Hey everyone meet kevin here. Welcome back to another closing live stream. We have the stock market still mostly green. We actually held on to gains today, which is pretty impressive, because very very frequently.

We have seen markets open green in this last like six week period. Here. Only to rotate uh substantially red hit lows within the day. Try to recover within the day then hit lows again at the close, but yesterday was our indicator that all of a sudden things were different.

Yesterday we broke trend. We broke trend with the s p 500. I will show it to you uh. I will not rehash what we've seen previously, but when we look at yesterday's trend on the minute chart, we saw something very special yesterday for the first time we actually ended up.

Despite opening higher rotating down, we ended up closing higher than we did the lows of the day. That was a trend break not including last friday. The four days before that all had the end of the day include fund sell-offs, institutional sell-offs, trader sell-offs, and we saw stocks fall into the close that broke uh today, uh or or is, is breaking right now. Uh, i'm sorry that broke yesterday and we are seeing the results of that today.

An s p 500, that is up 1.37 percent, an s p 500 that opened up up and took off from there. It's been relatively flat in the day intraday, but we're going to see how we close today are we going to have a sell-off today? Are we going to revert back to what we saw monday, tuesday, wednesday thursday of last week? Look at it it's incredible monday, tuesday, wednesday, thursday of last week, you saw if this was. If today was one of those days last week, we would see the s p. 500, come right back down to this orange line right here into the close, and that has historically been a decent buying opportunity by the dip opportunity.

Now i saw industry indices opening up green this morning, but even though i knew the market was opening up green this morning, i still made purchases this morning in this volatility here, because i believe that pricing was still much more fair at this point than what we've Seen with some previous highs in let's say august or early september, for example, bought en phase bought lemonade uh, and i also bought my basket at medkevin.com pie. So uh this is uh. It's been a market of buying the dip been very excited about that. I have been watching here, though, uh roblox fall about six percent kind of heading back to ipo pricing, not so great for arc invest, also been watching.

Camber energy sell down. Camber energy is a company that i tried to short at four dollars and eighty cents. You saw it here on this live stream. I tried pressing short.

I went to options to try to short this thing when this thing was at 4.80, i was not able to sort it short it, and i was very disappointed about that now. When i zoom out. I'm also extremely disappointed about that, because you could see that 4.85 cents was the top and it's now at a dollar and 61 cents. That's because, fundamentally, this company loses money, it's overvalued, but it was a momentum mover.

A momentum mover much the same as we're seeing momentum movement in the sheep army. Now, that's not to say that the sheba army has to suffer a similar kind of fall as what we've seen with camber energy here. It wouldn't surprise me if a lot of people who weren't camber are going to sheep right now, uh, but sheep has had some some pretty incredible volatility, some incredible peaks here and uh on the seven day chart. It's it's been on a complete tear here.

It's really incredible, but uh. We want to always be cautious that if we are in a uh, a momentum movement, we just want to remember it's okay to take profits. If you want to huddle, you can but don't ask why you're holding bags if the momentum goes away, that's sort of the rule of thumb but play it. You know play momentum, plays it's okay to be a part of the movement, it's okay to invest in them.

You get a big squeeze and you get out. That's fine! That's what everybody wanted to do with amc right. A lot of people didn't want to be holders in amc. They wanted to get in for the mo ass and get out and who knows, maybe that'll still come uh anyway.

So let's go ahead and take a look at some of the other things going on here and it does look like biden is expected to speak uh about 12 30, but uh, probably not until 12, 45 to 1. biden scheduled for 12 30, but expect him to Start around 12 45 to 1.. There we go and there we go. Okay, perfect, all right! So, let's see here lordstown motors down 11 percent here yeah getting smoked, really uh.

It's sort of catalyst really started after the sale of their facility to uh foxconn volatility index down very nicely here, uh down about point four: nine percent: it's awesome, uh good to see volatility come back down because that means beer is leaving the market and remember. This is an expectation that we've had now. We think that expectation is going to go down specifically because we're going to get jobs numbers this week. That's going to solidify information for us in terms of what to expect on uh on the taper, because the federal reserve is going to be closely looking at these job numbers and then when they have the job numbers we're going to know.

Okay. So where do we stand now? Are we are we going to taper in november? Are we going to delay again? The expectation obviously is uh that we are going to taper in november and be finished tapering by the middle of next year, potentially as late as the fall of next year, which i did think it was interesting that the federal reserve earlier today did indicate that they May wait or to the fall of 2022 to complete their taper, but then again that was only one person at the federal reserve, so not necessarily uh and and everyone response so uh, let's see what else we have here, we have jumping on over okay. Here we go, let's see, let's look at what's going up, we got 15.5 on smile direct, so we've got some love. Coming back to smile, direct you've got uh marathon, digital up nine percent cloud flare, kicking butt.

I've been watching this one considering starting a a position in the cyber security place, specifically because of the madness that we've seen even with uh with with the facebook outage here, and that's not even to suggest that for sure uh. This facebook crisis was a matter of security, but it certainly is a matter of problems with the internet, so incredible moves here on cloudflare. Finally, moving back up after rotating down here relatively sharply for a period of time, coming back down to uh, really just july pricing, but going right back on its tear over here dogecoin up 7.34 likely moving because of the uh sheep run. We've got micro strategy up.

