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tv   Varney Company  FOX Business  November 17, 2023 10:00am-11:00am EST

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stuart: i love tom petty, freefalling. looks good in new york city. get down to street level. good morning, everyone. 10:00 eastern. plenty of red but not that much, dow is down 7, nasdaq down 22 points, not much movement, the 10 year treasury yield coming in, 4. 46%. the price of oil moving to 76, 7437 and bitcoin, 36 and change. the markets, friday morning. this is what the migrant crisis has done to new york city, drastic cuts in basic services. the police department will not be hiring any new officers, one
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hundred $32 million will be cut from the budget. the force will be cut 29,500, the lowest number in 40 years. $74 million cut from the firefighters budget. the education budget will be cut by one billion dollars. they will be cut from the summer school program and universal pre-k. libraries will be closed on sundays. all this pain because the city is showing up $12 billion over the next two years taking care of migrants. so progressives blame eric adams. why aren't they blaming biden and the open border. he too stays silent on the open border. this is going to happen in other democrat run cities. chicago will spend one hundred $60 million to keep warm this winter, locals want that money for their own schools and services which are sadly lacking. los angeles receives between one thousand, and 16,000 migrants a week. there is no relief in sight. biden will not close the
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border. he will speed up the processing. in the year before the election, a million or so will be on our streets. there's got to be some serious pushback at the ballot box. people open the border, biden and the aocs of this world must be voted out. the worst the crisis, the greater the urgency. one last point. donald trump visits the border, he will remind everyone, the migrant flood flowed to a trickle and new york back then was flying high. second hour of varney just getting started. brian brenberg is with us this friday morning. you live here in new york city. the obvious question, would the city be like this if trump was still president? brian: it would not be because
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we wouldn't have the migrant crisis, wouldn't have the budget crisis, would have more resources, easier to send your kid to the subway. i can't dissociate myself from this because i raise a family in the city. i have kids are vulnerable and move around the city and even this morning, there's enough going on in the streets to say how do i feel about my kid getting on a subway and going to school? don't feel great about it and i feel worse, that is exactly what is happening under this mayor who will not say a word to the biden administration about failure on the border. stuart: he wants money. he doesn't say close the border. brian: he wants a bigger government, and it infuriates someone trying to make it in the city. stuart: you used to be an educator, still are educating me by the way. you take $1 billion out of the education budget in new york city which is having a great deal of trouble where already
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an extra 8000 students are being educated. the schools are feeling bad already. they will get worse. brian: more money won't fixed these schools, taking one billion dollars out isn't going to help. all the money in this city is misallocated. it out to be going to parents, so they could have school choice. every service people depend on, it was a failure at the top. it rolls right through them mayor's office. stuart: jen z workers will outnumber baby boomers next year. do you see kind of a cultural shift here? brian: i do. they don't want to come to the office, in a way -- okay, i know.
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i am -- we have a lot of hard workers but let's be honest and look at the data. what i do say is if you can buck that trend. it's going to be easy, this is your opportunity to show great work. the best thing jen z could do, the workplace, they could do that, covid destroyed their ability to learn a basic moment being in an office environment, that worries me and don't know how they will catch up unless some of these companies get back in the office and retrain what it means to be a professional. stuart: i don't think you will never see the day again everyone works 9-to-5 in the office. brian: doesn't have to be that but it has to be closer than we have now. stuart: another one for you. latest fox poll showed voters trust republicans more than democrats to handle the key issues, inflation, crime, border security. democrats lead on abortion. brian: about the x factor. that she seems to add up to all these other ones when it comes to the ballot box.
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if you put a personality on the ticket who represents these issues, change for the better, that's what donald trump looks like to a lot of people. go write down a list and think of those issues when he was in office the answer is no. he embodies it. when somebody embodies the issues people care about, it changes the way they vote. stuart: as biden fails in various areas trump moves up in the polls especially when you try to shut the man up with court cases like new york city and georgia. brian: you can't beat him on the issues you beat him some other way, got to go to the issues and the problem for biden's when you go to the issues trump wins. stuart: thank you, stay there. jonathan honu get with us this friday morning. looking at the market, minor-league selloff. the last 2 or 3 weeks we had a nice rally, does the rally have legs to extend to the end of the year.
