Transcripts For FBC Cavuto Coast To Coast 20240713

Stocks. Stuart has been pointing out, that is growing consensus view here, he is a lot more palatable, that is joe biden than Bernie Sanders. And that seems to be where the markets are focusing on. That and the fact a lot of Health Care Stocks that were getting bludgeoned under the prospect of potential nominee Bernie Sanders, a long way from down, are now jumping quite nicely. Look at the yield of the 10year note. Sometimes i think that is a typo. That is the yield right now,. 95 . Did i ever tell you what my wife and i got fine. Get read on this all moving very fast. Deirdre bolton, i guess it comes down to the delegates. Where do we stand . Michael bloomberg endorsed former vp joe biden suspending his campaign a few hours ago. Defeating donald trump, uniting behind the candidate with the best spot to do it. The person to do it, my friend, joe biden. Disappointing night for bloomberg. He spent the most money out of any candidate, President Trump included. Our internal calculations show he spent 12. 68 million per delegate once. So if you look at graphic, bloomberg won American Samoa, capturing 44 democratic delegates. Clearly not enough to challenge totals as we see here, senator sanders and of course biden, 453382 respectively. President trump tweeted out. He will pour money into sleepy joes campaign, hoping to save face. It wont work. As we know, in 1991 delegates needed to win the nomination. Up next, michigan, florida, huge states, important contests. As we remember sanders scooped Hillary Clinton back in 2016. President trump won with ever so slight a margin. A lot of people will Pay Attention to michigan, neil. Back to you. Neil thank you very much. Bernie sanders falling behind joe biden after super tuesday in the delegate count. Were still a long way from this thing wrapping up. Remember you need 1991 to close out the deal. The candidates r a long way from that. Edward lawrence in vermont with what is next for the candidates from here. Edward . Reporter very interesting. First one point. Former Vice President joe biden had a phone call couple hours ago with Mike Bloomberg. They said they had a very good phone call. Theyre is renewed vigor for biden. Late undecided voters and minority voters sided with biden. He has a new push, and momentum. They dont call it super tuesday for nothing. [cheering] just a few days ago and the press and pundits declared the campaign dead we get to super tuesday it would be over. It may be over for the other guy [cheering] reporter a little disappointment here that senator Bernie Sanders did not edge out texas but the campaign feeling some joy. They got a big prize of california. Sanders is saying what he is creating a Real Movement for real change in the u. S. What we are not only taking on the corporate establishment, were taking on the political establishment. [cheering] but were going to win because the people understand it is our campaign, our movement, which is best positioned to defeat trump. [cheering] reporter and sanders mobilize ad massive ground game, especially in california but he says they knocked on two million doors from maine to california. Now the focus will be on the next set of states next tuesday. The campaign also eyeing senator Elizabeth Warren on what she is going to do Going Forward. They are trying to reach out to some supporters to bring them into the sanders fold. Going for could be critical for senator sanders. Back to you, neil. Neil thank you very, very much, Edward Lawrence following that closely. President commenting on the case, what was happening, particularly Elizabeth Warrens role, how she might have hurt Bernie Sanders take a look. If you look if Elizabeth Warren would have done what she probably should have done from their point of view, he would have won, right . He would have won a lot of states, including massachusetts, probably texas. Definitely minnesota. So bernie would have won states that he lost and lost fairly easily. Neil no way of knowing for sure whether that would be the case. Get the read on all of this from New York Post columnist michael goodwin. Michael what do you think of what the president is saying . Because there is argument among those who want to see joe biden nomination, Elizabeth Warren stay in this race . If you view it from the perspective of the consolidation around biden by buttigieg and klobuchar that that definitely helped biden last night. Neil sure. Warren says in, that hurts sanders by splitting the progressive vote supposedly. We can never know for sure, but there is certainly some truth to the fact more of her voters would have gone to sanders if she were not in there. Neil do you have any doubt that the Party Apparatus wouldnt do anything it could to prevent Bernie Sanders closing the deal. The developments the last 24 hours put that to rest. Joe biden is still the same soso campaigner, the same flubriddled candidate he was before. He has got certainly a smart, spark of energy and a bit of a pep in his step but he is still the same iffy debater, but he is the one theyre betting on . Well, as long as he has a teleprompter in front of him and he reads it, sticks to it, somebody written good short declarative sentences that dont lead him into the weeds where he gets tangled up, yeah, he is flawed and fragile. By the same token i think that he is also got a problemtic platform. Look what they have done to follow Bernie Sanders, that the party was moving left, biden is along with all these things. He is maybe 10, 20 less radical than sanders but historically he is still quite radical. As i say in my column tax probably you would have to go back to George Mcgovern in 1972 to find a more radical democrat than joe biden as the standardbearer. Neil he is considered moderate in a cast that includes those who want to increase taxes by anywhere from 15 to 20 trillion over 10 years. He is a little bit north of 6 trillion. That is considered moderate. By comparison i guess so. But im wondering what you make of wall street reaction here . He is more palatable than Bernie Sanders . Trying to raise with stuart varney, michael, you could flip it around that wall street which likes the gains it had under this president , Economic Performance under this president , that joe bide penn is the biggest threat to this president. So why are they up . I mean, i think bernie was the worstcase scenario in the sense of, insurance companies, the banks, all of that sort of stuff. Biden i think is more just a general nuisance in terms of taxes and regulations. It is more like, Second Coming of obama in the ways that the wall street, you know, grew accommodative to the obama years. They didnt like it but it wasnt death to them the way sanders would have been. Neil but theyre all, to a man or woman looking to raise taxes. Yes. Neil im just wondering now whether the markets digest impact of the coronavirus and how the president handled this as outside event which he is not responsible. Right. Neil how he handles it will be very key in this election, wont isnt. We dont know how the economy is going to react to this over time. We dont know how far coronavirus will spread. We dont know what the impact will be. Already, you see the president , Vice President being very concerned, meeting with Airline Executives for example. Neil right. Whole issue of the march madness basketball tournament coming up. Will we do the games without crowds . Are the players just going to bump elbows, stuff like that . Neil wonder whether this is the kind of panic we dont want to see . Puts people on tenterhooks. We each make a decision. What we regard as the best interests of ourselves and family. You multiply that. If everybody is afraid, then of course there will be no movement. The economy will suffer and stocks will suffer regardless who is the democratic nominee. Neil wellput, michael, great seeing you again. Very good read on all of this. Michael goodwin of the New York Post. Meantime markets may be rebounding. Look at 10year treasury revisiting alltime lows. The annual yield on 10year treasury note,. 