Transcripts For FBC Cavuto 20240704

Rates not as much up. So depending on where you look, of course, it depends. The dow up 63 points, the yield on the 10year down to 4. 4, down 4. 4 basis points. It has been the story of the week, and youd have to go back to last may for stocks to find the worse week. Look at this, the dow off 2 , same story on the s p, nasdaq down 2. 6 . But just because markets are weak, do not assume housing is weak. To hear real estate giant redfin tell it, were over the worst of it. Hopefully, theyre right. And get this, Ceo Glenn Kelman says the Housing Market is done and has hit rock bottom. Say what . Stay here, because coast to coast starts now. Muck. If. Ashley welcome, everybody, im Ashley Webster in today for neil cavuto. Lets read it and weep. Interest rates continue to climb and climb and climb. However, the 0 year might be calming down just a little bit. Its still bouncing in and around the 15year highs at 4. 23 . And Mortgage Rates at better than 202year highs, above 20year highs, above 7 , no less. Lets go first to gary kaltbaum, our good friend. Great to have you here, gary. Lets talk about the housing, and then well get into the market. Housing, so much concern. No inventory. 7 mortgages. Its just really hard to, excuse me, its very hard to see how quickly this is going to turn around. You know, its funny the redfin gentleman says that were at rock bottom. Im in florida, i dont think weve seen a top yet. But look the. [laughter] overall very simple, there isnt any inventory in many areas because who wants to get out of a 3 mortgage and go into a 7 . That is an outcome of you know who, who printed up to 9 trillion and took rates down to zero. And im not sure what the distortion is going to cause as we move going forward, but leave no doubt the lack of inventory and prices being elevated in is many areas has made it very unaffordable for people to buy into housing right now. Ashley all right. Lets get to these markets, gary. You could argue, and weve talked about, the tech success editor was way overstretched for some time sector was overstretched, so maybe a pause and a pullback is actually pretty healthy. At what point does it go from healthy to unhealthy . Well, its unhealthy this second, and i have to say its pretty much necessary. We saw Companies Reporting losses and skyrocketing, we saw companies with 30 and 40 drops in earnings and sales and going up and valuations in the trees. I call it overowned, overloved, overleveraged. And this is the comeuppance. Its not a big deal overall unless you bought the highs and let it come down. Just remember something, i dont care what anybody tells you long term, technology will lead the way. The ability to increase productivity and move the country and the world forward with Great Technology will win the day. But you go through bearish phases and sometimes real big bear markets i dont want to talk about 2000 where it dropped 800 , but you get it every now and then 80 . Its just way overdue. I dont own any tech right now, i sold my last a couple weeks ago, and im waiting as they pull back, and i hope they pull em back some more. Ashley you know whats remarkable, is the resilience of the u. S. Consumer. And the economy is kind of i know the datas mixed, through but there are some strong spots. Even retail sales in july came out really very strong. You know, gary, it kind of defies the textbooks if you believe in textbooks and what they say about this, what the fed has been doing. But the factor ing the market, if anything, has been heating up, if anything, as opposed to cooling down. Its remarkable. Yeah. Look, an important part of the equation is in one word, and thats jobs. The job market has been in pretty darn good shape, and as long as that stays in shape, i think were fine. Nothing spectacular are, but fine. But underneath the surface i call them termites is what we talk about all the time, credit card usage is at a record as well as Interest Rates on credit cards have skyrocketed, and save its rates have plunged. That thats a onetwo punch that has to change or else. So im keeping fingers crossed that the job market stays in shape, but if that ever falls off a cliff to a certain extent, i think were going to have i will come on here and say were going to definitively have a recession. So far were hanging in there just fine. Ashley i cant let you go without talking about the fed, your favorite panel. Yes, theyre datadependent, so what we read into then minutes from the july meeting, you know, were going to have a whole lot of data to go through before they meet again in september and make a decision. Where do they go from here, do you think . I think they flatten out here. I dont think theyre going to do much. I think theyre gonna speak a little bit less. But for me, im calling them very overrated right now. Theres one other thing you watch thats so much more important, thats the free market, and the 10year yield has been elevated recently. If that goes into 45 4. 