Six and nine lee auto up six point: two four netflix coming back with a 5.78 look at that run on netflix i mean you have been trading relatively sideways here for quite a while and uh. Now we are at an explosive level of of growth. Here. All of a sudden uh - and it came a few weeks after earnings.

Now it came actually about a month after earnings that all of a sudden, you got this explosive growth here, uh yeah! Well, i know that's what i said that uh uh facebook wasn't security related. We did a video on that yesterday, but uh. You still have this potential impression of people thinking. Oh my gosh look at how much damage it's a collateral effect right.

People think, oh, my gosh look at how much damage can can happen when something shuts down. Imagine if it was a hack, that's my expectation unless, of course, there was news on cloudflare which we could pull up. If there was news on cloudflare, cloudflare ah got ta say it correctly, so uh all right, let's see dq new egg coinbase all right all right. Let's see what we got here, so i want to take a peek at btc as well.

While we get our terminal off, btc usd always got to write that usd in there all right. Here we go so uh bitcoins, almost at 51 000 folks uh. Earlier this morning i talked about how crypto was really taking off the more and more we're seeing the evergrand crisis resolve itself and uh. We are seeing that to be true.

The less fear that we have in the market uh ironically, even though often crypto, is deemed this uh safety asset. The more people are uh flocking back uh into crypto and the more institutional investors. The more individual investors are going back into crypto, but it is a pretty positive day for most stocks today. Uh, keep in mind that this could be like a 49 stock that went 251 dollars and it'd be relatively similar.

It's just here. We consider it one thousand. It seems like such a much larger move uh so percentage-wise, though about three percent upstart moving up about three percent as well. Facebook up two point: six: four percent: after their hearing yeah facebook, obviously having sold down here uh since about the end of august, we've really sold down this last month's, been a little rough for facebook same for some of the other tech companies.

Google coming back end phase sitting at 147, coming back a little bit during the day here so far, 147 and then again back to the downside, yeah there's camber going down 55. My goodness it'd be interesting to see if it goes back down to a dollar. I mean full-on legit pennies. I mean it's always been a penny stock under five dollars is penny stock, but then i then i look at it.

I'm like yeah, it's a penny stock right because it's actually trading for pennies yeah, not that you necessarily want that. For company, but that's uh, that's the way the market works. Okay, we were going to look at cloudflare. So, let's see if there was any news on net, let's take a peek here, all right, so individual company news for cloudflare.

We have cloudflare call volume above normal and directionally bullish where cloudflare stands with. Okay, no, no reason wells fargo starts cloudflare at equal weight price target 122.. Ah that could help okay, a price target upgrade by wells fargo, and that is an initiated. Uh coverage, which is great and there's been so much concern about this, potentially being a hack, related incident that the ceo of cloudflare says: there's no suggestion of an attack in the facebook outage.

So it's fascinating because that's anytime, we go to. We recognize the fragility of our our computer systems. Hacking is something that we immediately go to, which which makes complete sense. So all right, let's see here right, let's take a look at what we've got going on uh.

While we wait for joe biden to speak. Let's see what's going on in the news, give me actually, let's see, what's your news alert, sarah, let's hear it real plant workers have gone on strike, including at plants in nebraska, michigan, pennsylvania, tennessee. The company telling us right now in a statement that they are in negotiations with the union. Adding quote we are disappointed by the union's decision to strike kellogg, provides compensation and benefits for our u.s ready-to-eat serial employees that are among the industry's best.

Our offer, including could you imagine, if tesla, had union workers? Ladies and gentlemen, please welcome to the stage john osie training director operator. Sorry, i have this playing here in the background, because we're waiting for joe biden to speak and uh yeah look at that. You got ta set up the caterpillar, build back, better posters and such so hey look there's joe there. He is it's actually earlier than i expected him to show up all right good afternoon, everybody and good afternoon, and welcome to the international union of operating engineers.

Local 324 construction - you know what we'll do is. We will wait for uh biden to actually speak in the meantime, we'll uh we'll explore a little bit here. So we'll come back to this uh speaking and we want to. We want to listen for biden so once once we get biden up we'll be right.

There, uh stocks, rebound treasuries fall ahead of jobs. Data market rap yolo crowd losing some of its appetite for buying the dips. Oh check this out. Oh retail traders, the market's most avid dip buyers earlier this year, are showing some evidence that the famous you only live once appetite for risk is losing steam.

Individual investors were hard at work in previous sell-offs in the past year, but are largely sitting this one out. As previous drivers of euphoria, like stimulus, money and federal reserve backstop are fizzling out, that's fascinating to me that, potentially because of less stimulus, money or less unemployment, funding we're seeing less yolo style trading. I do want to see what metric they're tracking, though, to actually determine that, after the s p spent two straight weeks in the red small lot options: traders, those buying 10 contracts or less at a time, spent just 43 percent of their total volume on bullish contract. Uh bullish contracts, rather the lowest share so far this year.

