Transcripts For FBC Cavuto Coast To Coast 20240712

Of the coronavirus, the slow sometimes bumpy reopenings across the country, to say nothing of the protest and a lot of people on wall street say hey you arent jiving with whats happening on main street and then low and behold we get this stunning jobs report that changes the equation and has people thinking that you know what . Maybe the markets have been right all along as they again tease record territory, virtual ly all of the s p 500 sectors are advancing right now, and the rate on a long bond here a 10 year note as is better known, man oh, man thats practically hyper inflation. Were just around 1 ,. 93 who would have thought a year ago if i were to give you a quote like that that id say it is rocket ing backwards, but it is, especially from where we were, not too many weeks ago remember we were darn near 0 they were talking about negative rates. Were not out of that mathematical woods here but it does change the overall sense of where were going with this market. Jackie deangelis is here to spell it all out, jackie, this is pretty sweeping. Reporter wow good afternoon to you, neil. This job number just blew it out of the park. Yesterday when you and i were sitting here we were talking about an Unemployment Rate expectation of 20 , not only did we not see that, but we saw the rate go down to 13. 3 , so the economy is getting back on track, much faster than anybody could have perceived and if thats the case right now, when larry kudlow had told us that last month be so bad, you can only imagine that the strength will continue as states start to continue to reopen, and really get back on their feet in earnest. The one were watching today is the nasdac because it is in record territory right now, so if it continues around these levels its got to beat 9,817 at the close, it will be a new record. February 19 was when it hit that last high, and of course, that was when we thought everything was the last time that i can remember, everything being normal but theres so much to watch here as well when it comes to the dow youve got an almost 1,000 point moved to watching the s p 500 as well, going into the sectors that are seeing biggest boom from todays report , youre looking at energy stocks, starting to bounce back here strong oil prices, the belief that demand is going to start to come back and lift that sector but also, travel and hotels look at the airlines today, they are all up acrosstheboard, and the same thing with the hotels because the expectation is that folks are going to start to get back, resuming daily activities, resuming summer vacations, and things are going to start to normalize at some point soon and as you mentioned neil despite the civil unrest that weve seen across the country, the stock market really looking past that and you know, if they had a crystal ball and they could see this jobs report today, wow then as you said before, maybe they are there. Neil yeah, exactly, i mean, we always talk about this , the markets are not necessarily clairvoyant as much as they are not in the here and now and that bugs people remember the markets were selling off as youll recall long before we started getting distressing news on the virus here or the fear that it maybe was going to be a little more pronounced than we were hearing out of official washington, so are not always so , but certainly over this cycle, so well watch it jackie thank you very very much. And we want to go to blake burman at the white house for that session where the administration sort of outlined its pleasure with the latest numbers and ignoring well i guess one nasty question in particular. Blake . Reporter he called for a press conference the president did, some of us tried to ask questions we didnt get that opportunity in any event, it was the administration and the president today. I guess a step short, neil of Mission Accomplished though the white house and the president certainly feel very vindicated that their economic policies up until this point in time have gotten the economy back to where it is at this moment. Still though, the president when talking about the may jobs report at one point said it is the greatest comeback in American History so thats clearly how the president and the white house feel at this very point. There is still a question going forward, neil, about what the next step economic measures might be. The president touted this possibility of other additional relief measures, and the president saying at one point, well be asking for a payroll tax cut, well be asking for additional stimulus money because once we get this going its going to be far bigger and better than weve ever seen in this country and also talked about this idea of deductions or tax credits for restaurants remember neil throughout the week we had been reporting one of the ideas on the table at the white house is this idea of a travel credit or a travel deduction meaning if you go out on a vacation go to a restaurant or a hotel, that portion of it could be a Tax Deduction and in any event the president is signaling still that he wants more economic measures even though there are im sure some within his own party who might say well maybe lets pump the brakes on that for a second because the economy is moving in the right direction. We also heard the president sort of lay out the roadmap going forward, because keep in mind, we are still in the middle not only of a recession but also, a pandemic. Here was President Trump from earlier today. President trump so the best strategy to ensure the health of our people moving forward is to focus our resources on protecting high risk populations like the elderly, and those in nursing homes, while allowing younger and healthier americans get back to work immediately and open up our schools, open them up. We understand this disease. Reporter now this was the reaction from the top democrat in the senate, Chuck Schumer after the president s rose garden event. Schumer saying, with nearly 20 Million People out of work and unemployment among African Americans increasing, now is not the time to be complacent or take a victory lap. 13 unemployment number is not joyous or stew pendants us as President Trump has wrongly stated. Schumer is calling for more help noting that the ppp program will be expiring later this summer, neil at one point today in the rose garden the president did sign that ppp extension that had near unanimous support here in washington from republicans and democrats alike. Bottom line what we heard from the president , he feels very good about where the economy is going, is right now, notes that this is headed in the right direction, considering a lot of things are still closed at this point, and we heard from the president who met with his Economic Team earlier this week that he believes more relief is needed. Neil . Neil maybe not as much though, right . Im just wondering about that. I heard what he said about the payroll tax thing. Thats a common theme out of the white house. Maybe suring up as he did today that theres more of that, i get it but if you think about it now, the impetus to that might have eased a little bit, right . Reporter there will certainly be arguments of hey look at where we were, look at where we are mr. President you say the best is yet to come. Weve spent 3 trillion in hard money at this point. Some of that money isnt fully out the door yet. The fed is doing its thing. Why do we need to spend more . That, im sure, neil, will be some of the arguments that some will make here in washington and from within the president s own party, but you also have democrats, remember they passed their heros act, 3 trillion. They want an additional 3 trillion. The president wants the payroll tax cut. Mitch mcconnell wants business Liability Protection so theres all of these things we heard the president talk about restaurants, neil, Tax Deductions so theres all of these items that democrats and republicans want. It seems as if, neil, something will happen, can republicans and democrats and this white house agree again on another measure will be one of the things that washington debates clearly here in the days, weeks, and months ahead. Neil all right blake thank you very very much before i get to my next guest look at these averages. Can someone take the politics out of it and just acknowledge a very strong jobs report. We had more than 2 million americans, 2. 5 million more americans find jobs and some were predicting we would see a decline of up to 20 million los ing their jobs that with some of the extreme forecasts out there, furthermore some thought the Unemployment Rate itself could balloon to close to 20 , maybe take a run at the highest of all time in the 1932 period where we got up to close to 25 . This is not that. This is quite the opposite of that. Whether youre on left or the right, good news is good news, across all sectors of the economy here, so that is a pronounced development and as weve been telling you, the markets have kind of been telegraphing this ignoring a lot of the anxieties along the way including all of these protests convinced looking past that that cooler heads hopefully would prevail, so far that does seem to be the case. At least on that front and on the virus front, even with spike s in cases were not ignoring those spikes. They arent nearly as severe as some would fear and ironically the very protester which i alluded that could produce a spike in cases no less than andrew cuomo of new york said he fears that, that is a very good chance that those protesting might want to look at the protester next to he or she and realize that hey wait, im now a better candidate to catch this thing. Having said all of that, markets see beyond that. I keep stressing this on the downside and the upside, markets are normally ahead of where you and i are and they see beyond this. Im not saying they are always predicting this down every little development, but more