we do not have enough money. 361 filling the economy is officially in a recession as they continue struggling with something else that is beyond doubt, inflation. democrats saying this is exactly why we need more spending but would that make potentially even worse? we are on top of it all in the rescue and recovery still going on in kentucky. the death toll they re climbing to 25 after this devastating flash flood s. where going to the very latest in the state s governor, andy beshear. welcome everyone i am at cavuto. to you. it has been a turbulent week at this far, among the growing concerns on the state of the economy. recession and doubting instills the case as with the ministration is saying. and inflation, no one doubting that is alive and well. we are on top of both in how the administration is responding to be go to david s pond with the latest. hi neil good morning. president here at the white house. if you use the word recession here on these grounds officials h
meanwhile, a court hearing is scheduled for today on the request to unseal the affidavit used to search donald trump s mar-a-lago home. we ll have new reporting on where that investigation stands. plus, new polling in the fight to control the senate from a tight race in ohio to the democrat in wisconsin expanding his lead over republican ron johnson. we ll have the latest numbers for you this morning. good morning. welcome to morning joe. it is thursday, august 18th. joe, looking ahead to a big hearing today. yup. a lot of political waves beginning to sort of form out of this. they are. i m curious, what did you think of mike pence s speech? it feels it feels like he s looking for a lane. i believe his speech, willie, if i m not correct, was in new hampshire, was it not? it was. yes, it was. that would be kind of the, i think, real story there. what is he doing there? there s obviously maybe a long game being played here. i don t want to get ahead of anyth
this deal ever really start? is was it ever really, well, real? did elon musk ever truly intend to buy out the company, and if he did, what happened? and now what happens? welcome, everyone, i m neil cavuto and happy weekend and not if you re a twitter shareholder on news that elon musk is quitting. the latest from kelly o grady out in los angeles on what went wrong. reporter: hey, neil. what a roller coaster, right? elon is claiming he has grounds to terminate the social platform because they failed to provide key information and that the company appears to have made misleading statements during their negotiations. now, this really all comes down to the number of spam bots on the platform. the reason bots are so important is musk has made no new attempts to grow the revenue, and that risks on act rests on active users. all indications suggest that several of twitter s public exposures are either false or materially misleading. it appears twitter is dramatically understat
awhile. great to have you. stocks have been rejoicing. more on that in a second. now on something that is happening that would make you wonder why are they rejoicing? edward lawrence with more. we end a week with more bad economic data for this administration. now, the fed s favorite inflation indicator, if you see inflation, is now at the highest level since january of 1982. in fact, the hit song at that time was let s get physical by olivia newton john. pc inflation year over year after 6.86. core, which is without food and energy costs 4.8% year over year. when you look at this month compared to last month, the increase at 1%. that s the highest increase since march of 1980. now it s a lot of numbers but you get the idea here. republicans will remind you that all of this is because of president biden s policies. they re doubling and tripling down on failure at a time when we may be in recession, at a time when the american people are hurting in so many different ways
get out the dictionary. we ll define recession for you. here is the bottom line. the biden economy is shrinking as the fed unleashes rapid fire rate hikes to stave off the highest inflation in 40 years. let s get right to it. maria bartiromo joins us now. go ahead and give us the news because they projected .5% on the positive side. the number was a negative .9. we are now in recession and we can confirm that because it is two quarters straight of contraction. the economy shrank in the second quarter by 9/10 percent on top of shrinking in the first quarter by 1.6%. now so far all of the commentary that i m hearing is talking about a shrinking of the economy but the good news for the economy is that job growth has stayed strong. that was why some people were questioning well maybe it is different this time. it is hard to believe that job growth can be up to 300,000 in one month when you are in a recession. what s different this time is that we have an inventory build-up. a l