That's interesting, so they're, just basically tracking people who are doing small volumes of contracts, assuming those are the retail investors as the market sold off further last week. They eagerly paid up for puts so much so that the daily average premium they shelled out for protection jumped to 480 million dollars the most since may. According to the options clearing corporation, that's incredible folks, uh! That is something that i definitely did not recommend. Uh.

I made it very clear personally, and you know you could always be wrong. Everybody ultimately has to make the decision for themselves. It's not financial advice for you, but come on the catalysts we have are temporary. We know that we talk about them over and over again and i'm not talking about inflation being temporary.

We know that's lasting a whole lot longer than expected, but the ever grand crisis it's blowing over. It's sure there's still issues going on, but it's getting better uh. The uh that's leading cryptocurrencies to go up. We've already passed the budget, we're not doing a government shutdown, we're gon na get this debt ceiling, and the infrastructure package done we're about to hear an update on this stuff uh.

You know cpi and jobs. Data is going to come out. We've got pretty good clarity on when the tape is happening anyway. So, who cares what it really happens with these reports? Uh? It would have to be some kind of like total oddball for for anything to come out of it, but anyway uh, while the while the premium small lot traders pay for rut.

Protection is still off the january highs, the figure or the amount of premium the amount of folks buying puts is still off of the january highs. The figure has been rising as the stock market kept falling signaling expectations for more losses to come so january. Check this chart out right here january is right here, and it looks like a lot of puts were bought in january around the gamestop, or this was mid-january. That's not so good.

This was the better time to buy, puts right here mid-february. It looks like and then a little bit around that may 12th time, but uh yeah, i mean those. Those were false. Now it depends, did people buy them after the market were starting to fall or before the market were starting and that's the issue? Is people see like two or three days of red and they freak out anyway biden's up uh, let's uh, we'll get back to this.

As the single best workers in the world, because you're the best trained, i wish the american people understood how much serious serious training goes into being a union worker. I really mean it you're, the best in the world. I was kidding. Someone said to me earlier that uh i said: i'm a union president, i'm i'm a union, i'm president of sports unions, not labor unions, and someone pointed out to me that i allegedly have you used the word union as president, more than the last seven presidents combined, You built the country, no, not a joke.

You have built the country and it's great to be here with several excellent members of congress. Uh lisa, slotkin, uh melissa, you uh, you don't want to screw around with her she's an intelligence officer as well, so she's forgotten. Well, while he does his introduction here, make sure you remember to get your up to seventy dollars in free stocks, by going to medkevin.com public get up to seventy dollars in free stocks, they won't buy or sell your information and don't use payment for overflow paid for Not a single penny raised in taxes of anybody making under 400 grand and debbie you're the best in the world. You and john have been so friends of mine.

You've been for so so long. All right, let's hop to it biden come on. Let's go, we all want to hear what's going on with the infrastructure emotionally difficult, but you you've done an incredible job. He's got to get those union votes.

Thank you and dan. I uh uh you're, okay, dan! You, you ain't! You ain't! Quite like the woman sitting. Next to you, but all kid in the side, dan you've done a great thing. I mean i really mean it.

You're always there for everything. It's important constituents and you understand what i'm going to talk about a little bit later. The way we built this country is from the bottom up in the middle out, not from the top down, and you get it and andy. As my dad would say, you got good blood kid uh and uh.

Thank you for what you're doing. Thank you for stepping in, and thank you for the great job you do michigan. I also have it's also fortunate to have an outstanding united states senators who are doing what they're supposed to do they're in washington, because the senate's in debbie and gary are in washington. Now and to cast some come on man, let's get to the point.

Of course it's great to be here. Sorry, all right! That's me: we've become friends, an outstanding governor one of the best governors in the united states of america and her lieutenant governor who uh covers her in every way, both in terms of physically and mentally and every other way is this immature action. Thank you. Thank you.

Thank you look, i know, there's a lot of noise in washington. There always is, but it seems to me a little more than usual now a whole lot of hyperbole a lot of heat, and i'm here today to try to set some things straight. If i can, i want to talk about what's fundamentally at stake for our country now at this moment i know it's an overused phrase, but i've been using it a lot, we're at an inflection point every anywhere from 49 years in america. There's an inflection point.

We have to choose what direction we're going to go. What we're going to do. Do they watch my videos, but what are we gon na who we're gon na be for a long time, america set the pace across the entire globe for the better part of the 20th century. We led the world by a significant margin in investments in ourselves.

In our people, in our country, we invested in our infrastructure and our roads, highways bridges, ports, airports and the arteries of the nation that allow commerce to function smoothly and swiftly and allow us to generate significant income. We've invested in our people and opportunity we're among the first to provide access, for example, to free education. It's a reason why in the 20th century began to take off it was back in the late 1890s. We decided among the first countries that we're going to be the first nation at every single american, regardless of their background.

No one at the time, regardless of the background, but based on income, would have free 12 years of education. We invested to win the space race. We led the world and research and development led to the creation of internet, and you know, but then something happened. We slowed up, we stopped investing in ourselves.

America is still the largest economy in the world. We still have the most productive workers and the most innovative minds in the world, but we risk losing our edge as a nation. Our infrastructure used to be the best in the world, literally not figuratively. Today, according to the world economic forum, we rank 13th.

