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tv   Varney Company  FOX Business  January 4, 2024 10:00am-11:00am EST

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♪ stuart: i don't see sixth avenue which much traffic on it. >> it's not christmas week but there is some volume. stuart: it is not pre-pandemic. midtown has not come back yet. 10:00 eastern, straight to the money please. show me the big board, show me the s&p and the nasdaq. we've got the dow up one hundred 32 points. have to find out which dow stocks are pushing up this rally. can see you 3 quarters of the dow 30 on the upside this morning, nasdaq still down 30 odd points. have we had 4% from the 10 year treasury yield? we were real close, 3.99%. that always upsets the nasdaq, the price of oil responding to the possibility of an expanded war in the middle east, $73 a barrel there.
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bitcoin recovering a little, back up to 43,700 as we speak. that's the markets and now this. in a series of events point toward the wider war in the middle east. iran is at the heart of it. on tuesday a top leader of hamas assassinated in lebanon. it is assumed that israel did it. wednesday two explosions at a ceremony marking the fourth anniversary of the droning of general solar many. the u.s. navy took on three gunboats attacking shipping dolly rainey and backed terrorists killed. hours later the us warned the houthis against anymore attacks on shipping. it was a final warning, don't do it because we are not going to take it and just this morning the us carried out a retaliatory strike in baghdad killing and iran backed militia leader behind recent attacks on
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us personnel in iraq. sounds like the end of restraint, sounds like biden is losing patience. he has bent over backwards to appease them all as. it hasn't worked. iran sees america as we contacts accordingly. when there are known consequences they've got to know our response to their hostility will be severe. they've got to know the price they will have to pay. a little history. the iranians took american double mass hostage in the 70s, they came back to america ugly when ronald reagan became president. they let them go because they were worried about what reagan would do. in 2019, donald trump droned iran upstairs chief, shut them down until biden reversed course and went back to appeasement. so we turn full-circle. it is a moment of truth. appeasement doesn't work, time to put them alls back in their box. will biden do it? second hour of varney just getting started.
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todd pyro with me for the entire hour, thanks very much. iran is at the center of this. in your opinion is a broader war on the horizon? todd:i don't think so because if anything escalated to the point a full-scale war was on the table i think the people in iran would overthrow the government because a war would be precipitated by the leaders in charge that are not popular, they wield power and crush their people. i think the people would rise up and demand democracy a bore but -- before a broader war. we have the capacity to go there, to create democracy where we want. we aren't doing it. iran, we are willing to let iran run roughshod but to your
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point in your "my take," if we ultimately exercise strength, i think iran will back down and if they don't, there people don't want to die. the rank-and-file person and iran doesn't want to die for a government that doesn't give them anything, subjugates of them. them. i think they would rise up. stuart: trump droned solar many. to politics, pure american politics. all members of the house republican leadership have endorsed donald trump. nikki haley just surpassed ron desantis international polling average, trump is running away with this thing. todd: in every state but new hampshire, maybe in new hampshire, somewhat of a 2-person race and the only way you get to a 2-person race in new hampshire is of christie supporters say he's got no chance of winning, we are all going to vote for nikki haley, then she has a shot of overtaking trump but this is trump all the way at this .110%.
