To the 2020 election. Fox business Grady Trimble in fullerton county, georgia with lates it was a late night grady. It was cheryl the indictment came down i believe, around 11 00 last night all told 19 defendants face 41 felony charges among former President Trump oppose o could codefendant former chief of staff mark meadows hern rudy giuliani, eastman trump facing 13 charges from racketeering to multiple conspirators charges and others. These charges specimen from president his staff, lawyers alleged attempt to change results of the 2020 election in georgia. The former president has posted on truth social, maintaining innocence attacking the District Attorney in the case republicans are once again questioning the timing of the indictment. The middle of the election cycle and just after the appointment of a special counsel to investigate hunter biden. This is joe biden and this is the democrats weaponizing the Justice System because they are afraid of the voters. This is disgrace wrong abuse of power by angry if democrats decided the rule of law doesnt matter to them anywhere. House democrats in house and senate say in the a joint at the same time latest details how president before, to steal election undermine xho democracy overturn will of people of georgia actions by fullerton county District Attorney along with other state and federal prosecutors, reaffirms shared belief that in america no one not even the president is above the law. As for next step the District Attorney here in fullerton county fani willis has given all the codefendants until august 26 a week from this friday to turn themselves in, she also suggested that she wants the trial to start within the next six months, cheryl as you know would be smackdab in the middle of the primary and caucus season. Cheryl absolutely, Grady Trimble thank you, again for that live report, from georgia todd piro you are my colleague also former attorney talk about criminal enterprise this is the where she chose to go with this, 75 witness 2 1 2 years investigation, i mean what do you make of the fact that it is racketeering . It do you think she is weaponizing the law to make a political statement first and foremost but also does the case havelegged in your opinion. Todd first question yes specifically racketeering, rico, was incidented to get mobsters the secret cabals a host of illegality aspired to arrive at illegal solutions to illegal problems, that is ultimately what rico was designed this is political with regard to the decision that is strategic at the end of the day look at number charged 19 people charged the reason you do that inevitably one if not more than one is going to flip you are going to get the big fish that you want donald j. Trump if fani willis you campaigned on getting donald j. Trump i point out you heard, Grady Trimble i am going back to time as lawyer i was a lawyer 4 1 2 years i got tiny case mundane case goes longer than six months you think with all witnesses testimony to be eliciteding depositions, pretrial motions not decided in six months much less the trial itself i see no way that that happens. Cheryl bay this is fourth indictment jessica so to talk to you about want to talk trial dates the daniels case in new york date of for a while march 25. So next spring, then maralago classified documents scheduled date may 20 she is saying six months. Jessica coordinated effort anybody . You know i think, in terms of the impact on him, the election, you have too republicans roughly, with trump no matter what hard nz their commitment, the interesting part politically, of course, middle section, what does that do does that make people say hold on there is something wrong here in the system we are going to support him or make them say we dont want this baggage. Cheryl to the point of what grady said six months i agree with todd incredibly unrealistic, i dont any any way at the same time, you know,this case was about georgia case, is that she also included, there is other states in this not just fullerton county, georgia talking michigan arizona pennsylvania nevada new mexico a broad reaching swipe she has taken. Todd touches on something you asked, what is the ordered of all these . And how is this going to work she was asked hey if you spoken with jack smith guy doing the other two she wouldnt comment on that, to your point on why she is invoking statutes in other states that is a great point, any time you go outside of your state, then it becomes a federal matter if she is supposed to only do work of the people of georgia specifically fullerton county, georgia if going to other jurisdictions that begs the question. Cheryl criminal enterprise operated in other states. A federal matter diversity jurisdictions in civil procedure 101, Alan Dershowitz big dime democrat big dime lawyer worked for al o gore in 2000 the hanging chads he said tame process to contest election on be lav of although gore multiple attorneys spoke with was that criminal enterprise along lines of a rico violations . No, i wrote a bestselling book being about this how you are supposed to do these trump does something similar he and 19 individuals are indicted. Cheryl it is stunning, we will talk about that before the show is over, coming up, President Biden touting bidenomics yet again this time in in in milwaukee, up of watching mornings with maria live on fox business. The biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. It still does. What can you do with spy . What if you could make analyzing a big banks data. No big deal . Go on. Well, what if you partner with ibm and red hat, use a hybrid Cloud Solution to connect data across clouds, then analyze all that data with watson. Okay, but this needs to meet our. Security standards . Yup. Compliance standards . Mmhmm. So they get the insights they need. Yup. In real