tv Cavuto Coast to Coast FOX Business March 2, 2021 12:00pm-2:00pm EST
♪. stuart: 2 1/2 hours ago we opened up this market, figured where are we going? a big rally yesterday. where are we going today? this is tuesday and we headed south. whether we close like this don't know but right now we're in the red. neil, it's yours. neil: all right. stuart, thank you. given what happened yesterday, my friend, hardly a crisis but we'll watch it. you know, a lot of issues that were soaring yesterday, one of the dow's best performances certainly going back for the s&p in the better part of nine months. we'll be monitoring this. there are a lot of catalysts at work. at the very least the on going talks on the stimulus front. we'll get into those. markets are confused on different reads we're getting. we'll talk to senator rand paul, chuck grassley and democratic representative manuel cleaver where this process goes. i hasten to add, they hope to have a stimulus vote within the
next two weeks. they're very optimistic they can get that done. we'll monitor it for you. very people missing news on the vaccine front, reinforces this idea that i was the economic wind at our back too and what republicans make of that not being as generous with the stimulus. meantime blake burman on what the white house wants to see ultimately in that relief bill. the administration is going to be talking right now, that is, joe biden with some ideas they have to keep it moving forward including an effort on the part, blake, of a couple to sort of force that minimum wage hike in there. that will probably prove a lot easier said than done. to you, my friend. reporter: there is a few headlines a lot going on here in washington, d.c., neil. let me tick through them for you. two of them today, one is well down the line. first the $1.9 trillion american rescue plan. that is the at the forefront for the president. the white house says it is the
thing he is trying to get passed to this point. to that end there will be another meeting once again this afternoon, top of next hour, as president meets with group of democratic lawmakers. they hope to have it wrapped in the next two weeks. this is the single focus of the president. the minimum wage will not make it into the bill on the senate side, but something the white house and democrats hope to get to some point down the line. that is number one. later today we're expecting the president to announce a partnership between merck and johnson & johnson. white house officials say the two will work together to manufacture the newly approved johnson & johnson covid-19 vaccine. the administration believes that they can get the first 20 million doses of the j&j vaccine delivered by the end of this month. neil, there is somethings as well to keep on down the line, a group of 10 democratic senators, including bernie sanders and elizabeth warren, asking
president biden to include automatic insurance benefits and recurring payments as part of potential build back better plan. here is what they have said to the president. this crisis is far from over. families deserve certainty to put food on the sable and keep a roof over their head. part of the ask of democratic senators, when you think what could potentially come from the white house. for now, clearly trying to get the $1.9 trillion package across the finish line. we'll hear from press secretary jen psaki in about a half hour. the president then later today as well. neil? neil: so, blake, just to be cheap, these 11 who are pushing this is for, would be for future package, not this stimulus measure up right now, right? reporter: they have asked it to be included. they say when the president writes or put together the build back better plan, which is sort of a long-term economic plan as they see it, $1.9 trillion
american rescue plan is something else they hope to have at the president's desk here in weeks, if not days. neil: all right. blake burman, thank you. blake at the white house. edward lawrence on capitol hill, very, very interesting, even though virtual hearing going on with the man who president wants to head up with the securities & exchange commission. obviously the questions are centered on gamestop, robinhood all that drama. what is the latest, edward? reporter: right out of the gate, gary gensler, the pick by the biden administration to run the sec was asked about gamestop. he said the robinhood is a technology issue. one has to be dealt with. the viewpoint he took to all of this from the position of the consumer the investor whether everything was on the level there. he did not mention any firms that lost money on the shorts, only worried about the consumer and the investor. also gensler pledge todd look
into playing for other flow. >> technology changes, market changes, but we should always vail wait of new markets and payment order flow is something i think the recent events rightly pointed out raises, it is important to look at economically and look whether retail investors are getting best execution. reporter: among the priorities he wants to champion is transparency. having companies transparent about climate change risks and possibly disclose if they used renewable energy and how much. listing their political spending and pay for executives. he may also require more transparency about disclosing what stocks firms are shorting. gensler says he wants to invest or the investor to have as much information as possible. the ranking member of the committee, senator pat toomey worries that gensler will take the sec too far into an activist role. >> there are some who want the sec to stray from its tradition
of bipartisanship by using regulatory powers to advance a liberal, social, cultural agenda on issues ranging from climate change to racial inequality. based on mr. against heart's record, i'm concerned that he may be inclined to use the sec in this inappropriate manner. reporter: not once during this hearing so far did against lar take sort of the position from the corporate side. he has always been about the investor and consumer or customer related to this he says he is not shy about stepping in with regulation if companies try and hide information from the investor. back to you. neil: you know what kind of scares me, edward. nothing he said but shot of gensler speaking something sitting behind him. i assume coming from his home. it reminded me of the blair witch project. do we know what is going on there? reporter: that is one of his daughters who wanted to watch the testimony. she happened to be in his house in maryland. you know, for about an hour of the testimony she didn't move.
so i also noticed that and was wondering what, was that actually a person back there. he did reference it is his daughter. neil: okay. perfectly free to be there. kind of whoa, whoa, does he know there is a person behind him!? edward lawrence thank you very much. edward has too much class and dignity to make light what i was saying but it did kind of freak me out. katheryne rooney vera, john layfield. katherine, the images we're getting from the sec chief potential candidate, notwithstanding, what he seems to be signaling is that government will probably have a greater role in policing wall street. that there has been enough concern and enough hackles raised that he won't be you know, a distant player. what do you think of that? >> well i think government is
effectively managing the economy at this time. we have both fiscal and monetary authorities really juicing the markets and that is nothing new. i would say though from a retail perspective, the mom-and-pops at home, looking at, investing in stocks, what i recommended to them for some time now is to invest in passive funds. so etfs, mutual funds. shorting the market or specific names, very difficult to beat the market. i think a lot of lessons can be learn god this but it doesn't surprise me, neil, we'll have more regulation, bigger government, what i think throughout this pandemic has been a real approach from the government of managing effectively or ineffectively, maybe too effectively marketp movements and economic developments. neil: you know in a bigger sense, guys, john, maybe you can help me out with this, maybe
there is this battle a tug-of-war if you will between those who love the good news of the economy, picking up steam, love to hear target, kohl's sales earnings beat estimates like lowe's and home depot, like united will order dozens of new 737 maxes to keep up with the demand in pickup of air travel they see inevitable. they love all of that, but the flipside they don't like the corresponding pickup in inflation that comes with that. how is this battle going to be sort of play out? >> i think the battle is looking to play out similar like it did in japan years ago, when you had so much money printing, so much debt, innation was kept down. inflation to me is the biggest concern out there. that affect as love of people on wall street in their outlook. steel price have doubled. i own copper etf, clpx, gone up almost four times this year.
