chubb as well and caterpillar. there are recently concerns of a slowdown economically has dropped but in my view that is when you want to enter these names. liz: you're just going for the gold or the highest dividend, you're looking very long term as these companies have, at a business that has legs? >> 100%. you want to outperform the markets. these companies provide that dividend growth. i highly recommend investors to buy these, reinvest the dividend because that will compound over time, and increase the rate of returning. liz: hold on to them, he says, mcdonald's, chubb, caterpillar. eric bailey, thank you so much. >> thank you. [closing bell rings] liz: here we go home depot cofounder and business genus, ken langone will be here to talk about the economic outlook, the state of the world and yes, the political landscape. we'll see you tomorrow. larry: hello, folks, welcome to "kudlow," i'm larry kudlow.

all right the israeli idf is punishing hamas murderers now throughout gaza but meanwhile iran terrorist proxies continue to hit u.s. military assets in the middle east. here with the latest our own edward lawrence, live at the white house, thank you, edward, what can you tell us? >> reporter: larry, two big briefings today, state department as well as white house briefing today with jake sullivan, the national security advisor. two big themes came out of that, u.s. criticism, criticism of u.s. administration about not standing for the fully enough behind women as hamas used rape as a form of warfare. about 90 minutes ago the state department spokesperson addressed what the israelis have shown the u.s. about those atrocities committed upon women on october 7th. >> we have been briefed extensively on a number of their findings. we don't of course have our own independent assessments to make right now, we don't have people on the ground conducting such

assessments but we've seen hamas commit atrocities both on october 7th and since october 7th and we obviously condemn those atrocities and support israel's actions to hold hamas accountable for them. >> reporter: so today u.n. session discussed allegations against hamas making more war crimes public. the other big theme, iran poking the eye of the united states again. the uss carney shot down four iran-backed houthi drones in the red sea. three of the ships, they were going after three ships in the red sea. u.s. positions also continue to see attacks by iranian-backed proxies. at least 75 times u.s. troops and positions have been attacked since october 17th. national security advisor jake sullivan says the u.s. is discussing ways on how to respond. >> we have every reason to believe that these attacks while they were launched by the houthis in yemen were fully enabled by iran. we have seen this unfold over the course of the day yesterday.

we are taking this time to consult with allies and partners because we believe this is not just an issue for the united states. these ships were not u.s. commercial ships. they were from a variety of nations. so we will take the time to do the appropriate consultation, build a response, that involves as much buy-in from as many countries as possible. >> reporter: they're talking with the allies as it seems iranian-backed proxies are still attacking-ups troops in that area as well as going after international ships in the red sea, larry. larry: thanks very much, edward lawrence, we appreciate it. so as iranian-backed terrorists continue to hit u.s. military assets, most recently iranian-backed houthi militia targeting israeli commercial ships as well as the uss carney, baden national security advisor jake sullivan made this virtually unintelligible statement in the white house press room today. take a listen to this one. >> the president and i along

with secretary blinken and director burns will stay in touch with our israeli and qatari counterparts and egyptian counterparts to press hamas on this issue. hamas is refusing to release civilian women who should have been part of the agreement. it is that refusal bill hamas that has caused the end of the hostage agreement and therefore the end of the pause in hostilities. larry: so, let me get this right, mr. sullivan. presumably speaking for president biden, you're going to stay in touch, quote, unquote, with our counterparties in israel, qatar and egypt to press hamas on the issue of hostages? sure, right. we're going to sit down at a long white clothed rectangular table like in a well-appointed restaurant to talk calmly with the cutthroat murders of hamas. next thing waiters will ask hamas cutthroats if they prefer

their water plain or bubbly. i don't think so. these people are not civilized. apart from the murder of 1400 innocent israelis and other civilians on october 7th, murdering grannies, children, chopping heads off, putting children in ovens, we're learning more about sexual violence and rape committed by hamas. these people are not civilized. that is why you can't quote stay in touch with them. the problem for mr. sullivan and his boss joe biden, and the entire foreign policy crew in the biden administration they continue to to appease iran. iran is the paymaster and chief strategist of hamas, hezbollah, houthis and others. this is about appeasement. it is also a failure of deterrents. mr. biden keeps talking about avoiding a middle east war escalation but in fact iran is doing the escalation.

