Woke hypocrisy . That and much more on making money. Charles all right, folks here is what i think are three main reasons for todays steep sell i dont have. Stocks got too expensive, short term, bottom line. Last week we saw the stock market put it in the best 50day rally in it history. Guess what . It only got stronger. It got parabolic. That is chance that weve seen best 60 days ever and pullback was way overdue. Second, the Federal Reserve refused to lay out concrete ideas how they provide extra hope to prolong the recovery. Wall street wanted more about bending that yield curve. Third, investors are waiting to see how much cash begins to circulate in it economy. I want to bring in two of my favorites, wallser, rebecca wallser and keith fitzgerald, principle his group. Keith, before you start, from march 23rd to the peak this week, s p was up 45 , dow up 47 and nasdaq up 46 . I like to remind people occasionally markets go down. Thats the thing. They stink. Theyre uncomfortable. Its scary but theyre absolutely normal, the markets are more disciplined over time, not at moments in time which is what we have today. Charles rebecca, your thoughts . Yeah. I totally agree, charles. I think the Federal Reserve was aggressive and acted very strong at first. Investors maybe got a little bit irrational exuberance, we started reopening things are going to be fine. We overbought really fast. We got a little too high and pricey. Pullback because of various factors i think. Charles rebecca, you mentioned the Federal Reserve. I listened to a lot of commentators. I didnt agree with anyone of them. I think jay powell gave wall street what they wanted, more clarity. With respect to negative Interest Rates or capping yield curves. Wall street, they wanted more. Lets face it, they like that fed medicine, and you pointed out, jay powell was extremely decisive. He did not wait. Now it feels like he kind of spiked the ball yesterday and is willing to wait despite their own dire economic forecasts . Right. Charles, but we cant have the fed spending 2 trillion in a couple months every time we have problem. He needed to set expectations. Not allow people to think the fed would totally be there at any sign of a second wave or anything. I actually am glad that he was, i agree with you. I think he gave them what we should have gotten and the market overreacting a little bit this morning, is because of the fact they will not have a sugar high from the fed anytime soon. Theyre starting to have a stomach ache. Charles so, keith, if the fed is not keep feeding us that sugar, where do we get the next catalyst . How much danger is this monster rally in . Well, i tell you what, frankly i dont think it is in a lot of danger because the computers are driving it. It is all about psychology. As soon as the narrative shifts back to the upside, it is going like a rocket again. As an investor that is actually part of the process, something im looking forward to. What people dont really like about days like this, charles, they dont know what to do, how to handle it. Theyre caught unprepared. If youre a savvy investor, invested in the best companies you take days like this in stride. Charles rebecca, to that point, i think also not just people, but the financial media, i know the narrative all day was covid cases were spiking. I put together a lot of work. I didnt get a chance to triple check it. But offthecuff, the last sucks days that we saw spike greater than yesterdays spike, everyone much those days, the next day the market was up. So, i think thats a disingenuous, 20 states see covid19 up. Well that means 30 see it down. But were always grappling for a reason when sometimes it is just, what it its, no . Yeah. Charles, exactly. Youre 100 right. I want to urge caution here before we start panic about a second wave. Were also doing a lot more testing. So i dont see that there is any frame of reference, when we talk about these spikes, where is the frame of reference . Were doing 50 more testing, 25 more testing. We expect more tests results to show positive when youre testing more people and a virus spread across the globe. So lets get some point of reference. Calm down, take a breath. Everyone just, i will not see, i do not see, i will go on record, i do not see a fall wave that is a panic that will happen. I dont see it and markets will not see it either. Charles keith, youre talking about owning good stocks, these days how do people know . Listen, because good stocks can be overbought and bad stocks can be oversold. We saw a lot of companies that saw one hundred rebound, yet, whether cruise lines or airlines, some people thought maybe it was just too much too soon . Well, you know, a lot of people think las vegas is too much too soon. I dont mean the reopening. I mean gambling in general. So, to me this is a very simple process. You dont change behavior sim by because the market surgeons on you. If you have Quality Companies with a clear path to profit, the management savvy and mentality needed to implement it, you know what . Those are the kind of companies you want to prioritize. Days like today when they get put down on sale, that is when you make your move. In five years you will be kicking yourself in the you know what if you dont own them. Charles you might be kicking yourself in five days. Thats right. Rebecca, looking not necessarily buying but refining your buy list right now . I think its a great time. I