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tv   Varney Company  FOX Business  June 5, 2024 11:00am-12:00pm EDT

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the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo >> i thought it was are interesting when he said, you know, i can do this job, and i'm as good as i've ever been, and i'm thinking, that's the the problem. you're still joe biden. >> it's a sham. the president's lying again. democrats are lying. they're killing americans. they need to be held accountable now. >> i haven't heard merrick garland discuss any defense of his position other than it's embarrassing to president biden. >> this has been an extraordinary to be hood winking of the american public. and really a disservice to the democratic party. ♪ i'm back in the ussr. ♪ you don't know how lucky, you
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are, boy. ♪ back in the -- stuart: a health care, ringo starr. what was the u, sr? the union of soviet socialist reapplications. remember that? the. lauren: of course. i learned about it in school. stuart: you don't remember it. i was born and raised with it. 11:00 eastern time, wednesday, june the 5th, and look at the markets. the nasdaq is showing a very solid gain request. it is up over 1%. the dow was down over 100, now it's down a mere 60 points, so more green than red on the left-hand side of the screen. how about big tech? mixed picture, i believe. yes, it is -- no, it's not, it's all a green. meta, microsoft, alphabet, apple, amazon, they're all up. the yield on the 10-year, treasury keeps going down. you're at 4.31, earlier we were at 4.28. lower treasury yields.
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now this. the president has fixed the border. no, he has not. he's comp up with a complicated new system that is supposed to cut the flow of migrants. it shuts the border after the the 7-day average hits 2,550 encounters. it reopens when the encounters drop to 11-- 1,or 500. 1 million migrants would still be allowed in. host not dealing with the border. this new system is entirely political. biden knows the border is a huge negative for him. so with five month if before the election, he comes up with pure window dressing. laughably, he blames trump for the mess he created. fox reporter bill melugin brought us video of hundreds of migrant can withs flooding across the border or early this morning. they came from all over the world. mauritania, nepal, latin america. they took selfies at the wall as they celebrated their arrivals. they were met by just one border patrol if officer.
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if biden thinks his executive orders are are a political fix, he's wrong. he's split the democrat party all over again. the left already opposes him on gaza. they call him genocide joe. and new they oppose if him on the border. they don't like anything that cuts the flow. ironically, it is the republicans who are united on israel and on the border. it's the democrats who are at each other's throatses. it's a very tough moment for the president. chaos on the border, front page story in the "wall street journal" notes his obvious physical and mental decline. his son is on trial on gun charges, that's an embarrassment. and in a new poll shows trump still holds a narrow lead. five months til the election. third hour of "or varney" starts now. ♪ ♪ ♪ stuart: jason chaffetz, gentleman on the right-hand side of the screen.
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this is a tough moment for biden. does anyone believe that he can be president for another four years? i think i've asked you this before, but i don't think anybody does. >> well, it's a tough moment for the president, but it's been tough on the rest of us for three and a half years, stuart. it's not like he's going to to change anything. it's not like he's going to to get younger. he has no policy to get after inflation. i mean, we've got wars raging around the world, he has no plan to deal with that. so elections are about the future. what's the future of joe biden? and what new policy does he want to the implement if he's given four more years in he can't answer those the basic questions. stuart: look, if everyone agrees, no, he cannot be president for another four years, it's not going to happen, then what are we looking at? president kamala harris in are we looking to remove the president from the ticket somehow or other in the next five months? what's going to happen here? come on, jason, i i want
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speculation, i want a prediction. >> it's going to be president donald trump and whoever he picks as a his running mate. when you had david axlerod finally say out loud definitively are, hey, let's get over the idea of replacing biden and just get on with the reality that he is going to stubbornly continue on, that that's probably as a close to the reality because i really do believe the leader of the democratic party is president obama. and so when axlerod speaks, his closest adviser, he really does, i think, give the best glimpse into what the obamas are thinking about. and we owe barack obama is the reason we have joe biden. he's the one that a picked him. he's the one that said he was great even though he went with hillary clinton last time, we're stuck with joe biden because of barack obama. stuart: donald trump is urging republicans, this is interesting, he says, hey, vote early and use ab a seven tee ballots -- ab a seven tee ballots. that's a big reversal. jason, why the turn-around? >> because it's the reality of how you win elections.
