Secretary of state well get insight into who these people are, more importantly, what they mean for you, and the country. And of course, theres more than one way to takeaway your guns. Just make them too expensive to own and to use. The biden gun tax well get reaction from liz peek on that and so much more on making money. Well so the markets open higher and a could am but nation of factors right theres of course more good news on a vaccine front from astrazeneca they received emergency approval and then the start of trading the u. S. Services pmi came in well ahead of consensus and really encouraging highlights the steepest expansion output since march of 2015 the fastest new increase in order since september of 2018 the strongest job growth since Data Collected in the series going back to october of 2009 and the strongest Business Optimism since may of 2014 and take a lack at this chart, ladies and gentlemen. It is called a super v and its all good stuff and then we might add the uptick in High Frequency economic data, airline passengers, thats higher, credit card use started to rebound, and the extremely bullish market from last week that really, i think, is the base of overall optimism but still, this week, i think the most influential news will be on the stimulus front, obviously, lots of moving parts though, we want to get to all of it we brought in some of our favorite pros to help us hash it out joining me is money man chief strategist john gulani, Michelle Schneider and michael lee, want to start with the vaccine news which obviously is great but i think most investors already sort of modeling in more approvals, ultimately distribution, and the question for me is how much should we still be sort of in this thematic reopening trade which has been unmitigated disaster some of these stocks in other words the hotel stocks, the oil stocks, some of these other stocks, earning season have been disasters but the stocks themselves have done well. Is it time to move on . No its time to be in those trades but you got to be super selective charles because the earnings arent there for a lot of these companies and investors are probably just trading them on the narrative of the reopening on the narrative of positive news on the vaccine front so i think theres a lot of danger and you have to pick those stocks and investors should be but you got to have the stocks be in the stocks and have Solid Earnings and the prospects for earnings recovery. Not just because are a name not just because they are part of the narrative otherwise thats where its getting rather full. If you look at the last week the russel 2000 hit a new record high up 2. 4 on the week while the other benchmarks were down, that tells me that trade is getting awfully full. Charles you know, michael, i mean yeah, one of these groups i think it was the hotels and leisure down 300 yearoveryear , i didnt even think that was mathematically possible but the stocks are doing well. Meanwhile other parts of the economy and the stock market also doing well, how are you sort of figuring out which way to lean here . Yeah, look. I think this move to value that is being talked about behind the scenes is a little bit overdone. I think theres just too much money chasing growth names and thats not going to change. Its good to see other names come into participation, but look, weve had a fantastic earnings season. 84 of Companies Beating their bottom line, 79 of Companies Beat on the top line, and revenue yearoveryear so top line acrosstheboard for the s p 500 is only down 1. 3 yearoveryear, we get pmi data out today like we just got, and then you also look at the job market and while the absolute number of continuing claims at 6. 3 million is still relatively high, its down from 25 million and the way that i like to think about the labor market and the overall economy is just a snowball rolling down a hill and at some point that hill is steeper and the data gets better much much quicker, and at some points, that rate of change slows down, but once were headed in the same direction, were going there, for many year, until a dead bubble bursts , which i dont into if thats three years from now. Charles so many years, okay. Yeah, not any time in next 18 months as far as im concerned. Charles okay, and by the way, it was airlines so far earnings are down 313 , hotels down 133 , oil gas down 113 . Now, you know, i think by the way folks at the end of the week, were talking stimulus today but its all going to be about fiscal stimulus and in my mind, moreso even than the vaccine and michelle i want to get your thoughts on where this market is because i think the biggest tail last week was at thursdays session where we opened under a fair amount of pressure and then word came that there might be some meetings in the senate and the market all the major indices made a pretty nice move to the upside. Well again if we just keep it simple and go back to the technicals we talked a few weeks ago right before the election about the election range and the instruments that have followed the breakout the week thereafter have continued to do very well, and of course, a lot of it does reflect not only the optimism of the vaccine but especially today when we saw the pmi numbers about the manufacturing so the small caps, the transportation and retail sectors all flying. Could we die on the vine