copper prices have gone up so much. with the depreciation of the u.s. dollar because of the fact you're printing so much money, dollars no longer need to be a safe haven because the rest of the world's economies are starting to grow i think you will see a lot of inflation. to me that is the biggest concern out there, the one black cloud, one uncertainty we don't know about. neil: normally markets advance in a steadily improving economy. they don't tend to worry long-term, katherine, about an uptick in rates or oil, but left contained or doesn't get too out of whack it is good for the market. do you buy that? i mean as we tussle through this? >> i think john is correct, inflation is the primary risk going forward. let's keep in mind in monetary base, m-1, 40% of monetary base has been created over the past year, one is going at rate of 70%. two, growing at 26%.
inflation is in the offing. something we've been saying for sometime. the problem with inflation, neil, is that interest rates must go higher. when interest rates go higher and the u.s. has 20 some trillion dollars in debt, we're just adding to that debt. at such rapid, exponential level, regardless any repercussions that come, we mr. in economic uptrends yet, we have 3.9 trillion fiscal stimulus in december. we have now 1.9. now we have multitrillion dollars in march in the budget, i think this is something we do have to contend with and i think it ice real threat for the future. neil: john, people who looked at the markets last week, especially as they were bumping around and got really crazy what is more typical will be the pattern this year, what's going on today or what happened
yesterday or for that matter the craziness of the week before? >> you know, i think it is none of the above. i think it is all about covid right now because the stimulus bill is now a known known as mr. rumsfeld would say. the fed is known known. you know what exactly will happen with them. they will continue easing policy. interest rates will stay low as far as the government is concerned. katherine is right, a big concern with interest rates rising. pretty much the macro will stay the same. one thing that will change is covid, vaccinations and looks like we're seeing some type of herd immunity based on numbers coming out of the cdc with antibodies and if this economy opens up in april and may, with the savings rate of as high as it is we'll see explosion of domestic spending in the united states which you think, the market is looking at right now. i talked to guys, that is their biggest focus right now. neil: katherine, before i leave
i'm reminded that you were stuck in traffic, you were kind enough to file this report, talk to us. you're in your car, right? >> yes. i'm sorry about that, neil. i got stuck at the hospital unfortunately, but i'm so happy to join you. the truth is that it is so important for your audience and investors to realize the fed and fiscal policy is going to continue. the inflation risk i think does need to be taken into consideration in portfolios sew more long risk, long equities but on the flipside you're buying inflation protected instruments that can protect our portfolios when inflation resurges, when it does it can be a very rapid process, neil, the fed will have to increase interest rates which can hurt risk assets. neil: a great deal of wisdom coming from inside of that vehicle, katherine. >> thank you very much. neil: katherine in her vehicle. we'll have more with her. we'll have more with john layfield. i will try to get to the bottom
of that scene, we're seeing gary gensler reporting from his open here. pick for head of securities & exchange commission and his daughter popping in and out of that shot but i'm relieved to hear it is nothing bad. which is good. rand paul next. ♪. shingles? dios mio. so much pain. maria had to do everything for me. she had these awful blisters on her back.
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only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ act now. neil: i told you a little bit before about very strong news coming out of target. its earnings report, revenues blowing away all sorts of estimates here. the company on the wires here saying that it does see things picking up and the stimulus measure will be the, the means by which americans have the propensity with those stimulus checks and the rest to go out and spend some more. enter senator rand paul, kentucky republican, former presidential candidate, not quite a fan of the stimulus, that would be putting it mildly. senator, when you hear target say it will get out to the stories to buy stuff what do you think? >> my first thought would be, why do don't we give people $2,000 every month or $2,000
every week? why don't we give everybody $100,000? i would love to have $100,000 to go spend at target. it is foolish economic sense. makes no economic sense. it stimulates things, destroys the currency, destroys the foundation of the country, so i think it is a really bad idea. people with common sense should think through this. is anything really free in this world, do you ever get anything without work? does it make sense we shake the money tree, give the people free money, it will actually work. it works in the short run like keynes talked about. in short run, stimulus is good and in the long run, keynes and others acknowledge we'll be dead so who cares about the future. i do care about the future. i care about my kids and grandkids and it's a foolish idea, that we shouldn't do this. neil: i will put you down as not impressed. let me get your take, senator, your take where this is going.
president will meet with key democrats, there is twigs within democratic ranks on this. elizabeth warren is still itching to get that minimum wage hike in this stimulus measure, even advising kamala harris the vice president to force it in. go ahead and challenge the parliamentarian on this. a, can you do that? if the parliamentarian rules on something, isn't the parliamentarian's word final? >> no, they can overturn the chair. that is called the "nuclear option." it has been done before on supreme court, appeals court, having simple majority. essentially gets rid of the filibuster, if they overturn the chair on this, from now on budget bills can have anything you stick in them. a budget bill would be repository for thousands of different bills. they would all pass with 51% margin in the senate. so many of us who believed that the institutional filibuster
protects us from lurching to too far to the right or left would be troubled if it happens. have to hope for goodness sakes, there are one or two sane democrats who say we don't want the country to go quickly headed down the road towards socialism. neil: what do you think of mitt romney, senator cotton's idea to hike the age, not to $10 or if that vicinity in over four or five years, would you be open to that? should this be discussed at all? >> i say there are bad ideas and less bad ideas. 10-dollar minimum wage is less bad than 15 but anytime you set the market wage or the government wage above the market wage, you cause institutional unemployment. the people who were hurt the worse by this in study after study are teenagers, particularly black teenagers, people tying to get the first job. people have to realize, you could set the minimum wage $50
an hour. that doesn't make you compassionate, it makes you foolish. you are cutting out all the people who earn less than that provide comfortable service. all three of my boys worked a minimum wage job because not it is good end job, good to learn work ethic to show up on time. if you don't get jobs as teenagers, you may not develop the work ethic you need to get into the work place. neil: senator, you did not go to cpac. i would be curious, one of the themes of cpac besides the attention the president enjoyed, straw poll doing quite well, you were in several straw polls in past years, this idea we got to do more, go big on stimulus, all of that stuff, it didn't sound like a republican gathering to me, what did you think? >> all i can say donald trump has yet to win more than the paul family. my dad and i have the record for most cpac wins. he has a little ways to go on that. but i would say debate is good. future of the republican party i think should be limited
government. we shouldn't be the party of handing checks out to people. that is a real honest debate -- neil: they're not. i heard a lot of their stuff, senator. they're not. between that and spending inordinate amount of time bashing people like mitt romney and liz cheney, that is far cry from ronald reagan 11th commandment days not saying anything bad about fellow republicans. where do you go from here? >> i think where we go from here, a lot of discussion is breaking up big tech, as libertarian-minded republican i'm not big government breaking up industry, even when i disagree almost all day long with big toke, i'm for looking for ways to get rid of obstacles to new competition combing to place. i'm for using personally other sources less biased. i don't like youtube taking down a speech i made on the senate floor. i don't like youtube taking down a committee hearing. if they're showing themselves to
be eventually biased i will eventually quit using them. go to other forums. maybe a new mark zuckerberg starting facebook and make a gazillion dollars. i tell tech entrepreneurs, 40% hates big tech. become the new big tech, 40% of the country immediately come to your services. shouldn't be hard to become the next bill that irwith a open forum not biased. facebook, twitter, they need to wake up. i'm not big on breaking them up. but i'm unhappy with them every day about their censorship, private censorship. neil: you mentioned billionaires, senator, your colleagues, elizabeth warren and bernie sanders are proposing a 3% wealth tax on billionaires. it would be pennies on the dollars they say, they can easily do it. it can raise a lot of revenue. what do you say? >> i suggests they look to sweden. they're always saying oh how great sweden is. sweden had a wealth tax.