96 . Think of that. Mortgage rates likely to go lower following all of that. Home depot chairman and ceo, anthony chen. Is this the boost housing really need, doesnt need as much, some housing numbers look good of late but, anthony, what do you think . Housing was already strong, neil. So this opportunity today allowed lots of homeowners to refinance to lower their Household Debt and the carry that it has. This market could be the biggest of our history as far as refinancing. So it is an exciting time. Neil you always look at low rates, anthony, you say, well, that could, ship coming in for a lot of borrowers who could use the boost. It is also reflection of a market betting on slower times and people get rattled postponing home purchases, maybe not refinancing the home theyre already in. What do you think . There are two sides to look at this. Where are Interest Rates going to go . We have an election year. It is a transitional year. Were looking at the 10year yield being at the alltime low. It is 95 basis points this morning. Neil right. So we have 11 trillion of mortgages outstanding. Depending what reports you read, neil, 60 to 80 of that 11 trillion is in the money. Meaning that 60 to 80 of it if they refinance they will be able to lower the Household Debt. Neil what is the rule of thumb on that. Im sorry, anthony what is the rule of thumb on that . People who entertain refinancing, you do so, half a point lower or more . Is there a rule of thumb . I guess whatever is palatable to the borrower . You have to look at remaining terms. So it depends how deep you are in your remaining term but it is a quick calculation these days to see if refinancing makes sense, if youre able to lower your payment or shorten your term, it is pretty easy these days. Technology is really advanced. Refinancing is a lot easier today than what folks are accustomed to just five years ago. Neil where do you see the most aggressive lenders putting rates right now . If youre looking at a. 95 on 10year note . I know there are different measures you can get mortgages and all, what are we looking at here . Well, keep in mind, neil this, is going to be a supply and demand challenge. Neil right. You know, as customers, start to be aware of lower Interest Rates, the industry does not have the capacity to handle all of the demand that is upcoming. So, i think we may be headed towards a reservation system. The mortgage industry is used to funding 1 1 2 to 2 trillion a year. We may be headed toward as year, if Interest Rates stay down, neil, we may be headed towards a 4 to 5 trilliondollar demand market. At the end of the day, there is not enough money or bodies to go around to handle applications that come in. There is something we need to be watching here because the demand will surpass the supply, or capacity in our industry. Neil in that vacuum, people trying to pounce on these very, very low rates might miss a window, right or at least pushed back a little bit . Thats right. Thats right. Your typical 30 to 45day closing cycle could be stretched out to 90 days or more. Neil wow. A customer needs to be wellprepared and be patient because of the at the end of the day, refinancing or Mortgage Loan is still pretty complex although Technology Helped it a lot, there is still quite a bit of work to be done. Everyone need to remain patient. But at the same time, be prepared to have all of the information and be responsive. Neil can Mortgage Rates stay low through that up to 90 or moreday wait . Yes, i think so. Neil okay. Of course you know, no one can predict Interest Rates and certainly how far its fallen just in the last couple weeks has surprised a lot of folks but i think as it stays down youre going to have this incredible demand coming from customers that are searching for lower Interest Rates. So, regardless whether youre purchasing a home or refinancing a home a home loan is the same and that is there has got to be fundings, this additional trillion or two trillion dollars of demand, like my parents said, money doesnt go on trees. Money has to come from somewhere. Neil i didnt think how the basic supply and demand could disrupt it. Thank you very much. I appreciate it. Food seeing you. Neil you heard what the president and white house, the president will give a briefing very shortly. He is talking with a lot of diagnostic lab ceos. A lot of talk of medications and the rest that can deal with some of the symptoms around this and a couple key players working on a vaccine that might cure this. Were a long way from that. Couple things that can happen in the meantime that bear noting. Well talk about that after this. [ applause ] thank you. Its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. I love you only pay for what you need. Liberty. Liberty. Liberty. Liberty. groans hmph. food grunting menacingly when the food you love doesnt love you back, stay smooth and fight heartburn fast with tums smoothies. Tum tumtum tum tums like a hybrid with best in class epa estimated range of more than five hundred eighty two miles. And ford copilot 360 technology to help you outsmart some of the things youll encounter on the road. With more available second row leg room than a chevy suburban. This is the completely reimagined, street smart 2020 ford escape. This is the completely rwthats why xfinity hasu made taking your internetself. And tv with you a breeze. Really . Yup. You can transfer your Service Online in about a minute. You can do that . Yeah. And with twohour Service Appointment windows, its all on your schedule. Awesome. So while moving may still come with its share of headaches. No kidding. Were doing all we can to make moving simple, easy, awesome. Go to xfinity. Com moving to get started. Neil were learning the new james bond film, no time to die was supposed to hit theaters next month, will be post importanted until november of this year because of coronavirus. The latest example falls in line with a lot of european soccer teams canceling games or at least stadiums and attendance at those games. Weve seen that applied to theaters, the louvre in paris, they shut that down a couple days to keep crowds away. The latest example of that. Vice president meeting with airline ceos on coronavirus. Blake burman at the white house with latest on that front. Reporter a busy day for the Vice President because he is meeting with ceos of diagnostic labs this morning. He met with people of facilities that provide care for the sick and sandwiched, meeting with the executives from Airline Executives t was really a whos who of Leaders Within the airline industry. For example, represented there the heads of united, american, shout west and jetblue just to name a few. The message from inside the roosevelt room as the president was going around the table listening to, asking questions of these Airline Executives that they are trying to do their best to make sure their planes are clean. That includes the crew and includes the passengers. They are taking measures to step up their cleaning. The obviously question, neil, to pose to anyone inside of that room was, is it safe to fly . That was the question that was put before the president and this was his response right here. Watch. If these people are flying it is safe to fly. Large portions of the world is safe to fly. We dont want to say anything other than that that. We have closed down certain sections of the world, frankly. They sort of automatically closed them also. They understand that, understand it perhaps better than anybody. Yes, its safe. Reporter yes, its safe to fly, you hear from the president there. I followed up, neil, by asking those in the room, if youre going on a flight, is there anything you should be doing differently . We have heard from the Public Health experts time and time again over the last couple weeks, now it seems like it is become Standard Practice for most, wash your hands, do it for 15 to 20 seconds. The answer i got from inside the room was eventually passed off to ambassador debbie birx. She has been brought on to the team to combat the coronavirus. She is the foremost expert on hiv aids, youre on a plane and make sure you wash your hands and make sure your hands are clean. Neil . Neil that solves all the problems. Blake burman, thank you very much. I want to go to Austan Goolsbee, former economic chair, professor at university of chicago. Austan, we get more and more examples of every day worried officials, ceos scaling back corporate travel, even coming to travel within this country, domestic travel, amazon, james bond movie released next fall, instead of this month. March madness, have games but without people in the stands, doesnt this feed on an economic paralysis that gets worse . Yeah, you know, if the fear spreads, the social distancing which is kind of the euphemism system that they have for hadding to other people that has an Economic Impact and it is a negative one. Look at china. And in wuhan and places where the virus had such an outbreak, you see big drops in gdp growth. You see a 90 drop in people going and buying cars. Everyday things, going to the movies, going to the dentist, you see negatives. Why on the economic side, people are just as nervous as on the health side, if not more so. Neil whatever is happening here and the precautionary steps that many are taking, i was thinking, when i chatted with you today, if you focus on china and china alone, airport activity that is crashed about 80 since the beginning of the year, car sales down a little bit north of 70 consumer activity pretty much ground to a halt for a large swath of the population, that cant help but not reach us here. Yeah, look, i think thats true and you heard a lot of discussion about the supply chain. So theyre making things in china go into things that we make here. Well have problems associated with that. Then, but thats a second category to the issues of if people over here start feeling like they dont want to travel, they dont want to go out of their house, thats a whole different level of economic pain. The only good news in things like this are, if we start getting positive news on the health front, like they have treatment for the symptoms or they develop a, vaccine or summer makes spread of the virus less frequent, you can see rapid rebounds of the economy as people, look, they might not have bought the car this month but next month they go out and buy the car. But that is still going to be wishingful thinking, hopeful thinking. But in the moment, when you face these big drops of demand, theyre far bigger than any regular business cycle. That