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bartiromo's wall street". maria: happy weekend to all, welcome to the program that analyzes the week that was in position to for the week ahead. i am maria bartiromo. poisoning our country on purpose a scathing new report exposing china's direct subsidies and tax breaks for the companies that make fentanyl on the condition that they trafficked outside of china and take it overseas non- china. now it's pouring across their borders killing thousands of americans every year costing u.s. taxpayers billions of dollars former attorney general bill barr testified this week. >> without china's production and export of fentanyl and fentanyl precursors there would be no fentanyl crisis in the united states. the mass slaughter would've effectively stopped. maria: 70% of drug poisoning the u.s. have caused by fentanyl. killing 77000 americans last year alone. 10 billion in taxpayer dollars is going to help combat the

acepidemic. all of that with videos like this coming out of the communist country last week treasury secretary janet yellen and ambassador to china laughing it up and whooping it up drinking beers at a brewery in beijing, joining us michigan congressman john molinari, the incoming chairman of the house select committee, the committee to publish the new report, thank you very much for being here this weekend. >> thank you for having me, good to be with you. maria: tell me more about what your committee has found out in terms of china's complicitous in giving tax breaks to the companies that produce fentanyl so long they keep it out of china. maria: four years that we've known china is manufacturing the precursors to fentanyl that is used in killing hundreds of thousands of americans every year and what this report showed his direct evidence and how the chinese communist party is

subsidizing these efforts, they are giving tax benefits to companies, not to build medicine or manufacture things that will improve people's health but rather companies that are manufacturing products that have no benefit healthwise and only destructive poisons that are killing especially our young people. maria: your committee does not have legislative authority but you actually can do this kind of work to inform congress in terms of next steps. i want to get your take on how you want to hold china to account because the fentanyl problem is one of many, covid, the cover-up of covid, the surveillance balloons, the propaganda. it is all coming to undermine america from the chinese communist party, what can you do about it. >> first we need to reset our

relationship with china and recognize foreign adversary. unfortunately they are being more aggressive at home and abroad and threatening taiwan and we need to deter their aggression and we need to build partnerships around the world especially in asia to make sure they don't continue to go down the destructive path that affects every country in the world. specifically on fentanyl. it's important to note that president biden met with president xi last november and it was something where president xi said that's cooperate and collaborate. we want to be helpful on fentanyl. at the same time there is a structure and their tax policy that says let's export fentanyl to america knowing that they're not health benefits, the destructive poisons that are poisoning our people. maria: what do you need to

further your work, do you need cooperation and others to hold china to account to really make a difference here? >> absolutely. i think we need to partner with allies, as straley, europe where they also see this scourge of fentanyl. we need to make sure that we are raising awareness of the united states about this problem. bill barr did a tremendous job explaining how this is a groundbreaking report with new evidence. we need to act on that evidence. i believe this gives the biden administration leverage and it needs to be used. maria: overnight thursday, israel struck iran and a narrow limited attack with a high-stakes vote expected this week and not a foreign aid package for israel as well as separate funding bills for ukraine and the indo pacific.

you're on the appropriation committee, what gets done and what are your thoughts on these bills? >> i think it's really important that these are national security bills and we need to support our allies. we cannot allow vladimir putin to win in ukraine. we cannot allow iran to continue to work towards the destruction of israel. we need to bolster our allies like taiwan and others in the region to deter aggression of china, we also have legislation that is forcing a required sale at the best rooster of tiktok from the parent company by dance which is influenced and basically run by the ccp so we have a number of issues and were also going to continue to fight for border security and in the house we will continue to work towards that ultimately it'll take leadership from the white

house and unfortunately we are not getting that from this a administration and were not getting it from secretary mayorkas, we saw the senate completely dismiss the impeachment which sets a very bad precedent and the senate but it's important that we work together to counter the influence of the ccp and i'm excited about this committee and the bipartisan work that were doing and i think what china fears most is the united america. maria: china is also supporting russia and iran. the anti-israel protest, terrorizing cities across the country, blocking bridges, halting traffic, creating chaos on campus this week. look at what happened at columbia. 100 people arrested from columbia university on thursday alone. watch. >> we are hamas. >> we are all hamas.

