Climate. Maria thats right. You saw recently in new york city theyre mandating pizza ovens have certain type of carbon emissions, if they dont they have to get rid of them. We have businesses that have been around for generations and now are put out of their place. Were finding that what lot of there was a guy the other day who bought a electric car, he had to undergo 130,000 worth of fees to get maintenance and it was in the shop. Its one of the things that theres so many things that havent been tested to the full extent. I think if youre a consumer, hold off as long as you can because hopefully by the time all of these regulations start to be enforced by the deadline, theyre all gone because we have someone sensible in office. Maria theyre using the securities and Exchange Commission as the agency to mandate certain things to your point in terms of t the Climate Change agenda. As relates to ev, im a free market capitalist. I think evs are the future. I think well probably naturally gravitate to evs over the course of several years. We dont need it shoved down our throats. I have a client who lives in chicago flew out to San Francisco to get an ev. He decided to drive it back to chicago. Because of the lack of charging stations, as soon as he got to chicago he traded it in. Maria lauren. Lets take a look at add a justed earnings per share, better than expected. They came in in at 1. 84, the expectation was 1. 71. Revenue, sales, also stronger. 161. 63 billion. The expectation was 160. 27 billion and even the comps, same store sales, coming in at a stronger than expected 6. 4 . They had been 7. 4 in the prior quarter so expected to fall much worse than that. So all in, at first glance, maria, this is a pretty encouraging report for walmart. Some nice reaction in the premarket. Stock is up 2 . Its up 12 this year. Looking for any commentary now about how the consumer is hanging on. Of course, walmart is in a sweet spot. You have americans with more income coming in to buy groceries, a core item at walmart and they can sell them other stuff as well and also any commentary on backtoschool and the holiday season, ill keep looking. Maria weve got Comp Store Sales up 6. 4 is what im looking at and its also raising its fiscal year outlook. Thats also a positive. For the second time, maria, yes. This year. For the second time this year. Maria and the stock is moving on all of this, up 3 on walmart. Lauren, thank you. Were going to be watching walmart. This is setting the tone for markets this morning. Of course, walmart is a dow component, dow industrials up 81. Its time for the word on wall street. Joining me is managing director of private wealth advisories, kathy enwhistle, walter todd and mark tepper. Walter, let me get your reaction to the walmart quarter. We heard yesterday that traffic at target was down 5 . Looks like all that walked across the street and went to walmart. So very Strong Quarter with the Comp Store Sales above expectations. I think theyre benefiting from the tradedown. We heard discretionary items at target were down, walmart benefits from having less discretionary, more essential items. I think theyre hitting on all shslenders. Maria Comp Store Sales up 6 andahalf percent for the quarter. Shares of target closed higher than expected. We had a better than expected quarter. They missed on sales and they lowered the profit goals for the year following the backlash they had for the pride collection. June was a bad, bad month for them after the pride backlash. That was challenging for target. Maria the stock is up almost 3 right now you. I would assume thats probably a relief rally, probably a lot of shorts involved in target that had to cover some of their positions. I dont know that thats sustainable when sales are down 5 year over year. Sounds like not only did those shoppers leave target and walk adross walmart but theres across the walmart but theres a tradedown occurring as well. You look at t. J. Maxx, another beat and a raise for them. Were seeing a consumer that is price conscious, shopping for valley. The consumer is spending. We know theres a trillion dollars in credit card debt, credit card Interest Rates are going up, the student loan payment comes back online in october and the average payment is 380 a month. Theres certainly challenging issues for the consumer in the future but the consumer so far has remained resilient. However, they are now a little more price conscious when it comes to spending. Maria more info for the fed, kathy, the Federal Reserve releasing july minutes yesterday, saying inflation could be a cause for further tightening because the inflationary risks are still there. Majority of members saw upside to the economic pressure. Look at yields, the 10 year is at the highest level in 15 years, talking about 4. 