often than not, carol roth knows that very very well the former investment banker on what she makes of this. You know, carol it gets back to this idea, what type of recovery we might be looking at. The president has always championed this idea of a v shaped recovery and a lot of people have issues with that that it be very hard to do but certainly this report maybe adds credence to that. What do you think . Well i want to echo what you just said before. Lets take a moment to just embrace some good news, because we deserve some good news. This moment, i dont want to be, ive got to bring the reality in , and even though we have good news, getting back to where we were before is going to be incredibly difficult and if youre thinking about managing risk, you have to look at the fact that there really is more Downside Risk than upside potential right now in terms of the economy. We dont know how many Small Business owners will never get back to work. Productivity very likely is going to go down because even if its a Small Business or the big businesses open, they may have somebody in every other seat instead of every seat. You still have to do social distancing, Employment Costs are going up, i think the fact that we have this social justice continued push is only going to put more pressure on increasing wages particularly minimum wages , so from the profit standpoint of the equation, i think that the market hasnt really wrapped their head around all of those details yet, and so we may not get these pulls certainly glad to see were on the upward trajectory but to get back to where we were even in 2021 i think its going to be really difficult. Neil all right, lets talk a little bit about what you expect with the rollout. I think that a lot of things changed when new york city more metropolitan areas begin to reopen, boston comes to mind, philadelphia, major cities because that will have a big impact on these numbers going forward. Its going to be a very slow roll of things, certainly in the new york metropolitan area that begins next week. Im just wondering what your thoughts are on that and how important that will be. I mean, i think its huge. Im in chicago, obviously youre in new york city, these are very big portions of the economy and have had a huge impact, so i think that we have to see what that means in terms of is there a respike in cases . It may not happen, by the way, in july or august, but it may be something that happens again in the fall so you may get sort of that false sense of security that things are moving along and then to be safe with a new issue coming forward, and certainly, the fact that were having this continued social justice outcry right now, those are really big issues particularly in these big cities , and that will impact the things the black Community Getting back to work, i think will impact the Overall Economic picture, it may create additional issues, and then i think theres a third piece in terms of liability of businesses from all these people and these cities where people are packed together like chicago or new york, getting back to work, if we do see an uptick in coronavirus, so i think theres still a lot of uncertainty and risk on the table and you have to remember, neil one of the interesting things about the market is that companies have taken away guidance and so the markets kind of rolling just based on their own good feelings right now. Theyre not getting that guidance from companies whenq 2 earnings come out and then again q 3 and we start seeing realities you know markets always pay more for possibilities than realities i think thats where the rubber hits the road. Neil well all right, ms. Smarty pants debbie downer, well watch it closely carol but seriously i appreciate your big picture view of things and we dont want to get too caught up just as like we dont like to get too caught up in the down news we get. Carol raised a very very good point about all of these companies that surrendered giving what they call guidance in other words they have no idea of the impact of the virus, so in that environment, the more bearish among the traders like to say its a rich market because if we dont have anything to judge this against or if we think that earnings are going to be pretty soft and these prices dont really seem to be justified, so there is that. Now getting a good idea how much money they will be making we can recalibrate i dont want to sound like a wonk, but by a lot of those traditional measures we use multiples on the price of the stock versus the underlying earnings. It is pricey. It is a little frothy, but again perspective is everything maybe the earnings catch up with what the stock market has done we just dont know. What we know is today, no one really cares about that. More after this. Introducing new voltaren arthritis pain gel, the first and only full prescription strength nonsteroidal antiinflammatory gel available overthecounter. New voltaren is powerful arthritis pain relief in a gel. Voltaren. The joy of movement. Neil all right it began with the nasdac 100, its a non financial index, and a lot of Technology Names but certainly not exclusively that was the first record that the nasdac itself was out of record territory, today and were very closely following the dow and the s p 500, entrust the accuracy of these numbers to our Charlie Brady our senator, the guy is like smarter than smart and i get off by even a tenth of a percent, phones ring, hes screaming so ive got to get this right, and then this was some maybe about 10 minutes ago, andy right . The dow was about 7. 5 away from a record. That is an alltime record and the s p 500 about 5 1 3 percent and i know charlie will come back on and say well actually its 5. 48 . Bottom line, were very close, and that is significant enough okay, brady . Done. Now in the meantime i want to go to mark hamburg, the bank rate senior economic analyst. Mark, what do you think is going on here . Now i know and you often remind me, markets are in one world sometimes the president day economic environment is the other world and if you were just to focus minus the jobs report today none of this be justified but here we be what do you think . Well, its a question, neil, that is should wall street and ultimately the rest of the world be rejoycing thats much betterthanexpected report and the answer is absolutely yes. As you noted in the past number of minutes, we were braced for something which would have been yet another body blow in the sense of elevating the rate of unemployment from the previouslyalready elevated level and yet we got to stare step it down a little bit and there are some troubling numbers beneath the headlines, and we know that we need to levelset every now and then and weve been through a lot over the past few months and and remind ourselves that at the heart of all of this is the virus and that is still an unresolved issue from a medical standpoint, its unresolved from what happens with the epidemiologists tell us is the seasonality of the virus later this year, it may behave again like the flu and well have a problem in the fall, so you know, i think i want to encourage people to celebrate this number, but we need to be cautious. Theres still 21 Million People un unemployed. Half of that number 10. 5 still working part time and want full time work. Neil thats very interesting i didnt know the parttime stuff. Let me ask you this, mark. We are very close to levels where we were 20 some odd million jobs ago yet we dont have those right now, so that would seem to indicate that the markets are ahead of themselves. Theyre acting just like we were back then, in february, but were nowhere near where we were back in february, so is there an adjustment, an order, and especially when so Many Companies still have the devil of a time getting any sort of guidance and i certainly understand that, but it makes the people who get leary of jumping into this market trying to do so in this market. What do you tell them . Well, neil, you know, weve been through some tumultuous events over the past several months and it wasnt that long ago, although in a way it feels like a year ago that we were in this , these throws of significant days of downtrends in the market that felt like something that was even worse than the financial crisis of a decade ago and so the market at that point was i would say anticipating and discounting worse Case Scenarios that might have even been significantly worse than what we have had and let us not forget the trillions of dollars that have been brought to the table by the Federal Reserve and the trillions that have been approved the president and congress and the 3 trillion thats still hanging out there yet to be dealt with by the senate but approved the house. That does make a difference, and so that is the new part of the equation that wasnt present prepandemic and theyre going to be consequences to deal with all of that down the road but that is way far off into the distance and that helps the stock market. Neil im just wondering were going to get into it more as the show progresses here but when it comes to that, ive got a distinct read from the president at least hes open to a payroll tax cut that sort of thing but im not quite sure if they feel the need to do anything as overthetop generous as some of the stimulus weve already seen the trillions of dollars leaving the Federal Reserve and the trillions of dollars thrown at this economy to goose it, so in a way, im wondering if people be disappointed if that doesnt materialize, because you could make a pretty rational argument, we dont need to do it. Neil its june, and in november, theres an election, and all these folks work in washington, most of them want to stay there, so physicalosterity has been thrown out the window and most people agree thats appropriate in the throws of what weve been experiencing and the president is frankly somewhat agnostic with respect to if somebody sells a