is what weve seen in china. That is far bigger than a recession, to see, 70 drops in auto sales, is really unprecedented. Lets hope it is just a shortrun thing. Neil all right. Austan thank you very, very much, Austan Goolsbee on the fastmoving developments here. Well keep you updated on other developments. Abercrombie fitch is temporarily closing offices in shanghai, some other Mainland China stores, even in milan, italy. Weve seen a host of other companies canceling planned big events. Including google, the io conference a big deal, slated for mountainside, california, will be put off indefinitely. This follow as pattern weve seen out of Corporate America where virtually all of the fortune 500 companies have in one way, shape or form, either curtailed travel abroad, limited travel here or canceled big symposiums that were slated to happen within the next few weeks or months. Stay with us. Free. And when you open a new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk while our competition continues to talk. To be our guest. With an invitation. The invitation to lexus sales event now through march 31st. Lease the 2020 rx350 for 409 a month for 36 months and well make your first months payment. Experience amazing at your lexus dealer. Neil Bernie Sanders super tuesday defeat, in a lot of key areas, remember, ended up being kind of a draw in total delegates when said and done. Having said that, the pressure had been on Health Care Related stocks, well that kind of unwound. It has been since unwinding big time. Kristina partsinevelos has more from the new york stock exchange. Kristina. Kristina it has been unwinding. Weve seen a reversal compared to yesterday across all markets. There are a few catalysts. Well get to the super tuesday results in a second in you nighted health sector. Traders are talking about economic data, u. S. Service sector, stronger than expected for month of february. Keep in mind that does not include new coronavirus cases. You had moodys put out private payrolls that jumped by 183,000 last month. Lets talk about super tuesday and sanders performance and how sanders lower performance, weaker performance, really helped Health Care Stocks rally. You can show the spdretf. Xlv. If you look at individual companies, Health Insurance companies in the United States, well bring up that board again, some big movers like you mentioned, neil, off those highs. Still anthem, for example, almost 14 higher. United health almost 8 higher. We know the emergency rate cut yesterday came as a surprise. A lot of traders were talking about the timing of it, why is happened, why 50 basis points versus 25 basis points. Well another central bank, bank ever canada, also cut their rates today. Figure we just mention that, were starting to see this trend. The chair over there said likely as the virus spreads, business and Consumer Confidence will deteriorate further depressing activity. Neil, i want to focus and end on our small to Medium Sized Companies here in the United States. Often represented by russell 2000. Barclays bank note came out if anything this sector continue to be hit because they had all the pros, trade war risk was done, the fact were seeing a accommodative fed, but the note says it has been derailed by the coronavirus concerns for the month of february, for the month of february, the russell 2000 recorded its worst start to the year since 2009. So a rough start for all of those small to mediumsized businesses. Still, the dow today, 607 points, a little bit of a rally. S p at 62 points. 2 higher. Back to you. Neil thank you, kristina, very, very much. All of this because of something that transpired over the last 72 hours, where joe biden went from dead man walking to live, likely nominee running. What happened . Good student of political history was Ronald Reagans campaign svengali ed rollins back with us. It is amazing everything changed but did it change . What do you think . I think it changed. Biden certainly has the momentum. The critical thing was South Carolina. If South Carolina been on super tuesday, nine states had bigger delegates but the fact it was on that saturday, africanamerican votes turned out in good numbers as they did in the other Southern States. Neil fueled a strong tuesday performance. Made the performance. Everybody else started saying joes our guy. Lets jump on. Were not satisfied totally with his campaign but beat Bernie Sanders. Lets go forward. That is where it is today. Neil markets are celebrating this i know you dont soil yourself with the selfish, greedy interest of the money crowd but i wonder if youre reading it correctly, he is much more palatable, joe biden than Bernie Sanders . By the same token they like the economy and markets under this president and seeing pollwise biden is more of a threat to donald trump than certainly Bernie Sanders, wouldnt that rattle them . It could. At the end of the day, Bernie Sanders has young people and enthusiasm. Joe beaden has sort of people, kind of an intellectual hugging of him as really in love with joe. That he is the greatest candidate in the world. Take nothing away from his victories. It was really kind of, as i said, i dont want to say accidental. There was no campaign. Traditional things you do in a campaign he didnt have. His staff is lacking. Had no media, had nothing. I think to a certain extent one of those things that people made a decision that they didnt want sanders, the establishment in washington didnt want sanders, older africanamericans, not the younger didnt want sanders. So that is where it went. Neil lets sort of play out now. As both are fairly even. I think the latest count we have biden has 453 delegates, 382 for sanders. You need 1991 to win, do you think either of those guys arrives in wisconsin with that 1991 . If warren stays in the race, that takes away from Bernie Sanders. Neil right. If she dropped out tomorrow, would have dropped out on monday, this probably two or three states that Bernie Sanders would have won and didnt win. You have a different dialogue. Im not sure she is going to drop out. She kind of feels shes entitled. Neil yeah. I think there is a little resentment towards sanders for campaigning in her state of massachusetts where she came in third. I think neil biden would prefer he stays, right . If she stays, more bidens race. Neil could it be like a Hillary Clinton, barack obama thing, they fight it out, duke it out, almost to a draw . She had percentage over him. Right. Neil but he had not closed the deal with an absolute majority until she conceded, right . Absolutely right. Neil what do you see happening now . You have superdelegates dont get to go until the second the critical thing can joe get enough on first ballot not to go to superdelegates. Superdelegates wont necessarily be for sanders but certainly can change the game. As you look at the calendar you did earlier in the show here, i dont see anything automatically Bernie Sanders type of wins. So neil the only thing that Bernie Sanders wants to avoid is a situation where he is behind in delegates, right . His case was always, if i have a plurality and a good lead, that should be enough. Now the biden folks will be in that situation. If they have a good lead, plurality, that might be enough . Well, joe biden will now have money. Obviously what bloomberg will do is dropping out today, he will spend some of his money, not anywhere amount of money if still in the race itself against trump. He will be beating up trump. There cant be coordination. He cant turn his campaign or turn his money over to, it is illegal. He can create a superpac and go out to beat up trump. My sense today, i would say biden, if i was running bidens campaign, go meet a lot of officials. Shake hands. Dont give many speeches. Make sure you identify anybody in the audience. Dont get carried away here, leisurely pace. More aggressive he does, more aggressive he becomes in his speaking habit. He has to worry about gaffs. Neil he does. It seems in a weird way to endear him to people. You know, who am i to judge. I built a career on them. Im just wondering what you make of that, the screwing up his sister and his wife, people say that is just joe. What do you think . I think that premise. After having President Trump in Office People have different standards. The key thing, joe has tendency to fiction alize things, whether sees it in his dreams or old memory. What he cant have is any big mistakes. I cant be somewhere where i wasnt. I cant be doing something where i didnt. So far the campaign has been i, i, sometimes obama gets thrown in there. You think obama a secondary figure for last eight years in the presidency. Obama was not. Obama has not endorsed him. I assume along the line somewhere he will. Neil few president s do at this point in the process, right . President reagan did george bush. That gave george bush the nomination. He put his arm around him. People said, to certain extent, people said if he is good enough for Ronald Reagan he is good snuff for me. To a certain extent obama does that with biden, he is good enough for president obama he is good enough for us. Neil very interesting. Ed, you ought to keep the politics thing. You know what youre talking about. I thought i knew what i was doing until yesterday. Neil ed rollins, following all of that. The latest what is