30 . Havent seen that since 2008, kathy. Absolutely. Its actually a great time any time you see dislocations of the market or anything changing, its a great time to take a look at reconsider what you should do with your portfolio. The yields, everybody is in shortterm cash, the yields are high shortterm. Start moving your bonds portfolio out longer, take some of that cash and put it longer because we are going to see a transition at some. Maria what do you think this means for the economy . With rates going higher doesnt that further squeeze consumers and business as all of this debt rolls over . Absolutely. We were speaking earlier about the consumer. Theyre going to pay higher Interest Rates for credit card debt. Thats going to be an issue. I would say the corporations when its time to roll over their debt theyre also going to pay more as well and that squeezes profits. Maria what do you want to do with your money at this point, given rates are now higher and economy is slowing and we havent really felt the the impact of so far 11 rate hikes. The full impact. No, yeah, absolutely. This is just amazing to see the economy so resilient. The atlanta gdp now estimates up over well over 5 , rates continue to move higher, really surprised to see futures up this morning. To kathys point i would say terming out some fixed income makes sense. If you look at corporate, you can get 4 to 6 in a five to seven year corporate with Investment Grade rating. Thats very attractive. Also be aware that the valuation, the top of the stock market we think is expensive so we would look down the cap scale in terms of equity exposure and portfolios. Maria we will leave it there. Kathy, walter, great to have you. Thank you for being here. Great word on word on wall street. Mark is sticking with us. Were happy about that were looking ahead to the 2024 president ial race. 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I got into debt in college, and no matter how much i paid, it followed me everywhere. So i consolidated it into a lowrate personal loan from sofi. Get a personal loan with low low fixed rates, and borrow up to 100k. Sofi get your money right. Maria welcome back. Time for the hot topic of the hour. New fox news poll giving the lallatest snapshot. President trump has the lead. The big story is the rise of vivek ramaswamy. He remains in third place with voters but hes gaining ground on ron desantis who saw support fall to 16 , down from 22 . Rram ramaswamy sees a 6 point gn over the same time interesting how well vivek is doing. The other davey v day vivek js on the program. I said what are you expecting in terms of President Trump. Do you expect youll be in President Trumps cabinet, have you spoken to trump about it . He said no, i havent. And i havent spoken to trump about being in my cabinet. And i just hes so smooth. What a great answer. There was one particular interaction he had with a voter in iowa this week that went viral that i think really shows why vivek is doing so well in the polls. It was a very respectful conversation, an lgbt activist who asked him do you support same sex marriages. He had an incredible answer. He was very respectful. At the end they shook hands and respectfully disagreed and went their separate ways. Maria i saw that. One of the things he said in the answer that really stuck out to me and i think that its also part of the reason why that Exchange Went viral is he said something about that the American People are sick of the tyranny of the minority, sick of feeling bullied by elites who dont care about their wellbeing on anything from economic to cultural issues and that is a message that so Many Americans are feeling right now. They feel it in their wallet, they feel it in their kids classrooms. And i think that thats part of the reason why you see him gaining ground right now. Maria what do you think, charlie . I think vivek is so charismatic. Theres something about him when he speaks, you cant help but listen and really absorb what hes saying. I think the way he addressed the pan sexual activist at the iowa state fair spoke volumes about what he stood for. Then you saw him rapping eminem on the stage. He brings a cool factor all of this. You look at the difference between him and ron desantis and the way they were interacting with voters at the state fair. You have vivek on stage rapping eminem and talking to people on a human level. Ron desantis is standing behind a counter serving eggs on a stick, being awkward as he normally is. You see such a difference. Vivek every day, day in, day out, he volunteered to help trump with his legal troubles in Fulton County, saying i will write a brief for the court, saying it has a negative effect on due process. Hyou cant help but respect him. Maria hes bringing in a younger voter, leading the charge for young people. There is criticism over the age of politicians. Maria thats why its important. He has the ability to appeal to people of all ages which is incredible. To charlies point, vivek is a doer. Most politicians are all talk, no walk. All talk, no walk. This guy, he walks the walk and thats really impressive and i actually have the three person race a little closer if i look at the betting odds where people are actually putting money on who they think will win. Trump is 59 , desantis at 16 , vivek at 15. I mean, hes right there. Maria hes right there. Neck and neck with ron desantis. Maria i dont believe the next issue, President Biden is still beating President Trump in a hypothetical matchup. Is this really . 