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stuart: it could become a 2-person race in new hampshire. trump and haley? todd: it is closer in new hampshire than it is in other states and of christie supporters which are more numerous in new hampshire and have a tendency to agree with haley on some stuff if those votes ended up going to haley i think haley may have a shot because the gap is not as wise that is in every other state including i will. we will do you have the numbers in new hampshire? the spread between trump? todd: i don't have the numbers. there are many different polls but the polls we've been using this week, don't have the numbers off the top of my head but it shows haley a little closer than in other states. stuart: still miles behind. stuart: you are here for the hour you lucky guy. washington dc just green that a new mandate for electric vehicles. i want to hear about this. lauren: they are mirroring
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california, dc will have those 0 emissions standards in place by 2035, translation if you want to buy a new car in washington dc it must be electric by 2035. dc says costs are coming down, eps will be cheaper by $4000 than their gas equivalent cars. this is aggressive and might be challenged by the courts, congress because the house already passed legislation the challenges the epa's decision that allows california to set its own rules that so many states and districts follow. stuart: how do they know luxury cars are going to be $4,000 cheaper than gas cars? how did they know that? lauren: they say you will save $10,000 on the maintenance of cars. maybe in 2030, the wall street journal a few days ago did a huge exposé about how it's more expensive to get your electric car fixed because the mechanics don't have the parts, takes forever to get the part and
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they are more expensive. stuart: evr a bust, that's my opinion. back to the markets. still down, the nasdaq, one hundred 72 points up on the job. these three stocks adding 80 points to the dow industrials, they are all up, all down stocks, home depot, unitedhealth, goldman sachs all in the green and that's helping the dow significantly. look who is back after the holidays. the nasdaq had a stellar year in 23. what are you expecting for the nasdaq in 24? gary:i have one prediction. let me do how it finishes the year because you really don't know but i'm pretty sure when you get 10% to 15% correction, not because the world is ending but 40% and very narrowly in 2,023, there's going to be some come up, what you see right
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now, i'm not so sure, that's the 10% to 15% but you' re saying a little action in the grouping software and things like that, not very much under waited at the market going much more defensive into other areas right now. stuart: what is your big worry for the year? >> i say on my radio show i've never been more optimistic on the one hundred 50 million of us the go to work every day, do better for ourselves and family, but i've never been more pessimistic on them and you know what i mean by them. do we even have a border? the costs of all these people coming and his gargantuan. $34 trillion in debt which is going to $50 trillion and $2 trillion deficit and the head of the economic advisors came on tv this past weekend and said this president has cut the deficit, that is such a worry and it is because i am worried one day the bond market
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wakes up and says $34 trillion and the 10 year yield is at 6% or 7% and there goes your economy and your market. hope that never happens but it's economics 101, only says the more debt there is a the more lenders want as far as yield, so far so good hanging in but they don't care and we have $2 trillion yearly deficits as far as the eye can see. trillion dollars of tax dollars, precious tax dollars are going towards interest every year and they don't care, they shrug it off and i worry there's going to be one day we wake up and the bond market wakes up and then look out. i hope it never happens. stuart: it's been a long time since we heard the expression the bond market vigilantes. when they were active a few years ago they upset the whole financial structure, they really did. they come back again, that's a serious threat on the horizon. always great, thanks for being with us this morning.
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we will see you again. prosperity in 24 if we can get there. lauren is looking at the movers, please start with apple down another couple points. lauren: one weekend another downgrade this time from pipers sandler, worried about valuation of apple, it's too hot, iphone sales are too low specifically in china, they are giving apple a 205 price target down from 220. take a look at mobile, this is his relapse most valuable public company. they make autonomous driving technology down 25% losing 1/4 of their value. short of estimates, they 've got too much inventory. stuart: icy pallet on on your screen. they are still around? lauren: way down from when there were $170 a share but they are up 10% today. they have a partnership with tiktok so they have a dedicated
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space on tiktok called tiktok fitness, bernstein loves the idea, they predict palatine returns this year not biased selling all the expensive machines but by doing things like the tiktok thing, more content, more outreach. stuart: what's this about tiktok they want to grow their shopping business in america. how will they do that? lauren: i didn't know you could buy stuff on tiktok. they want to sell you more stuff, it's called tiktok shop. a lot of people like these influencers, trust them, engage with of them. those influencers often sell gadgets so you are buying stuff impulsively that they are selling. the gold is reportedly $17.5 billion in e-commerce sales in the us of this year so now tiktok wants to take on amazon. that are all chinese rivals. the other thing that shocked me
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is a lot of people say we are not comfortable being on tiktok but now we are okay to shop on tiktok? it's not going away. stuart: can you imagine banning tiktok nationwide just like that? i don't think that can happen. lauren: $17 billion in annual sales. stuart: millions of businesses which are run on tiktok. thank you very much indeed. next case. iran vows revenge after back-to-back explosions killed a senior hamas leader and more than 100 others in iran. are we headed for broader conflict in the middle east? on it. more than a dozen countries including the us issued a final warning to the iran backed houthi rebel group stop attacking international shipping vessels in the red sea or face retaliation. general anthony tat a on the escalating tension next.
