Gloom out there. Were following the Airline Industry very closely as you know. Theyre looking for more aid, this time in the form of direct government grants here. The talk is how are they going to get that . The question, how much. Jetblue, robin hayes, what the significance of the flying industry is going through now. Jetblue has been able to fly over the turbulence. There is something that must be going on that were missing. Were looking what is happening at colleges now. The university of North Carolina at chapel hill. Kids were congregating, going to bars and parties. Not exactly social distancing. Now that university among some others that goes from inperson to virtual classes. Iona colleges president is with us, how that school is avoiding all of that. Meantime were focused on day two of the Democratic Convention as stuart was highlighting. The president has his own plans, continuing to visit battleground states that could turn the tide on this contest, still 76 days away. Blake . Reporter hi, there, neil. The president does, we expect to see President Trump landing in the Hawkeye State of iowa momentarily for the scaled back version of swing state campaigning. When you look at iowa right now, where things stand, here is the lay of the land there. Six electoral votes are up for grabs in that state. The president won iowa by nearly double digits last go round. He flipped the state in 2016. The most recent poll the president might potentially only be up by a couple points. From the midwest down to the southwest as the president will go to arizona to talk about the border wall and immigration. 11 electoral votes there, the state the president won by 3 1 2 last time. Democrats though havent won arizona since bill clinton did so in 1996. But when you look at the average polling information from realclearpolitics. Com it suggests that joe biden might actually be ahead there by a couple points at this point in time. What we are seeing right now from President Trump certainly unusual in the grand scheme of things because campaigning during an opposing partys Convention Week is not the norm. The president making it clear though that he was certainly watching the Democratic NationalConvention Last night. This morning he has been focusing his attention on the new york governors handling of covid19 along with the speech of the former first Lady Michelle obama. President trump she was over her head. She frankly should have made the speech live, she didnt do. She taped it. She gets the fawning review. If you gave a real review it wouldnt be so fawning. I thought it was extremely divisive speech, extremely divisive. I think we have tremendous amount of enthusiasm for my campaign. Reporter the United StatesPostal Service the postmaster general fox has been told will be testifying before the Senate Homeland security and Government Affairs committee. This sort of gives the republicans the ability to put louis dejoy out there in front of the cameras and before committees before democrats on the House Oversight committee have their turn on monday. Also we are anticipating potentially here in the next hour or so, neil, states attorney generals filing lawsuits against the u. S. Postal service and dejoy. Washington state has said that that could be coming here potentially in the 1 00 hour. So we expect to see maybe here, neil, the first flood of litigation as it relates to the u. S. Postal service. Neil . Neil so much going on. Blake burman, thank you very much. Blake burman at the white house. Again as we indicated this is day two of the Democratic Convention. It is surreal. Youre expecting to hear applause or the pageantry, the pomp, all of that we associate with this of course this is a big night for speakers. I dont know whether they will be pretaped. We know bill clinton will be addressing the delegates or i should just say the nation virtually or otherwise tonight. Well also hear from dr. Jill biden, the former Vice President s wife and alexandria ocasiocortez who im told was given one minute to make her remarks. No more, no less. Jackie deangelis with what is at stake and who is at stake. Hey, jackie. Reporter good afternoon, neil, even though it was virtual Governor Cuomo was highly anticipated because so many people were comparing this to 1984 when his father gave the keynote speech. We knew he would focus on the coronavirus pandemic being a central figure especially new york city was at the epicenter of the virus. I remember him. You remember him giving those press conferences saying every day he was working closely with the federal government on new yorks response. Last night he said the county was ambushed by negligence, blaming the federal government for things that went wrong in new york and elsewhere over last several months. Listen to this. This is manmade threat by our own negligence. We see the virus ricocheting across the country from one state to another. Today we trail the world in defeating covid. We have over five million cases. Americans learned a critical lesson. How vulnerable we are when we are divided and how many lives can be lost when our government is incompetent. Reporter President Trump firing back on critical a horrible governor. Crime taking over. Everyone leaving new york state. Cuomo killed 11,000 people in Nursing Homes alone. Crooked and incompetent. Cases in new york are down but it is no longer the epicenter. At the same time people are fleeing, neil we know this. I see it around the city every single day because of the crime. Businesses are not back up and running in a full capacity. And the Real Estate Market is hanging in the balance here as people flee as well. There are budget problems. There are police problems. It is a bit of a mess. Governor cuomo not reeling in mayor de blasio. A bit of good news, amazon making a bet people will get back into the office adding 3500 jobs. 2000 of those expected to be in new york city. It is not amazons job to fix the problems here, right . The question is, can new york city reemerge as a Financial Center and a capital here . The onus will be on Governor Cuomo and bill de blasio. We have not necessarily seen the results we need to see from them as theyre poopooing the other side of this. Were looking to night looking for bill clinton, jon kerry, one minute for aoc as you said and a. Idbiden habe t tgunin inor thahaha ba to ck tu. O iengeaisngeaisis onn t that. Gig ckiejait h o a a p t is calru, mginf otwotwo t tce t a aanan a aonceoned eyey arere aboutut thehe vusus atthat was notot discussiscussis in dne the oheni day o t oemocc convention. Law and other was not front and center issue. Michael goodwin writes in todays new york post. That was a mistake. Joins us right now. It was not in the virtual fair. What did you make of that . Yes, neil by design it was excluded. The emphasis was embracing protesters and embracing black lives matter. Specifically attacking the police and silence on the issue of violence. You cannot miss the violence. It is everywhere. You see it in every city. You see the murder rates up by double digits in scores of cities this year alone. And yet no mention last night at all. I think this is a glaring omission because it certainly is on the minds of a lot of people. And so for the democrats to sit there and pretend it is not happening or even to acknowledge it i think is a major opening for President Trump. Of course this is something he already focused on. Look, the fear that your city will be next, your town will be next, black lives matter, antifa will in your neighborhood, that scares a lot of people. The fact that it is happening in these democratic cities is a of little comfort to people around the country. I think this is a major event that is unfolding in america and not to be discussed at all, not to be acknowledged by the democrats on their first night i think is just a huge, huge mistake. Neil i think this environment is very similar, night and day i know, instances but to what landed Richard Nixon in the white house with his narrow victory over Huber Humphrey in 196. The underbelly of violent protests, what have you, really resonated in a way that i dont think democrats appreciated at time. They dont appear to appreciate it now. Theyre galvanizing on widespread base of americans that goes way behind, i think as one speaker, lily white backers of donald trump. Isnt that playing the game in reverse . Isnt that trivializing the president s supporters, and actually boomeranging . Your thoughts . Yes. When the george floyd homicide took place in minneapolis, i think there was a national outpouring of grief and anger at it. So those were legitimate protests. Many Police Officers shared that grief and anger. The good cops everywhere. It has morphed over time to a Violent Movement now. Much the violence we see in seattle and portland, the looting the arson, the attacks on the police, on federal agents in other cities it is not so much about protests or even just antifa violence per se. It is about ordinary crime with the Police Pulling back and the police being handcuffed and being abandoned by the Political Class in these cities and states. So i think you have a mix of things going on but for i think people observing this from a distance, close up in their own neighborhoods the result is the same. Its fear. It is the fear that i will be next. That my family will be next. And nothing scares people like crime. I