is euphoria the end of the bull market as John Templeton said . Absolutely but right now i think you have to go with the money and not overthink. My only concern about what came out today was the pmi numbers was the price has also increased because of the supply Chain Disruption so again you got simple economics working here, supply demand if the supply continues to diminish while the demand continues to rise, then of course, we can look at a whole new host of problems. Charles yeah, im with you. And by the way within of my investment thesis is always based on companies with Pricing Power i love higher prices but to your point, they can get too high when everyone starts complaining about inflation again. Shawn let me get your thoughts on the importance of some sort of word out of d. C. On stimulus happening because i think thats the next big thing that moves this market. Oh, it definitely is, charles its going to be huge. If we get substantial, i think a smart package first of all, the substantial nature i think will elevate markets probably 5 7 in a couple of weeks if not days. I think its that important to the market. Market is anticipating and investors want to see that. It sends a message that washington is willing to spend and do whatever it takes to move the economy forward. Its coming out of this recession already. I think spending will accelerate that rise out of the recession and that markets are going to just eat that up. Charles you know, one factor in the market that i dont think gets talked about enough and thats the recent weakening of the u. S. Dollar which has been good for the stock market. I think its really grateful, oil again energy is crushing it and let me go back to you on this , mike. I think oil is breaking out here , going to have a big move. One of the things that works well when the dollar is weaker just your overall thoughts because i know some folks think its unpatriotic to even mention weakness and dollar in the same sentence. Well look, you got to think about the dollar relative to other currencies and we, the u. S. Is obviously weathered this economic storm much better than the rest of the world, so as other economies come on line and recover, the dollar will weaken and has nothing to do with patriotism right . But you know, im skeptical of any sort of stimulus coming forward. I think its based on the elections in georgia if you get a dem sweep and then biden becomes the president , youre going to get the stimulus like youve never seen before, but as this economy keeps getting stronger, you got to wonder that is Mitch Mcconnell going to spend anymore money and just print it out of nowhere so im skeptical that were going to get a stimulus for now, but i would say if you think that if your dollar, yes look at commodities but again ill go back to my favorite which is the gold miners regardless well have massive deficits next year stimulus or no stimulus and the gold miners is the best way to play the levered gold play. Charles i love the way the oil is acting right now. I did not think i would say that a couple weeks ago, but these stocks are phenomenonal. Lets get a little bit more granular last week of course was an amazing week for tesla, of course that s p 500 news helped it was obviously a terrible week for the shorts now the shorts actually have been joining over the years big time. I happen to love a good short squeeze. Michelle are there any stocks youre looking at that could even get an extra boost maybe from a short squeeze or any names that are so overvalued that youd think about shorting them . Well definitely the Growth Stocks have been overvalued, apple,nvidia, those are actually looking more like microsoft and looking more like interesting shorts and stagnating right now because the market is so strong in other areas. What were looking at in the Energy Sector even though a lot of the oil stocks have done very well they are kind of coming into some resistance here so its a bit of chasing believe it or not im looking a lot at natural gas which has gotten so hammered last week it reached march lows, and that was probably because of low demand but also considered to be the cleaner energy of oil compared to the solar space which of course is also very saturated so were looking there were also looking at some of the small cap growth like gogo being one and the tankers. You want to talk about making money off the supply Chain Disruption look at these tankers that have been killed, up over 7 today. Charles youve got to be real nimble and have a lot of nerve to mess with those tankers. Im hearing say lng looks intriguing to me as well but shawn let me give you the last question about the big five stocks that essentially carried the market on their backs for a couple of years, and the left have less influence now in the overall market. I think its a good thing but sometimes it distorts when people say well the xyz was only up so much. It distorts the overall market do you want to see this continue broadening out into this rally . Is that ultimately good for the market and good for investors . Its definitely good for the investors and certainly good for the market but i dont think we should ever count out the big mega cap tech stocks were buying into microsoft today down almost 8 off of its highs and i think its a buying opportunity well continue to buy it lower, but the same