going on in tennessee as they dig out from the horrific tornado. Grady trimble is there. Reporter neil, were hearing incredible stories from the people who survived tornadoes, including people that lived in this house. Well let them share their story in their own words coming up. Neil tennessee still under state ever emergency. Dozens are still missing after devastating tornado killed at least 24 people. Grady trimble in nashville with the very latest. Reporter neil, when you look at this neighborhood it is truly unbelievable people in this neighborhood were not seriously hurt or killed as the tornado moved through, when you look at the damage. I want to show you this house behind us here. We talked to the homeowner here. He and his wife were sleeping when they heard the sirens alerting that the storm was coming. They only had moments to grab their dogs, get down to the basement, hide for cover. One ever the dogs went back upstairs, that is when the homeowner ran back up to get him and the tornado hit. And as i was carrying him down, i got down to the very last step in the basement, the whole house collapsed on top of me and, sorry. I just ran and jumped on top of my wife and the two dogs. Everything just exploded, like the hvac unit went through the wall. There were bricks, being, we had a doggie door, they were flying through the doggie door. I held on, roughly five to 12 seconds. Looked up and it was gone. And looked outside, we didnt have anything anymore. Reporter this is whats left of their house from the backyard. This is their pool. You can see the storm, the tornado lifted hunters truck, threw it into the pool. Unbelievable they were okay. The same cant be said in Putnam County. Where the vast that majority ever deaths were reported, neil. As you said, 38 people still missing. Neil grady, thank you very, very much. Grady trimble in middle of all of that. The president is planning to be in tennesseeown friday. He will meet with randy porter of Putnam County. The mayor joins us on the phone. Thank you for taking the time. How are things looking there . Were still in searchandrescue mode, neil. We have 20 people still unaccounted for. We dont know if theyre victims of the tornado or if theyre with relatives or friend and just havent located them yet. Were still working through the searchandrescue. We have hundreds of our personnel, law enforcement, rescue, fire, so forth along with about 2500 volunteers that showed up this morning to keep searching the area. Neil just looks surreal, mayor. Looking at these aerial and outside shots of the county and into nashville. Im wondering was there much warning for folks in its path . There was a problem, neil. The storm hit us at around 2 00 a. M. The warnings werent out for nashville and areas down there before. They were the tornado lifted up and went away. And so it was very sudden. Some of these folks only had matter of two or three minutes of warning before it happened, which was not enough time for them to get out of harms way. Neil how can folks, hear about this, mayor, they want to help you, help your constituents, what can we do . We have been very blessed with all kinds of donations, with food, and water and clothe and supplies. If they would like to help, we have an email address set up. That is help now put putnam ten. Gov. We have a Putnam County Tornado Relief fund at bank ever Putnam County which is one of our local banks here. They can make donations to it. 100 of those funds will go to the devastated families that lost their homes or belongings, or even loved ones. We had 18 confirmed dead so far here. Were not for sure if that count will go up as we keep moving forward with searchandrescue. Neil man, mayor, you have your work cut out for you. Youre doing yeomans work as all the folks. Thank you, mayor. Good luck with the president on friday. Mayor around did i porter of Putnam County, tennessee. In the meantime Mike Bloomberg suspended his campaign. If you had been listening to Charlie Gasparino last night of our coverage, you would have gotten strong signals that was in the offing. What charlie is hearing now after this. Oh no, here comes gthe neighbor probably to brag about how amazing his Xfinity Customer Service is. Im mike, im so busy. Good thing xfinity has twohour appointment windows. They have night and weekend appointments too. Hes here. Bill . Karolyn . Nope no, just a coupl to manage your appointments making todays Xfinity Customer Service simple, easy, awesome. Ill pass. The end might not be as happy as ayou think. End. After all, 4 out of 5 people who have a stroke, their first symptom is a stroke but the good news is you can rewrite your ending and get screened for stroke and cardiovascular disease. 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Well, he didnt do well in the debates. I will say this, in the republican primary you might be able to buy the race. People dont care about spending, rich guy spending a lost money buying it even though that is what donald trump did. He didnt spend a lot of money. In the Democratic Party it is much more difficult. There is stigma to it of buying stuff. Class warfare does play a role and you know, he had a horrible debate performance. He really couldnt neil he never overcame that. He couldnt articulate the reason he should be president or better than anybody else. You put those two things together. On top of that, joe biden appeals to the most important voting block in the Democratic Party. That is africanamericans. I think i said it on your show. The whitest state in the nation, iowa, or one of the whitest, obviously, is not going to determine the Democratic Party nominee. Just cant do that, not when africanamericans make a huge part of the voting bloc. Theyre much more, more conservative than the white woke liberals that support Bernie Sanders and some other candidates. Neil you think it might have changed the whole way future candidate handle this. They like joe biden. James clyburn, did an amazing job. Neil absolutely. Articulating the reason why the black community should come out to vote for joe biden. That is what did it for biden. Neil carville said he saved the Democratic Party. He might have. Heres the thing, you know, bloomberg if he stayed in the race, i will say this again, i saw it last night, i know what the biden people were saying, were telling him, listen, obama, former president obama is probably involved somehow, if you stay in this race now, you will be now a spoiler. You basically, all your delegates should have went to biden in california that would have been a lot closer. He won texas. If you stay in, youre going to be a pariah in the Democratic Party. That was the message that was delivered to him. Neil even if it came to a second ballot he would not be the beneficiary of that . I dont think so. They would have hated him because he was tearing down the guy that they believe should win. Neil what does he do now with all the dough and Everything Else . A great question. Sources are telling us biden is having Conference Call with major donors. Biden campaign starve. I dont know if biden is on that. Theyre having later this afternoon. Get some sense how much bloomberg may pledge to him, may give him. Remember he was prepared to spend as much as two billion. He spent so far, over 500 million on himself. Does he give that money to biden . Neil he had to do it through a pac, right . Yeah. I, that is a good question. That is a karl rove question. I have dont know. Theoretically, he could spend it on himself. Can he he cant really give it to the guy. Neil if he won anything were to be biden administration, what would he want . I wonder if he would want treasury secretary. But you know accomplished so much in his Business Career neil i dont think he needs that. He doesnt need that. It is a perfect transition. He would make a perfect treasury secretary. He knows business and knows money. Neil what about secretary of state . Maybe. Horse before the cart, right . Or cart before the horse. Here is one thing i will say, biden has to win. You know neil still the same candidate. He has to beat bernie which i think he will but he has got to beat you know who, the redheaded monster. Neil who is the redheaded monster. Oh i know what you just did there. By the way, no slouch, people think, it is funny, all elitists are very arrogant. They think that donald is stupid, arrogant. Guess what, he is innately brilliant politician. Neil used to say that about Ronald Reagan. For what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Its surprising how the bigger a city gets. The smaller it starts to feel. Which makes it even more surprising, how big it feels in here. With sliding rear seats. And more available second row legroom than say. A chevy suburban. This is the completely reimagined 2020 ford escape. . . woman no matter what business you are in, Digital Transformation never stops. Verizon keeps business ready for whats next. man we weave security into their business. second man virtualize their operations. third man and could even build ai into their customer experiences. We also keep them ready for the next big opportunity. Like 5g. woman where machines could talk to each other and expertise could go anywhere. woman when it comes to Digital Transformation, verizon keeps business ready. All right. We are getting updated numbers from california. That was one of the last states to close last night even though we were able to call it relatively quickly for Bernie Sanders. He has managed to narrow the gap with the former Vice President joe biden. The latest count has, the total delegates, as of this moment has joe biden at 516 delegates. 