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stuart: next picture on the markets, dow is up sharply, a good chunk of gain up 182. modern gain for the s&p, minor loss for the nasdaq. this just in. is really forces struck three hamas militants who were attempting to plant explosives. trey yingst is in southern israel, the latest from there please. >> reporter: good morning. it is day 90 of the war between israel and hamas and the is really military is releasing
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some new information today on their operations in the southern part of the gaza strip still focused around gaza's second largest city where israelis have some been going after hamas sales in guided missile units. we are reporting today, we could feel and see those airstrikes taking place on the outskirts, going after the tunnel system hamas is using to try and ambush is really forces. listen to the israeli chief of staff who had this to say about the coming months. >> translator: we look ahead and we are going to change the defense, we are going to hold much more closeness in the borders for the next year. >> reporter: the israelis are drawing down some of their forces on the northern part of the gaza strip they are reinforcing positions on the northern border with lebanon. earlier today according to the idf is really struck a number of different hezbollah
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positions in southern lebanon following rocket fire from the lebanese militant group hezbollah. a lot of tension, israeli forces remain alert prepared for a variety of different fronts and we understand overnight there were more israeli raids in the west bank as israelis go after hamas and islamic jihad cells. blue one thanks very much. iran vows revenge after two explosions killed 100 people. it happened near a ceremony honoring general salomé. jensen are -- general anthony tat a is the author of total empire. do you want a clash with the iranians? is that an american interest to go away with them? >> it is in america's interest to deter iran. this administration is in the mode of appeasement and deterrence, they are fighting
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the sheer militia groups throughout the middle east, fermenting this unrest and terror whether it is israel or directing shipping lanes so what we need to do is be more firm, and for sanctions. stuart: we need to be proactive come militarily proactive. example, the us just carried out a retaliatory strike that killed in iran backed militia leader in baghdad who had been responsible for recent attacks on american personnel. isn't that a proactive step the it ministration is now taking? >> i think it's reactive to what has transpired, but yes, the offensive operations are required in the issue is whether we are going to continue to fight the sheer militia groups or take on iran directly and threaten their or your fields and nuclear program and that is the real question, what is the policy this
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administration has toward iran macro and they are fermenting this unrest in the middle east. stuart: how would we deter them? what would we do to deter iran? >> i think the big picture is that we could threaten their oilfields, threaten their nuclear programs. we have the capability to assess damage on their critical infrastructure and increase the pain until they stop, when you think about it, they are making billions of dollars annually with china selling oil to china and they are not supposed to do that. the sanctions are supposed to prevent them from doing that, likewise we paid them $6 billion for the six hostages and there are now more hostages being held by iranian proxies than the six that we freed. so this nonsensical policy, we
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have to translate that into something more firm and i would advocate something on that order. stuart: if we go after their oil facilities or their nuclear facilities, that really is an act of war. do you think america is prepared to go through with an act of war against iran? >> we are already at war with iran's proxies so how do you stop what is happening? we had the 80 second 8 it that - airborne division aviator wounded from an attack so how much are we willing to take. we neither need to get out of the middle east which is the uranian goal or establish deterrence and that is one method to do so. stuart: general anthony ta tabe. i read your book, pretty good. 's reclaims hamas's training children to help fight for their terror regime. what are they saying?
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todd: it underscores how sick and twisted the entire hamas crew's. is. the idf releasing photos showing child soldiers, think about that, child soldiers posing alongside hamas terrorists holding semi automatic weapons. the idf posting on x terrorism is not in it. it is learned, hamas has burgeoned children on the front line sending them to deliver messages with ammunition while its operatives hide in shelters. the idf claiming gazan children are taught in schools and summer camps that killing jews and israelis is justified. summer camps. they do that. stuart: thanks. mass migrant crossings stopped just as house republicans visited the southern border. watch this. >> you guys show up your, it's pretty dead. what are your thoughts on that? >> illustrates this could be turned off like a spigot at a time. we joked maybe we should make
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trips one so we can help solve this problem. we won bill melugin will bring the latest from eagle pass, texas momentarily. biden's department of justice suing texas over its border security law which allows police to arrest anyone crossing illegally. potentially it judges the power to deport. the governor of texas, greg abbott, is on the show next.