mean its, after terrorism, which sort of comes out of the sky, the crime that comes from the mugger accosting you or your children on the Street Corner or outside of your house, your house getting burglarized, these are everyday concerns for people were largely ameliorated during the broken windows policing of the previous two decades but now that crime has been let out of the bottle again and it is a shattering experience for people who are worried that they will be next. Neil yeah. I think one person said something to the effect, i could take safeguards against the violence. I really cant protect myself if the mayor isnt doing it and city, with the rampant crime and degeneration going on in the city. Right. Neil very good points all, michael. Thank you for stopping by. Michael goodwin, pulitzer prizewinning columnist. Good read on social economic developments when they intervene. Speaking of economic developments. One thing steady as she goes throughout the pandemic, coming out of the pandemic what is happening on the housing front. Exactly this. July Housing Starts, permanent activity, future construction scenes, homebuilder confidence. Its a litany of numbers. Existing home sales. New home sales. Appetite on the part of borrowers to, there is sentiment for buying. In and out of alltime highs. It is remarkable. It continues uninterrupted stretch. David dworkin is the National Housing conference ceo. David, good to have you back. This is remarkable t flies in the face on what would be skittishness on part of people even with the low rates, coming out of their homes, deshelterring, theyre all in on this, arent they . Thanks for having me, neil, and it is not what i expected certainly. I think my investment judgment is consistent about slightly below Michael Jordans batting average. What weve seen are three things happening in the market. One is that we simply have not been building enough homes for over the last decade. The law of supply and demand cannot be repealed. We have a lack of supply so housing prices remain healthy. We have aging millenial generation. These kids are not kids anymore. Theyre getting married. Theyre having kids. You know that urban lifestyle was not quite as hip when you have a floor full of toys when you have a one bedroom or twobedroom apartment. Neil go ahead. Then covid. A lot of people can feel the pain there. Theyre awfully cute when theyre in college. But the other factor is cove vivid and in covid has done a couple of things. One is it really has forced people to stay at home. If were going to be in that place for another six months to a year before a vaccine is developed and widely available, people are looking for great internet, plenty of room, backyard or in the case of suburban garden apartments, looking for great common areas. They dont want to ride an elevator to get to their apartment. So i think that that is another factor in having people look at the suburbs. Were not seeing a depreciation in urban housing values but we are definitely seeing an increase in demand in the suburbs. Neil well, it depends on the urban area, right . New york city, it is legendary, big multimilliondollar penthouses that go begging that could be shortlived. I remember people saying the death of the Real Estate Industry in 9 11, after the financial meltdown. Seeing it now. Each case is very, very different. I suspect things will probably stablize a little bit in places like new york city but i wonder if people are reassessing the need to be in a city period . They can do a lot from home . Or they can seek out Employment Opportunities closer to the suburbs. What do you think is going on there . I think it depends where you work. That is always a big driver. I think in the case of new york city and other cities like San Francisco there has been a lot of overinvestment at the top of the market anyway. And so i think we would be seeing that regardless. Good news is Interest Rates have never been lower. The bad news is building costs have never been higher. Lumber prices are up 110 since midapril. That is 14,000 for a typical new home. Another 5000 for a typical apartment. The other factor that really is a driver here is restrictive zoning and local fees. And this is something that was the subject of a white house meeting i was at back in november. Secretary carson was very strong about making the case that weve got to address restrictive zoning and local fees and build more housing that is affordable to average people. It makes the current rhetoric hard for me to understand. Affordable housing doesnt hurt home values t actually strengthens communities. It is a critical component of building our way out of this recession. House led the recovery of every recession since 1960, except for the last one. That is an obvious exception to the rule. If we get out of the recession it will not be having people go back to work at Neiman Marcus or j. Crew. Those companies filed for bankruptcy. We need people put to work. Housing construction is a really critical component how were going to do that. Neil that is a very good point. It can affect elections as well. David, thank you very, very much. A quick Counter Point to that, knot a Counter Point but to elaborate what david was saying, when the Housing Market is strong going into a president ial election it generally benefits the party in control of the white house. It benefited Ronald Reagan in 1984. Despite the stock market crash in 1988, the housing improved mightily for the stock market. It was the win at the back of then Vice President george h. W. Bush who got elected in a landslide. Conversely it was sinking fast in 2008 after the financial meltdown. Not only did stocks melt down. Real estate itself melted down. That paved the way for john mccains defeat and the rise of barack obama. Many other factors. Put it this way, housing has a better track record dictating who ultimately wins in the fall than almost any other measurement. After this. Businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Neil you know the Airline Industry is becoming like the Rodney Dangerfield of corporate sector. It gets no respect because people assume, well, no ones flying. The truth of the matter is week in, week out, since the worst of the pandemic more people have been flying. It is nothing compared to what it was a year ago, depending on the airport, the locale, it is down 50 overall traffic from where it was a year ago. Again as i said, week by week traffic is picking up. Believe me you will not run into huge crowds at airports depending on where youre going but its a sign things could be coming back. A lot of airlines are sort of stumbling along hoping the comeback comes sooner. Barring that, that federal aid comes for quickly. Theyre looking at 25 billiondollar stimulus package that would follow up on aid they received earlier in the year. Robin hayes is the jetblue ceo with some insight into all of this. You know, robin, you guys have defied, if you think about it, a lot of other problems others have had. You stuck to the business model. You have that chic appeal with flyers who are rapid fans. But the same flyers dont like the hassles of flying today. What you do you deal with that . Hi, neil, great to be back on your show. I think weve really focused over the last few months on safety and you know, we have been making investments in cleaning. Weve been making investments in keeping the middle seat free, all aisle seats free on our airplanes to people, people who need to fly the confidence, if they do, were doing everything we can to keep it as safe as anything else they would do in their life. Actually, ironically, our Customer Satisfaction scores that we see are, have been higher during this covid pandemic than weve seen for many, many years. So i do think for people who are flying, they do for the most part appreciate the efforts the Airline Industry is making. Neil yeah. There doesnt seem to be any of the fistfights on your planes that im hearing about other carriers. I dont know what that means but i thought that was interesting, fights that break out on planes. I bet you, a lot has to do with theyre really crowded. People are packed in like sardines. Youre keeping the middle seat open for now. Other airlines have broken that pledge. Not across the board. That might be adding, oh, my gosh i will go on a plane that is packed. How long will you stick to the middle seat, keep it open thing . Yeah. So our airbus airplanes, three seats abreast, keeping middle seat free on embraer airplanes, keeping aisle seats free. Were keeping under review. It is very expensive. Were committed to the middle of october. It is important for our customers. It is a reason i think the Customer Satisfaction scores have actually improved during this covid pandemic but it is an investment. Were there until the middle of october. Well have to see after that. Neil what do you do though, when youre dealing with, you know, foreign countries, for example, that are leery of accepting u. S. Flyers . Even states that have lists of, you know, you know, leaving new jersey, coming back to new jersey, leaving new york, coming back to new york, you come from any one of 30 some odd states they want you quarantined . So that obviously complicates your business, right . Yeah. So the quarantines are very confusing for customers to navigate. They are put in for Good Public Health objectives but every