Stocks stumbled out of gate. This is blowoff of november to remember. Reversal that may have been sparked by record homebuilder sent meant. Some think the market is too optimistic and toppy. They say it has gone full bull. Is it time to buy or sell. Of course those ceos of facebook and twitter, they are more contrite this time around in latest capitol hill hearing. Republicans and Democratic Senators are both admonishing them for abuse of power. Well continue with a life report, get reaction from tennessee senator Marsha Blackburn. All that and so much more on making money. Charles a little bit after trap door as the market opens for trading today. The s p 500 now though, remember yesterday hit new alltime highs. So the selling really is natural considering that it has been 12 trading days in november where the s p is up almost 11 . The dow is up more than 13 . In fact there is sort of a growing feeling the market is ahead of itself. That is the conclusion which bank of america in its monthly survey of growth managers that is the market is in full bull and time to sell the vaccine rally. The biggest quandary for investors could be finding cheap stocks as the biggest winners since march 23rd are also the biggest laggards of the year. Here are some of the smartest investors i know. Well find out how they deal with conundrum. David nelson, Alicia Levine along with Prudential Financial chief Market Strategist quincy krosby. Here is the question. Is the market overbought . If so, how much does it have to come down before any of you feel comfortable . Let me start with you, david. I know youre always 100 invested. So i guess for you the question is a little different, where do you find value . Look in the short run selling right now, you know, maybe if you have a short term horizon, maybe that is a good call but if your time horse son is more than just horizon is more than a few months, try to resist the temptation. We have to move out of our comfort zone. Not focus on Growth Stocks like amazon, microsoft, apple and move down the valuation curve and there is plenty of them out there. You can move to games of financials, industrials, energy, even. And move out of that comfort zone because the vaccine is a gamechanger for sure. Charles here is the thing, david. Materials since march 23rd are up 83 . Industrials up 80 . Yet they are barely up for the year. A lot of people are wondering, shortterm, overbought. Do i ignore that, long term maybe there is a long way to go . Ignore it. If a stock is down, or a security down 50 of to v 100 move to make it back to evening. Xle was down 58 . That is 139 you need to get back to the top. So there is more room to go on the upside . Charles alicia, last week you voiced more confidences i felt in part because of the vaccine. How does one position themselves with the market with major indices at alltime highs . We basically agree with david here. We think there will be shortterm volatility and probably an air pocket in the u. S. Economy as could have individual is really exploding across the country. Now that covid slowdown is a short term thing. We have the vaccine on the other side of this. Very hard to time the market but i would say this, pullbacks are definitely byable because the market is a healthy market. The s p is trading 15 above its 200day moving average. Historically that means sick six month returns are very positive. We like that. Woe think there is chance to get in and consolidation from cyclicals because they moved so much in a short time. Charles they made a big move for sure. Quince sir, should investors though overlook the rise in these cases as we have particularly more increased local lockdowns . I dont think you should overlook it. It could be here longer. We could have more hospitalizations. We Pay Attention to the death rate although that has been very different than what we experienced in the spring. It has been much lower thanks to the therapeutics. Thanks to the ability to work with the patients who come in but that said if this continues the way were seeing it in europe, where we see more restrictions, more localized lockdowns and even individuals say you know what . I just dont want to go out i think its a good idea to have some of that barbell we enjoyed for so long during this pandemic. That is to say, consumer staples, the clorox, hormel, how about Hershey Chocolate that did so well. But at the same time, charles, Pay Attention to when it levels off and more news about the vaccines because then youre going to see the market move immediately, immediately. Looking towards the other side of this pandemic. Charles right. Feels like it is still moving in that direction right now. Even today some of the cruise line stocks are doing well. These buildings, you know, these empty buildings, shares of those stocks are through the roof. I want to go back to the consumer. You brought up the consumer. We got some mixed signals this morning. Retail sales they were higher for the month but less than consensus. Moments ago the Homebuilder Sentiment number surged paced by a record prospective buyers. Consumers, 2 3 ever the economy have to pull us through this, what is their state right now . The consumer is still pretty healthy, even though the retail Sales Numbers are mixed this morning as you pointed out, we have huge numbers coming from americas