bill to his desk agreed to by both parties he generally is inclined to sign it so we know that the white house is pushing for the payroll tax cut, we know the democrats are against that for the most part among other reasons that could do harm to the issues regarding Social Security et cetera, people like Social Security they want it to be funded and they want to have expectation theyll get their benefits so lets just say its early days and if anything the events of the past few months not to mention days and weeks have exacerbated the political differences between republicans and democrat s, but i think they probably all can agree that they would like to keep the American Public happy by giving them some economic fiscal stimulus which could help incumbents and everybody whose currently in office, and one of those. Neil yeah, i forgot about that little thing called the november election. Well focus on that mark, thank you very much, great senior economic analyst and very savvy read of trends innout of the market and the economy. So, its this market thats got everyone talking right now and the dow, i mean, when i look at that 27, 167, and i remember back in the throws of the worst of this , in march, we were barely hanging on to 18,000, so you have 9,000 on that little more than 2,000plus points away from record territory and the nasdac in record territory and the nasdac 100 has already been kind of vacationing in record territory, and youve got Interest Rates backing up. Dare i say it to an inflation leary almost 1 . Different times, my friends, different times. Stay with us. Right now is a time for action. Thats why usaa is giving Payment Relief options to eligible members so they can pay for things like groceries before they worry about their insurance or credit card bills. 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Neil all right, well ive gotten no correction from Charlie Brady our stock senator on the numbers i mentioned and how close we are to record territory certainly with the dow and the s p so when i say were close were close, when i say its about 5 and 7 respectively thats pretty close, when i say the nasdacs at record territory, the nasdac 100 got into record territory, all this , despite a lot of people who were thinking that maybe this could drag on a little bit but they are still talking stimulus so thats an Important Development in and of itself. You might make the argument as many republicans add, that this is proof that the stimulus already out there is doing its thing so you dont need to add to the sort of keep it goosing. Lets get the read from Charlie Gasparino he talks to a lot of people, charlie what are you hearing . Charlie you know, im not a big market cheerleader but today is a good day as they say. Here is what we get from our congressional sources. As you know the stimulus package the next round of stimulus was always a matter of the news events. They could change the size, the scope, what is in the next stimulus package. It changed earlier in the week after the weekend of unrest and there was a lot of talk about putting money back to states that were hard hit by the protests and the riots. Now were getting a different take because of the strong jobs numbers. You know, is another stimulus needed . How much is needed . I think theres generally, general consensus from my sources on capitol hill that there is going to be another stimulus. Now, the timing and the size is going to be different. What we understand is the republicans, Mitch Mcconnell likely to push the next round of stimulus to after the july recess. Thats what were getting at least now following the jobs reports. The reason . They want to wait and see if more money, more trillions were already pumped between the fed and the Federal Reserve Something Like 15 trillion into the economy which is why the markets are up and businesses are returning. Thats a good thing. They dont want to overspend here, so thats what were getting initially from them. Push it out to july. As we previously reported, there is appetite on both sides of the aisle now to give money to states, the state and local governments, get some money to these states that have been battered not just by the pandemic but also by the looting and the rioting which is costing tens of million s of dollars maybe billions in repairs, and other costs. Mcconnell and the republicans when we understand at least for now, are unlikely to allow that additional cares act unemployment insurance. Its like on top of the insurance which you already get from unemployment there was a cares act provision. It was extra money i believe it was 600 extra. They are now moving away from allowing that to extend that past july, so again, because of the changing economics, theyre looking to ratchet that back. Its also unclear just how much infrastructure and individual stimulus checks will be in the next package, now that we have some decent economic news. Again, neil, this could change. Nothings written in stone. It changes based on the events. This was a very good jobs report has a lot of republicans wondering, do we spend additional trillions that are already on the 15 trillion we spent that obviously, a lot of that adds up to the national debt. It has to be repaid, but again, its based on the news and the news right now is very good, so you have some people in the Republican Party mainly the leadership wondering if we should be thrown a lot more money at it but i think the consensus is from what im gathering, is state and local governments are going to get money. Its unclear how much. Neil back to you. Neil it is an election year, so its probably going to be something so well watch it closely charlie great reporting as always my friend Charlie Gasparino the best in the business. All right, we are also focusing right now on the fallout from these protests, much more peaceful last night, but in minneapolis, weve been telling you how schools want to dis associate themselves with the Police Department. I dont know how you do that but there is actually a move as the Minneapolis City Council level where some members want to disband the Police Department altogether. I really dont know how you do that but Lemont Johnson joins us a former nypd officer, and a trustee. Lemont this is getting into kind of crazy territory here. Its one thing to be legitimate ly concerned over the treatment of george floyd but then to talk about, you know , we dont want any association with Law Enforcement at all. What do you think . First, i want to extend my condolences to the george floyd family. I think that the police are needed in every community. The police are definitely needed in every community. This is a jump that cant happen we all need the police so i would hope that cooler heads prevail and people understand that the police are needed everywhere. Neil but thats not happening, and city after city, even with the booing that mayor deblasio had he was being criticized and this stunned me for the belief of being too aggressive when a lot of the criticism i heard was that they werent aggressive enough so im wondering how much this is spreading and as a former Law Enforcement official yourself, do you worry about that trend . I worry about the anti Police Sentiment thats going around and the new york city and also across the nation. The police need to be treated fairly and Everyone Needs to understand that the police are necessary. Especially in a place like new york city where deblasio has to understand that new york city is the capitol of finances in the world, so people need to be protected and their property needs to be protected and the people need to be protected, and i think that the administration is struggling to do so. Neil all right well watch it very very closely, Lamont Johnson thank you very very much in the meantime i want to pass along an item the wall street journal is highlighting the apparently the trump adminitration is easing off a plan to bump all flights by mainland Chinese Airlines to the u. S. After china said that it would permit more passenger flights by u. S. Airlines. We dont know the details here but i would imagine markets be very favorably disposed of that as you know, theyve been getting concerned, you wouldnt know it certainly lately, but theyve been getting concerned that that trade deal is just a bust, that china is not going to make good on any of this , that theres such friction between our two countries that no progress is going to be made but right now the fact that the u. S. Is looking to ease the socalled flight bannon Chinese Airlines, it appears to be wrong. Theyre not going to do that or at least not nearly as aggressively as we thought. Stay with you youre watching fox business. announcer reliability is everything. So, if your networks down, youre down. Verizon knows your customers need to reach you seamlessly. Your team needs to work from different places across many devices. Plus, you want the security trusted by some of the Largest Companies in the world. And thats why you trust us. The most Reliable Network in america. Neil all right, maybe this Little Airline titfortat weve got going with the chinese threatening were not going to take flights from your country, good well take flights from europe and other countries we dont need American Airlines coming, well cooler heads are beginning to prevail on that front with indications that we are rethinking the socalled ban , that was never banned, we never really actually implement ed it and now, because the chinese are talking about accepting more u. S. And other airlines, were considering easing talk of that and this socalled flight ban issue went away and now the reason why i mention it is that Everything Else has been very hostile between our two countries as you know this goes back to the coronavirus and what the chinese knew and when they knew it, how reputable and honest they were, we think not much, and then of course, the crackdown in hong kong, we