44 to 41 , 15 of voters unsure who theyll vote for. I find this really hard to believe given the state of the country and the impact of the Biden Administrations policies, charlie, what do you think . I think theres so many people in the gop race for candidacy that its getting a little muddleds perhaps. I think just due to the fact that theres so much going on with former President Trump and theres so many candidates who wont necessarily address it headon, for example, ron desantis, were all just waiting for him to take a stand and say this is not right, just like vivek has done and i think the fact that he doe ma doesnt mayn some peoples minds makes it more unclear. Its not a race against the candidates within your party. Its ultimately against joe biden. Some have lost sight of that. It may deflect voters, maybe theyre unsure where they want to put their money. Maria what do you think . I dont take the poll seriously. Maria im not buying it. Theres an ap poll out this morning that says it shows what weve been seeing for quite a while which is that voters are disaffected with candidates from both parties right now. Get this, 75 of voters say they dont want go joe biden to run again, compared to 69 for donald trump. Thats a significant difference, especially considering that donald trump has been indicted four times. Maria unbelievable. And the media constantly harassed him and you still have less voters who think i mean, they clearly dislike joe biden more and so i dont take that maria do we think joe biden will ultimately be the nominee . Cool. Thats a tough one. Maria it is a tough one. Could you imagine him leading the country for another six years, thats who it amounts to. Maria if not him, who . Please not kamala, for the love of god. Thats what republican candidates need to say is a vote for joe biden is a vote for kamala harris. Maria what about gavin newsom. I dont think he can sell it. I think he can sell it. Theres a reason why hes putting himself in the race. He wants to debate. Theyre clearly for a reason. Maria well see. Weve got new fox bo bomb fox polls, showing former President Trump dominating the field, despite the indictments. Well talk with carlos jiminez, weighing in on that when we come back. Stay with us. A change will do you good. Will do you good. A change will do you good. I think a change. A change will do you good. Will do you good. A change will do you good i have type 2 diabetes, but i manage it well. Jardiance its a little pill with a big story to tell. I take oncedaily jardiance, at each days staaart. As time went on it was easy to seee. Im lowering my a1c. Jardiance works 24 7 in your body to flush out some sugar and for adults with type 2 diabetes and known heart disease, jardiance can lower the risk of cardiovascular death, too. Jardiance may cause serious side effects including ketoacidosis that may be fatal, dehydration, that can lead to sudden worsening of kidney function, and genital yeast or urinary tract infections. 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A new poll finds 51 of voters think the dojs treatment of trump is motivated bipartisan politics. Joining us now, congressman carlos jiminez. Thanks very much. Weigh in on all of this, your take. Gee, what a coincidence, one day before super tuesday, but its not political. Its just coincidental. I doni dont know why we put sh stock into this may be political. Its a prosecutor from an area where 80 of the people voted for biden so its popular to go after the former president and so, yeah, it smells like politics. If it walks like a duck, talks like anand quacks like a du, its probably a duck. Maria i dont think anybody can say how this will play out. Four indictments and the guy is in the lead in terms of the president ial election. This will all play out in the middle of campaign season, as you know. Yeah, the day before super tuesday. Whats your take on these trials . Will she get a trial in march of next year . Its doubtful she can get a trial in march but they indicted so many other folks and so everybody has their constitutional rights. The right to a speedy trial is actually the right that is given to the charge, the accused, not the state. And so the accused have the right also to prepare adequately for their defense and i dont believe that you can get a trial thats accusing 20 people in six months, i think thats stretching a little bit. Theyre going to try to do their best to do it. Lets see what the judge says. It woulwould be unfair to have e trial that soon. Maria the former president is dominating the gop field, 53 support. Congressman, you were with President Trump and several other lawmakers at the iowa state fair over the weekend. How was the former president . Tell us about the state fair and the reaction to trump in the middle of all of this. Well, he was a clear winner. He had the biggest crowds, most enthusiasm. People wanted to shake his hand, wanted to be close to him. The president was full of energy. Even though he knew that something was going to come down from Fulton County, he still hes pretty good at compartmentalizing things, putting things on one side. He knew it was coming but hes laser focused on becoming president of the United States again and on his campaign and so first time for me in iowa, first time for me in the iowa state fair. Its quite an affair. And so i looked at those crowds and he was by far the most popular figure and by far the most powerful political figure there and people just want to be around him. So yeah, clear cut winner in iowa was President Trump. Maria heres kaley mcgee white. I want to get your take on another poll out this morning that shows 49 of voters think the charges from the Justice Department from jack smith specifically are