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tv   Varney Company  FOX Business  December 12, 2023 11:00am-12:00pm EST

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(adventurous music) ♪ ♪ ♪ be ready for any market with a liquid etf. get in and out with dia. muck life is a beautiful thing as a long z i hold the strings.
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stuart: frank sinatra, just for lauren, not for mike murphy. lauren: we were talking about italians in new jersey, here you go. from hoboken, new jersey. >> everyone's a giants fan today. stuart tiewfort it's 11:00 eastern, tuesday, december the 12th. straight to the markets. now we've got some movement to the upside. the dow is up 111, nasdaq up 34 points. new we have the big tech. let's see what's going on there. has that turned around? a little bit. we've only got one loser. meta, amazon, apple up, alphabet is down 93 cents. show me the yield on the 10-year treasury, 4.22. that's the yield on the 10-year and now this. at this point, president biden is underwater on just about every big issue, crime, inflation, the border, foreign policy, you name it. there may soon be another losing issue, scandal and corruption.
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hunter and impeachment loom large, just as the primary season begins. today the house rules committee votes on authorizing an impeachment inquiry. now, that is not an impeachment, but it allows further investigation, and who knows what that brings up. house republicans are likely to approve that investigation. articles of impeachment, that's an outline of the charges, could be filed by next spring. in other words, more details about biden family money will be spilling out as voters head to the caucuses and primaries. tomorrow hunter biden is supposed to appear behind closed doors to answer questions about the money he received from china and ukraine. he's so far refused. if he keeps that up, he could be charged with concept -- contempt of congress. so this week the scandals surrounding the president and his son takes center stage. this is the unlikely to help the president's campaign. you know, it must be frustrating for him to see donald trump go from strength to strength while he's being dragged into court. did you see this?
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a poll of likely republican voters in iowa gives trump 51% support, up from 43% in october. extraordinary. that is terrible news for biden, and now he and his son get hit with the slow drip of mounting scandal. is this the last straw? maybe senior democrats who are nope to be frightened by biden's unlittle about, maybe hunter and impeachment may be the excuse they need for a quiet chat. mr. president, it's time to move aside. third hour of "varney" starts now. ♪ ♪ stuart: joining me now, the chair of the house ways and -- the house judiciary committee, sorry about that, jim -- [laughter] >> that's all right. i've been called worse. stuart: i'm sure you have, jim jordan is with us. what will the impeachment inquiry, what will it do for your case, open up more
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information? >> yeah, and it'll give us access to the witnesses we need to depose here, the sort of final group of witnesses. most of them hunter biden's business partners, rob walker, jim biden, tony bobulinski, the guy who paid a couple billion in hunter's taxes, this kevin morris guy. we need these guys to come in a more timely manner if, in fact, we've done an official vote full house, on record saying we're in the impeachment inquiry phase of our oversight. stuart: so this information that you're looking for will come out in distributes and drabs. if you -- dribs and drabs. this information, very negative information, probably will be in dribs and drabs all through the next three or four months. is that what's going to happen in -- happen? >> well, no, we hope this is done by mid january. we've already talked to the lawyers for these individuals i just mentioned. we think they're going to come in, but we think it happens quicker and faster if, in fact, we have this official vet with
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the full house going on record. again, impeachment power resides solely in the house of representatives in our constitutional system, and so when courts say if there's some kind of dispute, courts will say, wait a minuter this is a power -- minute, this is a power the strictly the house has. hey, get those documents to mr. comer, as an example, get those witnesses in so they can be deposed if we have to go to court. just feel like it really helps us. stuart: do you think you've got the votes to proceed with an impeachment inquiry, you've got 'em, it's going to happen? >> i do, i think so because already the facts are so compelling. you've got the white house has changed their story multiple times, the justice department that changed their story multiple time it is, but the story that hasn't wavered, the testimony that has not changed is from the whistleblower. and their testimony has stood up. we've deposed eight different people now in the judiciary committee who were associated with david weiss' investigation of hunter biden, nub of them
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have refuted anything -- none of them have refused anything the whistleblowers have said, so we just need these last, final things to happen, and then we'll make a decision if we move forward with actual articles of impeachment. stuart: i'm sure you saw this, a new poll on iowa shows trump holding the gop lead with 51% of the support, desantis a distant second, 19, haley 16. >> yeah. stuart: the president, president biden, he must be really frustrated. he's dragging trump through the courts, and trump is rising and surging in the polls. finish mean while, biden and his son are about to be mired in scandal. that's an extraordinary jekyll that position, isn't it? -- juxtaposition? >> well, the american people have common sense, and they see what's happening to president trump, they see this is the government targeting their political option. -- opposition. i also think they just see the general picture. we went from a great president to one of the worst presidents i