totally agree it is a great time to say, hey, i missed out on the last dip of this stock. Say apple. It was 253. I missed out on that opportunity. Let me jump back in and these are discounted prices. I totally agree. Buy back in when the market is low. Enjoy this, enjoy it. Charles investors always say that to themselves. If i ever get a chance, on day like today, im too scared. Dont be afraid folks. You have rebeck canned a keith guiding you. Both of you fantastic. See you real soon. Thanks, charles. Charles i want to bring in one of my favorites, if not my favorite economist, brian wesbury, First Trust Advisors chief economist. Brian, despite bounce of unemployment and there are 20 million americans not getting hours they want. Heard secretary steve mnuchin. He keeps saying he wants to focus on domestic industries. Those stocks are bouncing around like crazy, hotels, travel, airlines, entertainment and i know President Trump talked about somehow getting a staycation, tax break credits. Is that one idea to go, to sort of reinvigorate the heartland of america itself . Well, you know, charles, in the middle of this, it is all about reopening. If we, if we only let restaurants open with 25 or 50 or, you have to sit six feet apart at the blackjack table, or only stay in every other hotel room it will be really hard to get this economy back. There is no amount of money, there is no amount of fed Interest Rate cuts or that will fix that we have to open it up. Having said that, if we want a robust recovery thats more than just reopening, we should look at tax cuts, because thats the way you get capital attracted to investments. There are Small Businesses and restaurants that wont reopen. So how do you generate the enuse a from investors to reopen things that have closed . Give them tax breaks. So i sure hope that we look at that in this, you know, number four stimulus or whatever we want to call it. Charles the cares act four i think. What about the tax breaks, slash credits to the individual who takes vacation at six flags in america . If we can actually give tax credits into the business community, i think they can end up not having to raise their prices. You know, im really charles okay. We have never done anything like this. If you can only have 50 occupancy in your restaurant, what are you going to do with your prices . How do you make a profit in that kind of world . So, yeah, you know, look, im for payroll tax cuts. Im for individual income tax cuts. Im for more Corporate Tax cuts. Im for capital gains. I have never seen a tax cut i dont like and especially from this when we have to climb out of such a deep hole. Charles right. You talked about pouring all of this money into the economy, you know i said for a long time americans came out of that great recession, their spending habits have never been the same. They have been shellshocked. The result of plugging of circulation of money. I think it is crushing main street. Think about this, americans, savings rate 33 , 6 trillion. Some comes back into the economy as these States Reopen but whats the trick to get what they call the velocity of money which has not come back since the last recession. Right. Charles when i buy something, i take the money across the street and they buy something with the. Is it part and parcel of us being afraid, scared or is this the internet age where we dont spend money on main street, we send it into the ether. We do a lot of that, charles. This is fascinating to look at Monetary Policy these days, after the great recession, from 2008 to 2015 when we did quantitative easing, youre absolutely right. That money did not go into the economy. It went into the excess reserves in the banking system. Today, this is fascinating to me, because in the last three months the money supply, m2, all deposits and all the transactions happening, it is up 86 , 86 at an annualized rate. I have never seen a money number like that in my whole career. Charles wow. So i, i think this money at this time is getting into the economy. Now im not going to say it is going to cause hyperinflation because there is too many forces supply and demand going back and forth. Charles sure. But when you have that kind of money, it eventually boosts Economic Growth and inflation. However, if you dont let the economy open up, it is just, it just gets stuck in the system. Youre absolutely right. It is all charles a moot point. It doesnt increase, yeah. Right. I got to tell you, its a shocking chart to watch and look at. We need to get that money circulating so that we all have a chance at greater prosperity. Brian, thank you very much for walking us through that we really appreciate it. Thanks, charles. Charles sure you heard the news by now, nascar banning the Confederate Flag from its races as we hear about President Trumps plan to address racial inequality. President s attorney, jenna ellis will be with us next. I told you on tuesday, that slew of Companies Follow ibm on facial recognition. It is happening. Amazon, microsoft, making announcements. Coming up at 2 20 why i think this is another example of silicon convalleys hypocrisy. There are people who say things arent made here anymore. Those people should make a trip to michigan. Or kentucky. Or illinois. Where youll find our workers and dealers and engineers and technicians. Building for america. Were proud to employ more hourly workers than any other automaker in this country. Because we build for this country. The xfinity voice remote will find exactly that. For, happy stuff. If the groups happy, im happy. You can even say a famous movie quote and it will know the right movie. Thatll do, donkey youre expecting prince charming . 