appeasement will do that when you fear your enemy more than your enemy fears you. the united states government appears to be doing virtually nothing to deter terrorists. pin rick responses, ridiculous diplomatic double speak, smoke blowing from the white house press room. that is all you get. next time mr. sullivan appears in the white house press room some enterprising reporter should ask him when his administration will enforce the economic and energy sanctions mandated by congress? or stop the 35 billion-dollar a year oil sales to china? or, interdictor illegal shipping, or impounding illegal ships themselves? or failing any of that, when will the mighty u.s. military be unleashed to destroyer iranian oil fields or perhaps command-and-control centers, or training centers in iran?

that kind of force is the only language that iran will ever understand but right now, joe biden's not speaking their language. one of these days a lot of american servicemen and women are going to get very badly hurt or worse, because of mr. biden's continued malfeasance and that's my riff on this whole subject. all right, here to discuss or help me talk about it is kash patel, former deputy director of national intelligence, former defense department chief of staff and author of the wonderful book, "government gangsters." thank you thankthank you. kash when will bidens learn. it is iran and its proxies are escalating? of course they're escalating because they don't seem to fear us and they don't seem to fear us because we don't do anything about their escalation. one thing leads to another.

noon of it is any good, what do you think? >> great to be with you, larry. you know from our time in the trump white house, iran was number one priority for intelligence and gathering because they are the number one state sponsor of terrorism in the world. you ask when will the biden administration learn? they have simply chosen not to. they have taken the course of the national security policy of trump's administration, even wildly successful they will do the opposite, to appease, bend the knee and genuflect to the radical media. what it is causing iran to launch a three front wash, hamas in the south, and strike force in the carrier groups in the red say, one of the most important waterways that connects to the gaza strip, and we're doing nothing after 75 attacks on u.s. bases. larry: the thing is this fellow jake sullivan, who might add has a very checkered political past,

but we'll leave that for a moment, set national security advisor, so it goes, he is talking about keeping in touch with egypt and keeping in touch with qatar and keeping in touch with this and keeping in touch with that. it is like sitting down to a fancy french restaurant, did you like your water plain or bubbly? you can't keep in touch with hamas. first of all hamas is being run by iran, and second of all, these people are not rational. we know they're not rational. they're is only one thing they understand, kash, force, significant force, which the bidens appear to be incapable of generate generating. that is what i don't get. it has been almost two months, in fact it has been two months, 75 some odd hits later on american military assets, still no real force response, kash patel. how is that possible? i mean that's malfeasance of the

worst sort. >> you're, absolutely right. look they decided this on day one n the trump administration we designated houthis iranian shia proxy force that launched strikes on guided missile carrier in the red sea a foreign terrorist organization. we slammed them with that tag, went on offense they were terrorists killing our allies and american interests and americans themselves being harmed. the biden in the in the first 30 days reversed the that designation and called them a humanitarian group. they wanted to give them humanitarian aid. i'm not sure there are people that don't need humanitarian help in yemen. they are a for inch terrorist organization. unless you treat them as up is you will have these type of war-time efforts enacted against the united states of america and the biden administration is simply going to sit there and say, look at all the peace we have around the world when we have two world wars, as former

chief of staff at dod i maybe i take this one a little personally, but you fire a rocket ad united states missile guided cruiser we're firing 10 back in the trump administration. we shot and murdered quassem soleimani, what did they do, blew up a piece of rock in syria. the left-wing media was apowe fleck tick that occurred on donald trump. we have 75 attacks and nothing from joe biden. larry: it will redown against us. at some point those attacks will not be deterred as they have been and somebody is going to get hurt, men and women, patriots in our services are going to get hurt, lose their lives, because of this malfeasance. the only language iran will ever understand is massive force. i don't understand it, kash. maybe i do understand it but it seems to me -- i would like to see some military voices talk about this as well besides you and couple other people. kash patel, we appreciate it very, very much. thanks for coming back on the show. all right, folks coming up here

on "kudlow," the head of abu dhabi's national oil company who led this u.n. climate meeting, he says eliminating fossil fuels would send the world back to the caves. i couldn't have put it better myself. it is lovely turn of a phrase. we'll talk about it with mr. wonderful, the great kevin o'leary, when "kudlow" returns. ♪. there are some things that go better... together. burger and fries... soup and salad. like your workplace benefits and retirement savings. with voya, considering all your financial choices together can help you make smarter decisions. voya. well planned. well invested. well protected.