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can, i've ever seen certainly in my lifetime. we went from secure border to no border, we went from safe streets to record crime, $2 gas to $4-55 gas, stable prices to record inflation. we went from a commander in chief respected around the world to joe biden, and then, of course, we have this weaponization of government against we, the people, as a evidenced by the censorship issue in the fifth circuit, that decision is now going to the supreme court. and then, of course, there's, you know, this other issue of whether joe biden was involved in his son's business dealings that i think the american people are looking at as a well. i think all that together is why you see the numbers where they're at. stuart: got it. jim jordan, always a pleasure. see you again soon. thank you, sir is. got it. >> you bet. stuart: back to the markets. mike murphy is with us this morning. is inflation under control? >> it is. i mean, let's hook at the data. the data tells you that it is, so we'll stick there. now, could something change? yes. for right now, inflation is heading in the right direction. stuart: but the core rate of
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inflation actually went up, and that's what a initially bugged investors. >> well, yes. but by one-tenths of 1%, yet it was in line, the overall picture that the big picture is still trending lower or, and that's what the fed is going to be looking at and what we, as investors, should be looking at. stuart: and as an investor, you expect prices to continue to go up, the market rallies as inflation if cools just a little and rates come down a little? >> inflation cools, if and when rates start to come lore, that's a huge push up for the market. so stick with the game plan we've had, stay invested, stay long. the fed right now, you have to -- we knock them at a times, but the fed has thread this needle. it looks as if we're going to get the soft landing a lot of people have talked about. stuart: santa claus rally, that's what you're talking abou- >> santa's here. stuart: it's started already. >> look at the scream. [laughter] stuart: i'm looking at the 10-year treasury yield down to 44.21. the other day it was at 4.13.
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>> it did. last week on thursday it got a little bit ahead of itself, it rallied back up. but whether we're at 4.13, 4.21, we were talking not too long ago about 5.5% and going higher. that's why you're seeing a lot of money come into the stock market, because a lot of people are realizing, okay, the 10-year's going where we we want it to, and that has huge implications throughout the economy. stuart: the dow now up 1222 points, a modest rally -- 122. >> we'll take it. stuart: orr oracle really is moving bigtime, it's off 11%. lauren: they reported another quarter of below expectation cloud sales. and if you add into that a bleak forecast about the pace of growth in oracle's to business that benefits from a.i., you've got a little bit of a problem. plus at least four broke rammings cutting their price targets this morning -- brokerages. stuart: investors want to see revenue enhanced by a.i -- lauren: the demand is there, they're unable to fill that
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demand. they haven't quite mobtized it yet. stuart: okay. zillow. lauren: stock's up 2.5%, and jfp says they're going to $of 0 -- 60 a share. they see pent-up demand for housing and increasing expectations that, yes, the fed starts cutting rates and mortgage rates come down in the back half of the new year. stuart: what about paramount? lauren: there are reports that shari redstone is considering a sale. met with activision as well as skydance media, and new paramount if is considering laying off more than a thousand workers. the stock is off 4.5%. this is for early next year. typically, layoffs push the stock price up because it's cost cutting. but i think this speaks to the weak environment, weak ad sales and what's going to happen to the company as well. stuart: all right, thank you. ubs teaming up with the nfl to give financial advice to players. the average length of an nfl career is only three years. i want to know where ubs thinks these players should be investing their cash when they
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get it for just the three years but they need it for a lifetime. san francisco spending $37 million to hire a nonprofit to lead their homeless outreach effort. the city already spent over a billion on the issue in 2021. is throwing more money at this problem the solution? the border at the breaking point. there are over 20,000 apprehensions over the weekend. , the hs says 5,000 illegals are being released into the country every day. the administration continues to ignore it. brandon judd is here to talk about the it and respond forcefully. ♪ ♪
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the mayor of eagle pass, texas, he's an end dependent -- independent, says he's being ignored by the biden administration. griff jenkins is there. what else did the mayor is to -- have to say, griff? >> reporter: well, stu, the mayor is upset because he feels not only abandoned by washington, but he feels this border cry -- crisis, he feels that they should help pay and help with the general resources. active right now, this is where the migrants are being processed, but in this ambulance right here a woman if venezuela has a fractured foot. she's in there. and so this ambulance right now is dealing with an injured migrant rather than possibly if a 911 call comes in for the residents of eagle pass. that upset ises him. and you can see a bus lining up here in this open area right here which is full of trash right now being cleared for yet another group, one of the largest groups i've seen down
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here on the border since i've been covering it, stu. i was here september, october, now in december. but noun the hill a thousand yards -- down the hill a thousand the yards we can go to the drone and another land-based camera showing you just how large this group is. they've just been let through a chain-link fence, and they're going the start walking up here where i am, and this is where they will be processed. already, stu, this morning in the last are hour and a half, two hours we had at least 500 migrants. agents tell me this tbrawp you're looking at down here along the river is upwards of 1,000. yesterday, in the last 24 hours in the sector where we are, there were 2200 migrants. they may easily eclipse that. it's not even 10:30 in the morning here. and so this is the crisis that's playing out as the senate decides they'll probably go home without a border deal. these agents are overwhelmed, some 50, 60 to 1 of my grants. go out to lukeville, arizona.
