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tv   Varney Company  FOX Business  December 1, 2023 10:00am-11:00am EST

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work seamlessly with medicare and help save you money! so how do you find the plan that's right for you? one that fits your needs and your budget? call humana now at the number on your screen for this free guide. it's just one of the ways that humana is making healthcare simpler. and when you call, a knowledgeable, licensed agent-producer can answer any questions you have and help you choose the plan that's right for you. the call is free, and there's no obligation. you know medicare won't cover all your medical costs. so, call now and see why a medicare supplement plan from a company like humana just might be the answer. stuart: friday. what is that?
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have i got that right? okay. >> frank sinatra here. >> lauren is not here today. good morning, everyone. 10:00 eastern. straight to the money please. i see some red for the nasdaq down 40, read for the s&p, down a point. the dow industrials are up 67 points as we speak. the yield on the 10 year treasury is up a little at 4.34%. the price of oil mid $70 barrel range but look at bitcoin, doing very well recently and this morning, $38,300 a coin. 3 a coin. latest read on manufacturing just coming in. what have we got? ashley: the numbers 46. 7. anything below 50 years in contraction. that's lower than forecast and
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matches exactly what came in in october which had fallen. it marks the 13th straight month of contraction for the manufacturing sector which the third is happy to see. stuart: no immediate impact on the market, down 30 on the nasdaq, up 50 from the dow. now this. in the debate last night, governor newsom dismissed any concern over president biden's cognitive decline. he would go with biden even if he is 100 years old. that's pure politics are not rooted in reality. it is time to stop with this. the president's mental condition is a national security threat. he can't do the job. vice president harris would be a disaster in the oval office. the new york post says this. president biden's mental struggle makes it almost cruel
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to allow 2024 run. the post details the trouble he had with just one recent trip. he went to colorado, went off prompter. that's a disaster, tried to joke about the nuclear codes that are always with the president. the joke fail. he pointed to a machine and says this is not nuclear weapons, is it? the president of the united states should not be joking around like this. and he looked over at south korean executive's at the plant and set i'm friends with your leader, mr. moon, you know. who is the former leader of south korea. the current leader who biden entertained a white house state dinner just in april of this year. he also referred to congressman trump. what are foreign leaders when they see the leader of the free world floundering like this. it it is not widely reported, the media is covering for him, that is dangerous, the whole world can see that something is wrong.
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democrats wake up. you are doing neither the nation nor your party any good sticking with this man and it is cruel to him. sadly, that is true. second hour of varney just getting started. as usual, tammy bruce joins us at this hour on a friday morning. is a cruel for biden to run into thousand 24? >> it was cruel for him to run it first in 20. was cruel to him and cool to the country. they knew what was happening, that is why they hid him in the basement but that worked. the demonizing of trump worked. they believe they can do it again and newsom's comment, he might as well have said, i hate referring to a president of the united states as a cadaver but he was saying it doesn't matter that biden doesn't know what he was doing. if he was 100 he would vote for
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him because biden is not running the infrastructure and that's why everything is such a disaster. that is why you can say i would vote for him if he was a hundred because biden doesn't matter to them. she's not the one making the decisions which is why if he was, we would be seeing a different dynamic in the released with israel, how iran is handled, other people are handling it. those people don't face repercussions or the wrath of voters so are more free to do as they please. stuart: lindsey graham is tearing into democrats with their anti-israel rhetoric. >> senator schumer made an eloquent presentation about the lives of anti-semitism. he's right about that. what happened here is 39-11 for israel on october 7th. 1200 jews were slaughtered in their homes, the best killing of the jewish people since the
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holocaust. this call for a cease-fire is nuts. what would we have sent to a group that asked us to have a cease-fire after 9/11, we would have told them to go to hell. stuart: you have a new piece, the left's dangerous indifference to anti-semitism. make your case. >> by staying silent or looking away, you are empowering the enemy, the terrorists, by not taking a moral stand. this for some people, they know anti-semitism is a euphemism, it's do hatred and you don't want to admit it is happening. we have to admit it is happening, something terribly wrong has happened and if you feel it is dangerous or you are frightened, that's the time it matters to stand up. there's a school where a jewish teacher was hunted down by a
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mob of high school students and the school officials said that is horrible but you can understand their passion. they feel a kinship. that's indifference. would we say the same about a mob of white students going after a black teacher in the aftermath of the george lloyd situation? no. we understand bigotry and hate crimes have to be stopped. if we don't take a stand and sit it in their mind about right and wrong it will only get worse. when it comes to do hatred this is the canary in the mineshaft. we know what it is. there is no guessing. we understand what can happen and it can happen here with open borders and lack of morality and decent teaching of history in schools. stuart: you are right again. thanks for the message. far left activists tried to ambush senator marco rubio. the activists were demanding a cease-fire. take us through what happened.