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>> what is the rally? it has been as you know the magnificent 7 stocks, apple, tesla, microsoft up 71% year to date so they are moving the whole market forward. if you strip out the magnificent 7 the market is up by 2%, 3%, 4%. . on a lot of stocks but the magnificent 7 are all news stories that account for 30% of the s&p 500 so even if you own an index fund you only 7 stocks, that is why as usual i'm looking off the radar screen, some ideas that can work even if the magnuson 7 do not. stuart: you brought a friday morning exotic pick for us to, won't say what it is, next emerging and frontier market etf, that would be -- >> does a, apple, not exotic. kuwait, thailand and mexico and
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there's a valuation argument, emerging markets are dirt cheap, the cheapest they've been since 1971. take the p/e ratio, markets trading a p/e ratio of 9, nasdaq set a p/e ratio 23, twice as expensive, nvidia is a p/e ratio of 100. a lot of the ones we've mentioned on the air like pakistan, up 10% to 20% this year, efm and, it's going to take you on a rocky ride but if you want stocks that are dirt cheap poised for growth, this is the way to do it. stuart: one quick point. don't you have a currency problem with an overseas market? >> a currency problem if it goes up but if the dollar goes down like it did between 2001-2010 you might not remember that but the s&p 500 was dead money for that decade. gold and foreign stock outperformed.
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currency has an impact on stocks, the dollar goes down. all these emerging markets outperformed. stuart: got it. thanks, you have a great thanksgiving, see you again soon. lauren is looking at the movers. i want to go with ross stores, huge again. lauren: almost 9%. they lifted their annual profit forecast even after the ceo said some things weren't very positive like persistent inflation and you political uncertainty. keeping it cautious. the point is that this is off-price and discounts and value are very popular. brands are seeking out retailers because that is where they know the traffic will be. it is better to sell their than in a department store. stuart: don't purchase knock off bags, they don't sell them that way. stuart: now you know where you can get them. stuart: $1 billion worth in a single warehouse. charge port.
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>> down huge on huge volume, lost their top two executives, the ceo and cfo and forecasting weaker sales, orders are being delayed because of economic uncertainty. and they are not on the path. stuart: they are charging for electric vehicles, that's what they do. lauren: they are installed by big company and is expensive. stuart: not many people want electric vehicles these days. ic on the screen manchester united. prevailing stock for sale for a gear. lauren: sky news a reporting the glazer family is finalizing that, you get 25% stake for $33 a share, 79%. stuart: got it. walmart's chief executive says the price of any giftgiving product should drop in time for the holidays. that is interesting. we will tell you which items.
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videos praising 9/11 quickly spread across tiktok viewed by millions of young americans. steve hilton is no fan of youngsters on social media. we believe at that later on the show. simply for israel falling among young voters. why support dwindling with youngsters, people of color. russell fry on that next. ♪ ♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™.
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can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network. stuart: 45 and is worth of business come hardly any price change, dow someone, s&p down one, nasdaq down 28. israeli forces push into gaza,
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they recovered 1 how last tunl. entrance under the hospital complex. alex hogan is in northern israel to take us through the latest. >> reporter: israeli fighter jets responding to hezbollah fire and you can vaguely see some of the smoke on the horizon, it's getting dark here but we heard the sound artillery throughout the day and we traveled to the southern or northern coastal city of haifa where israel has struck multiple times creating a lot of concern, 30 miles past the border. >> reporter: with patrol boats watching the north and south buy cds missile and associates can be deployed within minutes to strike back. the navy took us on board saying it took control of the harbor and gaza. >> this is one of the navy's missile ships currently being used in gaza. it is here to refuel and then
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we'll head back to the battle. ground forces are sending coordinates to the navy so ships like this can take on those targets. >> reporter: in the south, the idf is taking out those targets like these observation posts in gaza. they are filling the nasser hospital after is in it - an israeli strike, gaza officials claim it was a residential area in southern israel. it is worth noting we've heard from israeli defense officials saying the focus has been on the north in northern gaza it could spill into the south, hamas command post, infrastructure and hamas militants to the south but that is where we have seen a large portion of the palestinian civilians fleeing and going to live in shelters. what's taking place here tonight in israel, thousands of people marching from tel aviv to jerusalem, families of the
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hostages putting more pressure on the government to bring those hostages home. it has been a very grim 24 hours after the idf did find one of those hostages. it was the body of a 60-year-old who had cancer, someone who was kidnapped on october 7th. 7. stuart: thank you very much indeed. a new poll shows sympathy for israel among young people is plunging, down to only 54% actually support israel, 24% support palestine. that support for israel is going down. congress and russell fry is with me. why is support for israel down among youngsters and among people of color? >> reporter: one of the biggest drivers of this is tiktok and what's going on on tiktok, sharing usama bin laden's letter leica gospel is important but 2 and most critically is the state of our colleges and universities where if you believe in the palestinian cause you are allowed to speak, even allowed to bully people who have a
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different type of view, just this week we had a resolution to defund colleges who support the palestinian cause who don't allow free speech on their campuses and 55 democrats voted against that. there's a big divide among the democrat party on how to deal with the more eccentric characters of their conference and look no further than the colleges and universities which are on the forefront of the battle ground for the hearts and minds of the american people. stuart: what amazed me is some people appearing on tiktok in favor of osama's letter saying it was dead right. if you read that letter he's talking about taking women out of any form of education, can never get out of the house or meet strangers, got to wear a burqa, how come the left can possibly think that is good? >> it is selective, selectively paying attention to things they want to pay attention to.
