cut, november cut very quickly. look where the inflation is coming from this year. it is shelter and auto insurance. we don't think the next six months out health every and auto insurance will not be reasons for sticky inflation. we'll not crash. the economy is strong. get down to 2 1/2%, maybe they start cutting. it would make sense. liz: great to have you, ryan detrick. here is the closing bell. [closing bell rings] nvidia after the bell, it is a.i. chipmaker. we have the company perplexity. and ceo and drew wilkerson will also join us. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. all right, biden's inflation inferno continues. we have another 7.7 billion in student loan forgiveness, think of that. house members byron donalds and anna paulina luna on that and just more in couple minutes. vivek ramaswamy on former president trump now accepting

cryptocurrency donations for his campaign, how about that? there may be no hope to truly tame inflation. that's a subject of the riff. stock market bulls continue to tout federal reserve interest rate cuts but the latest fed minutes out day throw cold water on that proposition. by the way, stocks don't need any extra juice from the fed. the current rally is based on solid profits which are always the mother's milk of stocks and the lifeblood of the economy but consumers prices have increased 4 1/2% at an annual rate over the first third of the year and of course nearly 20% over the course of joe biden's entire presidency. prices have risen faster than wages during mr. biden's term as typical working families find it difficult to live in the biden economy. you could add on personal borrowing costs like car loans, home mortgages, credit cards,

all those are not even counted in the cpi but they weigh heavily on families nonetheless. then there is the never ending biden spending machine and the soaring deficits and debt that go with it. basically you're looking at two trillion dollar deficits as far as as the eye can see. the root cause of those deficits is overspending which is running nearly one quarter of gdp. that is a peacetime record. the cbo estimate budget deficits will run close to three trillion dollars by 2034 as spending continues unabated from biden policies. deficits estimated to rise to 6% of gdp. it is an unheard of level in an could my with unemployment less than 4% and a still troublesome high inflation rate. debt held by the public currently totals 27 trillion. it is expected to rise from the

current 99% of gdp to to 116% of gdp. total debt itself now 34.5 trillion. net interest expense running over 800 billion a year. that is a near unbelievable number that is actually just as costly as our entire national defense budget. the joe biden treasury is making a huge mistake by financing its debt at the very short end of the curve through 91-day treasury bills which are currently over 5.25%. they are significantly higher than 10-year bonds that are yielding about 4 1/2% in the inverted yield curve. treasury should be selling much longer duration bonds to avoid high interest expense and frankly to properly fund out the debt burden over a long period of time.

maybe 50 to 100 year bonds, would make a lot more sense for future generations than three month treasury bills. the problem with curbing inflation is while the fed has pushed down on the brake biden's spending policies keep the accelerator on the floor and that's and inflation problem for the longer term that is unless someone else comes along to completely change the policy. and that is my riff. all right. joining us now, florida congressman byron donalds, florida congresswoman anna paulina luna. thanks to both of you for coming on. byron donalds, i will start with you, i don't know, we just spending away. the fed is pushing the brake down. the biden spending is pushing the accelerator down. inflation remain as very sticky problem and on top of all that you know they're just pushing how much, seven, eight billion dollar of more student loan cancellations, even though the

supreme court has told them you can't do it. you don't have the authority to do it. you know, byron, this is some crazy government if you ask me. >> larry, good to be with you. i will tell you that this is a rogue government. it is a radical government. you're right about student loan debt. the supreme court has told joe biden no. the congress has not voted on anything like this for student loans but he does it anyway. that is a violation of separation of powers. it is an impeachable off -- offense. his massive spending over spending unfortunately a lot of our colleagues on capitol hill voted to continue. nobody asked the key question that you ask, larry, what is happening in these treasury auctions? how expensive it is for the united states to continue to borrow after dollar when all we have to do is be responsible here on capitol hill. it is a recipe of disaster lead by the master of disaster joe biden.