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ashley: essentially rubio stood his ground when confronted by the founder of the pro-palestinian group code pink. watch this. >> will you call for a cease-fire? >> i will not. i want you to get this. i want them to destroy every element of hamas they can get their hands on. those people are vicious animals who did horrifying crimes. >> what about the civilians? >> hamas is hiding behind civilians putting civilians in the way. ashley: he faced it head on, rubio continued to stand his ground saying he cares about the residents of gaza but he says hamas is 100% to blame. stuart: back to the markets. ken fisher, the man himself. how will the election affect the market in 2024?
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>> thanks for having me back on. after my presentation tier i am amazed you do. simply, election years have been overwhelmingly positive in us history, 83% in the history of the s&p 500 are positive, 11%. secondly, when the second year of the president's term has been negative like 2022 was the election year has been positive every time since 1932, no exceptions with average returns of 15%. finally, there is a thing people don't know about that i will tell you. and republicans and democrats in total tend to be, the election year tends to be above average. the inaugural year
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below-average, that flip-flops like a cross, it tends to be below average. there is a little difference when trump was first elected because if you recall, if you believe he was really a republican there is a certain fear about him. people thought he was elected to be terrible. he had a democrat like inaugural year with 22% return in 2017. that's how it works. stuart: i'm trying to go through your historical analysis. if trump were reelected next year what happens to the market in 2025? does it go up? >> in 2,024, if trump is elected, if any republican is elected you should see an above average year. in the inaugural year that would follow, people tend to
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believe a republican will be good for business, the democrat will be bad for business. when we get them in office they can't do everything they promised. they never can. there is a disappointment for the republican in the inaugural year and with the democrat, can't be is antibusiness in the inaugural year. biden had a 28% inaugural year because you can say he was bad, he couldn't be as bad as people feared. stuart: please come back again. we love your analysis. it's really spot on and accurate, we appreciate it. will you come back soon regardless of your performance today? >> you ask me and i will come back and stay something silly. blue when you've got a deal. see you again soon. take a look at the movers. i've got to is are down 2% at this moment. you want to explain that, ashley? ashley: apparently fans are
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disappointed over the cybertruck launch event calling it cringey and criticizing the pickup's range of pricing on social media. the cybertruck starts at just under $61,000, tens of thousands more than what is the promised in 2019, the stock is down 2%. coming up next is dell falling today after reporting mixed third-quarter earnings, dell's revenue coming in at 22. 3 billion, that's down 10% from a year ago but below the 23 billion the analysts had forecast. last upcoming mcdonald's, dell down 6%. mcdonald's, the burger people, they are going to make a change to one of the most popular items, they will start making new and improved burgers that includes more than 50 moderations. how you can do 50 modifications? the changes come as the company
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is gearing up for its new ad campaign which will feature its, quote, best burgers ever? stock up half of 1%. blue and good advertising slogan. more retailers are offering keep it policies for their returns. what does that mean? ashley: 59% of retailers have so-called return it isless or keep it policies saying it costs more to ship the items back then they are actually worth. that is according to a survey of major retailers that included walmart and amazon. us shoppers are expected to return $173 billion worth of holiday purchases in the us this year, up 28% from last year. the typical return cost retailers $30, they have to be transported, sorted and resold
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or simply disposed of. amazon says they keep items on a small number of returns as a convenience and to keep devices low. many retailers don't want you to know this because you do a lot of shopping and have to pay for it. stuart: now this. the texas attorney general is suing pfizer, claiming pfizer overstated the effectiveness of the shot. we have details for you. the president's green agenda had a roadblock after car dealers in all 50 states side a letter opposing biden's ev mandate but that is in stopping the white house from rolling out new regulations. edward lawrence has that story coming up. right now, house republicans meeting behind closed doors to impeach -- formal impeachment into president biden having to do with his family's overseas business dealings.
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congressman pat fallon on that next. this justin. retired associate supreme court justice sandra day o'connor died this morning at the age of 93.