state who, the states that have quarantines, many work in different ways, have different rules who it applies to, who is exempt. Some states allow you to have negative covid test to come out of the quarantine. So it is hard for people to navigate. You know, we do our best to our website, jetblue. Com to give people most up to date information. The states change them. In the tristate area they can change seven days. You can be somewhere, suddenly a quarantine requirement. That is really hard for many people with essential jobs, other jobs to stay on top of. Neil right. But we continue to partner with the states on that issue. Neil all right. Robin hayes, jetblue ceo. Thank you very much. Best of luck. Thank you. Well see you again soon, neil. Neil all right. Thank you very much. A bit of a delay there i apologize for that. Some of these colleges that open and opened a little too soon and theyre shocked, shocked when kids would get back they would go to bars, they go to parties. They would ignore social distancing rules. Now i can understand being a little naive but all of sudden now being forced to reverse yourself because you are, that is whole another matter. How did iona college avoid that thus far . Well talk to the schools president after this. Neil all right. It was a shock that kids when they get back to college might be planning to party, might be able to drink, even in the pandemic age, but such startling numbers did so at the university of North Carolina that it got so bad they had to say inperson classes are now going to be virtual classes. They were not alone. Jonathan serrie has more from atlanta. Jonathan . Reporter hi, there, neil. The move to Online Learning at unc chapel hill takes effect come and it will involve all undergraduate classes offered at that institution. Administrators made the decision after at least 130 students and five Staff Members tested positive for coronavirus, more positive tests are expected in the near future. Four clusters were reported at two campus residents halls, an offcampus apartment and a fraternity house. They have a off campus dorm with students. Socially distance to wear mask like i did, you can still get it. Reporter another college town, stillwater, oklahoma, is making headlines after a Oklahoma StateUniversity Student posted video on social media with students in long lines and crowded bars. Young people are lower risk for complications and death theyre contributing to a trend that concerns International Health officials. Is changing. People in their 20s, 30s, 40s, are increasingly driving the spread. Many are unaware theyre infected, with very mild symptoms or none at all. Reporter or none at all. The concern is that those asymptomatic cases may unwittingly spread the coronavirus to those who are vulnerable, mainly the elderly and those with Underlying Health conditions. Neil . Neil jonathan serrie. Thank you very much. To jonathans point here, the list of those schools that had to have minor reversals from inpersonvirtual or combination there off, not only the university of North Carolina chapel hill, Oklahoma State, notre dame, where they had 58 cases reported. Theyre not changing anything but theyre still working on a blend. University of tennessee at chattanooga. University of alabama. Weve also seen outbreaks at fraternities at washington state, california, university of mississippi. Again none much these have forced them to go all totally virtual but theyre changing midstream. My next guest was on top of this trend or fearing this trend. Wanted to make sure it was staying ahead of all of this before anyone else even realized impact would have. Im talking about iona college, its president dr. Seamus kerry with us right now. He was welcoming students back to in person classes monday after a week much Remote Learning. I think, doctor, right now, everything is copastetic, right . There havent been any problems . No problems so far, neil. Were very fortunate the numbers in our community to begin with are extremely low. That is a huge benefit to us but on campus as well. We had only one positive case from a student from outofstate. But he was in our quarantine protocol before coming to campus. So that situation worked out very well for us. Neil you know you were very much, doctor, ahead of the curve. Even, you were one of the first to close the college doors when this wave was first coming. What made you do that . What did you see . Conversely what do you see now that makes you feel you can undo that . I think in both cases we are following the data of the experts and the science. So back in the spring and in march we saw, we could see where the trends were going. To be perfectly honest we didnt think this would be this long of a time away but we knew we had to get students off campus because at that time we didnt have any protocols in place to keep people safe. We had to get them off campus. Now as we come back, were confident enough, because as i said earlier, the numbers in our region are very good. To be honest, if we didnt have the leadership in the political will in the tristate area we couldnt do this we wouldnt bring people back if our community had the wrong numbers around us. So that combined with the fact, i noticed in the leadin you mentioned a number of those schools. Those schools are very large institutions. They are almost like cities unto themselves. Very difficult to manage. I sympathize with those administrators trying to do that. Weve got about 35, 3600 students. Only about half of those are living here on campus. So we have a much more manageable circumstance to take care of our students, our faculty and our staff. Neil youre being very modest about it here. But i do want to get a sense, you know college kids. You know when they get together, they obviously a, like to get together. They sometimes ignore the social distancing guidelines. I mentioned some schools where this happened. There all not large city schools. It happens. It is understood. How are you relaying your concerns, your warnings, your advice to your students and for that matter their parents to stress to their students . Sure. I think were taking a twopronged approach to that on one hand, as educators we actually believe in students. I know the narrative out there is that students are not mature enough to handle this. In some cases theyre absolutely true. Students get together. They want to party. They want to do these things. Iona is a really unique community. We have a phrase, gales care for gale. This it is different sort of place where we dont just say that, we do it. The students have bought into the idea they want to get through the semester. They want their education to proceed and they really enjoy the in person class with their professors. At the same time we made it clear anybody who violates the protocals will not be allowed on campus. Weve gone even further. We had a couple of instances i told them you will lose your scholarships, if you lose the scholarship youre not coming back. They understand the message loudly and clearly. That is a small group that had to hear that message but they heard that message. Most of all positive reinforcement. Students supporting each other. The other thing that is really important to remember here that the vulnerable members of our community are not here. So we have mixed modal delivery of our courses. Were not entirely in person. Any faculty member who has immunocompromised position they teach remotely. Any student who wants to take classes virtually they can. Im actually teaching a class this semester. I have 25 students in my class. Six of them are remote. 19 of them are in person. So that is working out really well so far. Neil so you teach at the school and you run the school . Yeah. I am blaming my assistants here for letting me do that. So far it is working out. I teach philosophy. I was a professor of philosophy for many years. I love teaching. I thought it was really valuable for me to be doing what the other faculty members are doing so i can see exactly what is working, what is not working. We can Work Together to make sure were doing it as well as we possibly can. Neil i like the balance, doctor. You treat your students like adults. Along with that comes the assumption they will act like adults t appears to be working. So, doctor, thank you very much. Good luck in class, and at the school this interesting academic year. Dr. Seamus kerry, the guy who runs iona college. One of the first to see the potential problems with the virus. One of the first to see the benefits coming out of the virus. Stay with us. Well have more after this. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Neil all right. They think they have work cut out over workouts. Gyms in the empire state can reopen as of monday. It isnt such a gimme though in new york city where mayor bill de blasio has different ideas than governor governor andrew cuomo. Bruce silverglade, gleasons gym president welcomes a move in that direction. Bruce, good to have you. Do you know if this is a sure thing and what will the rules be . No. You know, weve had continuing problem here of lack of communication. So we heard absolutely nothing from the governor a little over five months and then yesterday out of the blue he decided he would give us information that we could open the gyms on monday of next week. And then in the evening we got notified by the mayor that we could not open. So it is a emotional and an economic roller coaster that were on. Neil yeah, those two are at loggerheads. Youre stuck in the middle. Im wondering in other states weve seen gyms reopen. They have had strict distancing provisions. You know, even some of, down to some of the equipment that cant be used. What kind of precautions do you take . What are you envision you will have to do, at least in new york . Well, it is very simple. People are trying to make it complicated. It is not complicated at all. They will tell me how many people can come in the gym at any given time. They have to wear masks. You have to stay so many feet apart from one another and keep your place clean. Tough have good ventilation. That something that is not new. The only thing said people will be Wearing Masks and im limited to 1 3 of my membership. Gyms are clean places. Gyms are places for Healthy People to go to, people that want to stay healthy. You dont have people coming in here saying i want to get a disease. They say, get me off of high blood pressure. Get me off of any other kind of medication im on. I want to look good in a bathing suit. These are places that are healthy and all the underlying causes that you hear that the coronavirus affects gyms eradicate. We get rid of all these things. Additionally mentally, we help people mentally. This is a political problem. Its, it is something that i dont understand why people cant go into gyms. Neil you know, youre also an iconic name featured, your gyms have been featured in many movies, raging bull, rocky. I wonder if that played in your favor . I talked to other fitness club owners, the crunch ceo, who urged the customers, write the governor, email the mayor, let them know how you feel. Did you ever urge the same even with your customers or legion of fans who obviously associate you with so many, you know, hollywood movies . Yes. Ive gotten zero response. I wrote every politician in new york. Neil is that right . Borough president , the city council. No one has responded. No one really cares about boxers, mainly because were from the lower socioeconomic areas. And there is complete discrimination going on right now with, with professional boxers. Even the governor, back in first part of june said professional athletes, if youre a basketball player, football player, soccer player, can train in a gym in your facility to prepare for competitions. I said, well what about professional boxers . What is the difference between a professional boxer and a professional basketball player . No response except that professional fighters cannot train in their gym, in their training facility. They have to train in a park and prepare for their competitions which is learn i unfair and in sport of boxing quite dangerous. If youre not prepared properly for boxing you can actually get seriously injured in a competition. So there is a tremendous amount of discrimination going on right now as well as the gym in total not being able to be open. Neil hopefully next week it is all settled. Whatever beef the governor has with the mayor will be resolved. People will be working out again. Bruce, best of luck. Well see how it goes. Keep us posted if you dont mind gleasons gym president. Iconic player in this industry to put it mildly. We are monitoring the president. He has arrived in iowa. He is going to visit a lot of the storm damage. They had a bizarre storm, totaled about four billion dollars in damages. The president quickly provided emergency federal rescue help but they still want to see more. Well be following what he is saying, what he is doing, related after this. i need it so bad dont call it a hobby. Its way more than just a job. This is how we live every single day. Can we go and play . roaring of engines i needed to try needed to fall i needed your love im burning away i need never get old. Neil all right. Seattle officials just releasing a lot of that footage of officers getting injured in a dustup demonstration and riot in the middle of a looting tragedy that got pretty violent pretty fast. William la jeunesse has more from los angeles. Reporter neil, 18 arrested sunday night in seattle during an antipolice protest near downtown. Around 10 00 someone in the group fired a large explosive at cops and tried to break into a patrol car. Told to disperse the crowd began throwing rocks, bottles, fireworks. They can reach over 1000 degrees and explosion permanent hearing loss. Bodycam video showing rioters targeting officers. Six injured. One hospitalized. Not returned to duty. Burns and black eye suffered by one cop. Burns on the neck of another. Police used flash bangs and pepper spray to disperse the crowd. Seven of nine members on the council pledged to cut future budgets by half. Now some in seattle, residents and businesses alike say this council is going too far, Defunding Police when they ran on a platform to increase public safety. One man started a recall campaign needing 9,000 signatures. He has reached 2300. My worry is that they dont really know how to do this but yet theyre already taking things away. So there will be a lapse in safety and you know, potentially someone could get hurt. There is no trust i think because they showed a lack of experience rushing, not having the people at the table, not having a plan. Reporter will violent protesters be held accountable . It remains to be scene. Prosecutors filed felonies against is 15 suspects this sum. They are awaiting charges from the attack on cops on sunday. Neil. Neil william la jeunesse. We take a quick break here with the dow down 20 points right now. The s p had been in record territory. It since relinquished that. Nasdaq, any gain today would be another record. Were waiting to see what the s p does. Getting news on Eastman Kodak shares finally resuming trading up a little north of 69 . Remember the shares got shellacked when the sec started sniffing around as to the timing of a Government Investment in the company to the tune of about 175 million for a lot of its generic drugs that it was working on, at least the elements in those drugs. The company far afield from what it used to be in the film business. You know, morphing into something that got instant attraction and notice by the administration, certainly by federal officials. The stock coming back here. The investigation though continues. Well have more after this. calm inspirational music i cant stop worrying. Why cant i sleep at night . How do i deal with all this stress . When did the world get so scary . Hello, this is michael youssef, there can be no doubt that our world is filled with troubles right now. And yet, there is one person who said, i can give you peace that can never be shaken even in the worst of your circumstances. Jesus is the way the truth and the only giver of eternal life and he is inviting you to come and surrender to him. And he will give you unbelievable peace, a peace that seems too good to be true, but its true. Will you come to him . calm inspirational music [female voice] are you looking for a peace that can withstand any hardship life can bring . Visit findingtruepeace. Com to find answers. Again, thats findingtruepeace. Com. calm inspirational music neil all right. It might be the dog days of august but fastmoving pieces in that Postal Service switch and changes the president orchestrated with the postmaster general. We already told you about how nancy pelosi wants him to testify about some of the changes going on at the post office that she thinks are meant to disturb the mailin ballot vote and maybe try to disrupt the election. Then we heard that the Republican Senate is going to hear testimony from him before the house does next monday. That testimony would presumably come on friday. Then we hear that attorneys general are looking into all of this and whether some of the planned actions on the part of the u. S. Postal service including some cutbacks are in order on the upandup. Separately they want to know whether any of that has to do with blocking mailin ballots and the rest. Then theres whats going on right now as classes begin to reopen across the country, particularly in florida right now. We will talk to the Lieutenant Governor there on how that reopening process is going. Evenly divided it seems, again, depending on the region, the county or the School District, between inperson classes and virtual classes. And then looking above all of this, i mean really above, up in space, the International Space station and japanese cargo ship that dropped off supplies there, an astronaut now departing from the iss and a return to earth. Keep in mind, next month there will be a crew of four, including a japanese astronaut, i might point out, as this gets ever more international each and every flight. We will keep you up on that. Also keeping you up on this backandforth on the post office. The president insisting hes just trying to help the post office and keep it leaner and meaner and democrats saying hes doing everything but. Chad pergram on where things stand now. Chad . Reporter good afternoon, neil. Well, as you said, louis dejoy, the postmaster general, will appear virtually before the Senate GovernmentalAffairs Committee on friday. Ron johnson, the chair of that committee, indicated that this is kind of a preemptive strike ahead of the house of representatives hearing on monday. This is what johnson said. Quote, we wanted to give the postmaster general an opportunity to tell his side of the story before he appeared before a hostile house committee. House Oversight Committee chairwoman Caroline Maloney says democrats are concerned the administration is trying to sabotage voting by mail. Let me tell you that experts are predicting that there will be more mailin voting than we have ever seen in this country, and these steps amount to voter suppression, plain and simple, and we must stop it. Reporter the house plans to vote saturday on a bill to bolster the Postal Service. It would infuse the agency with 25 billion but that bill likely wont go anywhere in the senate. The Senate Majority leader Mitch Mcconnell notes the administration and many republicans already backed a plan to award 10 billion to the Postal Service. Going to be just fine. Were going to make sure the ability to function going into the election is not adversely affected. Reporter President Trump says he just wants to make the Postal Service more efficient. Were going to make our post office really strong and really great. Were going to be proud of it again. It lost 78 billion in a short period of time over the last 12 or 13 years. 