that is why we got to get rid of him. we need donald trump back. larry: anna, thanks for coming back on the show. look, washington has to stop spending. i want to get your take on this. we're, you know, byron is a financial expert, okay. i can hardly keep up with him. he knows about yield curves and treasury bond issues and all rest of it, he is right on target but just generically this country spends too much money, there are too many deficits, there is too much debt, americans grow weary. it is showing up at the polls. you even got bankers like jamie dimon, who is basically a democrat saying hang on a second, all these deficits and debt will keep inflation as far as the eye can see. how do you break this cycle, anna, that's really my question? >> i think it is really up to the voters this november as byron had stated. a lot of people realize under president trump's economy everything was more affordable to include the grocery store. when you're seeing this administration pushing something like student phone forgiveness i

long at that they're trying to buy votes. for people like myself, who literally joined the military to pay your way for college, is slap in the face for those of us who did it the responsible way. a lot of us realize regardless what this administration, you can't trust them. you're seeing massive influx of voters from the black and hispanic not just to the republican party platform but to president trump. larry: the interest of trust, new "harris poll" out today, big majority of people say we are already in a recession. i mean i don't have it in front of me but it was 60 or 70% honestly say we're already in recession. now technically we are not in a recession but you know, anna paulina lawn that, it is a matter of broken confidence in biden which he cannot somehow marshall back. i think that is what they're really saying. i have no confidence in the future. things are not fabulous now.

it is too expensive to live in his economy. i have no confidence he will fix it. is it possible? i mean it is a confidence perception and a confidence breakdown, anna? >> most notably, cardi b she recently said would not be reendorsing president biden because she is frankly disappointed in his performance. other people in celebrity hollywood are supporting president trump because of that. i couldn't agree more. my colleague byron has something to say about that. larry: if card di speak to me, we could talk about supply-side econmics. >> cardi does know about supply side. you would have a good conversation about economics. a lot of people, amber reese is supporting president trump a lot of people in hip-hop are supporting president trump. they understand if it doesn't make dollars it doesn't make sense. people might be making money

under joe biden but they're spending far more, everything is more expensive. it simply doesn't work. that is before you get to the other problems dealing with this administration. so that is why you're seeing so many out of entertainment world lining up behind donald trump because at that point in american history the economy worked, things made sense. the media never made sense. we're working on them the best we can. larry: if she calls me i would be happy to talk to her and which can have a little sit-down with charts and graphs. couple more things. you two are terrific. i appreciate you being on the show very much anna, our own bill melugin, massive migration through california coming up through san diego. people coming across the border iranians, pakistanis, chinese, turks, indians, et cetera, that is kind of a new ballgame. we're getting so many foreigners not from south america, not from

central america, not from mexico but they're coming from all over the world. now the middle east, all right? i think first of all, that is going to become a big issue. there are terrorists in that group and there are also criminals in that group. what do you think, anna? >> i think that it's actually the number one topic for the election season. i think this is a creation of the biden-harris administration's doing. i think it is interesting that the media is still trying to portray these people coming here as hispanic when they're simply not. you are right, there are people noted on the terrorist watch list being caught unvetted, unchecked, trying to come through our u.s.-mexico border. i would say if you're an elected official, care about the communities, saying we need to secure our border. i would argue until we get it under control you could put a temporary pause in an effort to allow the immigration courts to catch up. larry: one other thing on this, byron, the state of oklahoma is being sued by the justice department, okay, by the garland, merrick garland,

justice department because oklahoma is now criminalizing illegal immigrants. imagine that, they're criminalizing them. in the pokey for a couple of years if they come over illegally. governor stitt is very much a part of this and the garland justice department is opposed to it. it is somewhat like what happened in texas where they had to take their own steps and bring in the texas guard and the texas rangers and put up chicken wire or whatever barbed wire. states are taking it into their own hands because the bidens won't do anything about it. >> listen what states are doing is absolutely correct. they have a responsibility to protect their citizens. if the federal government is not doing their job. i mean, larry, go back to the founding of this country, the states would have never ratified the constitution if the federal government could just ignore the law. that is what has happened in the united states today. joe biden ignores the law. merrick garland does nothing to keep joe biden accountable to the law, around actually what is