55, thats going to force out the handle. And you can see today the market was in real bad shape early, but as Interest Rates started coming down on the 10year during the morning, things are a little bit better. That, to me, is going to be the deciding vote, the deciding factor and not jay powell at this point in time. Ashley also if you take a look at whats going on in china, should we be worried as the worlds second biggest economy, its really struggling . What impact could that have on us here in the u. S. Markets . Well, let me put it best, theyre the number one number two gdp country in the world at around 18 trillion, number three is japan all the way down to 4 trillion. So they matter bigtime. And they just got, they have big real estate problems. In 2016, last time i was in china, i was taken around, and i could not believe how many cities not buildings, but cities were built that were absolutely empty. And i think it may be coming home to roost. I you have these commercial Real Estate Companies on the hook not just for billions and tens of billions, but hundreds of billions of dollars. Theyre filing bankruptcy, and who the heck knows where it ends. And all you have to do is look at the china market, look at the fxi, cweb, kweb, theyre in freefall recently because of this, and the numbers coming out of china not very good right now. Due to the fact theyre the number two gdp country in the world, it has to be watched because as they worsen, i think a lot of the world worsens a little bit also. Ashley wow. We have been warned. And always, always on the ball, gary kaltbaum, thank you so much. Thank you, gary, have a great weekend. Thanks for being with us. Thank you. Ashley thank you very much. Lets get right to redfin Ceo Glenn Kelman. Were talking about the Housing Market. You know what, glenn, weve been talking a lot this week, have we not . How would you describe the its me again. Ashley we talk about high Interest Rates, about 7 , thats a real killer. Is inventory improving, because a tight inventory has pushed prices up. I mean, where do we stand right now . If you believe some of the data, its a bit grim. Were absolutely gridlocked. So rates are at 7. 37 , thats an uptick from 6. 9. Its dealt a real psychological blow to buyers, i think, but its also a made people more reluctant to list their home, because they dont want to give up that 3 mortgage. And so the sellers are not selling, the buyers are not buying, prices are holding up because inventorys still very low. Sales volumes going to be extremely low through the second e half of 2023 and probably in the beginning of 2024. Theres no enin sight for Interest Rates. End in sight for Interest Rates. A. Ashley yeah. Thats a bit depressing, isnt it, especially for first firsttime home buyers already facing high rents. Its very difficult to get that down payment, right . It is. So youre just going to see overall lower household forthe mission. That is the challenge formation. That is the challenge. People dont have a place to represent, they dont have a a place to buy. Normally what limits rent increases is the landlord worries that mortgage payments are going to be so attractive, people are going to move out and buy their own place. But now homes are just at record levelses of affordability about, prices are up, Interest Rates are up. That comes together to make it very difficult for genz to be able to buy a home. And so what a were going through instead is a lot of people just living in mom and dads basement or shacking up with roommates long or than longer than they normally would. Ashley i would imagine if another factor with regard to the low inventory is the fact that no one really wants to put the house on the market and give up that 3, 2. 9 mortgage and then be faced with over 7 , right in right . Thats absolutely true. The wide, reliable source of inventory has been the builders. Builders are really making good profits, theyre putting homes on the market, and theyre buying down the Interest Rate for their buyers so theyre able to bring people into the showroom and chose the deal. That is the bright spot in the Housing Market right now because the resale market is just as low as it could go in terms of sales volume. Ashley are we still seeing that movement from north to south . I know the markets very tight, but are places like texas, tennessee, florida, are they still kind of bucking the trend . Are a lot more people coming to those states . Such an interesting question. Mostly, yes. But for the first time in probably five years, im hearing from some of our Real Estate Agents that im helping people move back to california, back to new york, back to illinois, and its just because the bosses said we want you to come back to work. And so people who thought they were entirely remote are now having to come in to the office. So we have seen some people come back to some of these coastal markets that we had thought they were saying goodbye to forever. Its been a real surprise. I still think the larger ashley really interesting. Texas, toward florida, toward these other states where housings more affordable. Ashley a affordable and, guess what in the taxes are a whole lot lower too. Thats a big attraction. If they are going back, theyre going back to higher taxes in many cases. You think were going to get out of this gridlock sometime, what, at the end of the First Quarter of next year . When Interest Rates are going to come down. Ashley i cant. [laughter] yeah, i know. I think as long as rates are as high as they are, the only people who are going to move are the people youre going to have to. So youre still going to see 4. 1, 4. 2 million homes traded in the united states. Thats just the rock bottom number that always trade until people die, there are divorces, relocations and things like that. But outside of that folks who are moving up because they just want a better life, many of them are putting that off until rates get down to 6. 