tv Mornings With Maria Bartiromo FOX Business June 22, 2021 6:00am-9:00am EDT
larry: on taxes, on cyber hacking, on climate, we must not larry: on taxes on ♪ maria: good tuesday morning, everyone. thanks so much for joining us, i'm maria bartiromo, and it is tuesday, june 22nd. 6 a.m. on the east coast. failing to do one job right, vice president kamala harris takes on another task with her primary focus the border crisis getting worse. the fallout coming up. markets this morning are pointing to a decline for the start of trading. we are all waiting on jay powell to testify before lawmakers lauter today. going into it, dow industrials down 30 points, the s&p down
5.25, and the nasdaq lower by 24.5. investors will be closely watching powell's comments on inflation expect economic recovery. yesterday all three indices ending at highs, the dow finishing almost 600 at the close, and the s&p 500 higher by 58. global markets this morning are slipping, european stocks right now mixed. take a look, inflation fears tightening monetary policies impacting the markets. fractional move, the dax index lower by 39. in asia overnight, let's take a look as the markets look mixed this morning. as you can see, the korean -- the japanese market was the best performer. nikkei average up with better than 3% on that big rally on wall street. "mornings with maria" is live right now. ♪
♪ ♪ maria: now some of the top stories that or we are watching this morning, president biden meeting with lawmakers once again this week as he tries to strike a deal on infrastructure. a bipartisan group of 21 senators are pushing a $1 trillion proposal focused on transportation, broadband and water systems. the white house has raised questions about how lawmakers are going to pay for it. he wants to raise taxes while liberals have called it inadequate in the fight against climate change. financial regulators assuring president biden that the u.s. financial system is in good shape. yesterday marked the president's first face to face meeting with regulators of the banking try and financial markets including jay powell. the white house says regulators
are making steady progress on biden's climate-related executive order and discussing ideas to promote financial inclusion. some senate democrats still looking to appease members of the progressive left, this time with a $6 trillion budget reconciliation bill. the land includes a major overhaul of medicare, lowering the eling jilt age and expanding it to include dental and vision care. senator chuck schumer and bernie sanders behind the proposal. unlikely, though, it is going to receive support from all of the senate democrats. a british doctor is removed from the united nations commission tasked with investigating the origins of covid-19. you herald us mention -- you've heard us mention peter dasic many times on this program. in february 2020 he helped organize a statement signed by two dozen scientists claiming that the lab leak was a conspiracy theory and
nonscientific. he denies his nonprofit received any money from the chinese government, in fact -- markets are lower, take a look, futures indicating a decline at the start of trading. we are looking at the dow down about 10, the s&p lo or by 3 if -- lower by 3 and the nasdaq by 20. the dow posting its best day yesterday since march while the nasdaq and the s&p 500 take seeing sizable moves. the nasdaq was up 111 at the close and the s&p higher by 58. oil producers and banks leading the way in yesterday's rally with oil up firmly above $70 a barrel. joining me right now is mainstay capital management david ksla this morning, also fox business' dagen mcdowell and nancy techler. great to see everybody this morning. david, let me kick things off
with you. we had a pretty good selloff last week and yesterday that rally. tell me are where you think markets are. is there still the same concern about the fed and inflation potential? what'd you think of yesterday's move? >> i think yesterday was a reversal of last week. it was a little bit bizarre. the fed testimony was -- or the press conference by jerome powell was read as hawkish because of the dot plot, we saw the first rate increased moved -- increase movedded a year earlier. it is interpreted as what the fed might do a couple years out. but we saw the 10-year and 30-year yield drop significantly, falling below 1.4 on the 10-year, and we just saw a reversal of that on monday and a reversal as rates came back up. the inflation trade or reflation
trade, cyclicals and if value stocks that sold off last week got a good rebound, and the market in general really just got a rebound from the worst week for the market in months that we had last week. so just a reversal of what we saw last week. maria: yeah. it's a reresterral, but it's -- revestal, but it's a held-scratcher as the federal reserve points to perhaps the beginning of, certainly, the tapering conversation. yields have gone down. nancy, what's your take on this? look at where the 10-or year is this morning as we anticipate federal reserve chair jay powell, his testimony later this morning in front of the house to discuss the presidential of inflation. the potential of inflation. he's already prepared remarks noting that inflation's recent rise is certainly there, but, of course, he continues to say it's transitory. the central bank chief also says the economy is improving
post-pandemic, but yields are moving lower, nancy. so do you believe jay powell or the bond market? >> maria, i think you have to believe bond market. a great piece in barron's this weekend saidfect we'vely can the fed really ever raise rates again. and i think that's an important question, because the market clearly doesn't believe that the fed's going to tighten. and i noted in david's talking points that he talked about how the fed is saying transitory. we will -- inflation isn't transitory, we will raise rates. that seems to me be coming at just the wrong time in 2022 because the economy is going to be slowing already are. i'd love david's thoughts on that as well. maria: yeah, what about that, david? if this market is trading down, isn't that right that the bond market investors are expecting things to slow down or that the fed is not going to be able to raise anytime soon? >> yeah.
the interesting thing is when we're talking about the dot plot a couple of years out and what may or may not happen, right now the fed continues on this massive accommodative policy of 120 billion in purchases per month. so that's what we have coming in the system. we still have these emergency measures. we still have the system being needed with liquidity which is going to keep bond prices low, which will continue to, with easy monetary policy no matter what the fed is saying they're doing in a couple of years. i think what the market also understands is the fed will have a problem raising rates. will they be able to raise rates at all. what we saw in 2018 is they weren't able to. even if the fed says that the inflation we're seeing now is transitory but if we do, if after these special forces affecting inflation come out in
the long-term -- and the long-term inflation rate falls back to their target of 2%, what i think powell will say today and what he's said is, is that if it doesn't, that they will respond. when they respond, when they try to raise rates, their response will be transtour because they've been un-- transitory because they've been unable to raise rates. we are japan now. they are at the zero balance, and they will struggle, they will be in a pucking if they try to raise rates. even in talk abouterring, we know it's going -- taping, we know it's going to happen. they can't afford to have the stock market sell off significantly. maria: so -- >> having a pretty good month of june now for the averages. how do you want to allocate capital at this point? if has anything changed for you given this new opening from the conversation that has occurred from the fed's standpoint? >> you know, for a very, very
long time on your show, really for several years, i pounded the table for technology. and last year that was e-commerce, i.t., all the stay at home trades. but this year, you know, really value and cyclicals have had their day in the sun. we're staying with that, but we think there is an argument to have growth, specifically big cap tech in the portfolio. but we think the reflation trade, last week notwithstanding, last five weeks, with rates coming down that's been good for growth. but we think the reflation trade stays at tech, cyclicals and value. energy is one we like in particular. it hasn't come back to pre-pandemic levels. we think that energy has a long runway ahead, and the cyclical recovery of the economy. and we have the banks, as interest rates will eventually come back up, net interest rate, the net margin that will help
profitability -- maria: right. >> but industrials, materials and have some tech in there for growth. maria: yeah. interesting to see tech sort of bounce back a bit in the month of june. you've got the nasdaq up almost 3% for june so far even with the dow lower. david, it's good to see you this morning. thanks very much. >> thank you. maria: we will see you with, david kudla joining us this morning. coming up, watching iran. fox news strategic analyst general jack keane is weighing in on iran's incoming hard-line president. what it means for nuclear talks going forward. we will also get input from capitol hill. pennsylvania congressman scott perry is here to discuss infrastructure, the plans on the table, the increased cost -- the increase of drugs crossing the southern border as well. new congressman john katko is here with news on the rising crime in america's biggest city. plus, michael milliken is here this morning, we'll talk with
him at 8:30 a.m. eastern. we'll talk covid treatment, cancer research. you're watching "mornings with maria" live on fox business. some days, you just don't have it. not my uncle, though. he's taking trulicity for his type 2 diabetes and now, he's really on his game. once-weekly trulicity lowers your a1c by helping your body release the insulin it's already making. most people reached an a1c under 7%. plus, trulicity can lower your risk of cardiovascular events. it can also help you lose up to 10 pounds. trulicity is for type 2 diabetes. it isn't for people with type 1 diabetes. it's not approved for use in children. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer,