guess what? all the rich people left for decades. they got rid of the wealth tax and invited wealthy back. founder of ikea, bjorn boring, others, they got back when the government got to their senses the wealth tax will reward our country. they want to reward people that make their services and buy their products that is the american way. this class warfare punitive stuff democrats want, it is un-american, it is bad for business and bad for everybody because capitalism uplifts all. we have less poverty in the world because of capitalism, trade, division of labor, all the things adam smith predicted but the class warfare people need to get a grip what happens. when they take over we become venezuela. i don't want that for our country either. neil: senator, if you will indulge me, it sounded like donald trump at cpac was teeing up another presidential run. it also sounded like other republicans there would hold back on their own run if he did.
now you ran for president. many people say you're interested in running again or they hope you do run again but would his presence affect your decision, if it came to that? >> could you forward the names of those people who said i should run again? i really need to meet them. neil: your wife and three teenage sons. >> they should not be non-must then. no, i think the future of the party is yet to be determined. i've been a supporter of the president but i have had disagreements with the president. those go forward. they are honest debates. we'll figure out by 2024 what is going on. but we have to be a bigger party. he excited and brought a lot of working class voters to our party. we need to keep that, build upon that, but we also have to increase the multicultural ethnic makeup of our party. we have to get soccer moms back in our party. some things he did great. some things we need to expand. so i think that is debate we have as we move forward. unless you get more than three
people to call me, not including my family, it will take some convincing, so. neil: fair enough, fair enough. senator, thank you very, very much. senator rand paul. >> thank you. neil: in washington on that. he is right, between he and his dad a lot of straw poll wins at cpac, for what it is worth. they can change very quickly. a lot more coming up, including all the good news on the vaccine front. you don't see this every day. this would be like apple, samsung joining forces on something, the fact that merck, a rival to j&j is going to work with j&j to get j&j's new one dose treatment out and millions of doses out in the process. there is some good news in the middle of this pandemic when rivals bury the hatchet. ♪ it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off.
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♪. neil: we told you a little bit earlier how merck and johnson & johnson are working together. in merck's case to get the j&j one dose out or millions more doses out than normally would be the case but merck stumbled upon, i would say stumbled upon, but benefited from a acquisition the candidate they took over has a covid-19 drug that looks promising and merck is saying we'll develop a new trial to get more attention, find out more about this covid-19 drug. they might not stumbled upon, one of the big reasons they were looking at this company but they could have come upon you know, a way to be in this race for a vaccine. and that looks very, very promising right now. where it is sort of like a curse of riches. they're looking increasingly by the end of this month, 130 million people could benefit from additional vaccines, beyond what we already know.
jonathan serrie is following this vaccine rush. the white house is going to be detailing this. the president more to the point later on this afternoon, but all of sudden, jonathan, it is full speed ahead, isn't it? >> it is full speed ahead and as more americans get vaccinated, many are wondering what activities they can safely return to. we just learned from a federal official telling fox news later this week the cdc expects to release guidance on safe activities for people who have been fully vaccinated. don't expect any wide scale recommendations to reopen large public venues. these are going to be very targeted recommendations, most likely allowing people to have small gatherings with other fully vaccinated people, either in their homes or places like nursing homes but urged continued mask-wearing in public places. meanwhile two senate democrats are calling on the biden
administration to stretch out vaccine. in other words, give it to more people by releasing second vaccine doses currently being held in reserve and allowing them to be used so that more americans can get their first dose. in a letter to the white house, coronavirus coordinator obtained by "the washington post" senators martin heinrich and chris van hollen write, using existing doses to protect a larger proportion of the population would guard against the highly transmissible uk variant b-177 which is projected to become the dominant variant in the u.s. by the end of more. researchers are studying the safety and effectiveness of covid vaccines in children. dr. anthony fauci predicts high school students will be eligible to receive shots in the fall. younger children may have to wait until this time next year. the non-profit group fair health, analyzed insurance claims for teenagers during march and april of last year.