is true with the rest of the big mega cap tech stocks they arent going anywhere charles they are only going to continue to grow their earnings and their profitability and cash position so that makes them go to all of the time. Charles i hear you, brother, aint selling aint selling but i was just wondering, [laughter] , michelle, michael, thank you all very much always appreciated well you hear that sound . Thats the stimulus clock and its ticking louder and louder. This is individuals with Small Businesses are running out manufacture in. Ill ask congressman guy rushent haller, whats going to happen and joe biden forming his cabinet well break down what his picks mean for you, your wallet and our nations security later in the hour. For over 30 years, lexus has been celebrating driveway moments. Heres to one more, the lexus december to remember sales event. Lease the 2021 rx 350 for 419 a month for 36 months and well make your first months payment. Experience amazing at your lexus dealer. And well make your first months payment. Adapting. Innovating. Lsetting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Your journey requires greeliberty mutual. They customize your Car Insurance so you only pay for what you need. Liberty power wow. That will save me lots of money. Youre insured this games boring. Lets get tacos. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles well, the clock is ticking louder and louder as Congress Takes another week long break more than 12 million americans are set to lose federal Unemployment Benefits the day after christmas , just as cases are surging, a lockdowns are re emerging joining me now to discuss republican congressman guy reschenthaller of pennsylvania. You know, congressman, lots of towns are putting up Christmas Decorations over the weekend, but of course, millions of american households just arent sure how they are going to get any presents under the tree or how they might even make rent after christmas, so what is the latest on fiscal stimulus is there a greater sense of urgency now . Charles first off thanks for having me on i appreciate it you know when it comes to the stimulus, and another covid19 relief package, its been nancy pelosi and the democrats that have been holding this up for months. Republicans and leader mccarthy had been ready to get a deal done, but nancy pelosi and Chuck Schumer have held up stimulus for outrageous ideas from the far left like the stimulus payments to Illegal Immigrants, they want to have tax cuts for millionaires and billionaire s in blue states and they also want to bail out the budget to blue states which have been miss managed for years , so its because of these far left positions that nancy pelosi and the democrats have been unwilling to meet republicans half way, but even joe biden has started to relent somewhat saying we need to get a deal so i want to see real help get to real people who need it charles. Charles no i agree 1,000 and that 3. 3 trillion might have been done for public consumption , so i get that part but this is not a game and i do think that Vice President biden realizes that. Sounds to me hes even willing to go back to that number President Trump throughout there , 1. 8 trillion and if that were the case would there be enough republicans to back it . It depends whats in the bill, charles so it is the number, to a certain extent, but its also what kind of provisions are in the package. If the democrats are going to push, again, at making Illegal Immigrants eligible to get the stimulus checks then probably not you arent going to get support but if we can look at expanding ppp, the paycheck protection program, idle lines and grant getting help to people that need it then yes absolutely there will be republican support but again the American People know that pelosi has used them like pawns in her political game thats one of the reasons why they lost seats, this last election. They took some losses because the American People were fed up with how pelosi and the far left democrats held them hostage this summer. Charles ive got less than a minute but i do want to give you a shout out, the house unanimous ly passed your bill the improving safety and security for veterans act. Just tell us quickly if you can why its so important. Whats important is because i had a constituent that was tragically killed in a va hospital so our veterans deserve the best care and we need to make sure were looking into these deaths and making sure our veterans are getting the care they need in the va hospitals. Charles you know, whenever something passes unanimously these days you know it was a heck of a bill. Indication, congressman reschenthaller, thanks for coming on the show we appreciate it. Thank you. Charles meanwhile, folks, joe biden unveiling some cabinet picks former state Department Advisor christian widen has a warning about who biden wants to be his secretary of state, and betting is shifting big time at janet yellen getting to head treasurer were listening to entrepreneur don peebles and what it means for economic recovery, well be right back. Two medical societies have strongly recommended to doctors to treat acute, nonlow back muscle and joint pain with topical nsaids first. 