tv Varney Company FBC March 22, 2024 9:00am-10:00am EDT
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constitutional very rule of law, this is a very big historic moment we should all be frightened by what if a democrats are doing. maria: kellyanne conway. kellyanne: big story don't loss sight we still don't have answers about biden crime family more evidence, of corruption now than you ever had a russia collusion donald trump, on truth social calling this election interference many will maria: we is so appreciate your time. join me tonight on maria bartiromo's wall street at 7 p.m. eastern with my exclusive interview with house oversight committee chairman james comer. have a great weekend, everybody. "varney & company" picks it up. ashley, take it away. ashley: good morning, everyone, indeed. i'm ashley webster in for stu today. let's get to these markets and the fed rally.
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my, oh, my, all major averages looking to end the week with gains of more than 2%. right now just slightly lower to flat if across the board on the dow, the s&p and the nasdaq. let's take a look at the 10-year yield which had been move being ever so slightly lower, still the story. down 4.9 basis points at 4.21. meanwhile, let's take a look at the 2-year yield. the treasuries have been moving slightly lower. everything is very muted on this friday. everyone's taking a breather, i think. the 2-year down 2.5 basis points at 4.6%. and what about bitcoin? yep, also a losing ground, down just over $1,000 at $64,375. all right. as always, there's a lot happening on the political front. the clock is ticking the for president trump to secure a $454 million bond. new york attorney general letitia james already laying the groundwork to seize some of his assets if he doesn't come up with the money.
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now, take a look at this shocking video shot by the new york post. more than 100 migrants rushing our border, tearing down razor is wire and knocking over national guard members. shocking video. this as the migrants try to force their way across the border. we are going to talk to a texas sheriff who says we no longer have a u.s.-mexico border, it's now a world border. plus, a new study reveals that loneliness is worse for older adults than alcoholism, obesity and even smoking up to 15 cigarettes a day. good thing we have a doctor in the house. dr. marty makary is here on that. it is friday, march the 22nd, 2024. "varney & company" is about to begin. ♪ ♪ ♪ friday night, here we go.
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♪ we we got no control, no control ♪ ashley: we look at a sunny morning in midtown man at hat tan and the street, well, they're very quiet on this friday -- manhattan. a lot of people working from home to finish off the week. we have to begin with reddit this morning, popping nearly 50% in its trading debut. good morning, lauren simonetti. why is reddit down this morning? lauren: because it had such a strong day buy. good morning. it closed at $50 a share with a valuation of $9.5 billion with. we can't forget it's unprofitable, and it has been for almost 20 years. but the encouraging news is the freshness of its information. basically two decades of human experience documented on its forum and categorized for the use of a.i. training. so if you look at it like that, reddit is actually an a.i. stock.
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ashley: very good. we'll follow it, of course, when the markets openif under 30 minutes. as we look at the markets, moving slightly lore, perhaps taking a bit of a breather after a very strong rally. mike lee joins us this morning. mike, great to see you. the dow closing in on 40,000, s&p and nasdaq seem to hit new highs every week if not every day. i mean, does this rally have legs? what would stop it? >> yeah, so is, you know, you would need some sort of exstrong now event at this point meaning something unforeseen, some data point that's way out of consensus that says inflation all of a sudden goes from a little over 3% to 5% in a job war, something really bad would have to happen, some sort of massive accounting fraud. so i don't see that happening anytime soon, and typically when you see this amount of strength, so we're up almost 28 from the if october -- 28% from the october lows, 21, one of the best 2- week rallies -- 21-week
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rallies we've ever seen in the market, and from there strength almost always beif gets more strength. -- begets more strength. and to me, what is the most remarkable thing about this market rally is expectations for fed rate cuts have gone from 6 to 3, and that 3 is a shaky 3 at best. ashley: yeah. >> and we still continue to have this strength, so i don't see this stopping anytime soon. ashley: yeah. you know, those expectations coming down certainly haven't taken the wind out of the rally. i wanted quickly to mention bitcoin to you with, mike, because in your notes the number that stuck out to me, you say it could go 200,000. when do you think that could happen? >> so i think somewhere with between 12 and 24 months from now. and and that is the history of the cycle is that you triple the previous cycle high. i think the weakness we've seen is there's a lot of liquidations going on in the gray scale bitcoin trust because that's where a ton of the assets where
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ftx, the defunct currency exchange where sam bankman-fried's going to jail for a long time, the recovered funds was parked in that etf, that fund. and as that fund is being liquidated to pay out the victims, it's putting a lot of pressure if on bitcoin. but the flows on a daily basis into the new etfs are outstripping new supply. that's going to comet. we have the halving event which is going to cut the new supply if dramatically coming up in late april. ashley: right. >> so, look, i'm very bullish on this. we have $2 trillion deficits as far as the eye can see. you have the government trying to seize assets can -- ashley: right. >> -- from a former president. what else do you want from it? ashley: exactly. 200,000. mike lee, terrific stuff, sir. thank you so much is. appreciate it. by the way, monday is donald trump's deadline to secure that a $454 million bond many his new