think that theyve got to ease up on that. They came back at us and said oh , youre a fine one to talk with the protests going around in your country and long story short this is the first sign weve seen in some time that theyre trying to bury the hatchet at least in some area. Dan henniger follows all that the wall street Editorial Board member excellent writer too by the way good thinker on this stuff. Do you think, dan, looking at this that it signals hope that maybe the worst of this freeze in our relations might be thawing at that . Well i think there are two distinct, but somewhat inter related issues hernial. One is the economic relationship and the implications of this announcement not only for our relationship with china the two biggest economies in the world but for the Global Economy as well. The in significance here is that flights between these two huge economies look like theyre going to resume, suggesting that flights between the United States, china, and the rest of the worlds economies in the midst of the coronavirus mainly europe and the rest of asia, that they too will begin to ease and i think the positive implications, economic implications for that are pretty significant. Business travel has been really quite suppressed and i think there will be some knockon effects in terms of upturned Economic Activity around the world. The second issue though is our relationship, our political relationship with china, and it remains to be seen whether that is easing, because of the coronavirus, because of the things you just mentioned, chinese aggression and the south china sea, what has happened in hong kong, there is an enormous rethinking going on of the u. S. Policy towards china and i would say world policy towards china, just what are we dealing within the communist party, and that, i think, is going to continue, but this suggests as well that from the communist side, they are deciding from the communist chinese side, theyre deciding it is in their interest as well to back things off as you suggest, and rethink the relationship over the longer term, while we get the Global Economy restarted. Neil i just wonder if theyll rethink their hostile actions against hong kong because that theyre not easing up on and theyve even got laws now that if you try to desecrate the Chinese National anthem, goodbye so theyre not easing up on that kind of stuff and theyve got a lot of companies c owering, like hsbc, saying a better part will support all of this , i hope that it doesnt lead to sort of a world war here, but its put a lot of folks in some weird predicaments, you know . Yeah, the hsbc decision to support the new laws in hong kong was pretty significant, and i think what it suggests is that xijinping, the Chinese Communist party, is essentially saying its our way or the highway. Were going to push ahead with very aggressive outwardmoving Foreign Policy the wall street journal had a very good article on this several days ago that the communist party have decided they are not going to step back, theyre going to work in the interest of protecting the communist party, and its system in china and thats going to include leaning on the western democracies, the free democracies, on the assumption that they will conclude, they simply need to do business with china, but you know, theres kind of a Critical Mass of thinking going onioned this hsbc decision and business and intellectual Academic Circles that we do need to rethink the relationship with china if you communist party looks incapable of reform, then it has to go forward on a new set of rules. Neil dan, well see you my friend thank you very much, be safe, be healthy, be well, dan h enniger, the wall street journal and we have a lot more coming up including all these protests going on leaving aside the protest why the cdc is very very worried it could be a virusspreading event, after this. Introducing new voltaren arthritis pain gel, the first and only full prescription strength nonsteroidal antiinflammatory gel available overthecounter. New voltaren is powerful arthritis pain relief in a gel. Voltaren. The joy of movement. New voltaren is powerful arthyou say that customers gel. Maklets talk data. S. Only Xfinity Mobile lets you switch up your wireless data whenever. I accept 5g everybodys talking about it. How do i get it . Everyone gets 5g with our new data options at no extra cost. Thats good. Next item corner offices for everyone. Just have to make more corners in this building. Chad . Your wireless your rules. Only with Xfinity Mobile. Now thats simple easy awesome. Switch and save up to 400 a year on your wireless bill. Plus get 200 off a new Samsung Galaxy s20 ultra. [bell ringing] gerri welcome back to coast to coast, im gerri willis. High end luxury goods have been the profile targets of looters this week among the stores that have been hit, gucci in beverly hills, chanels out post in downtown manhattan, the makers of these luxury goods have long protected them watches like rolex, multithousand dollar handbags the makers of those with serial numbers that could be handed over to police or retail websites but many high end items were successfully stolen and they will be sold online. The only question is where, the big names like amazon and ebay have longused algorithms to tip them off to stolen merchandise. Smaller, more curated sets like posh mark uses real people not coding to kickoff suspect items and they actively work with Law Enforcement, and it takes a step further telling us this. We have Police Departments nationwide filling its ability into our inventory including details like serial number, photos and data and location of consignment that can help prevent the sale of goods. Even though leaders looking to make a profit have plenty of other options, one source telling us, that websites like facebook marketplace are open to these kinds of goods. In the meantime, as a consumer be on the lookout for prices too low to make sense, missing Product Details and inaccurate details, neil back to you. Neil all right, gerri, thank you very very much. In the meantime youve seen these protests going on all around the country alley all around the world probably in the hundreds of thousands of people who have been pressed pretty tightly together and now the cdc is worried that that could be a seeding event as they like to say that spreads the coronavirus, lets get the read from dr. Richard be sser, you know him very well of course the former acting director of the cdc. Doctor very good to have you back is that a legitimate worry do you worry about that that all these protests might in fact spark a new spike in cases . Well, you know, i do. When you look at these protests, theyre protesting against racism and discrimination. You see those same issues of racism and discrimination playing out during the pandemic with such high death rates among black americans, latino americans, native americans, and so its understandable, people raising their issue, their voices against these issues, but its important that as people come together to protest, that they take measures to try and reduce their risk, so wearing masks, staying home if youre sick, bringing alcohol sanitizer to keep your hands clean and if possible, keeping six feet apart , and in Public Health has a role to play making sure that testing is available at increased availability, in communities where protesterses are taking place so that new cases that occur dont spark larger outbreaks. Neil im wondering what you think of where we are in this reopening process, doctor, with the spikes in cases in some states certainly not all, we see more of his abroad in brazil , india, certainly russia comes to mind out of nowhere, iran still out of control there. Do you worry about a new wave of this here, something beyond the relatively controllable spikes im told were getting in most states . I do worry, neil, and for reasons that youve just raised. What were seeing around the globe are very high rates of spread in some countries, and i think if we take our eye off the ball here and dont follow the principles of Public Health, and declare victory prematurely, we will see a lot of widespread disease. The critical piece here and you hit on it is the different states are experiencing different things, and so if youre doing widespread testing, if you do testing or are able to break it down by race, ethnicity, even by neighborhood youll be able to see new outbreaks new cases as theyre starting and if youre able to do tracking and provide people with safe places to isolate and quarantine, youll be able to control the situation, but we are seeing still 20,000 cases a day. Some of that is because of increased testing and availability which is a good thing, but we have to be able to see at a much more local level whats happening if we want ta void big spikes. Neil dr. Richard besser, thank you very very much the former acting director of the cdc. Speaking of these protests in washington d. C. Were learning that the washington mayor bowser is once again demanding that the president withdraw military federal Law Enforcement from the city amid all these ongoing protests over george floyd. She has been reasoning that over the last couple of days. Their presence just adds to the friction in the city. She has suspended curfew. She did so yesterday, and had to do so again, but again, employee imploring the president , get them out. Well have more after this. Neil think about the significance of what happened today, that jobs report, when people are prepared to see job losses as high as 20 million americans, and instead they see a job gain of about two and a half million, when theyre prepared to see unemployment rocket as high as 20 and instead, they get to see 13. 