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maria: welcome back. president biden once again meeting with lawmakers this week to try to strike a deal on a massive spending package. at least 21 senators from both sides have backed the latest proposal that will spend about $1 trillion on transportation, broadband and water systems. infrastructure. the white house says they still have questions on how lawmakers plan to pay for this while liberals have called it inadequate to fight climate change. joining me right now is the hill editor-in-chief bob cusack. thanks very much for being here. do you think a bipartisan deal is possible? >> maria, i think it's possible, but i am skeptical because they are so far apart on the pay-fors which is essential especially
with inflation right now. i don't think they're probably going to get there because the left is pushing hard against it. nancy pelosi and the house. they don't want to do what the senate might do. and 21 senators is impressive, and a trillion dollars of spending that some republicans are for, that's a lot of money, maria. but, again, you have nancy pelosi, chuck schumer, bernie sanders wants to move a $6 trillion bill. i think that's probably in the direction that they're a going to go. but the clock is ticking. i mean, the senate's going to go on vacation for two weeks for july 4th. they're running out of time before the august recess. maria: you know, it's interesting to see all of this move to come up with more spending when, in fact, you have an economy that is growing strongly. aside from infrastructure, is there anything here that's truly necessary to spend so much in terms of trillions plus when you're talking about the debt,
where it is, $28 trillion in. >> no, that's a great question. obviously, the debt and the deficit have just been exploding especially in the wake of the pandemic, and that is the question x. some republicans do not want to spend a trillion dollars. they think that's far too much and that eventually we're going to have to deal with these bills. i mean, listen, medicare is going bankrupt. this is going to be a problem. and neither party has a clean record here. but at some point, some president, some congress is going to have to deal with getting our debt and deficit under control because it's right now kind of out of control. maria: what about d.c. statehood? this bill is headed to a senate committee hearing this morning, bob. do you think this legislation passes to make washington, d.c. the country's 51st state? >> i don't think so. and democrats are spending a lot of time on some bills like the voting rights bill that they're going to tackle today, d.c. statehood -- which has more
support than it's had before, but it's unclear if it can get out of committee. senator sinema has indicated where she is, senator manchin has major concerns about this legislation. the only way, maria, that they could get this through the senate is getting rid of the legislative filibuster. and we see senator sinema wrote an op-ed sticking to the filibuster saying we need to end keep it. and, of course, senator manchin has said he's not going to got rid of it, so so they don't have the votes here. democrats have to realize they have very slim majorities in both the house and senate. passing anything is difficult, much less a controversial bill like d.c. statehood. maria: so then there's kamala harris, bob. what do you make of president biden tapping the vice president once again for another job, to lead the child tax credit push? this comes as kamala harris still has not been to the border after being named border czar months ago. >> no, she hasn't gone to the
border. you know, i thought that they were going to check off that box weeks or months ago. they have decided not to do it. her visit to central america did not do well, and she couldn't answer the question when she was going to go to the border. now she's got more responsibilities, which is always good for a vice president, someone who could be the nominee in 2024. but voters are split on that, on her as far as her polling. she's right kind of in the muddle. not underwater but not over water. i think that harris, i mean, this could be very popular, this child tax credit, if there's no fraud and there's no snags. the urs is kind of -- irs is kind of inundated with a lot of responsibility. remains to be seen how smoothly the implementation of this law is going to happen. maria: are there any rules around this child credit? in other words, that it must be used for the child? you know, because this $300 a week has been, obviously, debated and criticized for one
of the reasons that people are not going back the work. so i'm wondering what the rules are around this additional $300 that is supposed to be for a child credit. >> oh, as i understand it, no, there's no stipulations. you get it either in your banking account or you get a which can. one way or the other -- a check. and certain thresholds, obviously, with this many. but there's no rules. maria: bob, thank you so much. we will catch up soon. bob cusack joining us. coming up, ecohealth held peter dasic are released of his duties as the probe into covid's origin goes deep or. we are on it next. stay with us for that. and then why some think jeff bezos should is stay in space ahead of this blue origin flight. we will tell you all about it, stay with us. ♪ the lexus is.
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maria: welcome back. british scientist peter daszak removed from the u.n. commission which is looking into the origins of covid-19 after he secretly helped denounce the lab leak and failed to mention his ties to wuhan. daszak has new york city-based nonprofit ecohealth alliance which allegedly directed the hundreds of thousands of dollars to the wuhan institute of virology doing gain of function research. in february of last year, he helped organize a statement signed by more than two dozen scientists claiming the lab leak was a conspiracy theory in the lance it medical journal. he denies he or his nonprofit received any money from the chinese government. dagen, this is a big deal, as you know, because this is the individual who just trashed the idea that any gain of function
research or any activity in the wuhan lab had anything to do with covid-19. in fact, i put out a tweet myself saying it was likely a year ago, and he trashed that tweet as well. there it is. coming up with the idea that i know nothing, and i don't know what i'm talking about. meanwhile, the whole time he knew that he had sent the money to the wuhan lab are. >> i love how he's leaning on the world health organization which was conflicted from the beginning and lying on behalf of china at the very beginning of the pandemic. that being said, this statement that daszak organized that was in the lancet with more than two dozen cigna a tours of it -- signatories of it was intended to divert attention away from any discussion of a leak from the wuhan virology lab and focus it on natural or zoonotic
origins. and there was a blatant conflict of interest daszak had because he was funneling hundreds of thousands of dollars in research money into that very lab. a conflict of enter that should have been disclosed -- interest that should have been disclosed then. he mailed or contacted tony fauci some weeks later thanking him for, again, diverting attention away from any discussion of a lab leak and focusing it on animals which we to this day, the scientific community has not identified any natural origin for this coronavirus. and it also goes to the point of, like, did -- i raise this question, and if all i'm doing is posing it, but did daszak's interference in the investigation or attention to a possible lab leak, did it ultimately wipe away the
opportunity for the world to find out where this virus came from and why 4 million people dead or almost 4 million people? maria: right. giving them that time toll destroy evidence finish to destroy evidence is what you're saying. >> yeah. now it's gone. and i'll point out one thing, that the world health organization team that was full of conflicts of interest, and daszak was the american on the team. and he collaborated with the virology lab for years and supported gain of function research. maria: yeah. yep. so while we have the world health organization supposedly trying to figure out what the origins are, here he's on that team who, of course, has been getting in the way of actually getting to the truth. so he has been removed from that position. we'll take a break, and we are watching iran this morning. the new harold-line president --
hard-lewin president there rebuffing calls to reel in the program and why the biden administration wants to get a deal done with iran before his inauguration. we're going to talk about it. then crypto crash, what's pushing bitcoin and other digital assets down this morning. we are on it, stay with us. ♪ ♪ this isn't just freight. these aren't just shipments. they're promises. big promises. small promises. cuddly shaped promises. each with a time and a place they've been promised to be. and the people of old dominion never turn away a promise. or over promise. or make an empty promise. we keep them. a promise is everything to old dominion, because it means everything to you.
maria: welcome back. good tuesday morning, everybody. thanks so much for joining us, i'm maria bartiromo, and it is tuesday, june 22nd. a look at markets where futures are indicating a mixed opening. dow industrials down just 4 points, the s&p down 1.25 and the nasdaq weaker by 4 points. we are waiting to hear from jay powell today every testifying before lawmakers later this
afternoon. investors are closely watching what he has to say about inflation and the economic recovery. yesterday all three major averages rebounded nicely after a tough week last week. dow industrials at the close yesterday were up 586 points. we have cyclicals and it can doing well. the nasdaq was up 111 at the close and the s&p 500 higher by 58. check global a markets this morning, and you've got a mixed story in europe this morning. as you can see, the cac is up 1.5, but the dax is lower by 7.5. here, too, inflation fears tightening monetary policy, potential has investors waiting and cautious. in asia overnight take a look at the numbers. this is a mixed story as well. the best performer was japan. nikkei e average up better than 3 percent. back in the u.s., a police officer killed in the line of duty in the colorado. cheryl casone with the details. good morning to you. >> reporter: good morning, maria. this is a heartbreaking story.
