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now. >> it's clear appeasing china has failed. we should focus on maybe less photo-opts and less smiling to the camera. >> all of the idea that it's good idea for governments to spend more money is terrible economics. >> they made lone sharking legal because the credit card companies are charging north of 25% interest. i've seen apocalyptic buying. stuart: mommas and poppas. >> the mommas and poppas. definitely. stuart: we remember them. the youngsters in the control

room, they don't know -- look at the markets, we've come back a lot. the dow is now actually positive. it had been 80 or 90 earlier. improvement on the market there. big tech, let me spell it out. mega platforms. apple, amazon all down. not much but down. here is the treasure. the ten-year treasury yield keeps going up again. 4.66 as of right now. now this. looks what happens when you tax the reach, they leave. 72 billionaires, now it has 62 down 4, sorry down 10 in four years. for the owner of the washington commander florida looked

attractive. he left and took fortune with him. hedge fund guy, daniel oak, he escaped with 3.6 billion and more on that list too. you see, florida has no state income tax or state estate tax. in new york city there are city, state and federal income taxes and an estate tax on top of that. why stay if you can move? especially when local politicians like aoc are all in favor of taxing the rich some more. new york searchy can't afford to see that money walk out the door. 42% of all tax revenue in the city comes from 1% of the population, exiting billionaires will really hurt. this is all part of the decline of american cities run by democrats, one day, maybe voters will start towns you don't tax your way to prosperity. third hour of varney start now.

♪ ♪ ♪ stuart: steve forbes joins me this monday morning. when will democrats learn that policy to tax the rich are actually ruining our big cities? steve: when we get a new breed of democrats. the democrat party is run by the far left. they don't care about revenue. they want control. they don't like seeing people doing well especially people they don't control. so you can show, low tax breaks, brings in more revenue. they don't care. stuart: they can't do it. no democrat administration whether new york or new york city, you can't do that, you can't revert policies of generations because you've not been working, you can't change. >> even in some of the cities you will see voters say, hey, we have to change. in jersey city, got to bad a few years ago, they elected republican in early 1990's, joke was even the dead voted

republican. when things get bad enough, when things get bad enough, change comes even if you have new people doing it. stuart: did it republican jersey city? steve: yes, first mayor -- burrow of new york. stuart: they can't do that in new york city? they can't do it, can they? they are running into a serious financial problem here because tax revenues are way down. the billionaires are leaving. people are not riding the subway, retail sales are down in the city, economic activity is just not strong. steve: we may have repeat of 1970's, was taken over by financial board. that circumstance can dictate change. we don't have the money, washington is not going to bail

you out with the republicans controlling the house, guess what, change will come whether they like it or not. stuart: as trump said what do you have to lose, what do you have to lose? [laughter] stuart: i have a headline. path to green energy is getting messier. the path to green energy is getting messier. i would agree with that because there seems green policies are failing the, wind policy and electric vehicles not doing well. steve: in energy they had to abandon offshore debacle. billions of dollars lost. $6 trillion on alternative energy, 86% of the energy came from fossil fuels 20 years ago, 83% today. $6 trillion of waste. ford motors losing $60,000 for each electric vehicle itself and the demand for energy will grow exponentially. already the cloud uses more energy, twice as much energy as the entire nation of japan.

the third largest economy in the world and the appetite is going to grow as the countries eventually grow. they will want more automobiles and guess what there's a clean fuel round, it's called natural gas. [laughter] stuart: but the president, you know, he's going to have a meeting with xi jinping on wednesday and he wants to be the green president. i have a u horrible fear he will make con decisions to china in return to fake promises on action of climate. that's a real danger. steve: you've already seen it. meanwhile they are opening up new coal fire power plants almost each and every day. other countries will not impoverish themselves to satisfy joe biden. you is that what happened in