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Humana, a more human way to healthcare. Charles joe biden naming a Longtime National security aid to be his secretary of state, tony blinken is his first choice to help push forward his Foreign Policy agenda. Joining me is former state Department Advisor christian widen. Christian i went back and listen ed to an interview with tony blinken with the Hudson Institute not long ago, and it was really interesting he talked about a premium on American Leadership and it sounded like really this sort of intervention ist kind of stuff where well be involved in every nation, you know, in a way i think that americans are starting to pushback against. Right, well this is basically, its not just blinken , its others, and biden has indicated who his National Security advisor be , Jake Sullivan perhaps michelle florno y over at the Defense Department and its really its the same team that shuffled out the door four years ago shuffling back in with the premium on biden staffers who havent really run or done anything that would ordinarily qualify you to lead a Cabinet Agency but right. Its the same sort of policies that gave rise to failed intersection in syria that somehow managed to get us involved without actually killing isis, prolonged involvement in iraq and afghanistan, appeasement of iran including sending a planeload of money, appeasement of china letting them stick it to us on trade. These are the types of people coming back in the door seeming ly without any correction or any nod to the fact that obamabiden Foreign Policy failed and help give rise to donald trump. Charles yeah and in fact, the interesting thing was the only thing he seemed to be really pushing back or angry about was russia but not necessarily china, it sounded like they were being more hands off with the middle east but the minute that libya was a disaster in part because they underestimated nationalism, and he mentioned also something here , domestically. Im just trying to get a feel for these policies, because its been really an expensive venture for america to be as involved as some of these politicians want. Its cost us countless lives of our youngest and brightest and most promising citizen, hundreds of billions of dollars and really i dont think we ever truly got anything in return in terms of respect for the rest of the world they so eagerly seem to want. Right, what got us respect was finally showing strength against iran and china, and thats what caused other allies to step up and led to things like the abraham accord, peace in the middle east between a number of arab stats beginning with the uae. Whats being rent mended is a return to globalism so this enormouslyexpensive focus on cowboys and indians on middle eastern backwater its the opportunity cost of not focusing on deterring china. You have crazy issues that are not National Security issues like chime at change, biden has named john kerry, former secretary of state, to be his climate special and said hell be on the National Security council thats the small body that originally included the president , Vice President and secretary of state and defense expanded to other cabinet agencies but the idea that Climate Change is the National Security issue is just it isnt. You can say its an important scientific or environmental or economic issue but it just shows that these guys are going to be distracted by things that dont matter. They are focused on making the world safe for cocktail parties in brussels and munich and not focused on deterring china. Charles yeah but john kerry will have to retire that wind su rfing board to bring him back in. Christian, thank you very much. Im not going to touch that one, ill see you again real soon. Well, bidens cabinet is also giving us a glimpse into perhaps the economic policies and how they might shape out. Obamaera fed chair janet yellen is considered the front runner to lead a biden treasury but what would it mean for our economic recovery joining me is chairman and ceo don peebles and don i remember when yellen hiked Interest Rates for the first time after years the market went nuts and plunged and she learned a lesson and never hiked them again so ultimately maybe wall street would chair her but main street do you think she would bring the kind of policies that main street particularly small towns need right now . Im not sure. I think that what is going to happen here, what were seeing or hearing at least is there will be a tendency to pick the president elects contemporary people that hes comfortable with and has a long history to publicly serve as this president elect has, and i think that im hopeful whoever he picks in treasury will surround themselves with assistant secretaries who have had a history within the private sector and being on the ground on main street, because thats how the recovery will take hold. It will need more than just wall street. It will need main street all across america to recover and build back our economy. Charles yeah, but right now, i know its early. It doesnt necessarily sound like that and thats not always the blueprint. You know youre a big democrat donor that thats not always the way they go. What would they be missing though for instance if they couldnt tap into the expertise that someone like you has . Well i think what this administration will need, this Incoming Administration will need to recognize one, that biden got elected because of young people who were energized to vote in urban centers