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 xfinity voice remote. And now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles protests for black equality is shifting to cleansing america of confederate history. Statues honoring confederate leaders are being ripped down nationwide. Meanwhile nascar banning flags, the Confederate Flag from all forms of racing. It feels like this among part of the growing support to help end racism in this country, but is their argument for the need to remember history as well . Joining me to discuss attorney for President Trump jenna ellis. I mean, jenna, were seeing it, some incredible images out there from these statues being toppled. Then of course the nascar announcement which might have been unthinkable two or three years ago. You know, this isnt a new conversation, charles and yet the left is pretending that it is. The left is trying to erase American History where conservatives want to remember and learn from our past. So the left is pretending we have never grown from our mistakes while President Trump and conservatives recognize while america doesnt have a perfect past, we out of every nation in World History have the best opportunity for a perfect future because our Founding Fathers recognized that our rights come from god, our creator and they provided a system of government within our u. S. Constitution that allows us to create a more Perfect Union and weve done that through the reconstruction era, that codified and recognized rights for black americans not to be enslaved, protected the vote and made sure for equal protection. I would add, charles, it wasnt until 50 years later we amended our constitution to provide that same equality and protection for women. Im greatful for the 19th amendment, right . As a woman, i recognize and champion that history and i want to move forward. Im so grateful to serve a president who recognizes my accomplishments and recognizes accomplishments of all americans regardless of our immutable characteristics that we are all together as americans and he is truly a president for all americans. Charles right. We need to move forward, rather than erase our past. Charles you know, i think some people believe that is part of moving forward. Certainly ripping them down without public forum, and those kind of things is not how we typically do things in this country. But having said that, we know President Trump is expected to address Police Reform and racism. He is meeting with black faith leaders and Small Businesses and as well as Law Enforcement in dallas in just about an hour. We know about the First Step Act which has been phenomenal, certainly underreported in the media where a lot of black folks who have gotten out of jail, given a Second Chance at life doing extraordinarily well. Any other ideas or thoughts where President Trump might be ready to do in terms of really even doing more . Well you know the white house is going to release hopefully in the next coming days those measures that they have been working on very hard and i know that President Trump is very concerned about this. He has had Kayleigh Mcenany talked about that yesterday. He definitely has been focused on this the last 10 days. I think well see that coming out of the white house very soon. Also, he is always a president , if we look back over his presidency and his administration, he has a wonderful, unique ability to bring together americans in unity. I think were going to see that especially with the Campaign Rallies starting and how he is truly the president for all americans and providing that opportunity and that American Dream to give power back to the people, to give more freedom and liberty. Charles right. And were going to see i think that unifying message that only President Trump can deliver. Charles right now the country needs it more than it has in a long time. To your point, you know, saving hb, saving historically black colleges, the First Step Act, just the overall economy, those all helped. I think he has got an amazing opportunity to do even more. So im looking forward to it. Thank you, so much, jenna, i always appreciate having you on. Thank you, too, so much, charles. Charles okay. Folks, amazon theyre getting out of the facial recognition business at least when it comes to police, proving that Silicon Valley is the quick to be arbiters of truth but not always living by their own example. Epidemiologists are sharing when they expect to fly, go to concerts, hug someone else without fear. Tell me what activity can you not wait to do . I want to hug my grandkids. Tweet me cvpayne. Well be right back. Charles deeds versus action. Apple announcing today that theyre donating a billion dollars to racial equality and justice initiative. Microsoft though also joining ibm and amazon not selling police facialrecognition technology. They say in order to make sure that it is not used irresponsibly. Now, all just part and parcel of the last two weeks seen Corporate America go on combination of charmed offensive and apology tour. Initially financial pledges were so small many said it was actually an example of real csuite indifference. Adidas was immediately taken to the woodshed offering 20 million four years to the black community. So in 24 hours management upped it to 120 million. The response of Silicon Valley is most pitiful. The Richest Companies in the world began posting diversity employment stats in 2014. They said they wanted to held accountable well their hiring of black workers and lack of upward mobility. It hasnt changed. It has gotten worse. The worse response probably in the last couple of days to all the initiatives to donate money come from one of my business heroes. Marc andreessen, you remember he developed mosaic, he founded netscape. He went on to become one of the biggest Venture Capitalists in the entire world. His firm pledged 2. 