After the house overwhelmingly moves on a measure that could ultimately ban it. There are a number of steps before you get there but the fact its in trouble is epidemic hadding its social media competitors like snap shares up more than a percent as we speak, rumble shares up around 13 . Well be looking at the fallout with montana governor. He was the first public official in the country to say nothing of governors to put the clamp down on tiktok and try to ban it in his state. Still faces an up hill battle but hes going to update us on how things are going and maybe provide a blueprint for how the feds handle this. Lets get the latest from Hillary Vaughn on what happens now. Hillary . Reporter hey, neil. Tiktok is feeling the heat because congress is basically half way there to forcing the chinese tech giant that owns tiktok, bytedance, from forcing them to sell tiktok if they still want to do business in the u. S. The house passing this bill today means its now in the senates hands. Tiktok ceo expected to be on the hill today for secret meetings with senators trying to sway enough votes their way to stop this effort cold in its tracks. Because the president has said if congress can pass this bill, he will sign it, so, this is really tiktoks last shot to avoid a for sale. If they want to remain operational in the u. S. Republican congressman Mike Gallagher that led the charge against this says tiktok hard fought lobbying effort ended up shooting them in the foot because they tried to unleash their millions of minor users on lawmakers begging them to vote no, proving the point the influence this app has on our kids is dangerous. You can never mitigate against a threat of propaganda on the platform. And for those who think that threat simply doesnt exist, i would point to what happened last week when tiktok forced a popup on all of its users asking for their zip code information an then calling them , members of congress. We had kids calling members of congress threatening to commit suicide if we took action on the bill. Tiktok proved how the platform could be weaponized. Reporter but as much bipartisan support there is for this effort , theres also a Bipartisan Group of republicans and democrats who are opposed to it. Just like every other social media platform, there is misinformation and privacy concerns on tiktok and i share those. However its important that we dont treat tiktok differently than other platforms. If were going to address this issue weve got to take the same approach to all social media platforms. We cant just single out one. Reporter tiktok reacting to the house passing this measure saying, this process was secret and the bill was jammed through for one reason. Its a ban. Were hopeful the senate will consider the facts, listen to their constituents and realize the impact on the economy. Seven million Small Businesses and 170 million americans who use our service, of course if tiktok is really concerned about americans and Small Businesses here if this measure goes through they need to sell it to a u. S. Company to stay operational in the u. S. And neil , its important to remember that even though the president says he will sign this bill, if it gets to his desk, he is on tiktok. His campaign is, so perhaps the white house is hoping this effort is slowlocked at least until may so that the campaign can remain on tiktok until the election. Neil . Neil hillary what did you make of the people, or they make of the pressure donald trump might have applied here because he wasnt keen on this getting rid of tiktok for a variety of reasons, yet overwhelming passage of this measure. Reporter you saw republicans in the house vote against this tiktok measure kind of raising and echoing the point that the former president made that this only makes companies, like meta, that owns facebook and instagram, even stronger. The former president making it clear hes not happy with facebook. Hes not a friend of facebook, and so they think that that would ultimately be bad for them , so you see that effort and well have to see what happens here in the senate, neil , of whether republicans and democrats, enough of them kind of get behind this and get something that they could get to the president s desk. Neil yeah, well given the margin here it is significant that that is renewed pressure on the senate to do just that. Hillary vaughn thank you for that. Greg jan forte the first governor in the country to try to ban Tucker Carlson in his state and kind enough to join us governor, always good to have you. You started this idea that look, the only option we have now if china isnt going to budge, if they arent going to sort of divest themselves, then well divest tiktok and we just wont use it but its an uphill battle still, isnt it . It is, but you know, the cc ps ability to use tiktok to spy on americans neil talking the Chinese Communist party but go ahead, sir. Correct, the Chinese Communist party have used these platforms to spy on americans. China is not our friend and i just applaud the house for taking the bipartisan action they did today. As you noted, we were the first state, montana, to ban tiktok here in the state, because we want to protect the citizens of our state and this country. Neil let me ask you though, governor. The way this sounds its not an out right ban to begin with. Its a parent who gives a child warnings. You better do this first or then everything goes, and then the warning here is that the parent, bytedance, for tiktok, chineseowned and operated, divest itself of tiktok. Get out of the tiktok world but again, even if china were to agree to that or bytedance would agree, i guess they are the same, who to say they