largest retailers with enormous earnings and comp sales. That is really positive. And Home Building and homeownership is growing. That is a huge stimulus to the u. S. Economy. I say this, i would be more comfortable if we could get a package a stimulus package in the lameduck session. Then i think the risk gets taken out of the market. That is why your risk is here. Can you get through the two to three months when you may not have enough support as covid grows. But on the earth side, the bomb of second half of next year. Charles second half of next year. That is long way from now if youre investor. But market is pricing it in. Charles david, home depots, walmart, or the large names were allowed to operate throughout all of this. They had a distinct advantage. Walmart, some of that has to be pulled forward also. Do you discount that at all . Do you agree with alicia the consumer is strong . I think you hit on it, a lot is pulled forward especially for home depot. We were shut in, turned to doing things domestically. We improved homes and apartments. 24 comp sales. Obviously that was pulled in. I own walmart. I will have to dig into the report tonight. I doubt i find anything in the report that americas me want to sell tomorrow. Charles quincy, on the stimulus, alicia mentioned the lameduck session. Joe biden would want to go more than two trillion dollars, but everyone assumes it will happen. What if it does not materialize. What does that do to the economy and the stock market . Well a lot depends on again the vaccine because if you want a stimulus, it is the vaccine because what it does, it gives Natural Organic growth at some point once the pandemic is taken under control. Charles right. The fact of the matter is, worry of pandemic shuts us down, jeopardizes the reopening of our country, of the economy, and we start to see layoffs. Theyre responsible for two out of every three jobs. They are the ones forced to shut down before the big names are, you know, shortening hours. Then you know that you need a stimulus package. Charles i got less than, i got less than a minute, if i can, ask each much you if you can share what you like here. Because, quincy, in my notes you like the Delivery Companies and tech. Is that, is that fedex and ups . Yeah. I do because were going to have more news on the vaccine. Were going to be talking about the emergency authorization. There will be other companies that come forth with their phase three interim readouts. I think they will positive. Charles right. That vaccine has to be delivered. Well go through stages, delivery, then actually jabbing the american public. If you ask fedex was involved 11 years ago with swine flu, those companies will have an extra underpinning of how as that vaccine have to be delivered. Charles just for the record, david, also likes those names. You know what is interesting in that whole realm, commercial airplanes that are parked might play a role in that as well. David, alicia, quince sir, thank you very much. We have breaking news. Acting secretary of defense Christopher Miller officially announcing a u. S. Drawdown in afghanistan and iraq. Troops will be cut roughly in half to 2500 in afghanistan. By 500 troops to 2500 in iraq by january. Were going to get reaction from Rebecca Heinrich later in the hour on that. Also tennessee senator Marsha Blackburn about the grilling of giants on capitol hill. Coming up she will let us know if she is satisfied with answers she gets from facebook and twit are ceos. Joe biden firing his first salvo at corporate america. He is promising an increase in power in unions for the biden administration. Does that mean forced unionization . Well find out next. I knew about the tremors. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Charles joe biden firing the first in your faysaal very to corporate america. He will force unionization upon them and their workers. Cheryl casone joins me now with more. Reporter thats right, charles. Biden says unions will have increased power under his administration and bringing a host of labor officials to join his economic transition team. Unions are going to have increased power. They understand. It is not antibusiness. It is about Economic Growth creating goodpaying jobs. Reporter some of the leaders on the call monday with biden and harris, general motors, mary barra, microsoft satya nadella, target Brian Cornell and aflcio president Richard Trumka and leaders of the United Auto Workers and Service Employees international union. Union membership has been on the steady decline for years, from 20. 1 in 1983, to 10. 3 of workers in 2019. If you break it down from the private sector, decline of 16. 8 during the same time period to 6. 2 last year. In Public Sector unions are more represented, 36. 7 then. Now standing at 33. 