three people, including the officer, killed in colorado. the officer, gordon beasley, was a 19-year veteran of the force. the others killed include the shooter and a third person described as a samaritan. police have not said what led up to the shooting or a possible motive. well, millions of americans are on alert this morning as storms move across the northeast. this is the same system that spawned an ef3 tornado in the chicago suburbs on sunday night, injuring at least eight people and causing widespread damage. tornadoes were also reported in michigan, iowa, indiana ohio. well, some breaking news this morning, google is front and center of an antitrust the probe by the european union. the european commission is claiming the tech giant abuses its leading role in the advertising technology sector. it plans to look into google's practices that involves the brokering of advertisement. the e.u. also is going to explore google's sharing of user
data with advertisers on the site and on various apps. take a look at the parent if company, alphabet, in the premarket. stock is actually down just a fraction if, quarter of a percent. well, police arrest eight people during a protest outside the home of texas senator ted cruz. they were part of a group of nearly 70 climate activists. they were chanting, holding signs. not clear whether the senator's family was inside during this time, but this is the second demonstration at cruz's houston home in just the last few months, maria. those are some of your headlines from the newsroom. back to you. maria: thank you so much, cheryl. confronting tehran, the new iranian president-elect speaking out in his first press conference yesterday saying that the country's ballistic missile program is nonnegotiable. the incoming iranian leader also emphasized he will not meet with president biden. this as republicans criticizing the biden administration for his, joe biden's efforts to rejoin the iran nuclear deal
after president trump pulled the u.s. out of it back in 2018. joining me right now is retired general, fox news strategic senior analyst jen jack keane. -- general jack keane. thanks very much. let me just point out that axios over the weekend reported that president biden wants to get the u.s. back into the iran deal, so much so he wants to, hopefully, get some kind of an agreement before the president is actually two inaugurated in august. your thoughts on where we stand here with iran. >> well, this is pretty interesting, what raisi is saying here, because just last sunday the national security adviser for the biden administration, jake sullivan, said on the chris wallace show that, yes, they're trying to get back to the original 2015 nuclear deal. and they were advertising at the beginning of their administration they fully intended to lengthen the deal; that is, the 15 years pathway to
a nuclear weapon, the so-called sunset clause would be extended, and they would strengthen the deal by prohibiting ballistic missile development and curb their behavior in the region. and on sunday he admitted, well, that's not going to take place now in the original negotiations that are taking place over the original deal. it's going to take place in a so-called phase two later on. well, raisi just pulled the rug out from underneath that because he said, one, ballistic missile development is not a negotiated item and, two, how we conduct, how we conduct foreign policy in the region with our proxies is our business, and that's off the table as well. so these are the issues that secretary kerry tried to negotiate with in 2015 and the iranians threatened to pull out and stop the negotiations. so we are capitulating once again to a fundamentally flawed deal. maria: why?
i mean, why, general? look, we've talked a lot about china and the threat of communist china. but when you're looking at iran, you're looking at a country potentially run by people who are supporting terrorists. you know, john ratcliffe over the weekend said to me iran is very different than china because, yes, china is an authoritarian state, but iran is run by terrorists. why is he so interested and, you know, this obsession to get back into the iran nuclear deal? >> yeah, i think the fundamental belief is, is that, one, they're denying the fact that iran -- as we well know now after the israelis raided a warehouse and took out classified information in 2018 from tehran, that the iranians are secretly conducting advanced centrifuge production and also enriching uranium and
making the other instruments it takes to produce a nuclear weapon. and they put that aside. and the idea is, is that if they can get into this deal with this rogue regime that, obviously, is lying through their teeth and reduce the uranium enrichment and reduce the centrifuges, that welcome buy time. buy time for what? there's nine years left. the idea is in those nine years -- and this is the basic premise that obama had and biden has -- the iranian regime will become a responsible nation in the community of nations and, therefore, would not pursue a nuclear weapon which would lead to an arms race in the middle east. so what is the evidence that iran will become a responsible nation? maria: yeah. >> since 2015 the original deal, here's what they've done, they invaded yemen with their houthis and toppled the government friendly to the united states, they've conducted multiple attacks on saudi arabia to
include their largest oil field that saudi arabia has. multiple attacks on u.s. troops in iraq. two chemical attacks their clients used on their own people in syria. and we just saw an 11-day fuselage of rockets and missiles all provided by iran, from iran to their proxies raining down on israel. this has been their behavior, and yet the biden administration believes in the nine years that are left somehow iran will become a responsible nation. that is absolutely preposterous, and they're in denial over this. maria: that's right. yeah. i don't -- we're going to have to watch this. it's very serious. just as serious as the china threat. let's talk about china and its propaganda. i a want to point your tax to this "wall street journal" op-ed e recently titled xi's rewriting of history won't stay in china. it highlights the global impact
that xi jinping and the communist party and its propaganda. americans should take heed, censorship that starts in china does not stay in china. and, general, they go through the facts of how the chinese communist party tries to rewrite history. you're, obviously, not allowed to know anything about what happened in tiananmen square. if you're in china, you can't, obviously, google any of that or get the details on that. but there's more than that. i mean, they tried to censor and change so many stories, they're following the political debates in america. so when the journal says, when the censorship starts in china it doesn't stay in china, we're actually seeing that take place here in the u.s. as well. and the censorship may very well be coming from the ccp. what do we do about this? >> yeah. this is the reality of what we're doing, we've got to come prehend how massive controlling information is to the chinese.
they know full well, they need the willing support and submission of their people. the social compact. they let the ccp control their lives. they have to submit to them and, therefore, they can have their own economic and prosperous advancement based on their own capabilities. what has actually happened here? they obscure their history, cultural revolution. when mao tse-tung killed over a million of his own people, tiananmen square, as you say, and when people come out and speak against that, they repress that. and then they get sympathizers, apologists to say, well, it's really not so bad what's going on in china. look at the recent repression. just last week 500 police raided apple daily, which is an anti-communist party publication that jimmy lye owns, and he is sitting in a jailhouse in hong kong. can you imagine this? 500 police enter a newspaper's
headquarters and pull out of there their senior executives, managing editors, and put them in jail. freedom of the press is dead in hong kong. now, why are they doing that? because the apple daily criticizes the chinese communist party, and china will have none of it. maria: right. >> facebook, in this country, up until just in may has been denying any accusations in facebook against the origins of -- maria: that's right. >> -- of the virus coming out of the wuhan lab. maria: coronavirus. that's right. >> and they just finally, finally removed that reduction. that is censorship this our own country. that's what the author, paul wolfowitz, was talking about, how it spreads outside china and contaminates. maria: and we did a whole show on it this last sunday that, you know, the social media has censored truth. when did they become the arbiters of truth to tell us that, you know, how the
coronavirus started when we knew that all the circumstantial evidence pointed to a lab incident, and yet they're censoring it, in touch with dr. anthony fauci so that they can go with the narrative of the establishment or go with the narrative of the ccp. that's not the first thing, that's not the first time we've seen this. they've censored hunter biden. they've censored other things about president trump. they banned trump. they banned the senator ron johnson for pointing out that there were actually too manies for covid. i've member tin. i had a doctor on this sunday. it's off patent, pharmaceutical companies are not making any money on it, and now we hear the hhs talking about investing $3 billion in fining a treatment for covid -- finding a treatment for covid. what happened at the beginning of the pandemic when nobody had any access to treatment because
social media banned it and censored it? so you're right, the journal's right, and it's a very concerning situation because social media has just decided what their going to run is truth. >> yeah. the good news about all of that, and it's very frustrating listening to what you just said and understanding how that distorted the reality of what america and americans were facing here in this country. but, you know, the truth does win out. it's finally here. maria: yeah. >> and just as the collusion charges dealing with the trump administration, finally the truth came out. now the truth is coming out about the therapeutics, hydrochloroquine and other things that turn out to be some value to people and actually have saved countless lives. so, yes -- maria: that's right. >> -- we have to push back at censorship in any form that occurs in this country, and we have to speak out against it when it's going on in russia and it's going on in china with the
chinese communist party and when it's happening in hong kong. we have to have a strong voice against it. maria: that's right. i, that's why i continue to do it. unfortunately, 600,000 americans are dead at this point over the last year. general, it's good to see you this morning. we'll keep a spotlight on it all. we so appreciate your time. general jack keane. stay with us, we'll be right back. ng weekend. at thrivent, we believe money is a tool, not a goal. to learn more, text thrive to 444555, or visit thrivent.com.
maria: welcome back. china is intensifying its crackdown on cryptocurrency. the government ordering the country's biggest banks to, quote, strictly implement rules that restrict them from providing crypto-related services. this as chinese officials are ordering a shutdown of crypto mining in several regions of the country, effectively closing more than 90% of its bitcoin mining capacity. joining me right now is the chairman of the chamber of digital commerce and block cofounder matthew rose act. great to have you. thanks very much. let me get, first, your initial thoughts on this crackdown coming out of china. we know that the ccp is also building its own efforts to create the digital yuan. is that what's behind this in? >> yeah, i think this is pretty incredible to watch.
and just looking at a history lesson of bitcoin in china, china was an early adopter of bitcoin. a lot of the, changes early days, a lot of the miners early days were born this china, and china was a big ten stone to -- step stone to where bitcoin is today. but we have seen systematic clampdowns by the chinese government on bitcoin. we saw this in 2013, we saw it in 2017 where a lot of exchanges were ushered outside of china which in many ways benefited companies like bytedance. and now we're seeing mining being banned and more recently banks have clamped down, ali pay, wepay and other fin-techs and financial services companies in china are putting a clamp down. and it's incredible to watch. and what that does is usher the
kind of opportunity to the u.s. and the rest of the world in terms of adopting that bitcoin mining and really creating an unprecedented opportunity outside of china. and i think to a big extent, this is exactly where you were going, is it's producting this rollout of the digital yuan. maria: so what are the implications of that, matthew? i mean, if china is pushing forth on its digital yuan, they want to, obviously, dominate digital currency, what do you think the implications are for the world? >> well, i think having a digital yuan, a centralized, surveilled monetary the system that they are rolling out is very different from bitcoin or any, many of the other cryptocurrencies out there. so this is the a go to market part of their strategy to try and dissuade folks from using
bitcoin, engaging in bitcoin and maybe other cryptos. so it's a go to market, protectionist thing. i view this as a $100 trillion blunder. this is a geopolitical mistake that is of significant consequence. i think this'll be looked back on as one of the biggest blunders in modern history for china given where -- maria: given to china. >> -- the potential. maria: yeah, to give it to china. matthew, we need to talk about this morn. matthew roszak, we'll be right back. a product of mastery. get 0.9% apr financing on the 2021 es 350. experience amazing at your lexus dealer.