time. Check. To make quick decisions . Check. Aaaand check. Thats the solution ibm and a global bank created. What will you create . Ibm. Lets create. Cheryl President Biden traveling to milwaukee, wisconsin to tout bidenomics Inflation Reduction Act marking one year since that legislation was passed. Meanwhile, survey shows a quarter americans making at least 175,000 dollars a year consider themselves quote very poor or poor. Since President Biden took Office Overall cpi inflation is up nearly 16 . Core o cpi inflation up more than 14 , food at home up almost 20 joining me texas congressman roger, chairman House Small Business Committee member of House Financial Services committee congressman good morning. Good morning to you. Of a is bidenomics working for those in your district. It is not working for anybody in my district not working for anybody in texas or across the country he is glowing out there tout, high Interest Rates we got inflation, we got no supplyside no inventories, you cant hire people that is not an economy, and if he plans winning often that a loser i can tell you i am main street business in business 52 years, this is as slow as i have ever seen it just a real problem, in that he is not attacking any of is the Interest Rates are take high balances making people cant afford anything. Cheryl jessica on set. Jessica i was curious is there Anything Congress can do to push back on effect of antiinflation act a Congressional Review Act can be invoked a policy rider on of appropriations i know passed not implemented i am wondering if political will to push back. I think circulate should be inflation is a serious issue, it is driving the cost of goods, sold, up to where people cant afford it. And inflation, you know, the we got to quit spending quit printing money quit borrowing printed money let competition work let Small Business main street america sell products, and so, the inflation situation, is a real crisis, i remember 1981 Ronald Reagan took 10 years to eventually get out of it we are in that position right now the difference is between now and 812, in 81 inventories to sell day we do not. Home business the fda guzman refusing, guzman claims it is 36 billion congressman you have been trying to get answers on this you know you have, a lot of americans are furious about the amount of fraud in the covid relief money that was he doled out what can you tell us is happening now. You are right, guzman failed she would not attend hearings defend you herself if accused of her agency is a billiondollar budget, now we get reports 200 billion dollars, mishandled unbelievable you would think she would want to come with army of supporters, and lawyers and accountants defend hers but chose not to have we have Inspector General told us 00 billion dollars miss appropriated, possibly 6 hundred billion could be number one out of five lolo loans fraudulent money to foreign nationals peoplent didnt have Social Security numbers she says 36 billion like chump change this belongs to taxpayers people want money idle fund didnt get it chinaman got it weve got to get money, back to people going to aggressively get after it, it is unbelievable again, 200 billion dollars a billiondollar company in maybe 600 billion dollars we have real issues after labor day. 6 hundred billion a jawdropping number. That you just said. The unbelievable, just again they say thoefr happy with 36 billion dollars being lost. Todd twoparter how claw back money if you dont have political will in d. C. Whether President Biden or his doj to actually do work of getting that money back . Well, i can tell you theres plenty of want to on our committee, to get this money back, you know a good question how do you get it back i mean lets say 200 billion dollars how do you get that back i dont know we get all that back we got a lot of good ideas, main street ideas Small Business ideas, that could get some money back hand to people i will be honest i am in car business i live off commission my whole life most listeners do that why cant we empower americans to tell us where money is Pay Commission for that to come back hands of the people to get money back going to come up with a plan after labor day say we will pay you a commission to get it back if you pay 10 commission get that back, 90 return on investment. When you got administer willing to write this money off this is a reseifble to america. Biggest clawback what this is going to be, if pans out the way you are saying interesting idea to get money back texas announced arrested two mexican nationals tied to cartels had body armor long rifles recessed 6 magazine scenes maamor piersing rounds machete, this is a hot area for armed cartels gang members how bad is this congressman . Well its horrible i mean you couple with illegals later invaded nobody wants to use the word do not invasion weve been invades by enemy drug cartels running the show, 1 tons of fentanyl could kill mildz that has been recovered we need more Border Patrol we need more Law Enforcement we also need the United States military, down on the border, to did he have sovereignty push away invasion of people want to come here kill from us all over the world not our friends we need to stop the invasion. Congressman Roger Williams a hotbutton issue on that border, immigration, thank you, sir. For being here. Thank you. Thank you cheryl. All right. A lot more coming up how markets are moving ahead of july retail sales getting numbers about 11 minutes, former toys r us ceo target vice chairman here with his expectations, coming up next. Its not just designed to look good. Its built to command attention. Its not just a comfortable interior. Its a quiet refuge. Theyre not just headlights. They light the way forward. The new fully electric audi q8 etron models. Meet the future. A chef. A