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you look at this in college campuses you got these professors that constantly put this up. it's not a surprise. we have to be very aggressive about this which if we believe in free speech, free speech is more than a suggestion written down in the constitution, we need to make sure the kids on these campuses that want to speak out, want to have their own rally, that they are able to do so. just this week we had 200, 300,000 people supporting israel on the national mall. you didn't see them blockading buildings are shutting down freeways, they did it peacefully, did it the right way but the democrats and the left take a very different approach when they want to speak to the american people. a when we got the latest fox paul showing republican primary voters overwhelmingly support trump in 2,024. he took a 4 dal over president biden as well. looks like trump is going to win. what you say to that? >> without question, nothing has changed in the year people
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announced their candidacy for president. the only thing that changes support for donald trump has continued to grow. he is up 60% in some polls. the next closest person is maybe 8. i think the primary is over and it is time for us to focus on president biden in the democrats, consolidate around the consensus pick and let's get the job done. we don't need to continue a primary in name only. donald trump will be the nominee and we look forward to having him back in the white house. of the when you think he would beat biden or any other democrat? >> i think people remember very clearly how prosperous they were under his administration, how safe we were, never had a more pro-israel president, they remember the good times, they look at what's going on now discussed so poll after poll continue to show not only him holding his own against
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president biden but growing that lead. so time to put this to bed and select donald trump as our nominee. stuart: congressman russell fry, thanks for being with us. have a great thanksgiving. the jewish owner of a new york city supermarket chain said his cashiers were intimidated by pro-palestinian protesters. come into this and take us through what happened please. ashley: not only where they intimidated by pro-palestinian protesters, they also defaced israeli product in the allies that isles. the grocery store chain is boycott target by student group at columbia university because the company boasts simply that it produces or proudly imports from israel. the store owner who is a columbia alumnus says it doesn't make sense for students at an elite ivy league school to support terrorists and
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spread a hateful message adding he won't give into bullying and intimidation. the student group also calling on shoppers to avoid starbucks, and the sweet green restaurant chain accusing them of targeting pro-palestinian protesters. that supermarket stayed open extra long during the covid pandemic so that students nearby could get access to food and this is how they get repaid. stuart: any comment? brian: you work out stores, that's fine, boycott starbucks but when you walk in and destroy somebody's property there ought to be consequences. students don't get consequences when they do it at the store or on campus, the behavior will not change, that the fundament a problem. stuart: i don't understand why people of color are going towards the palestinian cause. i don't get it. brian: don't ask me. forget the color of your skin. it is basic moral reasoning.
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for some reason a generation has lost the ability to do that. i suspect it has to do with the education system. stuart: that is what everyone is saying this morning. amazon blocking any employee from getting a promotion unless they return to the office. we've got that story. patriot awards were last night, third generation carpenter handcrafted every award given out, gives his story after this. ♪ ♪ (adventurous music) ♪
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stuart: there isn't much price change in the stock market so we decided to show you the 10 year treasury yield. dead flat. 4% or 5%. lauren: started to get excited about it and i wanted to temper your enthusiasm about it. it is friday. stuart: we got a message, stop picking on stuart, remember that? bitcoin, where are we, there is some movement, 36, just $36,000.
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are you going to tell us what is happening with applied materials which is down? lauren: semiconductor equipmentmaker, intel reports a criminal probe, reuters says they are under investigation for sending products to a chinese company without the proper -- stuart: last thing you want. lee otto. lauren: they are being added to the hang seng, they will develop an electric tv in february, fast-moving technology, 12 minute charge gets you 310 mile range. that's but a good. starts at $83,000. stock is up 5%. stuart: expedia -- lauren: they got an upgrade to outperform. they see 50% upside to the stock. stuart: they didn't put that on the show this morning.