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consider adding this. call unitedhealthcare today about an aarp medicare supplement plan. ♪. larry: welcome back, everybody. so jabbar, the head of abu dhabi's oil company, he's the one who was the host of the recent u.n. climate meeting. he said intelligently, eliminating fossil fuels, eliminating fossil fuels would send all of us back to the caves. listen to this. >> please help me, show me, a roadmap for a phase-out of fossil fuels that would allow, that will allow for socio, for sustainable socioeconomic development. larry: joining me with a comment or two about that, and a few other things we welcome back mr. kevin o'leary, chairman of

o'leary ventures, "shark tank" investor, author of the cold hard truth on business and money and life. you were there. how did the crowd react to that? >> larry, i'm you're roaming reporter. i spent it was over a week in u.a.e. three huge things happened there, finance week prior to the climate meetings happened in abu dhabi, couldn't even walk there. they announced the m2 largest currency exchange going public that week. everybody was there watching that thing. number two, they announced the third in the world in development of a.i. technology with very accommodative policy. while we debate in congress whether we should do a.i. or not. meanwhile they're catching up to number three. larry: who is they? >> the government of the united arab emirates, specifically abu dhabi. larry: really? >> everybody is over there, they want to do a.i. they wanted to commercialize it. i put up my hand i'm in.

i'm doing that every there. larry: how about ending fossil fuels? >> we went down the road to dubay where this conference was and that's what happened. let me express something about conference. it was everybody involved in this whole thing from the accord is also there. it was packed. this company is making a big name fathering world leaders that statement by the way, is correct but he said more than that. which was not carried by the international press. they are the leaders in carbon sequestration. they're going to be the model for how this works. they're going to invest how you extract hydrocarbons and take out the emissions. he didn't get the press for that but the point is that is how these leaders, including exxon, everybody else we're in. we'll eliminate methane. we'll stop carbon leaking 990% of the it suppress it back in the ground. these people are leaders how we

stay in hydrocarbons as long as we need to and nobody picked that up. larry: through the use of new technologies? which bjorn lomb bothering and other sensible people have been saying year after year. you don't have to throw out the baby with the bathwaterrer. 80%, 80% of power around the world is fossil fuels. >> i left that conference realizing these guys have a roadmap. they got a plan. we should listen to what they're saying and do the same thing because they can keep energy security in their region. we should do it the same dough domestically here. we can equestionster the carbon, park it under north dakota. you know all about the salt caves there. we have the technology there i'm advocate for solving the transitional period so we can save space. britain is going to start drilling again. seeing what happened with ukraine they don't want to be

out of oil. larry: john kerry, another headline, john kerry calls himself a militant, demands, demands, kevin o'leary an end to coal plants anywhere around the world. i don't know if we have the chart on the full screen the biggest producer of coal is china. he doesn't say a word about china. that little blue line is china. and by the way the united states is way down there, yellow line. see how we're coming down, china is going up. kerry says he doesn't want any coal at all but he doesn't talk about china. which by the way china is financing the war in the middle east by buying iranian coal. just want -- >> over 200 plants they're building. they're putting up so many because it is great for electricity. they have electric cars they have electricity for. we can do the same thing with new scrubbers. we haven't built coal plants for so long because there is new tech. technology solves the problem, not just policy alone. let the private sector invest in

technology. right now there is amazing technology available for colburning and sequestering all the carbon. larry: if you blow up fossil fuels then this sultan is going to be right. we will go back to the cave era. that is just the dumbest thing imaginable. the least, wait, the greatest harm will come to the least prosperous country. >> you know i got to tell you when i heard him say that i thought he is sitting in my seat on "shark tank." he is, he is telling the truth and that's just the way it was. larry: bjorn lomborg, i want to quote bjorn, he was on the show last week, it is very important, no one ever does any cost benefit analysis. when the john kerries of the world say we have to get rid of all fossil fuels, each dollar spent will avoid less than 17 cents of climate damage. the undiscounted loss over the next century would be $1,800,000,000,000,000. that would be the loss to the world economy.