germany, they did what biden wants to do several years ago, energy two or three times costly, look what's happened to britain, their economy is in shambles, no small part because of the green energy policies that end up enriching the politically connected and don't do anything for the environment. stuart: you got it. let's look at the market. we have been open for an hurry and 37 minutes. we are down but not that much. nasdaq down 34, s&p down 8. the movement on the yield treasury, ten-year treasury has gone up. put stocks down but not badly. no big selloff after a couple of weeks after pretty good market performance. moodies changed the the u.s. credit outlook to negative. i think this is because we can't stop spending, we can't it under control, what say you? steve: just look at the numbers,

they speak under themselves. even under the republican administration spending went up rather sharply. it's going to have to go up interest more. we have more interest bills coming and big defense bills coming. guess what, they will have to make spending cuts and the it's easy if they have the will. take all of joe biden's green energy foleys, save a trillion dollars. stuart: they are not going to do that. steve: that's why we have elections. it's only a year away. have hope. stuart: maybe i'm too pessimistic. steve, thank you very much. steve: thank you. stuart: all right, ashley is back looking at some of the movers and i want to see what is going on with boeing. >> almost 5% on the news of china ending freeze of buying boeing plane and that could come up in the meeting between biden and xi jinping this week. we hear that emirates has placed an order for 95 boeing planes,

all of that helping the stock up more than $9. mean while retailer macy's could be stuck with excess inventory ahead of the holiday season and may be forced offer bargains. and ev maker rivian moving up this morning. they just received green light for new plant in georgia. the facility, we understand, is going to span some 2,000 acres in northern georgia, also serves a production and research hub company, the stock up more than 5%. stu. >> i will take it. flying cars can soon be a reality. samsung sky rich blade had first successful flight. i wonder what kind of license and how much it would cost for a successful flight. we will show it to you. private college in new york marketing themselves as a safe

haven for jewish students. they are seeing surge in applications. we will bring you live report from yoshiba university. biden-trump matchup may change that. rfk jr. is polling at 22% in three-way race with joe biden and trump. joe concha breaks third-party threat right after this. ♪ ♪ ♪

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stuart: why not, a little elvis on a monday morning to get you going. little less. a little less cumbersome. it's in michigan, chilly 48-degrees, looks chilly, doesn't it? president biden switching to campaign mode as concerns over age and leadership continue to grow. mark meredith live at the white house. what is biden's plan. mark: stu, good morning to you. he's holding fundraisers and hiring campaign staff but you're right, still a lot of questions about the viability of the president's reelection campaign and it's just not the pundits that are talking about it. we see columnist in the washington post mentioning that. still the president has time on his side, we are a little under away and shift to domestic matters but winning over donors and fellow democrats may be the most pressing challenge in the

moment. washington post summing it up this morning writing, quote, biden is essentially asking democrats to push him forward even though he no longer gives party clear electoral advantage and might be electoral liability. some of the recent polling come out has shown president biden losing in hypothetical matchup to former president trump but biden just last week said he doesn't believe those polls, he thinks he's doing a lot better looking at other numbers and over the weekend some democrats echoed his claims. >> i don't think these polls necessarily predict what the election a year from now is going to be and i actually think when voters turn out to the polls that's the sign of how strong the democratic brand and president biden's brand is today. mark: but there's another factor in all of this, what about the third-party presidential candidate, you have robert f. kennedy, jr., double digit in polling. you have the green party preparing a run of its and possibility we may see somebody else jump into this race,

remember, senator manchin announced retirement from the senate. stu, there's a lot of factors out there and tough to say whether or not it's one or the other democrat versus republican next year. stuart: you got it. mark meredith, thank you very much. third parties always lost before but a biden-trump matchup may change that. joe concha wrote the piece and there's the poll, joe, rfk, jr. got 22% in three-way race with biden and trump. could he really mess up the next year's election. joe: absolutely. we saw what happened with ross perot in 1992, he got 19% of the vote as independent. bill clinton ended up winning the election which is 43% of the vote. you see the polls out there from gallup, for example, two-thirds of voters say there's a need for a third party and you throw the fact that a majority of democrats don't want joe biden