78 billion. We want to make our post office strong. We want to be proud of it. Reporter so dueling hearings in the next week or so, and something thats very interesting in this backandforth. No conversation whatsoever on adding Unemployment Benefits or any sort of coronavirus assistance. None of that is part of this discussion. This bill is only about the Postal Service. Back to you. Neil thats very interesting in and of itself. Chad, thank you very very much. I want to get the read on all this because it is politics at play here, despite what each side says. Joe lieberman, the former connecticut senator, of course, running mate, Vice President ial candidate back in 2000 with al gore. Senator, always good to have you. Where do you think this whole postal thing is going . Im just beginning to wonder here, if not a whiff of this, sir, is about the stimulus or unemployment checks or stimulus checks, its all about the post office. I suspect each side being a bit disingenuous. I agree with you. Thats very insightful. But i do think before long, this is going to be resolved. Its not a sure thing because obviously, this is an Election Year, but the Election Year means to everybody, the president , members of both parties and congress, to want to avoid a conflict and a shutdown of the Postal Service not just for the election but generally, but also, they want not to upset what appears to be a great economic recovery by not giving some more aid. [ inaudible ] particularly those who are out of work, i thought it was pretty significant theres Movement AmongHouse Democrats now when they come back ostensibly for the Postal Service bill, to also adopt a counteroffer. They set out a threepart [ inaudible ] they are talking about [ inaudible ] maybe this weekend for 2 trillion. So it suggests they are coming together. That would be good for the country. Neil do you get a sense, i know you have been probably watching this Virtual Convention going on. Tonight its bill clinton who speaks. Im wondering how out of step he is with the pulse and tenor of this new Democratic Party. He represented a moderate wing, you know, less extreme wing and it almost seems like hes out of synch with where the party is. Especially on the same night that alexandria ocasiocortez is going to speak, albeit i know for a minute, but it does make you wonder, is the odd man in an odd place . Well, theres no question, because i was there, and i supported bill clinton in 1992 for president , that he remade the Democratic Party into what he called the new Democratic Party. It was a centrist party. It got a lot done for the economy and for the country. Working ultimately in a bipartisan, productive relationship with newt gingrich. The party is different today but last night, Opening Night of the Democratic Convention was really [ inaudible ], to go from Bernie Sanders to john kasich and christine toddwhitman, et cetera. [ inaudible ] a wise old politician said never forget politics is about addition, not subtraction. You have to add people to get to a majority. On the other hand, i think it does set the table and you might say present a challenge to Vice President biden when it comes to thursday night to make clear where he is and for Bernie Sanders to say that his socialist agenda has now become the mainstream of the party i dont think is true and i dont think joe biden wants [ inaudible ]. So lets hope he collar filarif thursday night. Neil thats a tough line to walk because you dont want to tick off the passion of the party with just the pragmatic elements of the party that want to win. We will see how it goes. Joe lieberman, always a pleasure. Thank you for joining us. Thank you, neil. Good day, buddy. Neil all right. You, too. Joe lieberman. Hillary vaughn is here now to take a look at what this second night of the Convention Looks like. You heard about the speakers but its all about the tone, too, in a virtual world. That gets to be a little kind of discombobulating to watch at home. Republicans can face the same quandary but it is what it is, right, hillary . Reporter it is, and in fact, thats probably the biggest challenge right now for democrats, trying to keep the audience engaged, convincing them to stay logged in and listening to the Virtual Convention for several hours. But last night, we did see democrats stumping virtually at the dnc, making the economy or trying to make the economy a winning issue for them and a losing issue for President Trump. Making the case and comparing how President Trump has handled the economic crisis during this pandemic to how then president obama and Vice President joe biden handled the 2008 recession. Trumps negligence has exacerbated the economic crisis we are now experiencing. Since this pandemic began, over 30 Million People have lost their jobs. Instead of helping Small Businesses, trump concocted fraudulent executive orders that do virtually nothing to address the crisis. Reporter last night, michigan governor gretchen whitmer, who was on the short list to be bidens running mate, brought up the obama biden bailout of the Auto Industry at the time that significantly helped industries in her home state. Out of the 2008 recession, obama passed also a massive stimulus package, 831 billion in Unemployment Benefits and tax cuts and also later approved 80 billion in federal funds to stop General Motors and crihrysler fm folding and saving in the process over 2. 5 million jobs but there are major differences of course between the economic crisis we are in now and the recession that obama and biden faced at the time but on paper, so far trump has done a lot more than obama to help businesses specifically. The cares act alone, Columbia University estimates successfully kept 12 Million People out of poverty. The Paycheck Protection Program direct funding to Small Businesses saved 30 million jobs. There are also two other big differences. When you look at the obama Biden Economic approach and President Trumps. Taxes and regulations. Under obama, taxes for the top tax rate, corporations were 14 higher and 35 . Right now, under trump, the tax rate is at 21 for corporations but when you look at regulations, too, obama broke records. The federal registry, register that was filed was the longest ever when obama left office, and since then, President Trump has been making it his goal to undo a lot of those rules and regulations that obama put in place and there is one estimate that just a couple of the regulations that President Trump has rolled back during his tenure has already saved 220 billion per year for businesses. Neil . Neil i wonder who came up with that number. Thank you very much for that, Hillary Vaughn following closely the obama folks always shoot back these regulations were after the meltdown to prevent the bankers and all this from selling, you know, lousy securities to the public and all of that. We put a lot of regulations in effect then. It is what it is. They focus on the numbers, each side, you know, kind of presents the numbers that they like to see fit. But that has been a big theme of the trump administration, the cutdown in regulations actually took place before we had the cut in taxes and it did Save Companies a lot of money, whether you are for or against them, it did get this spark in the economy. Judge Andrew Napolitano with us now. Judge, so glad to have you back, my friend. I did want to check with you on what the president wants to do regarding executive actions that he says will address stimulus around the virus, that republicans and democrats couldnt. Among the things he wants to do, as you know, is go ahead and have businesses cut the payroll tax. Some of them, though, judge, have been very leery to do that, a, because its only going to go to the president. Congress controls the Purse Strings and hasnt weighed in on that so they are feeling iffy about that. Secondly, unless its temporary, they worry that they are going to be stuck with all the expense of this if it just comes and goes and they have given the money out. Where are you on this . Well, good afternoon, neil. Its good to be back with you. Always a pleasure to discuss whatever you want to discuss. Look, the one executive order about which you are