3 . It was such a shock that they had to take it in, then they started buying and havent stopped buying. The corner of wall and broad, we have the dow in and out of a 1,000 point gain, not too far from a record. The s p 500, a few percentage point from a record. Nasdaq already on a record. The nasdaq 100, first of the major averages to reestablish a record. Lauren simonetti following it all. Lauren . Lauren i remember those numbers at 8 30 this morning. I scratched my head. I said is this correct . It is correct, neil. Lets look at where the markets are now. The dow has regained the 27,000 level. It is up five days in a row. The nasdaq at this level has surpassed its record closing high, last hit in february. It looks like the s p 500 is about 29 points away from being positive for 2020. Boy, have we come a long way since the march lows. Suggesting that not only has wall streets recovery looked like a v, but main streets recovery might be vshaped after all. Listen. Actually be back higher next year than ever before. The only thing that can stop us is bad policy, frankly left wing bad policy of raising taxes and green new deals. Lauren the president went on to say that payroll tax cut could be coming and more stimulus for the battered Entertainment Industry and the Restaurant Industry and with that, look at these party stocks all rallying with the rest of the market. Lots of these jobs in the entertainment sector and restaurant and Retail Industry have already come back and if we can show you some of the sectors where we saw a lot of job gains today, you can see retailers added 368,000 jobs, but leisure and hospitality, almost 1. 3 million added in the month of may. Heres the rub. As some of these furloughed workers are called back to their jobs, they are typically lower paying jobs. Wages actually go down. So wages went down last month to 29. 75 an hour on average because lower paid workers were called back. The question that remains to be answered is, is it the ppp program that is encouraging these furloughed workers to come back, or are those jobs here to stay. One more thing. Take a look at the airlines. Im calling this revenge travel. I dont know about you but i cannot wait to go somewhere as new york and new jersey start to open more. I think a lot of people are feeling that. American airlines is up 16 today. On track for one of its best weeks ever. The stock price has doubled this week. Thats just american. Neil people just want to get out, they want to do something. Lauren, thank you very very much. Edward lawrence right now, when things are looking so good, you really need stimulus that bad . Edward. Reporter thats the trillion dollar question. In fact, the administration looking at a package possibly around 1 trillion. The house of representatives has already passed a stimulus package of 3 trillion that is not going to be brought up in the senate here. After this jobs report has come out, some of the president s former economic advisers saying wait a minute, maybe we dont need another round of stimulus. President donald trump disagrees, saying that we are set up to do more. Listen to this. Well be going for a payroll tax cut. We think that will be incredible in terms of what were doing because again, were going to be bigger, stronger, better than we ever were. Thats going to be a tremendous incentive for businesses and also a great incentive and maybe to me most importantly for the workers. Reporter the president saying he wants to do more with restaurants, possibly deductions for restaurants or some deductions for businesses going out to entertain folks at restaurants and other entertainment venues. He pointed to current stimulus. The secretary of labor argued the Payroll Protection Program has kept 50 Million People in their jobs as it stands. The unemployment numbers, you can see the bounceback in the food and services and drinking places, about 1. 4 million jobs when you add those together. Dentists offices created 245,000 jobs. In many cases using the ppp money to bring workers back for the reopening. That speaks directly to those companies that received that help. In the next package, republican senators have been very wary about Unemployment Benefits that were in that last package so you may not see that. There has been talk about 450 a week to get people to go back to work, or some reduction in the extra 600 a week benefits that are being given to unemployed workers as we speak. House Speaker Nancy Pelosi saying she does not want to get the foot off the gas, indicating more stimulus is needed. From her front, she says she would like to see states with direct payments. She also wants to see another round of direct payments to americans and expanding the Food Stamp Program so you can see how the ideology, the two sides are split. This next round of negotiations could be very difficult. Back to you. Neil to put it mildly. Thank you very much. The former bush 43 Economic Adviser Council chairman with us now. Glenn, good to have you with us. Thank you for taking the time. What do you think, first of all, of the report itself, already im watching various groups who are taking it apart saying well, you know, its still very high unemployment for blacks, hispanics, et cetera. You could find a lot of ways to look at the data and be negative about it but by and large its a very very strong report, isnt it . I would agree with that. Obviously when we have this many people unemployed its still a problem, but this is a bigger snapback than many people had thought because of two things. One, the energies of the men and women in our private sector and public sector, as lockdowns begin to end, and strong Public Policy that supported people through this recovery. I agree with what President Trump said in your clip, though. I dont think we are quite done with getting the economy back but the employment report was great news. Neil so the president said theres more stimulus coming. He didnt telegraph how much. He wants the payroll tax cut. Let me get that issue on the table with you right now. Many republicans say its not feasible and it really wouldnt do that much. On the payroll tax cut issue itself, it would be immediate but would it be necessary . I wouldnt be picking the payroll tax cut as my number one idea for a time like this. When you have a lot of people not working, the goal is simply to get people back to work. I would say the easiest stimulus comes from money that congress has already appropriated which was in the cares act to support the Federal Reserves lending facility. That hasnt done much to get them going but that money is already there. I would agree with some democratic friends, too, that we do need to support states in some targeted ways during this. I think theres more money needed. The payroll tax cut wouldnt be top of mind. Neil im wondering what you think about this bonus idea to encourage workers, many of whom had very generous unemployment provisions courtesy of the federal government, 600 a week on top of what theyre getting from the state, to sort of get back into the work force. Are you for Something Like that . Would it do much good . What do you think . I think the quicker we can get people back to work, the better. We know that peoples advancement depends on being on the job. You can do that by making the bonuses more proportionate so less generous. You could also do it by having a reemployment bonus thats been proposed by some members of congress. We need to get people back to work. That was a real mistake in the first legislation. Neil you know, theres a flipside to all of this, as you know. You have been in these battles, where now they are saying you know, we dont really need to spend any more money now. We spent trillions just goosing the economy. You properly pointed out trillions more on the Federal Reserve to keep it doing its thing. Been there, done that. Gone deep into debt doing that. No more. What do you say to that . I certainly understand the question. We are borrowing a lot of money. The question is counterfactual. We still have real risks in the economy. I dont think of what we have done so far as being stimulus. I think it has really been just to keep the economy on life support while we have a pandemicrelated shutdown. That shutdown is now alleviating itself and we do need some money to help restart the economy. I think we will need some, not nearly as much as in the house bill, but i still think we should consider some. I definitely agree with the president on that. Neil glenn hubbard, always a pleasure. Be safe, be healthy, be well. Former bush economic adviser, much more than that. Hes a walking encyclopedia as is Charles Payne. Hes a modest guy but i got to tell you something, throughout these tough days with the virus and even through the protests, charles is optimistic about our countrys future. Hes very optimistic even in the notion we could have a sharp recovery. I always said he was nuts. Then lo and behold we get data like this, proves that he wasnt nuts, i was. I first saw, charles, touche to you on that, now i want to ask you about where this job data is taking us and do you buy it that it is the start of a real pronounced turnaround . Because you probably heard these reports i alluded to saying oh, just wait until you get the july numbers, wait until you get the august numbers. You heard all that. What do you think . Charles yeah. Yeah. You know, i think it could be start of a pronounced recovery in the economy and i agree a lot with what your prior guest was saying. You know, the market was telling us this the whole time, that maybe the worst part of this wasnt as bad as we thought it was and maybe the rebound was better than we thought it was. You know, i think the economists and most of wall street fell in love with a certain narrative and that being said, though, a lot of it will depend, i do believe and i know its politically incorrect in conservative orthodox circles to say that the president probably should try to push through another package and again, there is a difference between a quote unquote, relief package and a quote unquote, stimulus package. Go back to february and were still looking at 21. 