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york civil fraud trial, so what's the latest on this, lauren? lauren: trump is posting. he claims he has the cash, and he he put this up just moments ago on truth social. quote, i currently have almost $500 million cash, a stable amount of can i -- substantial amount of which i intended to use in my campaign for president. the often overturned political hack judge on the rigged and corrupt a.g. case where i have done nothing wrong knew this, wanted the take it away from me. so he is saying it's political and that the a.g. has filed judgments in westchester, new york. that is site of his golf club and his silver springs estate. that's considered step one, if you will, ash, in this effort to take back his e assets. there could also be a lien on assets or a move to foreclose. but if that doesn't shock you, this might. a e tired federal judge, barbara jones, was first appointed monitor of the trump option ooh's accounting, this was two years ago, she's going to stay in place for an additional three
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years. so he's being baby stepped. let's say he wins in november. he's going to have a babysitter of his finances for, like, his entire first term. ashley: who would want to do business in new york? that's for sure. lauren, thank you very much. now this, the biden campaign has a new nickname for donald trump as he lags behind in fund raising. they are calling him broke don. david avella joins me now. of david, good to see you. all right, what do you make of the biden can campaign or reporting to name-calling -- resorting to name-calling? >> [inaudible] to have a memory lapse that he said he was going to bring civility back to the national discussion, that he was going to restore a civil discussion. that's the first thought. i'd also add though let's keep in mind that hillary clinton outspent donald trump by double and and yet with he still won. and it was very competitive in
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2020. so certainly you have to have enough money to get your message out, but you don't have to have the most money which really goes to what this campaign comes down to. if you're the trump campaign, the messaging is simple. the border is in chaos, you're paying -- paying more for everyday items under joe biden than when i was in office, and you reelect me, we're going to have the job growth and the income increases that we had during my first term. that will get a lot of folks saying i want donald trump back in office. ashley: talking with -- trump apparently has formed a joint fund raising committee with the rmc. i guess the big we question here, david, is can he catch up to biden in donations. >> he can. let's keep in mind that a we're with now learning that his truth social may go public which would create for him $3.5 billion. he would have every dollar he wants to put in a presidential
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campaign if that transaction occurs. money will not be the biggest issue. i mean, you think about in general elections for president earned media and the news coverage has as much impact as the tv ad as. i mean, i'm sure, ashley, you are looking forward to lots of television ads on your screen this year -- ashley: oh, yes. >> one more negative ad a, right? [laughter] but if there's one less one, that doesn't have as much impact as many would believe. donald trump's going to have the money he needs to win this election, trust me. ashley: all right. well, i want to move on to this topic, msnbc host jen psaki says that third party candidates are one of the biggest threats that joe biden's -- to joe biden's re-election campaign. listen to this. >> these third party candidates are a huge, huge, huge problem, and there's a number of them. if you look at rf fk jr., it's the name recognition issue as a tom was just talking about. and there are still states in this country, obviously, georgia
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is one of them i will name where the kennedy name is beloved. so this is something -- there is an aggressive effort that the campaign has been working with the democratic national committee on to run on this. but it needs to be broad, people immediate to be shouting it from the rooftops because this is one of the biggest threats to joe biden being reelected, is these third party candidates. ashley: well, the question, i guess, david, is she right? is rfk jr. a problem? >> president biden's low approval rating is far worse factor for him in getting reelected than a third party candidate. and i'll give you specific examples. you think about his recent decisions on evs in michigan and, in essence, what he's saying to michigan autoworkers is i'm looking to put you out of work. that will cause him a problem in michigan. it is the policies that he pursues that will be far bigger. all that said, it is interesting that the democratic party which
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continues to shout at us the importance of democracy and of elections are the very ones that when it comes to threatening their potential to be in charge, they all of a sudden want to take candidates off the a ballot. i can't think of a more undemocratic move than what the dems are trying to do to take candidates off the ballot. ashley: exactly. all right, david, thank you so much for joining us this morning. always appreciate your insight. as we take a look at the futures heading to the break, looks like a slightly lower opening on this friday. we'll see how it works out, but all very muted on this friday morning in the premarket. meantime, coming up, indicted senator bob menendez made a shocking announcement just days before new jersey's democratic filing deadline. roll the tape. >> i will not file for the democratic primary this june. i am a hopeful that my exoneration will take place this summer and allow me to pursue my candidacy as an independent