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any specialist, anywhere in the us who accepts medicare patients. so call unitedhealthcare for your free decision guide... and get help protecting yourself from those out-of-pocket costs medicare doesn't pay. oh, and happy birthday... or retirement... in advance. stuart: where are we on the markets, thousand 50 in the nasdaq down 57. the white house is rolling out new regulations on electric vehicles, they want to stop beijing from cashing in on america's green push. edward lawrence is at the white house. what do we know about this? >> reporter: they are coming out of the treasury department, they asked the treasury department to limit chinese batteries to benefit from that $7,500 ev credit. the rules will aggressively be rolled out the next two years
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and it centers around the definition of what a foreign entity of concern is. in 2020 for the proposal makes cars ineligible for the $7500 rebate if less then 60% of the batteries manufactured or assembled in north america and if less than half the materials are extracted or processed in the united states our country with a free-trade agreement with the us and in 2025, 60% of the materials must be extracted or processed in the us or a country with a free-trade agreement. what i recall about these changes the treasury secretary and deputy treasury secretary say will force manufacturing to the us. >> our guidance similarly works to advance these goals and incentivize them more and more on shore and eventually over time, cutting american fuel bills, emissions in the transportation sector while building american clean energy supply chain.
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>> the rules also require physical tracking of the materials and batteries by the automakers. republicans are concerned. >> when you have a former governor of michigan selling the strategic petroleum reserves, making us weaker and forcing the ev transition which people don't want, they are more expensive, these are the types of policies that sent jobs to mexico and china in the first place. >> if you look at the rules, technically you can have batteries for mexico and canada and materials from australia and get tax credits. stuart: thank you much. congressman pat fallon joins me. you want to stop what i'm calling the forced adoption of electric vehicles. how are you going to do that? >> it's important. i trust the free market more than the federal government and this is bureaucratic fiat. we have divided government and we have a majority via its
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lemon the house and when we talk about funding the government we have to thread a needle but we can prevent taxpayer money from going to implement these new rules. that is our leverage. stuart: i would imagine there's going to have to be a bailout of american car companies which are being forced into this ev revolution because it is not working. i presume you can start a bailout. >> let's talk about that. you make a point. 6% of all the cars now are evs and new sales last year accounted for 1% because 30% more expensive with 60% less range. the free-market say that evs's time hasn't come but the biden administration, car manufacturers lost $3 billion. what about the grid. can the grid hold this? the biden administration has the goal of 50% of all cars by
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2032 to bevs, we don't about the grid and what about the charging station? the infrastructure is clearly not there. it is like these rules by fiat, they put a band-aid here, these are unrealistic and you cannot implement them. the american people don't want them. stuart: should we protect american evmakers by keeping china out? >> china certainly, there is no such thing as fair trade, donald trump took them on, currently right now 60% of all production of ev materials is dominated by china, 90% of the process, 75% of the manufacturing. we are so far behind, it is sinister way, they dominated the ev market, one of the reasons they had the trade initiative across the globe, they control the minds of congo
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in the drc so this protectionism, i'm not sure it will get us there. stuart: right now house republicans are meeting behind closed doors discussing a vote to formalize biden's impeachment inquiry. would you vote for it? >> one hundred%. i sit on the oversight committee, seen the evidence over the last year. we can teach a 3 credit college course how clearly hunter biden was the bad man, for the biden family corruption and so many examples of this. let me give you an example about 8 times we had bank records from the bidens, we found additional foreign moneys pouring into their coffers, every single time, up to $24 million now and now we discovered loans from jim biden to joe but never any flow outward. it always flows into joe, never
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joe giving any money to his brother or son because there aren't loans, they are payouts. stuart: is there an element of impeachment fatigue among american voters? >> i have impeachment fatigue. i don't want to see every time we have divided government, the house is one party, the president from another party, they get impeached. that's what the democrats did, they impeach donald trump twice and i think wrongfully. you have to take care. we haven't voted on impeachment of president biden, we opened an inquiry and we will formalize the inquiry because we need to find out, need more tools in the toolbox to find out more information. every time we keep digging we find more stuff. all the evidence we find never contradicts stuff we already know. it always corroborates it. every piece of the puzzle continues to fit together perfectly. blue one thanks for joining us on friday morning, have a great weekend. coming up, governor gavin
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newsom says california, the lowest crime rate in 50 years and booming economy. why are so many residents fleeing his state? steve hilton will weigh in on newsom's performance last night's debate. stealing catalytic converters has turned into a billion-dollar crime business. in chicago 17,000 were stolen since 2019. that is next. (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf
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dual-eligible special needs plan. so, call now. humana. a more human way to healthcare. stuart: first day of december, first trading day day of the month and a split market, dow is up 40, nasdaq down 73. is an interesting story, it is a high from last year, 38-3 on bitcoin. ashley is looking at the movers starting with 5 below. ashley: 5 below. that's not temperature outside. they just reported robust third-quarter earnings, 14% sales growth for 736 million
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and a record 74 stores converting 50% of their store waste, the company expects fourth-quarter net sales from 1.32 to 1.35 billion. the stock is up 33/4 of 1%. meta received a request for information from the european union regulators. they are seeking more details of the response to child safety concerns on instagram and other risks posed to children on the platform, the stock is 1.5%. lululemon lifted his price target for $450 to 520. the firm kept its buy rating on the retailer up 2%. stuart: thanks very much.
