This is a rush transcript of “Your World” on November 22, 2021. This copy may not be in its final form and may be updated.
(BEGIN VIDEO CLIP)
ANGELA O’BOYLE, WITNESS: This is the video that I shot right here.
And it is surreal to watch. I couldn’t believe it was happening. It was hard to watch, for sure, and not something you want to see again.
(END VIDEO CLIP)
CHARLES PAYNE, FOX NEWS ANCHOR: Hard to watch, indeed.
We are live in Waukesha, Wisconsin, where the suspect in that horrific parade crash is now facing intentional homicide charges. And we should warn you that some of the scenes you’re about to see are graphic. This was the scene Sunday afternoon when the driver of a red SUV plowed into a parade in Wisconsin, killing five people, injuring 48 others, the SUV striking people marching in the parade, as well as those gathered on the sidelines.
Police have identified the suspect is 39-year-old Darrell Brooks. He has been released on — he had been released rather on bail just prior to the incident. Police say he was involved in a domestic dispute prior to the crash.
Welcome everyone. I’m Charles Payne, in for Neil Cavuto, and this is “Your World.”
We begin with Grady Trimble in Waukesha with the very latest — Grady.
GRADY TRIMBLE, FOX NEWS CORRESPONDENT: Charles, police say Darrell Brooks acted alone, and there’s no indication this attack was terrorism-related.
They say, moments before Brooks intentionally plowed through the parade route, he’d left the domestic dispute. Among those marching in the parade where school bands, dance troupes and other community groups. Five people ranging in age from 52 to 81 were killed; 48 more people were injured, including 18 children, the youngest just 3 years old.
(BEGIN VIDEO CLIP)
STEVE HOWARD, WAUKESHA, WISCONSIN, FIRE CHIEF: It was just — I guess for a lack of a better — just carnage, likening it to a war zone.
There were adults, children that were injured. Some of our first responders were there with their families. They left their families to treat people.
(END VIDEO CLIP)
TRIMBLE: Brooks is expected to be charged with five counts of intentional homicide.
He has a lengthy criminal history. He posted a $1,000 bail just days ago, after allegedly running a woman over in another domestic dispute. The district attorney’s office admits that bail was inappropriately low.
Back here live, Main Street has been reopened today, classes for all schools in Waukesha once again canceled tomorrow, and there’s a prayer vigil set to start in about a couple of hours — Charles.
PAYNE: Grady, thank you very much.
The suspect, Darrell Brooks, has a lengthy rap sheet and was just released on bail prior to that SUV plowing into the crowd. So what are investigators doing right now?
Want to ask former Boston Superintendent in Chief Daniel Linskey.
Chief, where do we begin? Walk us through now the process of the charges, evaluating it all. And considering the backdrop here, this man just released on bail November 11, for just $1,000, a very similar situation. The bail prior to that was $10,000. For some reason, they lowered it.
Just your thoughts and where we are with the investigation.
DANIEL LINSKEY, FORMER BOSTON SUPERINTENDENT IN CHIEF: Charles, we should not be talking about him being involved in another domestic event that then led to him fleeing and engaging in this horrific attack on the community in Wisconsin.
There has to be two investigations that occur here, one documenting exactly what happened, finding out if there’s any previous thoughts, search warrants on his computer and phones to see if he had known about the parade, had thought about it, or this was just, after he engaged in what was alleged to be another domestic assault, decided to maybe engage law enforcement in a highly dangerous situation where law enforcement would respond with deadly force, and a suicide by cop situation.
It’s clear that there was a direct attack on the folks in the parade route. It was unnecessary. And we shouldn’t be talking about him being involved in another domestic situation. The original situation where his domestic relation was run over, and tire marks were found on her leg, he should have been held in custody. If he was released, it should have been all kinds of terms, with probation checking in, GPS location on him.
And he shouldn’t have been allowed to reoffend again. So, the investigation has to document what happened that day and put all the evidence together to hold him accountable for yesterday’s attack. At the same time, we have to look at how the system failed the community and allowed this individual to be behind the wheel of a vehicle that he could mow down people in the community who were trying to enjoy a holiday celebration.
Yes, it’s absolutely heartbreaking, again, the five deaths, four women, one man, 52 to 81 years old in age, 18 children.
Ten times, he’s had run-ins with the law since 1999, resisting officer, chase, strangulation and suffocation, substantial battery with the intent to badly harm. It’s just one of these things that shocks the nation to believe that our system won’t protect us from the sort of repeat offenders over and over again.