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bezos in space permanently reaches a major milestone. the petition created two weeks ago has more than 75,000 signatures. they say the amazon founder is set to fly to space next month with his brother and an auction winner, and the 75,000 people are saying stay there. the organizer of the petition believes billionaires should not exist on earth or in space, but if they go to space, they should stay there, dagen. >> i don't think anyone is wishing harm on jeff be. i read it as a joke -- jeff bezos. it's like maybe we see you too much, bezos. [laughter] and i do know people who have actually circulated this petition and probably signed it. [laughter] he gets tiresome. amazon's fine, you know what? again, he's like ben affleck without the looks. just kind of go away for a little while. [laughter] just, you know, take a -- buy an
island somewhere and just stay there and operate remotely. [laughter] maria: all right. that is too much. all right, we'll take a break. when we come back, the fed on the hill today. oil's important and the price is going up and the dollar versus crypto. it's all coming up. top investors watching your money with the word on wall street. it all a starts next hour right here. "mornings with maria" is live on fox business. ♪ na na na na ♪ na na na na... .. ♪ na na na na... ♪ hey hey hey. ♪ goodbye.
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coming off of the rally, this morning dow industrials down 19 points, the nasdaq extending a rally up 9 and a quarter points. jay powell will testify before lawmakers, investors will be closely watching on the economic recovery. all 3 major averages rebounded big-time ending session highs after a selloff last week, don't just real selling 586 points, the nasdaq up 111 in the s&p 500 higher by 58. markets this morning are mixed. look at european indices, inflation fears, tightening of monetary policies are hovering, the s&p up 21, the cac quarante up 24 the dax index higher by a third of a point. fractional moves in europe, a mixed story and japan, the nikkei average up better than
3%. "mornings with maria" live right now. some of the top stories, president biden meeting with lawmakers to strike a deal on infrastructure spending, bipartisan group of 21 senators pushing a $1 trillion proposal on transportation, broadband and water systems, the white house has raised questions how lawmakers plan to pay for it. he wants to raise taxes and the extreme left is saying the tax increases are not enough in the fight against climate change. senate democrats looking to appease members of the progressive left with $6 trillion reconciliation bill including an overhaul of medicare lowering the eligibility age, to include dental and vision care, chuck schumer and bernie sanders behind this proposal unlikely
to receive support from senate democrats and no support. british doctor being removed from the un commission tasked with investigating the origins of covid 19. the new york city-based nonprofit eco-health alliance which allegedly directed hundreds of thousands of dollars from the nih to the wuhan lab. in february of 2020 they organized the statement signed by 2 dozen scientists claiming the lab leak was a conspiracy theory, for gain of function research. they've not received the money from the chinese government. >> the latest covid hotspot, 1 million people died across 12 countries in the region making per capita death rate eight times the world's rate, officials blame the spike on a slow vaccination rate as well as the spread of new variants.
south america is 5% of the population but is now a lion's share of all deaths. top investors watching new money. the university of akron investment fund, chairman dennis gardman and institutional services director, distributors, sean o'hara. good to see you. kicking things off with you, futures searching for direction but we are waiting on jay powell today. on capitol hill, the s&p and nasdaq up fractionally. it is transitory. what do you see in terms of flows on the worry of inflation. >> don't expect a lot of
bombshells. it is dribbling out bits and pieces, a little bit of disagreement about tapering, you see that change. the fed started tightening, and that happened in 2013-18 as well. investors need to pay more attention to that and less to the actual interest rate and bellwether. from our perspective we see great asset growth. we are up 40% since february in terms of assets under management, we are getting assets into free cash flow strategy which is a defense if position against rising rates and rising inflation, it hurts growth because you are buying future earnings that need to be discounted by inflation and using current free cash flow gets a current return.
those of done particularly well in this environment, double the markets return, small caps in that strategy had a terrific year. a fixed income strategy in high-yield not wedded to stay there. and with the fixed income the side, and makes the big challenge. maria: look no further than the price of oil. brent oil, $75 a barrel for the first time since 2019 and oil has seen a major comeback with travel restrictions. look where we are on crude oil
at $73.15 a barrel. you call crude the most important commodity. tell us about the impact of $73 a barrel oil. >> last week we were so gleeful about the crash of commodities people lost perspective. crude is the commodity as important as all the rest put together. to put that in perspective we import $140 billion worth of crude, next is lumber which is the poster child for the commodity spike, one 6 of that. crude is a big deal, anecdotally at my restaurant we are planning a big dick expansion. when we saw the price of lumber, 40 grand more, we canceled the project. there are thousands playing all over the country, lumber you can decide to not use, nobody can decide not to use crude. it is intertwined in everything we do. when we put this trade on 6 or
7 months ago the original thesis was the reopening, it has been forgotten in the commodity run up. thesis has changed a bit. saber rattling talking about regulation, and to trade with crude, those rally with crude, and i like crude, crude broke to new highs. we are moving to 77, 78, don't think we are going much higher which is 77, 78. >> i wonder if this keeps interest rates down in the bond
market, you have to believe the higher crude goes the higher potential to slow the economy. is this the opposite given we talk about higher interest rates, yields on the 10 year are down with low one.5% on the 10 year. oil has something to do with it because you have to believe higher oil prices slowed down economic growth? >> it is a mixed bag, 10 million jobs supported by the oil and gas industry, $330 billion of domestic revenue, it is 50/50 on that. maria: not seeing high-yield oriole prices, slowing down the economy. that was my question. ultimately -- okay.
the dollar down after gaining sharply. around crypto trying to continue this crackdown. >> the question, will bitcoin give up 30,000 i have a real suspicion. it is right at 17 and looks like it goes lower. as far as the dollar is concerned, taking the euro, trading at 123 five weeks ago, the trends in the euro is lower left to upper right, a bull market for a while and i suspect what we had in the past
two weeks as we've gone from 123 to 118 and the last weekend a half predicated on the fed beginning a process of tightening money supply, tightening monetary aggregates which they put off until late next year. a long time until late next year, the dollar has run its course predicated on that tightening. if you had to be a buyer of something i would be a buyer of the euro and you have a small risk of no more than 25 to 35 basis points, trading under 118. i think it goes back to 123-124. too many people joined long dollar trade predicated on fed tightening a year and a half off into the future. maria: you think the dollar rally is coming to a end. great to see you all. great word on wall street. much more ahead this morning, probe into the origins of coronavirus deepens, we are looking at what is next as the white house says it will not
issue any threats to china. we are getting input from capitol hill this morning. and and drugs crossing the southern border. and highlighting the rising crime, 8:30 a.m. eastern. joining the conversation, dagan mcdowell and nancy, back to this fantastic panel when we come right back. you are watching morris with maria on foxbusiness. plans for the long term, and plans for a long weekend. assets you allocate, and ones you hold tight. at thrivent, we believe money is a tool, not a goal. and with the right guidance, you can get the financial clarity you need, and live a life rich in meaning, and gratitude. to learn more, text thrive to 444555,
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on this on the press conference. >> on covid 19 origins jake sullivan said of china does not invest to get his probe this they will face isolation in the international community. what does they think they will care about? >> what they are referring to is the global community has taken notice. the pressure on china to be a participant and provide transparent data and access in this case, china wants to have a role in the global community and global conversation and they will take note of that. maria: joining me a state department investigator and hudson institute senior fellow david after. thanks for being here.