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democrat in the general election. ashley: that's right, he teased an independent bid. we're going to get into that story. a top u.s. admiral says china is building up its military and is on track to be ready to invade taiwan by 2027. is the world on the brink of another war? china expert gordon chang takes that on next. ♪ ♪ (♪) (♪) (♪) (♪)
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ashley: all right, the major, changes pointing to a slightly lower open as we get going officially in just under 15 minutes. i want to take a look, if we can, at apple. "the wall street journal" reporting that the company held preliminary talks with china's baidu about a using their a.i. technology for its devices. apple up about half a percent, baidu up 4.5% as that news is being reported. meantime, china's xi jinping is set to meet american ceos in beijing next week. lauren, what's going on here? what can you tell us about the meeting? lauren: it's wednesday, and the "wall street journal" says the ceo of chubb, we've gangrene berg -- evan green greenberg, and the head of the u.s.-china business council will attend so far meeting with xi. why? look at the foreign capital flight from china. their economy is slowing, so you could say the president of china is eager to woo u.s. firms and
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their wallets. but separately, something is going on this weekend. dozens of ceos will be in china for their development forum, and they include apple, micron, pfizer, starbucks, you name it, about a dozen or so is ceos. it's a separate meeting and, presumably, the one with, and i would happen a few days later. "the wall street journal" is saying it would be wednesday. ashley: interesting. lauren, thank you. one u.s. admiral testifying that china is bidding its military or and and nuclear arsenal on a scale not soon since world war ii and they could be ready to invade taiwan by 2027, just 3 years. gordon chang joins me now. gordon, great to see you this morning. would you agree with this timeline, 2027? >> i don't agree with timelines in if general. -- in general. china has some very fearsome weapons. some of its missiles are actually far better than ours. you know, we have a navy -- our navy's in disrepair.
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xi jinping, talk about timeline, in his 2024 new year new year's message if said he put taiwan's annexation in a paragraph of things he wants to see this year. now, that's probably just propaganda, but we've got to be prepared for anything at any if place and at any time. ashley: yeah. it's interesting. lauren mentioned that the chinese economy domestically is continuing to struggle, and often that can be offset by leaders who like the take action overseas. somewhat as a deflection. is that a part of this? we know china is flooding the world with cheap exports, but on the domestic front it hasn't been an easy go. >> no. the chinese economy doesn't grow 5.2% last year as reported. it was probably somewhere in the 1.5% range or it could have been 0, you know? it was not a very good performance especially over a
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low base. we know that china's economy has deteriorated since then. xi jinping, you know, very well may not be reacting -- you know, we say we deter china, but he has a lot of internal incentives to do things that can take us with by surprise. ashley: yeah, that that's true. well, i want to get into with this one. it seems that many business decisions here in the u.s., or a number of them, have been increasingly dependent on politics. the latest example being the crackdown on tiktok, the japanese takeover of u.s. steel. i guess my question to you, gordon, is are we headed toward a chinese style of government where the government makes aunt big decisions. >> no, we're not. i mean, the chinese economy is essentially totalitarian these days, it's state-dominated. the reason why xi jinping is going to talk to all those american ceos is because he's attacking them, making it are difficult for foreign businesses to actually operate in china. you know, we're on the brink of
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perhaps catastrophe. clearly there's been a very worrisome erosion in stability. you've got wars all over the place, and, you know, the united states needs to start preparing for war. you know, americans may think they're at peace, but the chinese don't think that way, the russians don't think that way. so, yeah, we need a wartime economy president. we need to start doing those things. and, or you know, i know it's not going to be good for mix growth, but our country -- economic growth, but our country is at stake. ashley: yeah. and with that in mind, gordon, very quickly with -- would president xi prefer another term with joe biden as opposed to donald trump, perhaps? if? >> we don't know exactly what xi jinping is thinking, but i do believe that he sees biden as much easier for him to deal with. the one thing the chinese leaders can't deal with is someone who's unpredictabling. trump is unpredictable. xi jinping didn't get along very well with trump, so, yeah, i think that he would prefer to have biden in place. and and that's the way chinese