5 . Ashley yeah. Everyone just has to hang tight. Glenn, great to chat with you again today, and theres always [laughter] theres always a so much to talk about in the Housing Market even though its tough now. Thanks so much. Have a great weekend, thanks for being here on coast to coast. Coming up next, by the way, former President Trumps lawyers trying to get one of his trials pushed back until 202 6 00. The question is, are the judge let this happen . Going to give you the odds right after this. 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Could you turn down the volume . Here, you can try. Get way more into what your into when you stream on the xfinity 10g network. Goli, taste your goals. If. Ashley well, former President Trumps lawyers looking to delay the trial over the 2020 election to 2026, a decision to be made, by the way, by a a president barack obama appointee. Former white water deputy independent counsel Sol Wisenberg joins us now. Great to have you here, sol. What, in your opinion, is the likely timetable here . Well, i can tell you that shes not going to judge chut kin is not going to accept setting a a date in 2026 like the president , former president wants, but i also think its highly unlikely, very unfair and unrealistic to give the government the date it wants which apparently is early january 2024. So beyond that, its are hard to tell. You know, youve got a very difficult situation because youve got, now you have two state court prosecutions, and youve got two federal court prosecutions, and the judges in each of those cases have to Pay Attention to the other cases. The defendant has a due process right to be able to prepare for trial. So its a very is sticky situation made worse by the fact that the department of justice took such a long time to, you know, decide to invest and prosecute President Trump. Apparently it wasnt until a year and a half into the administration that they made the decision to pull the trigger there, which i find amazing. Ashley i mean, were in uncharted territory, theres no doubt about that. On top of all of this, you know, running, hes the leading gop candidate right now. And how is he supposed to conduct a campaign with four trials lurking out there . To me, its just become absolutely hide crouse. Ludicrous. Well, i dont think the judges care so much about his campaign. There are a lot of people who get charged with crimes and have things in their personal lives, and the normal federal criminal defendant the judge really doesnt care about that unless theres, unless theres a physical if issue. And one of the things that your viewers should know is that in the typical federal court case, the judge even for very complex cases, the judges often will force the defendants to go to trial very, very soon. In the Eastern District of virginia, for example, a Federal District right outside of washington, they have whats known as the rocket docket. And its presumed once you get indicted, youre going to go to trial in 90 days. And there are various rocket dockets like that throughout the country. If you remember, the chief boeing technical pilot who was tried in dallas and acquitted, the government wanted to go to trial in 90 days, and the defendants only got a couple of very brief continuances, and they had a millions and millions of documents. So is it doesnt make it right, it shouldnt happen. He should have the time he needs. Just not going to be given, President Trump, former President Trump, until 20 26. Ashley i find if it fascinating that hes the former president , hes running for president again and yet the judge couldnt care less. Theyre just going to go with the facts put in front of them. But that has to be a factor in some way, surely. I think the judges are just, federal judges at least are more concerned with, you know, does the defendant, does the defendant have the heym he or she needs the time he or she needs to prepare for trial. Thats number one. And is the defendant intimidating witnesses. This is not usually an issue, but because of the president s various tweets, it has become an issue. And one of the things i found fascinating was judge chut ken said her decision on how quickly to schedule the trial will be affected by how inflammatory the public statements are, which is really quite remarkable. Because, you know, you do have a First Amendment right. Its not absolute if youre a criminal defendant, but you do have a First Amendment right the comment on the case against you k. And shes made it very clear, i think her reasoning is, hey, if i have witnesses who may be intimidated, im going to go to trial a little more quickly. So so thats kind of a warning to the former president. Ashley so its your opinion, sol, once the judges in these Different Cases can finally agree on dates that dont overlap each other, that the former president is going to be spending a lot of time in court or at least his lawyers are, and hes going to appear at some point, so hes going to be doing a lot of this between now and november of next year. Hes going to have to multitask, ill tell you that. But think about it [laughter] the manhattan, the manhattan case is set for march of 2024. The miami thats a local case. The miami federal case is for may 2024. That was brought by jack smith as well. The georgia case, the state prosecutor