names is ridiculous. to your point, you and i discussed who would thought j.j. would be quit to start to cut rates. he is not. he made that finally. liz: he is not ready to declare victory and say we're on track for a soft landing. but listen, kenny as we watch the markets, the dow looks close to session lows, you have 10 seconds down 315. what happens tomorrow? >> you know actually i think tomorrow there is a little bit more pressure. if we close on the lows today, close on the lows today you get a test tomorrow. i think initially we get a little bit of a selloff tomorrow morning. [closing bell rings. liz:] kenny polcari our friend always. the markets in the red. they don't like what the fed had to say. we have sigh work swoosh sky works solutions ♪

larry: welcome to "kudlow," save america, kill the bill. the senate bill on illegal immigration. we got a rare apology from meta facebook ceo, mark zuckerberg. we'll have ted cruz weigh in on that and more in a few moments. all the economic forecasters and all the economic models in and out of government top to bottom have been completely wrong. kevin hassett and art laffer are going to talk about it, maybe figure out what to do next, plus some politics you don't want to miss with our pals joe concha and mark simone and then mr. wonderful, kevin o'leary, if all that weren't enough, kevin o'leary is going to tell us how to make money, lots, and lots of money. can't wait. first up let's head to the white house where our own hilary vaughn is standing by. hilary, what is being cooking down there? >> reporter: hi, larry. well the white house is getting frustrated with republicans in the house. they think that gop opposition

to some of these leaked details in the border deal could effectively kill the president's strategy to use congress to address the border crisis. so today the white house is calling them out for it. >> i'm going to be very clear here, house republicans are actually getting in the way. they're not part of the discussion. they're not. they're not part of trying to figure out how to go come to a bipartisan agreement. we would like them to be but they're deciding not to. it is on them. >> reporter: also happening on capitol hill today a big hearing with major tech ceos from social media companies, meta, x, tiktok and snap. lawmakers say social media use is killing our children and proliferating a deadly mental health crisis. republicans and democrats drilled into these ceos, even at one point demanded they give an apology to the parents at the hearing whose children are no longer alive. >> would you like now to apologize to the victims who have been harmed by your product? show them your pictures. [applause] would you like to apologize for

what you've done to these good people? >> [inaudible]. that your family investigation suffered. this is why we invested so much in new industry efforts to make sure that no one has to go through the things that your family had to suffer. >> reporter: the white house is rallying behind efforts on capitol hill to crack down on social media companies and actually put restrictions in place that would protect children online from exploitation. >> we think congress has, has a place here to act, to move forward with legislation to strengthen protections for children's privacy. we think that they can do that to protect the health of kids, to protect safety online for children, they can act. >> reporter: larry a lot of these platforms have bragged about the accounts they have taken down, the offending content they have taken down, the big question is taking down someone's account enough of a punishment? the other question is, should

these social media companies ultimately be held liable criminally responsible for what happens on their platforms? larry. larry: we'll see where all of that leads. thank you very much, hilary vaughn. we appreciate it as always. >> reporter: thank you. larry: folks a couple thoughts from me, i will begin with this, save america, kill the bill, save america kill the bill. i'm talking about the senate bill on illegal immigration. there is no legislative text yet but leaks are telling the story of some kind of a trigger system whereby if 8500 illegals arrive at the border in one day or 5000 illegals arrive for seven days in a row somehow joe biden and alejandro mayorkas are going to quote, close the border. really? if they were going to close the border they would have already closes the border but they're not going to close the border, not you no, not in the future, not because of unnecessary legislation because they believe in open borders without any

clear national bondaries. one big global community. we're all friends. we don't mind another eight million or so illegals coming into our country. so laws, no rules, that is the biden vision. not a very good visions, is it. speaker mike johnson exactly right he talks about zero tolerance. among the many catastrophes linked to the illegal immigration catastrophe is a migrant crime wave that is sweeping the country. i'm quoting from "breitbart"'s headline, sanctuary cities and their sub wishes are experiencing a crime wave by migrants who are released by the biden administration after illegally crossing the border at the ports of entry. police in the chicago area, new york city, reported significant increases in crime related to migrants relocated to their cities, end quote. so i will say, while joe biden

isn't personally responsible for every lawless act, you reap what you sow. a pair of new york city police officers allegedly attacked by migrants in times square over the weekend. incredibly the subjects were released without bail. reported migrant related crime in chicago and its suburbs daily. health care company kaiser, now telling its oakland, california employees not to go outside for lunch. stores closing all over the country because of blatant smash-and-grab theft, carjackings have become commonplace. here is a terrible story. a career bureaucrat who worked in president trump's commodities futures trading corporation was carjacked and shot as he pulled up to pick up his wife after work. this is in the middle of downtown washington, d.c. fortunately, blessedly, he is alive at this moment.