the world economy is only 100 trillion. so this would be 18 times. 18 times the size of the world economy would be the cost of eliminating fossil fuels. >> larry, the good news is, everybody has figured that out. they're starting to realize we need a long transitional tail. i think the leaders of this will be the big oil producing countries like the u.a.e. it is good news everybody is waking up and smelling the roses on this story. i think it is really important. the first time i ever seen a climate conference where the truth was spoken, people said we need a transition period. all of sudden they're starting to say let's do nuclear reactors too. let's get policy in place that keeps us secure with energy. i thought the whole thing was good news and frankly i couldn't believe how many people it attracted. it was packed. larry: i'll bet. one last thing, speaking of that neck of the woods, so opec plus has another oil production cut, maybe, voluntary, i don't know

but the interesting thing, kevin, is oil prices keep coming down, gasoline keeps coming down despite the fact they have cut about five million barrels per day. about 5% of total oil. oil balance supply and demand roughly 100 million barrels a day. they have taken out 5%. despite that oil prices come down, what do you make of it? >> i think people don't really believe when quotas are named, put out in the press. i think the market is very, very liquid based on demand. whether brazil joins or not the best strategy for any country is to be independent on energy period. larry: right. that is what we could have done. and should. >> we should of course but i think when you can get people listening to the ideas of using technology to make oil extraction safe, then you get policy that supports it. and who knows what happens in the election which is less than a year away. larry: indeed. >> this is going to be an issue. larry: can't wait. >> energy security is an issue.

by the way we have to fill up the reserves again a too. that should be filled up with domestic oil. why not? larry: brent crude was $78 a few years ago when somebody else was president, west texas, 73, the average was 40 to 50. you're right, why don't we produce more and add new technology? they're inventing new technologies to make it cleaner and then add nuclear. have the small modules, nuclear modules now. that is what kevin o'leary would do. would you invest in that. >> absolutely that will be a long-term strategy. oil will trade between0 and 95, watch this, larry, during the wheel election cycle. larry: wow. >> when it gets past 80, people get squeamish, shows up higher price four bucks in california. it is bad for policy when you have all sudden have so much volatility in the energy prices. i think the election will have a big issue around energy and you

and i will be talking about it for months to come. we are back in presidential election politics and policy. larry: love it. kevin o'leary, the best of the best. thank you, kevin. >> thank you, larry. larry: folks, coming up here on "kudlow," fox digital's brooke singman will give us a new report on new information on hunter biden payments to papa joe biden-harris? according to oversight chairman jamie comer. huh. we will see. then of course we'll talk some more, why doesn't the media talk about treating israel fairly? and then we'll have senator joni ernst. she will talk some about when we will hit back if we ever do for all these insults on iran. i'm kudlow. we'll be right back. ♪.

♪. larry: all right, so is there new proof that hunter biden actually paid joe biden from chinese money he received? fox news digital brooke singman is here with the details of a brand new, hot off the presses piece. what you got, brooke. >> reporter: how are you, larry? thanks for having me. hunter biden set up monthly payments to his father joe biden in 2013. those payments of $1380 from wasc-a, pc to biden's personal account. those transfers happened three times. once in september 2018, once in october 2018, and one in november 2018. the house oversight committee subpoenaed hunter biden's financial records and released this one today. committee chairman james comer said joe biden has been lying about his involvement in his family's business dealings. listen to this. >> president joe biden claimed there was an absolute wall between his official government duties and his family's influence peddling schemes.

this was a lie. president joe biden claimed his family didn't receive money from china. this was a lie. president joe biden claimed he never spoke to his son hunter biden about the biden family's shady business dealings. th now hunter biden's legal team and the white house's media allies claim hunter's corporates directly to joe biden. we can officially add this latest talking point to the list of lies. >> reporter: last week the committee shared an email with me from a bank investigator which raised concerns about a five million dollar wire hunter biden received from a chinese company. biden transferred $400,000 to his wasco pc account and funds were transferred to a business account belonging to james biden and later moved to his personal account. james biden then wrote joe biden a check for $40,000. labeled that as a loan repayment. comer says that is another