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visit coventrydirect.com. stuart: on the markets this morning the dow was up one hundred 80 points, nasdaq is down 23. i call that a mixed picture. looking at the movers, start with weight watchers. lauren: look at this, they are down, it should be 10% because eli lilly just launched a dedicated website that allows people to get their weight loss drugs delivered straight to their doorstep so look at that. eli lilly up two. 7%, weight watchers down 11%. stuart: tell me about dollar general please. >> reporter: barclay says it is time to buy them, they expected to return to normalcy for the inventory that they carry with supply chain that they use, raising the price target to
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154, the theme across retail for barclays is potential stabilization, that's good news. stuart: barclays has been making big calls, the guys who knocked out apple earlier this year. on the screen, lamb western holdings, who are they and why are they up. >> frozen food like frozen potatoes, one of their customers is mcdonald's, and raise their annual profit forecasts today because they feel they can charge higher prices so that's good news for the stock. stuart: thanks very much indeed. now take a look at this. a group of migrants were seen trying to cross the border into eagle pass, texas in front of 60 congress people who were there to witness the crisis firsthand. bill melugin has the latest. >> reporter: we learned the biden doj is suing the state of
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texas over sb 4, brand-new border security bill which would allow texas law enforcement to arrest, jail and deport anyone crossing illegally. the feds are saying it is unconstitutional and it has to be, part of their lawsuit reads texas cannot run its own immigration system. its efforts in truth on the federal government's ability to regulate the entry and removal of noncitizens, frustrate immigration operations and proceedings and interfere with us foreign relations. sb 4 is invalid and must be enjoyed. house republicans were in eagle pass yesterday. chairman mark green, they are having their first official impeachment inquiry into secretary mayorkas next week. congress and green said help is on the way for texas. take a listen. >> reporter: every state and city in this country is a border state but i want to say a special thank you to texas. you have borne the brunt of this and we, we will not let
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you down. accountability is coming i promise. stuart: meanwhile mass illegal crossings continue in arizona, we have a team on the ground late yesterday afternoon, more men from africa crossing illegally through breaches in the border wall, senegal, congo, liberia, guinea, other countries, other groups coming later during the day including more women, families, children and that sort of thing, we encountered a man from guinea on the other side of the border, begging border patrol to let him in. he had new york state id in his possession for some reason. listen to this exchange here. >> reporter: please, my brother, please let me in. i can help you. >> reporter: you can see what he's holding in his hand, that new york state id card. we don't know if it is real or
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fake, if it is his or someone else's or why he has it but we were told by sources the that man did cross successfully, illegally coming into luke is above bill. listen to these numbers, when those republicans were out here yesterday they said they got a briefing from border patrol and told by agents that the cartel on the other side of the river is estimated to be making $32 million every single week just here in the eagle pass area based on human smuggling. back to you. stuart: next ordinary number and great report, thank you very much indeed. congressman andy biggs trying to shut the government out of lawmakers don't get a deal to close the border. watch this. >> no more money for this bureaucracy until you've brought the border under control, shut the border town, shut the government down. >> it is pretty dead. what are your thoughts? >> illustrates this could turn off the spigot at any time.