6 . Union workers on average make a little over 1000 a week. Nonunion workers make 892 a week on average. That is a national average. Additionally unemployment is higher in states with heavy union membership, hawaii, new york, washington, rhode island, arkansas. Biden, charles, committed to passing protecting right to organize act which would amend decades old labor laws, expanding worker collect bargaining rights and sanctions against companies that retaliate against employees for forming unions. Charles, back to you. Charles thank you very much. With me now, weve been through this before. Trump Economic Advisor steve moore. Steve, the americans have we heard soundly reject unionization yet joe biden making it pretty clear. He is not mincing any words. He will force not only businesses to accept unionization but also for workers to be part of unions. Your reaction to that . Thats right, stuart. By the way cheryl did a great report what is happening in the country with respect to union trends. By the way, stuart, im not antiunion. I have no problem with collective bargaining and if workers want to get together to form a union and collectively bargain with a employer i think that is their constitutional right to do so. Whats at issue here, charles, is whether an employer, the government can force someone to join a union and that is what biden is saying. We have 27 states right now, stuart, 27, charles, including by the way michigan which was the cradle of the Union Movement that have moved it right to work which says that the union cannot force you to join and pay union dues. I think that is where the American People are. That is not where joe biden is. Charles yeah. It is ironic too. Cheryl laid out the states with the highest union representation, all with the highest unemployment rates in the country. Of those 27 states, 24 voted for trump. They all have much lower unemployment rates. I want to switch gears to another battle joe biden talked about yesterday. I got to tell you, i it is goino be tough, he will have a fight with progyes, sir serves on canceling student debt. He mentioned the number, 10,000. Aoc went ba legs tick, blasted him in a series of tweets. Things were bad for me, so they should stay bad for everyone else is not a good argument against debt cancellation. Also had another tweet that had 400,000 likes free college. Elizabeth warren got in on the act as well saying executive action was needed. Student loan debt is holding back a whole generation from home buying, starting Small Businesses saving nor retirement. All things we reon to grow our economy. Are they right, steve. They cant buy a house if they have student debt. What do you say to that . Actually he is partly right here. The greatest scam in america today, bar none the amount of money these colleges and universities are charging our families. It is outrageous. It is bankrupting a lot of families. It is causing kids to graduate with not 10,000 but 50 to 100, 200,000 of debt. That is outrageous. What i would like to see joe biden do, i wish donald trump had done more of this, is really get these universities to cut their tuitions. Moores law, charles, when it comes to universities, every university in america should cut their tuition in half. They can do it because theyre such wasteful institutions especially now. I mean, charles, how can they possibly defend charging families full tuition when they dont even have inclass teaching now . Charles i know. Hey, my son goes to college in london. He is right now in the states taking his classes on computers. Im paying for everything. You pay full tuition . Charles yes, full tuition and everything. Im paying for everything. London prices by the way. Let me ask you this, though, do you agree the 1. 7 trillion should be writen offer . Who pays for that, the loans already outstanding . First of all the taxpayers shouldnt write it off, the universities should. The people that ripped off these people. You have University Professors teach three hours a week with tenure, they make 300,000 a year. It is outrageous. We have to think of all the Student Loan Program is what is facilitated these escalating tuitions. Exactly. Isnt it interesting, two areas of runaway prices in the American Economy are College Tuition and health care and because the government runs those. Charles yeah. Also by the way, they took off under the obamabiden administration. Steve, love having these conversations with you. Thank you very much, my friend. Fresh off her questioning of Mark Zuckerberg and jack dorsey senator Marsha Blackburn will give us her take how the hearings have gone so far. Is she convinced anything is going to change . The hearing called in part because twitter went to war with the New York Post over that hunter biden bombshell report. The papers editor is glad they held their ground but the damage is done. He will explain why after the break. For over 30 years, lexus has been celebrating driveway moments. Heres to one more, the lexus december to remember sales event. 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Reporter charles, the hearing a little more civil than expected. Still a lot of pressure was put on ceos of twitter and facebook why they censor some and not others. Listen. What were going to see today is that mistakes happen a whole lot more, almost entirely on one side of the political aisle rather than the other. Reporter both ceos admitted they have had problems and made mistakes in limiting the distribution of blocked materials. Democrats on the committee pushed for more censorship pointing to tweets by President Donald Trump saying he actual won the election but senator josh hawley who says he has a Facebook Whistleblower uncovering collaboration of censorship between google, facebook and twitter. Mark zuckerberg testified that he had to consult with his team before answering. Here is zuckerberg on this. Were