will honor it . Well, i mean, youve gotten to the root of it, this is about allowing foreign nationals to spy on americans, and it doesnt matter if its china or north korea or russia. We should not allow these foreign adversaries to have an inroads to our young people in this country and their private information. If they were divested that would cleanup the problem and thats exactly what the house attempted to do. Neil you mentioned the young people as well and apparently one of the things that really maybe backfired on tiktok were getting its users, particularly young users to petition their congressman or whoever so these kids are essentially calling capitol hill and that reinforced the argument that china is manipulating kids. Did did you run into that in montana . We saw the same thing in montana. The platform was weaponized to mobilize their users. We had hundreds and hundreds of phone calls into the State Capitol and many of these young people didnt even know why they were calling. The phone would ring. Wed answer and they would say who is this . And this is all because of a splash screen was put up. It was geofenced into montana. These young people were told to call the Governors Office and complain about the actions to protect their privacy and we took note of them. Most of the callers didnt even know why they were calling. Neil where do you see this going, governor . Of course you led the way on this , still dicey because you have a lot of people fighting your move and the legislature dealing with that but lets say this gets china to blink which is a leap. We dont know that, and it will divorce itself from or bytedance, the parent, from tiktok, as you said no guarantee s they will honor that but that this might be a watershed event in that it cohen danger other sites and social Media Companies having nothing to do with china and an avalanche begins going after social media for being intrusive , spying, all of that. American and Foreign Companies alike. What do you think of that argument . Well, i think this action is restricted to foreign adversar ies. We dont want them to have end roads on to our mobile devices to spy on americans. Thats pretty simple. Divest it, continue to use tiktok but this is a multifaceted approach. Weve also taken the action here to ban the purchase of farmlands by foreign adversaries and weve been building ties with our friends in the region. In fact, we reopened our trade office in taipei, because the taiwanese stand for freedom and we need to stand with people that stand for freedom. Neil governor gianforte, very good seeing you thank you, sir. Thank you. Neil there are a couple different spins on this if you are on any social media, some of the more prominent ones like snap your shares are up a little bit better than Aishah Hasnie percent and a major player like rumble looking tok take advantage of the gap, youre up about 13 . I hasten to add getting tough on china could have a boomerang effect on other Tech Companies extending to chipmakers like nvidia that are now extending and trying to open up and do business with, on a much more expanded basis countries like china so it cuts both ways. Jay woods is joining us right now the Freedom Capital markets chief global strategist former executive nyse thank you so much what do you make of that double potential fallout . Rival social Media Companies maybe good news . Those that depend on good relations or at least keeping relations with china, maybe bad news. What do you think . Yeah, there are a couple thingsment one if they are going to divest whose going to buy them . Would can afford to buy them . Its Aishah Hasnie google or alphabet. These big name corporations. Is that ever going to pass legislation . Were blocking jetblue and spirit. I cant imagine one of these Mega Cap Companies taking over someone of this size, but then getting back to your point. Whose going to or whats going to happen next . Whats the fallout . Look at what apple is doing and tesla. China came out and said something kind of laughable. This is a violation of free speech. I think thats funny, but when it comes to the ramification, yes, people that have that presence in china are going to be effected. They will retaliate, so when apple could be effected, tesla will be effected, and then how down the line does it go . Whose going to benefit from it right now . Were going to look at the big caps again, meta and alphabet. T theres a lot of ad revenue generated from the platform. If you look at the ad revenue generated in the u. S. From tiktok compared to the major peers its like fifth on the list under 3 where google and microsoft, im sorry, google and meta, are about 50 of that market so there are a lot more questions than answers. I think the espionage angle is the right angle as governors talk to us beforehand. I like it was passed bipartisan ly. Its going to be interesting where we go now, but if we go further down this road there are a lot more questions than answers right now. Neil i think youre right but one thing thats interesting again too early to look at the overall fallout, still early in this process, how much we either talk about or depend on, or fear overdependence on china how its doing and how its economy is doing. We dont want it to go into the tank obviously and a lot of these names that i mentioned even when i extended it to the chipmakers and you mentioned apple in those comments, jay, where exposure is considered rewarding intention is generally not so i am wondering whether a market thats been thriving, whether this is one of those unexpected black swan developments whose impact we really never considered. What do you think . Well, i think lets look at the