you probed covid origins for the state department gamma give us your reaction to what you just heard and where we are in terms of holding china accountable. >> we are not really anywhere in terms of holding china accountable but i understand the white house coming out with something more draconian like sanctions, unleashing ambulance chasing lawyers in new york and new jersey and florida where they reside to go after the chinese with lawsuits on behalf of american victims of covid but we need to do something more, the idea that we are waiting for china to cooperate with the who and the global community is fantasy full. they know that. maria: it seems like doctor anthony fauci decided a long time ago where this was going and he worked with social media
to take down any information he did not agree with. we have emails between fauci and facebook founder mark zuckerberg talking about an information hub. we also know that any information about treatment of covid earlier in the pandemic were censored. here senator ron johnson on sunday morning futures with me on sunday talking about all of the censorship around covid and how the media has politicized even that. watch this. >> your thoughts on what has taken place here in terms of the censorship. >> the fact of the matter is hundreds of thousands of people lost their lives because of politicization of covid. my plea to americans is gone other social media sites. this information is not 100% suppressed. if you get covid seek a doctor who will treat your disease because there is treatment for it but belies being told, false narratives across the board in
instance after instance is affecting our politics. the media got there guy election and a are not going to admit they have been wrong and it will cost lives. maria: it is pretty extraordinary. we were having a conversation with senator johnson and doctor peter corrie. what doctor corey said is there is a drug that has been on the market for decades made by merck. the major pharmaceutical companies are not making money on it but it was censored and it is incredibly effective in treating covid and treating disease at the onset of disease. now the hhs announced they will spend $3 billion looking for treatments you can be giving people at the beginning of this disease is even fauci said
treating covid with uphill, taking an oral medicine at home will be a very important tool in our toolbox. that was available early in 2020, but 600,000 people died because of covid. >> i am a doctor of international relations focusing on asia, not medicine but i want to focus attention on what they are doing with this information, they systematically tried to distort the story. i'm not saying they manipulated doctor fauci but they manipulated certainly social media a lot. the chinese information operations wuhan whitewash has been very extensive and the latest version of that was the bat lady saying the dangerous work on the disease very into
killed minors directly from back in 2012-13 was done in a level 2 laboratory. the lab safety of a dentist office. i think the chinese even in the midst of disinformation are starting to tell us a plausible story in between the lies has to how this started. if they were doing research on a daily coronavirus theory and it became covid 19 later on as it evolved in a dentist office type environment we can understand how it got out of the lab and why they put in such an effort to misinform everybody. how the nih gets involved -- maria: this whitewash was going on at the world health organization. now we know peter dazach has been removed from the commission looking into the origins of covid 19 after he secretly help denounce the lab leak theory, failed to mention his ties to wuhan when he was actually the guy who directed
money from the nih to the wuhan lab of virology in his nonprofit. >> ended under some contract to a government agency without declaring it. i've been looking at those contracts and it looks very suspicious. i hope the fbi and other agencies investigate. maria: we are hoping they are not politicized, thanks for being here this morning, we want to continue the conversation with you. we will continue that, see you soon. that does the same. the rx crafted by lexus. get 1.9% apr financing on the 2021 rx 350. experience amazing at your lexus dealer. i became a sofi member because i needed to consolidate my credit card debt. i needed just one simple way to pay it all off. it was an easy decision to apply with sofi loans, just based on the interest rate and how much i would be saving.
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vote on whether to debater democrat voting bill, little republican support is expected as gop led states across the country and their own voter legislation. a recent poll from monmouth university shows 80% of americans support photo id checks at the ballot box, something many democrat lawmakers say is a form of voter suppression. pretty strong support for voter id, you need a photo id for everything pretty much in this world but democrats would rather not have a id to vote. your thoughts? >> i thought the results were quite remarkable, 91% of republicans, 80% of independents, 62% of democrats think it is a good idea to have some form of identification. when i lived in california you weren't allowed to show your identification and everyone
votes in their communities so i knew the people but i started voting with my drivers license, i brought my passport and they wouldn't take that. i think it makes sense, americans are sensible and this is really a remarkable result. maria: your thoughts? dagen: the problem with what congress is doing and house democrats did and was will fail in the senate is they are federalizing voting laws and taking power from the states and that goes against the way this nation was set up. therein lies the real problem with what is happening in washington. maria: we will continue watching this. there's a reason so many state of come up with new voting laws, because they don't trust and want to make sure photo ids are there. we are focusing on spending this one, watching the biden spending package as senators
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tower industrials up 24, the nasdaq up 41.5, major averages in triple digits, with dow industrials rebounding up 586 points, nasdaq was up 111 and the s&p higher by 50 a. global markets mixed, european indices, with monetary policies, s&p up 25, that is higher by 23. the mixed story, the best performer in japan, the nikkei better than 3%. delta airlines going on a hiring spree. >> taken to this tries, and the
las vegas raiders, coming out as gay. is the first nfl player to do so while still playing in the lead. >> i want to say that i'm gay. that representation, visibility is important. maria: in a statement, nfl commissioner roger goodell said they added representation matters. those are your headlines, back to you. maria: a bipartisan group of 21 senators pushing for a $1 trillion hard infrastructure package as opposed to multi-trillion the president biden wants to spend, some democrats fighting this proposal. they favor a package that is 5 times as big.
paid for at least $2 trillion in higher new taxes. president biden will meet with lawmakers and have questions from lawmakers on how they want to pay for the $1 trillion package. biden wants to raise taxes across the board. he is having trouble getting his ideas through the democrats. he doesn't have full support there. joining me as bentivegna congressman is member of the transportation and infrastructure committee scott perry. great to see you. what are the odds lawmakers get a deal done? >> it will be tough. this is not necessarily the road to nowhere, this is the road to ruin and time for president biden to drop the progressives by the side of the road and turn the car around. most of this, we tried to move their bill in the house, half of it was the green new deal, it's not the green new deal, might as well be called the red
new deal because it imports everything china builds, battery technology, charging station, infrastructure and it will have employers in a sea of red ink and pink slips so senatoritoh was historically spending, and as you stated that doesn't come close to what they want. we will be printing this many, taxing this money and spending it on things like childcare and other assisted care which is all important stuff but not infrastructure. they want to put it in the infrastructure package because they know the american people always supported infrastructure and so once again acting like they are being bipartisan is not really being bipartisan. you have to be bipartisan. what they are trying to do, what they did in our committee is force this thing down our throats, my way or the highway, they took the vote and it passed on partisan lines. the narrative is one thing but the reality is another.
maria: what is the point of this? president biden had his $1.9 trillion covid relief package passed in march. the economy is growing without more spending, without adding more trillions of dollars to our $20 trillion in debt. why come up with these packages just to fundamentally transform our economy or because it is a new president that wants to prove the old president was wrong about everything? who are we helping with all this spending in an environment where things are going fine with the economy reopening and growth expected this year? >> you said it. to fundamentally transform the united states of america. this is the third term of president barack obama and he meant it and this is where they do it. infrastructure has widespread appeal because most people think it means roads and bridges, broadband, water, sewer, airports and those things.
half of this bill is supporting green new deal and more socialist policies. that is the goal of this, spending at an unbelievable unsustainable level and it means more printing of money which means higher inflation and more taxes which means driving people out of the employment market but they don't care about that. this is a socialist agenda. you already pointed out, you are very prescient. you've got it targeted up front. maria: you want to better understand the priorities of this administration look no further than president biden's budget he dropped for friday before long memorial day weekend and in that budget we see an increase of 22% from the
epa and no increases for defense spending. it was up one.6% which is negative compared to inflation, running at a 4% inflation rate, no increases for homeland security. while he is talking and doing all the meetings with lawmakers every week trying to come up with more spending there's no concern, no attention paid to the border and our homeland security, border patrol agents seized $1.8 million worth of drugs at the southern border this weekend. over the weekend they arrested 178 migrants apprehending our border. these are national security issues. americans are worried about these policies, wide open borders, defund the police, no cash bail that has led to massive spikes in crimea and we are here debating whether or not we should add money for electric vehicles.