to run again and polling lower than jimmy cart, the last-turned democratic president and third-party candidates they have become more than just an afterthought. jill stein, possible mitt romney or larry hogan and joe manchin with no labels. so it's just a matter of simple math. more candidates coming from the left means splitting up the voting pie from the left and that clear it is path for donald trump who is leading joe biden in a head to head matchup anyway. stuart: can rfk? >> ron desantis, nikki haley, scott. stuart: one of my favorite

subjects, soccer player megan was injured in matchup, listen to what she said afterwards, roll it. joe: roll it. >> i'm not a religious person and if there is a god this is proof that there isn't, so, yeah, it just -- it's just -- six minutes in. stuart: that was a retirement speech i understand. her injury proves there is no god. what's your appropriate response to that, joe? joe: class, that's all class right there. that's the michael jordan of our time on the female side. she might be megan -- she might be the most disliked athlete rapino athlete in the country. certainly the most self-absorbed and she had great career, thanked her coaches and staff shish advocates why her undeserved injury shows that there is no god and quite

frankly, stu, i would be shocked if she doesn't get signed nbc show or throws into the view rotation because she certainly fit it is brand being offered at those places that's for sure. she even offered to be joe biden's a few years ago, she's a political figures and says things that make you shake your head and yearn where we didn't have athletes that turned people off like she does. stuart: let's turn to something i did find funny. saturday night live marked the gop presidential debate. watch this. >> can you believe folks, 91 indictments, 4 trials and i'm still the best choice. isn't it sad, folks, none of them can beat joe biden, the worst president since frankly me. joe biden he's so old, the mentales are clearly in decline. stuart: joe, apart from the politics there, i thought it was funny. joe: i think that's a good trump imitation certainly better than

the one alan baldwic served up. up until trump appeared on stage it was the impossible to distinguish the actual debate from the parity. if you're keeping score at home now, last real debate was held at nbc and the parity also on nbc. that trump part was accurate. it's so hard to see how anyone in the field catches him at this point. probably why tim scott bowed over the weekend because he sees something that we have been talking about for months. in path forward for republican. stuart: i'm going to throw you a curve, of all the stories that we have covered today, what's your favorite, you have 30 seconds? >> my favorite story of the day, honestly is probably what we just talked about. [laughter] joe: as far as megan rapino and the fact that she couldn't put out a nice simple statement and that was that, always about her. not my favorite but my most i

don't know viewed. we will put it that way in terms of what people are talking about. stuart: 25 seconds, excellent work, joe concha, come back soon. see you later. democrat strategy that will be david axelrod, he's the one that said biden should drop and now backdropped. what did he say? >> he's not concerned about the numbers for president biden because the 2024 election, oh, it's just a year ago. here is what he told cnn state of the union, watch. >> i have no concerns about polls a year out. i mean, you have to look at them the and analyze them and adjust but i was in a situation as a strategist for barack obama in 2011 where we were facing difficult polls. the one number in the polling that was concerning and the cnn poll that followed after the new york times poll had to do with

age and that's one thing you can't reverse. ashley: no, you can't, not right now. recent polls have shown biden trailing former president trump in hypothetical rematch in 5 of 6 key battleground states. axelrod clarified i'm not calling for joe biden to step aside only stressing that he ought to think about it. by the way, according to columnist of politico, joe biden refers to axelrod in private as pr dash, dash, k, i will let you fill in the blank and it's not today's trivia question. stuart: we will get there. all right, let's go through all the markets because we have some action here. dow has turned around, is now up 19 points, boeing is a dow stock and that's got a lot to do with dow turnaround and boeing is up 4%, 4.3%, that helps the dow obviously and the dow winners

are headed by boeing up 4%. chevron, verizon, disney is on the list, up 50 cents at 88. 500 winners henry shine and we have davita, don't know him. i will move on. let's look at nasdaq composite winners, any big tech, probably not except tesla. big tech stock, i guess, up 8 bucks, solid gain for tesla today. how about the ten-year treasury yield, now started to come down a bit. that may account for some of the turnaround on wall street. we've been up to 4.60, 4.69, now we are down at 4.64. gold at 3-week low, way below 2,000 bucks. 1946. bitcoin holding many -- much of recent gain. 36.9 is the quote and oil 76, 77, $78 a barrel. still ahead kevin oleary says