455 for Bernie Sanders. Elizabeth warren at 63. Michael bloomberg stepping out of the race today at 50. This is updated, it narrows between two. You still need 1991 to win so essentially, even biden at this point is a quarter of the way there. A long way to go. They been crunching all the numbers and where this stands right now. As we know, 1991 delegates needed. You just showed the snapshot of where, especially the two front runners, we are focused on them. Biden 516 and senator sanders 455 on the screen right now. Last night as we know Michael Bloomberg is stepping out. President trump wang in on the democratic field this morning. Here is our president. I think joe will have the advantage now. Hes starting to win florida and others, i think hes gotten advantage of those states. Had Elizabeth Warren endorsed varney then your talk about whole different thing. He wouldve gotten 80, 90, most of those votes. You heard the president mention florida. Florida and michigan as arguably the next most important races and as we know, in michigan, senator sanders scooping Hillary Clinton last time around in the primary and in the general President Trump beating Hillary Clinton just by the narrowest margins and then florida, it always seems to come down to florida. And a reminder biden now has endorsements from three former candidates. Mayor pete, bloomberg and klobuchar. We will see what if that means he can keep in the lead and ahead of sandal. Back to. It really is amazing. Thank you very much. Meanwhile the stock market soaring on all this, especially healthcare providers. We should still, this is based on the idea of who leaves in the democratic contest. Keep in mind the same people celebrating in the market whom i preferred the joe biden scenari scenario, if he were to defeat the president the president said you can expect the market or the economy to tank. Anyway, jackie is breaking it all down. Good afternoon neil. The markets are taking it all in stride. Its up 720 points near session high. Look, super tuesday having a big impact on the market for short because you basically have investors taking away from this that joe biden is back in the game and sanders, well that nomination is not a slamdunk. The other issue, Mike Bloomberg dropping out such as his support the take away is clearing the field is a good thing to a certain extent. The coronavirus is obviously a huge issue for the market. But baked into those losses, somewhere where worries that sanders would be the Democratic Front runner and that was after his win in nevada. Today the market is popping back, digesting the virus news and this fresh election news as well. Healthcare stocks as you mentioned, those are big movers because the market is less concerned about medicare for all. That was something sanders wants to do. Big tech is tied to because sanders has been vocal about regulating and breaking up tech companies. Whats been oversold now beating the dow higher. Utilities, consumer staples, all hopping today. Not so great the interestrate sensitive stock because of the rate cut but thats something we will keep an eye on. What is still a little troubling to me is looking at the ten year yield still hovering over those lows. Thank you very much. The dow is up 750 points. The only late catalyst i could see his lawmakers striking a deal on 8 billion in coordinated emergency coronavirus funding that will include 3 million into research in developing a vaccine that might be made available sooner rather than later. Anywhere from nine months 12 months to get such a vaccine on the market. Again, this is the only catalyst i could see that would add to that that politicians have put aside their differences for the time being. Lets get the. [inaudible] democratic strategists christian hahn. The market reaction, if you think about it donald trump has been saying anyone of these guys wins in there a lot more guys and gals, its can be devastating yet the market to jumping on the biden thing needs more normalcy. What you make of that. For short. Nobody whos running a business in this country, whether theyre on the right or the left wants to give up 90 of their profits or pay exorbitant taxes or have socialism or handouts or anything that Bernie Sanders supports or wants for this country so we were having this big selloff over the course of the last week and half, two weeks, coronavirus was getting the main blame but you saw Bernie Sanders picking up in a lot of polls and getting a lot of momentum, and anybody who is for capitalism, profits, making money does not want to see president Bernie Sanders. But for these markets, hes been the wind at their back, right. Markets have soared, the economy is on fire and at the very least as biden already promised to raise those. [inaudible] im a little bit perplexed by the market so who knows. This could just be up bounce back of being oversold for the moment, coronavirus is the market mover at this point. It will slow down the u. S. Economy to the degree that it does will be reflected in the market over time. Biden is doing better than expected, hes unknown quantity. Markets dont like uncertainty. There seems to be now the Democratic Candidates are getting behind one and it looks like this is far from over, a lot can happen before the nomination is finally cinched, but it looks like the democratic dynamo that you hear in the background there coalescing around a candidate and the machinery of the Bloomberg Organization come the Field Operation shifting over to supporting biden and the turnout being rather substantial. Virginia notably, these are things that are showing a big democratic interest behind a single candidate which would quell the markets a little bit and should be of concern of the president whos looking at some record democratic turnout at this point. Looking at all that, obviously theres a concerted effort, that certainly helped joe biden in South Carolina, but hes still the same joe biden wasnt that great a candidate, and still doing all that, but hes still problematic candidate. How do you see it. I think ive always been a proponent of Vice President biden. I think what we saw with the markets, we had this candidate in varney, we have this candidate with such crazy ideas like dave said, he goes right off the radar screen, not even to the left. Youve got somebody in biden i wouldnt give the democratic machine too much credit because theyre not backward mated. I think the other candidates see the writing on the wall that we need to coalesce around the front runner which is Vice President biden and support him. I think he has done much better in the last couple weeks, he has to stay strong and keep building on their Campaign Apparatus and if hes going to clinch the nomination in november. Is it your sense that he clinches that nomination, im talking about joe biden. I think so. I just dont think, always around this time a year if you look every four years theres always talk whether its the republican primary last time around and then before about being a contested convention, i dont think thats where we will end up. I do believe if you look forward to the states that joe biden will eventually be the nominee without a contested convention. It would be close in the end. Absolutely. Of us and the Vice President needs. I think a lot of bloombergs problem was that if you looked at his ads, he talked a lot about President Trump and what was wrong with President Trump, which is fine, but he didnt talk about what he was four. To win a nomination you have to appeal to people. He got a lot of money and he can help in a lot of ways so how do you think the biting camp put that money. You wonder, you have biden, bloombergs people moving over there, the other candidates getting behind him, does that galvanize varney space. His Bernie Sanders now us against the world, us against the democratic. Guest a lo you wonder whats going to come about. I dont think Bernie Sanders is going to concede forgive in or jump behind joe biden anytime soon. I think this is a fight down to the wire and in a headtohead battle, forget President Trump waiting in the wings. Bernie sanders versus joe biden, i think Bernie Sanders, any debate or headtohead confrontation i put my money on varney. Steve. That could be because few people expected it to spiral to the degree that it has read this could take a while to read even if the fox nation came out tomorrow. As the president that has to be your bigger worry. You would think and yet the president , give him credit, he cut off travel from china to the United States but that just bought him some time. In the weeks since, weve seen a lot of fumbling. Test kits not working out of the cdc, a requirement that you sent everybody into the cdc which meant that a lot of doctors that receive cases couldnt get people tested fast enough and turn them back out into the general population where they infected other people and we still havent settled that. Yes more test case are out there but people are still having a hard time getting