chipmakers and the run they have been on. We know there have been china concerns trying to limit their exposure to china already. Hasnt stopped nvidia. Neil very good point. Its probably a buying opportunity but yes, i dont know exactly which ones will be effected but you look at the mega caps first and to me, it goes to apple and tesla then the chipmakers maybe taiwan semi youve got to watch that one closely and nvidia to a lesser extent but i think they have been prepared for this pivot and how drastic and how quickly it comes thats yet to be seen. It will cause a Ripple Effect but right now, given the run weve been on and its a head scratching run at this point given some of the other Economic Data points weve gotten. I dont think its going to really divert this bull run overall. Neil and i know a lot of the parading is kind of reserved a little bit today, ahead of crucial data that comes out tomorrow including the wholesale inflation report, retail sales and the rest. Oil has been moving up. There are a lot of waves here and headwinds to deal with but what about the overall market . The dow is racing along just fine. Nasdaq and s p 500 are having a tougher time, and the 17th record of the year yesterday so dont cry for them or by the way the nasdaq up in excess of 8 but what do you make of the market tone right now . Well i think right now is a perfect example of what were seeing. Were seeing a rotation and technology is the lagging sector of all 11 primary sectors. The leaders are energy, because oil is up a little bit, materials, financials, industrials continue to do well. Healthcare also in a nice up trend so when Technology Gets weak, the market isnt taking a nose dive overall. Yes, the nasdaq will suffer more because its more Technology Driven but the s p 500 is up, russel is up again today, so there is solid rotation here. That is very bullish, so the overtones while we have some clouds and storm clouds as jamie dimon likes to say in technology with this news, the markets taking it in stride and the big thing well watch next week is the fomc. What powell has to say about the direction and watch that reddit ipo. Im very curious to see how Retail Investors come back to this market. There is an appetite for it they have used here thursday morning on the nyse. Neil you should come down be a party. Neil youre right. Thats an important test on all things technology, so well watch it and social media. You name it. Jay always good seeing you my friend thank you very much. Jay woods. Good seeing you. Neil at the new york stock exchange. By the way we did have other records to talk about though. Bitcoin for a while was at one when it got over 73,000 a coin. Its a little under that right now at around 72, 4 something i believe so were watching whether that continues and keep on eye on history about to be redone. The exact match we had four years ago is on again. Joe biden and donald trump. When is the last time we had nominees identical in the second goaround from the first go around . 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Neil you know, weve only seen it one other time in American History where the guys who went at it in one contest four years later are doing it again. The exact same guys, back in 1952 it was Dwight Eisenhower and stevenson and in 1956 the match again. Both times, Dwight Eisenhower won so could it be a repeat performance with the challenger gets shunted aside . Too early to tell of course because its on right now. Lets get the latest from bill melugin in west palm beach, florida with the stage now set. Bill . Reporter neil, good afternoon to you. Donald trump secured enough delegates last night to become the presumptive gop nominee but hes telling his supporters dont get complacent and start celebrating yet. Take a listen. So were not going to take time to celebrate. Well celebrate in eight months when the election is over. November 5 i believe will go downs as the most important day in the history of our country. Reporter now President Biden also secured the delegates needed to become the presumptive democrat nominee last night officially meaning the rematch is on and many voters dont seem to be too excited about that. The latest fox news polling conducted before super tuesday showing both candidates Favorability Ratings are under water with donald trump at 43 favorable to 57 unfavorable. Biden in a similar vote with 41 favorable to 59 unfavorable. In the first president ial election rematch since 1956 could this finally be the year a Third Party Candidate breaks through . Yesterday, neil, you were talking to robert rf kennedy jr. He said on fox that this is a threeperson race and hes urging candidates to debate. Take a listen. I think were living at a time when the two least popular mainstream Party Candidates in the history of our country will be entering the general election and i would say both of these candidates will debate. Reporter and foxconn firmed late yesterday that kennedy is looking at both former minnesota governor Jesse Ventura and nfl carter back Aaron Rodgers to be his potential runningmate, and with this rematch officially on both joe biden and donald trump are going to be out on the campaign trail this week, joe biden in wisconsin today. Donald trump is going to be in ohio later this weekend. Well send it back to you. Neil thank you for that, bill melugin. To eliza collins. Can i get back to the debate thing with you . That seems increasingly likely. How does that fall out . I think that is very likely. I think we saw former President Donald Trump change the game on debates. Now hes saying he wants to debate biden but lets not forget he refused to debate his primary opponent