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we told you about the rising catalytic converter theft, 17,000 stolen in 2019. a car repair shop in chicago, how can drivers prevent this kind of theft. >> reporter: the solution won't cost much money. i had the expert tell us more about it. tell me what you're holding and how this can help people prevent catalytic converter theft. >> this is a can't shield that gets installed. underneath the vehicle itself, right up in this area, what it does is it slows them down. it takes too long. >> reporter: you told me a woman came in with her catalytic converter because the thief panicked, left the catalytic converter and came in with her car. how fast does this happen?
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>> minutes, sometimes seconds. depends on the vehicle. it would probably take 45 seconds. >> reporter: wise it's so important for thieves who want this? what are they trying to get from it? what gives them that value and why are they targeting hybrids? >> hybrid have a larger converter. more products inside of it. you have iridium and palladium which is $10,000 an ounce. it is quick money. >> reporter: we are learning this is $800-$1200 per catalytic converter. stuart: thanks very much. police in san francisco made an arrest in connection to a dozen retail thefts. telus. how old is the suspect?
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ashley: a young lady 14 years old, $30,000 in stolen merchandise. cording to the police the girl is part of a roving band targeting stores in downtown san francisco. that area include several upscale retailers and a new bill has been introduced that would lower the threshold of making theft of felony, to 400. too little too late, dozens of retailers shut down and moved out amid the rampant fine -- crime. who would want to do business there? stuart: theft is theft. you walk out, you have stolen out.
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the cease-fire between israel and hamas is over. you can see thick black smoke rising over gaza. nate for a has the latest in our next our. some cop 20 leaders want to shut down natural gas production. natural gas enabled americans to cut carbon emissions. it is the lunatics running the asylum. the story is next. ♪
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down 50. now this. what headline. at the climate summit, some cop 20 leaders want to stop the production of natural gas. it is probably not going anywhere but shows the mindset of the climate warriors. i hope it goes nowhere because it is natural gas that enabled america to cut carbon emissions by 20% since 2015, and number 2, we are finding out how close we came to disaster last christmas because of biden's pipeline policies. it is laid out in today's wall street journal, new york's near zombie apocalypse. during extreme cold spells, it ran short of gas. and hit comes close to a right and were you couldn't heat your home, it could have lasted no
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heat in a northeastern winter. the crisis could have been avoided if we were allowed to get the massive supply of natural gas that runs under new york state. pipelines could have brought in extra supplies but they too have been banned, truth is our energy policy is run by climate extremists. it is lunacy for cop 282 entertain banning natural gas on the grounds that all fossil fuels must go. it is foolishness to do this for our own supplies and stupid demand pipelines that provide the heat we are going to need. climate policy here and around the world is failing and we are paying the price. mandy, we are paying the price for the left's green agenda. are you going to argue with that? >> you should be in charge of global climate policy, people
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attempting this live in a fantasy land, the idea of going after natural gas is lunacy. it is why we have been prosperous from an economic perspective and reduced emissions and it is why we have a system that can safely and reliably deliver heat which is increasingly important in the dead of winter to american citizens that need it most and none of this pain being inflicted on regular citizens is necessary to improve the environment or prove the climate. it is unnecessary and we proved this and the trump administration when we showed we could have a good economy, cutting mission and deliver cost savings in the form of energy to the american people and allies abroad. stuart: what are we going to any admission of green policy failure? >> you won't hear it from this
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administration. you have president biden wanting to end all fossil fuels, and executive order that directed the whole of government response to exact control, suppress the types of industries they do not like which is mainly us oil and gas and anytime prices go up which is a natural reaction to their policies they try to find other people to blame. were member when gas prices went up they blamed gas station owners which are small business owners, trying to survive under energy policies but also under the effects of bidenomics and the inflationary problems we continue to deal with. stuart: i have to tell you i live in the northeastern part of the united states. i lived through 50 odd winters. i'm worried what is coming down the pike. what happened last december could easily happen all over again.