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we've got some images and some cameras out there as well. that is absolutely getting hammered. our cameraman telling us the morning group there was 600 or more. it's a haze, it's difficult, it's remote. looks like a scene out of an apom limittic movie, yet they keep coming. the situation is the cartel is cutting the fence there, cutting holes in it e where they're coming through, and every tame they repair it -- every time they repair it, they cut another hole. that's the situation back here in eagle pass where we're dealing with mostly venezuelaens. out there they're getting most africans. either way, both points of entry being hammered on this tuesday, stu. back to you with. stuart: it's just outrageous, it really is. griff, right in the middle of it. thank you very much, indeed. listen to what senator mitch mcconnell had to say about the border. roll that tape. >> this is what a crisis looks like. this is what the democratic
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leader spent last week insisting was extraneous to america's national security. well, mr. president, when it comes the keeping america safe, border security is not a side show. it's ground zero. stuart: national border patrol council president brandon judd joins me now. brandon, nothing ever gets better, it only gets worse. and, you know, most of the country doesn't know what's going on unless they watch fox. i think that's reality. >> yeah, stuart. right now i'm steaming. i'm so upset. when you look at the individuals, what was most important to me was to look at how many border patrol vehicle you saw there in eagle pass. we saw 10 border patrol vehicles. that means we didn't have any other agents patrolling the border in any other locations. the border was absolutely wide open. we can look at a the number of people crossing the border illegally and say, yeah, that's a horrible picture. but what we have to take stock of is we have to look at how
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many agents are actually patrolling our border, or are they performing administrative duties, taking these individuals into custody, processing these individuals. and that's what we're doing. that means our border is wide open. that means the cartels have control of every single area of our border because they know that all a they have to do is flood our resources in one specific location can like what's happening in lukeville and eagle pass, and that then leaves the rest of the border wide open. that's why this is such an important issue. that's why it's such is an important issue to national security and, unfortunately, we're going to see this play out over and over again, and we're going to pay for it sometime down the road. stuart are border patrol agents, they seem to be completely overwhelmed because of the enormous if numbers coming through. they're simply overwhelmed. is that accurate? if what's going on here? >> we are. we are, we're absolutely -- stuart, we're only deploying about 10% of our resources to the field. we've only got 10% of our resources patrolling the border. we should have 70%. in order to control the border,
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in order to be feltive, you have to have -- effective, you have to have 70% of your resources patrolling the border. right now we have 10. that means the cartels control everything. they're bringing in fentanyl, cocaine, they're bringing in aliens from special interest cups that want to do us harm. they're bringing in all of the dangerous products because we don't -- we can't patrol the border properly. and even if we were controlling it properly, it doesn't matter. this isn't a resource issue, it's a policy issue. if we want to stop these people from coming across our border, we have to have consequences. right now we're encouraging them. we're releasing every single one of these people into the united states. that's why they continue to come, that's why the cartels are successful in advertising their services. stuart: presidential hopeful nikki haley says that she would deport all of those who have come to this country illegally under president biden. is that feasible? is that realistic in 7 million people, can you imagine deporting 7 million? if i have a hard time with that.