2 billion to founders of tech projection. The amount is so low, are people opening up laundromats . Two Million Dollars . They somehow think they exist on higher moral ground and it is their job to keep everyone else in line. I guess this means the nine large swaths of nations real chance at success particularly in the hottest areas of growth. Were going to have more on that coming up but right now as states and economy continue to reopen many are wondering what well get back to normal life. Cheryl casone joins us with a look what epidemiologists are expected to do things like open the mail, bring it in the house, rather, even hug a friend. Cheryl . Reporter president interesting to listen to the expert what is do they say, right . New york times surveyed 511 virus experts to see when they would feel comfortable get bag being to normal life. Many are comfortable going to the doctor, being in small groups but until there is a vaccine they seem to dig in their heels on other things. The survey asked them summer, next few months, a year or more for certain activities. As for comfort to start activity this is summer, 64 say they feel okay bringing in the mail without precautions. 60 see a doctor for nonurgent appointments. That es okay. 56 would go on vacation overnight within driving distance. 41 would get a haircut at a salon or barbershop. With regard to hair salons, very important to me, by the way, most surveys think theyre relatively safe, not crowded and fairly high again i can. Some said the facetoface contact at salon still had them worried. 19 said they would wait a year for a haircut when there is hopefully a vaccine. That is what theyre thinking. Small dinner parties, picnics, riding a subway, that might be okay for this group three to 12 months . There is longerterm story here, a year or more, that is how long they wait to do these things. 42 will wait that long to attend a wedding or funeral or hug or shake hands with a friend. 41 also say they will wait a year at least to go out with someone they dont know that well. 52 say it will be at least a year before they get rid of that face covering. 64 , charles say they will wait a year to see a concert or play. That is pretty wild. I will leave you with this. How do consumers feel . The regular folks who contribute to 70 of the economy, 35 say they are ready to eat out, 32 say they will go on a vacation. 31 will go shopping to a mall. Hopefully these numbers increase over the summer, really at the end of the day it is about consumer driven economy, charles. Some of us are not waiting that long to go to a salon to get their hair done. Back to you. Charles [laughter]. I got it. I read you loud and clear, cheryl. All right. For more on this, i want to bring in wall street journal opinion writer jillian melchior. Are these epidemiologists scaredycats . What is going on . , these numbers are shocking something were dealing with, something we dont have as complete information we would like about. So it is difficult to determine what the risks are. We know that they vary at times based on age, based on gender, based on preexisting conditions. Second, these epidemiologists like americans are trying to make their own risk assessment. It is one extreme to shut the entire economy down, stay hide under your bed until we find extreme, but it is also extreme to say well continue without precautions. Where people fall in between those two extremes, that is the challenge. Charles although, you know, as far as the economy is concerned, you know, you have, for instance, ride a subway or a bush, 39 will wait a year or more. Average american really probably who lives in these big cities wont have that option . That may be a rational decision for somebody 65, 70 years old, has multiple preexisting decision, maybe a less rational option for someone 20 years old, in good health. We have to enable the American Public to make their own choices about what level of risk theyre willing to take. I think the federal government could be really helpful as a clearinghouse on this. Start publishing some of the data. About some data what the relative risks are. Charles okay. So i got you there. You know, listen, i think im being bombarded with data and questions and im looking at our government, im looking at italys government, im looking at the swedish experiment. Japan keeps taking a victory lap. For me im dizzy. I think i will hug a relative before a year from now. Im just going to take a shot. Ill going to do it. I will hug one of my grandkids, real soon, maybe next time i see him. One thing to say we can do a risk analysis there, is human nature and there is needs that we have to keep living and to keep moving forward and to keep the economy going. Yeah. I mean i think ultimately