example of joe biden benefiting from his family's foreign business dealings. comer is leading the house impeachment inquiry against president biden and chairman jim jordan and ways and means committee chairman jason smith. the white house blasted the inquiry as baseless and denies joe biden had any involvement in his son's businesses. hunter biden has been subpoenaed and is expected to be deposed on all of this next week as house republicans consider whether to draft articles of impeachment against the president. larry? larry: brooke, you know the white house response of baseless, i think it is base full, but what i want to know from your report what comer said today, when was the original china deposit? before they went through all of this money laundering to get to joe and then called it a loan, okay, which is highly doubtful, when did china originally make their deposit for what we don't know but it looked like influence peddling. >> so there are multiple chinese

transfers and wire transfers but the one we're discussing is five million dollars in all 20082018 to hudson west account. he took the money from hudson because to the wasco pc -- larry: he was not involved in hunter's business, that is easy but he was not vice president then? >> no he was not vice president then. was a private citizen. jamie raskin who is ranking member on oversight committee, who is the leading democrat on the panel, saying there is reporting that the $1380 hunter was transferring to his father was actually for a car payment but you know what republicans are pointing to is the fact whether hunter is using this money for a car payment to the president or what, he is sending money from his business account where he is receiving funds from china. so joe can -- larry: joe should have never

said what he said he had no involvement with his son's finances but i still think the republicans have more dots to connect. >> they definitely do. they're continuing this investigation so we'll find out. larry: right off the press, brooke singman, nobody does it better, thank you, brooke, thank you so much. switching gears now, back to this whole iran business, if you will, my question remains, when will the united states hit back at iran which is causing nothing but trouble and mischief in the middle east. hamas yes but spreading to the houthis and lord knows where. we welcome back to the show iowa senator, joni ernst, member of the senate armed services commit teach. senator ernst, thank you for your time, ma'am. here we go again. every time you come on, we welcome you coming on there is a new attack on military assets and my point or my question is, you know, unless and until we use deterrents instead of appeasement some very patriotic

men and women serving in the u.s. armed services will get hurt very badly or worse and i just do not understand it? what do we hit back senator ernst? >> that's right, larry. thank you so much for having me. we have should be hitting back every time our troops are in jeopardy and are the target coming from whether it's houthis or whatever proxy group iran happens to be funding today, we should be striking back immediately. we have the means to do it. the president needs to give the authority to do it and that should serve as a greater deterrence than what we have right now but you know what? we should continue to build strength in the middle east and let iran know we're not going to be bullied by them, nor will any of our friends and allies. not only was the uss carney an object or their target but we had three as well other ships owned by many other nations that were targeted by the houthis out

of yemen as well. we all need to band together to push back against iran and their funding of proxy terrorists. larry: senator ernst it sounds almost quite but why don't we simply enforce the sanctions that have been around for sometime? you and i talked about this. i mean it, it is this quaint idea. look, mitch mcconnell, who i wouldn't say is some crazed right-wing hawk here, has said the same thing. he gave a very big speech a month ago or six weeks ago whenever it was, why shouldn't we interdict ships why shouldn't we impound ships? or senator, ernst, have greater use of force, let's bomb some oil fields for heaven's takes, that is their sewers of financing? >> absolutely. i actually press the administration on the very issue of sanctions. it is not just republicans, larry, senator blumenthal joined

me in the effort to push the president to enforce the sanctions. no reason we should allow iran to get away with selling more oil, exporting their oil. we should be interdicting that oil as it is leaving iran and then using that to fund our victims of terrorism fund here in the united states. there is so much that we should be doing. we shouldn't allow hostage negotiations, the releasing of billions of dollars of frozen assets, all of this, we need to be pushing back very hard on this administration. lord knows why they are doing what they are doing but it just enables the iranians to target our men and women in uniform. larry: senator, one last one, if you would, i know r working hard to fight this wave, incredible wave of anti-semitism and think you're using the education act or you're trying to use the education department. >> yes. larry: and remaining time, can you give us a look-see what you're looking up there?