we don't know if migrants were the cause but washington has become a lawless sanctuary city, an absolute disgrace to the entire country. big city democratic mayors and blue state governors are now complaining about it early about the illegal migration problem. of course they want more money to solve it. but there is a much simpler approach. just close the border now. build trump's wall. go back to trump's "remain in mexico". a tough policy on catch and deport. and then, and then, start backing the long blue line of dedicated cops throughout this country, stop burdening them with massive paperwork like new york city. stop criticizing them publicly. start putting law and order back into other political vocabulary.

doesn't matter what the trigger is, 5000, 8,000, whatever thousand, if joe biden were going to close the border we would have already closed the border. if joe biden were going to back america's great police forces, he would have already backed america's great police forces. so i conclude, save america, retire joe biden. that is my riff. now, for more on all of this we bring back our great friend, texas senator ted cruz. thank you, mr. cruz. we appreciate it. look i know your position on this senate legislation but again i just say this, i don't want triggers. i just want successful campaign as you probably do, "remain in mexico," build the wall, catch and deport. this whole story here, what do we need more legislation for? it isn't going to be any good. and you know, you know that joe biden and alejandro mayorkas

will not close the border, i don't care if it is 5000 or 8,000 or whatever thousand, you know this, senator. that's why this is such an exercise in futility. i'm sorry, you're here as the guest. you talk, please i'm too excited. >> listen, larry, you're exactly right. every word of your opening remarks were exactly right. larry: thank you. >> one of these days you will say something i disagree with but it hasn't happened yet. larry: thank you, sir. >> look you focused on how this crisis happened. joe biden inherited incredible success. he inherited the lowest rate of illegal immigration in 45 years and joe biden deliberately caused this crisis. you put your finger on the three decisions he made, all in his very first week in office that caused this crisis. he immediately halted construction of the border wall. he reinstated the disasterous policy of catch-and-release, and he ended the incredibly

successful "remain in mexico" agreement and that took the lowest rate of illegal immigration and it caused it to explode. we now have the highest rate in history, 9.6 million illegal immigrants have come into this country and joe biden wants it. it is deliberate. he could fix it tomorrow if he reversed those three decisions. he is not willing to. you're also right on killing this bill. we had vigorous debate at lunch with senate republicans. i stood up, i urged my colleagues, look this is going nowhere. in order to any bill to pass it has to pass boeing houses of congress. the speaker of the house says the senate bill is dead on arrival. it has no chance of passing. i asked my republican colleagues why are you putting forward a bill that doesn't fix the problem, doesn't secure the border but that gives democrats an excuse to do what you just played karine jean-pierre is doing, we would fix the border but republicans wouldn't pass

our bill that wouldn't fix the border? it is ridiculous. it is playing in chuck schumer's hands. we need to demand, fix it, solve it. i tell you one way only way to solve it throw joe biden out of office around elect donald trump in november. we know that president trump saw this problem before. he will do it again. i worked hand in hand with him when he was president the first time. i will work hand in hand again with him again to fix it again. larry: he will start day one, senator. >> yes. by the way your collaboration with president trump both then and now is a very welcome development and everybody will benefit from that. senator cruz, let me just, i want to clear the decks on that terrible immigration story and the lawlessness that goes along with it. i just want to note this, it is now four days, roughly 96 hours since the iraqi-backed militants attacked the u.s. base in jordan

and three troops were killed and i don't know, countless, several dozen, almost 40 or so were injured. it is four-days, senator cruz. so far we have heard nothing from the white house on what they're going to do, and maybe more importantly, we have seen them do nothing, nothing. no actions have occurred. they should have taken action inside of 24 or 48 hours. >> yes. larry: military man after military man came on this network, fox news, fox business, and said you know, maximum two to three days. we have not struck back yet. i see dithering. i see us sending the wrong message. four days after these three military troops, reservists from georgia have been killed and coupleless others have been injured. this is an outrage, senator cruz, this is an absolute outrage. >> it absolutely is. joe biden is a weak commander-in-chief. he is unwilling and unable to