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propaganda has actually been running. ashley: a yeah. yeah, no big surprise there. gordon chang, thank you so much. great to see you on this friday morning. all right concern. >> thanks, around. ashley: now this -- thank you. are republicans are warning of a chinese-linked tutoring service being used by the defense department. lauren, what is the service in question, and what are republicans doing about it? lauren: tutor.com. their ownership is tied to the chinese communist party, so senator tom cotton and and congresswoman elise stefanik have introduced a bill to ban the department of defense from using its services. of they say this company collects data on our service members and their a families, and that is a threat to national security. and they say, look, there's so many other american-owned tutoring sites that can fill this void, is why use tutor.com? ashley: yeah. yeah, very good point. lauren, thank you very much. another quick check of the market as we head to the opening on wall street with. we suspect that we could have a
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slightly lower opening after all the records being broken this week. taking a breather, perhaps. sick around, the opening bell -- stick around, the opening bell is coming up next. ♪ -- hang you out to dry, dry, dry. ♪ ping all your secrets to the line, line, line ♪ [alarm beeping] amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. why not? did you forget something? my protein shake. the future isn't scary, not investing in it is. you're so dramatic amelia. bye jen. 100 innovative companies, one etf. before investing, carefully read and consider fund investment objectives, risks, charges expenses
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ashley: all right, we have the markets opening in, what, just urn three minutes, showing a slightly lower opening, perhaps the flat mark. mark mahaney joins us now. you just hosted, by the way, a google day. you set your price target at $160. how did you come to that? >> we're using a 20 multiple on gap earnings. you can also a look at it on free cash flow though. a valuation for google we think is actually reasonable here. some of the things we learned, the aunt trust risk, as we just looked at yesterday with apple, antitrust risk and government regulation risk has been rising for year, and it really seems like we're going to get some decisions, these doj antitrust discussions probably come as early as the end of this year. hl take years to play out with all the appeals and the remedies
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and the trials, but we're getting closer to a point where these companies are going to probably have to come up with some sort of a major settlement deals, anding google's probably going to be one of those. search and youtube look strong, that's what came out out of our report yesterday. ashley: very good. you know, you talked a few weeks back about your electric 11, amazon was in there, a number of big names. but if you had to pick 3, what are your top 3? >> well, our big 3 right now, our top picks are going to still be amazon. we've got cloud revenue growth acceleration this year, record high margins for the retail business and free cash flow margins. number two pick is kind of a stock call, and we think it's very cheap here, expedia. number three pick would be doordash which would be one of the electric 11. ashley: very interesting. you know, a lot of consumer-driven names. what is the psyche of the consumer right now, you know? they've been struggling, falling behind on bills, things are
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expensive. >> well, i think it's always about the next move, you know, especially when it comes to stocks. and things have been getting less worse, things have been getting firmer arguably for the last, you know, 12-18 months. and you're seeing that show up in the numbers. we think you're going to see accelerating advertising revenue growth, accelerating retail and accelerating cloud computing growth. it's always about the next change, and, you know, we started 2023 with a lot of uncertainty and fears of a recession is. that's not where we are in 2024. the consumer at the margin is healthier than it was he, he or she was a year ago. ashley: mark ma a mahaney, great stuff, got a lot of information in in a short amount of time, thank you very much. >> thank you, ashley. ashley: we are off and running on this friday -- thank you. the dow 30 stocks, you know, we were seeing in the premarket slightly lower, i would say muted to flat. and asking see the dow up now anywhere from, what, 9 points or
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thereabouts. a little more green than red though. we have nike and intel on the bottom end. and on the top end, we have -- actually, is that boeing, or are my eyes deceiving me? travelers are, verizon. there you have it, essentially flat on the dow. let's take a look at the s&p if we can. of course, it's been a big week, a big number of weeks for the markets. the s&p we'll call that flat at 5241. and then let's take a look at the nasdaq as well. the nasdaq also having a strong week and now just down 10 points. take a look at the big tech names if we can. it's a mixed bag. alphabet higher by 1.33%, ap apple up half a percent, however, in the very early going microsoft, amazon and meta if all moving just ever so slightly lower. all right, let's begin with yesterday's ipo and all the talk about reddit. strong debut, no doubt, but is
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the momentum there, just down a little bit, lauren. we're down, what, 2.5% but still at 49. lauren: ironically, those writing on their own forum, the wall street bets reddit chat, are voicing skepticism about that a valuation of $9.5 billion yesterday because they say it is still a money-losing operation. also if you look at are retail sentiment, an indicator that's on stocktwist.com is pointing to bees extremely bear issues -- views. so maybe the retail trader is saying, yeah, reddit, they just don't see after 19 years of no profit that they have a strong future towards profitability even with the money that they're bringing in by licensing out their forums to train artificial intelligence models. ashley: yeah. what have you done for me lately. of all right. also fedex reported after the bell yesterday. how did they do, lauren? lauren: apparently, great. stock's up 8%.