>> yeah, senator bill cassidy and i are leading a group of our colleagues on pushing the department of education to investigate anti-semitism not only at our colleges campuses but also in the k through 12 education system and we're telling them if you don't enforce title 6 of the civil rights act we will take away your funding. so let's stop anti-semitism, that hate speech should not exist here in the united states. >> yes, ma'am. senator joni ernst speaking common sense as always, really. thank you very much for coming back on. appreciate it. >> you bet. thank you, larry. larry: you bet, anytime. folks moving right on here back to "kudlow," big question to our panelists when is the mainstream media going to start talking about the hamas atrocities such as brutal rapes of women and of course the killing of hostages? joining us now is mark simone, wor radio show host and joe concha, media and politics

columnist for the messenger and fox news contributor. gentlemen, thank you for coming back on. mark, the mainstream media turned against israel but they just won't report what is going on. dealing with hamas as it is some sort of reasonable, reasonable entity, which it is most certainly not. >> 2016 legislation they took the gloves off, totally went anti-trump. i figured it would just to slant the election. now they do this with anything, future of israel. you can't completely slant the coverage. hamas has killed six of the hostages. you don't hear about that anywhere. we have reports they're torturing the hostages. you don't hear about that anymore. the in fact the terrible conditions of palestinians they don't report israel got out of gaza since 2007. they have had nothing to do with running gaza. billions sent to hamas was spent on terrorist camps tunnels, weapons. nothing gets reported.

crazy students protesting against israel have no idea what is really going on thanks to the corrupt news media. larry: jo, i don't know if the crazy students had better information from the media would be any less crazy or not, i don't know that, but the media is not reporting as mark has said. for example, recently, it even hit the the white house press rm today, sex crimes and rapes going on by hamas. that should be front and center reporting and it is not. >> why is that? is it intentional or human error mistake? it is i think intentional. across the board as if a memo came out. cotton of fox news did a great report over the weekend. she went to the protests happening in new york like we see every day, around asked, what about all the atrocities that hamas committed on october 7th in terms of the rapes that you described, kidnappings, obviously slaughters, murders, the way they were done, most of the

people said they didn't believe the reporting, all that really didn't happen including the rapes. here's the thing, you don't have to believe the reporting. hamas, gladly and gleefully recorded doing this. this is overwhelming evidence by the perpetrators and people out there protesting saying don't believe your lying eyes. we don't believe the reports. it is not reports. it is video. out there, anybody can watch it, if you do, it is one of most horrifying things you will see in your lifetime. larry: mark, still, mainstream mainstream media uses hamas, whatever it is called, gaza health numbers as though they are true numbers which they are most certainly not. all the numbers of casualties and worse we don't know who is the terrorists and who is the civilians. that is not broken down. a lot of terrorists are losing their lives around i don't think that is a bad thing at all. >> if you watch the sunday

shows, the goal cease-fire, the goal is to wipe out hamas every trace of it. there is no such thing as cease-fire. the liberal mind, small guy, oppressed guy, big guy, they go on the side of the little oppressed guy, not realizing sometimes they are the evil once that has done something horrific. you can't always side with them. larry: is the whole media biased against israel, is that the long and short of it as you see it? >> if you're a professor teach a class in media bias and first part of your sill bus is october 7th, massacre and then reporting that went on after it, you give all the examples where the mistakes only goo in one direction, don't they? when that hospital was bombed 10 days after october 7th, we saw images of a destroyed building that was in another city and "new york times" tries to portray it that was the hospital that was bombed when the parking lot was hit instead, when they believed to your point the gaza health ministry where they say 500 people are dead.

this is maybe an hour after the explosion, and most of our media outlets said yeah, we believe you. how can you possibly count bodies that quickly? there is no logic being applied because they're blinded by bias we all just talked about. larry: i had another topic, why the democrats, this is from "axios," why the democrats won't talk about "bidenomics" anymore but that is a way too easy, way too easy for two tough pros like yourself. maybe we'll do that next time, why the democrats banned "bidenomics" from their lexicon. >> even too big after lie for joe biden. >> worst branding since coke. larry: joe concha, mark simone a very serious topic today. anyway, coming up here on "kudlow," my friend art laffer, the best of the best, are we headed for an election year recession? another consequence of. mike:s question mark?