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human way to healthcare. stuart: it is time for this day in history. american built on this day 1927. the holland tunnel opened in new york city. first ventilated tunnel ever. don't forget to watch american built, fox business prime. jewish students and faculty want to leave colleges they say are not doing enough to address anti-semitism, gerri willis at yeshiva university. gerri, yeshiva wants to be safe haven for students. it's bringing a lot of applicants? >> you bet, stu, he told me applications are up 65% for the coming quarter. half of those are transfer applications. now this small jewish orthodox

university is already wait list. they have more students than they can take but berman says they are committed to adding the students. >> it's not just active cases of harassment and hate and violence that we are seeing and being reported, it's what's not being reported. it's what's happening in the general environment where jewish students are hiding who they are for fear of the repercussions. >> burman is also organizing, spearheading colleges and universities that are standing behind these students and opposing the hamas atrocities and trying to keep the young students safe. this organization includes diverse group of universities protestant, catholic, black, you can see some of the names here

on the full screen, they include notre dame, southern methodist, st. francis college. tomorrow 2500yeshiva student and alumni will be in washington, d.c. to participate in protest rally, rally on behalf of israel. they are looking forward to that here, i can tell you. i've talked to some of these people. for burman the scenario is intensely personal. he was in jerusalem on the day of attack and son member of the idf, stu. stuart: thank you very much, indeed. mit walked back their threat to suspend any student who participated in antiisrael protest thes. ashley, why did they walk it back? ashley: because mit is worried that the student thes in question could be deported. to palestinian demonstration by

a group called apartheid was held in the lobby of school's main entrance and violated school policy and jewish students for protest, many palestinian students refused to leave and faced suspension and backtracked from mit and only suspending from nonacademic campus activities, the semi suspension has angered jewish students who say they simply do not feel safe in the mit campus and by the way adds weight to argument that many of the students leading the the antiisrael protests across the country are not u.s. citizens. stuart: good point to make i'd say. thanks very much. adam shapiro is a cornell graduate and founder of the start-up nation mentorship and adam joins me now in new york city. is this group designed to introduce nonjews to jewish life, jewish religion and jewish

culture, is that what you're trying to do? adam: stuart, good morning, thank you very much for having me on the program. start-up is about building and building bridges, bringing geopolitical divides that result in division and hatred that we are seeing across cleaning campuses around the world and really what the message was is how do we get the leaders of tomorrow who are not jewish from all ethnic socioeconomic, religious backgrounds to learn about israel through career mentorship and business through 25 campuses. stuart: hold on a second. 25 campuses and you have organized group where you bring together businesses and nonjewish students to get together for career orientation, is that it? >> so we essentially pair up leaders of tomorrow, successful nonjewish students with a personal israeli executive mentor from leading businesses, tech companies and they teach them through israel through a career path that's relevant to

them. stuart: so jewish business people are going to catch really good candidates for their the employment, aren't they? >> what i'd say, look -- stuart: it's a very good tool for bringing talented people to your business. >> i'd say we are a nonprofit and i think when you approach a student who wants to work at a leading tech company and tell them that apple's second largest camp is globally is in israel and nvidia which is power the ai revolution in large part due to acquisition of israeli company and google in ways have many stories and they close to 50-story office building, people don't really understand the true tech miracle and business miracle of israel and we try to introduce that to college students. stuart: real fast, can you reverse the boycott divestment sanctions, bds move, can you get

rid of it? >> when i was in cornell university in the spring of 2019 we had a large bds campaign come to campus and we defeated it on the student assembly by one vote. now the majority of the student assembly never been to israel, not jewish, not a personal connectivity to israel but what we did is connected them with israeli executives to teach many members about israel as opposed to screaming and yelling 19-year-olds who don't know about israel telling them that israel isn't apartheid state. i think the solution is more of an education and less screaming. stuart: i'm with you on that one. adam shapiro, thank you very much for joining us. >> thank you, stuart. stuart: tesla highly anticipated cyber truck set to begin deliver atat the end of this month but f you want to resale it will cost you 50,000, and we will tell you why. hillary vaughn has the full story of our troubled finances,