And I hear what you’re saying with respect to separating these two cases. What would be the difference? I mean, you talked about him checking his searches and whether it was intentional or not. If it was spur of the moment, it’s such a heinous crime, what would be the difference anyway with respect to the charges, and ultimately maybe him never having to — the public never having to deal with him again?
LINSKEY: Yes, well, if it was intentional — the parade ramming was intentional, that’s one element that can make it the highest level of homicide that occurred. And even that, we might have that here.
But we want to find out, if we can, what was going on in the background behind. At the same time, we need to figure out how he slipped through the cracks going on here. All of the history we have seen so far is combative, resisting arrest. Those are all things that should be telling a judge, telling a prosecutor that this is somebody that doesn’t belong to be on the streets of Wisconsin, and needs to be held in custody until they can comport to the rules of civil society.
And the signs were there. And, unfortunately, we have had a groundswell to try and get rid of people held in bail, and we want to get rid of and not prosecute violent crimes. Domestic violence is a violent crime. Domestic violence is a violent crime by individuals who are probably going to take it to the next level if they have to engage law enforcement.
So the victim was in danger the minute this person got out on bail, and, as such, the entire community was in danger.
Chief, we got less than a minute to go. And to your point, though, there has been a big pushback against law enforcement, against bail, bail reform, and those sorts of things. You got to wonder, when does the sympathy go toward the general public? When does the sympathy goes for the people who’ve been involved with domestic disputes, whether with him or others who have been multiple offenders?
This isn’t one offense. It’s just shocking. It really is mind-boggling that we don’t have a wakeup call in this country to push back and keep the nation safe. This is — just one final thing. I mean, the band had just started playing “Jingle Bells” when this SUV plowed them all down. It’s just heartbreaking.
Chief, thank you so much. Appreciate it.
LINSKEY: Thanks, Charles. Stay safe.
PAYNE: Well, inflation weighing heavy on Americans, with consumers paying more for just about everything. Is it time for the president, Biden’s administration to start acting?
And back-to-back flash mob lootings in California raising alarms. What will it take for officials to start cracking down?
PAYNE: President Biden departing for Fort Bragg, North Carolina, this hour. He is set to address inflation tomorrow, now at its highest level since 1992, a sign the White House is getting nervous about price spikes ahead of the holidays.
Well, let’s ask McClatchy White House correspondent Francesca Chambers, GOP strategist Nick Adams with us, along with Democratic strategist Laura Fink.
Laura, is it time for the administration to start worrying about inflation?
LAURA FINK, DEMOCRATIC STRATEGIST: Well, I think it’s been a concern for some time. We know that inflation is up. We also know that profit margins are up, with the biggest U.S. companies raking in the biggest profit margins since 2019.
So, the Biden administration, you will see focused on where there are those lack of — the lack of competition in the marketplace, things like meat processing. That’s why the prices of poultry and beef and pork are up. It’s because there’s a bottleneck and a lack of competition with those processors. So, really addressing that and making the American public aware that often it’s the companies that are raking in that dollar, and they’re making money significantly above and beyond.
Is it pandemic profiteering? That’s the question the Biden administration will be asking corporate America and Americans.
PAYNE: Wow, Nick, it sounds like a speech that the communist leader of China just gave two months ago against corporations over there.
FINK: Excuse me?
PAYNE: Are we going to go to war? Should we go to war with American businesses in this period? Should we be blaming them?
FINK: Did we profiteer? Should we have competition?
PAYNE: I’m asking Nick.
Profiteering? Wow. That’s tough.
NICK ADAMS, REPUBLICAN STRATEGIST: Of course not. Absolutely not.
FINK: You just called me a communist. I thought I would defend myself.
PAYNE: No, no, I’m just saying that the Chinese president of — President Xi made the same exact thing, comments just two months ago.
FINK: Well, competition — Charles, I think we agree that competition is agree.
PAYNE: Let Nick get in here, please.
Nick, listen, inflation has a lot of sources. We know that. Some are saying the war on oil is the primary reason. The day that President Biden was elected, the market went up. Some are also saying these restrictive practices in California, AB-5. You can’t get a trucker to get anything off the trucks.
There’s a lot of reasons for this happening, including trillions of dollars being poured into the economy. That’s, by the way, inflation 101, too much money chasing too few goods. Nick, you have got the floor.
ADAMS: Oh, this is why I love you, Charles. I mean, you are a capitalist to the core. So am I. That’s what America runs on.
Look, Joe Biden is going to be eating his weight in turkey and pie this week, while Americans all over the country are struggling to make ends meet because of rapid inflation. That’s the truth.
Heating bills, they have gone up. Electricity bills, they have gone up. Paying for gas at the pump has gone up. Everything has gone up significantly. And it’s because Joe Biden’s economy is all about two things, spending money and printing money.