speaking authorizes the treasury to pay individuals 300 a head providing the states in which they live kick in 100 for a total of four. If the states do not kick in the hundred, then the 300 doesnt come. So theres two problems with that. One, the president cannot, cannot under the constitution, spend money unless its been expressly authorized by the congress. So the 300 is out. Secondly, the president cant tell the states that they have to spend their own money, that money, that tax those tax dollars are there for state officials to decide how to spend. With respect to executive orders, look, an executive order must be limited to the president telling people in the executive branch of government how to enforce laws that already exist, not to make up laws that dont exist. Not too long ago, a president of the United States asked the congress to change immigration laws. When it refused, he boasted that he could govern more effectively with a pen and a phone than congress did and he wrote 24 executive orders, writing into law, purporting to write into law what the congress refused to do. He was harshly criticized by the person running for his job. The president barack obama. The person who criticized him was donald trump. I guess things look differently from 1600 pennsylvania avenue looking out than they do when you are on the outside looking in. Neil thats a very good point. On the payroll tax thing, one of the things i touched on with you is this idea that democrats were all for a cut in the payroll tax when barack obama was cutting it back in 2010. Again, in 2012. Republicans were dead set against it. Its now completely reversed but its the c. O. O. S with whom ive been chatting who say we are all for whatever he wants to do here, but without the cover of congress, you know, stamping this thing its okay, then letting us know whether this is going to be permanent or temporary, because if its temporary, were going to have to get this money again. And were going to be on the hook for it. It puts them in a dilemma, right . You are 100 correct, as are the ceos with whom you have been speaking. They have a legal obligation to surrender to the federal government quarterly the amount of payroll tax that is due. If they havent taken the payroll tax because the president says dont collect it, they are going to have to come up with it from some source, probably in one chunk from their employees, which means for a couple of weeks those employees might not get paid because their salary is going to go to pay the payroll tax that was not collected in the preceding three and a half months. That will be catastrophic for those folks. This is why only congress can write the laws and this is why the president took an oath faithfully to uphold the laws, meaning to enforce them whether he agrees with them or not. Neil real quickly, the state ags that now want to go after the Postal Service, some of the changes that its making, they say that fly in the face of its mission, this as democrats are leading an effort right now to reverse some of those financial changes and calls [ inaudible ]. Whos in the right here . The president saying hes trying to make it a lean and mean post office. The democrats say no, no, no, you are trying to interrupt the election process and using the post office as a vehicle to get your way. You know, i share the president s view that the post office is way below par. The reason for that is you cant compete with the post office. You cant charge less than they do under the law, and you cant compete against them for the delivery of first class mail. Thats a statute that goes back to the 1840s. However, the post office is in the constitution. It is one of the services that the government must provide, like defense. So when Congress Funds the post office, the president must spend that money and if congress if the states are going to use the post office to deliver ballots, the federal government is obliged to deliver those ballots in a timely manner. Now, whether you believe the democrats, the president is trying to subvert the post office or you believe the president , hes trying to make it stronger, leaner and meaner as he says is irrelevant. The point is the post office has to work and the money needs to be there for them to deliver these ballots, period. Neil you know, judge, i know people say this. You are so wicked smart that no matter what we throw at you, you are ready and able to answer it. So you didnt get at all rusty when you were away. Very good to have you back. Thank you, neil. Neil all right. Very good. Judge Andrew Napolitano on that. We are going to be following this ag battle against the post office and we will get more from the president in iowa right now. We will also go to arizona later on, on how democrats are making a big hullabaloo over nothing. We shall see. After this. As a caricature artist, i appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Simon pagenaud takes the lead at the indy 500 coming to the green flag, racing at daytona. Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. He scores stanley cup champions touchdown only mahomes. The big events are back and xfinity is your home for the return of live sports. I appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Neil this is intriguing. In case you think malls are dinosaurs, no one is going to them right now, they might have a whole new life. Simon Property Group owns a bunch of very big malls all across the country. Apparently its in talks with amazon to turn some of their anchor stores, many of which have gone out of business, into Fulfillment Centers for amazon. Again, this expands on amazons interest in properties that they could shift into their own warehouses, if you will, Fulfillment Centers where you go there, get the goods that you wanted or ordered, or they are shipped to you from there, hence in simons interest its a way of keeping the malls going alive and well. By the way, not that shoppers have stopped shopping. The fact of the matter is if not for the consumer, activity would be done but the consumer alive and well and we are seeing it particularly in ecommerce sales. Walmart, for example, saw ecommerce sales alone jump 97 in the latest period. Of course, you know amazon and its story of the online world, legendary right now. Danielle dimartino booth follows this, former dallas fed adviser. You know, all the time we talk about the resilience of the consumer, how he or she, despite whats going on, despite sheltering at home, doing a lot of buying from home, and continuing it now as they slowly make their way out of the home, and thats been the catalyst behind this steady streak of good numbers we have been seeing. How long you think it lasts . Well have to see. Walmart said that they could tell by looking at their sales figures that the stimulus money had run out by the end of july and that they are seeing a very weak backtoschool. So you look back to, you know, after you were born, to recessions that started after 1970, but if you look all the way back to that time period, we never saw disposable income increase in a recession. Thats actually what we are seeing right now. Normally disposable income decreases as people lose their jobs but the stimulus has been so gigantic that we have seen a 32 increase in disposable income and that has gone directly into the economy and thats why you are seeing such an extraordinary large, larger footprint with ecommerce. Just over the past year, ecommerce sales have grown from 11 of total retail sales to 16 of total retail sales, showing you that the pie is not necessarily getting bigger but boy, are we doing a lot more online shopping. Neil the president keeps talking about numbers like this, whats happening in the housing industry, factory debt and all the rest. To say we are rapidly coming out of this, the 10 million jobs we gained over roughly the last three months, the Unemployment Rate even though its at 10. 2 , they expect to be in Single Digits by election day, its down from a high of close to 15 . Your thoughts on all of this . Well, you have to bear in mind that 10 million jobs thats been created only gives us back 42 of the jobs that we have already lost and we are starting to see further evidence of higher income job losses and i think that is problematic. Housing is obviously a superstar in this current recovery, but the fact is youve got 80 plus of americans under mortgage forbearance who, under different conditions, again, would have long since either been foreclosed on or put their homes on the market. We are not seeing that because of the cares act which has effectively put into a Holding Pattern what we would normally consider as economists the onset of the credit cycle. Neil then you got to also think of what walmart is hinting at, concerns that if the unemployment extra checks go away or stimulus checks never materialize, that could impact its customer base. We dont know for sure. But the fact that they threw it out there, its maybe indicative of the concern thats out there, right . Well, if any retailer in america is going to have seen the stimulus dollars right there on the front line, its going to have been walmart. Americans look to walmart and walmart. Com as a place to price check against amazon. Coms higher pricing. Walmart is going to see exactly how pricesensitive u. S. Consumers are and what their disposable income levels are after those stimulus dollars have been exhausted. I think this is really when we start to see the true test with two plus months left to go as your last guest was speaking about, before the election. The need to push through further stimulus measures and the need to go that through congress is becoming increasingly important. Neil yeah. Because a lot of ceos will the no budge until they have congressional stamp of approval. They just feel its risky, whether or not they like the president. Danielle, always great having you, my friend. Thank you very very much. Excellent read on all of this. By the way, i want to do a quick followup from a guest we had yesterday, inovios ceo talking about something you could place into the skin, a device that allows you, your body, in other words, to help fight covid19. I misidentified this device. Even though it looks like, you know, almost like a nose clipper or nose hair clipper, it is not that. I think i called it that. Its a smart device that delivers this vaccine into the cells via a brief electrical pulse, actually on small skin pores, not the nose. Now you know. This is not a nose device. It just looks like one. More after this. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Neil you know, this is an interesting statistic. When things were just really beginning to mushroom with the coronavirus and spreading everywhere, the thought was well see if we can complete the school year but certainly, its a nonissue as we anticipate the opening of the next school year. Well, that was then. This is now. Fully a third of parents of School Aged Kids are very very leery, very very worried about sending their kids to school in this environment where you are seeing spikes in cases in some regions. Lauren simonetti herself a young mom on what shes hearing from that front. Lauren parents should be concerned because just look at whats happening at colleges. Class was dismissed at unc chapel hill just one week into the fall semester, one week. Thats all it took. The colleges, the first to switch to full Remote Learning starts tomorrow because of a spike in covid cases, they are not alone. Notre dame, a spike in cases there. Oklahoma state, boston university, villanova also reporting more infections and as a result, more testing. Take a look. Crowded parties just like these appear to be the culprit on college campuses. And they are prompting urgent pleas like this one from the basketball coach at villanova. Love the party, nobody does it better, but not this semester. We have to get through this pandemic together. Lauren if colleges are the blueprint for grade school, oh, boy. Lets take a look at whats happening in some of the School Districts that have already opened across the country. In mississippi, 71 out of 82 counties reported coronavirus cases. In arizona, the entire School District in one area had to close because of a sickout. A sickout. The teachers were protesting their Health Concerns and just didnt show up to class. So thats a scary thought when you think about it like this. The former epicenter of the virus, which is new york city, the department of education tells us this. With the citywide infection rate of 1 , new york city is the safest major city in the country. They continue we are committed to providing quality instruction five days a week regardless of the setting. Back to the poll that you just referenced, will parents be convinced by all of this. A gallup poll finds only 36 are okay with sending the kids back to the classroom fulltime. The National HomeSchool Association says this could be the beginning of the end of public education. Theyre doomed in the long run. Theyve already outlived their usefulness and eventually they are not going to be here. Lauren all right. Those are pretty controversial comments, but ten million kids will likely be homeschooled this year. Thats an increase from four million last year. That paints the picture, doesnt it . Neil it does. What are you going to do . How are you going to handle this . Lauren one will start and well see how that goes. The school is very small. The other one, im holding back. So its case by case, i guess. We are set up in my area to do a microschool, a pod, should the schools close. Because kids are just so anxious and bored at home. I work, and even if i didnt, i cant entertain them 24 7. Neil good stuff. Good luck with that. Lauren neil, quick, can i ask a quick question . Your son is starting college. Do i have that right . Neil he is. Its delayed but hes starting in person classes are delayed. Lauren i feel so bad. Kids are not going to know what freshman year neil he assures me hes not one of those kids who would be drinking and partying. He would be hanging out in the library just like his dad. But again, his dad had no life. He seems to have a little more of a life. We will see what happens there. But youre right, its delayed at the college level, too. Its a mess. You will find out soon enough. The time will just whiz by. Great chatting with you, my friend. Lauren thanks, neil. Neil this is the world we live in. We all compete on these same levels, what we do. Its a big issue in florida as well. The Lieutenant Governor of that beautiful state joins us right now. Governor, very good to have you. How are things going there right now . I know there are a good many School Districts that are trying to balance out virtual with inperson classes, parents that are worried when there are spikes about how they juggle that. Sort of handicap how things are looking there right now. Sure. Thank you, neil, for the opportunity to be on your show today. Great to talk about florida and all the wonderful progress that were making as it relates to schools, what we have seen in the past week and a half is that more than 25 School Districts are opening. Obviously that is something that we have been monitoring very closely. We want to make sure under Governor Desantiss leadership that parents have options and that includes virtual, if they so choose to keep their students at home. Im a mom of three. My youngest will Start High School this year and i understand its a challenge. Its a challenge not only for the parents, for the students but also for the teachers. But im happy to report that in all the districts that we have opened, we have had an inordinate amount of parents that have chose to send their children back to school and we have had almost 100 teacher turnout in many of these School Districts. While i recognize that it will continue to be a challenge, especially in those counties most impacted, we are going to get through it and im confident that parents will make the right choice for their student. Neil not everyone has been hunkydory about it, right . I know lawsuits are flying fast and furious not only in your state, across the country, where teachers feel that they are being put upon here in force. There have been sickouts in some regions and states where teachers just dont show up and as a result, classes have to be delayed. What are you seeing now, what is florida trying to do to prevent that . Sure. I think Governor Desantis has been very clear. For teachers that have health conditions, that have risks at home, he wants to make sure they have options, too. The options arent just for the parents and the students. We want to make sure that teachers have the options as well. For example, in miamidade county, where the largest number of cases in the state of florida is, you have obviously the School District has said they are going to start virtually. They are going to reevaluate in september. You have to find a balance, helping to make sure you are providing for those teachers that have challenges, that have risks, and thankfully, we have had no teacher sickouts to date. We referenced the lawsuits, thats obviously going through mediation. We hoped to have some finality within the next couple days. Again, we are really focused on the students, the parents, the teachers, the whole continuum of care for education, making sure that everyone has access to high quality education which florida is known for. Neil all right. Lieutenant governor, we will watch how that goes and how it unwinds as more and more states like your own begin to try to resume some semblance of what life was like, even though its a far cry from what life was like. Thank you very very much. Good luck with your own children in the middle of this. You know, people forget that. I think its very important, some of the politicians we point fingers at on the left or right, a lot of them are parents, too. They are on the front lines of this. They have to weigh in on it, legislate about it, and as parents, they have to deal with it. Stay with us. Come on in, were open. All we do is hand you the bag. Simple. Done. We adapt and we change. You know, you just figure it out. Weve just been finding a way to keep on pushing. Always have been. And always will be. Never letting anything get in my way. Not the doubts, distractions, or voice in my head. And certainly not arthritis. New voltaren provides powerful arthritis pain relief to help me keep moving. And it can help you too. Feel the joy of movement with voltaren. Neil all right. Real estate might be booming, except in urban areas. We were getting into that a little earlier in the show. As for the rental market in those same said urban areas, not so much. Already we are seeing a record drop in rent, about 10 