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tv   Cavuto Coast to Coast  FOX Business  March 13, 2024 12:00pm-1:00pm EDT

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oh, 27 who got that right? ash got it. okay. many ancient civilizations actually tracked the moon's cycle to track time. the oldest confirmed use of the lunar calendar dates back to 8,000 bc found in scotland. how would you not know that? >> what news! stuart: what was that again? say it again, ash. that's right, yeah. yaki-dar as well isn't it? ashley: yes it is. stuart: we better move on. tepper, thank you very much indeed for sticking around for the entire hour. >> thanks for having me. stuart: got 10 seconds left. got anything to add lauren? >> we were at an irish restaurant two nights ago. and i was trying to do the accent and i couldn't. neil: well thank you, guys. the clock is ticking on tiktok
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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 it's 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%. we'll 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 he's going to update us on how things are going and maybe provide a blueprint for how the feds handle this. let's 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 it's now in the senate's hands.
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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 tiktok's 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 doesn't exist, i would point to what happened last week when tiktok forced a pop-up 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
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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 , there's 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 it's important that we don't treat tiktok differently than other platforms. if we're going to address this issue we've got to take the same approach to all social media platforms. we can't 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. it's a ban. we're 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
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a u.s. company to stay operational in the u.s. and neil , it's 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 slow-locked 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 wasn't 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 he's not happy with facebook. he's not a friend of facebook, and so they think that that would ultimately be bad for them , so you see that effort and we'll have to see what happens here in the senate, neil
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, 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 isn't going to budge, if they aren't going to sort of divest themselves, then we'll divest tiktok and we just won't use it but it's an uphill battle still, isn't it? >> it is, but you know, the cc p's 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
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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 it's not an out right ban to begin with. it's 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, chinese-owned 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, you've gotten to the root of it, this is about allowing foreign nationals to spy on americans, and it doesn't matter if it's china or north korea or russia. we should not allow these foreign adversaries to have an in-roads to our young people in this country and their
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private information. if they were divested that would clean-up the problem and that's 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 didn't even know why they were calling. the phone would ring. we'd 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 governor's office and
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complain about the actions to protect their privacy and we took note of them. most of the callers didn't 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 let's say this gets china to blink which is a leap. we don't 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 don't want them to have end roads on to our mobile devices to spy on americans . that's pretty simple.
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divest it, continue to use tiktok but this is a multi-faceted approach. we've also taken the action here to ban the purchase of farmlands by foreign adversaries and we've 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, you're 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
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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? it's aishah hasnie google or alphabet. these big name corporations. is that ever going to pass legislation? we're blocking jetblue and spirit. i can't imagine one of these mega cap companies taking over someone of this size, but then getting back to your point. whose going to or what's going to happen next? what's 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 that's funny, but when
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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? we're going to look at the big caps again, meta and alphabet. t there's 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 it's like fifth on the list under 3% where google and microsoft, i'm 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. it's 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 you're right but one thing that's interesting again too early to look at the
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overall fallout, still early in this process, how much we either talk about or depend on, or fear over-dependence on china how it's doing and how its economy is doing. we don't 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 that's 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 let's 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. hasn't stopped nvidia. neil: very good point. >> it's probably a buying opportunity but yes, i don't 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
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you've 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 that's yet to be seen. it will cause a ripple effect but right now, given the run we've been on and it's a head scratching run at this point given some of the other economic data points we've gotten. i don't think it's 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 don't 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
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perfect example of what we're seeing. we're 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 isn't taking a nose dive overall. yes, the nasdaq will suffer more because it's 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 we'll watch next week is the fomc. what powell has to say about the direction and watch that reddit ipo. i'm 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: you're right. that's an important test on all
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things technology, so we'll 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. it's a little under that right now at around $72, 4 -- something i believe so we're 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 go-around from the first go- around? i'm going to give you a hint now dwight eisenhower and stevenson. there you go. i just told you, after this. ♪ ♪
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your passions, and the way you enrich your community. that's life well planned. her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we got him under a new plan. but then they unexpectedly unraveled their "price lock" guarantee. which has made him, a bit... unruly. you called yourself the "un-carrier". you sing about "price lock" on those commercials. "the price lock, the price lock..." so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. (announcer) frustrated with your weight and worried about your health? it's time for golo, the natural weight loss solution used by over five million people. get started with your free golo for life plan and learn the facts about willpower, your metabolism, and how to achieve lasting weight loss. this highly effective plan is a must-have
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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 it's on right now. let's 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 he's telling his supporters don't get complacent and start celebrating yet. take a listen. >> so we're not going to take time to celebrate. we'll 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
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is on and many voters don't 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 presidential 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 three-person race and he's urging candidates to debate. take a listen. >> i think we're 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
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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. we'll 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 he's saying he wants to debate biden but let's not forget he refused to debate his primary opponent this cycle along with several debates last
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cycle. i think that the whole game is changing. there's not much in it for either of them, and there's 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 aren't decided by just here in arizona where i am it's 10,000 votes, robert f. kennedy jr. could make a difference in whether trump or biden wins. neil: that's 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 he's 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 there's another effort right now to widen that. this is from my interview with r fk jr. yesterday. i want you to react to this. there's been talk you're going to become a libertarian. they're interested in you.
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any truth to that? that could get you on pretty much all of them. >> yeah, we will be on all the state ballots and we've now launched, today, actually we're starting launching a push to get us on all of the ballots that are open today at this point within four-to-six weeks and as they open we will have four-to-six weeks to get on each one and we will make those deadlines. neil: don't know if it'll be the libertarian banner but if he were to be on all 50 state ballots that be a game changer. i don't know how significant it be. i don't know who it will help or hurt. assuming logic is it will hurt joe biden more than donald trump what do you think? >> it's really interesting here with polling and also i've been to several kennedy rallies in talking to voters. he does pull voters from both candidates. you can't walk down the line waiting for a kennedy rally and not meet a former trump support er or former biden support supporter.