That’s what Laura and all the other communists and socialists and all the people that don’t understand how to make money…
FINK: Oh, have mercy, sir.
ADAMS: … they’re the ones that need to work it out. That’s how it works.
PAYNE: All right.
ADAMS: That’s why America has been successful, Charles.
PAYNE: Let me bring in the level-headed Francesca here.
Here’s the thing, Francesca. I think that this administration has made some really bad gambits in terms of finger-pointing, from the Afghanistan withdrawal, to the vaccination, fumbling some of that and these mandates. And I think — listen, obviously, the White House is looking at these poll numbers.
I mean, if you look at Gallup’s right now, we are in tremendous economic anxiety in this country. It’s going to be pretty dangerous that they tried to say this is all on business. Should they take any accountability at all, you think, tomorrow? Should we expect that?
FRANCESCA CHAMBERS, MCCLATCHY D.C.: Well, the White House is also — has anxiety over COVID-19 and where we are now vs. where the White House has hoped that the country would be on vaccinations and on other aspects of COVID-19, Charles.
And so — but when you talk about inflation, and what we can expect tomorrow, the recent messaging that we have heard from this White House has essentially been that inflation isn’t as bad as Americans perceive it to be.
The administration is arguing that turkeys are only going to cost American families about $1 more this year than they did before, the overall Thanksgiving meal, the basic items that you would expect to get for that, it’s going to be about a 5 percent increase in costs, that’s the number that they’re providing, than it was last year.
So even though the feeling of inflation, expensiveness of goods might feel like more than that, they’re trying to tell American, look, it’s not really as bad as you perceive it to be. And I would expect to hear more talk like that from the president tomorrow.
PAYNE: Laura, that would be, in my mind, a dangerous gambit, to tell people, listen, you’re walking out of the store with less stuff, with fewer backs than you normally would. But don’t worry. It’s just your imagination.
Is there any chance that maybe President Biden will say there’s something that’s been done here that maybe they could have changed? Or would that harm the rest of the agenda? Certainly, the Build Back Better program, that’s another couple trillion dollars that they would like to get through.
FINK: Well, I agree, Charles, that Biden is coming on the heels of a couple of legislative successes, on Monday, passing and signing into law the infrastructure bill, historic, something previous administrations could not get done.
FINK: And then we see the Build Back Better plan moving over to the Senate on Friday.
FINK: So that’s all really important.
And I also think, yes, he’s going to address inflation. He’s going to talk about the root causes. And he’s going to talk about the throughput at ports, and the fact that it looks like we have reached the peak, and we’re coming down from here.
So I think, with confidence, Americans can look not only that their disposable income is up 2 percent, including inflation, but that the pandemic constraints are easing. And that’s leadership President Biden can take credit for.
ADAMS: There’s buyer’s remorse, Charles.
PAYNE: Yes, Nick, the data that I look at — and I have studied this pretty intensely — is real wages are down in all but two of the months this year, when you add in inflation.
But I will give you — I will let you — from here, what do Republicans say at this point, Nick? Do they offer any alternative solutions? Or do they just sit back and watch all of this unfold?
ADAMS: Well, Charles, look, I think it’s very clear that there is very significant buyer’s remorse, although. And this is Jimmy Carter 2.0.
Republicans have seen this play out before. I think they’re going to sit back. They’re going to say this is awful, what’s going on, that Americans are having to suffer the way that they’re having to suffer. And we saw what happened a couple of weeks ago in Virginia and New Jersey and in other places around the country.
That’s going to be on steroids next year in 2022. Democrats are facing electoral annihilation. And it is because of this inflation. It is because of this economic mismanagement. Democrats just do not understand money or the economy.
ADAMS: You always have more money when there are Republicans in government. Even Laura believes me.
FINK: I laugh at you. I find you funny.
PAYNE: Francesca, today, we finally got the nomination — we finally got the nomination of Jerome Powell.
Many had thought it would happen maybe four or five weeks ago. There was a serious tug of war, right? Obviously, progressives want Lael Brainard. And some are saying maybe the tipping point was to get Joe Manchin on board with the rest of the agenda. He obviously is sort of the key right now.
Your thoughts on that decision-making process and what it does for the Biden agenda?
CHAMBERS: Well, when you talk about Joe Manchin and Senator Sinema being key here, it is difficult, if not impossible, for the president to get much done on his agenda if he doesn’t have those two senators on board.
And that would apply to any nominations, but also to anything else that the president would want to get done, including his social spending deal that they’re trying to get through in the Senate. And you talked about what else we could hear from the president on inflation or other issues before we expect to see the president leave for Thanksgiving.