politically motivated against donald trump and also that show that 48 of voters are not confident than the Justice Department is able to operate in a nonpartisan a manner. My question is for you, for you, is how do you and your colleagues, our elected lawmakers who are tasked with the oversight of the executive branch, how are you going to take voters concerns to the executive branch . I think we already are. Jim jordan is looking at the weaponization of the fbi, doj and every step t doj takes lends more credence that we need to look deeper into whats going on doj. Daniel ortega won reelection in nicaragua last year by putting his opponents in jail. Looks like it worked well for him, maybe it will work well for me too and thats what the American People are looking at. President biden and doj apparently are following the trail of Daniel Ortega and his strategy of winning the presidency again and it appears to be all political. All of this stuff, they want to have these trials as soon as possible, right in the middle of election season. Hey, are you looking for justice or are you just looking for a way to derail your the lealeading opponent, your leadig political opponent. Most americans, Many Americans are thinking that, yeah, this is purely political in nature. We in the house are looking at the weaponization of the fbi and the doj. We need to continue to dig and im sure look, its pretty obvious whats happening here in the United States and its pretty sad whats happening here. I never thought in my wildest dreams that i would be looking at whats going on right now with the doj and fbi. Maria its extraordinary. At the same time, President Biden is getting all that he wants. Hes pushing through all of his policies. Hes celebrating the Inflation Reduction Act one Year Anniversary this week. He did so at the white house yesterday and hes claiming bidenomics is restoring the american dream. Former President Trump joined kudlow for an interview yesterday, explaining what he thinks bidenomics is about. Watch this. Inflation was caused in my opinion by energy. Because its so big, energy is so big, its like all encompassing, everything, you make donuts and t ovens and trus that deliver them, no matter what you do its so much about energy and when they stop drilling, you know, we had it going like nobody. You were a big part of it. You had a big thing going, selling all this to europe and we would have made a fortune and it was so sad to see what they did. They cut it off. And again, we were drilling much more. Maria larrys full interview today at 4 00 p. M. Eastern, congressman, it is the Climate Change agenda that is undermining economic growth, is it not . Look, i call it the chinese dependence act. What were doing is we are cutting our noses, cutting our production of energy and becoming dependent on china. Why would you do that . This is not the ira is not the Inflation Reduction Act, its the inflation enhancement act and theres trillions of dollars of american dollars going to make us more dependent on Chinese Energy sources and at the same time destroying american energy. It makes no sense. Unless of course you look through a different lens, right . Who was giving hunter biden and biden family millions of dollars . Chinese energy companies. Wow, hey, what a coincidence. So all of this is kind of linked together and things that kind of make you go hmm, why would President Biden do these things . Well, the only reason that he would do it, maybe hes compromised. Maybe the chinese having on him. Thats why these policies that were passed by the way in the last congress, not this congress, were stopping those policies in this congress. You know, were meant to enhance our dependence on china. Again, makes no sense. Its actually running against the American People, against American Interest. Maria its pretty incredible that all of this provocation from communist china is met with zero response from this administration. Whether you have a surveillance balloon surveilling american citizens and our military installations or police stations in america, massive hacking of our you know, government agencies, the state department and the commerce department, they hacked into it as Antony Blinken was making his way to beijing and then, i mean, the real in your face lack of respect, our treasury secretary goes to china and they serve her psychedelic mushrooms and she laughs about it, she actually took hallucinogenics in the mushrooms. Lets watch janet yellen explain this away. I was with a large group of people and the person who had arranged our dinner did the ordering. There was a delicious mushroom dish. I was not aware that these mushrooms had hallucinogenic properties. I learned that later. Maria congressman, can you imagine if a delegation from china came to the u. S. And u. S. Officials fed them hallucinogenic mushrooms . I mean, what does this say about the way communist china views america, to do this to the u. S. Sitting treasury secretary . Well, look, they dont respect us. Theres no need for them to respect us. Our president , look, it makes sense to me, our president with everything thats come out with our investigations into the money, how much money had been flowing into the family, into the biden Family Enterprise from these adversary countries, especially china, none of this is a surprise. And when this all started and