and suburban markets, and so what hell need to do is bring in people who have private sector experiences. Thats Small Business experience and not just stick them over at the Small Business administration but put them in key spots in treasury and other areas theres Economic Activity like commerce, of course hud and wealth but again, hes going to need to bring in young people who have new ideas, who have experience on the ground with these new economy and how that new economy merges and preserves many aspects of our old and established economy. Charles well yes, that be refreshing. I do want to get your thoughts, because theres a lot of chatter for pot National Lockdowns, like those that are slamming new york city and los angeles. And could the nation survive a four to six Week National shutdown . Well america is a resilient nation. Were the most powerful, most productive nation in the world so we can weather anything; however, the burden be extremely heavy, and it be heavy on Small Businesses and the average american citizen. We cannot afford, and new york city cannot afford to be locked down again. California as a state, especially los angeles and San Francisco cannot afford it. There are other solutions. I mean, look. We shouldnt be afraid to give trump some credit. Operation warp speed has worked. We have a vaccine in record time leland s structure a plan to have that vaccine administered while we stabilize our nations economy, and so no, we cannot afford to have anymore lockdowns like this and they are very detrimental essentially mostly destroy new york city. Charles don peebles, always appreciated thank you, my friend folks, at 2 45, liz peek is going to give us her take on joe biden considering a tax to crackdown on americas guns, and theres a lot of jargon coming out of wall street that sounds more like advice from arnold schwarzenegger. Im going to get into it to you but with getter jargon just to prove a point, well be right back. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Hey kaleb, whats up . How you doing . Hey, im good, guess what, i just had my 13th surgery. Really . I just had my 17th surgery. Well, you beat me. Well, i am a little bit older than you. Yeah its true. How are you doing . Im doing good. Im encouraged by seeing how people are coming together to help each other during times like these. Kind of like how shriners hospitals for children is there for us. Imagine if i couldnt get my surgery. Who knows what would have happened. Same for me. I know my shriners hospitals family will continue to take care kids like us who need them most all because of caring people like you. Like me . No, the people watching us right now at home. Oh, those people. Hi people. Kaleb and i know not everyone can help right now, but for those of you who can, we hope youll this special number on your screen right now. Youll be making sure our amazing doctors and nurses can keep helping kids like us, who need them now and in the days to come. Your gift will make a huge difference for kids like us. Ooh, ooh, show them them the thank you gift. Okay, okay, hold on a second. With your gift of 19 a month well send you this adorable, love to the rescue blanket as a thank you and a reminder of the kids youre helping with your monthly support. So what are you waiting for . You can use your phone and call, or go to loveshriners. Org to give and join with thousands of other generous people who change lives with their gifts every day. I think thats about it buddy, good job. My pleasure captain. Please call now. If operators are busy with all the other caring people, please wait patiently, or you can go to loveshriners. Org to give right away. [alec] big or small, your gift helps us all. [both] thank you. giggling charles you know, theres always some cute catch phrase that catches on with the wall street crowd, but really Means Nothing at least without further explanation and now these days its the bar bell approach. I guess it means being invested in two different kinds of stocks or assets, but it really tells me nothing about those stocks or assets, and you know, i say why use weights when there are other visuals that might make even better sense, and certainly it be a whole lot more fun. First, what about the boomerang approach suggesting larger Core Holdings in the middle of your portfolio and flies through the air but always comes back to you the marketing is well the Endless Possibilities there. Second, love beats and thats with the peace sign by the way. This approach means having a lot of smaller individual positions but again, that large piece being the focus of your portfolio. How about this one, the tricycle approach. This makes investing fun and exciting, bringing back those carefree years when you let all your inhibitions down and zoom down the road this is for aggressive handson investors who want to put in a lot of sweat equity. Of course, the main thing, and the man here now with me, and he doesnt really mince words or use a lot of jargon or confuse investors hes been bullish and remains bullish and i heard him hike his 2021 target on the market joining me bmo Capital Markets chief strategist brian belski. I hate when the experts use jargon particularly with an audience thats not a wall street audience per se and doesnt inform investors just your thoughts because youre pretty straightforward. You lost me