CHAMBERS: And I do think that we will hear from him on the supply chain issues and what the administration has done to try and ease some of those also.
PAYNE: All righty, panel, thank you very much.
Meanwhile, the TSA vaccine mandate goes into effect tomorrow, this as the busy holiday travel season takes off. Will staffing issues leave airports backed up?
But, first, and President Biden tapping Fed Chair Jerome Powell for a second term. We’re going to go deeper into what it means for your wallet next.
PAYNE: Nordstrom is among the latest target in this string of organized thefts in California targeting high-end retailers, brazen thieves involved in smash-and-grabs.
So what’s fueling this California crime spree? We have got you coming right up.
PAYNE: President Biden tapping Jerome Powell to stay as the head of the Federal Reserve.
To Peter Doocy at the White House with the latest — Peter.
PETER DOOCY, FOX NEWS WHITE HOUSE CORRESPONDENT: Charles, good afternoon.
In renominating Powell, the president today reminded people that the last time he faced Senate confirmation, he cleared with 84 votes in the Senate, but, notably, Kamala Harris, then the senator from California, wasn’t one of them.
The president still sees Powell as key to stability at a time when inflation is a growing concern. But that’s not all. It’s not just economics, because the president also thinks the new Federal Reserve chairman, should he get approved again, can help with climate change.
(BEGIN VIDEO CLIP)
JOE BIDEN, PRESIDENT OF THE UNITED STATES: We have to make sure our financial system can withstand climate change and is prepared to transition to clean energy. The Fed must be a leader among central banks globally in addressing climate-related financial risks.
(END VIDEO CLIP)
DOOCY: The president is also trying to legislate climate change away with his Build Back Better social spending plan.
Some progressives are nervous, it’s going to get stripped of critical progressive priorities. But Republicans are arguing it’s just going to make inflation worse, as high prices are already hurting.
(BEGIN VIDEO CLIP)
SEN. TOM COTTON (R-AR): No, Bill, they don’t have a handle on it. I think those conversations at Thanksgiving dinner are going to focus in part on how much more expensive the dinner was this year, how some grocery stores are having to limit purchases of turkeys and all the fixings, or how much gas costs to the drive to grandma’s place.
The inflation that the Democrats have unleashed on this country is large and growing larger. This bill, by spending trillions of dollars encouraging people not to work, is only going to make it worse.
(END VIDEO CLIP)
DOOCY: We just saw the president a few minutes ago on the South Lawn boarding Marine One. He did not take any questions on his way to a Thanksgiving event at Fort Bragg, North Carolina — Charles.
PAYNE: Peter, thank you very much.
So, with prices spiking, should Jerome Powell focus more on fighting inflation in his second term?
Wheelhouse group chief investment officer and financial analyst Ann Berry weighs in now.
Of course, the Fed has a dual mandate, inflation on one hand, full employment on the other. And we know — you and I both know Jerome Powell has wanted to be — quote, unquote — “accommodative.” That means keep the market going and keep money flowing. But inflation has been a beast.
And so far, he has been able to hide behind the second mandate of employment. But many people believe it’s — we’re at a crisis now, he needs to take — start to step up.
ANN BERRY, WHEELHOUSE: I think that’s right, Charles.
But he is starting to step up. I mean, we have seen tapering start this month. And there is now broad anticipation that interest rates will start to tick back up, perhaps at the back end of last year. I think the key issue is, the battle against unemployment still is not over. We are still missing several million individuals from the labor force.
And I think, until Jay Powell has figured out the mystery of why that is, there’s going to be this ongoing tension between inflation and getting full employment back for a little bit — a little bit sooner, a little bit more time still to come.
PAYNE: You know what is interesting is that a lot of folks thought Lael Brainard would actually get the job, in part because of her focus on tamping down on banks, but also, as a progressive…
PAYNE: … someone who would want to make climate change a de facto — another de facto mandate for the Federal Reserve.
So how surprised were you when it sounded like President Biden suggested that that would now be a mandate under this Powell Fed?
BERRY: Well, I think it’s interesting. I think a couple of things.
She’s also a dove. And so I think the fact that she wasn’t appointed came as something — a bit of a relief for folks who were worried that there would be low interest rates for much longer, continuing to stoke this concern about inflation. So I think there’s a piece of relief there for the markets.
I think also the fact that one thing President Biden does have his finger on the pulse on is, the market really needs continuity right now. There is still a lot of uncertainty, whether it’s the new COVID outbreaks, whether it’s getting a handle on the supply chain, whether it’s understanding this unemployment mystery.