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they had a higher quarterly profit and a higher operating margin at a fedex express. the reason is cost cutting. they have been trying to fly fir but fuller planes, and with the more profit that they're bringing in, they're rewarding shareholders, right in the board has approved a new $5 billion share buyback. typically the words with a.i. or the words buyback juice a stock price, and and your seeing that today with fedex. ashley: yeah, up more than 7.5%. let's get to lulu lemm morning one of stu's favorite stocks -- lululemon. down big this morning, is that on a bad report? lauren: 14%. i would say stagnating growth in their largest market which is the u.s. and canada. sales up here 9% in the quarter, but a year ago they were up 29%. so that is a steep slowdown. so what they're doing is branching out into men's, into footwear k and they're also trying to build up internationally. i mean, in china their sales were up 80%.
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so the stock is down because of that slowing domestic growth, and then they cut their forecast for the year and some of the brokerages are taking down their price targets a little bit. ashley: yeah, that would do it. another retailer, nike. what, also showing a big drop this morning. what's going on with them? down more than 7. lauren: and that's certainly weighing on the dow. if i look at the number of jordan sneakers that my kids have, i don't understand how nike couldn't be doing wellful. [laughter] but they say they will take a hit this year, and they define that by revenue shrinking by the low single-digit percent. they're losing ground when it comes to running shoes. it's also a lot of competition these days. the list goes on. and when you look overseas to china, big market for them, they're slowing there too. they've already said they're looking to cut costs by $2 billion if over 3 years. ashley: despite the vail i can't efforts -- valiant efforts of the simonetti family. [laughter] okay, talking china, is tesla having a problem there?
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lauren: yeah. bloomberg's reporting they're cutting production out of their shanghai factory because of less demand for evs in general but strong competition from the local brands which are a lot cheaper than a tesla, ashley. the report says the workweek will be cut from basically every day to five days a week because they just -- there's not demand for their cars. ashley: very interesting. down 3.33%. lauren, thank you very much. take a look at the big board again, the dow ever so slightly lower, down about 10% -- wow, wouldn't that be something? 10 points. just about 5 minutes into the session. let's take a look at the dow winners, if we can. what few there are. it's pretty equal though, i think, between buyers and sellers. as we said, how about this, better news for boeing. haven't said that very much, up 1.75%. merck, amgen, united health and salesforce among the dow winners this morning. take a look at the s&p 500 top gainers, fedex as lauren just talked about, best buy,
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boeing again. clear -- energy and cvs, up 1.33%. can and very quickly take a look at the nasdaq winners. among those, alphabet on there, paypal, pin duo due bow, or they're all moving higher. let's take a look at the 10-year treasury yield, if we can, that's moving lower, still the 4.21%. what about the price of gold? it's been with on fire recently. right now down just over $9 at a $2197. 2,197 per troy ounce. bitcoin also moving lower, down, let's see, $1700, is that? i think so. $63,000. the average price, by the way, for a gallon of regular gas as we go back to gold, let's take a look at the average a price of gas. it is $3.53. have you noticed it's sneakily moving higher? and especially if you have to fill up those big old diesel
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trucks, because diesel is at $4.06. still pretty high. all right, coming up, secretary yellen was pressed on biden's lack of a plan to save social security. she certainly did not help the president's case. roll it. >> the president doesn't is have a plan, he has principles. he wants to work with congress to find a way to protect social security and,s e tend its solvency -- >> if the president bushes -- ashley: yep,ing you heard it, doesn't have a plan. principles but no plan. new york new yorkers are fed up with the city and its subway. they say it's getting worse and more dangerous, but nypd officials telling lawmakers that the subway remains generally safe. will the city get the situation under control? i'm going to ask new york city council minority if leader joe borelli next. ♪ help me get my feet back on the ground.