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>> so what has to start is it has to start at first-in, first-out -- i'm sorry, last-in first-out. if we start taking control of our border, if we stop these numbers from coming in, if we deport all these individuals that come in today, then we would get until of our border. once we get control, then we can start looking at the interior, going after the criminal aliens, those aliens that we know are going to do harm to our country. but you've to the -- you got to start at the border, and she's right. president trump proved with policy we can control our ambassadorrers, we can go after the cartels, the profits. right now there's no turnover in the hierarchy of the cartels because everybody's fat and happy. what we want is we want a lot of turnover, chaos in the cartel hierarchy. right now that's not happening. we've got to go after the cartels. trump proved that we could do it, and we got control you were him. policy matters. stuart brandon judd, you may be steamed, but you make a lot of sense. thanks so much, brandon.
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>> thank you, stuart. stuart: the congressional hispanic caucus wants to meet with biden about the border or. ashley, do we know exactly what they want? ashley: well, these house democrats, hispanic and latino caucus can, worried that joe biden is going to cave on gop demands on border talks. the caucus apparently concerned that any compromises may affect issues deals with the dream -- dealing with the dreamers who say they've waited long enough along with the issue of work permits. democrats claim that republicans pushing for measures that are too severe and would do little to stop the ongoing border crisis. but hard-liners within the gop if are supporting a measure that would build a border wall and significantly tighten asylum laws. in other words, going back to president trump's border policy. stuart: thanks, ash. check those markets, please. a modest rally on all three exchanges. coming up, harvard's president, claudine gay, facing calls to
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resign, but the school just voted to keep her on. we'll tell you what harvard is saying about her. it's been one month since san francisco cleaned up their homeless problem for xi jinping's visit. now one business owner says everything is back to normal, and the crisis is worse than ever. we'll report from san francisco next. ♪ after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?"
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stuart: we're seeing green on the left-hand side of the screen. a troubling increase or uptick in core inflation. the market seems to have gotten over it. the dow is up 90 points and nasdaq up 33. mike murphy's still with us looking -- he's got stock picks and he's starting with oracle. you picked a fine day to like it. it's down 11%, so you're buying the dip? >> i don't own oracle, but i'm doing some work on it because i think hen you look at the cloud business of amazon, that's been the big push for these companies. oracle missed their revenue in that part of their business, their competing piece of business. if there's room for three companies there, and oracle is eventually the third place winner, they have elon musk's
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company onboard with them, if they do, i think there's a lot more upside. so i think it's something that bears watching here to see where it puts in a floor because if that business is going to work for them, there's a lot of upside in oracle. stuart: i never thought of you as a dip buyer -- >> i love dips. it's percent to buy on a dip than a rip. stuart: i'll remember that. home depot. >> they've had some issues this year and, you know, with mortgage rates going higher and concerns that people weren't going to buying or renovating their homes, here's home depot just a few points away if the 52-week high. if you look at this, you have boeing making a new high, home depot about to make a new high, i just want to point that out to people. not saying go out and today's the day to buy home depot, but to look you have strength in the economy, you have strength in underlying sectors. it's not just the big seven that we talk about all the time, the big tech companies. there's a lot of companies out there that are now performing that can and will push this market higher. stuart: thanks very much, mike
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murphy. i was confusing you with brian kilmeade. >> got it. [laughter] stuart: good person to be confused with. and brenberg too, that's right. retail theft soaring, some major cities seeing a spike in crash and grab robberies. is retail theft really stopping people from shopping? >> reporter: stuart, as far as we know, it's not happening just yet especially because many of these crimes like crash and grabs are happening in the middle of the night while people are not shopping. but we're told that retail -- [no audio] the fist half of -- [no audio] for example, just last week here on the magnificent mile -- [audio difficulty] a group of people -- [audio difficulty] lawmakers are hoping to come up with solutions during the house
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homeland subcommittee hearing today. executives from the national retail federation and the home depot are set to testify. home depot's vp of asset protection, scott is glenn, says the company has lost billions of dollars to organized retail crime. glenn says it isn't just targeting bug cities. the company is pointing to three reasons for the rise in crime; the increased presence of fentanyl and opioid use in u.s. communities and the need for far cash to acquire those drugs, plus a rise in third party marketplaces where thieves are reselling the item and, lastly, an increasing lack of law enforcement. >> anytime that you have, you know, a lack of consequences or an opportunity where you can get away with things without really the threat of being caught, that emboldens, you know, those bad actors to be out there. and as a result of that, we start to see some of that impact growing in our stores. >> reporter: glenn tells me that he's hoping today there
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will be some kind of legislation passed to get this crime under control, stuart. stuart: okay. thanks very much, kelly. we hear you. and it's been one month since san francisco cleaned up for the visit of xi jinping, and the city has already returned to drugs and homelessness. join ising me now is gym owner danielle ravkin. one month has passed since the cleanup. what's a it like now? >> it's recognizable, san francisco, same as before. anyone they pushed out of the important zones has just slowly crept right back in. so same -- business as usual. stuart: same number of homeless on the street, same -- different areas of thety? it's not just one area, the tender loin, it's all over the city? >> it's definitely much worse than the tenderloin, but it has sprawled all over every neighbor. there's no neighborhood that's not touched. stuart: how has it affected your business? >> it's tremendously difficult.