tested. The unpreparedness is going to weigh on the electri electorate as the virus spreads and it is likely to spread, why would it be any different here than south korea or china. That might have influenced some voters. Who knows. Voters may have said something, im in a regress to the meeting, go with someone whos going to prove them as an administrator and 70 who has gotten things done in the past as the moderate endorsed by a lot of other moderates might have caused voters to say this is not a time to throw the dice and go with someone. Neil you could also say, when we keep getting insurances from those in power, i understand that when people keep telling you to calm down, i was perfectly calm and they keep telling me to it calm down. Im wondering why you keep telling me to it do that. Thats the kind of thing thats been happening in 60 plus countries. It might, but when you look in california they announced the state of emergency, we have investors out there who are watching and businesses going on as usual. Their business. Host companies are the ones tha. The Big Tech Companies are stopping some of their events but back to the president and what hes done for this, i dont know if there couldve been a different response but i do know i dont want to hear about the coronavirus from people on television with altar respect. I want to hear of the head of the cdc or the top people running for the president. I think thats what we are seeing. The fact that we did have test kits here, i dont know if we should have had them beforehand, being prepared for coronavirus to possibly strike, i feel like what weve done so far, yes its going to spread. Its a virus that will continue to spread. I think we need to judge the president on our response on this. Neil i want him to respond to this and not quote me about many mike. You know what im saying. I think many mike is pushed to the side now. Not to disparage him but i want to hear any of that stuff. I want to hear the democrats are stopping you or the democrats for that matter talk about the president. And you also dont want to hear the president mulling in front of experts, g cant you just use the flu shot to stop the coronavirus which shows kind of a lack of understanding of medicine. You want to put your experts forward, you dont want to look unprepared and not knowledgeabl knowledgeable. The issue now Going Forward , is your sense of whether one or the other can amass enough delegates to win, you could still make an argument especially with sanders staying in the race that she put the ceiling on that standard and biden alone can amass that on his own way things presently stand looking at the rollout of space. What do you make of a still possible contested convention . I think ultimately, we saw this before, ultimately the party and the candidates will get behind the clear front runner at the end of the day. I really do. I know. They dont do it happily. Its funny because when you go into the meetings whether discussing the party platform, it all kind of plays out there and bernies folks didnt go easily. If you talk to anybody who is part of that discussion last time around. They dont go happily but i think ultimately the goal is to be donald trump. Also say, also, this narrative that somehow the increased turnout before super tuesday was due to this surgeon socialism or support for bernie is just false. Its actually for suburban women, married women, mothers and African American turnout. In fact, bernies constituencies didnt turn out soon if they did not. Hes got the same camp running as he did last time. Guys i want to thank you all very much. Already the coronavirus is not only leading to a number of big opening events, i told you about thats been put off till at least november, but now its affecting your kids as they have scholarship programs, College Programs abroad. We will discuss those as well. Can we go get some ice cream . Alright, we gotta stop here first. From smarter atms, to after hours video tellers comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. Hi there. How are you . Do you have any lollipops in there . laughing no, sorry. Were helping all kinds of businesses go beyond customer expectations. How can we help you . Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com all right. Colleges and universities can be added to the canceling events because of the coronavirus, this case going after classes and Study Programs abroad. Theyre trying to tackle those fears right on campus and those who might be leaving campus. Robert gray is in l. A. With more. Thank you so much. Colleges are trying to prep everyone for the spread of coronavirus, largely taking their cues from the cdc. There also the American College Health Association which includes 1100 colleges. They have created a task force trying to prepare universities for the spread of the disease. There have been several cases in l. A. So here at usc officials, their messages emphasizing a calm caution. My catchphrase is planned, dont panic. We all need to be aware of this, we need to have contingency plans for what were going to do for the impact. That does not mean though that theres an immediate risk and we dont need to panic. Neil, it seems like business as usual on the university of southern california, students milling around, going to class. The cdc is asking them to consider canceling upcoming foreignexchange programs and that is exactly what usc has done in those level three countries, china and south korea and italy. They are not allowed, youve seen universities and vermont, North Carolina also canceling those students, bringing students home. We should also ask, spring break is coming up and usc advises against international travel. That is beginning on the east coast, most universities will start going next week. Something to think about and so far no word yet on whether or not there will be sporting events with no spectators in the stands. Weve seen that in italy but we continue to keep an eye on that particularly as march madness is just around the corner. Can you imagine having all those games. Here we go. Thank you very much. Meanwhile the Vice President mike pence is sort of overseeing this Coronavirus Task force. We will be in Washington State tomorrow, thats been the ground zero attributable to the virus. It spread outside china and is accelerating at whats happening internally in china. The World Health Organization is also saying the death rate right now for this is about 3. 4 compared to about 1 for the common flu. The numbers are not quite what they seem. Who knows that better than doctor mark. It was scary numbers but you say theres a caveat. Heres the caveat. Look at south korea where they actually tested hundred 20000 people. They tested over hundred 20000 and they found 5000 cases. The death rate is less than 1 . Thats an Adult Society with American Health system. This number that the World Health Organization is throwing at you is in places where maybe theres thousands of mild cases out there that have never been diagnosed. Working to miss the mild cases. So when they based on a percentage of what the population, the population exhibiting. Theyre basing it on diagnosed cases. The number of cases they know that they have confirmed. The 3. 4 of what. Diagnosed cases, proven cases. Im saying there are thousands and thousands of cases that have never been, look at the United States. We have nine deaths in a hundred cases, do you think the death rate is 10 . No. Its thousands of cases, there are cases over a thousand in the United States not diagnosed. So the denominator is much larger. Bingo. It all has to do with testing. So where do you think we stand with this right now. When you talk to people and everyone comes up to you, here and elsewhere, help me with this, how bad is this two ive written books on contagions and i wrote a book on fear. The messaging is ridiculous. The fear quotient is and are mostly high. Even the report that was just about usc, the had Health Person said contingency plan but dont panic well guess what you do, you panic. So just saying the word panic, dont panic. Theyre already making telling people dont go to large public venues, march madness, but its playing out again and again in all of europe. Whats the purpose of all of this. The purpose isnt that this virus is going to kill you. The purposes, can we control it. Can we get a lid on it. Can we squash it before it becomes a worse problem. Thats a Public Health. But you dont want to make people feel overly fearful about it. We need people to understand that its an emerging contagion we dont have total control and its very contagious and its at least as deadly as the flu except for young people. Thats what we need to get people to understand. Testing helps with that. Part of the problem with not having adequate testing in the United States, we have it in the new York City Health department finally, but i want to be able to test people not as the cdc says, people with shortness of breath and fever, those are the cardinal symptoms. I wanted test anybody who thanks they came in contact with it to reassure them they dont have it. We need to use testing to calm fears and we dont have anywhere near that testing. Neil are you doing anything different yourself. I think im probably like everyone else, more conscious of keeping well hydrated