also clearly not like a news publisher in that we dont create the content and we dont choose up front what we, what we publish. We give people a voice to be able to publish things. So i do think we have responsibilities and it may make sense for there to be liability. Reporter both zuckerberg and jack dorsey agreed that changes need to be made to section 230 that gives social Media Companies immunity. Senator ted cruz cutting to the chase calling all of the companies publisher when they silence the New York Post or reporters about what the New York Post has actually reported there. No conclusions came from this hearing. Just more pledges of transparency from the tech moguls and vows to change regulations from lawmakers. More hearings will happen in the future. Charles . Charles edward, thank you very much. Now twitter specifically is under heavy fire for how they treated that hunter biden email story right before the election. Even choosing to censor the New York Post themselves. Rob imari is the postop ed editor joins us now with reaction. Your twitter ceo saying in hindsight blocking the newspaper and the story was an error. Take a listen to what he had to say today. We were called here today because of an enforcement decision we made against the New York Post. This resulted in us blocking people from sharing the New York Post article publicly or privately. We admitted this action was wrong and corrected it within 24 hours. We informed the New York Post of our error and policy update and how to unlock their account by deleting the original violating tweet which freed them to tweet the exact same content and news article again. They chose not to. Charles of course he also said the story would not have been as popular if twitter had not blocked it. Rob, he went on to admit about the standoff that you had. You stood on principle, why should a paper jump through hoops because after problem they admitted. How do you feel about this now . Do you think they actually learned a lesson and are going to turn a corner here . Charles, i dont know where to start because even in that little clip that you made there was a material misstatement. This was under oath. They unblocked the original story within 24 hours that had to do with Hunter Bidens ukraine dealings. They continued to block with more time about hunters china dealings, which fox news subsequently corroborated corroa on the record source, Business Partner of hunter. When you hear material misstatements under oath like that, you just dont imagine any kind of change. The fact is that the policy was not, we were not in violation of the policy to begin with. This was not hacked material to begin with. There has been plenty of other leaks in other stories that cut against the President Trump that twitter or facebook never censored. So no, this is not satisfying and these people have far too much power and increasingly they seem to be using the power, it is a oneway ratchet. As the other senator pointed out always tend to be conservative stories that get to be silenced this needs a political response now. We cant rely on their own assurances. Charles well seems like theyre trying to go on a more Charm Offensive this time around, yeah, we agree, there should be changes in section 230. We made mistakes and were doing this, and were doing that. So to me its clear they understand what is at stake here. Everyone is waking up to the problems. Do we have the political will in d. C. , particularly after this election to really make them change their ways, going as far as possibly even breaking them up . You have political will in the u. S. Senate with young guns especially like senator josh hawley, the ambitious senator from missouri. He brought up a facebook insider as you saw, really pressed them with probing questions from other senators didnt have because they dont have that kind of a source. Zoo that is very impressive. But unfortunately looks like were headed for a biden administration. The administration is staffing up and transition ranks with alumni of these companies. Frankly from my point of view they owe their reelection to the fact that big tech censored an antibiden story two weeks before the election. As far as the executive branch and democrats are concerned, i think well only see more calls from the federal government, executive branch and democrats in congress for censorship, for silencing conservative voices and making social media into an even more restrictive environment, far from the dream of free information that was imagined in the 1990s of an internet of freedom and so forth. Charles all i can say is we salute you and the stance you took was absolutely remarkable. You gained a legion of fans. I was already one but i just want to check it off, appreciate it again. Thank you for coming on the show and keep up the good fight. Thank you. Charles retail sales coming in a little less than expected but the consumer we know is really the key. Well have a strong 2021. What will release them from all the money theyre sitting on . A year ago today china reported patient zero contracted covid19. With beijing welcoming to the white house, what does it mean for our future relationships with them . Well examine that later in the hour. Td ameritrade designed a firstofitskind, personalized education center. Oh. Their awardwinning content is tailored to fit your investing goals and interests. And it learns with you, so as you become smarter, so do its recommendations. So its like my streaming service. Well except now youre binge learning. See how you can become a smarter investor with a personalized education from td ameritrade. Visit tdameritrade. Com learn our own hopes and dreams. Well pass many milestones. Moments that define you. And drive you. To achieve even more. So, celebrate every one. 