that was during the pandemic and compared it to the previous year before the pandemic. researchers found overall decrease in claims during the pandemic, not surprising. people are putting off health care but when researchers looked at mental health claims, as a percentage of all claims, the figure for mental health doubled. here's the dilemma, neil. while children are at very low risk for severe complications from covid, when you look at older childrens, older teens, they are more likely to spread the virus to others, older adults, people with underlying conditions and that is why they're keeping these schools closed but studies like this show that they suggest, at least, that there is a very adverse mental health impact on these teens from school shutdowns. neil? neil: jonathan serrie, thank you for that. speaking of schools that eventually reopening, we're getting word out of the garden state now, governor phil murphy
saying all new jersey schools will reopening in the fall. i assume he means that includes in-person classes but by next fall, what that says for the rest of the year where county by county, school districts by school district, it has been a hodgepodge of reactions based on the prevalence of the virus and in those respective areas but by next fall, when everybody is back in classes for the new year, the governor is anticipating that all schools will be reopen. katherinekatheryne rooney vera , bulltick head of research. out of her car back home, nice to do a report live from her vehicle. john layfield, the action podcast hope. john has done live reports from the ring. they're both experienced at this sort of ring. guys, it is interesting, we touched on it before, katherine begin with you, these vaccines are changing this environment around they? they are coming fast and furious
right now, rivals teaming up together to get millions more doses out there. that has spillover effect getting schools to reopen, businesses to reopen, sort of deshelter, so that development alone has got to be soon as a positive, does it not? katherine, your thoughts? >> phenomenally positive. i will add to what you said. i'm in florida. thankfully we're pro-business, we had children in school for the majority of the past year. that has been fantastic as a mother offy but i will tell i think it is very important to look and see where we are by the end of the year because pent-up demand is real. i looked at discretionary income as denominator and enumerator being indebtedness. the u.s. consumer far from indebted as a percentage of her discretionary income. in fact the lowest level in
decades. once we get a resumption of habits in consumption that we have had historically, we're in quite a bit more of increased demand, not only from travel but from recreation and from restaurants and concert halls. all of that is in the offing, neil. that is something yet to be estimated in market psyche. neil: you know, jonathan, if you look, kathryn touched on it in florida, where they kept things open. where they kind of went business as usual for the most part. you wear masks, distancing, they encourage that, look at the difference there versus other states that were locked down tight as a drum, and only now are they coming out of it after horrendous experiences. not a better infection rate to show for it. what do you make of that? >> it made no sense to me whatsoever you could shut down schools and shut down private business but you don't shut down
cvs, walgreens. you're not seeing, people at cvs, walgreens, coming down with the virus not going to work. it shows there was a safe way to do it. somehow this became political. somehow if you're liberal you want to shut down, if you're conservative you want to open up. i'm not sure how that happened. this is a medical issue. the state has stayed open are coming out of this much better than the states that are shut down. we'll see a plethora of small businesses that will have to declare bankruptcy in lot of states shut down. i see it all the time. i'm here in bethesda, maryland. i talk to people. they don't think they can make the bridge over the chasm created by covid to a sense of normalcy that is coming and they spent savings and they're in debt now. this is big problem we have in the country. you see states not shut down are doing better right now. neil: final word. guys, thank you both very, very much. we have the dow inching back into positive territory here. there will be a lot of developments we're following up, very least, two very big
hearings going on in capitol hill right now, whether you're looking at them virtually or not. the fbi director, christopher wray. we're hearing from the president's choice to head the securities & exchange commission, gary gensler, of the impact of those twin testimonies here, very significant. when it comes to the case of mr. gensler, what type of overseer he will be with companies like gamestop, robinhood, all that. ♪. your daily dashboard from fidelity -- a visual snapshot of your investments, key portfolio events, all in one place. because when it's decision time, you need decision tech.
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is speaking to the committee. behind him is his daughter. first that i was wondering does he know someone is behind him? of course it is his daughter. the first one had a blair witch project feel to it. my gosh, does he know? he does know. one of the things coming up, he has scary remedies he seems to be teasing for the likes of the gamestop drama and robinhood all of that. he is obviously very, very aware. he is couching what he would do. he seems to be itching to do something. charlie gasparino with us with that and much more. charlie what do you think, obviously he feels compelled to say we're not ignoring this. i get that. what is he hinting at? >> i mean listen, gary gensler is a super smart guy. he is not only a guy schooled on wall street, senior partner at goldman sachs but he is very good politically. he knows how to handle these types of hearings very well. if you listen to him closely you
have an idea where he is going with his agenda. and have an idea how progressive it is going to be. i spoke with corporate lawyers, before the hearings began. these are lawyers that represent major companies in the country. corporate america, they do white-collar work for individuals. they have to deal with the sec and help companies disclose and deal with regulatory matters coming out of the sec. and they are really worried about gary gensler. they believe he will answer to elizabeth warren and bernie sanders on policy issues, that they will force him, remember, the particularly sanders is on the banking committee. that is where he was before today. the banking committee, will, is the uber regulator for the securities & exchange commission, which is corporate america's top cop. elizabeth warren has a seat on the finance committee which is powerful in regulation. they think gary gensler will be pushed by them to adopt progressive causes.
what is fascinating about it, if you listen to an exchange he had with pat toomey, the senator from pennsylvania, the republican, it was all about what do you consider material. pat toomey raised issues of apple spend as fraction of earnings on my lobbying s that material? it usually isn't considered material so they don't have to disclose it. gensler didn't say that. gensler came back that may be material based on other bits of information. you get, you see what i'm getting at. the notion of imposing climate change initiatives at the corporate america level, of forcing these companies, embarrassing them to say they deal in mostly fossil fuels in their business operations, is something that is going, is going to be policy of the democrats. it is going to be pushed by warren and sanders through the sec and it is going to be pushed through the sec by virtue of
notion of materiality, what should be disclosed. make one point. gensler said on robinhood, likely to look at the behavioral prompts in its business model. if you know anything about the way of robinhood, one of people it lures people in, buy stock, explosion and confetti, gameification of it. that is what they're doing, if they look at that, robinhood will have a hard time coming public, part of that make this a game, something to have fun at meaning trading. that is where we stand at, neil. it will be 108 from jay clayton, hands off policy these guys are coming in with progressive stuff, through the sec, through disclosure requirements and crackdowns on everything from cryptocurrency to accounting. it will be a tough couple four years for corporate america. back to you. neil: definitely a different
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♪. neil: all right. you might want to look in the rear view mirror, high-end car service backed by daimler launching in at least eight u.s. cities and it is so high-end, it has the backing of daimler and other big money types, think it's a promising start. black lane ceo and co-founder. very good to have you. thank you for taking the time. >> thank you very much for having me, neil. >> explain how this would work. think of uber, lyft, they have high-end portion with expensive cars sedans, for its clientele, or the china teleafter that. how will yours differentiate?
>> it is not just the vehicle size or brand or make but more the experience around it. more like five-star hotel, it is not just a room size, the size of the bed, but entire feeling. so our employees are providing a high-end top-notch service. wherever you bought bmw in new york or 50 countries around the world, the special feeling of taken care of. we take this very seriously. neil: all right, so, obviously a little higher end, right? so how much more would you pay, maybe i know, with the start and cities today, eventually expanding more than 20 soon, to say nothing of the service being used abroad, how premium of premium services is it? >> so the experience feels indeed very premium. it is premium vehicle. very clean, very new, chauffeur, in a suit, but the price point
is comparable to what you're used to in the taxi industry but also higher end versions of ride-hailing. we also are launching in the u.s. now but have been there around for almost 10 years focusing on airport transfer. airport, business transfer in times of pandemic is a very, hectic market segment. we launched new technology, new pricing to come into the city centers, to allow customers to enjoy the quality within a given city like new york. neil: all right. obviously it is showing a vote of confidence in this post-pandemic world, what we hope will be a post-pandemic world, looking at ride-sharing services. there is clientele you're going after with the higher end of that crowd, right? >> it is customers who want to trust in safety and cleanliness. customers who do not want to not feel comfortable in mass
transportation, and also on trains. we also are offering intracity rides from new york to boston for instance, $399 for the entire car, right? those kinds of services they are now an option for hopping on an amtrak or for boarding a short haul flight and also carbon neutral this is an important component to it. we're offsetting every carbon emission. it is really something you can save time, often save money and do goods things for the planet. neil: that is not too bad new york to boston, a little over 300, that is -- >> if you divide it by two, family member. neil: thank you very, very much. we'll watch it closely. keep us posted on all of that. the dow up six points right now. stay with us.