and washing my hands and having a little more social distance than usual. Thats good for the flu. I notice you avoid all of us. Its common sense. Cutting down on all viral spread. I appreciate it. In the meantime, after spending half a Million Dollars on his campaign, michael blue bloomberg is out endorsing joe biden. , i guess we shouldnt be too stunned by this, i guess the next issue, one with infinite amounts of money to craft some pretty good messages can do the same for joe biden. What you think. I certainly think joe bidens campaign had been broke it would benefit from the Mike Bloomberg fortune but he didnt have to use any of his hightech to interpret the data was which was that he got clobbered on super tuesday. If i was in American Samoa i dont think thats a great return on investment. It does show you how much the press sometimes, in my view, over values the importance of money. Its important but ultimately the candidate in the message. Im just wondering how this will be reviewed. If you talk about a fullcourt press to try to resuscitate rescue, resurrect joe biden and it worked, and im wondering now, still the same joe biden, problematic campaigner, not that theres anything wrong with that, but im wondering if people are ready for the reality that he still the same guy. This many gaps to come and twist and turn in pain, but dont forget, after iowa and New Hampshire the media, the market reduce his campaign to a penny, but then when there was this great cry in the democratic establishment amplified by much media that Bernie Sanders nomination would be disastrous and there probably lose to President Trump, there was a turn and suddenly biden after South Carolina got a huge wave of positive press. Its not over now just as it wasnt overdone. Youre very good at it, i want to get into, just avoid and dont go with the consensus at the moment that has historically been proven wrong time again, whether we go back to people saying biden was stoppable until he wasnt stoppable, Ronald Reagan had no chance, we know what happened there, but were constantly reminded that they dont turn out that way, yet we keep falling on the same banana pill john mccain was buried in 2007 and he won the nomination so you think we would have a little more strength and humility but i guess the pressure of cable news and online punditry is that you have to have a take. Whos gonna win and lose. Can we narrow the field. Sometimes the voters have to weigh him. Yesterday was the first and last day that Michael Bloomberg had actually face the voters. The line that i hear, it doesnt matter, the network of the station, when i hear that, i discover its not. The dog still has like the dog food. And look, spending was unprecedented. He was moving up in the polls but eventually people had to see the flesh and blood and he turned out not to be such great candidate. Suddenly biden is looking much better by comparison but look. Bernie sanders has a lot of delegates to and it would be a mistake to now go the other way and count him out. With some of the latest delegate counts they are even, the two of them and a long way. You sort of put everything in perspective. Everyone wants to get a snapshot. Its like a snapshot. Thank you very much. We have a lot more coming up. [inaudible] more after this. And get your Interest Rate right so you can save big. Get a nofee personal loan up to 100k. Nexthi. Oh, susan get a nofee personal loan what a surprise, youre here early you know life line screening assesses your risk of stroke and cardiovascular disease. Looks like somebody should have gotten screened. Life line screening is the easy and affordable way to make you aware of undetected Health Problems before they hurt you. 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So, what are you waiting for . Download now and get your first stock on us. Robinhood. Tennessee was devastated by that deadly tornado. Companies are stepping up to help including uhaul. They tell us about the efforts the company is taking to do just that. Thank you for taking time. How does it look there now that youre finally getting a chance to see the magnitude of this. Its gotta be devastating. Its very devastating. Driving around the nashville area checking all my dealers and stores, seeing what were enduring is heartbreaking but we will just work through it. Neil what are you doing exactly. What we like to do is when theres devastation like this in the community because were at part of it, we extend a branch of our storage. If we have availability, we know people need dry secure place to put their belongings while the recovering week send that out to them. We have several Stores Across middle tennessee that are willing and able to help, nashville, mount juliet was hit hard, we have a store and were here to help them. For a lot of them i know, youre just trying to get it moved to a safe place, but the stories keep coming back, you were there about a lot of them just have very little if any warning in their scared. They are scared of it happening again. What are you hearing. I know what happened really early in the morning, but my team members, they got the warning, they were safe but where were at now to where it could be, were in a good place. Obviously what youre doing is helping people deal with that. Theres a lot of damage, a lot of dick brief, what are you looking at . Were in the same vote as our community. We have a store downtown nashville thats completely gone, demolished. Thats why im thankful if it had to happen it happened when it happened instead of my team members being there my customers being there. We are safe, but even though on a personal level, we still want to help our community because its always been a company of people who wants to help people. Very inspirational stuff. You saw your own guys dealing with with their own difficulties. We have a lot more in development on that front. My dd my dd before we board. Excellent. And you have thinkorswim mobile so i can finish analyzing the risk on this position. You two are all set. Have a great flight. Thanks. Well see ya. Ah, theyre getting so smart. Choose the app that fits your investing style. Youve been hearing a lot about 5g. But theres 5g. And then theres verizon 5g. Were building the most powerful 5g experience for america. Its more than 10 times faster than some other 5g networks. And its rolling out in cities across the country. So people can experience speeds that ultra wideband can deliver. 1. 7 gigs here in houston. 1. 8 gigs here in frigid omaha. Almost 2 gigs here in los angeles. Thats outrageous. 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Hillary von is in West Palm Beach florida. That is probably delegate rich. [inaudible] hillary. Neil, it is the largest primary price apt on the table with over 219 delegates up for grabs. Joe biden just got a major boost here because this morning, Mike Bloomberg ended his campaign and backed biden and thats a big deal because biden now can benefit from Mike Bloombergs ground gave here in florida. The Bloomberg Campaign has the largest florida footprint of anyone in the race. 14 field offices and 150 staff in the state. Yesterday, bloomberg, when he was still candidate said he thought he was in a position to win. We have an election coming up in two weeks in florida and i think we have a real good chance to win the state. This is a state that obama won three times. Biden limburg boost could be a roadblock for Bernie Sanders whose call for mandated government run healthcare for all might not win in a state that has over 20 of the population is over 65 years old and sanders will have to tell them if they like their healthcare now they wont be able to keep it. Thank you very much. In the meantime, you heard the story a lot of times. High taxes taking folks out of california, making them go to the state confines like texas, a california documentary looks at into exactly why thats happening. California is for the very rich and the very poor. Everything is more expensive. We cant live here in california anymore as a middleclass citizen. I was born and raised in the state and we realize its become unaffordable and thats heartbreaking. California, they are shocked. Their standard of living goes up 4250 . All right. Will, its an interesting look at how this evolved into the california that a lot of people know to be one of high taxes and dwindling opportunity. Thats the way it seems to be playing out with a net loss and other low tax environments but its a lot more than that. Its so much more than that. California has 12 of the nations population and 50 of the nations homeless. Business regulations are crippling, high taxes, there are just so many problems going on and its forcing a lot of people to leave. Over the past ten years 5 Million People have left california in 600,000 moved to texas. A lot of this goes over to nevada but there helping out and ive only seen local officials in san francisco, l. A. , theres nothing like the weather here and the beauty here and they cling to that. I hear them saying in new york city where the northeast and these hightech, where else are you going to go. Well, in california they found plenty of options havent they. I live in Hollywood California and i love driving down hollywood boulevard in my convertible but thats not a lot enough for people to stay when they cant afford to live here. They moved to texas and a lot of them, some of them might want to continue to stay and they dont realize why california is the way that it is. A lot of people are moving to texas and nevada, montana and their breaking up with the fact of why california is the way it is. If you think about it, some of the richest cities in america are in new york state. You can look at san francisco, you can look at highway but theres a homeless problem unlike any other in the nation, and its not for a shortage of money being thrown at the problem so whats going on . Its lef leftist policies. Theres just as many fortune 500 companies as california. Regulatory Compliance Costs for the Small Business on average is a hundred 35000. Year. Thats just one example of whats happening in california. Leftist policies that have people not working and the gas tax in california, a 13. 