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ashley: we have this in, the u.n. security council just voting on the gaza ceasefire resolution. it did not pass, 11 votes in favor, 3 against, 1 abstention. since you should shah and china voted no, the resolution did not pass. u.s. ambassador linda thomas greenfield just slamming russia a and china for their vote, she said it was because they won't condemn hamas and want to see the u.s. resolution fail if. that's the latest from the u.n. security council. meanwhile, shoplifter lift -- shop is lifters in new york are using ebay and facebook marketplace to resell stolen items. lauren, tell me about it. lauren: it's a shadow economy. it costs new york's stores and
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businesses $4.4 billion a year. these organized groups of thieves, they go into a store. you've probably seen them do this. they steal something, they stash what they steal usually in a bag and then it goes to a backroom in a ware ahouse and eventually they hock what they steal online on legit places like ebay and facebook marketplace. these are not counterfeit goods, they are stolen goods. and it's not just designer duds, it's also a things like haagen-dazs ice cream. thieves fill up big garbage bags of haagen dazs, they leave the store and sell it at a local bodega a couple blocks away. john catsimatidis is tagging the ice cream so he can trace the haagen dazs when it's hocked down the block and on the store of a local bodega. ashley: it's come to that. lauren: it's come to that. ashley: incredible, lauren. lauren: yeah.
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ashley: of course, i'd follow haagen dazs anywhere it goes too, but that's another story. [laughter] members of the new york city council are sparring with police members over new policies to deter crime in the subways, one like using the national guard for random bag checks. one councilman is concerned that the it may lead to racist policing. okay. new york city councilman joe borelli joins me now. councilman, great to have you here this morning. have these policies been effective at deterring crime? is let's begin there. >> i don't think they're a great long-term solution. certainly not. the national guard are not trained police officers. that's not without question. do they probably deter some serious violent crime? absolutely. are hay deterring the people that are -- are they deterring the people that are fare-beating every single day? is no, not even slightly. ashley: what about the point of another councilman who said these policies are are racist? >> yeah, i mean, this is sort of
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the card that a gets played anytime. of these are a majority of the members of the council simply believe that the police as an institution is a racist institution, and it's their purpose to do everything in their power to ham astring -- hamstring the police from doing their job. we saw this in 2020 with defund the police, we saw this with a diaphragm bill which criminalizes police even restraining someone. and this has been the stated goal, people aren't doing it in secret. it's unfortunate that the net result for the majority of new yorkers who disagree with them is that their subways weren't with as safe as they were in 2016, 2017 and beyond. ashley: yeah, exactly. all right, next one for you, monday is the deadline for donald trump to pay his bond in the new york civil fraud trial. attorney general letitia james already moving to seize his property, it appear, in westchester, new york. i guess my question to you is how do you see this playing out?