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our.at "wall street journal" shows it hurts trump slightly more but the cumulative other third party candidates so that's 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 we're seeing on both sides nervous about these third party candidates but particularly the democrats, and you're absolutely right. if rfk jr. could end up on every ballot that is nerve racking for biden in particular. we'll 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
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get on some of the state ballots . being a libertarian would help ease that. neil: we all harken back to ross perot's most successful third party candidate. the trouble is he didn't 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 let's point at that rfk jr. says it's a three- pen race. at this point we're looking at it as really a two-person race and the potential impact of rfk jr.'s candidacy. we just don't know because he's not someone like a green party candidate really does just hurt the democrats more.
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rfk jr. is polling higher usually getting a tenth of the vote in most polls, and he pollings from both candidates, so he's a spoiler sort of but we don't 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 we'll see what happens but thank you very much. in the meantime one guy i don't think is sweating out an election this week is when vladimir putin, you're not going to believe this , but he's the overwhelming favorite. ♪ why can't we be friends, why can't we be friends ♪ all my stresses just melt away. i hear that.
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neil: you know, we're so focused on the big election in this country right now that we lose sight of the track there's 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 you're a real opponent of vladimir putin, then you don't 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 doesn't
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tolerate descent and his decision to kill navadli reflected putin's concern. he needed to demonstrate that he's the most ruthless guy and if you oppose him that will be your fate as well. neil: before i get to the nuclear issues he's 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, two-plus decades in power. he's really denied freedom of assembly to the russian populous , and yes there's a handful of people who go out and
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attend navalni's 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 that's 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 that's 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 he's mentioned something like this? >> yeah, vladimir putin is deploying this rhetorical brinkmanship, because it works. remember back in october of 202d
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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 you're 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. that's 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 doesn't only have those in his country in fear but sometimes those across the world
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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,
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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
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impact of what she's saying. to you, my friend. reporter: yeah, they're looking at timeframes saying that inflation is coming down from a year ago but you've 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 it'll 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 two-thirds from the high it reached in 2022 and the trend is clearly a favorable
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one. i wouldn't look at expect this to be a smooth path month-to-month but the trend is clearly favorable. that said, president biden's top priority is addressing the issue of high costs that concern so many americans. reporter: but president biden's 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 that's 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, we'll have the full interview coming up in about 30 minutes or so on "big money" back to you. neil: i look forward to that.
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good for you that's quite the exclusive. edward lawrence with the treasury secretary of the united states. it's 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 she's saying and obviously you heard that, kind of that trend is our friend argument that the economies improving, inflation is well off its highs. you've heard this before. what do you think? >> well, you and i have been talking about this for quite? time and even recently when january's number was a lot higher than markets thought but almost exactly what i've 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 it's 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 you're looking at north of 7% inflation
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is what's 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 can't increase government spending like that in an inflationary environment and not have more inflation, so i think there's a big policy error happening right now that's repeating mistakes of the past and the denial we saw in that interview helps explain why the mistakes are happening. neil: i'd 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
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unlike george herbert walker was facing in 1992 running against bill clinton for re-election at the time the economy was turning around from the recession unfortunately the american people weren't 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 isn't going down and that people will continue to be very upset about it and you know there's a new study at the national bureau of economic research that highlights a change in the methodology the way we estimate inflation that's 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
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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 don't 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 that's something that's going to make people really upset. in fact what the authors did by the way, neil, you'd 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 it's 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. it's something they see almost everyday. that's a constant reminder it's alive and well and that sticks with people doesn't it? >> i think it's monthly payment s though.
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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 aren't really necessarily in the inflation measures. so that's 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 that's 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. we've been mentioning donald trump. he's 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 didn't agree. after this. >> i'm not really for the banning of tiktok. >> i really hope it's not banned. >> i could not really care.
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>> i would definitely like to feel protected and safe when i'm scrolling through that social media like my information is not being exploited or violated. ♪
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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 china's 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 didn't even know why they were calling. the phone would ring. we'd 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 governor's office and complain about the actions to protect their privacy, and we took note of them. most of the callers didn't even know why they were calling.
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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 352-655 saying tick has to go or at least bytedance its chinese parent has to divest it. let's 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, we're anticipat ing it to do well after it passed 50-0 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.
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the next generation has won here , because it's 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. it's going to prevent them from being poisoned by the chinese communist party controlled application that is tiktok and i don't 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 what's at stake here. neil: you're the expert but i can can't see china agreeing to this and even if it does it might be sort of like a fake agreement. that says okay we'll divest it but they aren't divesting and even if bytedance goes away and says tiktok, you're on your own,
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it won't be on its own. that's the way it looks to me but what do you think? >> yeah, so i think that's why the enforcement mechanisms exist at the app store and the web hosting services level and it's really important to understand there's no enforcement mechanism targeted at the individual user of this app so you're looking at the google play store, the apple 's app stores. you're looking at web hosting services that continue to offer tiktok as a service like tiktok .com, even when it's 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? it's easier said than done. we're going to get rid of it on everyone's smartphone, device, how do you do that? >> that's 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 aren't getting updates pushed or those software and security updates so it's going to hopefully if this bill is
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implemented into law by the senate signed by biden then it whithers on the vine but again, bytedance has to choose. it's 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, that's 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, you're getting the government interfering with what you do on your own device? >> we've 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
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threshold is control as well , so can't 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. we'll 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...
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