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i have vagrants lying in the front of my business all the time. it's unpleasant. people don't want to live here. i think that's the number one thing, potential customers and customers from the past have left. poem don't want to live in a city that's this expense i with such a low quality of life. nobody wants to dodge feces and needs on the sidewalks and expose their children to open-air intravenous drug users. really unpleasant. stuart: the city is. carley:ing spending $or 37 million on a nonprofit that would head a homeless outreach program. the city's already pent, what, a billion dollars since 2021, and the problem hasn't been fixed. do you think $37 million on a nonprofit is going to help? >> 37's a drop in the bucket. like you said, we spent a billion dollars. the city has a $4 billion budget. -- $14 billion. it's only 7 by 7 square miles. i don't know where this money's
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going, how it's getting spent, or but it's unfathomable that the problem is as bad as it is with the money that's spent. i don't understand it. i don't know if we need a federal audit or intervention or what the options are here, but it's just unthinkable that we have conditions on our street like this with this much money being spent. stuart: given your drutherses, what would you do to clean up the streets of san francisco? what policy would you employ if you could employ any policy to get rid of them? what would you do? >> admittedly, i'm not a policymaker, but what i don't understand is why we aren't building fema, red cross-style shelter beds. living on the streets isn't humane. it shouldn't be an option. these people, we can't build private rooms for everybody. it's not economically feasible especially in this city. you are, you can have a shelter bed, but you need to get off the street. it's not an option to pitch a tent and sleep on the street. it's not hygienic, and it's not right for the law-abiding taxpayers. stuart i think the aclu would
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have something to say about forcing people to live in a tempt. just a suggestion. danielle -- >> -- [inaudible] to live in tents. and the other thing that is absolutely wild to me is these tents obstruct entire sidewalks. businesses have to comply with a a da regulations, buildings, where's the outrage over tents sprawling over an entire block? i just don't understand it. stuart: what a mess and still a mess. danielle, thanks so much. we'll check back with you to see if there's any improvements in the months to come. >> sounds great. stuart: a san francisco supervisor, his name is dean preston, he blames capitalism for the city's homelessness and drug crises. ashley, tell me more. ashley: yeah. this explains a lot as to why san francisco's been blighted by crime and chaos. democrat socialist supervisor dean preston, indeed, claims the city's homelessness problems are absolutely the result of capitalism and is counterproductive to i arresting
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people openly doing drugs. that doesn't work, he says. preston's district 5, no surprise here, includes the tenderloin district where nearly half of the city's homeless population live. but he's also a doubling down on calls to further defund law enforcement in san francisco saying the police budget is bloated and full of waste. three months ago tesla ceo elon musk claimed that preston was probably the person, quote, most responsible for the destruction of san francisco with with preston responding, quote, it's no surprise that a right-wing billionaire like musk doesn't like me. i'm not sure too many people like mr. preston based on what he's done to the city. stu. stuart: got it. thanks, ash. shohei ohtani got a record 10-year, $700 million contract with the l.a. dodgers. it's the biggest deal in baseball. huh does it stack up to oh pro athlete contracts? -- to other pro athlete contracts? a new study shows that a
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shocking number of students are suddenly getting as at ivy league universities. is it because these schools are offering more courses on things like gender studies? a few report next. ♪ what we need is adult education. ♪ back to school is a bad situation ♪