a lot of is going to have to come down to personal choices. I mean the government can provide good information, it can provide good guidance but i fear places like michigan where there have been draconian requirements during the lockdown, things that didnt seem to make sense, can go out on a canoe but not a mother boat, that erodes public credibility. They dont believe it its also a tragedy what weve seen with the World Health Organization being coopted by the chinese government. It is no longer credible in a lot of ways. I think this is a problem. I ultimately think americans need to look at data, science, incomplete as it is, make their own choices. [inaudible]. Charles well i got a feeling youre not, youre not afraid to do any of these things on this list. Im just saying, i know you. Youre adventurous. I think you will do these long before the epidemiologists. Jillian, thank you very much. Thank you. Charles hey, folks i want to get back to my critique if you will of Silicon Valley and their ongoing hypocrisy and bring in from Carnegie Mellon university, vivek wadhwa. Saw ibm. Told my team. Everyone will follow, because the police are easy target. Dont look at us, look at them. Well not give them facial recognition. This has been a beef particularly in the black community for three years,owsilg religion. After offering paltry amounts of money to these causes, after no upward mobility for the very few black workers they have in the first place. I find it, it makes me angry to be quite frank with you. You know ive been yelling about this for many years as well. This is a white boys cluck primarily in Venture Capital field and. Neil the largest Venture Capital firm over here, horowitz, really made a big joke of this whole thing by announcing a 2. 2 million fund to fund black entrepreneurs. They took billions of dollars braindead companies, photo sharing apps. 2. 2 million like you going to a homeless person offering him a dollar, here, im being generous to you. This is ridiculous. Charles yeah. To your point, Silicon Valley, the Venture Capitalists say were going to lose money on him everything we do. It is all about the home runs. They pour billions into things that end up being worthless. 2. 2 million, i mean, what is he thinking . That black people will open up laundromats for that . Where are you going to start with that in Silicon Valley . You cant open up a laundromat in Silicon Valley for 2 million. Singlefamily houses cost 2 million. They should put in a billion dollars if theyre serious. They have that kind of money. These people are making fun. They pretend to care. They dont care. Its a boys club, it leaves out everyone. It is also hispanics. Also women. Again this is something weve been complaining about for a long time. Now they seem to jump on the bandwagon, saying they care about black lives. They dont care. This is nonsense. Charles what could they do . Is there something that they could do would be genuine that could actually lift people up . Im not talking about writing checks, maybe helping to educate larger swaths of the population so they can get jobs and have upward mobility . There are many things that Silicon Valley could be doing. Yes exactly what you said. We could be educating the people who are left out. We could be, you know, Silicon Valley could have hiring targets. Seriously try to meet them. Right now apple claims to have 7, 8, 9 black employees but there is a low level workers. The people working in the warehouses, not in their tech fields. They have almost no black executives. I mean Silicon Valley really, it has to abide by what it says. It has to lead by example and not simply, you know, preach to other people or show off that theyre doing things. Charles yeah. Americans of all stripes have complained about this, you know, that there are some amazing job opportunity there but theyre shutting out almost the entire country. Its a small club. Vivek, we appreciate you coming on all the time. Thank you. Anytime, my friend. Charles okay. Well, folks the market sinking after perhaps the best two months in history. So should you be buying the sharp pullback . And what is the message of this session . I will ask one of my favorite market watchers next. Charles all right, folks, the markets are lower across the board but ive been saying for a few days now we were due for a pullback. Ive been struggling for something to buy so todays selloff, you look at these things and you want to study them and because you want to focus your attention on the opportunities, right or the anomalies. Give you an example, russell and dow is down 6 . S p is down 5. 2 . Nasdaq is only off 4 1 2 . This seems to be saying there is still rotation back to growth, back to tech. Maybe that is where you want to be when the selling is over. Lets bring in point view Wealth Management david dietze get his take on the message to the markets and the selloff and where he sees opportunities. David, i was trying to find value. Value stuff took off like a rocket. They were up 20, 30 last 30 days, industrials, materials but theyre coming down quickly. How do you decide on a market . Because during the break i got three emails, what should i be buying and i will ask david. Charles, i get the fact stay at home plays, dominos pizzas, clorox, some of the secular tech things have hit brand new alltime highs but so many large areas of the market havent and theyre going to get a huge tailwind from