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♪ ♪ ♪ neil: all right. if we end up in the green today, as we're nominally so in the dow, it's got to be all the good vaccine news. j&j and merck are working together to get j&j's new single-dose vaccine out to the public. they're big rivals in this. merck separately, in a company it acquired in a takeover about a year ago, is looking at a trial of a covid-19 drug that company was working on, then
there is this separate optimism that j&j says it can put up 10 million doses of its vaccine within just days. this on the heels of good news that we're hearing on those getting vaccinations period, 245 million worldwide, about 77 million in the united states. and in britain, an interesting development that just came to me here, that 29% of london residents have the antibodies found to be a defense against covid-19. that's more than one out of three londoners who are in that position. that is the kind of development they like to focus on when they talk about herd immunity. positive developments, all. what it means for the economy and the markets, we're going to be exploring that with senator chuck grassley and whether in an environment like that you need the biggest stimulus package the democrats are pushing. he doesn't think you do. to susan l are i right now -- l are i right now following all of these rapidly moving developments.
>> after the best day for the s&p 500 in nine months, we have a bit of a pullback today. look at the big tech leadership. apple's coming off its 5% rally, the best day for this stock since october for the world's biggest company. microsoft, invid. >>, tesla and shopify also coming town as well. meantime, the reddit multibetts brigade eyeing the quicken loans, being shorted by hedge funds, so maybe another opportunity for the reddit rebellion to to kill shorts as they did with gamestop. let's also talk electric with the transition underway from gas to electric, and involve slow says it's going all electric by the end of this decade, 2030. that's even earlier than general motors which said by 2035. so volvo will phase out all hybrids and sell online exclusively, no showrooms in the future. meantime, nio is blaming the global chips and battery
shortage for cutting its electric car production, they're only going to make 7500 cars a month instead of the 10,000 they had originally guided for, also losing more money than anticipated in the final three months of last year. let's move on to retail. americans still shopping, kohl's reporting better holiday shopping sales with its amazon partnership bringing in over 2 million new customers last quarter. they're also giving out dividends once again and buying back stock which, obvious, lifts the stock price. and finally target had a great end of year quarter, falling though today despite a 20% jump in its sales. same-day delivery, pick up helping bring people in and stimulus checks, target says they expect sales to continue to men frit from still -- benefit from stimulus money flowing through the economy, and we awe that with the -- saw that with the january retail sales. neil: obviously, that environment when you get more vaccines out, people get very optimistic, the fact that we
could have 130 million vaccine doses additionally by the end of this month if some of those estimates are right, and that's probably why we're seeing so many big companies announcing plans to expand. in the case of united airlines, two dozen 737 masks at a minimum -- masks at a min -- even now sales are robust and the consumer is interested in buying. it's in that environment that senator chuck grassley says do we really need a $2 trillion stimulus package? the iowa senator with us right now. senator, very good to see you. how you feeling, by the way? >> oh, very good. if you're referring to last november when i had covid off -- isolated for 14 days, i was asymptomatic except for some fatigue, and i feel very good and thank you for asking. neil: the virus didn't know what it was dealing with, senator, so
i'm glad that went okay. [laughter] speaking of the virus, senator, and all these -- i've seen the dow rivals like j&j and merck working with each other to get out still more vaccines, what do you think of this environment? >> well, first of all, understand that normally when you're dealing with vaccines, you're talking about five or six years, and then you don't usually manufacture until you get it, and they had a sole process of manufacturing. what has really happened now is with new platforms to take off from for various vaccines, you're having not only are they able to do the research and development much quicker than they used to, but you also can manufacture a lot faster. in fact, these companies didn't have the manufacturing capability. they're all making deals with other companies to maybe stop manufacturing some of their vaccines, shift over to making it for the covid vaccine. and it's just, the free market
system and our competitive system working. and in this case you're getting a lot of cooperation between pharmaceutical companies and those companies in the government. and it's just a phenomenal thing. but an absolutely necessary thing in order to something that a year ago we didn't even know how bad it was going to be. neil: you know, senator, bad enough for democrats to say to a man or a woman we're going to need this stimulus. some balk at the ultimate price figure, and i know you're in that camp as a prominent republican, but the president will be meeting with the entire democratic caucus to find a way to get this through. i know you're a no vote on this, and it doesn't look like any republican at this point would pass this. if that is the case, do you see every democrat approving this and this, ultimately, being decided by kamala harris, the vice president? >> oh, it'll be a 51-50 vote
assuming everybody's there, and i imagine everybody will be there. and it's something that's so different from the 12 months of cooperation we had on fighting the virus which was basically five bipartisan bills that got through almost unanimously in both houses. and then to have this environment come along which basically is just a bill of a lot of wish list democrat things that they didn't get in other bipartisan bills, and they got enough votes to do it partisan, so we're going to go for broke. and that's exactly what they're doing, and they're going contrary to the inflationary, anti-inflationary advice that larry summers, former democrat secretary of agriculture, president of harvard university formerly and outstanding economist said that you better be careful. with the pent-up savings that people have plus other covid
money that isn't even out of washington before you get this one and nine-tenths billion in it. and with the economy gearing up so probably be by april we'll feel very positive about the end of the year, it's not the time to be feeding the flames. and i remember when i first came to congress, nixon resigned. and he had us on an inflationary point at that time, and we had 22% interest on car plans. as just one example of how out of control it can get just almost overnight. and they aren't heeding the advice of their own liberal democratic economists. neil: all right. and you're referring to '73 when we had the first oil embargo and energy prices went crazy, so did inflation. senator, do you think -- and maybe it wasn't his intention --
that donald trump set the table for this when he usualed everybody before leaving washington to go -- urged everybody to go big on stimulus, the bigger the better? that began to be the clarion call on wall street, i didn't hear a lot of criticism of that strategy. even at cpac. has everyone sort of lost their resolve on spending? does that worry you? >> they kind of have lost their resolve, but right now the chickens are coming home to roost. and in just a few months we'll see this pent-up spending -- or pent-up savings is going to be spent and even government spending that's not out there yet. you had the one and nine-tenths trillion dollars that's going to pass a week from now, it's just a program for disaster. neil: so you think a week from now, senator, this is a done deal, this plan is a done deal. >> yeah, i believe so. that's their goal, and they can deliver on it, and republicans
are going to just try to use every opportunity we can to point out how irresponsible it is. and there is even on republicans' part, even chuck grassley would say there's still some people hurting, there's still some small businesses that maybe need some help. and there might even be some more needed for the schools, k-12, because of the pandemic. but it's, it would be a fraction of the one and nine-tenths, a very small fraction of the one and nine-tenths trillion dollars that's in this bill. neil: senator, elizabeth warren is apparently advising vice president kamala harris to go ahead and ram that $15 minimum wage through, that the parliamentarian doesn't have the final say on this here and that parliamentarian, she can be overruled. what do you think of that? >> well, first of all, if she
would rule that -- well, are you saying that she's being advised to rule that it can be in the bill or not be in the bill? neil: yes. that elizabeth warren is telling kamala harris we want that $15 minimum wage in the final measure, you could do it by simply forcing the issue. can she? >> it will blow up everything we know about the responsibility of what we call the byrd rule. that goes back to the 1980s -- neil: right. >> -- in a reconciliation bill that you just have 50 votes, you don't have the 60-vote requirement. it'd have to be tightly oriented towards fiscal things, and the $15 minimum wage, according to the parliamentarian, doesn't meet the byrd rules, and it would blow up everything. and it would just make reconciliation in the future just a way of having the nuclear action that we call doing away9 with the 60-vote requirement.