And having change at the helm of the Fed now just wasn’t right — the right time at all. So I think this is the right decision. And I think the market is breathing a sigh of relief.
PAYNE: The market is, although sort of anti-climactic. We had a big move up and then a lot of selling off.
PAYNE: But here’s the thing. Last week, the chief economist at the Labor Department shot across the bow — took a shot across about the Federal Reserve, saying, we want you to keep pumping, do not hit the brakes, that we don’t care necessarily about inflation, because we care about unemployment, which is kind of odd, because if they would just pull back on the free money, they would get people to go to work and inflation would come down.
Needless to say, this administration is pretty clear when it comes to printing money. They want to see Jay Powell continue to press the pedal, continue to keep money out there, continue to keep free money out there.
And do you think, even though he will have some sort of freedom, he won’t have the pressure of worrying about being renominated again, that he will feel beholden to the administration, to the president to keep doing that as much as possible?
BERRY: I don’t think so.
I think one thing I will say as a Jay Powell plus point, I think throughout the last several years he’s been in office, he has been proven himself to be relatively immune to political pressure. We saw under the Trump administration there was a lot of pressure put on Jay Powell at points, and he didn’t yield.
I don’t think he’s going to this administration. Not only that. I do think the fact is that President Biden is trying to put other levers, whether it’s looking at oil reserves, whether it’s looking to address lack of full employment through his social welfare measures.
I think it’s become clear that Jay Powell is not going to be alone as he tries to tackle unemployment.
BERRY: And I think, in a way, that takes the pressure off. Fiscal is moving on this too.
PAYNE: OK, so let’s pick up on that point, though, with respect to releasing oil from the Strategic Reserves.
Our oil has come down a lot anyway in that reserve. We’re nowhere near capacity. Be that as it may, what kind of an impact would it have on gasoline prices a month from now? We know, maybe short term, it would have an impact. But would it be just mostly for public relations consumption?
I mean, this would not change the course of where crude oil is and certainly where gasoline is over the next two months or so.
BERRY: The rule of thumb has tended to be that if gas at the pump starts hitting four bucks, then that is where consumers really are feeling the pain.
And I do think the administration is trying to keep gas prices away from that mark. I think one of the most interesting things about the global discussions to try to control oil prices, the U.S. is reaching out to Japan and to China and to India to try and have a coordinated approach, so that if OPEC continues to pursue a pathway where there may be upward pressure on all prices in this inflationary time, this would be a counter.
BERRY: And I think this shows that global collaboration is top of mind right now, as there is a real effort to try and get through this reawakening of the economies in a sustainable fashion.
I mean, I just — I just hate to say, but it’s going to be a Band-Aid. They don’t have to reach out to anyone. We have got American producers here. Let them drill. Let them drill. We have got it. We have got it. We don’t need it. We could be at $1 oil if we wanted, if we really cared.
Ann, nice seeing you. We will talk again real soon.
Meanwhile, San Francisco, folks, hit with back-to-back mass looting over the weekend. Are lax laws keeping officials from getting this thing under control?
PAYNE: To California now, where Nordstrom is just the latest in a group of Bay Area retailers to suffer mass looting incidents, And just one day after an organized mob in San Francisco targeted high-end stores and that city’s posh Union Square area.
FOX News senior correspondent Claudia Cowan is in Walnut Creek, California, with the very latest — Claudia.
CLAUDIA COWAN, FOX NEWS CORRESPONDENT: Well, good afternoon, Charles.
That’s right. A string of looting incidents has retailers and customers on edge around the Bay Area. Now, the most brazen of these attacks happened at this Nordstrom here behind me, happened Saturday night. Dozens of robbers in masks could be seen flooding into the street after ransacking this store, carrying thousands of dollars in merchandise to a line of cars just waiting there at the curb, their escape routes well-planned.
Witnesses say there were as many as 80 people wearing masks and carrying crowbars and hammers. Three people were arrested, including a suspect with a gun. Two employees were assaulted. One was pepper-sprayed.
The looting here coming a day after thieves hit a dozen stores in San Francisco, including Louis Vuitton, Hermes, and Bloomingdale’s, stealing a million dollars’ worth of clothing, jewelry, handbags and other goods the thieves know will sell quickly online.
Police were on site within minutes. They managed to stop at least one of the getaway cars and arrest eight people. They also seized several firearms. Investigators are sifting through surveillance video and say they are confident more arrests will be made.
Organized retail crime in San Francisco has only gotten worse, despite the viral videos and recent closures of CVS and Walgreens stores, where shoplifters clear out shelves every single day. Critics say nothing will change without vigorous prosecutions and the repeal of a state law that classifies theft of under $950 as a misdemeanor.