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maybe we should make congressional trips once a weekend help solve this problem but it shows you that the cartels and mexican government. stuart: governor of texas greg abbott joins me now. it is not your call, but would you approve of shutting the government down to secure the border? >> the negotiations taking place between congress and the president concern the president's efforts to try to secure borders of other countries across the world. the president has a constitutional obligation to protect the american border. the president is not doing that. the president has open border policies that are destroying the united states of america. congress has a unique opportunity right now to hold the biden administration accountable and make sure they step up and secure the border so i strongly support the move by congress to pass laws that
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will stop this flow of illegal immigration into the country. stuart: remain in mexico, bring that back, if you don't get that back the government shutdown, you okay with that? >> remember this, four years ago, we had the lowest illegal border crossings in 40 years because donald trump put in place four policies, remain in mexico policy, title 42 policy, the end of catch and release and building a border wall. that is what must be done, going back, it is congress, not the president that has the constitutional responsibility and authority to regulate immigration. congress has passed laws that could stop the flow of illegal immigration in the country right now. president biden and secretary mayorkas are not applying those laws and that is why texas has
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taken matters into our own hands and building our own border wall. the national guard down there building razor wire barriers you shown on your screen that are repelling and turning back migrants who are trying to get into texas illegally. stuart: the doj is suing you, suing your state over your new border security law, allowing police enforcement officers to arrest illegal migrants and maybe judges could deport them. what's your response to the doj suing you for taking action on the border? >> it is outrageous because the thing about the simple fact is we are involved in three legal actions with the biden administration right now where the biden administration is trying to stop texas from denying illegal entry into the country. here's the point. if the biden administration would put that time into securing the border as opposed to stopping texas from securing the border, we wouldn't have a problem but because president
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biden and the democrats refused to secure the border texas has and we will continue to erect barriers, repel migrants as well as bus and fly migrants to new york, chicago and other places like that. stuart: how much is this costing you in texas? >> this has been a burden by texas taxpayers. a member the wall donald trump put up, we are putting a wallop like that, walls and barriers like that are not cheap but nor is it cheap to deploy thousands of national guard to the border. the point is since president biden has taken office texas taxpayers have borne the brunt of about $10 billion in cost for texas to do the federal government's job to secure the border. stuart: some of the mayors, sanctuary city, they blame you for what's going on, blame you
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for the migrants going to their cities. you are smiling but would you like to give a response? >> they should be embarrassed to. utter hypocrisy. for one, all these mayors are mayors of sanctuary city, we sent them migrants and they are complaining about it. it shows the democrats truly are a party against illegal immigrants except when it is confined to states like texas. what we are doing, small little towns in texas like del rio in eagle pass have no capability of dealing with these illegal immigrants and that is why we are sending them to new york, chicago, et cetera and it is stunning that these mayors are blaming me as opposed to the president of the united states because it is the president of the united states that has the authority to fix this like donald trump was able to fix it.
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stuart: great having you on the show, appreciate your time, thank you, see you again soon. let's show you what's coming up on the show. people who stopped taking ozempic regain more weight than they originally lost. does that mean you take it for life to keep the weight off? mark siegel, doctor mark siegel in the next hour. billions of dollars on office buildings need to be done, risk of defaulting, banking crisis coming, we have the report next.
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stuart: big us office buildings facing billions of dollars
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worth of debt that comes due this year. that will be tough to repay bearing in mind the high level of interest rates. come on in, tell us how bad it is. >> this could be commercial real estate's biggest crash since 2008 and could cost banks $160 billion. the mortgage bankers association says one hundred 17 billion in mortgages tied to offices need to be repaid or refinanced this year. 40% % of buildings with mortgages expiring soon will have trouble refinancing because properties carry too much debt or their rental performance is poor. this includes what was once known as sears tower in chicago which has $1.3 billion payment due in march. columbia, stanford and northwestern examine the fed's
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progressive rate hikes in 2022 for weighing down commercial real estate, the office vacancy rate reached 90% in q3 of 2,023, 4% of all loans and 44% of office loans or negative equity. this means current values are less than outstanding loan balances. 10 to 20% of all commercial real estate loans could default, that is on the low end of what the default rate was estimated during the financial crisis. residential conversions could be a tricky task for developers as they lack the plumbing to create kitchens and bathrooms for living. many jurisdictions require that homes have windows, many officers are designed windowless. stuart: thanks very much. what do you say about that? brian: to use the information she mentioned if your venture capital company you try to get deals on these offices, convert
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them into residential. get them in these things, make it vocal thing to do, you watch your profits soar if you do that because they don't need the office space anymore in these big cities, they need residential, the answers make it a cool thing. watch what happens. i'm serious. stuart: a lot of wild theories today. todd: i'm out of control. stuart: the new survey finds not just the workers who want to work from home. who else? lauren: i knew this all the time, they won't admitted. the managers. your boss wants to work from home more than you do. 68% of managers want hybrid arrangements a new year versus 48% of people that work for them. employees might be getting sick of the remote thing but managers want to work from home so badly that 52% said they would forgo a raise to get a
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four week - four day work week. -- four day work week. if the bosses want hybrid so much why are they pushing their staff to come in? the big boss, the ceo wants everybody in the office of the guy under the ceo agrees and tells the workers to come in. stuart: i think i followed that. everybody wants to work from home. i would like to. lauren: the ceos want everybody, want to they want to stay at home and why are they willing to forgo a raise? childcare. if you run into a problem, is more expensive than any raise you get after taxes, the higher rate. those managers have kids. that's why the number is so high. stuart: well done, thanks. now this. us boxing will allow transgender athletes to compete against women. is anyone concerned about safety cute brian kilmeade on
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stuart: 10:51 eastern time.