designer. And, ooh, an engineer. All learning to save and spend their money with chase. The chefs cooking up firsts with her new debit card. Hungry . Uhuh. The designers eyeing sequins. Uh no plaid. While mom is eyeing his spending. Nice. And the engineer . Shes taking control with her own account for college. Three futures, all with chase. Freedom for kids. Control for parents. One bank for both. Chase. Make more of whats yours. Cheryl take a look at futures we do have red across the board right now in fact escalation in the last 30 minutes dow down 271 premarket nasdaq down 81, s p down 29 and change we are getting july retail sales coming out in exactly 6 minutes from now, economists expecting monthovermonth, sales of and exauto to rise 4 10 of a percent i bring in former toys r us ceo former target vice chairman. Retail sales all eyes on consumer we want to know if there if pressure inflation if pulling back we in other charging credit cards traveling also dipping into savings. Absolutely, the consumer remains very stressed, if you look at sales of things forget experiences, things merchandise that you hold, touch if you look on real basis adjusted for inflation theyve been negative 10 straight months, 11th straight month we see that people spending more getting less. And, of course, due to inflation, it is due to fact they are savings running out now on credit cards but Interest Rates going way up a lot of a lot of parts of their lives, you know necessities are going up in cost, so they are having to put up money for that looking down future we have the lone repayment coming up soon a lot more money taken out of Discretionary Spending consumers are spending on what they need to buy not what they want. Getting walmart out this week we learned last quarter from walmart is that wealthier consumers high end consumers going to walmart for groceries. For decades i would say since 1961 same year, by the way, target walmart kmart began since then true that walmart does better when consumer is stressed so that is all you have to see to know what is going on walmart has been doing consistently better throughout this year by a lot not just sales where obviously, true i expect walmart positive in samestore sales, target to be negative but not just sales but profits in stock market walmart up target down, so that has been a pattern for decades, i believe true walmart executing better doing a better job of staying in stock, Meeting Needs of consumer target has been struggling since the pandemic. Let me ask how amazon figuring into that competition, big bucks i think walmart has done best job blurring that online in store experience i wonder we know how to think about walmart how do we maybe think about amazon. Great question amazon has done very well shelf stable merchandise something you can keep, everyone has not cracked food code walmart strength largest grocer in the world in the universe a brilliant job of harnessing internet to drive more food, walmart when you drive to the store put in trunk doing that in droves biggest increase secretly in walmart internet, amazon is weak being. Target earnings this week, last quart they told us about you up shrinkage retail a massive hit on retail multimilliondollar loss to them, stock is flat. I am wondering if they are going to mention with regards to that pride fiasco from june stock did take a hit the company took a financial hit going to have to be reported in this quarter. No doubt that hurts in short term i dont believe that for target that is something of a longterm effect the way that you see bud light situation so appears come and passed for target more fundamental in terms of inventory in stock are they on strategy or not at target because Stores Starting to change in ways, that make them more like walmart than they used to be not good thing for target. Maybe rhetorical question i dont understand when you cross that rubicon when it comes to retail theft you stay at this point we need to step in stop it all merchandise is being stolen, as somebody that i had ceo decision, how do you calculate to that to normal people should be zero the management that managers assets protection in stores we call it sales prevention what they want to do is lock everything up will release theft reduce theft and sales, given, sales locking away closing the store where to make more money by doing that, or leaving it out letting people steal what you are seeing increasingly is that you theft has risen bar moved from more Stores Closing in san francisco, portland, chicago walmart closed where do i start locking up merchandise knowing going to hurt me where do i do that you see more lock up. Why not hire extra security guards for small amount of money say were, ending it here like no longer going to tolerate this going to prosecute individuals. It seems you would get bad let me say out of the store. Mr. Attorney you need a d. A. To not every d. A. Is alvin bragg. O i agree you see cameras in the store people around, burly people watching checking, doing all that at the end of the day really is you think that crook got it dont want tackling criminals in the store not trained the way Law Enforcement is dont have same rights to tackle someone you gather evidence deter crime look to police to the local Law Enforcement, officials and d. A. To prosecute people you cant really do it yourself. I dont understand how in business, duane reade, in washington you are right there is a balancing act between definitely not bought something i dont want to call someone over unlock it everyone knows what you are buying whatever i have had to run to Grocery Store a couple weeks ago it was chaos, security guards sort of there like, getting paid not seeming to do anything about it. Retail sales for july released, this is interesting, they came in stronger than expected and, aga