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he could have taken credit and given us some credit too. lauren: this loyalty program, he really thinks they are at an inflection point. stuart: an interesting story, the ceo of walmart says he thinks we could see some deflation this holiday season. what's that about. lauren: that a strong word, doug mcmillan says walmart is already seeing prices come down for almost everything they sell in their stores especially the grocery items. a lot of people go to food shop because walmart has good prices. and he expects, the snack aisle, that's why spend my money at the food store, he expects prices at the pantry to come down too. technically that's bad for walmart's business because it's great when people come in and spend more money but better for the consumer, he says if we are in the deflationary environment. i don't think we are in its inflationary environment. inflation is slowing.
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stuart: some prices of some items are coming down and that will be noticed. brian: a little bit but grocery prices are up 17% over the past two years so trackback a little bit. i think he's doing a little advertising, by the way, our prices are coming down and catch it as deflation but come over to walmart, don't you think? stuart: you are right. you spend a lot of money on snacks. do you ever you ever purchased pork rinds for the children? lauren: no. stuart: it is friday, just thought i would ask. neil: just got a wrap in our ear but i don't know where this is coming from. stuart: thought i would just ask him throw you off course. the fifth annual fox nation patriot awards were held last night in nashville, tennessee. our next guest created the handcrafted american flag trophies that were handed out. tony cerrado is 1/3 generation carpenter and joins me now. how did you learn to do this?
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>> i've been doing construction my whole life, third generation. had a lot of great training from my dad who was a master at it and been added all my life. stuart: on screen night now, you created that award on the left-hand side of the screen, how long did it take to make that? >> somewhere around 12 to 15 hours, we made a few designs, to decide which one they wanted. stuart: what inspired you in the first place? >> i always admired our men and women in the military and first
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responders and one day, interviewing a young man in high school, getting up in the morning, finishing them and selling them giving money to the veterans, thought that was something i could do and only thing is i made the flags but didn't sell from. gave them to show appreciation. stuart: i hope fox paid you for those awards. stuart: they are a labor of love. stuart: really should, not doing that. are you planning to retire at any point. it is last year.
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after 50 one years, the same business, the same partners. my partner of our company, my first flag recipient when i started before the pandemic. vietnam veteran and close personal friend of mine. we when you are doing great work and it was really appreciate it. they stood out. thanks very much for joining us. i would like to see you again. before you retire, come back. changing the subject. texas says there police officers will enforce immigration law. mexico categorically reject that. what does it mean? where are we going with this thing? traveling for thanksgiving, heavy rain, wind gusts, even snow, could affect your plans.
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stuart: stocks going nowhere. the dow is down 30, nasdaq down 23. going nowhere really. now there's this. winter storms wreak havoc for millions traveling, can you tell us how bad it is going to be? ashley: it has been worse in previous years. having said that, heavy rain, gusty wind and even snow expected as a pair of storms forecast for the eastern half of the country next week. if you can leave early next week before the bat weather moves in, much of the eastern us can expect rain and wind for the most part but the upper midwest and parts of new
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england, snow could make travel more difficult. the good news is if your out west, choir weather is expected for the holiday period, according to aaa, 55.4 million are expected to drive at least 50 miles from home for thanksgiving, that is up slightly from last year but in the eastern part of the us, you will have a better time than if you leave wednesday afternoon or evening. stuart: that was the question i was about to ask. today is the official start of the thanks giving holiday travel season. tsa is expecting 30 million people at airports nationwide in the next 12 days. live at denver international, who do you think is the best day to travel to avoid all this? >> reporter: these folks are hoping it is today and they might be right. also tomorrow and sunday. for your holiday journey.
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the tsa says that the three busiest days in our nation's airport will be tuesday and wednesday and the sunday after thanksgiving. they want all travelers to get to their airports at least two hours prior to the flight to get through those security lines. denver international airport is the third busiest in the country. recently a majority of the colorado congressional delegation wrote a letter to the tsa administrator accusing the tsa of not meeting staffing get needs for denver. one congress member who signed a letter, republican ken buck. >> i've never seen anything as bad in terms of airport security, they are worse by a magnitude of four or five van i've experienced at other airports. >> reporter: in response, the tsa said tsa will respond via official channels and won't comment on that topic.
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we do our best to maintain standards of 30 minutes, 10 minutes in tsa pre-check screening lines. tsa standards, the length of the line. this is expected to be a record-breaking year for air travel, makes getting here early a rule. >> to avoid the long lines, that is why. >> it would happen if more people did that. it would help. >> the amount of people that do travel, give yourself some leeway. >> reporter: hope more folks than not follow it. stuart: thanks very much. royal caribbean is going to make taylor swift fans extremely happy. i know what they are doing. lauren: one of the rooms you can stay in is nice.