and it would change the senate historically from what it's been for 240 years. it'd make it just like the house of representatives. minority points of view wouldn't have any voice at all, and in the process you wouldn't have the intent that the senate was supposed to fulfill of giving cautious approach to legislation that the constitution writers implied in 1787. and it's worked so well, and it shouldn't be changed. neil: senator, i know you weren't at cpac, but i wonder what you made of a lot of the comments there, because republicans have seemingly forgotten ronald reagan's 11th commandment of not speaking ill of other republicans. liz cheney got an earful, romney got an earful, critics and those who voted to convict the president in the house and the senate, a lot coming and
directed at them. what did do you make of all that? >> most of those people there would honor reagan, and you know what reagan said about it, the 11th commandment, speak no ill of a fellow republican, and that's what i believe. they shouldn't have done otherwise. neil: do you think the president encouraged them? >> well, he spoke -- his speech was the last one, so i can't say that he encouraged them because he was the last speaker. i think it's probably just pent-up resentment that we didn't win the election. i have that same ill feeling about the voters because i liked the policies of trump even though there were a lot of personal things about trump i might not like. he had very good policies for our country. and you could list 50 of them. if i just had a sheet, i'd read 50 very quickly -- neil: i know what you mean. he did, in fact, he did, in fact, senator, say that all of
those who voted against him in the house and in the senate should be challenged, they should be thrown out of there. i'm just wondering what you think of that. >> well, the republican party at least for the last 80 or 90 years has always had less adherence than what the democrat party had. so if we ever want to be a majority party, we've got to be a big tent party. and not only that, but our party is healthier when you have internal debate and disagreements. just like the democrats are having now between progressives and the more moderate democrats. it strengthens our democracy. and why wouldn't you want everything to be thoroughly discussed and every point of view and be an inviter into your party rather than kicking people out of the party? neil: sir, are you going to run for re-election? a lot of people want to know what your plans are for 2022. >> i hope you'll have me on in
september, october or november, and i'll be glad to answer that question. neil: ah. so that's when the decision will be made? >> well, it can't be made much later than that, and normally i'm in no hurry -- elections are long enough without making them a two-year campaign. [laughter] neil: all right. senator grassley, very good talking to you, sir. continued good health. >> thank you. neil: senator chuck grassley. very, very influential player in the united states senate whether you're talking are republican or democrat. few carry that financial heft of the good senator. all right, talking to a top democrat in the house on what to make of the push to force that minimum wage hike in there and get it done in a stimulus plan that the senate parliamentarian says can't be in there. from the house making a switch to the senate. ♪ i don't know what to do, i'm always in the dark. ♪ we're living in a powder keg and giving off sparks. ♪ i really need you tonight.
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vice president? >> oh, it'll be a 51-50 vote. assuming everybody's there, and i imagine everybody will be there. and it's something that's so different from the 12 months of cooperation we had on fighting the virus which was basically five bipartisan bills. neil: all right. well, he doesn't like it, doesn't think a single republican senator likes it, but just for the partyup and breakdown -- breakup and breakdown of 50-50, if you include the vice president of the united states, democrats will along party lines get this $1.9 trillion package approved by next week. jack mcintyre with us, gianno caldwell with us. let me first get your take on that this is happening, it's going to be facts, and we move on from here. what do you think?
>> so my comments are from at political economist point of view because, frankly, it's not my position to talk about that. from me it will be more from a money management point of view for people who will be receiving the stimulus checks and those who are worried about inflation that could be arising. so those are the things that people should be worried about. i have no power over what is going to happen. neil: well, i was just asking what you thought. but, jack -- i'm kidding. jack, one of the things i wonder about is where this goes, because i guess the senator's point was there's a lot of good we can do, more vaccine, rushing that, schools out, helping those that are really down and out and as a result those who are forced out of their jobs and in a hurting way, but that, he said, would be a fraction of this $1.9 trillion cost. this would not be the first time the government's spent more than it needed to. the markets seem to be okay with that. are you? >> okay. so, neil, i'm a proud member of
the bond market vigilantes, and i say, no, the bond market's not overly thrilled with this. you know, treasury yields, 30-year yields increased about 50 basis points from august to end of january. in the month of february they increased 50 basis points alone, the point being is that the bond market, which kind of sniffed out that this is going to be close to that $1.9 trillion, isn't happy with it, you know? if you actually last week shored rates back up, kind of sending a message to the fed that, hey, we don't think you are going to be able to keep rates low for as long as you think. so this is the stress being created about the probably big wave of inflation associated in part with other things but with this $1.9 trillion. it's a way of saying we probably don't need 1.9 trillion. but you're right, this is politically motivated. neil: you know, i was thinking of you when you talk about cryptocurrencies and bitcoin and
benefiting through this environment, they're all volatile rises, i get that. but is it safe to say this is an environment with a lot of spending and other stuff that's going to benefit all of these pipe -- types of investments? >> absolutely. the biggest familiar clearly is inflation in the long term. i understand medium term is low because of oil prices plummeting last year and rent going down because people didn't have money. but in the long run, i am worried about inflation, and the good thing about some of the cryptocurrencies such as bitcoin is that there is a fixed amount. there is no way you can create more bitcoin, more than the 21 million coins that can ever be created. and personally, i am investing in such assets as a hedge against the inevitable inflation that could be facing us in the future. neil: you know, jack, he may be
owing to his young years at 87, chuck grassley is worried about inflation. remembers what hyperinflation was. it isn't in the working right now, but that is something to worry about. and measures like this in washington -- prettily he's come -- prettily he's coming from -- politically he's coming from, whatever happens in incremental steps means more steps and that we could be in a bad direction here. are you worried about what he was alluding to, a '70s repeat? >> okay. so a fat tail event is definitely one that is certainly plausible. i am a little worried about it. the one thing that kind of keeps me saying we might not get there just the huge amount of debt that we're starting with. i mean, the debt is $27 trillion give or take. but, yeah, one of the things which is very unique about this cycle is that the fed is seemingly embracing inflation.