Jerome Powell and Federal Reserve commitment to keep Interest Rates throw through 2022. Some i like are industrials. They are the heartbeat that make manufacturing go. The one i would like a cite today, charles, honeywell. Why honeywell . They announced a partnership with sap german softwaremaker, to operate warehouses from the cloud. There are all warehouses opening up to ecommerce and so forth. They need to be masterminded on a global basis and honeywell is in the think of that with sap. Charles right. That was 180 back in february. Now 154. Charles i love that you, you explain why you like that. Also it is not run of the mill name that everyone normally goes to. Industrials had a big run but they were led by airlines, for the most part. You know, the pullback, boeing in the airlines, are you concerned about that or just a case of these names getting too far too fast . It is really too far too fast. I mean, you know, as mr. Calhoun of boeing said the other day, there may be one airline that slips off the table but one thing you can count on is americas, indeed the whole world wants to get back into the air. They want to take trips to the west coast or go down to florida, whatever it is. So the demand for air travel is going to increase. So Companies Like boeing is extremely wellsituated because it doesnt matter where it is coming from, they will get orders. They have a backlog of nearly 5000 plants of the we saw it unfortunate crash in pakistan with airbus. The world does not just one plane manufacturer. Charles david, real quick, you mentioned the fed. I think the markets having a hissy fit today. I think they wanted more clarity on either negative rates or capping the yield curve. It sounded like powell said were kicking around ideas. Less decisive, maybe spiking the ball, taking a victory lap prematurely. Is this some of this wall street having a hissy fit . I think that is right. In fairness, i think Jerome Powell has the tools in his hip pocket, if necessary he will deploy them. What he wanted to do yesterday was two things. One is to jawbone wall street just a little bit down. We were up 45 . Charles he did. We were too far too fast. Second of course i think he wants to light a fire under washington. There is great infrastructure bill proposed by President Trump for one trillion. Three trillion by dems in the house to propose further stimulus. He thinks that is necessary. I donts it agree. Were not all perfect now. Do your work. Charles youre right, i do agree with that, he has been great pushing d. C. Not to get too complacent. Wall street is saying you dont get too complacent either. Thanks a lot, david. Great stuff my man. Honeywell. Were staying on markets as we head into the final hour of trading. Other than tesla nobody is buying electric cars but the industry is spending tens to hundreds of billions of dollars to force demand that doesnt exist . Will government try to force us to buy electric cars . Were talking about an offer you cant refuse. In this world where people are staying at home, many of lifes moments are being put on hold. At carvana, we understand that for some getting a car just cant wait. Thats why the new way to buy and sell a car is also the safer way. At carvana, you can do it all 100 online from home with a touchless delivery and pickup process to keep you safe. And for even Greater Peace of mind, all carvana cars come with a 7day return policy. So if you need to keep moving, its our goal to keep you safe. Check out carvana, the safer way to buy a car. Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Charles electric vehicle makers are supercharged on wall street but main street, well you would be hardpressed to find a whole lot of them on the road so where is the demand to match these skyhigh stock prices . Also, you know, investors are prepping for evs that the government mandates in the future . I mean it is just crazy. Whats happening here . I want to bring in the car coach, lauren fix. Lauren, here is my problem im reading last couple weeks. In europe they pushed through something to give 6,000, 6,000 euro to folks who buy ev. And the uk they are thinking about a cash for clunkers, 6,000 pounds if you turn in a car and get an electric vehicle. I read 140 about billion dollar factory retrofitting around the world for electric vehicles but the problem is i havent seen any demand for it . You are exactly correct. Cash for clunkers by the way is absolutely disaster. It was disaster here. It has been a disaster everywhere. Trying to force people to purchase electric cars because the government mandates it, never works when they mandate anything. I think one of the most important things the only reason manufacturers are making electric vehicles because theyre getting pressure from governments. There is not one car manufacturer on the planet, not tesla, anyone, who made a dollar of profit off electric vehicles. Why are the heck they are making them . Because the government is making them make them. Charles so, then there must be an implicit guarranty or promise from the government who is making this happen that the customer will show up. Now there is a carrot and stick thing. We get the carrot. 