people started saying why would he do this, why would he do that, and i said a long time ago, the only reason he would do this or that, things that are against the American Interest are because hes probably compromised and im pretty ive gotten to the point that he is compromised so all of this makes sense. The chinese know they can laugh in our face. We continue to please, china, please have a meeting with us, please allow our secretary to o over there and talk to your secretary and see what we can do to smooth things out and chinas laughing all the way and making fools of us and this administration does nothing to enhance or restore American Integrity around the world and how the world views america. Its also very important. And the confidence that we have to give to our allies that we will stand up to the threat that is the communist party of china. Maria yeah. But were not. Congressman, its good to see you. Thanks very much for being here. Carlos jiminez in florida. Well be right back. Stay with us. phone typing message sound message sound shut it down blackpink in your area shut it down whatwhatwhatwhat . man what if my type 2 diabetes takes over . woman what if all i do isnt enough . Or what if i can do diabetes differently . avo now you can with onceweekly mounjaro. 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Joining us is Stephens Incorporated executive Vice President , former senior sad advisor, mary kissel is with us. Youre probably not surprised with this story. Whats your take of the level of surveillance underway with regard to chinas access to these cellular modules . Well, first of all, maria, you have to say it is amazing that were even having this conversation. Think about where we were five years ago. This is a bipartisan concern and so its terrific that the China Commission on capitol hill is writing to the fcc and raising this concern, the logical next thing to look at after we had the huawei conversations level years ago. That being said, what we need to focus in on here, maria, is Critical Infrastructure. Do we care if the chinese can get ahold of your smart refrigerator or do we care they have access to first net and First Responder network. Obviously we have to prioritize what we Pay Attention to. Our government has limited resources. So we really need to prioritize when were thinking about this kind of threat, where were going to train attention and that bleeds into corporate america, right . We have clients asking us all the time, all right, were starting to see restrictions on things like semiconductors, hey, mary, whats next . And so you have to think logically. Governments going to prioritize those things that are most important for our National Security so semiconductors, quantum computing, a. I. , First Responder net, Critical Infrastructure in the United States, these are things that i think are going to be on the political agenda. Maria its a great point you make. And the president recently came out with an executive order to limit investment by americans into critical areas like a. I. And quantum computing but most people ive spoken with say that this executive order doesnt have teeth. First of all, its not taking effect for a whole year. Secondly, theres a whole Public Markets part of this that has been totally left out. You still have an opportunity to buy all of these companies that are tied to the Chinese Military in a whole host of etfs, in the thrift fund which weve spoken about so many times, the 401k for government employees, mary. Yeah, and maria, for that you can thank Something Else you talk about all the time which is the whole track of banks, the wall street banks and the Treasury Department which is populated by people from the wall street tanks. Janet yellen may not come from Goldman Sachs like the last several secretary, republican and democrat but she had a lot of speaking fees from the likes of citadel and others so i see her in exactly the same light so why did that order look like swiss cheese . Why were they all these carveouts . Its because the banks want to continue making money when they can from communist china. We dont do that. Were a private institution. But as long as treasury is dominated by the goldmans, the jp morgans, the Morgan Stanleys of the world, this is what youre going to see. Ive got to say, maria, its a shame because there are people, even by the National Security council who are really hawkish who work to put august together, this upcoming really amazing japan, south korea discussion that will happen at camp david. I mean, these are important steps forward but we really need the president to say, hey, Treasury Department, no more handouts for wall street. Weve got to get serious not just for the next election but on behalf of all americans because National Security is not a partisan issue. Maria i mean, especially since the ccp has been so blatant in terms of undermining the United States. Now Chinas Commerce Ministry say its assessing the impact of bidens executive order on limitations to u. S. Tech investments, saying it will take, quote, necessary counter measures. The Biden Administration is readying new tariffs were told on can making metal which is imported from china, germany and canada. This will be the highest tariffs with a levy of over 122 of their import value. But mary, here too, i dont know if im buying this because, you