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stuart: ivy league schools are under fire yet again. this time they're aused of boosting grades -- accused of boosting grades. grady trimble is with us. how's it done, grady? >> reporter: stu, they're just giving out a lot more as than they used to even compared to just a few years ago. take a look at these numbers. back in the 2010-2011 school year, 67% of the grades yale
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gave out were as. now that number is nearly 80% according to data from the university published by the student newspaper. same goes for harvard. their student paper reports as used to make up ant 60% of -- about 60% of grades back in 2010 now it's, again, nearly 80%. both schools saw a significant increase in a grades during the pandemic, and it stayed that way. here's what one yale student told "the new york times." if yale and other ivy league institutions start getting these reputations for grade inflation, students who are already feeling pressured to get i these high gpas will then feel that their work is sort of devalue ised. this, obviously, doesn't help, the student said. so you can hear from him and other alumni they're worried if so many students get as and have high gpas, it cheapens their degrees. so this is just another concern at some of the most prestigious universities in the country as they also, of course, stu,
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grapple with anti-semitism the on campus. stuart: grady, we got it. thanks very much, indeed. mike murphy's still with me. that's the whole point, isn't it? everybody gets an a, and you devalue the grade in the first place. >> that's where with it starts. also if you look at these schools, once they became woke, once they wanted to pass on, this idea that we're to going to give things to people not based on hard work, i think everything changed. and this is just the result of that. so we need to go back to rewarding people for hard work. not everyone gets a prize because they participated, but the first place gets -- wins, gets the trophy. and that's how this country was built, and there's nothing to wrong with that, with coming in second place or last place for that matter. but you should get an a based on your work and your knowledge of the subject matter. and if you don't put in the work, you should get a d or an f. and until we get away from this wokeness where you're going to give them credit for something they don't actually deserve, that's hurting them and hurting
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all of us in the long run. stuart: it is, indeed. ash, come back in here, please. what's the latest from harvard. >> will the president be stepping down? >> apparently not. following a board meeting, harvard president claudine gay will keep her job despite the enormous backlash and calls to resign over her testimony in that congressional hearing about anti-semitism on college campuses. in the aftermath, more than 7000 faculty members -- 70000 faculty members -- 700 faculty signed a letter and received support from harvard's alumni association. and then the harvard corporation released this statement saying, quote: we today reaffirm our support for president gay's continued leadership of harvard university. our extensive deliberations affirm if our confidence that president gay is the right leader to help our community feel and -- heal and to address the very serious societal issues we are facing. by the way, we should mention g
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a ay has also faced allegations of plagiarism in her academic work, but she has responded saying her work has always a been to the very highest act a dem ec standards -- academic e standards. stuart: the movie leave the world behind has jumped to number one on netflix. ashley, this is the obama movie, isn't it? they produced it, didn't they? ashley: yeah, they certainly did. and it's their very first movie here, as you say, an apocalyptic thriller released just four days ago. it's about what happens when the electricity mysteriously goes out. it's the number one picture in the united states, and 85 other countries. the movie, co-produced by the obamas as you point out and their higher grounds production company, it was founded back in 2018 and according to the company's web site, it's designed to, quote, tell powerful stories and entertain, inform and inspire while elevating new and diverse or voices in the entertainment industry. i have not seen it. i don't know about you, stu.