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Com for risk information, instructions for use and free trial terms and conditions. Consult your Healthcare Provider before starting on omnipod. Simplify diabetes. Simplify life. Omnipod. Charles well this morning retail sales came in less than expected. While there were really no glaring red flags, the fact of the matter Consumer Spend could be stalling. That is major concern. I said my investment thesis in 2021 based on all the dry powder out there, household, 2 point 6 trillion. Businesses raised trillions of dollars. My only caveat is the catalyst. Has to be combination of vaccine approvals and distribution, another round of stimulus and of course reopening the economy. Our next guest says there will be a growth bomb but it didnt need additional fuel just a fuse to be lit. Jim holt. Good to have you. First your thoughts on Economic Situation were in right now. Retail sales number, housing, home confidence numbers. Of course the earnings numbers . You know i think all in all it is still pretty strong. We had really strong momentum of course in the third quarter, charles. I think it is slowing no doubt from where it was here in the fourth quarter. But i think it is still pretty good. Even though retail Sales Numbers today. There was a fairly significant revision from the previous month. I think retail sales if they stay flat in november and december for example, they will still be up at a 7 annualized rate for the fourth quarter. So there is quite a bit of strength going into this. As you say, if you look, look at housing, National Association of homebuilders surge today in the report, industrial production, utilization rates were strong. So all in all i think were slowing and covid is certainly going to slow us a little more if it stays at this pace. I still think we come in around that 4 area here for the fourth quarter. Charles so i was reading some of your recent comments and of course you agree about 2021 being propelled in part by a much stronger consumer sitting on trillions of dollars. You dont think though, we need another stimulus to unleash that money, right . I dont. I mean, i think odds are were going to get one after the new Administration Takes over. I think we will. But i think what is greatly underestimated is that there is a well established relationship historically between economic policies and their ultimate impact on the economy. There is generally a lag, a long lag of a year or more before policies, whether it is monetary or first call policies, ultimately their impact. We are not even to that window yet, charles. Were going to get to the window as we move into next year in the first quarter. I think what people are underestimating is, the policies weve already dumped on this economy. 25 money growth. 15, 16 deficit to gdp that might take a full year into next year before really comes home to roost. So it is not just about new stimulus. It is about the lagged impact coming from the old stimulus. Charles so having said that with less than a minute, i have to fast forward then, are you concerned about inflation . Who loses prices . Post Office Prices went up. Feels like anecdotally we hear about prices going up. Is that a concern we should factor into investing right now . I think its a concern for the out years to some extent. If i combine monetary, fiscal policy as a percent of gdp here, it has never been this large going all the way back to 1900, charles, in combination. Were providing more stimulus than we did in world war i, the great depression, world war ii. It is amazing. So to have some fallout from that down the road is probably likely. But i dont think it is an issue for 21 because 21, if inflation starts to climb a little bit i think it will actually improve confidence. If yields go up it will actually stoke animal spirits but 22 and 23 could be an issue. Charles hopefully we will talk a few times before then. Jim, always appreciate it. Thank you. Of course there have been a lot of winners and losers since the president ial election but it is hard to argue few have done better than china has. Well explain right after the break. When i was in high school, this was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. And this town said not today. Adapting. Innovating. And tlsetting the course. Oday. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Charles joining me now one of the senators who was able to grill the ceos, Marsha Blackburn. Just in fact wrapping up her questioning. Senator, i had the volume down but i saw the hand moving. It looked like you were pretty fired up. What was the gist of your conversation with these gentlemen and what did you take away from it . Charles, our frustration with these guys is that they have double standards. You know, it is like jack dorsey said World Leaders need access to his platform. So i asked him in the Commerce Committee hearing hearing if he considered donald trump to be a world leader. He has censored donald trump 65 times but he has not censored the ayatollah for shouting death to america on his platform . So i went through a list of countries and showed how they acquiesced to statesponsored censorship in these countries. But here in our country, who do they censor . Americans who are exercising their free speech. These guys have proven that they will not be accountable. They will not accept responsibility, they will not deal with their employees who are content moderation managers as they call them and they allowed the censorship to subjectively continue without having a basic, transparent, accountable format that says this is how we will censor and this is how we will not. Charles right. So since they cant do this for themselves, and theyre smart people, they have built enormous businesses. It is just they do not have the discipline and the will power to regulate themselves. It is going to be up to us to regulate them. Charles you also were pretty upset about the fact that theyre driving this cancel culture. Yes. Charles it is part of free speech but do you see, what is the other parts of it, the deleterious impact to our country from this cancel culture that has you so concerned . Right. When you look at what is happening with the cancel culture, we know that it shuts down any kind of robust respectful, bipartisan debate. When you do that, it leads to intellectual isolation. When you do that, it leads you to only one viewpoint can prevail or be tolerated or open for discussion. Charles right. That leads you straight down the path to socialism. These guys have got to get their content moderation policies under control. As i said they have proven unable to do it. So we will have to do it for them. Charles your democratic colleague opened this up, richard blumenthal, i got to tell you lit into the ceos, comparing them to the cruelest apcallists of all time. Take a listen. You have built terrifying tools of persuasion and manipulation with power far exceeding the robberbarons of the last guilded age. Charles now i got to tell i think the socalled robberbarons ushered the does real age, consumer prosperity. I thought it was odd comparison. These folks are much more richer, much more powerful, many ways, senator blackburn, have much less a positive impact on society. What they are doing is refusing to accept risk and responsibility and they are reaping all of the reward in the form of controlling eyeballs, being paid for the number of eyeballs that they control every day. And their data mining, their data harvesting. Theyre monetizing your information. Theyre monetizing your virtual you, and they are enriching themselves off of that product that theyre selling which is you. Charles senator blackburn, i appreciate your passion. I really, i appreciate the fact that you took the time to come talk to us first. You got it. Happy to join you. Charles see you real soon. Thank you. Yes. Charles in a detailed policy document President Trumps state department is warning the Incoming Administration that it must address a Chinese Government that is intent on displacing the United States as the worlds most foremost power. Now listen, there have been a lot of winners and losers since the u. S. President ial election but china is certainly one of the biggest. Look at their currency. It has rocketed against the u. S. Dollar. In the meantime theyre tightening their grip on hong kong. They signed a pacific rim trade pact and adding more belt and road partners. President trump followed decades of complaints. We complained about this stuff and tried to get a fair economic relationship. He focused on security and military risk. According to axios he is not finished. I want to bring in senior fellow at the Hudson InstituteRebecca Heinrichs. Rebecca, a lot unpack, your thoughts as we hit the oneyear anniversary. China admitting they have a covid19 patient and where were going the transition of perhaps a new administration . Never forget the pandemic were suffering through is the fault of the Chinese Communist party. Theyre still not clear with all the information we need to deal with the virus to not have Something Like this happen again. What youre Say Something interesting, charles. China is obviously anticipating with a incoming biden presidency, administration, they will have an easier time. Theyre basing this on the years of joe bidens record of having a conciliatory approach towards china, believing that having free market, kind of trade with china will result in, in china opening up and becoming more liberal politically and economically. Obviously that has not happened. We have enriched china at the expense of americans and now they are the preeminent threat to americans in our way of life and so joe biden now, ive been told is going to try to take a tougher approach to carry on some of what President Trump has done for the United States but it is remains to be seen what he is going to do. Obviously the chinese are banking on and hoping that his previous record means that theyre going to have an easier time. Charles now this week a couple of days ago, henry kissinger, who sort of birthed this relationship or unleashed china if you will, said that there is a chance that our relationship, that our acrimonious relationship