next. ♪ ♪ ♪

stuart: moodies lowered u.s. credit outlook from negative to stable. that's a downgrade. hillary vaughn, what is the administration saying about this, hillary. >> stuart, the white house says they disagree with moodies decision to lower stable debt to negative. the deputy secretary says maintains triple a rating we disagree to shift to negligent i have outlook. the economy remains strong and securities are preeminent safe and liquid asset. moodies is the last of 3 major credit agencies to keep triple a

rating on the u.s. debt, the concern is that this negative outlook is forecasting what is to come while some analysts are brushing off the move, other says say this time it's different. >> the problem and kind of the fever that you see is a symptom of this is what's going on in the treasury curve and the moodies downgrade spoke to that a little bit in that we got historically high debt and we have been saying that are if 20 years but the truth is we are now at over 100% debt to gdp. reporter: debt crisis as shutdown is looming this week. speaker mike johnson pushing for extension that would keep funding through holidays giving congress time to pass 12 appropriation bills in regular order but so far there is no deal and the deadline is friday, stuart. stuart: thank you, hillary.

kevin o'leary is here, ladies and gentlemen. i'm proud to announce he's sitting next to me. what is the negative rating? >> not at all. the cost of borrowing just went up a little bit more. that's what the rating agencies do. they basically tell the whole world who are bond buyers of our debt, no matter what the duration is, it's just a little bit -- excuse my french, a little bit crappier. stuart: yes, will rates continue to go up? >> i think so. now this is a big bet everybody is trying to decide on. trying to divine which way the fed is going to go. i think personally where we are going is another 50 basis points early next year, in 20, 25 increments. i'm speculating, of course, for me terminal rate is 6%. we've had many good economies at 6% but tells me to keep -- i just made a big allocation to a

shorter duration single corporate and above 5.25 last week since we last talked and i kept half of it liquid and short duration above 5% zelenskyy. i'm trying to hedge my bets, stewart. i don't know. i'm not convinced the fed is finished raising rates. stuart: no risk. >> that's the easy way to do it. i like to make it complicated. [laughter] stuart: let me get to this because this is the about sophistication. you say people are wasting up 20% of money buying stupid stuff your word, stupid stuff? >> like stuff you don't wear, you don't need, you don't use. i have done this countless times with millennials. i teach a lot of cohorts, recently harvard, i've done mit, temple, notre dame. i see, everybody, two of you, let's go into your dorm -- to your home and let's look at the stuff that you've got sitting

there. let's just do that. i can identify 20 to 30% crap like ten pairs of sneakers and 14 jeans and 60 t-shirts and 40 hats. why, why do you buy that crap? you don't need it. stuart: americans are geared toward consumption. >> why do you go on 25% interest on something that you wore once. it's usually in these areas, either they are eating out too much, buying coffee for $5 and mostly around clothing and sometimes experiences that they buy that aren't worth paying that much for. stuart: every day i bring in my own breakfast. i think i save 50,000 bucks over my 50 years in television. [laughter] >> the problem, stuart, you can afford breakfast but you forgot that. stuart: okay, change the subject. let's talk crypto. the news around blackrock, bitcoin etf, let's raise prices and we have analysts calling

this is the nuclear winter for anybody who doubted bitcoin and ethereum. >> not just those two, salana, fringe cryptos have had moves in the last week. finally licensing bitcoin etf which i'm not optimistic it will happen overnight. the crypto cowboy, those days are over, we have the pending announcement, rumored and rumor but very close, in the next ten days they will announce m2 in abu dabi largest exchange ever that's regulated with billions backing it and tie today huge financial institutions so that finally unfortunately no american can register on there but really what they are going after is binance will lose half of its account to new m2. you can go off something that the sec is suing and going to compliant exchange that's backed