happening is, they are criminalizing other states that want to enforce the law. by the way they're also criminalizing their cleave political rival in donald trump. it is an absurdity why they must be defeated. garland has to go as well because the job of the administration is to execute federal law, not go around it, not ignore it and not create new law that never existed in the first place. that is why america is crumbling right before our eyes. larry: anna, you want to bust merrick garland. tell us about it. >> yeah. so basically we're going to be voting i think when we return from bake on contempt of congress. i don't have faith in the justice system. i filed inare inherrent contempt of congress resolution against garland. i hope to bring it to the floor. allows use sergeant-at-arms at direction of speak of the household the attorney general accountable. mind you same thing would happen to any other american. i don't think there should be a two-tiered justice system.

i am hoping my resolution can restore justice in this country. larry: it is a noble cause, i will say that, it is a very noble cause. thank you very much, representatives byron donalds, anna paulina luna. talk soon. >> thank you. larry: coming up next up more about this business about a 100 year treasury bond, a lot of fun. former papa bush economist todd buchholz and our own taylor riggs. folks remember you can catch "kudlow" monday through friday 4:00 p.m. right here on fox business. if for some reason you can't get us at 4:00, please text your favorite nine-year-old and she will show you how to dvr the show and you will never miss a single 100 year bond. i'm kudlow. we'll be right back. ♪. together. like your workplace benefits and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals and look forward to a more confident future. voya, well planned,

well invested, well protected.

and they're all coming? those who are still with us, yes.

grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly.

>> folks, welcome back. we have breaking news, news corp and openai have just signed a landmark multiyear global partnership that will bring news corp's news content to openai. openai will receive access to current and archived content from news corp's major news and information publications. those include "the wall street journal," the new york post, "the times of

london," "the daily telegraph" and other media outlets. fox corporation, by the way, shares ownership with news corp. to tell us more about this new partnership, sam altman, the ceo of openai, and robert thompson, the ceo of news corp will join just a few moments lighter in the show. all right. there's our breaking news announcement. now, get back, get back to the mundane, i don't know, get back to something. we're going to talk about the case, i love this. 100 year bonds, the case for 100 year bonds, got it? joining me now is our own taylor riggs, co-host of "the big money show," right here on fox business, very old friend of mine, todd buchholz who was economist and author of, the price of prosperity. todd, you stimulated this segment by your note to me and your op-ed piece. i will tell you, i will tell you, when i was in office i talked to donald trump about this many times and every time i said 100 year bonds he loved it.

yes, we have to do it. yes we have to do it. japan is doing it. we have to do it. mexico, china, yes, we have to do that. there wasn't a lot of total enthusiasm in the others in these oval office meetings but you have trump on your side, todd buchholz. let's start with that. that is not nothing by the way. >> that is not nothing. this has been one of the biggest blunders in american economic history because think about it, we could have locked in our borrowing at 1 1/2% for 100 years but instead we're now borrowing at over 4 1/2. larry: this would have been, during the meltdown or -- >> basically from 2000, i wrote a piece in "the wall street journal" back in 2012. so basically since the financial crash of 2008 until two years ago we had the opportunity to lock in these rates and instead we, we now spend more on interest on the debt than

defense and it didn't have to be. larry: and yellen is selling, taylor, treasury secretary yellen, i will be respectful, it is not personal, never personal with me, let's say she is selling the bulk of the debt at the shortest end of the curve, 91-day treasury bills. i don't know why they're doing that. i'm not sure what the rationale is, but in this inverted yield curve, the 10-year, i will call 4 1/2%. >> sure. larry: she is selling all the paper at 5.25, makes no sense to me. >> two year is 4.8. creeping up. you are irbuying more on the short end than the long end because of the inverted yield curve. i like the idea of century bonds because we had unlimited qe forever, negative zero interest rates. for my generation and my future generations we could have been saving so much money that you talked about. instead we're issuing rates now, paying that debt expense on yields that are triple what they were just a few years ago right