>> you got to laugh at it because it is so insane you will drive yourself crazy if you think about it. you are right. these are the things we should be focused on, the vice president hasn't gone to the border. i have gone to the border and seen 2 thirds of the people that are coming illegally to the united states don't have any geographical connection to the united states of america. they are flying to central america and mexico and walking across the border illegally. fentanyl seizures up 300%, huge spikes in illegal traffic coming across the border and the administration doesn't like the optics of what they are going to do, increase the efficiency at which they bring these illegal nationals, illegal immigrants into the interior of the country, that is what they are going to do and american citizens are right to be concerned, it will increase taxes and lower the ability of their children to
get their first time job as unskilled labor pours into the country and the national security concerns as we see lawlessness, literally we are watching homicides occur in real-time on our televisions and you've got the mayor of chicago acting like nothing has changed and nothing can be done except defund the police and increase social services. that doesn't stop criminals from killing people. nobody wants to go to our cities because they fear for their safety and rightly so. maria: absolutely right and we can't mention the border without mentioning covid. the story today, one of the lead stories in the wall street journal south america is the covid 19 hotspot, eight times the world death rate. covid is receding in much of the world, the pandemic is raging in south america, the first graph of the story in the journal which has 5% of the
world's population but account for a quarter of the global death toll so here we have these wide open borders for south america and south america almost 1 million people have died across 12 countries in the region among this devastating surge brazil surpassed 500,000 this past weekend, the virus killed 7 times as many people per capita every day. no comment about south america being the covid hotspot and we have wide open borders to south america. >> absolutely tragic and stunning. when i was at the border the one country that did have a geographical connection to the united states where migrants were illegally crossing was brazil. no covid testing, they are overwhelmed at the border. putting them in facilities, many of them covid positive and they ship them to the interior of the country where your kids have to wear a mask, social
distance if they are in school at all. living under these, it is insane and people say why would democrats do it and to get into a socialist country, to devolve and dismantle the system. maria: do you think there will be a hard infrastructure deal done. will that lead president biden to push tax increases through reconciliation later this year separately? >> we have to pay for this. it will come through tax increases or printing and inflation. when you say hard infrastructure i don't believe it. the bill we pushed out with 6% to 10%, roads, bridges, ports, airlines, they are not interested in that.
they are interested in you paying for the new electric vehicle charging infrastructure across the country. they are interested in you paying for child care, elder care and calling it infrastructure. there's a chance we will get in infrastructure bill. maria: everything is infrastructure. good to see you. thanks very much. we will keep spotlighting all of this. thank you, we will be right back.
the supreme court ruling against the ncaa saying the organization cannot limit education related benefits for college athletes. schools will be allowed to offer tens of thousands of dollars of benefits to student-athletes including computers, paid internships, graduate scholarships, whether students can be paid salaries from college football, nfl player jack brewer joins us with reaction. great to see you. welcome back. what are your thoughts here? was this the right answer? >> yes but it may be too little too late. it has been a long time coming. the ncaa got in front of this legislation by the supreme court, there are a number of states. to make their own decisions. to have an opportunity to further their education with their new rules.
and get high paid, and and sounds like, supreme court justice gore such, to back these athletes, for paid compensation. that's what we net to get to in college sports but it will for sure change the landscape. now you won't be able to just do traditional recruiting, there will be so many educational incentives and for people like me i got my masters degree before going to the national football league, i always dream of more professional athletes being able to get masters degrees and postsecondary degrees.
when you are playing college sports you can't have time to focus on your education. these athletes should be able to continue their education and not to bear the financial burden of paying for themselves. this is an amazing ruling and i applaud this bipartisan approach by all justices. maria: it never made sense to me the college athletes couldn't be paid. i don't know why that was the rule from the beginning. it never made sense and you say too little too late. it is not actual salaries but there are, quote, benefits they will be paid. >> real benefits but keep in mind the ncaa has one week and it is a major decision they have to make. 44 states across the country have not declared what they will do with name and likeness.
if they don't rule on that then schools all over the country will be able to set their own rules so they will be able to start paying college athletes. a lot of issues to take on at this time, hopefully you will see they will stay in school longer, in the nfl draft board, 50% of the kids that were going to get drafted were underclassmen who did not have their degree. it shouldn't be that way. you should be able to stay in school long enough and be incentivized to stay in school long enough to earn your degree. maria: jump in here. dagen: 7 states put on the books laws that will allow student athletes to pay for their name, image and likeness. the ncaa is way behind as jack said and brett kavanaugh rights in favor of the athletes
justice for all. >> i note that that is out of order. maria: your thoughts. >> at a county meeting, couldn't find a flag to say the pledge of allegiance do, he always wore an american flag belt buckle and we pledged allegiance to it. i love that about the country and glad these people were out of order and stood up and said the pledge. maria: what do you think? that was out of order. you can take that and stick it where the sun doesn't shine. maria: macy gray catching some heat recently. dagen: she once saying the national anthem.
maria: the institute chairman michael milken is here talking about cancer research, staying healthy in 2021, don't miss this exclusive on the other side of this break starting in the next hour. "mornings with maria" live on foxbusiness. ♪♪ like a rolling stone ♪♪ ♪ na na na na... ♪ hey hey hey. ♪ goodbye. ♪ na na na na... ♪ hey hey hey. ♪ goodbye. ♪ na na na na ♪ na na na na... the world's first six-function multipro tailgate. available on the gmc sierra. the world's first six-function there's interest you accrue, and interests you pursue. plans for the long term,
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maria: welcome back. good tuesday morning things so much for joining us. i'm maria bartiromo, tuesday, june 22 top stories 8:00 a.m. on the nose on the east coast, failing to do one job right give her another vice president kamala harris take on another task the border crisis getting worse failout coming up market higher we've seen pretty good momentum win last hour or so as we await the federal reserve the dow industrials up 31 s&p up 6
points nasdaq up 39. jay powell will testify ahead of lawmakers on capitol hill that will happen 2:00 pm eastern already released remarks talking about inflation transitory economic recovery, the dow industrials, are now higher, as are all major averages this morning yesterday big rally for major averages ending in session high dow industrials up 586 points yesterday, at 4:00 wall street 1 3/4% nasdaq up 111 s&p higher by 58 markets in europe mixed to hire ft 100 up 27 cac quarante up 6, dax higher by 27 the completely reflect as well same issues, worry investors in europe, in asia overnight, a mixed story best in asia was japan nikkei average rallied better than 3%
on the session, on heels of big rally on wall street "mornings with maria" is live right now. >> now top stories that we are watching this morning president biden will continue meeting with lawmakers this week as he tries to strike a deal on infrastructure, a bipartisan group 21 senators pushing one trillion-dollar proposal on transportation broad band water systems all considered hard infrastructure. the white house asking lawmakers how they will pay for that -- joe biden wants to raise taxes, to pay for much higher priced package, the extreme left liberals calling deal inadequate in fight against climate change want higher taxes to pay for a new structure, of the economy. financial rig lateors asomehowing biden the seasonal system in good shape mitigated
by robust capital liquidity in banking, yesterday a face-to-face meeting with regulators financial market including jay powell, treasure secretary janet yellen saying making probleming on exo and financial conclusion. >> some democrats looking to appease progressive left 6 trillion-dollar budget reconciliation bill a major overhaul of medicare lowering eligibility age expanding to include dental visioncare senate majority leader behind this proposal, british doctor removed from united nations commission tasked with a gifting origins of covid-19 heads a city a bid nonprofit directed hundreds of those to wuhan lab you remember he organized a statement signed
by two dozen scientists claiming leak was conspiracy theory none scientific as he knew he sent monday for gain of function research he depressed he or nonprofit received monday from chinese communist party. >> crimes on rise across major cities president biden expected to lay out anticrime strategy this week, as the administration plans for a tumultuous summer jen psaki about the president's man. >> the president feels a great deal of crime we're seeing as a result of gun violence you can expect he will speak to that. and his commitment to continuing to address gun violence and gun safety in the country. and certainly, are longtime has passed since the crime bill in 94 he has spoken himself to differences things he would stand by might do differently but i wouldn't see this as a response to that as
much as a conveying to the american people what he is going to do now, to help address, the rides in crime we've seen over the last year and a half. >> joining me right now new york congressman homeland security committee ranking member also joining the conversation all morning long dagen mcdowell, and nancy tenningbler congressman great to have you you this morning, thanks for being here how do you come out anticrime plan you know you have been pushed defunding police so long, it is -- behooves one when you hear jen psaki there, saying we've had a rise in crime over the last year and a half, yeah no kidding because we are defunding the police and the police are not -- are afraid to do what they are supposed to be doing with all reaction against them. >> yeah, it seems to me that they haven't done homework, if they did what i did last friday, law enforcement
agencies across the country you would get a different feel, new york city last week crime off the hook police department by 1/6 morale in toilet down 500, shootings taking place every day, stray bullets hitting children regular basis they expect the end of the year as more people will be shot in new york city if you want to contribute to guns -- a good policing, this is a type of nonsense you get out of white house, if you think about it we need to refund police not defund them, look what is going on in portland, for example, shootings up over one hundred percent, murders up 566%, since they started in defund police movements creating laws that handcuff law enforcement not doing anything to help them, so facing -- going to pass a few gun laws everything
can be fine absolutely not in the touch with reality what is going on across our country. maria: it is extraordinary. you know defund the police, wide-open borders elimination of cash, bail letting all people out of rikers island because they want to redo the prison population, at a much smaller capacity. how do they think this was going to play out? >> they didn't i think just think they can vilify police because the actors of a few not the take into account invest majority police officers, worked two decades before coming to congress vast majority of police officers do incredibly brave great job every single day instead of vilifying ones doing a bad job figure out how to police
departments better how can you train when you defund them get new policies when you cut funding? doesn't work short-sided policies of vilifying police passing bad laws defunding them is why we are where we are right now. we are going to fix that. >> of course it is i won if going to have mea culpas to say maybe we shouldn't have pushed defunding police which alexandria ocasio-cortez is still pushing to this days a we see numbers you said skyrocketing murder levels congressman i want your take on economics while we are talking as well, because i know there is a big debate, about an infrastructure package, president biden wants to raise taxes substantially do you think he is able to get that through? do you think we are going to end up doing a an infrastructure package on hard infrastructure perhaps around
one trillion dollars, biden is going to push through higher taxes in another package in the summer or will new york representatives get their way on the left who want a salt deduction back in there in tax plan? >> well, you are talking about two different things i think infrastructure in and of itself is something i have been working on through work bipartisan problems solvers caucus provided much framework group of senators are working on right now that package is simply only hard infrastructure. as broadband all the other things we need roads, bridges, all things we have neglected so he very long in this country there is awful lot of pay for it that are available for unfused funds cares act spending other things during the pandemic, also revenue weigh always get from highway fund we can get a package funded the proof if pudding
cut taxes economy booms when you raise taxes business go advisories elsewhere this is not time to force businesses overs coming out of once a 100 year pandemic, raising taxes the worst thing you can do the police department they vilify, success in the business world we've got to -- understand that that is a life blood of jobs we create for the men and women in this great country, raise taxes going to hurt ability to have those jobs. >> right what i am trying to understand is whether or not biden is going to be able to get this through because i know that some of your colleagues from new york, and new jersey on the democrat side want the salt deduction to be back in there. so if they are pushing for salt deduction to be back in there, and bernie sanders is saying well i am not going to sign anything with soolt deduction back in there, does he get stuck having an inability to get higher taxes through a second passage?