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>> i think the attorney general might if get her way. i mean, trump is going to have to -- [inaudible] if let's be clear about what this was. we've gotten past the kangaroo are trial a phase and now we're at the emasculation phase of donald trump. and that's really what this is about. this is about taking away his signature assets to give him a slap in the face in advance of the 2024 election. that has been the stated goal of the attorney general. she has not been quiet about that. she has not been, or you know, discreet about her contempt for donald trump when she was running for office and as she prosecuted him. ashley: what does this say about doing business in new york? >> it certainly tells anyone that they are vulnerable to -- [inaudible] remember, even in the trial there was still no proof that any person was actually victimized. the banks were willing to reloan money to donald trump, people wants to work with him. but if you're guilty of a thought crime in new york, suddenly you might be subject to a different standard of criminal
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liability than anyone. like fare beaters, for example. people like that who we just don't prosecute at all. ashley: yeah. they a just want to see mr. trump suffer as a much as a possible. all right, we're out of time. councilman borelli, thank you, as always, for joining us. >> thank you. ashley: thank you. all right, coming up, don't forget if to send in your friday feedback. e-mail your questions, comments, critiques, we want 'em all, to varney viewersth@fox.com. home buyers and tenants immediate to be on guard against housing scams. we're seeing more cases of squatters taking over homes, and we're going to get advice from a self-proclaimed squat iser hunter who helped homeowners get their properties back. that's next. ♪ ♪ i want to live in your house. ♪ i want to live in your house ♪
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lauren: no, not. here we are again, ashley, another story of squatters being protected by new york law. that claims if you've inhabited a place for 30 days, you can only be evicted in the court if the case goes to court, and that's also expensive to do. so there's a story of a woman in queens, that's trying to sell her deceased parents' home. it's worth a million dollars. so she shows up at the house, and there's telephone significants living there who said, no, no, we're renting the home. she doesn't know anything about this. she was arrested because according to the law, she was unlawfully trying to re-- evict them. eventually, the queens d.a. shows up, tries to get in to no avail, and the neighbors are complain being about suspicious activity that's going on in the house. but the rights of the homeowner clearly don't exist. she was arrested. ashley: nope. lauren: she was arrested. ashley: yeah. it's an upside to down world. just another example. [laughter] lauren, thank you very much. by the way,ing we showed our viewers this yesterday. it's a man on tiktok calling on
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others to insaid abandoned homes and become -- invade abandoned homes and become squatters. roll the tape. >> translator: my people, i have thought about invading a house in the united states because i learned there's a law that a says if a house is not inhabited, we can expropose rate it. i think that will be my next business, invade abandoned houses. ashley: isn't that just wonderful? if self-described squatter hunter flash shelton joins us now. flash, good morning to you. what do you make of squatting becoming a, quote, business? >> well, i mean, i'm not surprised at all. it's just a matter of time. you know, we're giving, we're hearing a lot more about squatting. i mean, squatting's within been going on for years and years. most of the cases i've been dealing with, they've been dealing with the squatters for months and years. so, you know, i'm not surprised at all.
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ashley: so you help homeowners get their properties back with from squatters. how do you do it? how do you put pressure on squatters to the point where they put their hands up and say we're out? >> well, i mean, you know, most of the time squatters are regular people. they're, you know, they're just entitled people. they're just, i mean, they're a different breed, but, you know, i assume the same rights that they're claiming. so i -- one of the things that's important to know is that homeowners cannot do this because they have no rights, but if i go in as a telephone significant or a squatter -- tenant or a squatter myself and utilize the same rights that they have, then i can put pressure on them, put cameras, sit down and tell them what their life is going to be like and figure out who they are and what i think is going to hurt them and want them to leave -- or get them to want to leave. ashley: so basically, you join them in the house. i mean, do they call your bluff? you could be stuck in there for a long time as well. >> yeah.
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i mean, if, you know, if they want to be exposed to the world and then have a, you know, difficult time leasing a property in the future because, you know, landlords are going to see them on a list and they're going to be able to google their name and find out that they're a squatter, if they want to take that chance, then, you know, they can. but typically, heir going to just -- they know that there's another easy victim out there somewhere. ashley: yeah, unfortunately. flash, thank you for taking time to talk to us and, unfortunately, i think you're going to be a very busy guy, because squatting is in, for sure. flash, thank you so much. >> thanks for having me again. ashley: anyway -- our pleasure. now take a looked at this, an incredible scene at the border. more than 100 migrants busting down razor wire and moving -- nowing down, not moving or, nowing down national guardsmen. what happened here, laurensome. lauren: so this was in el paso, and this is new york post video that you're watching. these are mostly adult men.
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they're literally storming the razor wire fence and shoving the national guard, and then they illegally enter the united states flu texas. through texas. that's a three crimes just like that, ashley. nothing is being done at the federal level about this. i can tell you as of now at least one migrant has been arrested and charged with destruction of property and assault on a national guard officer, but this video, we finish "the new york post" got it but, or apparently, this happens all the time. this is happening all the time. no respect for our country, our world or our law. ashley: no. and they'll probably be given a bunch of free stuff as welch. all right, lauren, thank you. still ahead, tammy bruise, senate minority whip john thune and and dr. marty makary. the 10 a.m. hour of "varney & company" coming up next. ♪
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