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stuart: i have not seen it, but i wonder if mike murphy has and what do you think about it? >> i haven't seen it yet, but i think it's really interesting. the former president is getting producer credits for this movie, and some of the lines in the film and some of the underlying storylines of the film, i don't think, are befitting of a former president. i think it's very concerning that this is a message that president obama wants to give out. stuart: you've not seen the movie, but you've heard or the critics of it. >> not so much critics, i've read a what the movie is is about and certain lines from the movie. and i think whether it's people supporting it or not supporting it, i think some of this message is an extent coming from president obama. so what is that message. stuart: okay, we hear you. we'll take a look at the dow 30 stocks. have a look at that. the majority are being bought. in other words, the price is going up. we've got the dow up 118 points,
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and that's the state of play among the dow 30. there's this, ubs just signed a deal with the nfl to provide financial advice to current and foreman players. coming up, we're talking to a former nfl player who is now a financial add a -- adviser and ask him what kind of advice he he gives to highly paid athletes. ♪ give me two undefeated teams or a cross-town rivalry. ♪ maybe a small town school hungry for bragging rights ♪ : s) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪
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i suffer with psoriatic arthritis and psoriasis. i was on a journey for a really long time to find some relief. cosentyx works for me. cosentyx helps real people get real relief from the symptoms of psoriatic arthritis or psoriasis. serious allergic reactions,
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severe skin reactions that look like eczema, and an increased risk of infections, some fatal, have occurred. tell your doctor if you have an infection or symptoms, had a vaccine or plan to or if ibd symptoms develop or worsen. i move so much better because of cosentyx. ask your rheumatologist about cosentyx. stuart: we compared shohei ohtani's record $700 million contract to some of the other biggest sports contracts ever. ashley has the numbers. what have you got, ash? ashley: well, it's interesting, the monster deal that catapulted the jalapeno these player to the top of the let's -- japanese player to the top of the list, but let's look at it, shall we? number two, cristiano ronaldo, the portuguese soccer star signed a two-and-a-half year deal worth $536 million, two and a half years, to play in vape e ya. nfl quarterback patrick mahomes of the chiefs signed a 0- year deal worth $450 million or $45
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million a year. at number four, another soccer star, $436 million over just 2iers -- years -- 2 years. again, saudi arabia. and if basketball player mike trout, he signed a 12-year deal worth $426 million or just a paltry $34.4 million a year. stu. taw stuart my next best is a former nfl player who now gives financial advice to current players. he's with ubs, and wally joins me now. okay. i think you've got a very difficult job, because the average length of time for an nfl career is three years. so you've got to cop slips these guys -- convince these guys to make that income spread out over the rest of their lifetime. what do you tell them? >> well, i think, you know, number one, first, thanks for having us. with ubs, we're ebb extremely excited by having this new
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partnership. i think the fist thing athletes need to understand is three and a half years is a short period of time, and the truth of the matter is they should be thinking about what's next -- [audio difficulty] you're still in your early 40s, maybe late 30s, and there's still a whole life ahead of you. so for us, we want to discuss about what's next, whether it's philanthropic or business, entrepreneurship, they may want to start. but i think the key for these young players is to start thinking early on that nfl does stand not alone. stuart: how do you stop them from spending? someone who's not use to a lo9 of money, sudden is. ly comes into a lot of money, your first urge is spend it on whatever you want to spend it on. how to you convince them the save and invest? if what do you tell them? >> that's one of the biggest dilemmas that we have as financial institution with younger players. you know, you come into a locker room, and the veteran players
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have the lamborghinis and the nice cars in the parking lot, and the urge is to go out there and spend immediately. but what i do tell these young players, you know, it is good to treat yourself, but ultimately we have to have a plan to make sure that your lifestyle, we're able to sustain it throughout a period of generations. a lot of these young players are going to have generational wealth, and without a plan if is where you see the headlines of athletes going broke. so we tell our guys and young ladies that they need to have financial mans, and that, for me, is the beginning of the conversation. now, making them go through with it, it's a little more muscle than just talk -- [laughter] stuart: got it. >> wally, thanks for being on the show today. come back and see us soon. love to see what you say to these guys and whether it e works or not. thanks very much. what advice would you give to an nfl player? >> having known a will the of people who played in the nfl and
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played with a few in college, the biggest thing they can do is find somebody who's already where they want to be, somebody who's successful. not necessarily the tom bradys, but somebody who's had a decent contract and been able to build a life around that. i think the concern is if someone's going to maker as wally pointed out oring or generational wealth, there's plenty of people who help him manage that, and he's going to be fine with a huge contract. but it's the guy guys who are there for three and four year withs that i think are the issue. they need to learn how to do they continue to earn money after their career's over. is that through investment properties in is that through having a side business? you can't say i'm 27, i made a little money for three years in the nfl and now i have generational wealth, because you don't. you need to earn money. stuart: got it. thanks, mike. time for the tuesday trivia question. here we go. how many states did the u.s. consist of in 1900? 36, 39, 42, 45? what's your number in the answer when we run.
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stuart: away we go. we asked how many states did
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the us consist of in 1900? ashley? ashley: not a clue. i will go with 42. number 3. stuart: murph? >> i'm going to say number 4. 45. stuart: i will say number 3, 42. this is 1900. the answer is 45. murphy got it right. 45. oklahoma, new mexico, arizona, alaska, hawaii were the last five states that joined the union in the twentieth century. in 1900 there were 45. >> i will go first next time. ashley: thank you. it would help. stuart: hope to see you again soon. "varney and company" is done for the day. coast-to-coast starts now. brian: fury on college
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