stand up to our enemies and the result is every serviceman and woman in america, defending america is at greater risk. we've seen servicemen and women killed, whether the three killed by iranian proxies or the 13 killed in afghanistan with biden's disasterous withdrawal and surrender there. we've seen joe biden's weakness. to be clear, iran has launched 170 attacks on u.s. forces with joe biden as president and biden has dithered and done nothing. not only that, he is not just dithered and done nothing, he has funded the regime that is attacking and murdering americans. under joe biden this administration has flowed over $100 billion to the ayatollah who chants "death to america" and weakness is provocative. our enemies are stronger and to give you an example of it, look, joe biden inherited peace and prosperity across the globe. every region of the world is

worse. every enemy of america is stronger and america is at greater risk. to give you an example of that, iran is stronger, china is stronger, north korea is stronger, venezuela is stronger. putin is stronger in russia. just last week, what did joe biden do? he announced what i call the vladmir putin subsidy from joe biden which is he blocked future exports of liquid natural gas, which means europe has to buy from russia instead of from america. it hurts jobs here and it helps putin but this is an example of biden's weakness of making us more dangerous. larry: inwas just going there. one area that biden has not dithered on, putting a pause or a hold on any new lng installations which we desperately need, not only damages our domestic economy and its security, it damages our national security. now interestingly, senator -- >> yes. larry: there was no dithering on that.

he came right out with it, made no bones about it, and broadcast it to the world. no what we'll do to iranian-backed militants or iran, no what we'll do to close the border, gee, whiz, golly, let's stop lng which is such a boon to our economy, to our jobs, to lower energy prices and to our national security so as you say we can stop backing russia and iran on those things. just remarkable to me how mistaken their priorities were. last one, you were in the hearing today, i believer. zuckerberg, meta. >> yes. larry: he apologized and so forth, what do you make of that? is anything going to change? >> look i think big tech does enormous damage to this country. this hearing was focused on the damage to kids. i will say as the father of two teenage girls it is horrifying the garbage that gets shoveled to our kid. every parent i know is worried about the garbage being sent to our kids. you know, i asked mark zuckerberg, i put up fork, a screen that they had come up on

instagram that said, you are searching for child pornography, would you like to proceed to the results or not? and i asked him, what in the hell are you doing encouraging, facilitating pedophiles and people that are seeking out child pornography? big tech unfortunately keep making the decision to put profits above the welfare of our kids. we need to do a lot more to protect our kids online. larry: i agree with you. somehow there have to be guard rails here. i don't want to destroy our tech companies because i would rather we still had these american tech companies and they're not being used. >> yeah i agree. larry: the other thing i want to ask you about, this is a vexing problem, we just have a minute. we took this up in the trump administration, what to do about tiktok and bytedance in china. communist-run company. there is massive evidence that all the personal information flows right back into beijing and so forth.

i know millions and millions of kids look a the darn thing but the fact of the matter is, we're just helping the ccp. we're not helping our kids. we're helping the ccp. i give you a last thought on that? >> well, you're exactly right. one of the people testifying was the ceo of tiktok and i asked him exactly that he number one confirmed, bytedance, the parent of tiktok it is governed by and subject to the chinese intelligence law that requires them to obey the chinese communist government. larry: yeah. >> that requires them to lie about it. i also pointed out why is it that tiktok gives chinese kids math and science videos and educational videos, limits the time it can be on yet american kids it is feeding far badge and self-harm and suicide and substance abuse and pro-hamas propaganda? they are deliberately undermining the children of america. i think it is dangerous. larry: yeah, you're right. we got to figure out a way to go after that one. anyway, great senator ted cruz.

great pleasure to see you. >> thank you, larry. larry: you bet. coming up here on "kudlow," this is interesting, tongue-in-cheek but it is a serious matter, all economic forecasters, federal reserve, congressional budget office, "wall street journal" survey, blah, blah, all the forecasters and all the economic models have been wrong. that's all. almost no one expected a strong 2023 or at least a strong second half of 2023, no one. so the question is, what are we going to do about it? the answer is we'll talk to kevin hassett and art laffer. all that when "kudlow" returns. i'm sure you can hardly hold your breath but the models have to be fixed! i'm as guilty as anybody. we'll be right back. ♪. ( bell ringing) customize and save with libberty bibberty. liberty bushumal. libtreally blubatoo. mark that one. that was nice! i think you're supposed to stand over there. oh am i? thank you.