that is why i am bringing up the salt situation because it you could be one lever that stops biden from being able to push through higher taxes, because you've got new yorkers unwilling to go along with this do you believe he is able to get higher taxes through reconciliation package or does he not have support because of salt deduction? >> i think it is a struggling for him, for the reasons you stated but also because, you think about it there is an awful lot of moderate democrats that are feeling like -- things are slipping away from them, they are very concerned about reelection, i think would make it almost impossible for them to get reelected to keep house if they raise taxes that is just a fact i think the bigs impediment there you are going to faith to royal raising taxes is not going to work for all the reasons you state more
practically the political component is that moderate democrats there is substantial number of them are feeling heat they know the worst thing you can do is -- say to constituents after telling them you raised taxes i think a tough row to hoe with that. >> important topics discussion in your neck of the words new york having to do with crime as well as higher taxes good to see you this morning thanks very much. >> joining us. we will see you soon, sir thank you. much more ahead this morning coming up milken institute charitable michael milken here to caulk about covid nutrients cans research staying healthy in 2021 his thoughts on economics all coming up, your you july 4th cookout "celebrity chef" is here, don't miss a moment you are watching "mornings with maria" live on fox business. type 2 diabetes and now, he's really on his game.
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fighter jimmy lai hong kong publication making a decision whether or not to cease operations until authorities unfreeze assets after a terrible two weeks in recent raid on the apple newsroom police seized journalistic materials threw them in jail charging conspiracy to commit collusion because of news of the chinese chooipdz joining me wolfpack research founder chief investment officer dan david thanks very much for being here what are thoughts on apple daily what we saw how does this play out. >> thank you for having me back always good to be here i just want to say o though it says thoughts with jimmy lai and family a freedom fighter like we've not seen in our country in decade putting it all on the line going to jail, probably never getting out,
losing his business, and apple daily no longer one country two systems not one country one system not putting up with any kind of freedom of speech in this country of this made that very clear. >> where is the outage? during covid pandemic, the chinese communist party has used this pandemic to gain more ground, went into hong kong started throwing people in jail with goose step police, laying down the law of this national security law, as a way to -- lay the law down, in hong kong it went into india invaded himalayan mountains killed soldiers in india bullied maibz in south china sea not even mentions
allowing this deadly virus to escape borders kill four million people across the world. where is obviously, for what has taken place this last year from the ccp, from the rest of the world? >> a there is a -- path there, hong kong to -- virus, where is the outage where is hollywood the documentaries about freedom fighters in hong kong, this is the most under covered kind of event that a he o we talked to dictator in middle east go to people of iraq we say here is democracy they are what democracy we want a better dictator you cannot give people democracy they have to fight for it plead for it want it, hong kongers are doing that, we are doing nothing to help them, this is just a shame, what do we think people of taiwan are seeing right now? we're not protecting them we
still are giving hong kong special status we still have almost a trillion dollars in pension funds, from united states, flowing into hong kong exchanges, because of that special status we say one thing in this administration, about being hard line on china, but the money still follows, that is contradictory to any -- now we are slow playing, we are this might have come out of the lack. okay came out of the lab, you know, stop slow playing it you know that is going to come out even, china is now saying it came out of the lab only saying came out of our lab, okay, whatever. maria: right, yeah -- it is all of this it is all this propaganda from chinese communist party our social media companies running with it journal reported propaganda
censorship in china does not stay in china ccp is behind a lot of this all as china is trying to dominate all-important industries that u.s. is trying to be in lead of chinaing intensifying crackdown on cryptocurrency ordinarying biggest banks strictly implement rules that restrict from crypto related officials chinese officials ordering shutdown of crypto mining in several regions of the country effectivelying closing more than 90% bitcoin mining capacity give your thoughts on importance of this story, let me just call out g7, okay? we had a g7 meeting do you know in their statement g7 statement, they called china a challenge. really? it is a challenge? a challenge? okay, going into hong kong throwing people in jail, killing democracy, freedom, challenge bullying, a challenge?
killing soldiers in india challenge? stealing intellectual property one million million uighurs locked up in xinjiang. >> the g7 a challenge, or any other world agency they have got it locked up, so, that is where we are with the g7 and china, wto for that matter, china is own a roll as we continue to be upset you with russia, 1.7 dollar economy spend twice that in a year this administration has its way we will spend that every month, but, you know, that economy is not better than italy take our eye off the ball china a huge problem, they are coming to our hemisphere going to leapfrog from from africa to south america going to rattle our cage in our hemisphere we have
to stop that from happening there is just no political will for that. you said they are controlling social media, messages out of there they are controlling mainstream media. >> yes, they are i agree with you dan thank god for rupert murdoch fox news the "the wall street journal." that is all i have to say gate to see you. thank you so much, sir we will be right back and keep a spotlight on it. the rx crafted by lexus. lease the 2021 rx 350 for $449 a month for 36 months. experience amazing at your lexus dealer. they said it couldn't be done but you managed to pack a record 1.1 trillion transistors into this chip whoo! yeah! oh, hi i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you you don't have to be circuit design engineer
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how our switch squad makes it easy to switch and save hundreds. maria: we have the highest ethical standards of any administration in history. so we certainly expect that everyone will abide by those high ethic standards that applies how we operate also applies how hiring is done. maria: [laughter]. the highest ethical standards
in history? that was white house press secretary jen psaki responding to backlash over nepotism in biden administration "washington post" reported at least five relatives of his top aides secured coveted jobs including jen psaki's sister, blinken's wife getting a job as well as ron klain's rise also concerned about the new art career president's son hoping to get half a million dollars for paintings -- day ago--- [laughter] -- no words, really. dagen: here is best part about i am so glad i have a hard history debris can gus garbage -- insiders -- this disgraced son of the current president of the united states
one of the problems prices being thrown out by dealer of these paintings are just -- they are irrelevant useless just big fat numbers that don't mean anything. you can talk about those numbers when the paintings get sold at those prices. but they said, the dealer said the buyers wouldn't be disclosed, okay, well this is clearly. maria: [laughter]. dagen: would be influence peddling may be bribing pay-to-play whatever you want to call it the o former -- pet he obama's he ethic chief walter shab ran office of government he ethics said this is troubling a shameful gristy feeling the notion of president's son cap looidzing on relationship selling art at obviously, inflated prices trying to keep public in dark about it who is funneling money to son of the president i will just say this the
buyers won't be off limits to the fbi and justice department, who i think are still investigating. tax fraud charges, potential tax fraud, by hunter biden. maria: so he won't have to get a job on the board of ukrainian company and make 70,000 dollars a month, he can just get them to apply his art or he won't have to start another company in china, because the chinese communist party can funnel money and buy art for half a million dollars or three-quarters of a million dollars because they are not going to release who is buying paintings. dagen: he is out i think living in a rental house in malibu? which is kind of ritzy driving a porsche pan are a merah could be leased could be a loner i am just saying living as we say down south high on the hog. maria: all those family members got jobs in the
administration nancy your thoughts? >> oh, remarkable all i can say is that you say you have highest ethical standards, as said in history in with our business ratings account, my business investment return accountability tur their hubris knows no bounds i just can't get over it i point out, part of obama administration as dagen pointed out expert in tweets he is more than just trouble i think. maria: untexts laced with racism disgusting quick break then talking about staying healthy getting ahead of diseased milken institute chairman michael milken
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you were covering, and today starts future of health conference. unfortunately, it is virtual >> you are right, it has been a long time since you started took on this incredible project to really make a difference, in prostate cancer when i met you more than 30 years ago i want to talk about that but first let me get your thoughts where we are terms of covid, mike, we've heard a lot of progress obviously, you worked with vaccine makers early on in the pandemic, and they were able to do god's work coming up with a vaccine in 10 months' time, your thoughts on where we are today, as hhs is now investigating treatments for early treatment of covid. as opposed to where we were earlier in the pandemic, which we were told just ride it out. maria: well, we made the