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asking art laffer, former reagan economist and presidential medal of freedom recipient, author of "taxes have consequences." i'm glad you could specific that out. arthur, are we headed for a recession? a lot of nasty signs, index of leading economic indicators, ism manufacturing, a lot of things going the wrong way, what do you think? >> prices coming down of goods and services. there is a slowdown coming somewhere in the world. world oil prices are coming down. only thing moving in opposite direction a little bit is gold and cryptocurrencies. i think that bodes very poorly for the economy. larry: why is gold jumping up if inflation -- prices are still high, compared to three years ago. >> yes. larry: but the rate of inflation is easing down quite a bit and why is gold -- >> some prices are coming doesn't from their hives. that is true. gold is i think a harbinger of tough times, maybe military as well. it's not just the economy, gold. gold is a lot more.

larry: escalation in the middle east? >> escalation in the middle east and what's happening all around the world, ukraine. i mean i don't know how the russians are doing in ukraine it looks like they might be doing better which is really a shame. larry: could be. >> and the -- larry: but the index of leading indicators, that is an old-fashioned tool. it is down 19 straight months. that's a big number. the curve is inverted. i know you don't follow the money supply but the fed's balance sheet, the old monetary base, that's coming down as well. now those are fundamentals. you don't see much reference to it. but, i think that's fairly pessimistic. >> it is very pessimistic. when you look at policy mix, larry, you know, just taxes are going up, very sharply. because of price levels rising, which means that capital-gains tax ritz are much higher. the illusory capital gains just to catch up with inflation. you have underdepreciation for companies. you remember when the tax cuts and jobs act you had expensing

there and now it is going down with depreciation and that really does affect capital formation and growth and it is a very negative sign. larry: business, that is interesting you say, that business equipment investing is slowing for many months. >> of course. larry: that would tie in to that tax change. but you know, arthur, you ever and i talked so much in recent years, the gop if it wants to do well in this to defeat "bidenomics" they have to talk the language of growth and prosperity and convince the voters they will be, they will be the keepers of prosperity. i don't know. are they getting it done? >> no, they're not. one candidate is but the others are not. i mean if you look at the debates, you look what goes on, it should all be about economics. very seriously it should be about economics and it's not. they should talk about spending restraint, not just that bill or that bill but real spending restraint, tax cuts, at least not allowing tax increases to occur. cessation of tax cuts and jobs

act it expires. that will cause a big tax jump. larry: how about spend less, tax less, regulate less, frack more. >> frack more. larry: put frack more in there. >> not government fracking. let them do it on their own. they will do it on their own. allow them to have pipelines there is no reason why we shouldn't be producing -- larry: gop has to keep that up? >> but they don't do it at all, larry. they're not passionate about it. they're passionate about all these other things. we need them to be passionate about the economy. it is the economy as james carville said. larry: how about impeach -- >> no. larry: i want to impeach less. impeach less, tax less. maybe we'll -- >> that would be perfect. just, everyone should pardon everyone and let's have a free-for-all and run -- larry: i don't know about that i'm not ready for that. >> i would really love to see the president trump not faced with all these trials and all this stuff. it is irritating and

hunter biden stuff is getting -- larry: was trump the one exception that you were referring to? >> yes, of course. trump has talked a lot about economics. and more than that he has a track record, larry. if you look at the track record, "operation warp speed," how fantastic was that? tax cuts and jobs act it really, really worked. deregulation, you sit there, and then he supported, strongly supported price transparency for the medical industry. all those are very pro-growth, pro-economy, pro-society policies and -- larry: more of that. >> we need a lot more of that the others should be supporting that too but they aren't. i just don't hear them. it is not their message. larry: some day they will. >> they will. larry: if it don't it won't matter anyway. art laffer, best of the best, my dearest friend. look how much time you had. you had a whole message. >> my god, amazing. larry: i will be back with the rest of art's message [laughter].

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how much we appreciate. but most importantly, i want to thank you for your courage and bravery. wow. thank you. someone here who'd like to say something to you? oh god, you guys are awesome! someone has something they want to say to you. oh my goodness! how's it going? awe! so i will let you know how much appreciate it. how much we appreciate it! just feel honored, for everything you've done. thank you for myself, thank you for everybody. i get to live every day, you know, in peace because of you. a lot of people thank us, but we want to take the time to thank you, honestly, for giving back. and when you gave to dav, you are supporting veterans like dave and myself. so thank you so much. thank you, you guys are amazing. thank you. thank you.

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larry: again, i'll say the u.s. must stand. they must. and then let the idf take care of hamas. this story should work. then meanwhile, everybody's going to welcome liz macdonald