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down 317 points. s&p off by 79 the nasdaq falling 345. though the move was expected it was what federal chair jay powell said afterward that sparked selloff. he said the fed is not ready to reduce rates until there was great confidence that the inflation was moving sustainably towards the central bank's 2% target. they priced in the markets as many as seven cuts through the year. you can see the problem there. we've been talking about google and microsoft for example, plunging on mounting costs for artificial intelligence. larry. larry: that's terrific. thank you, gerri willis, we appreciate it very, very much. all right, folks, let's jump right in, we have kevin has it, former chair of the council of economic visors during the trump administration. hoover institution, author of "the drift," stopping america's slide to socialism. art laffer, former reagan

advisor, presidential medal of freedom recipient and author of "taxes have consequences." i will begin with my dear friend kevin has it. we kibitzed a little bit about this. i will put the fed thing aside. there is no reason for the fed to cut interest rates. i don't know what the market is thinking. moringtryly, more importantly, from top to bottom, federal reserve economists, cbo, "wall street journal" survey, philadelphia fed professional survey of forecasters, nobody got 2023 right around nobody expected a 3% plus growth rate in the second half of 2023. this is after 550 basis points of interest rate hikes. this is after the fed is pulling back on bank reserves and the monetary base and the money supply. we were supposed to have had either a big slowdown or a recession, exactly the opposite happened. all right? i'm not even looking at this

left versus right. this is something for the economics profession to sort through, kevin hassett, former cea chair. everybody got it wrong. by the way i will raise my hand, i said either a big slowdown or a recession. i was wrong. that's all there is to it. kevin, what the heck happens next? >> well, i'm thinking about what happened 30 years ago because you know the problem with economics, right, you look at the past data and then you assume the data generating process for the past works going forward but what happened 30 years ago, just about exactly 30 years ago was netscape introduced this web browser thing and it was 1995 and the web browser thing made it so that the internet could suddenly revolutionize america. and what happened next the economy kept surprising on the upside but there were five years in a row where the average return on of s&p 500 was 30%. i'm beginning to think the artificial intelligence

revolution will have the same kind of impact the internet did. i think there is interesting interview by my colleague at stanford in "the ft" talking about his estimate of brought activity, he is the guy who knows this a.i. the best, he thinks productivity might go up three percent a year over the next five years or so because of a.i. i think that could be what is going on. there is surprising productivity from a.i. he has some specific case studies i will finish, where he shows within a month or two of a.i., firms are seeing 10, 20, 30% productivity increases. that is something i've not seen in my lifetime. larry: it is interesting, i will give some credit where credit is due, i follow ed yardeni, i follow a lot of people, ed hyman is dear friend, ed yardeni was in the soft landing camp or no landing camp he probably talks about a.i., he does cite a pickup in productivity but art laffer, let me come to you, i don't think that would explain all this incongruity that all

the forecasters were wrong. monetarists were wrong, kensyians were wrong, phillips curvessers were wrong. fed tightening by any yardstick what happened. the economy got stronger. 2023 was a very good year. 2022 was not a good year. first half of 22 was negative gdps. inflation comes down, the economy goes up, the fed's tightening doesn't seem to have mattered arthur. what happens here? how are adjustments or maybe nobody shut listen to economic forecasters anymore? >> i would rather watch a weatherman myself, larry. before you get football loons, the streamers and party horns, i mean this economy is not a great economy, it really isn't. yes we had nice growth this last year. yes inflation did come down but the stock market today is the at same level in real terms as it was in march of 21. the participation rate is 62 1/2%, which is really, really

low. i mean it was like 67% when clinton led office, left office. our gdp growth has not caught up to what it was pre-pandemic. the worst one of all, life expectancy is down about three years which is really bad when you're 83 like i am. i really count on the life expectancy not going down, i want it up. look it, this economy is not in good shape. it really isn't. the only thing that is really doing well is immigration. it is hitting new highs every day. we must be attracting people really well with our economy. no, seriously this is not a great economy. 3.1% growth, given the pandemic, given what had happened is not great. now i don't do the forecasting like you guys do, i probably would be worse than any of you but it's really a secular problem we have here in the u.s. and that secular problem is not improving. that's why everyone, and i mean literally everyone, look at median household income, if you want to see something terrible?