there wants march of 2024. What have i left out there the . And, oh, youve got the washington case. So ashley its a long list. Where the government wants january. Theres just no way, theres simply no way that any, any criminal defendant even in a case with normal amount of discovery can do all of those at once. And the judges are going to have to get together or do something to come up with a schedule. Ashley yeah. Well, its going to be interesting to follow. Well have to leave it right there. Sol wisenberg, thank you for your expertise. We thank you very much. Thanks for having me. Ashley okay oh, its an absolute pleasure. Lets got to the Governor Ron Desantis allies story here. Theyre reportedly revealing a memo with his debate strategy. That plan calls for desantis to defend former President Trump and take a sledgehammer to fellow candidate vivek ramaswamy. Interesting. Lets get reaction now from desantis donor dan eberhart. Dan, this is a memo put out there. Would you agree with the strategy that apparently has been released here in here . Well, i think it more or less makes sense, but i think a lot of whats in that is captain obvious, and im sure that every candidate has got their own strategy, right . Ashley thats true. You know, desantis has been pretty has not really taken on trump. Hes responded to some things that donald trump has said about him, but hes tried to kind of stay above that fray. He wants to attract some of the trump base supporters, so thats a very difficult tight rope to walk. But would you like to see him be more aggressive . Well, sure. Id like to to see Governor Desantis be more aggressive, but what i think hes trying food here is hes prying to show differences with trump on policy and differences in the way that hes led the state of florida and would lead the country and not get dragged down in the mud and the personality and attacking other republicans and these kind of things. Rob desantis is the future of conservativism and is really trying to be a leader here. Ashley you know whats interesting, dan, i have to say this, a hot of people have said im a huge desantis fan whether they live in florida or not. Theyve been very impressed with what hes achieved in florida, but heavy been somewhat disappointed or underwhelmed at how things have gone so far. Im not sure when they expected him to catch on fire, and its never easy, as we know, on a national platform. There is that perception that hes kind of stumbled a bit. Hes had multiple staff change, and i understand thats not unusual as a campaign moves forward, but does he need to really step up his game . Look, Governor Desantis, you know, hes changed his campaign, hes changed his strategy, and i think thats what a leader does, is you make changes. You dont just wait and wait and wait and then drop9 out like what happened to scott walker. Governor desantis is spending time on the ground in iowa, time on the ground in New Hampshire, hes doing small events, hes working hard, hes running an energetic campaign focused on positivity and what hes going to do for the country. And i think, ultimately, thats why you see trump under 50 in iowa, urn 50 in New Hampshire, is because of ron desantis. And i think that, look, theres been the amount of money with every other candidate running for president is less than whats been spent against ron desantis in terms of negative ads thus far, and hes Still Holding in second place. Without trumps name id, i think hes actually doing fairly well and beating the spread, and i look for conservatives to coalesce around ron desantis in the iowa and New Hampshire the more they get to know him. Ashley we have the first debate coming up on fox news. What do you expect from desantis in is he going to be force. Is he going to be aggressive or just talk about his issues . Well, look, i think that, you know, hes going to be the frontrunner on the stage, and i think everyones going to be coming for him. But i think were going to come out with ron desantis showing heses the man to beat and the future of conservativism. Hes got a record of what hes accomplished in florida and a vision for the country, and hes number two in the polls for a reason, because of what hes done and because of where hes going and because hes built a campaign thats built to last and built to lead. I think hes going to come out of the campaign with momentum, and i think its a mistake for donald trump not to go to the debate, to be honest. A. Ashley that was my next question, would you like to see trump there . He does have a tendency to suck the oxygen out of the room. Absolutely, i would like to see trump there because i think that this is a twoperson race between donald trump and Governor Desantis. And i think people should be able to see both of them. Look, the mistake for donald trump here is not showing up at the debate means that ron desantis is going to be coming out of the debate with momentum, and thats really going to be a tactical error by trump. Thats what i think the storys going to be a week from now. But look, Governor Desantis has got a chance to shine here and a chance to hoe voters what hes done. Show voters. All the other candidates are going to attack ron desantis because hes the person that could beat trump, ahead of them in the polls, and hes the person that theyre afraid of. Ashley very good. Well leave it right there, but its absolutely fascinating to watch. I love every step of the way. Yeah. Ashley dan, thank you so much for joining us, we appreciate it. All right, now this, the Biden Administration heralding a camp david meeting with the leaders of south korea and japan, there they are arriving, but does this measure up to famous camp david accords of the past . 