could lead to a confrontation similar outcome to world war i. How does that complicate things . Well that is exactly what the Trump Administration is trying to prevent. So you have seen President Trumps administration really kind of move us, make a Seismic Shift and put us on a much stronger footing to realize the threat from china and to take on china a variety of fronts, not just on trade but on, you know, intellectual property, on kind of reshoring, getting some american industry back to the United States. Increasing our sovereignty. Also deterring what we hope to prevent which is a military conflict in the pacific and part of that means defending taiwan. Making sure that taiwan is strong so that we disabuse the chinese of any kind of a belief that they might have being aggressive against taiwan, like what they have done in hong kong would result in anything other than harm and, you know wouldnt be worth of risk to china. Charles rebecca, i have got 30 seconds but i do have to ask you about drawing down troops in afghanistan and iraq. Your thoughts on that . Well you know, i think our acting secretary of defense miller, he was one of the first soldiers into afghanistan in 2001. He was one of these horse soldiers. He led some men into combat. Some were on horseback to seek justice for our fallen countrymen after the 9 11 attacks there is some kind of a poetic i think poetry to this he will be one of the last men out. Im part of the 9 11 generation thought Public Service because we want to take on the terrorist threat. So i applaud the Trump Administration for finally kind of winding down. Making sure were still killing terrorists and protect americans and american interests but were winding down the scope of what were doing there. Were bringing more american servicemembers home. Charles i agree. Lets bring home our greatest treasure of all. Rebecca, thank you very much. Thanks, charles. Charles the pandemic has enhanced our use and dependency on technology. That allowed Big Tech Companies to grow bigger and bigger. 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A licensed humana sales agent will walk you through your options, answer any questions you have and help you enroll over the phone. Plans with a zero dollar monthly plan premium are available in many areas. Call now and well also send this free guide. Humana, a more human way to healthcare. Charles social media tigtans facing the heat on capitol hill today. The question is should these communications giants fear [ inaudible ]. I want to ask distinguished fellow of harvard law school. David, before we get into the part of investing on technology, just your thoughts on the hearings today and whether these two gentlemen, jack dorsey and Mark Zuckerberg, do they seem contrite, do they seem like they have turned the corner . Do you believe we should trust that they can selfregulate themselves . We are seeing these companies have gained so much power that our political leaders are fearful of them. The fact is that it was never conceived that tech monopolies would build platforms that would have Network Effects that would squash the competition. This is what i explain in my book. The entire rules of the game have changed. This is not like the old monopolies and the old competition. The entire name of the game has changed and things are done much differently. These companies have so much power they dont have to care anymore. This is why zuckerberg can say no, i wont do it. Dorsey, the same thing. They have all this power now. Charles but in the meantime, we saw snap had, i know a small company, but snap had great earnings the other day. Feels like its coming on. Tiktok has exploded in popularity. Then you have ecommerce plays out there. Are you saying theres no way the private sector with people saying im leaving twitter to go to parler would not make a difference at this point . Well, heres what happened. Before you could have david defeating goliath. Now we see the big have gotten bigger. China has been pouring billions of dollars into promoting tiktok. Parler, there are about ten million users right now. They will get to 20 million and facebook will come along and offer 1 billion and buy up the company so it can quash the competition and own it. Thats the name of the game now. Charles ive got 40 seconds. Ultimately the government will have to find a way to break these companies up . We have to break these companies up because the rules have changed. We now have to realize they have inordinate power and you need to now have tight regulations and you need to break these companies up. They have become dangerous monopolies. Charles i wish we had more time. We had a lot of breaking stories. I always appreciate speaking with you. All right, folks, we are off the lows significantly of the session as i hand it over to my colleague, liz claman. Liz, do you think we can actually have enough momentum going into your last hour to finish in the green in all three major indices . Liz i dont know. Maybe. Ill be the gossip columnist of the stock market in this hour. Sure. Well see what we can do. I get jill a lot. People confuse liz with the name jill. Call me whatever. Just call me, right . Pfizer trying to push the market comeback over the finish line that charles is talking about after its ceo said moments ago that it is quote, very close to