what you guys did in the trump administration, went way up and came way back down again. larry: let me raise, look, there is still an affordability crisis. we looked at it again. real average weekly earnings since biden has been president down 4 1/2%. actually fallen 4 1/2% a little more, 4.6%. >> yes. larry: tip which is the most accurate poll, issues an insights tip poll, let's see, nearly 2/3 of people say they live paycheck to paycheck. below $70,000, 6%, even making more than $70,000. let's see, 44% either have zero or less, zero or less than 1000 bucks in their bank account. in other words nobody has anything in the way of emergency savings. so they're living paycheck to paycheck. 24% have zero in the bank. of course real wages are falling. so i know it's not great but you

know, kevin hassett -- >> it's not. larry: i do think the economics profession, we'll get john taylor on, one of the deans of he profession, the profession needs to look in the mirror to fick it out. there has to be an explanation. i'm not being partisan. i know lefty bloggers are on my case because i thought the economy would be sluggish or recession and then i admitted it was strong and they got on my case for admitting. i don't care, i'm a business host. but the fact of the matter is i'm not interested in left versus right. i'm interested, kevin in the last few seconds here, what went wrong? >> right. well i think that what happened 30 years ago was we had all this data where there wasn't an internet. all of sudden we kept getting surprised on the upside. i agree with art there is a lot of bad looking data out there, but i think we'll keep getting surprised on the upside because the productivity boom eric sees

coming is palpable in the data. larry: we'll leave it there, pray for productivity. no problem, art laffer, kevin hassett and the economics forecasting profession, bye-bye. anyway coming up next the the bn border catastrophe, the biden crime wave. why is the guy running again? we have joe concha and mark simone to try to explain it to us. all that when "kudlow" returns. even the stock market is turning down now. not good. res nolt. get help with j.p morgan personal advisors. hey, david! ready to get started? work with advisors who create a plan with you, and help you find the right investments. so great getting to know you, let's take a look at your new investment plan. ok, great! this should have you moving in the right direction. thanks jen. get ongoing advice; and manage your investments in the chase mobile app.

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featuring a robust growth strategy that aims to double its mining capacity while accelerating gpu-on demand business. hive digital technologies. ♪. president biden: done all i can do. give me the power, i asked from the very day in office, give me the border patrol, give me the people, give me the judges, stiff people people that can stop this to make it work right. larry: yeah, well, sorry, joe, if you did all you could do you would have closed the border already and would have stopped the crime wave and other problems as well. anyway, let's talk, we have joe concha, media and politics

columnist from the messenger, fox news contributor, mark simone, wor hall of fame radio show host every day from 10 to noon. >> yes. larry: thank you. got to get that right. mark simone, why is joe biden running? he can't seem to do anything right, seriously? >> i would not call that running, i would call it hobbling. crawling. he lies all the time. give me power over the border, there are 17 places in the conetution give him power over the border. border patrol agents one of big lies, he, he took the border patrol agents have them in processing centers doing processing. he wants more border agents to increase the processing. put them back on the border patrolling this is absolute mess. they used to say the economy stupid. everybody is saying it's the border stupid. larry: can i follow through on this, joe. be with you in a second. >> sure, take your time. larry: we have tape of this

horrible new york police department, two nypd guys, mugged or whatever, look at this by, these are illegals, and if this weren't bad enough, instead of standing up for it, nobody stood up for these cops. so far as i know the mayor hasn't said a word about this, but they were released on their own reconnaissance right after, yes, bad, i'm sure they were charged with a felony i think but they were released, right away. i don't think there was any bail set. they were just released. now this is the worst part of this story. and it is in new york. it is in long island. it is in chicago. it is in chicago suburbs. it is in california, all these sanctuary states. i want to put this up there. this has become a law and order, and no one is backing the long blue line. this goes back to, you know, a couple years ago, everybody was attacking cops. no one is back the long blue line the way they should.