normally they would be saying, hey, we probably need to think about removing that punch bowl, but they're not doing that. they're actually adding to the punch. so that gets me a little worried because there are clearly going to be some unintended consequences with all of these policies being put into place. neil: all right, guys, i'm going to have you back a little later. we'll be talking about where this stimulus goes and what are some of the buys on wall street as well. in the meantime, we've been talking to a couple of powerful republicans. a prominent house democrat says they're not seeing the bigger picture here, that a lot of hurting folks need some help right now and they should think of that and less of some of the stuff they are. ♪ ♪ baby, all around you. ♪ and it goes like, hey -- ♪ ♪
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♪ neil: and, you know, bernie sanders are proposing a 3% wealth tax on billionaires. it would be pennies on the dollar, they say. they could easy do it, it could raise a lot of money. >> it's not good for our country, it will troy our country. neil: all right. well, bernie sanders and elizabeth warren saying such a tax on the assets of billionaires, that pennies on the dollar could raise trillions of dollars. congressman emmanuel cleaver, prominent democrat, house financial services committee, much more, with us on that. congressman, what do you think of a wealth tax? >> well, first of all, i have to preface my comments by saying that there is a great disparity in terms of income.
income inequality is real, and we all in the country can realize that and see it. and i think something has to be done. now, this particular piece of legislation i'm not sure how far it's going to go. i don't even know the opinion of the president. but something needs to be done, and my interpretation of the bill is not to say that they are not serious about it, but i also think that they realize it's going to take a lot of discussions, a lot of give and take to get some kind of legislation through that does create a greater level of income equality. and if you think about it, billionaire wealth is now 4.2 trillion, that's 40% higher than it was before covid. so as people are falling to the bottom, the people at the top are just in a rocket continuing to go. something has has to be done.
neil: so as a way to rectify that, to have the government force it? in other words, if the it's a widening between the rich and the poor, tax the hell out of the rich to force it to narrow? >> well, you know, if the government gets involved and everybody's earning the same amount of money, that's not the united states. that's some socialist republic. i am not there. i don't support that. i do think that the government has to take some kind of step in order to create a more fair system. it may already be fair, but to create some kind of equilibrium because right now it's not. and the wealthy continue to go, continues to go up and up and up. and i think that that is a formula for social disruption. that's what we've seen in some of the south american countries. you have two societies, and it
creates, i think, a whole level of discord that we have the same, we're a nation right now that's seeing a lot of discord. neil: so bottom line, you are open for this, i'll leaf it at that -- leave it at that. can i also ask you about the stimulus measure? one of the rare times the democrats have had the run of the table in the house, the senate and the presidency, it didn't go far enough, and i hope i'm getting the gist of your comments, but this is a rare opportunity to do just that. it looks like the stimulus plan will be approved along party lines, but youwant to go beyond that. could you explain that? >> it pains me for real, for real that this is going to be a 100% democratic piece of legislation for the country. and i know biden, and bide withen is not -- biden is not some way-out whacko guy who wants to, you know, just do everything he can to run over
people. [inaudible] and canceled out the parliamentarian's interpretation of reconciliation, but he did not. and keep in mind if, there are people over here particularly in the house, not in the senate, who are asking him to do it, and he's not going to do it. i know that he's met with many of of the republican senators, i think he's even going to be talking with some of them today. you know, the overwhelming majority of the american public, something like 70% support the bill as it is right now. while it is not as bipartisan as i would like and as i think president biden would like, in terms of the nation it is because both republicans and democrats give a passing number in terms of their support. neil: you know, congressman, there's a lot in there that doesn't take effect until next year or the year after that.
$350 billion for states at a time when we're learning that a lot of those states are awash in revenue and doing much better than we thought. does it have to be this big? i talked to a number of republican senators who have been arguing, no, not this big. they're not opposed to it, but it should be a third of what they're spending right now because two-thirds, they argue, has nothing to do with covid at all. what do you say? pleasure. >> well, my governor, with whom i have a very good relationship, has said that the state does not want the stimulus. and i think that there are some states doing quite well, there are other states that are actually trembling with debt and no ways or very few -- [audio difficulty] so i think, yes, if the question is could we have done this with a smaller number, it is yes.
but if you look at ben bernanke along with janet yellen and now chairman powell all say go big. they didn't say how big, but they said go big. and so i think the president's just trying to get the money out into the streets to, you know, reduce the pain that a lot of americans are experiencing right now. neil: indeed. so did president trump. so there is the a litany to that. emmanuel cleaver, very good seeing you. thank you, sir, very much. >> good to talk to you. neil: all right. in the meantime, now there are three, three women who question andrew cuomo and his behavior so far. after this. ♪
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right now talking about the behavior of governor andrew cuomo. bryan llenas keeping track of it all in new york. hey, bryan. >> reporter: hey, neil. yeah, this is the third woman to accuse new york governor andrew cuomo of sexual harassment, but this is the first time that someone has provided a photo of allegedly that very moment that the harassment took place. anna ruck providing this photo to "the new york times", both saying this was the moment at a wedding in 2019 when cuomo put his hands on the 33-year-old's face. when she removed it, cuomo called her aggressive. he then asked if he could kiss her. she was confused, shocked and embarrassed. fox news has not independently confirmed this information, and we reached out to ruck and cuomo's office. cuomo has been accused of unwanted kissing and touching by two former aides. new york attorney general leticia james officially launching an independent
investigation into their sexual harassment allegations. the a.g. will choose an independent law firm with subpoena power and will issue a public report at some point with the final findings. now six new new york state socialist legislators are now calling for cuomo's impeachment in a release saying, quote: governor cuomo has repeatedly abused his powers and has faced no accountability. we must lead a process commensurate with the severity of the governor's multiple abuses of power. democratic new york congresswoman kathleen rice tweeting: the time has come, the governor must resign. and ranking democratic senator dick durbin, well, he said he's not quite there just yet. >> the investigation should be completed and should be -- as quickly as to possible and credibility given to the charges. and if that's done in a timely way, that'll be a better opportunity for us to decide the
fate of the governor. >> reporter: the governor has hired a white collar criminal defense attorney not on this matter, but on the matter of the nursing home scandals to represent his executive chamber as well as him. neil. neil: bryan llenas, thank you very much. well, you might have heard all these vaccinations would have a devil of a time applying for and getting them. there isn't an app for that, but we have the cyber guy to hope -- to help you with that. ♪ ♪ -- that stands before me like a million -- ♪ across the universe ♪♪ liberty mutual customizes your home insurance, here's something you shouldn't try at home... look, liberty mutual customizes home insurance so we only pay for what we need. it's pretty cool.