around covid. so we're just wasting that money and burdening the future generations. larry: no, that's right. selling all these short, rolling over every three months is not funding the debt properly. it is not bonding the debt out the way a company would bond it out. your piece, you cited a whole bunch of companies that have sold 50 to 100 year bonds. >> disney sold bonds. they call them sleeping beauty bonds. norfolk & southern railroad a railroad sold 100 year bonds. will there be rail rolleds in 100 years? doesn't matter. they were able to sell those bonds. treasury decides to blunder, every night there are 120 productions around the year of the musical "hamilton." i think every night hamilton should come forward and weep for the disaster at the treasury department. larry: progenitor of u.s. treasury debt, alexander hamilton just in case cardi b

happens to call me. is that her case, cardi b? >> yes. you're so young and hip, larry. larry: i'm very current, i will turn her into a supply-sider. >> then you will bust a dance move anytime. larry: taylor riggs, before we descend any further into this -- >> just a liquidity issue. larry: yes. >> i wonder they're probably going on the front end of the curve it might be mower liquid than maybe a century bond or 100 year bond. i think there is appetite for u.s. debt. i would argue now is the time. >> our average duration of debt is five years. britain is 15. can we at least catch up to the brits on the way to the 100. larry: just on 100, then we'll move on, who, mexico has long, 50s. >> austria, ireland, belgium. larry: ireland, my favorite with a 12 1/2% corporate tax rate. china sold long, long bonds? japan has sold long, long bond.

>> japan sold long bonds. larry: they have a lot more debt. they have a lot more debt than we have. of the. >> janet yellen was asked about it when interest rates were 1 1/2%. we looked at it, we looked at it seriously. larry: tell you what, forecast in my vote if mr. trump wins, he will restart all of the oil and gas drilling. that will put more supplies on the market from that production. that will lower energy costs substantially and spill over, hang with me, to lower inflation rate and much lower interest rates. at that point it is time to go to 50 or 100 bonds, if he ever gets the second chance. i believe exactly what he is going to do. taylor, in our last minute, the fed minutes came out today. >> huge. larry: no interest rate cuts in my lifetime. >> you and i are obsessed with the fed meeting minutes. we're making them fun again, making them great again. larry: only ones in the building. >> but we're making them fun

again. they're actually admitting yes, maybe hikes. i don't think hikes are going to happen but understanding cuts likely will not happen. maybe you get one in december. i think they came out from the minutes of that meeting in saying we could look at maybe hikes but we are not cutting anytime soon. higher for longer. larry: higher for longer. the center of intellectual gravity on this board is a fellow named christopher waller. he was appointed during the trump administration. i had something to do with that. he has said for a while the evidence on inflation is not good enough to cut rates and i think people should listen to him. you know why? because other fed governors and presidents listen to him. i will give you last word. >> make a list of the team transitory, right? larry: yeah. >> joe biden, janet yellen, paul krugman and all sorts of eminences, inflation was passing thing, don't need to worry about it. larry: i have to give larry summers, two democrats, jason

furman, larry summers. >> they have great integrity. larry: summers called the spending bill in 2021 of march, the 1.9 trillion, summers calls that the original sin of inflation. >> yeah. larry: i think he was dead right. >> larry and jason have shown great integrity. larry: i agree. todd buchholz, very good to see you. >> good to see you, larry. larry: taylor riggs, thanks for helping it. be sure to catch taylor along with her co-hosts brian brenbrenberg and jackie deangelis "the big money show" here 1:00 p.m. eastern every weekday. i love this story, president trump is now accepting cryptocurrency donations to his campaign. is that cool? wow, we'll talk about it with vivek ramaswamy. remember, folks, "kudlow" available as a podcast. episode every weekday right after our show. we've got spotify, we've got apple, we've got