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Well, i think that its a little early to determine whether or not its actually going to, you know to the others as was mentioned, but i do i think its very key for us to try and help strengthen relationships that has had some tension between japan and south korea. As we know, were facing a geopolitical alignment between china, russia, iran and north korea, all of which pose a threat to the taiwan strait. As we look at what is happening with the reunification of china, the violation of hong kongs onecountry, twosystem framework, the continuation of chairman xi has he threatens the sovereignty and independence and economic trades of other partners around. So i think these trilateral agreements are very cu key, but we also must focus on strengthening the relationships with australia, u. K. And u. S. As well as the quad which incorporates india. And and in doing so, i think we would heed to dealternative city when china and chairman xi look at the economic and potential military threat that would be launched against them if they were to try this reunification. Ashley so you think this is a very Important Message to china, that the allies are coming together, because we have seen the tension grow, theres no doubt about it. People constantly talking about china, wanting to take back taiwan. Is this something that you feel is a possibility in the midterm . Maybe not the near term, but do you think china, thats their end goal . Well, i do think that their goal is to try and potentially take back taiwan as this unification. Chairman xiing has a lot that he would like to achieve in his legacy. As we know, his father was a key member under mao, and so he was of kind of ostracized and pushed to the side, so this is more about a son trying to rebuild the name of his father and also go down in history as the man who basically tried to create his own independent dynasty of hegemony. I think we will see, though, opposing threat when it comes to an increase in north korea, and probably in the last few days well see an icbm Missile Launch to increase tensions with south korea. I just returned about a month ago looking at the first and Second Island chains, we are looking at mechanisms, but but the in reality if biding really wants to doing something, he should stop holding up the 19 billion in defense articles that the president of taiwan has as basically already paid for. And they have to look at the double taxation on taiwan and start looking at ways for deterrent. A. Ashley yeah, its a headscratch iser. Very quickly, congressman, should we be more aggressive with china . Push back, show some power . Well, i think that we need to be looking at stopping our relicense city op on adversarial nations. I think we have to build if up our own industrial base, stop the supply chain and raw material goods dependency thats created and start looking at decoupling and looking at other partners and allies and also encouraging others in the International Community to do the same. Ashley very good. Well leave it there. Congressman mills, thank you so much for taking time to chat with us today, we appreciate it. Thank you. Thank you so much. Ashley now this thank you. Mauis top emergency official resigning following Harsh Criticism for his response to those deadly hawaiian fires. Fox weathers robert ray has seen the Disaster Response firsthand. He joins us now live from maui. Take it away, jeff. Reporter yeah, ashley, good morning to you. The sun is up here in maui in the 6 a. M. Hour, and we do, we have that new, breaking news, the Emergency Management officer for the island of maui resigned yesterday claiming Health Issues on his end. But the fact of the matter is, is that he and others have really that taken criticism as to why there was no alerts when the fire raged in the Historic Town of lahaina. The alarm system, the most sophisticated in the world for tsunamis, did not go off. Theres also criticism to the fire department. Lets listen to what he said e two days ago to the public in a press conference, defending himself on why there was no alarm. The sirens, as i mentioned earlier, is used primarily for tsunamis. The public is trained to seek Higher Ground in the event that the siren is sounded, and had we sounded the siren that night, we were afraid that people would have [speaking in native tongue] and if that was the case, they would have gone into the fire. Reporter and, you know, take a look at some of this video from above lahaina, and you see the cars that are just scorched, you see the structures and some of those cars, unfortunately, is where people lost their lives. Many people jumped over that seawall and waited in the water in the pacific five, six hours, inhaling the smoke. Now, ashley, the attorney general has launched her own independent investigation into the response, theyll be looking into that, and the criticism will continue. In the meantime, residents on the ground, many of them, are asking the same questions; what happened, why didnt we have sirens or an alert, and some of them not happy with the federal response, and theyre taking