maria: you represent michigan where demonstrators were chanting death to america, death to israel just last week, your reaction. >> we sent a letter to the justice department demanding more from an immediate investigation into this to see if the demonstrators are cooperating and aligned with any outside forces. that is unacceptable. we will continue to work with responsible leaders throughout michigan to try to make sure that we can keep peace in the communities and focus on supporting israel. iran has been the largest state sponsor of terrorism throughout the world, they are creating the conflicts and it is important that they know that israel, the world community will not continue to tolerate this kind of malign influence in the region or around the world.

maria: we will leave it there, we will be watching your work, thank you for joining us. >> thank you maria. >> thank you, congressman, uncertainty in the market after israel strikes back at iran. investment strategist luke lloyd tells us what he's investing today. stay witterseath us switch to a king suite. or book a silent retreat. silent retreat! oh! hold up! earn big with chase freedom unlimited with no annual fee. how do you cashback? (sounding horns) at enterprise mobility, we never stop looking for new mobility solutions. because sometimes the best road forward, is the one you didn't expect. (♪) ♪ i have type 2 diabetes, but i manage it well ♪ ♪ jardiance! ♪ ♪ it's a little pill with a big story to tell ♪ ♪ i take once-daily jardiance ♪ ♪ at each day's start! ♪ ♪ as time went on it was easy to see ♪

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maria: welcome back tears aware markets ended the week after israel struck iran in a narrow limited attack on thursday evening. we have a string of strong earnings and federal reserve officials indicating no rate cuts in the near future, here to break it down to what it means for marketing your money, strategic wealth partner investment strategist luke lloyd, great to see you, thank you for being here. it's been a rough beginning to the second quarter, that is for sure what are you attributing these declines to in the uncertainty as we kick off a quarter which comes after a very strong first quarter.

>> what are the reasons why stocks rally last year end continued in q1, the federal reserve does not work anymore, we learned that people are comfortable taking on debt and people will take out new debt to pay off old debt even at the higher interest rates, we learned that the government will spend more money and a higher interest rate environment with $1 trillion every 100 days and we learned that corporations will continue to borrow more and more money. when the federal reserve was created in 1913 the economy did not run on all this debt, the federal reserve does not work anymore or very delayed, the reason why the longer for hire narrative that is happening right now with the federal reserve is taking a bit of a toll in the market because it eventually absolutely hit the margins for companies. if you look at u.s. investment-grade debt for the year there is $800 billion of debt set to mature in 2024 that is a lot of debt being refinanced at the higher rates. maria: what about the broader earnings, how do you see?

>> right now the market is expecting 7% earnings growth for the last quarter with earnings, that seems pretty high. with that being said consumers have the spending addiction that i was just talking about the beginning where they will take out new debt and are comfortable with taking out new debt. in 1913 when the fed was created people did not have cars, cars were not around people did not take half credit cards and take out debt, the comfortability in the mindset the philosophy around debt is a lot different. i think consumer is going to continue to spend money whether they have it or not so you have to lean into the spending addiction and frankly most companies will hit the earnings target probably going to be pretty strong. i'm concerned that people have to refinance all the staff at higher rates when does the dominoes fall and when does unemployment take up, when that starts to happen bad things really happen you have to pay very close attention to be ready to change very quickly in a

portfolio when that happens. maria: it's all about rates and we will be watching for the rest of the year if we actually get any rate cuts at all. i want to get your take on the geopolitical backdrop given the situation in israel and between iran as a geopolitical backdrop getting scarier and does this come into focus for you in terms of impacting the economy and markets in your portfolio? >> geopolitics will remain a top concern for the foreseeable future probably into the next decade. this is not a statistic this is a feeling, people i talked to, a lot of people feel like bad things are around the corner, some sort of bad feeling. i don't think the feeling is going to go to way and that's good to trickle into the economy and markets for sure. what happened over the past couple of days with iran and israel, one simple statistic around that that can tell the full story what investors should expect is that 90% of iran oil

production sold to china oil runs the middle east is a liquid gold of the middle east. if iran tensions get out of hand and a larger scale and war breaks out that cuts off oil supply to china the last thing china and iran want is for the oil to be cut off, therefore they are greatly incentivized to keep tensions low and try not to excavate the conflict, that's why markets recovered from thursday night into friday being that almost 2% intraday in the oil drop from $90 back down to 85. the likelihood of this specific retaliation going bigger is very low. maria: a complete reversal, thank you so much. >> thank you. >> luke joining us, safety concerns in the sky both american airlines and boeing making headlines as issues are mounting. american airlines pilot of 36 years will join me next. stay with us.