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larry: all right, a very interesting topic, former president trump's campaign is bet being big boating big on crypto. taking contributions in the form of cryptocurrencies. vivek ramaswamy, trump campaign surrogate. >> ceo, all good things in live, vivek, welcome back. i want to start with the crypto story. i think it is very modern and current and cool that mr. trump, who by the way i've known for quite some time always been favoring the crypto. he doesn't see why not. certainly better than having the fed and treasury run every dorn thing in the world. what do you make of this story, crypto, crypto for trump? >> i think it is positive, i think it is positive, larry, of

course biased because my presidential campaign accepted cryptocurrency donations for the latter half of the campaign or most of the campaign so i think it is a good move but also it is what it sim symbol lieses right? this is opt out of federal reserve running a printing machine for last 20 years on hyperdrive. that opt out holds existing currencies, fiat currencies, including u.s. dollar hold their feet to the fire, which is accountability you should want even if you're rooting for strong dollar in the long run. president trump is ahead of the curve, after new hampshire, he and i had respected his decision, he was opposed to central bank digital currency. that is something libertarians, even not traditional republicans, libertarians, freedom-minded independents across this country is continue to respect about him, his ability to adapt, as issues move he is keeping up with them, the

true by trump but not joe biden. larry: central bank digital currency, let's just break that down. it is a federal reserve digital currency and it's an attempt by the federal reserve and treasury to control our money, that is what it is. better off to break through, help the cryptocurrencies out. you know most of their exchanges are good. i know there is some bad apples and there will probably be more regulation of the bad apple exchanges but crypto, take bitcoin for one second, bitcoin's had a great year, vivek. bitcoin, the price of bitcoin, i don't know what it is today, but it got back to close to $70,000 for heavens sakes. >> yeah, look i think the point about the central bank digital currency is spot on, larry, where one of the arguments for doing it in the current administration that china is doing it. we have to keep up with the jones or xipengs as the case may be. ask why china is doing it?

they want to be able to wipe out your bank account if you say something they didn't approve of, do something the government doesn't approve of that sun american. this is not a issue standard campaign issue or four years ago, or eight years ago, keeping up with the issues as they arise, a rising principles arising at principled stance, joe biden has failed. not just his age, his ability to adapt as new issues rise one of the media ignored, that trump's adaptability is important point. larry: 100%, vivek. i have one more for you. i riffed on this yesterday. we had senator jd vance, this whole business of joe biden going to morehouse college whose kids by the way, whose graduates are doing fabulously in the real world, getting jobs at 12% higher pay, anyway biden is calling them victims, all racism and all jim crow. it was the most insulting,

disgraceful thing. i want you to hear some sound from senator jd vance on this subject. let's roll it, please. >> what he is trying to do, i think it is insulting to the graduates distract them from the fact he has been a failure after president by pointing to racism and telling them that they should feel like victims. larry: you know, pointing to racism, calling them victims, talking about jim crow, all implicitly suggesting that donald trump and all republicans are themselves racist, i thought that was a disgrace, an insult. you have got young future leaders coming out of morehouse college graduating class, the whole college has had tremendous success down through the years without joe biden telling them you will fail because it is a racist world. what do you think of all of that, vivek? >> i think it is a classic move from their classic left-wing playbook. blow woke smoke to deflect accountability for their own

failures. victimhood is the currency. they're doling it out. they're not doing those kids a service. joe biden is not helping those kids. one of the most disasterous things you can tell a young person you can't achieve something because of your skin color. victimhood is a cancer across the country. the good news a lot are not buying it. a lot of graduates are not looking up to hold out joe biden as an example. you know what black voters want in this country? the same thing all voters want, honesty and respect, not condescension. i think there is tidal wave coming in the other direction. we've become a nation of victims. i written a whole book. we have a nation wallows in victimhood instead after nation as underdogs we were founded as. that phase is passing, storm slowly passing, what i see among this country, including among college graduates and young people a hunger to go in the other direction, you know what? we have been fed those

narratives. the new way going forward we'll revive scrappy ideals this couldn'ttry was founded on in the first place. i don't think they're buying what joe biden is selling. larry: you go to these colleges, you speak at commencement graduation, you want to hear hope, opportunity, you can fulfill your dreams as a president. i'm going to do everything i can to nuture that and open up these opportunities. you just don't get any of that. you're right, it is right out of the left-wing playbook. everybody is a racist, everybody is a victim and somehow we have, i don't know vote for joe biden and his government. it just doesn't make any sense at all. you know, make america great again looks better and better when you hear a speech like that from joe biden. vivek, one more, if you got a second, one more, there is still all these rumors in washington, joe biden said he had no executive authority to do a thing about immigration. now he's apparently, reportedly looking at some executive order but this order, you know, 4,000