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raising my hair on the weekends. it is the place to go for teenage girls which start at $1500 and coincides with the end of her miami tour. there's a possibility that she could perform. stuart: what is the ticket price? 1500? lauren: she would get torn to pieces, although swifty fans. stuart: out of the question. it is just speculating. lauren: it just makes sense. brian: did she get money from this? is she licensed? lauren: guarantee. brian: can they do it without her? stuart: i don't know. they can use someone's face, name and music image to make money in a sector. brian: don't know what her involvement is. stuart: a related story here,
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travis and jason kelsey are brothers. i knew that. just released a new christmas song. is taylor swift's popularly rubbing off? she's in a relationship with one of them. lauren: she's dating travis and this song he sang with his brother jason is number one on itunes. jason plays for the philadelphia eagles, made a christmas album and travis made his thinking debut this year and they saying fairytale at philadelphia. listen. ♪ >> that's pretty good. they could play football and singha so is taylor swift going to join them in 2024? stuart: i don't think so.
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lauren: you give her a lot of jobs in this segment. brian: these guys, how much have they written her coattails? it's a thing to behold. they are number one on ituness for us on, that tsonga. a claymation song, number one on itunes. stuart: bringing in female viewership but 37%. we want don't know why you are all attacking me like this, she's a great singer. brian: you need to get on board, get your cruise tickets. stuart: can you see me? lauren: i would pay to say that. lauren: if i had someone, i was putting on an album, she wasn't, just saying. stuart: just saying. i'm going to move on because i got serious stuff to talk about. thank you very much. more than hundred harvard professors condemned the school's president after she came out in opposition to anti-semitism on campus. the story, 9 of 10 top 10 business schools in america
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stuart: more than 100 professors at harvard university slamming the college's president, don't like their stance on anti-semitism. what are they saying about it? ashley: condemning the harvard president for issuing a statement that opposed anti-semitism on campus but they claim she has been bowing to the interests of wealthy donors and alumni and infringing on the free speech of students. in an open letter to the president, those professors say in part as harvard faculty we have been astonished by the pressure from donors, alumni and even some on this campus to silence faculty, students, staff, critical of the actions of the state of israel. the letter demands the school
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4-man advisory group on islamphobia and anti-arab racism similar to the one harvard announced last month to combat anti-semitism. stuart: you are a harvard grad. brian: harvard was ranked this year is the worst school in america for free speech. i look at these professors coming out now and getting upset about the president, where have you been, and it was supposed to one of the leading universities. >> being inundated with critical race theory. our institutions are racist, and continue the oppression. cornell university professor bill get jacobson joins me now. how entrenched is this crt, critical race. business schools.
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>> we found 90% of the top 10 business schools, the top 10 ranked, most influential have some sort of programming, 60%, it is fairly entrenched, stuart: does it affect business students, they come out with what kind of you. >> we don't know what view they come out with but know what they are being taught and they are being pushed to adopt a racialized view of society, society that is systemically racist, all sorts of hidden racism wherever you go in society, they are being pushed into a radicalized position. that has potential implications for society. these people run corporations and the college graduates go on and turn their corporations
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into just as woke as they were in college so this is a real threat to business environment. and stuart: i heard stories of white students having to stand up and confess their privilege. that kind of thing happens. >> don't know if it happens in business schools, recorded them, people who take photos of them, a lot of the programming that goes on is not meant to lift anybody up, it is meant to shame people based on the color of their skin, no question that goes on. can't say if it's going on in these business schools. stuart: where did this crt idea, from? >> it was 30 or 40 years in the making. it is could hold legal theory, a theory that our system is inherently corrupt, at the legal aspects of our society,
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meant to reinforce these systems of power. in the late 1980s people began to substitute race for the old marxist class analysis. crt is marxist class analysis substituting race for class and it is something that caught on and it started on campuses and now it has moved outward. stuart: professor jacobson, thanks very much, would love to see you again on this. brian: one of the business school he's talking about, what is interesting is business schools used to be immune from a lot of this, it was a study of what works. a lot of these schools jump back from what works or what works in reality and start pushing these theories and watch it work its way into the corporate world, bud light for example, those are mbas out
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there acting like activists, how do they serve consumers. the pendulum shifting back. but look at these academics institutions, they are leaning in harder. in the real world it is failing. in academia they are pushing in harder. stuart: be sure to catch you on the show. weekdays at 1:00 pm. still had, steve hilton, and texas general office commissioner don buckingham. the biden team waived oil sanctions on iran. that means them a lots can keep earning millions to finance attacks on israel and america. if trump were the president, it would look like this. it is "my take" coming up next.
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>> our place in the world right now is trying to figure out if we can afford thanksgiving dinner. that's our place in the world. whether or not w

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