5 million more people were employed in february than now. Participation, six million for people were in the jobs market than there are right now. So even though you have these other, you know, things out there, we still have a ways to go and i think if theres one more effort, federal government effort, i believe it will also unleash a 6. 15 trillion that households are sitting on, again, a record amount of money, if people have the confidence to spend it, then weve really got a super v coming. Neil charles, the markets are kind of close to or at the levels they were at when we had 20 plus million more jobs which begs the question, have they gotten ahead of themselves . What do you think . Charles you know, whats interesting about the markets is the composition of this rally. As of yesterday, only 150 stocks in the s p were higher and they were only higher by an average of 13 . Conversely, the 350 names that were down were down by 20 . So its so odd, i think some of these tech names were obviously overbought. I can go down the list of covid19 lockdown winners that are down today from peloton to zoom to wayfair to docusign, all the sizzling hot stocks that were up 90 , 100 , 200 , they are certainly coming down. Some of the tech names are coming down. I think weve got rotation. I hear where youre coming from but remember also, it wasnt that we were at a certain level in february. The underlying Economic Data in february was still sizzling. I think the market is sensing we can get back to pick up on that before the year is over, not having to wait until deep 2021. Neil you know, i wanted to tap another side of your brain. What a lot of people dont realize is how passionate you are about, you know, Economic Opportunities for all and im wondering in this protest environment we see now the better part of what, now a week and a half since the tragic death of george floyd, in minneapolis in particular, charles, as you probably heard, yesterday it was the Minneapolis School system that wanted to disassociate itself from the Police Department. Today a few Council Members are toying with the idea. I dont know how you disassociate with police. You are still, when push comes to shove and you need a cop, you just not going to call them . But i wonder how you feel about that and this delicate balance, particularly in the africanamerican community, toward understanding law and order and thinking that it doesnt apply and fair treatment doesnt apply to them. You know, neil, i talked a lot about this particularly recently with stopandfrisk. I was very passionate about that on this network, on fox news, and i think a lot of people who dont understand living in an environment where you are targeted because of your race, you know, when people are asking, when Law Enforcement is asking you for your papers, i really believe the whole world, all civilized world had given that up in 1945. I thought we said never again would people be targeted, asked for their papers, or harassed simply because of their race. Having said that, also growing up in harlem, i can tell you one thing. We were, we were always at de facto war with the police but were always upset when they got there late. The notion of underfunding or defunding Law Enforcement is absolutely nuts. Listen, theres a lot of room for reform. I have always believed in community policing. I think they should live near or closer to their communities. I think theres ways of branching out, having liaisons to make it better. The bad guy in my neighborhood, i want the cops to get that person but by the same token, we need reform when it comes to sentencing so i dont want to watch someone stab someone, almost kill them, and get six months. Because im not going to turn that person in. No one on the blocks going to turn that person in. Instead we are going to be terrified every single day and we wish that person was the one getting stopped and frisked, not our nephew on his way to college or night school. So theres a lot of room to fix all of this, but this whole crazy notion and by the way, its been coming for a decade thshgs w, this war against the police has been seeded and watered for over a decade, i have seen it coming for over a decade but its so farfetched and asinine and the people who will get hurt worst are the most vulnerable in the lower economic rungs of this country. Neil youre the best, my friend. You really get it. Charles payne, you will see him in about 14 minutes. Love his passion. More after this. Introducing new voltaren arthritis pain gel, the first and only full prescription strength nonsteroidal antiinflammatory gel available overthecounter. New voltaren is powerful arthritis pain relief in a gel. Voltaren. The joy of movement. Sprinting past every leak in our softest, smoothest fabric. Shes confident, protected, her strength respected. Depend. The only thing stronger than us, is you. 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Neil we have been so focused on what has been happening right now in the markets that home sales, they are running away. Mortgage applications up north of 20 . That pentup demand is there. We are following that very very closely. Excuse my voice. The san diego mayor is continuing this slow opening up of his beautiful city here, with more Shoreline Park area, piers, boardwalks and the rest. Mayor, how is that process going . Neil, good to be back with you. Its going well. You know, as we continue to reopen here in san diego, what we have stressed all along is we are going to reopen safely, we are going to reopen in tandem with our Public Health officials, but were not going to go back and do things the way they used to be. Its all about the new normal and so far, i will tell you, when we look at the results that we have had here in san diego, how we really have flattened that curve, as we have reopened, not only our public spaces like our Neighborhood Parks and beaches, more of that even coming this weekend, but what we have done on restaurants, diningin restaurants, its working. That is something that i have advocated from the very beginning which is lets reopen, lets reopen safely, and when you give people clear rules of the road, they are going to follow them. Neil what are the rules, mayor . Like in balboa park, one of the most beautiful in this country, how do you maintain, i know its a huge park, but how do you handle distancing there . How do you even enforce it . Its a lot of communication. Again, its a lot of talking about hey, when youre going out to the park, when youre going out to the beaches, keep that sixfoot separation. You know, as we have seen on the beaches, as we reopen those up, people are getting it. They are doing it. This has been a phased process. One of the things that i have really tried to communicate all the time, i said we are doing a great job, lets keep it up, lets not give back those gains that we have made as a city and as a region, and that continues to allow us to do more and more. So as we have talked about before, look, our cities, we get our tax revenue, our dollars from a strong economy. So opening up that economy, opening up our local Small Businesses, doing it safely, and i cant tell you how many Small Business owners who have made the changes in store are doing it right, setting a great example. The customers are so glad to be back in, they understand the changes. And thats something that i think, a, its been glad to see across san diego, and i think other cities across the country. Neil hows it going with tourists . Obviously when they are not sure how fast you reopen, they consider booking but then think well, where does that stand now . Its been tough. Ill tell you, we are fortunate to have such a strong Tourism Industry in san diego and we have never had a couple of months like we have just gone through. We have had virtually no, zero, conventions. Hotel revenue, changing occupancy tax revenue, our Third Largest source of revenue in san diego. So obviously as we are going back through this process, we have asked the governor to allow us to expedite this in our san diego region because we are ready. But thats an important part of our economy. Tourism, hotels, hospitality, restaurants are now open, but weve got to be able to reopen safely because thats when we will really i think hit the economic turnaround that all of us have been looking for. Neil you have a beautiful city, as we have discussed. Im sure they will come back. It might take a little while but i have no doubt when they are back, a lot of them, if they are like me, they dont want to leave. Thank you. Well be ready. Thank you, neil. Neil all right. Very good. Thank you, mayor very very much. Stocks are surging on the notion that we are over the worst of this virus thing, over the worst of the restrictions, so better days are ahead. After this. Hey you, yeah you. I opened a sofi money account and it was the first time that i realized i could be earning interest back on my money. I just discovered sofi, and im an investor with a diversified portfolio. Who am i . i refinanced my Student Loans with sofi because of their low Interest Rates. Thanks sofi for helping us get our money right. Neil we were just talking about new york city businesses opening up slowly but surely and it starts maybe a little sooner than you think. Kristina partsinevelos following all of that. Kristina . Kristina you have this situation where the demonstrations across the country come at an anxious time, especially here in new york city, as virus restrictions start to ease amid months of lockdown. And businesses here have been devastated financially and some of them frankly quite literally, which is why you have this juxtaposition. You have businesses that are boarding up just all around me, all across the city, because of looters and vandalism, then you have other businesses simultaneously trying to reopen, hire back workers to start on monday morning. I spoke to one manhattan Business Owner who owns a liquor