decision under the leadership of hhs, the government, more than a year ago. that we would bull manufacturing capability manufacturer not only vaccines but antivirals, antibody, significant investment by american pharmaceutical biotech industry weigh would make these products before we knew whether they would work. if they didn't work, we would throw them away but when we were losing thousands and thousands of americans, on a daily basis, we estimated the economic cost to our country of one trillion dollars a month, investing, billions of dollars worth of good decision that decision has panned out it was only nine weeks, between the release of the dna
of this virus and when moderna put the first vaccine into human being, and that occurred in march of 2020. pfizer, jnj and then the others and today, there is more than 500 vaccines antivirals antibodies that exist. and in reality today we should be able to substantially reduce the death rate in this country and countries around the world is a pointed out regeneron antiviral, eli lilly antibodies antibodies if someone gets covid today if you can get these early it should not be life-threatening and quite possibly will never go to your lungs. maria: how worried are you about variants, mike? i mean look, we see this
morning, south america has become this new ep center a small population in the world a huge amount quarter of people are dying as a result of covid, throughout the countries of south america partly because of new variants what do you say about these variants, mike. >> at the moment there is a lot of hope that the rna vaccines particularly from pfizer and from moderna and other vaccines on jnj, et cetera, will also deal with these different changes that are occurring mutations virus some antivirals antibodies antibodies will also lessen to burden my feeling what we've seen science wins in reality american science has won this
enormous investment our country made over decades was paid off, i think one of the challenges we've is continuing increased manufacturing capability and distributing these throughout the world. that is -- by next year or even later this year, we should be able to produce enough vaccines antivirals antibodies antibodies for entire world on annual basis. >> when would be incredibly for the united states to be able to move needle that much for the rest of the world but mining you pharmaceutical companies the vested spent incredible amount of time coming up with vaccines yet there is a a movement right now to give it away give away intellectual property. what is the alternative rather
than giving away our ip in terms of ensuring the rest of the world has assess without giving away intellectual property that companies have spent decades, trillions of dollars invested to come up with lifesaving medicines. >> i think idea was presented but not by far best solution, also runs risen of discouraging future development, the solution when you give away ip that still doesn't mean you can manufacture it that will take another six months to build facility next we don't know these are not simple things to make we have seen in this country some of the situations where people have difficulty and in case of jnj they took over a factory to produce the quality, people want to know if they are taking this
vaccine that it is done correctly it has the same effect, and so to me the easiest solution is to increase manufacturing capacity have it run by people who have made pharmaceuticals all these years did i to you to distribute to the world the united states has announced it is going to distributed a half a billion of these vaccines,companies like pfizer -- these are very complicated things to make and jnj it was more than a year ago in april when it began doing those podcasts alex discussed new technologies in johnson & johnson to enable them to make a billion of these doses a year. >> wow incredible, mike let me move to cancer what you are doing, right now, the 25th
annual home run challenge you are traveling the country coast-to-coast you say keep that in the game there are more than 3.7 million men alive today because of what you've done and your teams have done raising awareness raising money to come up with a cure for prostate cancer the partnership recently celebrated 25th anniversary. where are we right now mike in terms of prostate cancer? >> today, a man has a 99% chance of living, five years and longer 90% of those men will never die from the prostate cancer, 14 to 16 drugs, yes, that a partnership you spoke about with major league baseball, where we've traveled ballparks now 500 of them over the last 25 years, reminding them get that simple blood test, and those 14 to 16 drugs that have been approved
are today many of them have little to no side effects more exciting thing not just prostate cancer but mutations in prostate cancer are found in 73 other forms of cancer. and the partnership with the veterans administration, their providing precision health able to reduce death rate of african american men was highest in the world, by 50% just the last four years, today as we kick off our future of health summit at milken institute we are finding new technologies we could have only dreamed about. yes, prostate cancer had a blood test provided early detection today the promise much more effective tests and idea that everything in your
blood just a simple blood test today can identify at very, very early stage more than 50 forms of cancer including pancreatic cancer, so cancers where there is a very, very high death rate today can now be caught at a very early stage before you can have mri before a cat scan or mammogram just cells floating in your body so technology coupled with our bioscience industry changed the world for everyone on this planet. and as we work on equal access to care one of the things pandemic did point out we not only had food deserts where you could not buy healthy food but financial deserts when trying to get funds, and safety nets for individual there was not a financial
institution in their community, and, lastly, there was not a provider of health care. but today technology in conference that used to be called, partner for kurdz now called the future of health, maria since you and i more than 30 years ago were dreaming about -- well you could not sequence genome 30 easier ago it was dream you could not the analyze what is in your blood 30 years ago. it was a dream, lastly as we've seen in this pandemic, didn't take 15 years it you took months, months because of today's technology to find vaccines that would work for ever single person first in america and a around the world, the technology exists, not only to protect them against covid-19 but other
life-threatening diseases. >> i remember when i came to your conference 30 years ago you brought all leading doctors together you told them i am not giving you any funding any more until you share your research with other doctors, and you forced them to do so, and in doing so, moved the needle on this i want to talk more about other cancers the more dangerous ones that we are still working on, moving the needle on i want to bet your thoughts on the economy, let's slip in a short break and come back we are talking with michael milken this morning from the milken institute. stay with us.
>> welcome back back with milken institute chairman michael milken celebrating 25 years at the prostate cancer foundation you you partnered with major league baseball on home run challenge to talk about keeping dad in the game, over 500 gales in every bau park talking about incredible success you have had moving the neil on prostate cancer. mike i want to get personal you were diagnosed with advanced prostate cancer in 1993 changes your life made dramatic change to diet has gone into remission can you tell us how important it is in terms of your life changes behavior your diet why that was so essential in terms of
moving the noold on your cancer diagnosis. >> it was back in 1939 that i was diagnosed with advanced prostate cancer and spread from parts of my body, and they had given me 18 months to live so i am happy to be with you today. that is the result of modern science, technology also the he changes that you talked about in diet, today with technology you can measure those in your micro, with a we found is that you are able to change how your genes are expressed. the new technology of crispr allows you to change your gene exists and will be deployed over coming decades so if you have a cystic fieb rossi or mutation you will be able to change that until that occurs
the ability to change how your gains are expressed occurs by changing your lifestyle what you eat, et cetera. and in fact today and cancer such as melanoma, by taking the microbile this is you the genes in your body the majority of them are bacteria that result from what you eat drink, et cetera, breathe, by making them from individual who responded well to treatment giving them to an individual who is about to undergo that same treating, we have found very positive results, and the other factor is not just prostate cancer, it is more than 70 other forms of cancer so many of the things we worked on in this area have proved effective in breast the cancer ovarian
cancer colon cancer, 91% of earn that dies has a mutation found in prostate cancer so drugs other treatments for prostate cancer we hope will eventually he eliminate colon cancers but new advances have gone farther the idea i can identify pancreatic cancer, pancreatic cancer at very early stages we have now seen you can cure pancreatic cancer. >> that is extraordinary that is, mike stay with us we will be right back talking with mike milken this morning.
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>> welcome back back with michael milken mike you have made stunning progress at the prostate cancer foundation you've got future of health summit underway right now looking at everything from cancer to alzheimer's disease thank you for all efforts quick let's end on economy, your thoughts on the spending that we're seeing the worries about inflation, and the 28 trillion dollars in debt mike markets don't seem to care, your reaction. >> three things maria there is a link here if we look at last 200 years more than 50% of economic growth have come from advances in have health and medical research, and extension of life may be greatest achievement of human kind doubling of life expectancy there are different forces at work, technology if
we have had a phone call not a video call but a phone call, decades ago might have cost 10 dollars a minute, across to england that cost in technology is driving inflation down, on the other side of the coin, yes, we have substantial inflation already in commodity prices as the economy returns i would say if we step back look at i -- .. live a life rich in meaning, and gratitude. to learn more, text thrive to 444555, or visit thrivent.com. some say this is my greatest challenge. governments in record debt; inflation rising, currencies falling. but i've seen centuries of this.
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