on the love beads. Charles [laughter] typically people super bull ish might be the tricycle side of things but i think its because we try to explain away too much quite frankly and i actually were explaining away too much because we actually really dont know and this has been a year of 2020 that we really didnt know. I mean the majority of wall street, that got too hung up in the rhetoric and the negativity starting to believe their own bs in terms of the Great Recession coming and then the majority of Institutional Investors missed the big move, in april, may, june, and then hated stocks in august at the top again, and really drove the september pullback, and then we had the silliness of trying to build a portfolio based on politics in the election, how that will work out not very well , and so, i think its just one of these years that was this cresendo quite frankly of negativity and thats why we say in our report that we put out on thursday, we reiterated what we said on march 23 of 2020 that that was the bottom, that was the control, alt, delete and the reset of the next 10 years of the bull market the first 10 years have been filled with negativity and climbing a wall of worry and too much macro invests and quite frankly too much of this jargon stuff that you were talking about. I think the next 10 years is about good old fashion investing , picking stock, focusing on managements products, services, backgrounds all the stuff that you and i learned when we were growing up in this business. Charles you know, brian, i always feel like its just someone who wants to come back a week later a month later and say i was right so you like domestic markets you like emerging growth and you like them all and its just not real for the average person out there to take this approach nor is it really realistic for any money manager out there. You guys are trying to beat the indexes and a lot of these just almost go down to why not buy an index fund. Yeah, i think so, and listen , if we were only running money, if we were only running money, you know, wed be neutral everything just picking stocks i think we can beat the sectors and thats essentially what weve tried to do with our research and we have mild over weights in things like financials, Consumer Discretionary and indiana dust are alls and we neutralized our Communication Services in tech positions. We neutralized were still talking about 40 of the market, man and you cant have markedly strong overweight positions there. From a sector basis but you can be overweight certain stocks very hard to be overweight apple but you sure as heck can be overweight nvidia and pay pal and adobe and salesforce, thats the way youll play in terms of strength in the Technology Sector longer term. Charles i just got 30 seconds, as more folks get bullish, does that worry you at all . I mean, i know your work is based on your fundamental research but do you prefer when theres more skepticism out there . Y else, and youre already, i do prefer it youre seeing some wall street forecasts all over the place. We arent in unison this year which i think is fantastic and when everybody is bullish, on the strategy side we have to start worrying and the survey stuff says were bullish but you have to talk to clients and most clients are very barisha, charles. Charles if you ever come on the show and tell me youre taking a barbell approach im selling everything. Brian belski, thank you very much. [laughter] thank you. Charles you know, by the way folks, theres a lot of jargon and a lot of data in news and all of that stuff we could never really parse through it during this show so im inviting everyone to read my daily market commentary every day ive got a special piece in there wstreet. Com its free, its a website. Joe biden considering cracking down on americas guns with a tax, and is taxation really the answer . Well liz peek might surprise you with her answer, plus President Trumps tariff actions have been blasted by the media but later in the hour an Organization Says its actually kept our Steel Industry strong. Well be right back. When i was in high school, this was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. And this town said not today. Lexus has been celebrating driveway moments. Heres to one more, the lexus december to remember sales event. Get 0 financing on all new 2020 and 2021 lexus models. Experience amazing at your lexus dealer. Get 0 financing on all new 2020 and 2021 lexus models. Ythey customize yours lCar Insurance. So you only pay for what you need. Wow. 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Charles joe biden considering using taxation to reign in guns, Hillary Vaughn is live in wilmington, delaware with exactly how this might work. Hillary . Reporter hi, charles well owning certain types of gun s just got a lot more expensive for some, under a bidenharris administration, but its really no surprise, because biden has not been shy about his plans to crackdown on semiautomatic rifles. Biden Administration Means they come for my guns. Bingo youre right if you have an assault weapon i would institute a National Buyback program, no legal way that im aware of you could deny them the right to purchase legally purchase them but we can, in fact, make a major effort to get them off the street and out of the possession of people. And bidens workaround to get them out