in the latest period. Record number of empty units. So desperate times call for desperate measures. With landlords and renters agreeing right now that at this time, we are going to get into this a little bit later with terry, this notion that theres got to be an all teternative to this. Maybe not traditional leases. Fascinating story you will want to Pay Attention to because it could affect homeowners as well. We will explain that coming up. Meantime, taking a look right now at day two of this Democratic Convention with charlie gasparino. Where you might be noticing they are trying to battle this moderating theme that might be espoused by bill clinton tonight. Hes one of the premier speakers, with the more aggressive stance by another speaker tonight, alexandria ocasiocortez. It is a tough line to walk. Charlie, how are the big donors dealing with all of this . Charlie well, i can just tell you what they are doing in the new york area and with other wall street banking types and other ceo types. They are trying to say this. Aoc is going to speak, bernie spoke last night, as you know, elizabeth warren, the other progressive firebrand, she will speak later on as well. They are speaking but they are not governing, that this is and this is what the wall street donors are doing. Right now, its a critical time for biden, for President Trump as well in terms of raising money. This is the home stretch. We have less than 90 days to go before the big day. You got to raise money. Both sides are trying to raise money frantically. Biden is raising a lot of money. But his message is pretty interesting to the wall street rich crowd and to generally, you know, people with money, that joe biden, Kamala Harris are eminently moderate. These are not socialists. Aoc, Bernie Sanders, elizabeth warren, will not have a seat at the table when all is said and done. Taxes may go up but they are going to go up like they went up during the obama years and everything was fine. Bill clinton would be comfortable with the joe bid biden harris agenda. That is the line. Now, the reality as you know, if you look at the democratic platform, if you look at some of the proposals that joe biden has put out with Kamala Harris, is far different. Wall street knows that. That doesnt mean wall street wont back biden harris. They often back someone, the candidate that they think is going to win and right now the polls show them ahead. But the sale of these two as moderates clearly hasnt worked that well. Its being met, i hear, with a lot of skepticism. We can go through point by point, joe bidens economic plan. He claims hes not raising middle class taxes. That might be true on tax rates but if you look at some of the deductions that hes zeroing out and some other issues, there will be middle class tax increases. There will be tons of tax increases on Small Businesses, on corporations. Theres going to be a lot more regulation. Theres going to be a green new deal, or something close to that which is a massive spending plan. This is a fairly progressive ticket despite what the wall street donor class is saying. That doesnt mean they wont raise money from wall street. But i think it does put a cap on it. Listen, wall street, at least the leadership, has never been fond of President Trump. If you go to the big bank ceos, like David Solomon and larry fink, most of them are democrats. Even jamie dimon, democrat. Even though hes much more of a moderate democrat, still democrat. They have never been comfortable with trumps brand of nationalism. That said, what they see coming out of the Democratic Party is pretty scary. Even the left wingers on wall street are wondering just how far left this tickets going to go. And its pretty far left. If you look at the platform, this is a more liberal progressive economic agenda and im not even talking about the social issues. This is much more left than even what barack obama proposed. I mean, it is what it is. Its massive spending, its lots of it and its a lot of taxes. So thats at least what the wall street guys are trying to spin it. We will see if it works. Again, we are in the final stretch here. Big fundraising stretch. Both sides are pounding the pavement trying to talk to the guys with the money, meaning ceo types, people who run businesses, wall street executives, and you know, the Trump Campaign is saying this is socialism and the biden people are saying nah, these guys are moderate and i think the moderate label is going to be a hard sell. Back to you. Neil all right. Thank you, my friend, very much. Charlie gasparino on all of that. Leases, rental agreements, we dont need no stinkin leases. Whats going on in rental land . After this. vo weve got your back, road warriors. Because we know you want to get back to going your speed. Steering life at 10 and 2. Youre prepared for this. And so are we. Soon youll get back to skipping the counter without missing a beat. Back to choosing any car in the aisle. Back to being the boss of you. Go national. Go like a pro. Where you can find games, news and highlights. All in one place, right on your tv. The xfinity sports zone. Use your voice to search every stat and score. Follow the teams you love. And, even get notifications with breaking news alerts and more. With the xfinity sports zone everybody wins. Now thats simple, easy, awesome. Say xfinity sports zone into your voice remote today. Gerri welcome back. Im gerri willis. As the pandemic crisis grinds on and employers allow remote work, a growing number of property owners, theyre getting rid of the yearlong lease all together. They are offering monthtomonth agreements, sometimes ditching the standard twomonth deposit as renters gain leverage. From San Francisco to new york, this is no longer standard according to the National Apartment association which says a third are offering shortterm leases to at least 10 of residents. In San Francisco, where renters used to compete for property, new landlords are offering concessions and if they dont, listen. Specific landlords end up being stuck with much lower rents than what they were able to charge even six months ago. More than 10 , sometimes more than 15 . Gerri but leases arent written monthtomonth everywhere. In fact, in the northeast, especially those bedroom communities in connecticut and new york state, lease terms are returning to yearlong contracts as the number of rental contracts for high end homes spikes 400 . Listen. Rental prices are increasing every single day. We are seeing a shortage of rentals, therefore prices are going up and leases continue to be written at higher rates than they were prior to that lease. Gerri well, the rental market may be awake in some parts of the country, obviously, but the markets for buying homes, existing homes and new homes, redhot. Listen to this. Today, Housing Starts released for the month of july, up 22. 6 and Building Permits up 18. 8 . Thats the highest number in 30 years. Neil . Neil gerri, i would imagine theres a difference say if you are in new york city, where rentals sometimes go begging, versus out in the burbs as you were showing, where they are anything but. Its a different world, right . Gerri totally different world and of course, in new york city, they are begging for rents right now. You have been talking a lot about this. But in the suburbs, a lot of those people fleeing, thats where theyre going. Neil . Neil thats exactly right. Gerri willis, fascinating stuff. Good seeing you again. Lets take a quick peek at the corner of wall and broad right now. We told you about the strong housing activity, gerri touched on that. That was sort of the tonic for the markets early on. The unexpected uptick in Housing Starts and the like. The fact that home depot was doing so well and all these others that have to do with that doing so well. A little less so right now. Trade tensions, stimulus tensions, postal tensions, tensions so far narrowly winning out. More after this. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. To listen, is to hear more than whats being said. Tara, did you know geico is now offering an extra 15 credit on car and motorcycle policies . Wow. Ok thats 15 on top of what geico could already save you. So what are you waiting for . Idina menzel to sing your own theme song . Tara, tara, look at her go with a fresh cup of joe. Gettin down to work early following her dreams into taxidermy oh, its. Tax attorney. I read that wrong, oh yeeaaaah geico. Save an extra 15 percent when you switch by october 7th. Give it up for tara . Neil man, oh, man, maybe apple should made it a five for one stock split. Three weeks after announcing a four for one stock split, the stock at a record 462 a share. It is up another . Amazon continuing to race ahead, 112 bucks, 3 1 2 . All good in techland. Now two trillion dollar market cap on apple. Amazing. Now to you, Charles Payne. Charles i would say 10 for one. Why not . Get it back to 40 bucks. Neil come on or right . Charles its a fun ride. Thanks a lot, neil. Good afternoon, everyone, im Charles Payne this is indeed making money. Breaking right now, it finally happened today the s p 500 made it to a new alltime high the question, will it join the nasdaq which remains on fire . The vshaped recovery continues. Strong housing data. Strong corporate earnings. Look at walmart. Look at home depot. The retail landscape. We note rapidly changing. So what are the names two the