this cycle along with several debates last cycle. I think that the whole game is changing. Theres not much in it for either of them, and theres certainly not much in it for either trump or biden to debate robert f. Kennedy jr. Who they would both like to keep as seen as a long shot candidate which is important to note he is a long shot candidate but in some of the very competitive states where elections arent decided by just here in arizona where i am its 10,000 votes, robert f. Kennedy jr. Could make a difference in whether trump or biden wins. Neil thats very interesting. I raise that issue of the long shot nature of his campaign, and a lot of it had to do, that is with robert f. Kennedy jr. In the fact hes only in six state ballots. Maybe by the end of the month with moves in michigan and elsewhere he could get up to 10 but theres another effort right now to widen that. This is from my interview with r fk jr. Yesterday. I want you to react to this. Theres been talk youre going to become a libertarian. Theyre interested in you. Any truth to that . That could get you on pretty much all of them. Yeah, we will be on all the state ballots and weve now launched, today, actually were starting launching a push to get us on all of the ballots that are open today at this point within fourtosix weeks and as they open we will have fourtosix weeks to get on each one and we will make those deadlines. Neil dont know if itll be the libertarian banner but if he were to be on all 50 state ballots that be a game changer. I dont know how significant it be. I dont know who it will help or hurt. Assuming logic is it will hurt joe biden more than donald trump what do you think . Its really interesting here with polling and also ive been to several kennedy rallies in talking to voters. He does pull voters from both candidates. You cant walk down the line waiting for a kennedy rally and not meet a former trump support er or former biden support supporter. Our. At wall street journal shows it hurts trump slightly more but the cumulative other Third Party Candidates so thats looking at green party, potentially if there was a libertarian on the ballot, other independent candidates cumulatively do hurt biden more so when all of those folks end up on the ballot, biden lose s to trump by a wider margin than a head to head matchup, which our wall street journal polling shows right now, trump with a very narrow lead, so were seeing on both sides nervous about these Third Party Candidates but particularly the democrats, and youre absolutely right. If rfk jr. Could end up on every ballot that is nerve racking for biden in particular. Well see , he made it sound pretty easy. It is very difficult, especially as an independent candidate and very expensive. They need together signatures in all of the states. Costs a lot of money to gather signatures. He does need a runningmate to get on some of the state ballots. Being a libertarian would help ease that. Neil we all harken back to ross perots most successful Third Party Candidate. The trouble is he didnt get a single electoral vote and i look back on 196 where i argue George Wallace was the most successful candidate because he won states and electoral votes that Robert Humphrey of beating Richard Nixon was a clear impact from that contest so you talk about a glorified spoiler role. Would that be it for an rfk . Well, neither of those won the presidency so lets point at that rfk jr. Says its a three pen race. At this point were looking at it as really a twoperson race and the potential impact of rfk jr. s candidacy. We just dont know because hes not someone like a green Party Candidate really does just hurt the democrats more. Rfk jr. Is polling higher usually getting a tenth of the vote in most polls, and he pollings from both candidates, so hes a spoiler sort of but we dont know for whom. Neil very good point. Very good point. Left out by the way george walla ce won 45 electoral votes in 1968. All of those Southern States rob humphrey had a chance to beat Richard Nixon, in a close election and he made it close not winning himself but gathering enough electoral votes taking them from humphrey so well see what happens but thank you very much. In the meantime one guy i dont think is sweating out an election this week is when Vladimir Putin, youre not going to believe this , but hes the overwhelming favorite. Why cant we be friends, why cant we be friends all my stresses just melt away. I hear that. This bad boy can fix anything. Yep, tough day at work, nice cruise will sort you right out. When im riding, im not even thinking about my painful cavity. Well, you shouldnt ignore that. And every time i get stressed about having to pay my bills, i just hop on the bike, man. Oh, come on, man, you got to pay your bills. 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Neil you know, were so focused on the big election in this country right now that we lose sight of the track theres a huge one this week, this very week in russia and guess whose favored to win after think years in power, you guessed it Vladimir Putin, heavily favored to sign up for another six year term that would make it 30 if he follows through on that. Dan hoffman is the former states in chief in moscow. Dan, as you know, a lot of opposition has a way of disappearing or bowing back in the face of challenging Vladimir Putin, so it looks like he is prohibited favored. Your thoughts . Yeah, absolutely. If youre a real opponent of Vladimir Putin, then you dont get on the ballot like bordis na tisen, or you wind up with a banned chemical nerve agent in your underpants which is what happened to navald i before Vladimir Putin regime murdered him in a siberian