of the possession of people includes a new role that gun owners who have semiautomatic rifles are facing two options under president bidens gun safety plan, sell the weapons to the government or register them under the National Firearms act so gun owners have to cough up 200 to get their rifle registered and bidens rule includes semiautomatic rifles including a r15s that would impact millions of gun owners 20 million rifles in the u. S. Approximately be affect ed and the total cost of that could be up to 34 billion for gun owners nationwide but the cost could be more for people who have more than one gun that falls under this rule, bidens policy also applies to magazines that hold more than 10 rounds so if you own an ar15 and four high capacity magazines that go with it youd presumably have to register all of those individually, pay 200, a pop for each, putting your price at 1,000 just to keep the gun that you already own. Charles . Charles Hillary Vaughn, thank you very much joining me to react is Fox News Contributor liz peek. Liz, i do want to say ar15s are not assault rifles they look likem16 which are military grade weapons but this is sort of an ingenious plan and i also have heard rumors of a tax on bullets but what do you make of it because this is a de defacto effort to take peoples guns from them. Charles whatever happened to trying to unite the country . 44 of americans live in households that own guns and my guess is those people arent going to be very happy about this , not to mention, joe biden promised not to raise taxes on anyone earning under 400,000 a year. My guess is a lot of those households dont make 400,000 a year, but look, lets be honest this is a political gesture, Mike Bloomberg spent almost half a billion dollars on the democratic nomination, and also on electing joe biden. His gun control is a big big deal to him and hes going to insist on seeing something donald hes not alone. Kamala harris has talked about confiscating guns so i think this a real thing for joe biden to get involved in right off the bat. By the way, the more we talk about this , voters in georgia, which is a very open gun state, lots of people there own guns, hunt and so forth, thats not going to weigh very well with the democrat candidates running for the senate. I think its a real thorny thing to undertake, and i dont think it works. Charles i dont think it works , but i think its also intriguing because they connect the dots back to socalled gun violence which i think is a misnomer its human violence, people pull those triggers and they talk about a place like chicago and if you look at all of the areas around chicago where the mayor from chicago says these guns are coming from where you can buy them legally the crime rates arent that high they arent shooting each other in the street at the same levels nowhere near the same levels so if you are going to argue about accountability and covid19 and a National Lockdown why dont they argue accountability when it comes to the kind of violence that people, they dont have a gun they might use a knife that were doing upon each other as americans why dont they try to get to the root of issues rather than this kind of stuff which really goes after law abiding citizens. I agree with you 100 and boot the way, it comes at a terrible time because were see ing record gun purchases because of all of the violence in the cities, people want to be able to protect themselves and their businesses and polling on gun control is going due south. It has never been worse, not since, you know, in like 20 years so this is a really in opportune time in my view as people are worried about their personal safety for joe biden to clamp down on gun ownership. I think its a very poor idea. By the way, 60 of gun murders are handguns, about 5 come from these kinds of weapons that were talking about. Charles i got less than 30 seconds the new Jersey Governor Phil Murphy was accosted at a restaurant eating with his family didnt have on a mask, the folks were pretty upset not following his own guidelines we saw the same thing in los angeles, the same thing in chicago, over and over again, these folks who are telling us to do one thing and doing another. I dont condone the language that was used in front of his children but i do think that this is something that points to something deeper about these rules that are being forced upon folks when the elites dont have to follow them. I agree if you make the rules follow the rules but no one should be harassed when they are having dinner with their family, not Sarah Huckabee sanders or rand paul. This is in excusable. Charles liz peek enjoy our conversations thank you so much my friend now despite the talk that our Steel Industry is on the decline one company says President Trumps tariff actions helped Steel Productions strong, hes next. Insulin injections can make diabetes complicated. Meet omnipod it delivers insulin through a tubeless pod. Just one small pod replaces up to 14 injections and today you can get started with a free 30day omnipod dash trial at omnipod. Com. No more daily injections. Its gamechanging get started with a free 30day omnipod dash trial today. Go to omnipod. 