shop in chelsea. She said that her business dropped dramatically throughout the entire lockdown, even though shes an essential business. Listen in. Weve seen almost like a depression in this area, even for us. Its depressing. We have this beautiful vibrant store and people are just not walking in like they used no the past. Kristina to make matters worse, looters did target her store and stole thousands of dollars worth of merchandise. As we know, crowds have been gathering in droves for protests. Right now its estimated to be roughly 30,000 people here in new york state, specifically in new york city, 20,000 people which is why Governor Andrew Cuomo of new york has told all protesters to treat it as if you actually have covid and go get tested. So this adds another element for a lot of employers who start back up on monday, because people need to go out and get tested. You had get the green light, you just say you were at a protest and go to one of the 100 plus locations across the city. Adding further headaches to that monday phase one reopening here in new york, i will be out in the field covering it for you, neil. Back to you. Neil i look forward to that. Be safe in the meantime. Kristina partsinevelos following all of that. There are certainly some very industrious shop owners who have become creative, explaining the sudden job surge we did see in the month of may. Lets get the read of particularly whats going on in the latino community. Gary b. Smith, Fox News Contributor and my buddy, Jenna Caldwell taking a look at whats happening across the country. This notion that the improvements are real, palpable, and coming even now despite maybe even with the protests. What do you make of that . I think that its excellent that we saw some good numbers but we also got to keep in mind that there were people that were furloughed who might have been considered employed, there were individuals who had hours cut so thats something we got to also keep in mind. We saw some gains in the construction industry, i believe 464,000 jobs added, 1. 4 million in the Restaurant Industry. What we did not see is when the protesting started, when the looting started, which devastated a lot of communities. I think back to my home in los angeles, california. The block was decimated. The whole foods looted, cvs looted, a number of Different Stores throughout our country looted, destroyed, set on fire in chicago. Now, whats going to happen when it comes to those jobs . Who is going to be able to return to those particular stores and industries . Especially considering the fact that we had such a bad time when it comes to covid and how so many businesses had to stop what they were doing in order to protect people, now you have a situation where they are even more devastated. How are they going to be able to recover . Thats the question a lot of people will be asking. Neil its a very good question. Indeed they are asking it. Lilly, i was talking to one minority shop owner in minneapolis the other day who said even with some help from the state and maybe even the federal government, it wont come close to, you know, rebuilding a shop that was decimated and destroyed. She might be giving up as a result. Im sure that plays out a lot of places. It does. Im glad you are pointing out that minorityowned businesses which actually before the pandemic were driving 100 of new business creation in america, but are disproportionately affected. The reason why is because a lot of minorities have their businesses concentrated in the industries that ironically are the most impacted by the pandemic. So we have yet to see how this upswing of new jobs we are seeing in the report today is really impacting those restaurant owners, construction companies, et cetera, that tend to be blackowned or latino owned businesses and thats important for everyones economy, because those were the job creator and the ones driving growth prior to the pandemic. I want to see those numbers through that lens. Neil gary b. , we are talking about the markets that are kind of back in the territory they were in february, certainly the nasdaq and nasdaq 100 both at records, the dow and s p not that far but we have 20 million jobs fewer than we did then. Im wondering if thats a sign we have a lot of jobs to catch up or the market has to fall back down because its gotten ahead of itself. What do you say . I would like to think it was the former, that we have a lot of jobs to catch up. I think what this rally and the market showed was that the bigger companies, not the smaller ones, the bigger ones are really driving the market and they were buffered from a lot of the hits. The amazons, the walmarts, if you will, they still kept chugging away. Of course, they make up a big part not only of the market but the market cap. So per lilis point, i agree with her on the new job creation in the Small Businesses but the majority of the jobs are with Big Companies and those were the ones buffered. A boeing could withstand a shutdown, partial shutdown, even orders drying up, while your mom and pop bodega cannot. Look, i sympathize with that. I think as long as we can cokee the big infrastructure intact, by that i mean the Big Companies, they will drag along the smaller companies. Disney, for example, here in florida is going to open july 12th. Thats going to help a lot of Small Businesses that hang on to disney and rely on disney to grow. So once disney opens up, i think you will see a general uplift in jobs and the smaller businesses. Neil you have spoken very eloquently, very quick question, i do want to get your thoughts on it, too, lili. You have written eloquently about africanamericans, particularly young africanamericans, where they are in this economy, and the mayor of washington, d. C. Once again was urging the president today, you know what, the National Guard, military, all that stuff youre talking about, its just going to add to the anxiety and friction here. Shes already eased up on a lot of, you know, the curfews that have been in effect, hoping the folks themselves there of all races will calm down, that peace marches will continue but not the violent ones and the troops are just going to agitate that. What do you think of that . You know, i can normally understand that but were in a time that we have never seen really ostensibly in our history where all race groups are coming together in protest against racism, Police Brutality and people want to see police accountability. Those are all great things. But we got groups that are agitators like antifa and other groups who infiltrated these protests and these folks need to be stopped. So absolutely, i support law and order. I support President Trump saying hey, call up the National Guard. Just like when we have seen a bunch of shootings in the city of chicago, which is where im from, and sometimes when its out of control and city officials cant handle it, you need to bring in another force thats going to at least keep the peace. Now as we are seeing protests are a whole lot more peaceful, we can probably pull back on the National Guard but we needed to see a stop to destruction. We absolutely had to. Neil lili . Yes. I wanted to build on what we were saying before with disney opening and the impact of big corporations on the smaller businesses. Theres a compounding effect where Corporate Leaders need to understand that they can impact, bridging the economic gap right now for smaller businesses like mine. There are are diversity programs that can hire and have contracts with minority owned, women owned, black owned businesses and this is the time. Just as we are watching the injustice out in the cities, there are boardrooms that also need the look inside and see am i hiring, am i giving contracts, am i supporting the black and minority communities that we know are going to need help right now, not because we just want a handout but because we are critical to everyones economy. I think we need to look at the big picture. There is nothing that will justify destroying businesses out in the streets. We need to bring the right type of policing back and respect it, but at the same time, corporate decisions need to go beyond putting a box on instagram but make decisions that are sustainable for the greater economy and the greater america. Neil gary b. , final thoughts on that . Well, look, its hard to disagree with what lili says. I will end with this final thought. As i was the last time i was with you, neil, im optimistic. It just, between the virus and the protests it looks like are we ever going to get out of this, but i can feel and see the pentup demand. Getting back to disney, the first day they said they were opening, you could not get on their website to make a reservation. Same thing with cruise lines. People are ready to go and as soon as like new york, i know where you are, they go to phase one, i think you will see a bigger surge in business than you would have thought. Neil i dont need to be incentivized to go to restaurants. No comment. Neil no comment is right, young man. Thank you, guys, all very very much. You all bring hopeful perspective on all of this. We are also looking at what the president was looking at when it came to this request on the part of the washington, d. C. Mayor, get the National Guard out of here. Hes arguing that in a lot of key places including minnesota, the epicenter of all this, the National Guard has helped. It hasnt hurt. After this. Im greg, im 68 years old. I do motivational speaking in addition to the substitute teaching. I honestly feel that thats my calling to give back to younger people. I think most adults will start realizing that they dont recall things as quickly as they used to or they dont remember things as vividly as they once did. Ive been taking prevagen for about three years now. People say to me periodically, man, youve got a memory like an elephant. Its really, really helped me tremendously. Prevagen. Healthier brain. Better