Our infrastructure 12 nations have a better infrastructure than we do, which means they can move product. They can do so many things better than we can do it, we're among the first in the world to guarantee access to universal education. Now the organization of economic cooperation and development ranks america 35th out of 37 major countries when it comes to investing in early childhood education as a percent of gdp. Think of that think of that of all the industrial nations in the world.

The instinct americans would say if you ask them 25 years ago and say we're number one. We are not there's only two industrial nations that are lower than us all. Those investments have fueled a strong economy. We've uh we've taken our foot off the gas we've taken.

We just i don't know, what's happened, the world has taken notice by the way, including our adversaries and now they're closing the gap in a big way. So it's essential to regain our momentum that we've lost and work hard. You know the work of our time. It seems to me those of us all public office is to prepare ourselves to be more competitive and to win the fast changing 21st century in the global economy.

Things are changing incredibly quickly. That's why i proposed two critical pieces of legislation being debated back in washington right now, the first a bill to invest in our physical infrastructure and the second is the bill to invest in our human infrastructure. I'll talk about both these bills in just a moment, but first i want to set one thing straight: these bills are not about left versus, right or moderate versus progressive or anything that pits americans against one another. These bills are about competitiveness versus complacency, they're about opportunity versus decay, they're about leading the world or continue to let the world pass us by which is literally happening so support these investments is to create a rising america.

America's movie to oppose these investments is to be complicit in america's decline. To support these bills is to pursue a broader vision of our nation and oppose them is to accept a very cramped view of our future. This isn't about two pieces of legislation. It's about the inflection point i mentioned earlier.

We are in our history, the world history, so here's what i'm proposing. First, the infrastructure bill. It's about rebuilding our roads, our highways, our bridges, our ports, our airports, our broadband, all the things that need repair. Our arteries of our economy have always been fueled by the economic might and dynamism of americans across the country.

Right now, 45 000 bridges and 173 000 miles of roads. According to the engineers, societal engineers are in poor condition right now, including more than 1200 bridges, as the governor has been fighting to repair here in your state, 73 7 300 miles of roads here in michigan i'll bet. Everyone in this room can tell me what the most dangerous intersection in this town or any town they live in and where it is that you hold your breath when you're driving over trying to cross the street, not a joke. Working with the governor and members of the congress here, we're going to put hard-working americans like the operating engineers here and how, on the job, to bring back our infrastructure and bring it up to speed good union jobs, not 12 15 18 prevailing wage jobs, wage that Gives you dignity that you can raise a family on that? You can hold your head up.

This is a blue-collar blueprint for how we restore america's pride and the jobs can't these are jobs that can't be outsourced, we're going to put plumbers and pipefitters to work, replacing lead pipes in america, so families and children can drink clean water, 40. 400. 000. Schools i mean this: it's not just our homes, it's across the country, we're going to put line workers and electricians to work, laying thousands of miles of transmission lines and to build a modern infrastructure and energy grid.

We're going to make high-speed internet affordable, available everywhere in america, we're talking about on the way over melissa that how short the number of num access to the internet here, because of the lack of investment we're going to make the largest investment in public transit in american History, we're going to make the most important investment in our rail system since the creation of amtrak 50 years ago. Let me tell you: our competitors aren't hanging around and waiting to see we're going to do. They've been pouring billions of dollars into infrastructure and into this training their people for years now take china, for example. Now i've been clear that china uses unfair coercion practices to get ahead into their competitors, but that's not the whole of the story.

They also invest in themselves. In recent years, china has spent around three times as much on infrastructure as a share of their economy than we have three times. Yeah look at evergreen they're, not slowing down. Yesterday, my u.s trade representative delivered an important speech on our competition with china.

She pointed out that china made a major investment of steel plants beginning about 20 years ago. In the last 20 years, half of american steel companies have been shuttered. We went from 100 u.s steel companies to 51 and employment in american steel industry dropped by 40 percent, of course, stealing one month that america does in an entire year. You can see it in the sector after sector.

Other countries are speeding up and america's falling behind. We've got to reset the pace again. We've got to set a different pace, for example, here in michigan, we need to make sure that american auto workers lead the world electric vehicles. Some of you came to the white house.

When i had the chairman of the board of general motors, chrysler and and uh gm. I mean general motors, chrysler and ford, you know, and what have they decided to do? They decided they're going to lead the world and they're going to build more of the electric vehicles than any other country, but guess what china's not waiting around. They manufacture more than twice as many electric vehicles. As we have over the last decade.

They control more than 75 percent of the battery market and they're poised to invest another 14 billion dollars in charging capacity now in their country. Back in may the chance to tour ford's new state-of-the-art facility in dearborn, where union workers are building the first ever all-electric ford. F-150, i got to drive that sucker, it's quick 0 to 60 in 4.1 seconds and it's a big boy. It's a big! One.

Months later i hosted the three, the big three automakers at the white house, but the ford 150 was joined by the gmc hummer and the deep wagoneer all going electric. All in partnership with the uaw. The whole world knows that the future of the auto industry is electric. We need to make sure america builds that future instead of falling behind, we should build those vehicles and the batteries to get them here in the united states of america.