people, 4,000 people per day, if you go to 4,001 he will suddenly close down the border which no one believes. he has the authority, 212-f, if i get that right, 287-g, would allow him executive authority to work with local law enforcement and deport criminals, vivek. so far he has come up with nothing. i'm saying that is the resume hour. what do you think about all of that? >> well i think the right answer is, use every tool kit in the book. we don't need new laws. what we really need here, larry, is a new president of the united states. that is the best border policy of all. 287-g, co-op those local law enforcement officials to give leverage to i.c.e. to engage in mass deportations we actually need. 212-f authority that allows the u.s. president to restrict immigration from certain countries. use the coast guard in the

waterways. use aquatic barriers, land barriers, physical wall, legal wall, you name it, that is already they arized in the name of the u.s. president's executive power. what you have a president who failed to enforce the existing laws. chuck schumer and the democratic party will put up a smoke screen they need to pass new laws in everything else hail mary, to every tactic they try is a hail mary in the face of cratering poll numbers. the hard truth they already had the power to act. they failed. the american people shouldn't fall another that. the right policy would be decided at the ballot box. larry: vivek ramaswamy, as always sir, we appreciate you coming on very much, take care. folks let's turn back to the breaking news from earlier this hour. news corp and openai signed a landmark global partnership that will bring news corp news content to openai. openai will receive access from

current and archived content from news corp major news and major publications that include "the wall street journal," the "new york post," "the times of london," "the daily telegraph," a whole lot of other media outlets. joining me with all the details, mr. sam altman, ceo of openai, and mr. robert thompson, ceo of news corp. thank you for coming on. you honor our show. first time for both of you. go to my friend, robert toms-en, what gave you the idea, what was the genesis of this and perhaps in short why do you want to complete this deal? >> well, really sam and his team deserve a lot of credit because it began as a conversation and it ended with an agreement. we can't go into specific details about the agreement other than to say it is quite profound in its consequences for journalism and not only journalism now but journalism in the future so we're very proud to partner with sam and his team and it's just clear that they

appreciate the preciousness of provenance. larry: sam, mr. sam altman, hello, i'm larry kudlow. we have never met before. you've done similar -- >> nice to meet you. larry: thanks for coming on the show, sir. you've done similar deals if i'm not mistaken with reddit, "axios," financial times, lemond, if i i have that information correct. did you approach news corp? did you approach "the wall street journal"? did you approach my friend, robert tomson? >> we talked about it casually for a while. i don't remember we know more about what to do. as people use chatgpt for daily information we want to bring high quality daily information to other users around news corp has that nominally great content and we think strong journalism is very important and we need to figure out something that makes sense here. larry: sam, walk us through it. a lot of people may not know how

your company operates? >> we do a few things but we're well-known for running a service called chatgpt, that lets you ask questions or talk to this sort of a.i. system and now you will be able to get relevant daily information from news corp when you're asking questions that need it. larry: so we heard, just one before i go back to mr. tomson, sam, we heard crazy stories of enact inaccuracies with respect to a.i. and related social media. do you think having access to such a highly reputable group of publications, news corp is absolutely topflight, i don't want to beat up on the others but news corp is the top of the line, do you think that's going, do you think that will help, shall we say clean up the a.i. chatgpt, people talk about safeguards? i myself don't want the government to run the whole bloody thing. i prefer the private sector myself. is this going to make it cleaner in your judgment?