>> no, in chicago 40 people formed a gang robbing stores. in new york they have identified 100 migrants who formed a pickpocket operation. tough skill to learn. you have stuff like this going on. one reporter saw five people a day are killed by illegals in the united states. that's a lot of people. again they're being released. we have these crazy district attorneys. got one in new york, put in there by george soros. the governor won't remove him. we have 26 of those in the united states put in by george soros. bad d.a.s. larry: joe, i said at the top of the show in the riff, you know, i said we've got to put law and order policing back into our political vocabulary. it has been taken out. now i can't -- joe biden is not responsible for every individual crime but you reap what you sow and the border is what he sowed. >> he sowed it in 2019 during a primary debate where he urged illegals to surge the border.

that is an exact quote. that was the cue. that is when they started coming in. as far as the president saying congress needs to act. congress needs to give me the tools to stop this, at last check, nancy pelosi was in charge of the house for the first two years of this president's presidency. they also controlled the senate. they could have passed whatever they wanted to then and they didn't this is all intentional. bottom line joe biden is polling 18% approval, "abc news poll" on the border. it is a number one issue. you tell me why that matters? well in swing states, a poll out today from morning consult, joe biden trailing in georgia, arizona, north carolina, wisconsin, michigan, pennsylvania. if he loses all those states you're talking about a reaganesque type of landslide. larry: it is incredible. speaking of landslides, another subject, so nikki haley, our friend nikki haley had fund-raisers in new york city

and she raised about a million 1/2 bucks which is really a drop in the bucket. meanwhile very interesting report on another network's news but paul singer, huge political giver and he brings with him a big crowd of donors, they did not start with trump but trump's campaign manager, suzie wiles, spoke to them and they are now moving in trump's direction. so this is a big turn of events. the donors are really not shelling out for nikki and they're getting ready to shell out for trump. >> that is the thing about these donors, they will back you like crazy until they see the way the wind is blowing. tomorrow night a event in mar-a-lago a lot will be showing up, those donors, worming their way into trump world. the donors always back the wrong person and dessert them.

larry: nikki haley -- >> 45 points. trump has endorsement of sitting governor, both sitting senators, popular republicans like nancy mace. the headwinds against nikki haley who seems to have lost any momentum she had going into new hampshire because she still lost by double digits, she is out. we'll have the longest, longest general election she is son of all time. no super tuesday. none of the fun. we go right to biden versus trump. all the speculation around if biden will be the nominee. larry: what will we do? it will be horrible. >> talk business. larry: in a pinch we can be a business show. i know you want to talk vice president. >> yeah. larry: now the conventional wisdom here, political science textbooks all the rest, the veep candidate doesn't really matter. now you think this year will be different. it will really matter. tell us why? >> because donald trump if he wins will be a one term president.

two years after november of 2024 that election cycle starts. who is the front-runner? almost always the vice president in this situation. so who he chooses here very well could be the 48th president. on the democratic side your vice president is currently kamala harris where 22% of independents, basically one in five could see her taking the reins as president right now that is a horrible number there is no confidence in her whatsoever. who trump side who he decides to pick could very well be the next president. if joe biden forewhatever reason, he decides he doesn't want to be president anymore, kamala harris is your alternative. that is donald trump should be driving home, that is the alternative. larry: mark. >> vice president won't get you vote but it can lose you votes, kamala harris. trump needs black candidate, woman, i like byron donalds. sarah huckabee. larry: you don't care about someone qualified do be president? that is a trick question? >> okay, okay.

you can't take a legislator, sarah huckabee, not a lot of experience but governor. >> tim scott. money. larry: give you another shot. bidding contest. 44 i got to get out. >> i say vivek. not ready. he will go to the cabinet. larry: we'll wait and see. >> i hope it is not you. larry: it will not be me. keeping my thoughts to myself right now, mark simone, joe concha. what is the name of the new book? >> progressively work. why today's democrats are not your daddy's donkeys. larry: mr. wonderful, kevin o'leary is coming up next. we will come up next to teach us how to make money this is business show. he will teach us how to make money. we have to get through the next nine or 10 months folks. it will not be easy. i'm kudlow. we'll be right back.