actions into their own hands. Meanwhile, the red crosses is on the ground trying to help those people. Lets listen to a resident and the red cross. Were showing that our community can do it. Without fema, without red cross. Our people can come in, manage their own. They dont need all of the outsiders to come in and tell us what to do and how to live. No, we got it. Our Community Pulls together strong and supports each other. No matter what. Reporter and no matter what, indeed. They are trying to help and support each other. Big concern right now are land grabs, ashley. You know, the governor of hawaii trying to make sure that real estate does not come in here immediately and try to sweep up that incredible property right there on the west side of miami, especially during the morning and the mourning and the search, frankly. 9111 people have lost their lives. 1 11. I was told as this goes on this weekend, they are expecting, unfortunately, to find the remains of more human beings. And getting back to the red cross, they are on the ground too trying to help people, the woman you just heard, and make things a little bit better with provisions whether it be clothes, diapers or even mental health. It is very fluid. The most historic and deadly wildfire in American History in the past 100 years. Ashley . Ashley yeah. Absolutely devastating doesnt do it justice. Its going to take a long time for recovery, and this is an area that is so dependent, robert, on tourism. I mean, first we have this devastation, then we could are some economic devastation along with it. Reporter youre exactly right. I mean, when you think about the hawaiian islands, specifically maui, that word just known all over the world. Yes, people come here and they want to see it and especially lahaina, the Historic Town so famous, honeymoons, Family Vacations for people. What an important place. Prayer is with them. Ashley indeed, they are. Robert ray in maui, thank you, robert, for the very latest from there. We do appreciate it. Now this, lets get back to the markets. Bitcoin having a tough day after the news of a very Famous Company is selling off all of their holdings of the cryptocurrency. Under 26,000 now. 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Jardiance is really swell, the little pill with a big story to tell. Were traveling all across america talking to people about their hearts. Ooh, take this exit. Hows the heart . I feel like its good. You feel like its good . How do you know when its time to check in on your heart . How do you know . Let me show you something. It looks like a credit card, but it is the kardiamobile card. That is a medicalgrade ekg. Want to see how it works . Yeah. Put both thumbs on there. That is your heart coming from the kardiamobile card. Wow with kardiamobile card you can take a medicalgrade ekg in just 30 seconds from anywhere. Kardiamobile card is proven to detect atrial fibrillation, one of the leading causes of stroke. And its the only personal ekg thats fdacleared to detect normal heart rhythm, bradycardia and tachycardia. How much do you think that costs . Probably 500. 99 oh really . You could carry that in your wallet of course you can carry it in your wallet, right . Yes, yes. 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But, clearly, elon musk, spacex stands out as one of those things that could be responsible, and im sure at least to some degree has contributed to it. Another interesting speculation is ever grande, the big chinese company, filing for bankruptcy. I dont see how that could play a part in it, but obviously another event thats occurring that is contributing in some way. More likely than anything else is the whales, the biggest traders in crypto using any of this market signaling to make a momentum trade and, clearly, the momentum was to sell and that you have a number of other things, call it broader marketbased like rising Interest Rates. And when you can sit back and the government is paying, you know, high yields, why take risk when government is willing to pay a high yield . People move out of riskier investments to safe or bondlike investment products. So i dont think any one thing is responsible for this, but this is a buying opportunity for people like me. Ashley well, thats a good question, should people buy on the dip. Where does it go from here, in your opinion . Well, again, i never encourage anyone to try and catch a falling knife. Ashley i understand. I dont know whats going to happen in the market, but i prefer to buy lower, so i use these opportunities normally to take, add to my position. If where does the market go from here, i mean, if we look at this market historic historically, it has gone new these cycles a lot like what we saw see right now. Weve got the halfenninging which is when the ap amount of new bitcoins are being produced or inflation in the Market Release deuces by reduces by half, historically that was usually the event that occurred before a major bull market. Will this one be the same . Anyones guess, perhaps not. But im till bullish, and i continue to be long bitcoin. Ashley very good. You know, since the ftx huge fraud case, do you think the Crypto Market overall has taken that and survived that well and continues to move forward . Yeah. And i think this isnt the first time weve been through it when it was with mount gox, weve been through a number of these cycles where an event occurs that