gulag, so he doesnt tolerate descent and his decision to kill navadli reflected putins concern. He needed to demonstrate that hes the most ruthless guy and if you oppose him that will be your fate as well. Neil before i get to the Nuclear Issues hes been raising i did want your thoughts on how the russian people respond. I noticed there was protesting wives and mothers and soldiers in the battle front of ukraine. You see spored ic incidents including those who have done this in past. What happens to them . Yeah, Vladimir Putin has really turned the screws on descent inside russia over the pastas you noted, twoplus decades in power. Hes really denied freedom of assembly to the russian populous , and yes theres a handful of people who go out and attend navalnis funeral or might protest but they are putting their lives at risk and the numbers are rather small and the real threat to Vladimir Putin if there is any threat ever some day is from his own Security Services who might decide at some point that having to be dependent upon china for export of hydrocarbons and iran for drones and north korea for artillery in a war thats cost russia hundreds of thousands of casualties, that they might decide Vladimir Putin is not up to the job and then you might see regime change. Neil you know, back to this issue thats got the world a little concerned to put it mildly. Vladimir putin is warning again russia is ready to use Nuclear Weapons of any nato country specifically referring to the United States, entertained even the thought of bringing soldiers into ukraine to fight the good fight there. What did you make of the second prominent time hes mentioned Something Like this . Yeah, Vladimir Putin is deploying this rhetorical brinkmanship, because it works. Remember back in october of 202d nuclear war then, when the russian army was suffering humiliating retreats . That was designed to induce the United States not to give ukraine the long range artillery and other military equipment that ukraine needed and it worked. One of the things i studied at c ia was historical placement when youre trying to assess a foreign leader, and for President Biden, his formative experience, one was the cuban missile crisis and when those threats emerged in october 2022 as real or imagined as they might have been President Biden himself spoke of the fear of Nuclear Armageddon and harkened back to the cuban missile crisis. Thats exactly what Vladimir Putin wants. He wants to deter us from doing the right thing and not just us, but just today, german chancellor schultz announced that germany will not provide ukraine with the long range cruise missiles. Same thing. Deterrence of the United States and our allies. Neil so it doesnt only have those in his country in fear but sometimes those across the world dan, thank you very much, my friend. Thanks. Neil dan hoffman on all of that well to hear janet yellen the treasury secretary of the United States, the inflation problem is way overdone. She withholds a lot of interviews but not when it comes to Edward Lawrence. What he learned and what he found out, after this. Investment opportunities are everywhere you turn. But at t. Rowe price, were letting curiosity light the way. Asking Smart Questions about opportunities like advances in healthcare. And how these innovations will create a healthier world tomorrow. Better questions. Better outcomes. luke this will be a gold mine of local intel. Just you wait. marci right. So, tell us about this corn festival . stylist 1 oooh you got your corn pudding. You got your corn chowder. marci so. Is it safe around here . stylist 2 sometimes. luke if a family of eight were to need a cold plunge, where would they find it . stylist 1 . And then they dip it in butter, then bam, it goes right in. stylist 2 . Really cute vampire bar. stylist 1 the reverend does like a blessing on the corn. luke donut shops. How far from here . marci no eyebrows . luke think of how light itll feel in the summer. Weve got to run. Eleven thousand more neighborhoods to go vo ding dong homesdotcom. Neil all right how many times have you heard the president of the United States talk about the trend being the friend here for the economy. Well, his treasury secretary janet yellen essentially echoing that point with her own Edward Lawrence on exclusive chat with her. He joins us now to look at the impact of what shes saying. To you, my friend. Reporter yeah, theyre looking at timeframes saying that inflation is coming down from a year ago but youve got to go back to when the president first tame into office. Secretary janet yellen will be here at this manufacturing plant in about an hour in elizabeth town, kentucky touring. They make the casings for ev cars for the batteries for ev cars and it was made possible by the Inflation Reduction Act and tax yesterdays now, inflation was a big topic of our interview with treasury secretary janet yellen. She says the trend will go down to 2 and she thinks itll happen this year, except i press ed her on the trend from the last three months. Listen. But if you go back and look at m over month, december, january, and february, it showed an increase of inflation. Is inflation coming back . Well, look, inflation is down almost twothirds from the high it reached in 2022 and the trend is clearly a favorable one. I wouldnt look at expect this to be a smooth path monthtomonth but the trend is clearly favorable. That said, President Bidens top priority is addressing the issue of high costs that concern so many americans. Reporter but President Bidens programs bring some prices down for certain people like the 35 insulin he talks about that applies only to people on medicare and only for people with covered insulin pumps. Now overall people feel the higher prices from the day President Biden came into Office Overall prices up 18. 