6,000 or pounds or euros, it is enticing it is attractive but what if i still say no . Right. Thats the big problem. There is infrastructure the egg or chicken kind of scenario. Is there infrastructure in your area . Does it make sense for your family, number one selling vehicle at least here in the United States is suvs and pickup trucks . You think who is offering 7500dollar tax credit, gm, tesla phased out of it. Nissan is getting there. Other manufacturers are trying to get in on this but consumers are not buying them. Less than 2 of the cars on the road are electric. No matter how low they make prices, consumers say this doesnt work for me. Gas prices are low. Why do we make these things . When you look at who is paying for all the charging stations . All of us are. So few people are taking it, whole United States, every citizen is paying gas tax, including gas taxes that go to pay for infrastructure were not using. Lauren, we have a couple breaking news items so i got to cut it short. I appreciate youre sharing that wisdom with me. I feel like it is confusing. I feel it is conspiracy im not typically a conspiracy guy. Thank you. Charles a whole lot of things have happened. Obviously the market was pricey. I dont think powell provided enough details on the next big monetary tool. The bottom line, it is creating a buying opportunity. So what you need to consider. Well discuss that next. Yyeah yeah hey, hey makes it beautiful. State of the Art Technology makes it brilliant. The lexus nx experience the crossover in its most visionary form. Experience amazing at your lexus dealer. And let me tell you something, rodeo. I wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan, like any other. Big difference is how you pay it back. Find out how reverse mortgages really work with aags free, noobligation reverse mortgage guide. 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Im proud to be a part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. So you can. Retire better. Charles well, the dow and s p 500 on pace for their worst day since april but all three indices are still up since march 23rd. Joining me with more on how investors can actually take advantage of this selling, todd horowitz. Todd, listen, invested, but you have been overly cautious. Its been one heck of a rally up until today for nasdaq and a couple days ago for the other indices. Beginning of something more severe to the down side, in your mind . Thanks for having me back on again. Look, i think the markets are fine here. I mean, im still fully invested but im also pretty much long the markets as well here. Some of those things will probably reverse tomorrow morning after todays action is over because i dont make any decisions until the day is over. It looks like at the end of the day there will probably be panic selling coming in here. At the end of the day, i dont see any real damage and i dont see any reason why suddenly the trend has changed because we one big down day. You said it yourself. We both expected a severe selloff. In markets that are 27,000, 28,000 or 3300 in the s p, you know, 200 or 300 points off is not that big a deal in the big picture and so until we get some real selling, and we start to break down which i know the dow is under the 200 Day Moving Average but other than that, everything is okay and certainly probably a buying opportunity. Charles are there areas that are more attractive to you than others . In other words, we saw boeing, i think it got to almost 230. It made an explosive move to the upside but is making an equally explosive move to the down side. So it proves one thing. If you werent nimble and consider yourself a trader, you could get singed. What stands out to you here . Well, i think i would be looking into the tech space. I would look for value but i would also want to look for things that were a good solid company. I wouldnt have a problem with apple if it came down another 5, 6, 7. I have no problem looking at zoom is a little bit up there. If zoom got back under 200 i would look there. Those are still the places you want to be. Really, the Dow Jones Industrial average is pretty much antiquated. Everything we do is tech related whether working from home or on the road. Again, i think that i would be looking there and i certainly do like the pot stocks. Im looking for a move there soon. Charles real quick, midsession there was some negative comments from joe biden on facebook and i think that exacerbated the move down for nasdaq and some of the big tech names. I believe they are untouchable but if there is any risk, theres political risk. Any way of factoring that in as an investor . I think right now, the markets are still pretty convinced that although the polls say one thing, they believe donald trump is going to win. I believe that if joe biden wins the election, i believe this market will be in trouble and we will see a major haircut because again charles i think youre right. I think youre right. To me, its charles have to leave it there. Got to leave it there, friend. Thank you. Charles all right. At the session lows as i hand it over to liz claman. No c. P. Effect today, liz. Liz you ruined it for me. Listen, its a tough day, charles. We are looking at circuit breakers. I know you have been, too. Breaking news, rough is an understatement. We have a pretty stunning display of fear sinking its teeth into the recent market runup and wringing a big chunk out of it. We are tracking a major selloff in airlines, cruise lines, energy companies, pretty broadbased. We will explain the triggers that caused the tumble today that is burning 1,737 points off the dow right now. Nasdaq down 491. Nasdaq 10,000 which we hit