There were two other major looting incidents just last night, and all of this very deliberate in terms of the timing, Charles, because all of these stolen goods will be marked down and sold online just in time for Black Friday.
So, on top of the COVID closures and the supply chain issues, this is just a one-two-three punch for retailers — back to you.
PAYNE: Certainly is.
Claudia, thank you so much.
So, are lax laws to blame for this shoplifting search?
I want go to former New York Police Department Lieutenant Joe Cardinale, who joins us now.
Joe, lax law, lax bail, lax prosecution, lax sentencing, I mean, should we just say there’s no disincentive to not join one of these organized shoplifting rings, is there? I mean, it just feels like a free-for-all over there.
JOE CARDINALE, FORMER NYPD LIEUTENANT: This is a free-for-all, Charles. And we have been speaking about this for over a year now, ever since the riots and everything. They first blamed the riots. And now it’s just any incident that they can gather to get everybody together.
This is well-planned, as the reporter said, and it’s going to continue, except for one variable right now. They’re becoming a little more violent, and they’re becoming more dangerous, carrying the guns and the crowbars. And so they’re ready to do business if they have to live with anybody that tries to stop them.
But you can blame your politicians, especially Governor Newsom in that state. He steps up to the microphone today and he starts telling everybody about the steps he’s taken to combat this. But it’s a day late, dollar short for him, because he allowed it to go on so long that they are so emboldened that they know, until things change within the DA’s office and there’s proper prosecution for this, it’s going to continue.
Yes, Joe, I have always said that one of the situations is always with the sentencing and — or lack thereof. And, unfortunately, when that isn’t correct, when that isn’t a deterrent, it puts undue pressure on the police. It puts terrible pressure on society and communities. And it feels like those are getting actually worse, more lax.
And we started the show with someone who had a rap sheet from here to out of this window who got — who paid a $1,000 bail on something that he shouldn’t have even been offered bail at all.
So, how do we get politicians to say, let’s rewrite the rules? Let’s keep the bad people in prison for a long, long time. Let’s discourage these sort of organized things, to your point, several handguns there and using physical intimidation. Let’s discourage that, first and foremost, because isn’t that where law enforcement begins, with discouraging, disincentivizing these things?
And the problem is, is that law enforcement, because of the dilemma that they face with the public wanting to defund them and everything else going along with the police, the demoralization, the problem is, is that police departments have become reactive, and not proactive.
And we need a proactive police department to go out there and do the jobs they have to do, put the undercovers into the stores, let the malls know and work with them. But these stores are so afraid of the wokeness and everything else out there that they actually let these things happen.
CARDINALE: Like in the drugstores, as you were mentioning before, I mean, there, what do you call it, ideal solution to this whole dilemma, close the store, we will open up at another location.
But who does that affect? That affects the people in that neighborhood that count on these stores.
PAYNE: Yes. Yes.
CARDINALE: So they put their tail between their legs and they go.
But we need the prosecutors on board with the police departments.
CARDINALE: The police departments are stymied by this because the prosecutors will not take the steps to go above and beyond and say, we’re going to make a new law for this. We have to go out there and start prosecuting them, putting them in jail, and don’t let them out on the bail reform issues.
CARDINALE: Keep them in there. That’s what the jails are for, to keep these people off the street away from society.
PAYNE: I agree 1000 percent.
My first job in Harlem at 13 years old, Joe, I worked in a bodega by myself. I had a crowbar. I was only 13, a skinny kid. And they used to come in and bully me almost every single day. And I was quaking in my boots every single day. I was so afraid.
I could just imagine these people working in these stores. You just back up and let them take it, right?
We got to go. But it’s always great having these conversations with you. And I hope something happens, because the real victims are the people who have to live in those neighborhoods and work in those stores.
CARDINALE: You got it, Charles.
PAYNE: Speaking of neighborhoods, folks, welcome to the neighborhood.
If home prices are surging, why are so many people still buying? We’re going to get the latest from Main Street.
And no jab, no job, no holiday joy. Why the vaccine mandate for TSA workers could put a major damper on your travel plans.
PAYNE: Some breaking news for the 2022 midterms.
Sean Parnell, the Republican Senate candidate in Pennsylvania backed by former President Trump, has suspended his campaign, this coming after losing a child custody battle. We will bring you more as we get it.
Now this. More of you are signing on the bottom line, the dotted line, existing home prices last month rising the fastest pace that we have seen since January, and now this coming despite tight supply and surging prices.
So what exactly is going on here?
Let’s get the read from real estate guru Katrina Campins, founder of The Campins Company.
Everybody wants a house.
KATRINA CAMPINS, THE CAMPINS COMPANY: They do.