>> zoo first of all when robert and i started talking i said to him then, obviously still very true that "the wall street journal" is my favorite news outlet. the one i read, one i go to first. i think it is super high quality information. we said, i thanked him for that we want to find a way to get this into the service. i think very high quality information from very trusted brands does really matter to users in lots of ways. being able to display that will add great deal of value to the service and good to do for the world. on the question of sort of inaccuracies in a.i., we continue to make rapid research progress to improve that anyway. if you look where we've come over the last few years, that's really important to us as a general, as a general thing in the service we want to build and the technological progress, there has been great, and this partnership will make it even greater. larry: you know, robert tomson, i'm a great believer in gales of creative destruction. you have these technological

breakthroughs. they may be bumpy. they're not perfect but i always think it is better to be in the private sector. i don't want the government to take them over. i'm a fan of joseph shumpeter, gales of creative destruction. the a.i. revolution is gales of creative destruction, the new replacerring the old. you will be a part of that now, are you not? you will be the main part of that, you decided to give access to your content which is kind of the golden jewels. are you comfortable with that? >> oh, very, look, very comfortable, and very extremely comfortable in the partnership with sam. rook, apart from -- look apart from artificial intelligence, which will affect every company, every person you need active intelligence and emotional intelligence and that is why these partnerships are so important. as sam said the obviously the contemporaneous content is important but also the past is prelude. the access to the archive. "the times of london" 1795.

it was kirk a guard, life has to be under stood backwards but only look forward. we're with a.i. with the spirit of kirk a guard's on observatio. historically there has been a huge shift of value and power and leverage from creators to distributors and clearly a.i. age is another iteration of distribution and that's why being a partner with sam and his team is so important that we get the balance right between creation and distribution and what we're distributing has the essence of provenance in them. larry: robert, the, the much-vaunted "wall street journal" is reporting that the deal is $250 million over five years. they will pay you $250 million over five years. they are reporting that news corp's stock on the news of

this is up 5%. is that 250 million-dollar accurate? >> look i'm not going to comment on that. look it, it is after the market close, so you do get bumps and undulations shall we say. look, sam and i joked once in the past that what we're not doing is channeling meyer, my erudite, ac/dc, wasn't dirty deals done dirt cheap. larry: i don't think i'm going to follow up on that exactly. thank you for that wisdom. we appreciate it. mr. altman, last question, it's not my world but scarlett johansson is suing you. can you tell us a little bit about that? will that suit be solved anytime soon? >> look i'm sorry for the miscommunication there, it is not her voice, wasn't supposed to be her voice. larry: i beg your pardon. it is not her voice? >> it is not her voice and was never supposed to be her voice. larry: the suit is without

merit. has the suit been withdrawn? >> i don't even know if we've been sued. larry:ee, yes. >> has that happened? it has been a long day for me. larry: yes, there is a suit. may be a bogus suit. >> larry, if you -- larry: go ahead. >> if you listen closely a more melofus version of my voice. >> we could make a new character based on your voice, if you like to audition, robert? larry: while we're at it, talking about "the times of london," what did you say, 1795. i was there. i was actually there i remember the whole thing t was very exciting. kind of like this partnership you're talking about here. anyway, i think my producers are telling me we're going to leave it there you don't want to talk about the financial numbers. you don't want to talk about scarlet. that is okay. it is a very interesting deal. gentlemen, thank you for coming on the show. i wish you both the best of luck. all right.

thank you. >> thank you. larry: we will switch gears, go to something easy like politics. joining me is charlie hurt, "washington times" opinion editor, fox news contributor, joe concha, fox news contributor. joe con charges would you have made this deal? >> absolutely. >> be careful. [laughter]. >> i don't want to have to follow sam and robert. larry: it is a great act. >> i want to play some ac/dc. larry: ac/dc, we're not going there. >> back in black. >> it is the future. larry: so hot. we don't know what the financials are. that will come out and all the wall street analysts will want to know that. clearly they weren't ready to talk about that. >> have you seen what nvidia's stock has done over the past year? larry: i heard they beat earnings just now. maybe someone can whisper in my ear. what it is doing in the moonlight trading or after-hours trading. my old parter in jim cramer named his dog nvidia, i thought was very cool at the time.