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There is no obligation, so call the number on your screen right now to see if your doctor is in our network, to find out if you can save on your prescriptions, and to get our free decision guide. Humana a more human way to healthcare. Charles u. S. Steel production booming because theres still tariffs put in place by President Trump, according the a recent oped that says even as some pundits and economists say americas Steel Industry is in decline, for those who understand the Steel Industry, its clear the administrations tariffs have generated a boom in steel investment and a shift to newer technologies that are creating higher paying jobs for thousands of new steel workers. The author of that piece, chief economist at the coalition for a prosperous america, jeff ferry joins me now. I took a look at some data from the industry and even the raw steel production, which bottomed in 2016, has been on a steady incline. How did this happen . Well, i think the steel tariffs played a crucial role in the revival of the u. S. Steel industry. I dont think you can avoid that fact. Thats a central fact that in 2018, the Trump Administration put 25 tariffs on imported steel and the industry has been on a tear ever since. Charles its interesting to me, the usual suspects were upset when this was announced. There was a combination obviously of the democrats, media but also good oldfashioned, you know, republican or conservative business owners, businesses, the business roundtable, chamber of commerce and even folks that believe in the orthodoxy of adam smith. What is it that they missed about all this, that they got wrong . Well, you know, a lot of the these business types and the oldfashioned conservatives as well as most the Democratic Party subscribe to what i call free trade religion. In other words, they believe in free trade without any evidence or facts to support their case, and some cases, free trade is better but in the case of steel, what you had for the last 20 years is the chinese dumping a huge amount of subsidized, uneconomic steel on the world market thats depressed the entire world market and its made steel makers in this country afraid to invest. Now, in march 2018, Donald Trump Took Office and he also appointed wilbur ross secretary of commerce and wilbur ross, as you may know, used to own a large Steel Company as an investor and sold it, so those two men knew a lot about the Steel Industry and they knew that if you could find a way to tell the Steel Industry hey, look, were not going to let foreigners dump subsidized product in this market, that Steel Companies would go and invest and thats exactly whats happened. If you say what did people miss, i come back to free trade religion. People have all sorts of fallacious beliefs about trade and tariffs. The most extraordinary or the best learning, i would say, from the last two years in the Steel Industry is that you can levy a 25 tariff and not raise prices of a good and i say that because steel prices in 2019 were actually slightly lower than they were in 2017, before the tariff. Just think about that. Steel industrys healthy, steel consumers are better off because they are paying roughly the same price for steel as they were before the tariffs, but now theyve got a u. S. Steel industry thats able to invest and meet their needs better than ever before. Theyve got more security than before because as long as these tariffs continue and lets hope they do, the Steel Industry will continue to grow and invest in new technology providing better quality steel. In other words, lighter weight, stronger steel because thats what we get as these Companies Invest in newer technology. Charles thats exactly what my next question was going to be to you. These new technologies. How does that help us with respect to beyond Economic Freedom . I hate to say it, but maybe one form is think about rebuilding our military or warships as chinas military gets stronger. I think no matter what, in that circumstance we always want to be able to produce these things ourselves rather than wait on imports. We learned a tough lesson with covid19 and some key medical ingredients that arent made in this country, either. Our coalition, we fight day and night to reshore some of these crucial industries. Steel, we already got significant capacity. We need to build it up and we need to be strong in every type of steel because as you say, steel is essential for National Security and steel is no longer your grandfathers steel, like the steel in the model t. Today there are 100 different varieties of steel, different alloys and varying applications. In military theres a whole host of applications. Things used in charles well and you nieed really strong charles the good news is that we make it here now and its working. Jeff, thank you so much. It was a fantastic piece. Speaking of working, we are starting monday off pretty good, holding the rally as we hand it off to liz claman. Liz, intriguing Market Action so far. Im happy with it. Liz indeed. Intriguing because this is three in a row, charles. Another monday, another potential coronavirus vaccine, right . That is what is moving the markets. Astrazenecas entry powering the early move, lifting stocks that were beaten down during the pandemic. Right now, check it, the dow jones industrials, this is a moving target, folks, climbing higher and higher, up 351. The s p better by 22. Nasdaq up 42 but wait until you see tll
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