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the man on the right of the screen is brian kilmeade. listen to this. i know you are no verse about this. usa boxing updated the guidelines to allow biological males to compete against women but they must've had gender reassignment surgery and hormone treatment. this is a contact sport, not like swimming. is anyone thinking about safety here? >> the nuttiest thing ever. you would think these bodies what understand, there's women's boxing, there is women's flag football. i think will be a college sports soon. when it comes to women's wrestling it is women's wrestling. women around women, you should not be allowed to do this. it is dangerous. it is an actual assault on a woman. even if she is trained like an elite athlete to get in that ring, this is the craziest thing ever. maybe usa boxing's hope to get some publicity, they used to be the hottest thing with the 7016
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was sugar ray leonard or holyfield's team and 84, some of these great fighters that used to come out of there, boxing used to be an event to see, fighters to follow. maybe this is their way to get publicity, someone has to sober up and stop what is going to be a death in the ring. they shortened championship fight from 12 to 15 rounds worried about head injuries, they stop giving money, points for aggression because they thought boxing was getting too physical, made the sport boring, now they say i've got an idea, let's get a guy fighting a woman, who has gendered dysphoria and see what happens. better yet, trained that guy transition to be a woman and let him beat up on that woman. it is insane. stuart: of volleyball player was -- had her teeth broken, maybe it was a hockey game. brian: field hockey, in the teeth. stuart: because a rather
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aggressive transgender male just came on with of the strength. you are right, the same thing could happen in boxing, this is crazy stuff. >> it's not tolerance. tolerance, you are not playing, you're making these decisions, use it in your suit and go behind your desk with your pocket protector and to show how woke i am i will let people go fight each other who are trying to change genders, you try it. it's not fair to women who train round-the-clock, especially boxing. up for the morning you are running, never eat with the rest of the folks, never off, you're fighting every day to make a living or get that trophy, the gold medal and some what is going to waltz in and rip it from you. it is as if someone paid off the judges while putting you in physical jeopardy. stuart: listen to this one, the founder of lululemon slamming that company's diversity push, here's the quote, trying to become like the gap.
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everything to everybody in the definition of a brand is you are not everything to everybody. you've got to be clear that you don't want to certain customers coming in. i've never heard of retailer say you got to be sure you keep some people out, never heard that before. brian: the whole esg push to be socially conscious when you invest, the sanctimonious behaviors going by the wayside and now this type of marketing where you hurt your business model to be accepted by the golden globe crowd, i'm not sure but this whole thing, basically lululemon is for athletes and a lot of it is body hugging stuff that you look great in but i don't look as good in the so that is why maybe you could be a model there but his whole thing was chip wilson is his name. he is the billionaire founder running the company until 2,007, chairman of the board in 2013, he said the models wearing the clothes look
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unhealthy and sickly. that's not his image so why are you blowing up a successful brand that was cutting its way through the clutter. it makes no sense to me. there is no political correctness when it comes to success in business. stuart: so many areas where it feels like the world is turned upside down. you are all right, thanks for being with us. i want - thanks very much for your wild theories, thanks for sticking around for the entire hour and informing our viewers. will cane on claudine gay trying to be a victim of racism after being forced out as harvard's president. retired four times general jack keane on the expanding war in the middle east. doctor marc siegel on the health benefits of cutting out alcohol. the 11:00 hour is next. ♪
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you know what's interesting these days? bitcoin. look for bitwise, my friends.
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>> there's not going to be much of a difference a. student body that hates jews and going
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to tha

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