life. They also use our National Guard, call me, well be ready for them so fast their heads will spin. We did it in minnesota, in minneapolis, we were incredible. They were ripping that place apart. I love it. We had such success there. And they were ripping it apart and i called the governor and the National Guard went in and one night, it was over. You dont see the problem in minnesota now at all. Neil all right. The president defending of course the use of National Guard, even military figures when called for. The mayor of washington, d. C. Says they just add to some of the anxiety there. She would prefer they not be there. Shes not antiguard, she just doesnt think theyre necessary, will only make things more volatile. This in a busy week with the president where shes been secondguess order thed on this no less than his defense secretary who says when it comes to instating the insurrection act to give the president the power to bring troops to volatile scenes, he doesnt think that would be wise, especially now. Neither does jim mattis, his former defense secretary who raised serious questions about the president dividing the country and putting our troops in an odd position of policing american citizens. Something he says is a bad idea. Rob oneill is former gop member, former navy s. E. A. L. , killed Osama Bin Laden. Always good to have you. What do you think of what the president is saying on this, what a lot of top military types are also saying on this, be careful what you wish for, mr. President , you just might get it. Well, neil, as always, its good to talk to you. I would much rather be in the studio but unfortunately, we cant do so right now. You know, i think this is one of those points where people need to take a step back and realize the kneejerk reaction of a lot of things isnt quite necessary and its not one person that is going to run the show. You need a group to run the show, to run a village and theres a big difference between saying the National Guard needs to step in and saying the u. S. Military need to step in. If the National Guard comes in, thats what they are designed for. They are designed to take care of just securing the area, not to doing point targets and trying to shoot people. If the military comes in, that potentially was a misspeaking by the president , thats called martial law. We dont need that. The National Guard comes in when places like minneapolis start burning to the ground because people take advantage of protest Peaceful Protesters and start becoming violent looters. Thats when the National Guard needs to come in to assist with local Law Enforcement just to keep the peace. Theyre coming in to subvert people, just to stop them from hurting honest Business Owners businesses. Thats all it is. I think the president misspoke when he said we will bring in the military. The active duty military, their job is not to come in here and do that stuff. Its just a problem when a lot of these retired military come in and simply because they have an issue with the president of the United States and they start trying to just widen the division thats going on in this country. Its not necessary right now. Thats what i think about with general mattis is doing, what general kelly is doing. I respect them all, though, but there comes a time to pipe down. Neil so i guess what theyre saying is that the president doesnt pipe down, that his rhetoric is divisive, that his language is coarse and that at times like these, we dont need that. Now, obviously mattis hit a nerve with the president where he criticized and said he wasnt that great a general and all that, but back and forth, what do you make of it . The backandforth i completely disagree with. Even though they parted on different terms, general kelly, general mattis, President Trump, there comes a time to talk behind closed doors. The last thing we need is a lot of the liberal media who are trying to cause anarchy getting a piece of it. Someone like general mattis comes in. With all due respect, i respect him, hes a fourstar general, all high and mighty, like hey, general, we havent really won a war under a fourstar generals guidance since eisenhower. Maybe we are not as cool as we think we are. Neil wow. All right. Well, seeing that you took out Osama Bin Laden i guess you are free to say pretty much anything you want. Thank you very very much. [ inaudible ] was under the guidance of some great fourstar generals and admirals. Like i said, i have respect for all of them but when they are purposely, i dont know which side theyre on, i dont really care because at some point you are all political appointees but when you are purposely trying in front of closed doors to divide the country at a time when we really dont need it instead of uniting, i take issue with them. Again, i have nothing but respect for general mattis. Love them both. I love trump and i love mattis. But sometimes its time to knock it off. Neil yeah. I hear it. I would have asked even tougher questions but im afraid you will come back and beat me up so i dont want that. Rob oneill, always good seeing you. Be safe, be healthy, be well. Rob oneill. He is the genuine article. More after this. Introducing new voltaren arthritis pain gel, the first and only full prescription strength nonsteroidal antiinflammatory gel available overthecounter. New voltaren is powerful arthritis pain relief in a gel. Voltaren. The joy of movement. New voltaren is powerful the xfinity voice remote a gel. Will find exactly that. For, happy stuff. The groups happy, im happy. You can even say a famous movie quote and it will know the right movie. Circle of trust, greg. Relax, the needles are jumping. You can learn something new any time. Education. And if youre not sure what youre looking for, say. Surprise me. Just ask what can i say to find more of what you love with the xinity voice remote. Neil all right. Youve got problems when elon musk is questioning what youre doing. Amazon finding out the hard way the controversy over a book on the coronavirus pandemic that amazon didnt seem to have raised now. I barely understand it. I know susan li does. Whats going on . Susan okay. Dont you love it when billionaires battle . Thats exactly what happened yesterday. This is after amazons selfpublishing arm, kindle direct, rejected author Alex Berensons new book unreported truths about covid19 and the lockdowns. That happened. While elon musk leapt to his defense on twitter, tweeting at jeff bezos saying this is insane and then taking it further by tweeting that maybe its time to break up amazon, monopolies are wrong, exclamation point. Amazon getting back to us, saying the book was removed in error and its now available for sale. We have notified the author, so the author himself, alex berenson, appeared on fox news last night suggesting that if he didnt have a powerful voice in his corner, maybe his book may not have been restored. Theyve said publicly but not to me that they made a mistachlt you know, people can judge that for themselves but i think the mistake they made was picking on somebody or trying to censor somebody who happened to have a big enough megaphone to shout back. Susan we know elon musk has a large megaphone but elon and jeff bezos havent always seen eyetoeye. They compete in a number of different businesses. Bezos is much richer than elon musk, worth around 148. Musk, nothing to shrug at, worth 40 billion or so but they compete when it comes to electric cars. We know elon musk runs tesla and also space, as jeff has blue origin, elon musk of course has spacex. Its not just musk who contends that maybe amazons a little too big. For instance, they oversee about 50 of the ecommerce market. President trump has said that maybe theres a bit of antitrust there. We know amazon has caught the ire of Bernie Sanders and also elizabeth warren, but isnt it interesting, neil, though, that you know, on monday, we had musk saying hes going to take a break from twitter. All that ended in three days, i think less than three days time, that break. From twitter. Neil yeah. I wonder if the battle between the billionaires, if bezos and musk go at it, like you said, bezos is obviously much richer but musk can say i dont know if i told you but i have been to space. All right. Ive got astronauts up there. Okay. Thank you very much, susan li. A lot more coming up. The dow sprinting ahead over 900 points. We are close to record territory here for all the averages. A couple of them, not that far. After this. In neighborhoods across the country, youll see gratitude. Communities showing support in their own way. Our way is massmutual healthbridge,. Nt lines, thank you. [shouting] [clapping and shouting] [cymbals clanging] [knocking] room for seven. And much, much more. The firstever glb. Get 0 apr financing up to 36 months on most models, and 90day firstpayment deferral on any model. Neil all right, this is one for the would have could have should have department here remember when all the leisure related Airlines Travel stocks were getting decimated some tumbled into singledigits look at whats happening with the likes of trip advisor, expedia, all of the Airline Stocks that have come storming back really on the notion that people will be traveling again and getting out again and having fun again, wall street saw that, Charles Payne saw that, told you about it. Here he is. Hey charles. Charles hey neil thank you very much have a great weekend my friend and good afternoon, everyone. Im Charles Payne and this is making money, and in fact breaking right now the market is rallying big time aftershocking jobs report, showing 10. 5 million americans gained employment versus the wall street consensus of 8 million losing jobs. Of course the market ended on a positive surprise for a couple of weeks and President Trump shared his continued optimism in the rose garden. President trump this is better, this is a rocket ship charles the narrative shifted from testing the lowso