spenders, let them know, almost $2 trillion in deficit reduction. i don t want to hear anymore of these lies are reckless spending. we re changing peoples lives. maria: our lives are certainly changing. coming up former secretary of state mike pompeo on the number one threat to today and the mistakes that got us here from foreign policy to economics. as joe biden claims it is bizarre to blame him even as the president s approval rating plummets with key voting blocks abandoning him, minorities, independents and business. these are treacherous times. frankly the lack of leadership in washington is discouraging. for the president of the united states not once, not once, say i made a mistake, this is my fault, if you look every single thing that happened negative, the devil made me do it or somebody else. when is he going to show leadership including belly-up to the bar say this one s on me? maria: coming up the former president of the kansas city federal reserve, tom hoenig a
spenders, let them know, almost $2 trillion in deficit reduction. i don t want to hear anymore of these lies are reckless spending. we re changing peoples lives. maria: our lives are certainly changing. coming up former secretary of state mike pompeo on the number one threat to today and the mistakes that got us here from foreign policy to economics. as joe biden claims it is bizarre to blame him even as the president s approval rating plummets with key voting blocks abandoning him, minorities, independents and business. these are treacherous times. frankly the lack of leadership in washington is discouraging. for the president of the united states not once, not once, say i made a mistake, this is my fault, if you look every single thing that happened negative, the devil made me do it or somebody else. when is he going to show leadership including belly-up to the bar say this one s on me? maria: coming up the former president of the kansas city federal reserve, tom hoenig a
unemployment is rising, we ll see inflation break out again, we ll repeat mistakes of the past. one of the things i want to point out very quickly, the unfortunate thing is the quantitative tightening, the fed is going to undertake is just getting started. that will be another significant constraint on the, on the economy going forward. it will take a lot of liquidity out of the market and i think make things worse before they get better. we have high probability of a pretty good recession coming our way. i agree, unfortunately cash is investor will find themselves wanting to be. maria: dan, you have seen this before, right? you know the dot-com bust, the housing bust. how long do you expect this to take? what about technology stocks and growth names? how come they take it so hard in a big selloff? well, i think couple of things. i think this is going to be a longer, more painful recession than most because you built up so much excess coming into this.
unemployment is rising, we ll see inflation break out again, we ll repeat mistakes of the past. one of the things i want to point out very quickly, the unfortunate thing is the quantitative tightening, the fed is going to undertake is just getting started. that will be another significant constraint on the, on the economy going forward. it will take a lot of liquidity out of the market and i think make things worse before they get better. we have high probability of a pretty good recession coming our way. i agree, unfortunately cash is investor will find themselves wanting to be. maria: dan, you have seen this before, right? you know the dot-com bust, the housing bust. how long do you expect this to take? what about technology stocks and growth names? how come they take it so hard in a big selloff? well, i think couple of things. i think this is going to be a longer, more painful recession than most because you built up so much excess coming into this.
talking. the secretary price understands in washington, sometimes they can t let a cry it is go. pleasure to see you. amen. charles: happy to see you. hanpy new year. happy new year. charles: the dow jones industrial average moved closer to 37,000. the nasdaq did the exact opposite. it got shellacked. gary kaltbaum is here with us. the value names on the dow shot higher. the high flying tech names, the gadget names got crushed. what s going on? the growth names have been in trouble for a while. the last couple days for lack of a better word, they ve been obliterated as interest rates have moved higher that is giving the impetus for the stuff, the things that are comatose like financials and energy, auto stocks. ford breaking out of multiyear highs. that is the place the be.