5 . All food increased 21 . All shelter including rents well thats up. The treasury secretary janet yellen feels like people are making more and therefore, they will finally see that and the polls will turn and, neil, well have the full interview coming up in about 30 minutes or so on big money back to you. Neil i look forward to that. Good for you thats quite the exclusive. Edward lawrence with the treasury secretary of the United States. Its a big deal. Kevin hassett also a big deal the former council of economic chairman under donald j. Trump. Happy to have him. Kevin, good to see you. Yeah, good to be back, neil. Neil what shes saying and obviously you heard that, kind of that trend is our friend argument that the economies improving, inflation is well off its highs. Youve heard this before. What do you think . Well, you and i have been talking about this for quite . Time and even recently when januarys number was a lot higher than markets thought but almost exactly what ive been talking about on your show for a while. Then people are saying oh, well it was transitory but then we got a february number that was above that. Then people said oh, well its shelter but if you take food and shelter out, then in february, prices were up at a rate of six tenths of a percent and you annualize that, then youre looking at north of 7 inflation is whats the super core read right now, and so goods inflation was deflating for a while and putting downward pressure on inflation but that stopped. Service inflation is accelerating because Wage Inflation is five or six which is about what the inflation target should be and the Biden Administration sadly is in denial about this as we saw from news breaking interview. The fact is they said it was transitory at the beginning and now they clearly are in denial because if you look at their budget they are proposing i think a 7 increase in Government Spending over the next year and you cant increase Government Spending like that in an inflationary environment and not have more inflation, so i think theres a big policy error happening right now thats repeating mistakes of the past and the denial we saw in that interview helps explain why the mistakes are happening. Neil id be curious what you make of the fact that the American People, even though they are told again and again that the trend is our friend as i keep repeating and things are getting better. I know the administration is coming from the view point unlike George Herbert walker was facing in 1992 running against bill clinton for reelection at the time the economy was turning around from the recession unfortunately the American People werent feeling it. There was too little impact and time to have it register. The white house is arguing that we have all these months before the general election and it will register. In other words people will feel it. What do you think . I think that the inflation isnt going down and that people will continue to be very upset about it and you know theres a new study at the National Bureau of Economic Research that highlights a change in the methodology the way we estimate inflation thats having a big impact maybe on making the measures underestimate inflation. The idea is that when volcker lifted Interest Rates they took Interest Rates out of the inflation so if you buy a car for 30,000 this month, then the Monthly Payment rate is a lot more than it was three years ago but if you spent 30,000 on the same car three years ago they say inflation is zero even though the Monthly Payment is up a lot so these researchers corrected for the fact that Interest Payments are higher so your Monthly Payments on anything you buy on credit, your Credit Card Debt all those things dont go into the inflation measure but they really effect the cost of buying stuff and if you correct for that, then in the study, then one of their estimates of what current inflation is about 8 so if inflation is really running at about 8 , then thats something thats going to make people really upset. In fact what the authors did by the way, neil, youd love this , is they used the methodology from the 70s where they had Interest Rates in the cpi, and said what if we use the same methodology now and then inflation a few years ago peaked at 20 and now its at 8 so the government should be worried about these things, not denying them. Neil i think the big impact for most people is food in the grocery store. Its something they see almost everyday. Thats a constant reminder its alive and well and that sticks with people doesnt it . I think its Monthly Payment s though. I disagree. I think food is really important i do the grocery shop and those prices, they are way up especially for meat and things like that but the Monthly Payment people have so much Credit Card Debt right now and credit card Interest Rates are north of 20 so those Monthly Payments are really a problem for americans, and again they arent really necessarily in the inflation measures. So thats what i think is why sentiment is so down. Neil we can respectfully disagree because i just think if i tall yankees sausage is double what it was from two years ago thats war for me. But kevin, always good seeing you thank you very much. Kevin hassett, the former council of economic advisors chairman under one donald j. Trump. Weve been mentioning donald trump. Hes been rallying against this move to sort of ban tiktok for a variety of reasons for that but bottom line is a lot of people, even republicans in the house, by and large, overwhelmingly didnt agree. After this. Im not really for the banning of tiktok. I really hope its not banned. I could not really care. I would definitely like to feel protected and safe when im scrolling through that social media like my information is not being exploited or violated. You were always so dedicated. We worked hard to build up the shop, save for college and our retirement. But we got there, thanks to our advisor and vanguard. 