by billions of dollars and huge financial institutions. stuart: huge plus for cryptos. >> i'm on my way -- after i leave here i'm going to shoot watch stuff and i'm going to abu dabi, i so much want to be an investor in that exchange. that is going to be the exchange worldwide. stuart: not bad, kevin, not bad. i think you persuaded me. >> i'm disclosing the truth. stuart: you're a fine mine. stay there, more for you coming up. look at this. i think we have the video, a car, they call it the luxury car going airborne, the samsung sky switchblade, had a successful flight, the designer of the vehicle will tell the us when we can get the hands on one if we want won. -- one. that's next. ♪ ♪ ♪

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stuart: the first tesla cyber truck delivered set for november the 30th but if you're looking to the buy the car and resell it, it's not that easy. according to the car's order

term thes anyone who buys the truck must get permission from tesla if they want to resale it for the first year, if you do resale without permission you can be charged $50,000. any comment of tesla of any kind, kevin? >> brilliant marketing. the other company that does this and enhances this brand so much, ferrari. if you get allocated the car and flip it, el nort the e, you can never buy another one and banned et cetera, et cetera. brilliant move, it makes it coveted that you get one. i think it's a great idea. stuart: very smart. thank you, kevin. look at what we have here. i think we are going to show this. now that is a flying car. first off, what's the price? >> good morning. stuart: good morning, and what's the price?

>> starts at 170,000, goes to 195. more equipment in it and there's middle version which is the special edition which will come out. special editions but ours start at 3:30 and you really want something special. stuart: i've got more questions. who was the first test pilot, was it you? >> i wish. i am a pilot but the test pilot that flew it is experienced rob kneely. stuart: do you need special license for this car? >> you do need a private pilot license to fly it but you can buy the thing, drive it as you wish and use it for flight training. it'll safe half the price. stuart: what does it require for takeoff and landing, full-scale airport? >> yeah, we designed this thing to be used now.

the future with all the vertical takeoffs. we have 5,000 airports in the u.s. we can utilize airports infrastructure and be ready now. stuart: when can we get delivery? if i really wanted to one, when can i get delivery and fly? >> we start productions about two years as elon musk says getting in production is the nut to crack. stuart: where is the money coming from? >> for our investment, you mean? stuart: no, it takes some money to put this thing together, where did that money come from? >> sure, we had -- an interesting path there but the short version is we started, my wife and i first bit went to friends and family and then we had to find our way through. it ended up being debt financing in early stages when the economy

was going crazy, ups and downs and lately now is equity finance. stuart: last one, does it have a parachute and that's not a joke, i'm serious? >> no. a lot of people are. we are proud that we put in an auction for a full vehicle parachute for the vehicle so that you could use that in case you really need to. stuart: parachute is optional. that's very interesting. sam, that's remarkable stuff, come back and see us soon. i want to see you fly this thing. that simple. >> you bet. i do too. stuart: you got it. all right, thanks so much. time for the monday trivia question, when was army day renamed veterans day? kevin thinks he knows the answer. i will give you my version when we come back. ♪ ♪ ♪ ameritrade is now part of schwab.

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i'm going to sell my life insurance cuz i don't need it anymore. my kids are grown, my wife is great, let's settle up the score. it's time to travel to paree, spend retirement happy. call 877-sell-easy. 877-sell-easy. 877-sell-easy, and sell your policy. you can sell all or part, live your life and play it smart. 877-sell-easy, and sell

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>> a bit ago 1957 just to be different. 1954. >> wrong. again i have to litigate. >> armistice day celebrated in world war i president eisenhower signed the bill to change it on all veterans. in england november the 11th is still armistice day in a ceremony in central london on november the 11th, et cetera. the king and the queen goes in world war i. >> i learned something today and very proud. >> you learn a lot on the show really, really really do we have ten seconds left of the show this is how i ended, that is it regrettably for "varney & company" but "coast to coast" an excellent program starts now. >> thank you for the plug, i appreciate t