undermines the trust in this emerging but very powerful or and real technology. Ftx being the largest of these scandals and one that, yeah, if you hadnt been following sbf, or sam bankmanfried, was just sent back to prison. He was out on a bail for witness tampering. This is going to make for a great movie or Television Show ashley that is for sure. Its full of drama. And, remember, fting x and sbf were centralized. The underlying promise of this technology is to build systems where we dont have to trust people. Ashley yes. And so this is something that has happened for as long as bad actors are in every market and good riddance when they go. [laughter] ashley thats a great place to finish. Well said. Brock pierce, thank you very much for joining us with thest on bitcoin. Well, guess what . Theres a lot more coming up on the big money show. Guess what . Heres taylor riggs with a preview. Taylor thank you, ashley. All over some of the big corrections and the big stock, were going to be breaking all of that down with charles payne. Plus, the montana governor is actually cutting taxes. Why that is the right decision for his state and leading to an economic boon. All of that coming up at one, but first more coast to coast after this. In them. At t. Rowe price our strategic investing approach can help you build the future you imagine. T. Rowe price, invest with confidence. With a majority of my patience with sensitivity, i see irritated gums and weak enamel. Sensodyne sensitivity gum enamel relieves sensitivity, helps restore gum health, and rehardens enamel. Im a big advocate of recommending things that i know work. New projects means new project managers. You need to hire. I need indeed. Indeed you do. When you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. Visit indeed. Com hire and get started today. Ashley americas crime crisis hitting Business Owners hard, can and thats especially true for San Francisco luxury retailer gumps. Thats where the owner says this could be their last year. Thats very sad, indeed. He wrote an open letter to governor gavin newsom and mayor london breed and the citys board of supervisors pleading for action. Well, welcome aboard, sir. Did you get any response from those officials . I heard from several members of the board of supervisors who have invited a conversation. Ive had no, ive had no comment or response from the Mayors Office nor the governors office. Ashley how bad has it begun been for your business . Tell our viewers what youve had to endure. Well, its just not us, its every small, mediumsized, every Large Business in the city of San Francisco is enduring the same thing. We have 25 million square feet of empty office space, government buildings are the worst, so federal Office Buildings and state Office Buildings are at 30 occupancy because for some strange reason even though the pandemic e ended months and months ago, theyre still being directed to work at home. And the bad side of it is San Francisco has focused on what i call a minority of people who are making it an almost unlivable and unworkable environment with human waste and debris. Thats not a a sustainable thing. Our door counts are down, i dont know, probably 30 from 2019. But we have a Loyal Customer x we want to find a way to fix the problem and stay in San Francisco if we can. Ashley well, thats a good question. Youve been in business for, what, 166 years. I mean, is this the most, i mean, is this moment the biggest threat to your business thats been around for so long . Well, its a huge threat, and our business will survive. We have a very Loyal Customer, we sell in all 50 statements, we will find a place, we will have a store the, it just might not be feasible in downtown San Francisco which is heartbreaking. You know, from the standpoint of the city, this is this institution is about as well known as the cable cars and the golden gate bridge. So the idea that we have customers who dont want to come in to the city is a real problem. Its just a real problem. And i hasten to say politicians not just in San Francisco, but elsewhere are going to have to come to grips with this concept of empty offices and hybrid work. It doesnt work in urban environmentingses. It just doesnt work. And the longer we pretend it works, the more damaging it gets. Ashley i think hopefully that message will get through to the mayor or hopefully the governor. John, we wish you the very best of luck and hope that your store will remain open where it is. Thank you, well continue to follow your progress. Thanks for having me. Ashley lets move on now. Thank you, its a pleasure. A hurricane, believe it or not, is brewing in sunny Southern California right in its path, as you can see. Were tracking the storms movements and intensity, and were going to bring you all you need to know when we come back. , and no matter how much i paid, it followed me everywhere. The high interest. I felt trapped. Debt debt debt debt so i broke up with my Credit Card Debt and consolidated it into a low rate personal loan from sofi. I finally feel like a grownup. Break up with bad Credit Card Debt. Get a personal loan with low fixed rates and borrow up to 100k. Go to sofi. Com to view your rate. Sofi get your money right. Woman why did we choose safelite . 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Hello, everyone, im taylor riggs brian im Brian Brenberg jackie and im Jackie Deangelis lis. Welcome to the bi