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It will release your fat and it will release you. Neil these kids are essentially calling capitol hill and reinforcing the argument that chinas manipulating kids. What did you make of that . Did you run into that in montana we saw the same thing in montana. The platform was weaponized to mobilize their users. We had hundreds and hundreds of phone calls into the State Capitol and many of these young people didnt even know why they were calling. The phone would ring. Wed answer and they would say who is this . And this is all because of a splash screen was put up. It was geofenced into montana. These young people were told to call the Governors Office and complain about the actions to protect their privacy, and we took note of them. Most of the callers didnt even know why they were calling. Neil that was montana governor greg gianforte, the in the country to ban tiktok. The move beginning in this country by an overwhelming margin in the house vote today 352655 saying tick has to go or at least bytedance its chinese parent has to divest it. Lets get the read from kara frederick, a former top facebook official. Kara, good to have you. What did you make of just the shear size of this vote and a bipartisan vote at that to really clamp down on tiktok . Yeah, well, were anticipat ing it to do well after it passed 500 out of the house energy and Commerce Committee last week but i think this is a victory, a remarkable victory. Obviously we still have a long road in the senate but this you look at it and you see that National Security for the everyday american has won here. The next generation has won here , because its going to, if this is implemented into law, it is going to prevent them from being propaganda as you played with the governor of montana. Its going to prevent them from being poisoned by the Chinese Communist party controlled application that is tiktok and i dont want to gloss over that. We know this is a narrow target ed bill and it specifies that control by a foreign adversary has to exist and we know that bytedance is domestic subsidiary in china has a ccp member on its board seat and even on bytedance as well as well as being subject to the National Intelligence law of 2017, so those three data points should make people understand whats at stake here. Neil youre the expert but i can cant see china agreeing to this and even if it does it might be sort of like a fake agreement. That says okay well divest it but they arent divesting and even if bytedance goes away and says tiktok, youre on your own, it wont be on its own. Thats the way it looks to me but what do you think . Yeah, so i think thats why the Enforcement Mechanisms exist at the app store and the Web Hosting Services level and its really important to understand theres no enforcement mechanism targeted at the individual user of this app so youre looking at the google play store, the apple s app stores. Youre looking at Web Hosting Services that continue to offer tiktok as a service like tiktok. Com, even when its hopefully wiped off the app stores, if they do not agree to divest, so those neil how would you get rid of it in the first place . Its easier said than done. Were going to get rid of it on everyones smartphone, device, how do you do that . Thats not how it works. It basically dies on the vine. You visit Civil Penalties if the stores continue to carry and it should prevent new downloads but you arent getting updates pushed or those software and security updates so its going to hopefully if this bill is implemented into law by the senate signed by biden then it whithers on the vine but again, bytedance has to choose. Its a very simple choice. Just divest if an American Company can come in, and gender that competition in the marketplace that everybody talks about wanting so badly, thats a great thing too so simple choice. All bytedance has to do is get rid of the Chinese Communist party control. Neil real quickly is it a slippery slope, youre getting the government interfering with what you do on your own device . Weve heard this a lot but those arguments are effectively bunk because of the narrow tailored measured impact of this bill. Again, not targeting any specific individual users. Having thresholds that are already written in statute and proving National Security threats, those four foreign adversary nations are named part of north korea, we have i ran, we have china, russia. Those are the only and the threshold is control as well , so cant even just have the social Media Company incorporate in those countries. Has to be controlled. Neil got it, thank you final word on the subject. Well explore this and more right after this. Maybe rich is t reaching a magic number. And more about discovering magic. Rich is being able to keep your loved ones close. And also send them away. Rich is living life your way. And having someone who can help you get there. The key to being rich is knowing what counts. Everyone say, space pod. cheese. [door creaks open] [ominous music] [ding] meanwhile, at a vrbo. When other Vacation Rentals are just for likes, try one youll actually like. Businesses go further with 5g solutions. Thats why they choose tmobile for business. 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