That's we should build here in the state of michigan. I want those jobs, and now i really mean it. I want those jobs here in michigan, not halfway around the globe. That's what my plan will do.

The infrastructure bill will put in motion the union workers on the job, installing national network, of hundreds of thousands of charging stations along our roads and highways and communities over 500, 000 of them and by the way parenthetically. When you build a charging station, it's like back in the day when my grandpop worked for the mayoral canal company back in the tournament in the 1920. In that area, they went from state to state convincing people that they put allow them to put 20 000 gallons of gasoline under the ground. They didn't want them around, but guess what happened? Everything builds up around them.

You put these charging stations along. How are you going to see a significant economic development go well beyond the charging station and the build plan will boost our manufacturing capacity, investing in new and retooled facilities and employ american workers with good wages and benefits. That includes grants to kickstart new battery and parts productions that part purchasing incentives for families to buy clean union-made vehicles like the ones championed by debbie and dan and the senate, and the house and loans and tax credits to boost clean vehicle manufacturing. Look.

These are the kinds of investments that get america back in the game and give our workers a chance. My plan also makes historic investments in clean energy, including tax credits. Tell people do things like weatherize their homes install solar panels, develop clean energy products, help businesses produce more clean energy. All coal.

This project will save literally hundreds of millions of barrels of oil on a yearly basis, not a joke. These credits, those credits, could cut the cost of installing the rooftop solar. By about 30 percent, helping families cut their utility bills and helping the country cut its emissions. My infrastructure bill will put americans to work and long overdue national environmental cleanups.

I i want a job corps just like roses. I love job corps, but an environmental job corps. Over 160 000 i've seen 1.6 million people. That means good jobs at prevailing wages, capping hundreds of thousands of abandoned oil wells.

You know we have thousands of thousands of abandoned oil wells and gas wells and methane with methane leaks. Well, guess what the miners and the people who dug those wells they'll get paid the same amount of money to cap them. Now it's going to help us meet the moment of the climate crisis and do away with you know it's going to create good jobs, making more economically make us more economy, competitive folks here in michigan, you all know the cost of extreme weather. All i remember the flooding this summer: that's 96., the power out outages and the tornado warnings they're, costing your state billions of dollars nationally last year last year because of extreme weather cost america, 99 billion dollars, 99 billion taxpayers dollars.

I went all over the country. I went out west to the fires. You know more is burned down in the northwest than the entire state of new jersey. That's how much we've lost you see.

What's happened with the droughts that are out there, you see reservoirs that are down 30 40 50 feet. There's worried about the cooling down you're worried about whether you're gon na have what the colorado river's gon na this is a big deal. This is gigantic and we're not to ease up we're not going to ease up in any of this. We have to invest in resilience, resilience you saw texas, their entire power grid went down because they had no resilience the ability to build back and build things stronger.

Why a lot of those fires in the far west? And because guess what safer to have those wires underground not be knocked down by high winds and tornadoes and the light causing fires? Look i haven't, pressed it. I haven't passed admit we haven't passed a major infrastructure bill for decades in this country. It used to be a normal thing to do used to be a bipartisan thing to do if we get this done, we're going to breathe new life into our economy and our workers and we're going to breathe cleaner air economists left right and center agreed early this Year, wall street, not some liberal, think tank wall street and wall street outfit called moody's projected that the investments in these bills could help our economy create an additional 2 million jobs per year. Every year, 2 million per year that's going to be transformative and here's the deal.

The jobs in my plan are people who too often felt left behind and were left behind, left out 90 percent of the jobs in this bill. These bills, my infrastructure plan, don't require a four-year college degree. We need to get this done, but it isn't enough just to invest in our physical infrastructure, we're going to lead the world like we used to. If we're going to do that, we have to also invest in our people, like you do right here in training.

This is this training facility. That's why my second bill the build back better plan, that's what it does take education, for example, when america said everyone is entitled to 12 years of free public education universal a century ago it gave us the best educated best prepared work. First in the world that was one of the reasons why america began to grow so rapidly. It's a big part of why we led the world the bulk of the 20th century, but guess what? If we're going to put together a committee today like they did in 1898, i think it was and we were going to invent a public education system.

There's any chance. We'd say that we thought 12 years was enough in the 21st century just 12 years. I don't think so. Study after study shows that the earlier our children began to learn the school not day care the better for themselves for their families, no matter what the background they come from, no matter what their background.

Recent university studies point out that they're increased by 56 percent the chance when they get all the way through 12 years of school, without getting in trouble. It's a gigantic deal. It doesn't matter whether mom or dad know how to read or write or the home is a home that is challenging, but right now we're lagging behind, while other countries are investing in their children. Today, only about half of three and four year olds in america are enrolled in early childhood education in germany, france, the united kingdom, latvia number.

That number is more than 90 percent 90 of their three and four-year-olds we're falling further and further behind the curve. It's not just through education. According to one study, we rank 33 out of 44 advanced economies when it comes to the percentage of our young people, who have a team folks, we're just quickly going to look at what the market is. Closing at we'll come right back to joe biden and we'll see what updates we get on this infrastructure.