PAYNE: It seems like, the more they go up, the more people want them. I’m sure you see this on the front lines.
CAMPINS: Hey, Charles. Great to see you.
So sales continue to rise. And one of the main reasons economists are attributing this to is job creation. So, the housing numbers just came out. And the housing — existing home sales are actually up 0.8 percent, for a seasonally adjusted rate of 6.34 million units.
And part of that growth is attributed to investors entering the market. But it’s become very difficult for first-time homebuyers to compete with these investors because these investors are paying cash.
CAMPINS: And the reason these investors are actually entering the market is because rental prices are skyrocketing.
CAMPINS: And so there’s plenty of evidence as well that first-time homebuyers are actually purchasing less.
They — the numbers just came out, and 29 percent of the first-time homebuyers this year, and then the year prior to that, it was 32 percent first-time homebuyers.
CAMPINS: And, historically, that number is about 40 percent.
So — but we’re seeing the real estate market around the country continuing to remain strong. And I don’t see that changing anytime soon, Charles.
PAYNE: People, though — and I read through the report. Obviously, the sales are up. Prices are through the roof almost every single report.
I can’t remember the last report where the price actually went down, because those large deep-pocketed folks you are talking about, those professional investors, a lot of big Wall Street firms, they’re paying well over asking price, knowing they can get it back as a rental property.
But, still, a lot of people I know want to own a home. And one thing that’s different about this housing rally than before, right before the Great Recession, is the credit scores are so high. I mean, it really is tough, if you don’t have pristine credit and a lot of money to put down, isn’t it, to get involved and own a house right now?
CAMPINS: Well, it is.
But the market is very different than it was years ago. For instance, we have a 2.4-month supply right now. And a healthy market is between five to six months. So, first-time homebuyers have a difficult time because there isn’t enough supply in the market. So that’s why prices are rising.
And then investors are coming in and they’re paying cash. And mortgage rates are still relatively low, historically speaking, but it’s become more difficult to get a mortgage. But first-time homebuyers are having a challenging time.
CAMPINS: Now, the luxury market is completely different, because that’s actually risen by over 31 percent.
So it’s really — it really changes depending on the price category, because homes under $250,000 actually fell, whereas everything above that really increased this year.
CAMPINS: And we’re set to really — I mean, we’re — the numbers are just absolutely insane, Charles, as you mentioned, so — and I really, truly believe that people are using real estate to hedge against inflation.
COVID has really created just an awareness of the importance of life. People want to be around family.
PAYNE: Absolutely. Absolutely.
CAMPINS: They want to be around friends. The home has become a very important space for them.
PAYNE: We have seen a major exodus out of these major cities.
I think, when COVID first hit, people were wondering, do I want to live in a 30-story building and not know who just touched those elevator buttons? Also, though, the advent of working from home, it’s pushing this whole thing away from cities, right?
Are you seeing prices go up, like, even further deeper into the suburbs than maybe you have seen before?
People want more land. They want a home office. They actually want space for their children. They want homeschooling areas. And so you’re beginning to see a migration really where people want a better quality of life. They don’t want to be in condos as much as single-family homes, which is why, when people ask me about the real estate market, it’s really completely different when you’re dealing with single-family homes, as opposed to condos.
CAMPINS: They’re two completely different animals.
And the single-family home market is also having challenging times because of the supply chain issues. That’s something that we haven’t discussed yet. Homebuilders are very bullish. They want to go into the market, but they still have a difficult time getting these supplies.
CAMPINS: And the price has skyrocketed as well because of the cost of containers and so forth.
CAMPINS: But I think, overall, the builders are going to continue to remain bullish, and buyers will just have to wait a longer time for those homes to be delivered.
PAYNE: Katrina, it’s still the American dream. I know it’s getting out of the reach of a lot of folks.
CAMPINS: It is.
PAYNE: But it has been the American dream.
You have been fantastic. We appreciate it. And it’s been far too long. Hope to see you again soon.
CAMPINS: Thanks, Charles.
PAYNE: Meanwhile, folks, Americans heading out to the airports this week might want to get ready for longer lines. We will tell you what to expect.
And, as COVID cases tick up in some areas, how you can keep your Thanksgiving dinner safe. That’s next.
PAYNE: Get ready for holiday travel chaos this week, the TSA screening more than 2.2 million passengers on Friday. That was the busiest screening day since before the COVID-19 pandemic.
This comes as today is the deadline for TSA workers to get vaccinated.
FOX Business correspondent Madison Alworth is live at Newark Airport with how all of this may impact your Thanksgiving travel — Madison.