3 state income tax, the highest in the nation were in texas at zero. That is a very wonderful thing when people are thinking about moving to a stat place like texas. So why are you staying. Im staying because im a fighter. Im someone who has seen what has happened this state and i love the weather and a lot of things like california and i want to stay here and try to fix it. I know its an uphill battle and i know i cant do it alone so i call on all the conservatives that can no longer be scared of being ostracized in your communities in hollywood. You have to stand up and fight for what you believe. Or it will continue to get worse. Take a good up close look at this. It goes way beyond politics and the government giving you way too much. Meanwhile, lets look at the board. Coordinated funds secured democrats and republicans of agreeing what will be better than an 8 million package. Interest rates at an alltime low. Healthcare stocks coming back so right now its a good mix. 1 in 3 deaths is caused by cardiovascular disease. Millions of patients are treated with statinsbut up to 75 persistent cardiovascular risk still remains. Many have turned to fish oil supplements. Others, fenofibrates or niacin. But heres a number you should take to heart zerothe number of fda approvals these products have, when added to statins, to reduce the risk of cardiovascular disease. Ask your doctor about an advancement in prescription therapies with proven protection. Visit truetoyourheart. Com all right. Our mortgage will Mortgage Rates follow the tenure low. Weve never seen him thi them at this rate. Where are we headed here. The ten year treasury yield is at a historic low and it will lower Mortgage Rates. Mortgage rates are already very low which makes it an amazing time to refinance or buy. Ive already begun to see more and more homes come on the market and i think this will only continue to incentivize people to actually move forward whether thats upgrade or refinance. We have to remember a Home Mortgage is normally the largest liability and american will have in their lifetime. If they can lower the cost and have more money in their pocket, they can then use that money to buy consumer goods which will help the economy. I think overall this will actually be a very positive sign for the Housing Market. But will be underlying demand affect the price of the product, in other words home prices than which have been a constant, but not going up to crazy start really moving crazy. Prices have gone up, as weve mentioned, some at a slower pace than others depending on the state and the region, but i think now with Mortgage Rates going down its definitely going to slow that down in incentivize people to jump into the market. I think that Consumer Confidence is going to go up when it comes to housing in particular and this will definitely be a positive change for the Housing Market. In florida, the big beneficiary, the no tax environment. Absolutely. We are to have some many people coming from california and new york, and you can tell because theres a lot more traffic here that it was before. The Housing Market is definitely benefiting from that and were beginning to see entire businesses relocate to south florida. All those new yorkers that made fun of me when i was on the first cente season of the apprentice, now they are sitting on the beach because technology has allowed them to do that and theyre able to make money whether doing so. But the horrible drivers. You have to admit their horrible drivers. Now let me get a sense from you, is it still on the luxury and, there might be a limitation if you can write off as far as taxes and all that. How is it at the higher end in florida or acrosstheboard gains there. Whats so interesting about the luxury market in south florida is the homes we are seeing cell, its very price driven. They are priced accordingly and theyre priced right, ironically the homes that are 20, 30 million are the ones that are moving and thats because of the great indicator showing you people are moving their money from new york and from california, huge Financial Firms and the money that they are saving on taxes, they are actually investing into the real estate market. Anything under the Million Dollars is also still very much a sellers market if its priced correctly. Price is the main factor and if it states. People want instant gratification nowadays. They dont want to think. So that coupled with staging makes it appealing. The luxury condo market is definitely slower than its been in past years. Katrina, thank you. Rick how are things going on the political front with cats bailing out for delegates and Bernie Sanders, right now, he is essentially tied with biden. We have our panel of advisors, jared good to have you. The president was commenting on this race among the democrats saying he could beat any of them which is now down to two primary guys. Who is the bigger fear or threat, do you think . Think the democratic establishment shouldnt take much solace in the fact that biden one a lot of Southern States because trump is likely to win those by double digit. Virginia is an exception because of the washington d. C. Suburbs but i think he will win thereto. But you know, its really, its encouraging to me because i see than they were in 2016. There were a lot of negative trumpers. The establishment was against them. I think when Bernie Sanders supporters see what happened this week. Reminded me all the candidates came out and dropped out of the race at the same time, it reminded me of all those women who came out and claimed trump had sexually assaulted them right before the 2016 election. Came out later they were paid to say that. I think that sanders supporters will see that. If there is a brokered convention and people like Donna Brazile throw it to an establishment candidate i think they are going to learn that sanders supporters are not necessarily, i think they may be more, less, sorry, more antiestablishment than they are socialists. I think they will switch parties. Neil we dont have proof that women who were accusing him were paid to say that. But leaving that aside, i do want to get the sense that democrats are trying to make up for lost time by uniting around at least joe biden and showing the party can coa lens around the candidate. Coalesce. Is it your sense it will be a ditch vieded party no matter what unifying is going on around joe biden then . I think joe biden is seen as an establishment candidate and i think all the antics weve seen in just the last couple days are obviously orchestrated. I think they will, i think they will move sanders supporters to vote for somebody whose antiestablishment over somebody who is socialist and i think that person is going to be donald trump. I think he is going to be the beneficiary of all these games and the democrats would be wise to, to learn that now neil are you worried about the coronavirus . No one knows how that sorts out but it could be a problem for the president. Sorry, i didnt hear you. Neil the coronavirus, a worry for the president . I think it will not be a news story in a couple months. I think its going to move away. But the fact again that Elizabeth Warren is still in the race, the only one who can hurt bernie is more proof it is orchestrated. Neil hard to tell right now. Jerry, thank you very, very much. Go to my friend Charles Payne to take you through the next hour. Charles hale, neil. Good afternoon, everyone, im Charles Payne, this is making money. Stocks are higher but cautious as mounting evidence that the economy is local motive run into a hole of doesnt and unknowns. Well get fresh insights from the fed in one minute less. Joe biden scoring a massive victory on super tuesday powered by black voters just as President Trumps numbers among the key demographic were heating up. Now to Jennifer Schoenberger at the fed. Businesses are concerned that the coronavirus will hurt operations but to date they are not seeing a Significant Impact as we look across Companies Across this country, anecdotal evidence across the Federal Reserve 12 Bank Districts revealed in february. Charles, were seeing disruptions to supply chains and delays. Companies in several districts are concerned we could see further disruption in the coming weeks. The travel industry and tourism are being hurt. As we look across this economy, anecdotally were not seeing broad pain. Now, case in point, you look at boston Federal Reserve