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you see that concern? >> i do. it is an irresponsible approach to an important role the state and federal government have which is ensuring access to basic utilities, water, energy and heat in the dead of winter. it is a life or death situation and there is a human cost and a financial cost. last year it was projected americans are paying $14 billion more to keep their homes because of climate policies coming from the biden administration. stuart: thank you very much for joining us. we appreciate it. hope to see you again soon. a new study shows top politicians and their followers are spreading misinformation about what? ashley: researchers analyzed 14 extreme weather events that took place in latin america this year and last, it shows
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every storm, fire or flood. use the event to further their political agendas even if their reasoning is based on misinformation, politicians are weapon icing events, and political polarization, they go hand-in-hand. the left and right have entrenched views that affect the base with extreme what weather events but every time we have a big storm it seems everyone wants to point the finger at climate change when we have been having storms for hundreds of thousands of years. stuart: thanks. back to you later. the health expert claims, men suffer more than women do when they are sick.
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>> i think i'm getting the black lung. not very well ventilated down there. >> at the diner one day. stuart: is man flew a real thing or are we just whining? we will try to get to the bottom of it. hospitals in massachusetts report a surgeon child pneumonia cases. doctor marc siegel will tell us what we need to know as we head into the winter. that is next.
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stuart: nasdaq is down 45, not much price movement. i want to talk about man flew. health experts claim it is a real thing. men suffer more than women when they are sick. all right, mark, do men suffer more or are we just whining? >> how about if i take the fifth since i am a man and say
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both are true. we wine more. when we go through childbirth, women are better capable of handling things without complaining like being sick. on the other hand there is the issue of the immune system and with estrogen, due to reproductive hormones. we all believe scientifically that women have stronger immune system this, more equipped to handle the world, they may not get as sick from flu, they are not going to complain as much. both are true. they are more equipped to handle respiratory virus like flu and they are not whiners like us. stuart: i do not wine. i suffer through illnesses, i don't wine. let's bring in ashley. i need a second opinion on this. is man flew real for you. ashley webster. ashley: i think many men act
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like babies. hopefully my wife isn't watching but i do like the attention i get and the way she looks after me, i will stretch it out an extra day or two. >> i can absolutely vouch for you. you do not complain. i know that personally. you are tough, never complain about illnesses. i watch you on tv to see if you are sniffling to see if you are suffering or something. ashley: stuart: i live alone so i have no one to wine to. something serious just in. five republican senators asking biden to restrict travel between the us and china after an increase in chinese respiratory illnesses among children. what do you say to that? >> it punctuates the problem.
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if there's a new emerging contagion in china they are not going to tell us. they have a history of suppression. the world health organization, that is what we saw with covid. that was supposed to be fixed after 2003. it is not fixed. a lot of kids go to northern china makes us worried. and be reassured by international organizations doesn't mean it isn't something new. it isn't anything new. he says in the united states we are not seeing an uptick in the atypical bacteria we think is the cause of this. i don't think travel restrictions will do much. it is more the point of five republican senators saying what i just said, can't be sure what is going on. don't try to reassure us. that's a political point.
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medically i don't think it is bioengineered. china had lockdowns last year and now that they are opening up, more bacteria and more viruses are circulating. this one is resistant to antibiotics. stuart: what about hospitals in massachusetts and ohio, reporting a spike in child pneumonia cases. what is the treatment and how fast does it spread? >> it is called white lung syndrome and may be related to what we see in china. what is is you get very sick very quickly, you get cough, and fever but before, in warren county ohio. the state health department, micro plasma is part of the problem, it is more rsv, we are
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in the heart of rsv outbreaks. rsv virus, which you treat with antibiotics but resistant. that is what this is about and we will see more of this. it is not fluent it is not covid. stuart: thanks for being with us this friday morning. >> you are tough and so is ashley. stuart: good story. all right. next case, one covid variant once considered rare is searching in america. tell me more. ashley: the cdc says this strain accounts for 1/10 of circulating viruses, colder temperatures in places like new york account for increases in the northeast in recent days. like the covid 19 virus and other viruses it is constantly changing into new mutations
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making it easier to spread or resist medicines or vaccines. researchers say the latest strain does not seem to be driving increases in infections or hospitalizations and the risk of illness is low. i wanted to add this. texas ag ken paxton accusing pfizer of misrepresenting the effectiveness of its covid 19 vaccine and filed a lawsuit. the suit claims pfizer new from its statistics, to intimidate anyone who questioned its use. the suit is asking $10 million in the civil fines and the court order that stops the drug company from speaking about the effectiveness of the vaccine. stuart: got it, thanks. still had, house judiciary chair jim jordan moving forward with a formal impeachment inquiry into president biden. california guy steve hilton on california governor newsom's debate performance last night. does the rally have legs? the 11:00 hour is next.
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