Look at that. We got dow jones up 0.89 s, p, 500 up 1.03, nasdaq, 1.24 and russell 2000. Up 0.48 for the day did have a little bit of a draw down there into the close back to bite a place for themselves in the 21st century economy and also increased pell grants their grants for kids, making families less than 50 grand helping their helping their Folks, helping them get through community college or a historically back colleges in order to be able to get a shot, so they can live, they can eat while they're going to school and we'll invest in historically black college and universities, which are essential asset to help to Support and to make sure that young people of every background and circumstance have a shot at good, paying jobs. Look this bill also invests in our workforce by providing so much needed, breathing room for working families.

After all, how can we compete in the world if millions of american parents, especially moms, can't join the week the workforce because they can't afford the cost of child care elder care and have to stay home? For example, here in michigan, the average two-parent family spends? Ten thousand four hundred dollars on child care costs for just one child. Each year, 30 years ago, the united states ranked six sixth among advanced economies in the share of women in the workforce. You know we are today. 23 22 countries have a higher percentage of the women in the workforce, making competitive wage than the united states, while our competitors are investing in a care economy.

We're standing still, and the fact is millions of american parents are feeling the squeeze having a hard time doing their job earning a paycheck while taking care of their children or aging parents and, at the same time, in this sandwich generation. My buildback better plan is going to change that this cut the cost of child care for most mid-michigan families. By more than half it's going to extend historic middle class tax cut to the child care tax credit which we passed in my american rescue plan. Now most people don't know if you walk to the average informed person doctor lawyer or whatever and said child care, tax credit they're, not sure what that means.

But what it means is, you know if you were making a decent salary and you had two kids or three kids or four under the age of 18, you get to deduct two thousand dollars for each child off your bottom line and your taxes you owe well Guess what, if you're, making 15 bucks an hour, you don't have any taxes to pay like that. So guess what you got: nothing: zero! Zero! No help! My friends in the other team have no problem, giving billionaires and millionaires gigantic tax breaks. This is a tax cut. You know what it does is now and it's in place, and people in your state are understanding it now, instead of it provides that up the ante, how much you could get for a child under seven, you get 3 600 bucks tax cut on a yearly basis And you get 3 000 for a child under 17., but guess what we did.

That means we're doing it on a monthly basis. Now it means you're getting either 300 a month or 200 a month. Just like your social security check at home. It's cut child poverty.

In by 40 percent, that money is already a life changer for so many working families and, as i said, that's actually, i was wrong and michigan is 44 cutting child poverty. We need to keep it going. My plan is going to put americans to work. Constructing the rehabilitating, safe and affordable housing telps the cost of housing, while generating even more jobs.

Most of the major metropolitan areas in america can't afford the housing and it helps to meet the moment on climate change as well. We're setting the course for america to achieve 50 to 52 reduction in greenhouse gas emissions by 2030 for us to read net to reach net zero emissions by 2050. This bill helps us get there in a way that creates good jobs, makes us global leaders of fast growing, clean energy industries like electric vehicles, solar and wind power battery power. The bottom line is this: when we give working families a break, we're not just raising their quality of life, we're putting parents in a position to earn a paycheck, we're also positioning our country to compete in the world.

That's what these bills are all about. If you want proof just come to this training facility, this is where hard-working folks come to learn how to operate road graders and so much more where workers use virtual reality to master operating in a crane. They learn how to deal with drones, to look underneath bridges and so on, where young people in michigan show up and emerge as expert technicians, engineers, heavy equipment operators. They leave here with a shot at something great, a union job with good wages and benefits that allow them to maintain their dignity and their pride.

It's a ticket to the middle class. This is where the economy starts with you, your skills, your dreams and your limitless potential. The only thing we've been missing is the will from washington to finally build an economy around you, an economy that gives you and your family a fighting chance to get ahead, gives our country a fighting chance to compete with the rest of the world. We can't get here thinking small.

We have to think big. Let me be clear: we need to prepare for 10 years down the line. That's what these bills do. Both these bills spend out over 10 years, not in the first year.

So if you take the infrastructure bill, folks, it's described as a 1.2 trillion dollar bill. What that means is that of all those investments of road bridges, high-speed internet water, everything else all of it would be less than one half of one percent of our economy each year and it's all paid for and they don't increase the debt, because they're paid for By asking them very wealthy to begin their pair pay their fair share. As a matter of fact, significant portion of this plan cuts taxes for working people and best of all the cost of these bills in terms of adding to the deficit is zero. Zero zero and i made a commitment when i wrote these when i was running no one making under four hundred thousand dollars, they will see a penny in their taxes.

Go up! That's why in the infrastructure bill, there is no gas tax increase, because people making under 400 would have to pay more. It's simple, you're working here at this facility, your spouse, is a teacher or firefighter. There's no reason why, combined, why millionaires and billionaires in this country should be paying at a lower tax rate than you do hear me again now: a lower tax rate, police officer or teacher, a union crane operator and a nurse they paid a higher tax rate, a Higher tax rate, the significant portion of the major corporations in america and the super wealthy look, it isn't right. Is it right that 55 of the largest corporations in america in this country and i come from the corporate capital of the world, more people, more corporations are incorporated in the state of delaware and all every other state combined.