and it is very cool. nvidia is up 3 1/2% right now. this is a real brings show. >> the idea of adding truthful, honest, faithful news and information to a.i. is a spectacular achievement. larry: it will help them. it will help them, right. >> and then the other problem which, and i think that our company, we're blessed our company has been on the front edge of all of this, understanding the need to figure out how to pay creators, how to, how to protect the value of the information that you dig up and create and it's a real problem and we're seeing newspapers, you know, fall to pieces left and right because people haven't figured this out and if this is a way of figuring that out, it is going to -- not to overdramatize it, it will save the republic because you cannot have a republic without an informed and educated electorate. larry: i dare say, i never liked joe with respect to the a.i.

revolution, chatgpt and so forth, and there are grinches and there will always an glitches, but i don't want the government with oppressive regulations to run the whole thing. if you look at the biden proposals on this, it is blanket regulation, completely, beyond the idea of safeguards, goes way beyond that. >> far too much money to be made in a capitalist i can society where i don't think these regulations will tamp down anything. if we do overregulate this. guess who will not overregulate this? the chinese and will clean our clock. >> if you believe the government is the only answer to these problems you cannot have a free country and it will collapse. that is why private partnerships it sounds like this is, figuring out how to protect free speech and make it valuable is the only way we survive. larry: well i think, the issue here is, this particular deal, and programs similar deals, is private investment, that's what it is.

it's a way from the government. no government money in this. it is private investment. that will be the most entrepreneurial and creative possible. >> the only reason we have a country in the first place is because of printing presses. the reason printing presses worked made it what this country is because they were in private hands and it allowed a multiplicity of viewpoints and obviously, people, you know, that's how you get at the truth and people are smart enough to figure it out. larry: joe, speaking of private markets, the betting markets have trump 55 and biden 43. what do you make of that? >> it is even more now. moved to 17 point lead for trump. larry: really? >> largest lead ever across three campaigns, 2016, 2020, 2024. put it this way joe biden was leading by two points when the alvin bragg trial began. now trump is up 17. larry: that's a great point. >> trump barely campaigned.

not like some great policy idea came out. totally driven by lawfare. larry: going to be up in the bronx today, up in the bronx. bodegas last week. fire department before that. last word. >> great thing about it, you have a felony trial, with the presidential nominee in court and you have all these republicans coming up from washington to get on camera in the courtroom and it's joe biden who is having to run away from the trial. that is how badly this thing backfired. larry: trump is the center of gravity. taking the country by storm again. >> by the way 55-43 in an election that is a landslide. larry: it is a landslide. >> why not yankee stadium? larry: i love you. when i see him sometime, put 75,000 people in the stadium. put them on the field, everything like that. you watch all the blue state politicians fall on their sword have to go to advanced therapy. >> he comes out with enter sandman. larry: joe concha screaming at

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“life is better under a sunsetter!”act now and save! larra rhode islander i'd ask the distinguished next guest what happens if it'll is convicted. welcome j jonathon turley, geora

washington university and favorite fox expert. walk us through, it's not my favorite situation scenario, if he's convicted bay new york jury, what might happen? >> they first have to go through sentencing and after a conviction, there'll be recommendations on sentencing that'll be put forward. there'll be arguments on sentencing and that could take as much as 90 days, depends a bit on where the court is. once he's sentenced, it get as bit sporty because many judges just commit you at that point. this is not your normal case. merchon doesn't want to make special adjustments for the case and he's one of the most novel in my view, baseless, criminal cases. i think this theory is absolutely nuts. i think the evidence now stands in direct contradiction to what bragg is doing. there's a very good chance on appeal that could be overtopped.

larry: appeal take as long time. >> it does, but are you going to really send the former president of the united states to jail in the middle of a presidential season when a significant number, including liberal commentators believe your entire case already collapsed legally? if he goes to jail, then the sec retoservice goes -- secret service goes with him and then the issue if he's elected president, they can't keep him from acting as president. and so you can be president and be in jail. larry: all right. i wish we had a lot more time. you're wonderful onset but i have to pass the baton to david asman in for lizy macdonald. david, there you go. david: thank you, larry. i'm david as asman in for elizah macdonald. "the evening edit" starts right now. biden admin strays piling on the debt with the president bailing out $7.7 billion in student loan debt. this is a new fed report found 84 bernards healthcares of adults