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larry: so go figure, a delaware judge is voiding elon musk's 56 billion-dollar pay day. well, our own lydia hue is here with the details. lydia, thank you. >> reporter: you're welcome, larry, my pleasure. it was an unusual decision and some unusual quotes from the judge. she quoted from "star wars" in her decision saving that her decision dares to boldly go where no man has gone before. she decided elon musk's compensation package which she

notes is the quote, largest potential compensation package ever observed in public markets, she says it was unfair to shareholders. musk's pay was established back in 2018 and it provides him no cash and offers instead stock options each time the company hit a series of escalating operational and financial goals. now when the package was approved tesla was valued less than $60 billion. to reach all the goals the company needed to hit a market capitalization of $650 billion. larry, which it did in 2022 but one shareholder only just nine shares challenged the package claiming the goals were easier to achieve than the company disclosed. the shareholder also alleged that musk exerted too much control over the compensation decision through board members who he maintained close relationships. tesla defended the compensation package saying it sent nice musk

to invest attention in the company, to grow the business. that growth they say delivered value to the shareholders. take a look at this just the pastfy years, the share price up well over 800%. here's the take from entrepreneur and former gop presidential candidate vivek ramaswamy. >> so i'm hopeful that the delaware supreme court overturns this, not for elon's sake, elon will be the fine either way but for the sakes of capitalism, that the boards make the right decision instead of gave behaving like a bunch government rats kratz. >> reporter: i reached out for tesla and musk's attorneys but have not heard back. larry: lydia got it right. thank you for a great report, we appreciate it. all right, folks let's bring in mr. wonderful, kevin o'leary, chairman of o'leary ventures, "shark tank" investor, author of cold hard truth on business and

life. kevin, elon musk met all his targets. he doesn't get a salary and why are judges telling the board, the corporation what to do, that is matter of corporate governance? vivek is right, you will throw capitalism out the window if you let a bunch of bureaucrats run the show. what do you think? >> i actually agree. this should go to the supreme court to be challenged. shareholders made an 800-x on this. they agreed to the package in the first place. he is proven himself to be extraordinary individual. yes he is controversial. think about what this man achieved in early career, mid career now. no one has done what he has done. whether he pursues the tesla robot, brain implants or spacex, or done with space internet connectivity for the globe, why would you want a judge a single individual to decide what that is worth to society and shareholders.

that is everything that's wrong with bureaucracy. so i hope it does get challenged. it's not about the money. he is extremely rich already. larry: yeah. >> you want to align yourself with shareholders. that is all he has done. don't give me cash. give me no cash. i will grow the business, and make money when you make money that is the essence of capitalism. we should applaud it, support it, protect it. larry: spot on, kevin o'leary, spot on. the stock market sold off this afternoon. the federal reserve says no to the market, you will not have six or seven rate cuts. in fact there may not be any rate cuts, that's a possibility. everybody is hanging on to your every word. they want to make money, kevin o'leary. what should folks do? >> market turned on a specific answer to a question on rate cuts in march. powell made it certain no chance, that's not going to happen. so you know, if you're in the camp that see as minimum of three rate cuts you will have the same policy right now past march, probably into the summer. that was the disappointment.

market has been still buoyant but everybody is starting to realize hanging off ever word he has march is not in the cards for 25 or 50 bps. not going to happen, larry. i tell everybody get over it. this is an interesting time. this is election cycle. there wail be a lot of volatility and powell is pretty happy what he achieved so far which is basically a soft landing to date. larry: i know. all the forecasters were wrong, myself included of the it is actually not even a landing. it is a strong economy and profits are going up. there is no reason for the fed to cut rates. i got 15 seconds, stay in the market, that your advice? >> yes but start looking at states, new states. i just did a tour of the competitive states. i started in oklahoma, north dakota and now, see the pin, west virginia. when is the last time we went to west virginia, larry? larry: i will go with you. west virginia, it is closer than north dakota. we'll go to have a road trip. kevin o'leary, best of the best. i'm kudlow.

we'll be right back with my last word. thank you, kevin. of elegant small ships ♪.

larry: so illegal immigration and waves of lawlessness, sorry to say it, but they are closely realitied. save america -- related. save america, kill the bill. and stay up late to watch lizzie macdonald. elizabeth: you're the best, larry. kill the bell is right. shut the border no. we're staying on the story. thank you so much, larry. let's bring in forme