But you know how much those 55 companies i could go on more than that made over 40 billion dollars and they paid zero zero in federal income tax. Since the pandemic began. The number of billionaires - and i forget the exact number there are in america - have seen their wealth go up collectively by one trillion dollars. One trillion dollars isn't fair.

It needs to change. Look working folks, understand that. That's why, despite the tax, the attacks and misinformation, my plan has overwhelming support of the polling data for the american people. They understand what's at stake.

They understand that workers and families have a better shot. Americans have a better shot, i'm a capitalist. I think you should be able to go out and make a million dollars or a billion, but just pay. Your fair share join the crowd man.

They know that this is about dignity and respect it's about changing the paradigm, so the economy works for you not just for those at the very top. It's about building this economy from the bottom up in the middle out. That's what i've done my entire career! That's! Why i ran for president, as i said, i'm a capitalist. I think you should be able to make a lot of money in america, but just pay your fair share, pay your fair share.

I took this agenda to the country. They said it was time to build an economy that looks out from scranton pennsylvania, where i grew up as a kid. Instead of looking down from wall street, an economy looks out from holland, michigan and towns, like it all over america. That brings people from every race background religion into the game.

That's what notwithstanding some of the signs i saw come. That's why 81 million americans voted for me, the largest number of votes in american history, a clear majority supported when they supported me. Look it's now time to deliver. Let me close with this.

The world's watching, not a joke. The autocrats of the world believe the world is moving so rapidly that democracies can't generate consensus quickly enough to bring the people together to get things done. They think democracy is not not a joke. My meetings with putin, my meetings with xi, jinping and other leaders.

They truly believe that we can't compete in the 21st century because things are moving so fast. Democracies take so much time that they are so divided that they can't get together in time to act. They believe they they, they believe they'll win they'll win the day and they can dictate their way forward and leave us behind they're betting, not a joke. They're betting.

For the first time we won't respond to this inflection point in history. It will fail to rise at the occasion, but you've heard me say it a lot of times. It's never ever been a good bet to get benched to bet against the american people. Never look.

Just look back a little ways after world war ii, the united states did what we're trying to do now invested in the american people to lead the world at the time. Presidents, in congress of both parties and americans of all political views, stepped up - i'm not being sentimental here, because racial discrimination was a fact to life. We know how deep rooted racism is in this country. We saw the clan marching here in hal generations ago and again in recent years.

It's a never-ending battle but think about what else will unfold in this critical, these critical decades great protest movement. Some of the nations was promising of equity. The gi bill sent millions of veterans to college. The federal government helped make home ownership possible because it's the vehicle by which people can generate wealth.

Most of us have come from lower middle class backgrounds. That's how our parents are able to generate any wealth investments in our home, those who could previously only dream of having a house to call their own. We invest in an interstate highway system, propelling our economy into the future. We invested in the space race which led to huge strides in technology.

We invested in something called darpa a program within the federal government that helped create the internet. Folks, we need to step up again, but the challenge today is one of economic competition. Let's learn from that history, not because it was perfect, because americans then did what we must do now - invest in ourselves to show the world that american democracy works. I think even have a chance.

There's nothing not a single thing we can't achieve when we do it together. I know we can do this, i'm positive. We can i've never been more optimistic about this country than my than i am right now we're going to restore faith, pride and dignity, the future of this country we're going to pass both both of these bills to start building this economy, to beat the competition and Deliver for working families! Thank you! May god bless you? May god protect our troops? Let's get this done. Thank you.

So you gon na answer any questions i'll give a summary here: wow, nothing! Okay, all right! Well, uh, okay! Well, i guess we could go through an update in terms of uh uh, what uh what has been said, uh today by joe biden, but also uh yesterday by joe biden uh. Let's see here, uh all right, let's go ahead and give a recap of this and then we'll go ahead and finish up with uh see. Okay, there we go okay, perfect, so uh, let's go ahead and give a quick little recap here of what the heck is going on in the stimulus world of things, uh all right, so joe biden just talked about infrastructure and uh. The stimulus plans that we have ahead of us - oh, but actually joe by uh elizabeth warren's, talking right now hold on.

Let's listen to her, really quickly levels at all-time highs. I'll i'll. Do a recap in just a moment during the crisis and through the stress test, which is they restricted, share, buybacks and and they increased capital requirements for the biggest banks. Actually, you may want to go back and check your facts.

One of the things that senator brown and i, for example, kept hammering on, was to force the banks, for example, to suspend dividends uh. If they were going to get taxpayer support, then the banks ought to have to have more capitalization and the fed chair resisted that repeatedly. Look. This is about safety, the job of the federation right now, i think, to the job for the fed chair are about.

I understand the part to the fed share, though, is to make sure that the american taxpayer is not on the hook again, as they were in 2008 to have to bail out these giant financial institutions. It's not always a popular place to be, but a fed chair needs to demonstrate that they have the courage that they have the backbone to be willing to stand up to powerful financial institutions. Our financial institutions are now bigger than ever and they exercise their muscle with regularity in washington and, i think that's a problem, but buybacks certainly were suspended and capital liquidity levels definitely also our record highs, but senator. So what was what what facts were wrong? There well dividend point yeah, but but anyway we wanted to pivot and talk about your speech today, the other topic and and the trading that we have seen by certain members of the of the federal reserve um in your speech today.