know, we talked about this executive order that he sat on for so long. How long are we going to sit on this idea of tariffs . I know initially you were not a fan of tariffs but then you got working with secretary pompeo and i think you changed your thinking a little. What are your thoughts on tariffs . Because the Trump Administration put lots of tariffs in place and cost china, what, hundreds of billions of dollars. Yeah, well, i think what i realize is you need a big stick and for the Trump Administration tariffs were the big stick. The problem with tariffs is just a problem that we have always had and will always have, maria, is there are tradeoffs. If you decide to help u. S. Steel industry, which is a very important industry, take this canned goods thing you mentioned, it means that consumers across america will have to pay more for their canned goods and we have an inflation problem so thats a tradeoff that someone who is elected into Public Office is being elected to make. Its not free. Its never been free. It never will be free. I think if you step back from it, though, the bigger question, the tougher question, which is its not just about punishing china and erecting barriers, its about building alliances and strengthening the American Economy and our innovators to win, to win. And i hate to say competition because its not a competition, right. Its not a fair and a level playing field. Thats Something Else i warned the administration. You talk to free traders. They say free trade great. Yeah, it is. But we dont have free trade with china. Thats the problem. What we need to insist on is a fair and level playing field. We should stop treating them differently. We wouldnt accept behavior from france in the same way that we accept from china and we need to think really hard about how do we stimulate productive, sustainable industry in the United States. Look at what happened with intel. We took a ton of taxpayer money. We threw it at intel. Theyre not using it very well. Their revenues are falling. The Semiconductor Market is down. What did we do . We just gave money to a Company Whose ceo goes to china regularly to tell you, hey, chinas a really important market for us so hes trying to play both sides. Maria all of this you know, all of this as the ccp outwardly mocks the u. S. I mean, this whole incident of serving our u. S. Treasury secretary psychedelic mushrooms, whats your take on that. Janet yellen went on cnn and basically chuckled about it, she didnt know that it was hallucinogenics, until later and then how do we find out about that beijing leaks the story that they fed her hallucinogenics. Again, we need to treat china like we treat every other nation of the world. We would never accept that kind of treatment from britain or south africa or even russia, right . So that just needs to be the rule, right, that we treat you just like we treat everybody else. But maria, the National Conversation gets really hung up on things like tiktok and Brain Washing kids, hallucinogenic mushrooms and the like. What we need to talk about is the military theyre building that is aimed at us and our military readiness and what they say theyre going to do with their military, thats the hard discussion that we need to have all the time. Thats what really matters. 400 nukes, million man army, largest navy in the world, Third Largest air force the in the world, biological chemicals weapons program. They have more icbm launchers than we v thats what we should be talking about. Maria they have a larger navy than the United States right now. Mary, good to see you as always. Thanks so much. Thanks for having me. Maria mary kissel joining us this morning in dallas. Well be right back. The biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. It still does. What can you do with spy . Woman why did we choose safelite . We were loading our suv when. Crack safelite came right to us, and we could see exactly when theyd arrive with a replacement we could trust. Thats service the way we want it. Singers safelite repair, safelite replace. Before. And bath fitter. Nows the time to call bath fitter to get a beautiful after. with our unique tub over tub process, theres no mess or stress. Bath fitter. It just fits. Visit bathfitter. Com to book your free consultation. Wow, you get to watch all your favorite stuff. Its to die for. And its all right here. Streaming was never this easy, you know. This is the way. You really went all out didnt you . Um, its called commitment. Could you turn down the volume . Here, you can try. Get way more into what your into when you stream on the xfinity 10g network. Maria welcome back. 15 republican state treasurers investigating blackrock over esg investment choices, questioning trades in coal and Climate Change. Dale falwell writes that larry finks esg push could result in using esg scores against states and local governments. Lowering their Credit Ratings and this driving up the cost of borrowing at the expense of taxpayers. Treasurer falwell joins me right now and mr. Treasurer, its great to have you this morning. Thanks very much for being here. Its great to be here and happy anniversary, maria. Maria happy anniversary. What is the anniversary . 28 years on the air. Maria thats right. 