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okay, that's uncalled for. maria: welcome back trouble in the sky for airlines with safety concerns creating turbulence for the industry as part of the northeast is gearing up for spring break travel trade american airlines pilots union said this been trafficking significant spike in maintenance related problems in our operation. boeing taken another hit on capitol hill this week as the former boeing engineer turned whistleblower accused the company of taking shortcuts despite safety regulations. watch this. >> effectively there putting out our plans. i saw people jumping on the pieces of the airplane and the airplanes are not being built per requirement they are doing

stuff that increases the risk factor as the plane gets older you said it's not a safety issue becomes a safety issue. maria: allied pilots association spokesman and american airlines pilot for 36 years captain dennis stager, think of for joining us as we can. >> great to be with you. maria: can you expand issues why does it feel like we have an increase in safety issues on flights right now. >> first off thanks to senator john tim and blumenthal for having the hearing and what in the senate on boeing and getting issues like that and addressed in public and the courage of the whistleblower that has to be investigated but what we see right now is the pressure on safety margin all the things that we look for the happen singularly or happening at the

same time last new airplanes because of boeing's trouble and airbus had delivery problems older airplanes longer and the maintenance are the higher level and much more expensive 40% then pre-pandemic, a less experienced workforce out there in a righteous desire to commercially go out there and meet the high passenger demand. all the pressure points coming together gives us great cause for concern but the good news that management engages with us on stopping the trend that we see happening before it leads to incidents or accidents, that is the main goal. maria: we had incidents in the sky our door blowing off. there's enough incidents to take notice. what should consumers do if they're worried about this? >> they should know the last

line of defense are professional pilots we are trained to handle the issue that happened on an airplane the business is not about perfect fights i've not been on one and 36 years, small things happen the ideas that you chop those errors in the problem there is an extra wave of errors coming into our cockpit from boeing in systems under immense pressure and it's creating another area for me to focus on heightened sensible alert what we say and what you do to change that you really double down on the basics. you slow down and focus on what's important in part the commercial interest in whether you're a minute late or a minute early and you focus on the second that matter in the second to make the safety decisions because this is business that depends on the seconds. maria: of course you said a moment ago some of the planes

are older were flying order planes longer is there any light at the end of the tunnel. when you say that what is the likelihood that that changes anytime soon? >> that's a great point it's okay to fly airplanes longer than you normally do but you have to bring up the maintenance to meet the reality that they're going to require the maintenance to maintain their safety margin what we see at american reduction of some of the checks and a deferral to fix aircraft where you can have one system not working which is legal but deferring it to the edge of the calendar so the airplane is out there with the malady. though legal, just because it's legal doesn't mean it's safe or smart if your landscape changes you have to change with it and bring up your maintenance as well as your awareness to where the threats are. maria: is it safe to fly right

now? >> absolutely. >> i don't fly an airplane unless it safe. i may work for american airlines and have a license from the faa but i morally and professionally obligated to fight every aggressor via system, airline management team, you name it would have 170 plus people on my airplane know that it is safe but there is an immense amount of pressure so we have to change our game and bring it up to the level of threats and we will get this done safely there is no other choice but were on the airplane with you and we will protect you. maria: any thoughts on choosing a boeing flight versus airbus plane. >> there are trained experienced professional pilots, two of them, many are calling for one someday, that is the difference

we've counted on aircraft cruise, the pilots to save the day like the alaska flight bring it back on the ground in four minutes these are the things that we do but you can't keep counting on that many say were really lucky and there's been miracles but aviation cannot depend on luck and miracles depends on training and ingenuity in quality assurance on a production line they all have to come together as a symphony of safety. maria: we will leave it there we appreciate your time. maria: my thanks to dennis joining us. one more important thing ahead of next week

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ahead of 420 this week and for federal legalization fueling cannabis companies, the economic impact better than ever in the united states more than 400,000 jobs supportive by the legal cannabis industry total revenue expected to reach $40 billion this year will be following all of the industries that matter most to you and your money on "mornings with maria" 6 - 9:00 a.m. eastern on fox business right here. i'll see you on sunday morning for the fox news channel at 10:00 a.m. eastern for "sunday morning futures" dive exclusive interviews with ted cruz and mike lee a polish president and an exclusive and congresswoman marjorie taylor greene all with me sunday on fox news. that will do it for us here on fox business thank you for joining me have a great rest of the weekend. i'll see you next time. >> "barron's roundtable" sponsored by global