MADISON ALWORTH, FOX NEWS CORRESPONDENT: Hey, Charles.
Like you mentioned, we are seeing busier lines, the busiest TSA lines that we have seen since the start of the pandemic, all of this happening as we enter into that busy Thanksgiving travel week, coinciding today with the vaccine deadline for those TSA employees.
That’s tens of thousands of workers that need to be vaccinated across the U.S. Leading up to this deadline, there were concerns that it might result in delayed lines and poorer service. But we are seeing some good news today.
So, TSA tweeting earlier today, saying that 93 percent of their work force has been vaccinated — has been COVID-compliant with this vaccine mandate. As for those that aren’t compliant, TSA telling FOX Business that unvaccinated employees will be educated on the vaccine, and for the time being will still be paid and able to work.
So, despite today being the deadline, unvaccinated workers are still on the job. Now, it’s important because TSA expects to screen around 20 million travelers this Thanksgiving week. Because of that, they are recommending that people arrive at least two hours before their flight.
Travelers have experienced delays and aren’t taking any risks.
(BEGIN VIDEO CLIP)
UNIDENTIFIED FEMALE: We got here on time, but, apparently our flight is delayed 45 minutes.
UNIDENTIFIED MALE: Well, we got here like three hours before our flight because we assumed it was going to be like a lot of people in here. We thought it was going to be packed.
So, we — and we are not familiar with this airport. So, we just wanted to make sure we had plenty of time.
(END VIDEO CLIP)
ALWORTH: The people that are traveling today actually have it a bit easier, Charles, because it doesn’t really ramp up. Our highest numbers of travelers for Thanksgiving, that’s going to be on Tuesday and Wednesday and again on Sunday, when those people go home — Charles.
PAYNE: Madison, thank you very much.
Once you navigate this hectic travel to your Thanksgiving destination, what do you need to know to gather safely, as a lot of states are now seeing upticks in COVID cases?
I’m going to bring in Dr. Marty Makary, Johns Hopkins University medical professor, also FOX News medical contributor.
Dr. Makary, we’re seeing cases spike up here, in fact, the CDC saying that seven-day average now 92,000. That’s up 18 percent. It was only 70,000 about a week or so ago. So, people are concerned.
What safety measures should they take?
DR. MARTY MAKARY, FOX NEWS CONTRIBUTOR: Well, Charles, you’re right. It’s getting cold. People are going indoors. And there’s still a group of people in the United States with no immunity whatsoever.
We need to recognize, first of all, that the risk is heavily concentrated in the people who are still getting hospitalized. That is adults with a risk factor like obesity, something we don’t talk much about, that have no immunity, no natural or vaccinated immunity.
And — but, for everybody else, I would not be afraid. I would not hold back. People need to make human connection after almost two years of losing that human connection. And, remember, the risk of a breakthrough hospitalization is low. If we use the CDC number, it’s one in 26,000.
And that one out of 26,000 has an average age of 73. And an average age of dying of a breakthrough infection is 80.
PAYNE: Right, of course, and people are eager to get together.
I got to tell you, every time I have something at the house, more and more people show up. I had my nephew’s birthday over the weekend, but a lot of people showing up in Europe over the weekend over these vaccine — some of these mandates over there.
I mean, some of these protests got violent. Austria has actually implemented a full lockdown. Germany said they’re worried they’re going to run out ICU beds. It’s like what we were thinking about or seeing about last year.
And Germany and the rest of Europe got very high marks with respect to how they were handling all this. So how did they get back to this situation?
MAKARY: Well, their population immunity levels are lower on both — on both ways in which you drive population immunity. Their ‘vaccination rates have been lower, and their natural immunity rates have been lower.
And so Europe is dealing with a hard time right now. Now, they have lower rates of comorbidity in general. So that’s in their favor, but the case numbers are going high as it gets cold there. Also, they’re looking at Sweden. Turns out that Sweden’s got a lower death per population rate than many countries in the world.
And, right now, they’re recognizing that, hey, this indiscriminate lockdown everybody strategy is not the right strategy. The data have come in now. And that’s why you’re seeing tens of thousands of people protest today in Brussels in Belgium.
PAYNE: Yes. And, of course, Sweden was the one that was doing it wrong, and, to your point, maybe not so in the after — in the — afterwards. We will see.
Meanwhile, it’s always great talking to you, Doc. We will see you again real soon.
Meanwhile, that does it for us here, but you will see me tomorrow 4:00 p.m. Eastern time. Also, make sure you catch me on “Making Money” weekdays 2:00 p.m. Eastern on the FOX Business Network. It’s a big week for the stock market.
But, right now, “The Five” starts.
See you tomorrow.
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