28 [laughter] maria 28 years on the air, wow. Youve been following my career. Thanks very much for that. Youre calling for the removal of larry fink over what youre call whacktivism. Explain all of this, walk us through whats happening. This is completely avoidable whats happened with whacktivism and esg policies. Esg especially during this period of bidenomics needs to be focused on energy independence, safe neighborhoods and Good Government and the reason that i called larry fink to be fired is when in North Carolina you dont do your job, thats what happens to you. We never hired blackrock to politicize the money of those that serve what we hired blackrock to do was to make us money. Thats why im calling on him to be fired, last december, and im joined many other state treasurers and attorney general as they try to attack this whacktivism. Maria you make a good point on the im pacts pact its going impact its going to have on states by making borrowing more expensive. You dont think of that initially. I find it really ironic that theyre able to push this agenda, esg agenda and alienate fossil fuels but theyre perfectly fine investing in communist china. Exactly right. You pointed this out in your book, appropriately a couple years ago. And the reason that this is so interesting to me is that when you have seen one state Treasurers Office youve seen one state Treasurers Office. Were 20 hats and two of those as i chair the local Government Commission and im seeing the impact this whacktivism is having on Credit Scores of many small communities in North Carolina and i also chair the state Banking Commission and were seeing whats happening with underwriting as far as the banks and some of the questions theyve been asked. As i said earlier, weve got a lot of challenges facing our country, our country got downgraded last week and its time to look to the states for the solutions and its time for people that we hire as state treasurers to do their job and finally on this toke is its the board of directors to do what we have to do, put their left hand on the bible, raise their right hand and make sure they uphold fiduciary responsibilities which is loyalty and duty of care for their customers. Maria i did discuss this in my look a few years ago the cost because china was clearly a threat then but its an even bigger threat today and we talked about that and i want to get your take on what youre doing. Weve got a new study which found North Carolina ranked as americas top state for business, congratulations on that, the states workforce is the driving factor, treasurer. What is happening in North Carolina that you would like to talk about thats driving this growth as we look for growth across the country amidst expectations of a recession on the way . Well, when you said that, maria, it just gave me goose bumps because this not just one year. Its now back to back. But we all know that an accomplishment is only an accomplishment for as long as it lasts so weve got more work to do to make sure that we stay number one. But im wearing a lapel pin today obviously that has nc on it but for your viewers it sands for nothing compares. I wouldnt trade places with any other state treasury in the United States for many different reasons. Lets give the credit to the employers and taxpayers of North Carolina and our General Assembly who has had the discipline to balance their budgets and build surpluses but part of this is based on the fact that were in the process of retiring its hard for you to believe this retiring 60 of the state debt of North Carolina. Maria wow. 60 of the state debt in North Carolina is going away in eight years, five of those years are in the rear view mirror. Were eliminating the Corporate Income tax in North Carolina. If you want to know how this happened, in the words of former congressman howard copell, it didnt just kopel, it didnt jump on the table itself. It goes to employers, taxpayers and the discipline of the General Assembly to figure out what is right and keep it right and we look forward to repeating as number one in the country next year. Maria that is fantastic. It falls right in the face of whats going on in the country, where were talking about 33 trillion in debt. The potential for a Government Shutdown come september as Congress Tries to pay its bills by september 30th. Treasurer falwell, you ramped up your fight lower medical costs in your state as well, youre calling it a healthcare cartel. A study finds that between 2017 and 2022 North Carolina hospitals sued over 7,000 patients and their families over accumulated medical debt. Tell us about that. Well, your viewers are exhausted about so many topics but especially healthcare. None of your viewers actually consume healthcare. It consumes them. Maria yeah, good point. We, in this state and other states are under siege because of the healthcare cartel. I used to stutter more than i do now. Websters defines this as associations which are formed to restrict competition or raise prices. Carcartel the control the supply and access. If you dont pay your bill they will break your kneecaps and a put judgments on your houses. Maria we appreciate you joining us this morning. Congrats on all. Cen well see you soon. And well be right back. Onomy. Observing investors choose assets to balance risk and reward. With one element securing portfolios, time after time. Gold. Agile and liquid. A proven protector. 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