Just again a kind of question of the scale uh of wrongdoing, if indeed wrongdoing is proved that you you spoke about in your speech, about a culture of corruption at the fed, which again is pretty strong terminology. Um have laws been broken. I i am concerned about a culture of corruption when we find out that there have been three different high officials at the federal reserve who have engaged in practices that may be a violation of law, but certainly undermine the public's confidence about whether they are acting to Line their own pockets or, on behalf of the american people, that's a real problem and it's a real problem in leadership. We need a leader who makes it clear.

I mean this actually shouldn't have been an issue who could be at the federal reserve in a position of authority and responsibility and think that it is okay to trade, individual stocks or to move from a bond of portfolio to a stock portfolio. The day before there is a major announcement about possible changes in fed policy. This this is not hard stuff and it shouldn't be even close to the line, and that raises questions about leadership. I've already said that i will not support the renomination of chair powell, but i think this is a second big problem and i know in the past, in the last congress, you introduced the the anti-corruption and public integrity act and your aim was to ban individual stock Ownership across many different public bodies, the white house congress uh the federal reserve - if you've seen any of our debates on this network about that topic in recent weeks.

We understand it because we face tighter restrictions than those public elected officials. I guess again, i just come back to the question. Would you go as far as to say that any single member of congress, many of your colleagues who's ever traded an individual stock in their entire time in congress, is corrupt because you're using those words for a few federal reserve members, but i'm not sure you're going The same level with others that seem to be in the same boat in your eyes, i've been talking about the culture of corruption in washington. For years now, i actually ran for president of the united states, talking about corruption in washington and a significant part of that corruption is when the american public can't know whether or not decisions that an individual who's in power makes or for that individual's own financial gain Or for the good of the country - and i think one way that we deal with that is we just say you know you can do one of two things you can either be a member of congress.

You can be on federal reserve, you can run a big agency, you can be in the cabinet, you can be in a big political and economic and uh decision-making position or you can trade in the stock market, but you don't get to do both. At the same time, wow agree just to the leadership point and obviously you're caught you're calling attention to the right issues. I i don't think chair powell would disagree with you, though, that this looks really bad and that the rules need to be changed. In fact, he has taken this issue very seriously.

He hasn't shied away from it or diminished it and just to play devil's advocate to you. You know he's called for an independent ig investigation is also doing a federal reserve investigation to change the rules and has not backed any of his colleagues, florida, rosengren or kaplan for what they've done it seems to be seems to be leaving on this issue. Actually, this has been dragging on now for a while, and we have found out more about what's gone wrong with this latest fed report. I believe that this should have stopped a long long time ago.

Look what does it mean? Were you calling for the federal reserve to not be able to trade members members of the fed to not be able? I know you've been banging the drum on this for congress, but have you just yes go back and read my plans from when i ran for president? It was that nobody gets to be in a decision-making position in washington and still trade in individual stocks. It's just no, we should not be able to do that and frankly, i can't believe anybody would defend that and i can't believe anybody in that position, particularly at the fed, think about the information that the fed has they make. No, i think, they're going to change the rules because they get a lot of insider it a lot of insider information. It should be clear to everyone who is there that they cannot be trading individually and participating being in a public, a position of public trust.

You just can't do both of those. At the same time, senator warren also wanted to quickly ask you um about facebook as well. I know you were making your speech earlier during part of the the hearing with the whistleblower. My main question on this uh is the extent to which lawmakers need to take responsibility.

We know that facebook does as well, but some of the revelations are new. Some of them aren't and and we've had a lot of warnings and information about the potential damage that social media can do to society since 2015. 2016. Why haven't lawmakers acted yet, but part of the problem we have is not just that facebook is huge and powerful and stomps out its competition and controls a large part of information flows in the united states, but also that they have great political influence.

Their voice is heard louder around these halls than that of most americans go all the way back to teddy roosevelt when he talked about breaking up giant corporations. Do you know the principal reason that he used to cite it was because of their political power because they kept washington from doing the things that needed to be done in order to make sure that markets are fair and transparent and work, not just for the giant Monopolist at the top, but that work for everyone meantime senator warren urgent issue. You guys need to lift the debt limit to prevent our nation from defaulting and and as treasury secretary yellen warned of an of another recession. Today, there are there's some reporting that senate democrats are looking at a bill, that a carve out to suspend or lift the debt limit.

Is that something you'd be in favor of go around the filibuster this the senate republicans said they would do nothing to help raise the debt limit. Notwithstanding the fact that much of this debt was incurred on a bipartisan basis, often while donald trump was president, they said they would just rather see the economy thrown over a cliff. They said it's going to have to be on the democrats in order to raise the debt limit you're going to do it all by yourself without a single republican vote. The democrats have said: okay, fine, we will be the adults in the room.

We will raise the debt limit, but we need the republicans to get out of the way and let it happen they can't filibuster us at the same time and say: democrats have to raise the debt limit, but it'll take 10 republican votes to make that happen. Just get out of the way and the democrats will raise the debt limit. That's my message to mitch mcconnell and every republican and finally, before that, to go senator warren uh.