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try to get it makes people sort of throw up their arms and say, all right, i've done i'm supposed to do, and i still can't get e the thick. we've got the cyber guy to the rescue, kurt knudsen joins us now. i guess there's a science to this, isn't there? >> hey, neil. you know, it's one of those things where you have to ask yourself, all right, we know a lot of the seniors in our lives have been tapping into the younger family members to get online and score these appointments. that's what you hear on the street. i asked sort of how are they doing that, and we found out the strategy. so it's quite simple, but it does require a little bit of work on your part. so, number one, find your state and county vaccine resources. put 'em all in one spot, bookmark 'em, and then save links to all the available appointment web sites in your city. for example, where i am there's a county location, a city location, you've got cvs, rite-aid, walgreens, and by the way, each of these will populate
more appointments at different times of the day. so you've got to learn the pattern. and number three, set up autofill on your browser. so that's -- you're better off using a laptop or computer than you are a tablet or a phone, or because you can control the autofill so that you're faster, because it's really a race. once you see that appointment availability, you want to put in your information, and that autofill will help you do it. we've noticed people are adding this extension that refreshes the page for you. we check out the privacy on it, there's no harm, it's called page refresh. and what it does, it just sits there and refreshes the page again and again and again right where you're set up, ready, looking for an appointment. and we've all been there where it's like we have no appointments, no appointments. this does the refresh for you, and you just have to stop it in time to grab it. and then finally, you can set notifications on a web site
called visual ping. and at visual ping, you put in the web site say, for example, where the appointments are, neil. and if that web site changes, for example, it may say, no, nothing available right now, check back later, as soon as that changes it's going to send you a notification so you know to go online immediately and try to get that appointment. these are some of the tricks people are using as well as tapping into others who are really sort of like good geek samaritans online. [laughter] i do caution you, even though they mean well, hang on to that personal data of your own. you don't want to give somebody your social security number, much less maybe not even your date of birth. neil: what do you have to take with you, kurt? let's say you find out you've got your appointment, you go to this location. do i print out that e-mail or save that e-mail? what do i take with me? >> i would. even though a lot of these are -- you know, everything is different. i went to one site here in l.a., because i did a trial.
so i had a printout. i took my printout, i also had the e-mail on my phone, and then the most important thing when you go to get shot number one or if you're doing j&j your weathed only shot, you will want to get that cdc card that certifies that you did get the vaccination. that is going to to be your golden ticket for 2021 as soon as things start opening up. because that is your proof. and then another tip, neil, let's say that you find an appointment like a walgreens to get shot number one and you're doing that pfizer/moderna. try not to go get it, dose number two, at another place unrelated because as it turns out, down the road we're going to be using apps and all kinds of electronic verifications that we've been vaccinated, and it turns out those things don't really talk well to one another. you're better off sticking to one source for both shots.
neil: how are you prepared for the possibility the appointment's set, you know where to go, you get to the location, they say we're out of vaccines. then you have to start -- >> my strategy for those that i love, for those that i love, because there's a -- you know, it's got to be the most emotionally moving experience. i take care of an 87-year-old loved one, and i'm in the car at the dodgers stadium here in l.a., and it is a zoo. and i learned from that first experience even though our appointment was at 10:30 in the morning, it didn't matter. show up early. even though it says don't show up early, show up early. nobody there is looking at a time stamp. they just want to scanning a qr code, shove a needle in your arm and call it done. and that's all we really want to do in this country, right? just get those needles in the arms and move it on. neil: yeah. the worst news i heard you share -- and it's all good news, you know what you're talking about -- when you said show up
early, my wife will never show up early, so we'll never, ever, ever get these vaccines. [laughter] all right. well, it's good to know that they're out. here we go again. kurt, that was fascinating. learned a lot there. kurt knudsen, cyber guy. i like the refresh thing. all right, i want to bring our panel back, jack mcintyre, i didn't even identify him prior, i apologize for that, jack. gianna, a resident genius and david asman, i think he is part of our mix here. isn't he? he will soon. jack, let me get your take -- oh, there he is. okay. on what kurt was saying, because i do feel this kind of -- if you'll indulging me -- goes into the markets and the economy. now we have a curse of riches, right? more vaccines than we know what to do with and apparently far more to meet the demand that is
still robust, but they're piling up on shelves and in refrigerators. i wonder if this stymies the process, the recovery? what do you think? >> i don't think so, neil. i think this is all good news. neil: david asman gave me that question, and i thought it was a dumb one, so i apologize for that. [laughter] >> fair and balanced. >> i'm a glass half empty kind of guy, but that's very empty. no, we're doing 2.5 million the last three days, we're going to get up to 4 million a day very quickly here, so this is in part why we don't need a huge fiscal stimulus package. neil: what do you think of thatting -- that, dave? >> well, i agree that we don't need a big fiscal package this big. i think it's a mistake to call it a covid relief bill when so much of it re, republicans claim over 90% of it, won't come into
effect, won't be spent until after the pandemic is over. i mean, we're just spending an enormous amount of money on stuff that has nothing to do with the immediate pandemic and the immediate ability to get needs in people's arms. i mean, that's really the key. by the way, i think the -- a lot of people were holding out for the johnson & johnson shot, it's the old style vaccine as opposed to the rna vaccine. once johnson & johnson comes occupant with the 100 million doses, they're going to go quickly. the key right now is what we're experiencing is a ramping up of the size of government the likes of which we haven't seen since the new deal or perhaps lyndon johnson. neil: right. >> that's the thing that worries me more than anything. neil: there's going to be a lot of spending, isn't there? >> yeah. actually, i do want to touch on something that the panel seems to not be mentioning, and that's the fourth wave of coronavirus
that could be spreading already in the u.k., some of my friends are catching it the second time is much, much worse. also we don't even know how long the vaccines will be effective. we just don't have that data. so i know the priest segment i didn't answer you -- previous segment i didn't answer you directly because i want to stay out of it, but i don't think it's not even enough. first of all, if you need a stimulus check, then you need to be very, very smart with where you spend it because $1400, like, what is that going to coffer? ♪ neil: yeah, you're right. we're hopeful but we're not blind to that reality. guys, thank you all very, very much. we've got the dow in the positive territory. we'll see if it can maintain that. ♪ you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila!
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neil: all right. here's charles. hey, buddy. >> neil, thank you very much, my friend. good afternoon, everyone, i'm charles payne. this is "making money." breaking at this moment major indices digesting gains from yesterday's monstrous session. investors are contemplating what is next. yesterday i asked the fed where is the love? today we have the answer. ronald reagan said it best, nothing lasts longer than a temporary government program. get ready for recurring stimulus to last forever. i will get reaction from senator mike braun. we're seeing a blue-collar boom during this pandemic. we'll have a live report. i will ask mark tepper if