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you can be right on all the issues, you can be the best candidate. if you don't have a ground game, if you don't get out of -- out those votes early, harvest those ballots, you're going to get your butt kicked by the democrats. he reversed on that,s and he reversed on embracing tiktok. you know, it's a national security threat, but if bind's going to use it to do politics, guesses what? donald trump's going to do it, and he's going to do it better than joe biden's doing it. that's the way and one of the reasons he's going to win this election. stuart: he reversed policy because that's a way he could win. that's why he's doing it, i think. anyway -- >> yeah. stuart: jason, thanks, as always, for being with us. oh, no, hold out, i've got one more for you. >> thank you. stuart: hold on, don't go anywhere. mys read the script. remember when joe biden tried to shut down hunter biden laptop story back in 2020? roll tape. >> four -- five former heads of
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the cia, both parties, say what he's saying is a bunch of garbage. nobody believes it except his and his good friend rudy giuliani -- >> you mean the laptop is now another russia, russia, russia hoax, you've not to -- >> that's exactly what -- >> you know what? this is -- >> from what i've read and been told, the intelligence community warned the president that giuliani was being fed misinformation from the russians. and if we also know that putin is trying very hard to spread disinformation about joe biden. stuart: times change. bind tried to ap paint hunter biden's laptop as russian disinformation. now that laptop is the centerpiece of the prosecution's case against his son, hunter biden. now, there's a reversal. >> yeah. what the president, biden, said when it was just fun to -- fundamentally false. john ratcliffe, who was the director of national intelligence, briefed notten only the president, but the
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entire american populace and said it's not russian disinformation, it is legitimate. so the director of national intelligence with all of the assets came and definitively said that a lap atop is real. -- laptop is real. so, joe biden, you are lying in those interviews when you say it was somehow all these intelligence chiefs, the actual sitting intelligence chief said it was legitimate. stuart: it's a very tough moment for the bidenen presidency, and that's a fact. jason, thanks a lot. we will are see you again real soon. back to the market, the dow has cut its loss to a mere 19 points, the nasdaq is above 200 to points higher. lou basenese with me for the hour. you say the meme stock craze is just pure stupidity. that's a strong word. make your case. >> i don't like to be wishy washy. someone biases an asset that they know it's overvalued in the hope that a greater fool will buy it again. if i had a bunch of pennies and
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went on x and said i'm buying a penny for $5, they said, lou's kind of smart, and you say i'll pay $6, lauren says, i'll pay $7, when we know it's only worth a penny, these meme stocks are worthless. stuart: are theying being manipulatedded? >> 1000%. and this is what's most egregious to me. if you look at roaring kitty, go to finra broker check before you follow advice of anyone on a social media platform. it's a way to find out if they have any complaints, customer complaints on sanctions, regulatory sanctions, and guess who does? keith gill, roaring kitty has two from back in 2021. so this is manipulation where he knows he's going on as a registered representative, he's not keeping the best interests of investors in mind, and there are regulations, a few other suitability and know your customers that apply where he should be shut down. stuart: i'm sure you saw the jolts report yesterday, just over 8 million job openings,
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lowest total in 3 years, i think it is. >> right. stuart: could that give us a rate cut because the economy is kind of slow there? >> i think the medicine is starting to work, right? the medicine of higher rates is slowing down the economy, it's taming the jobs market. we're not there yet because we don't see tons of layoffs yet. it's a good step in the direction of cooling and a soft landing. i still think everyone's betting on a rate cut in september, i think it's november 7th, right after the election. [laughter] stuart: there's a very specific prediction. you're on dangerous ground with that one, lou. you're a brave guy too. stay there please for the hour. lauren, please tell me what's happening with boeing's stock following the successful launch -- lauren: on the third attempt and a decade in the making, successful liftoff for boeing's first mission to space with humans onboard the spacecraft. it actually just flew east of the jersey shore. the two astronauts will spend 24 hours getting to the international space station. they will dock there and spend 8 days there. stuart: there's the launch.
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lauren yeah. it's just so incredible to watch the liftoff. so far so good. stuart: it was a sackful -- successful launch in their third attempt. okay. what else have we got? lauren: apple's up 8 days in a row, just crossed the $3 trillion mark if once again. we just like look at a this video, don't we? [laughter] stuart: i do like it. lauren: and i want to tell you about a dollar tree. stuart: go. lauren: it was down, it is still down. look, the dollar store, that concept, they sell at different price points, offers value for all a sorts of customers. they are forecasting an annual profit below stills, and now they are -- estimates, and now they are reviewing their ownership of family dollar which is an underperforming chain they have also owned for about a decade. down almost 5. stuart: got it. lauren, thank you. coming up, merrick garland is worried about the potential for a terrorist attack in the u.s. watch this. >> i am worried about the possibility of a terrorist attack in the country after
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october 7th. the threat level for us has gone up enormously. every morning we worry about question. stuart: we'll tell you what else merrick garland had to say, the full comments. 15% of all a hotel rooms in new york city housing migrants. now tourists are paying the price. finish new york congressman mike lawler takes that on. and bill wells, the mayor of el cajon, san diego in california, he wasn't invaded to president biden's border announcement. he's here to sound off. he's next. ♪ ♪ daughter: hey, dad. dad: hey, sweetheart. daughter: what are you doing? dad: i'm gonna clean the fence. daughter: it's a lot of fence. dad: you wanna help me? dad: aim at the wall, but get closer. daughter: (gasps) what the?! daughter: alright. dad: side to side. when you work with someone who knows a lot
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♪ stuart: cities is and states run by democrats are spending billions of dollars to the to accommodate migrants. madison alworth has the story. madison, let's start with new york. how much did they spend on migrants this year? >> reporter: stuart, new york city is spending $2.7 billion in fiscal year 2024 on migrant care. that care includes things like housing, health care, education and food. it also includes programs like the one that hands out prepaid debit cards to migrants. that program alone, that's costing new york city taxpayers $53 million. now, with this executive action the hope is that the migrant now, it will slow. but the reality is millions are here, and those bills, they are not slowing down. chicago, they've spent $370 million in taxpayer money on migrant services since 2022. denver has allocated more than $70 million on their migrant
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response. many california the state -- in california, the state legislature is considering a bill that would allow the state government to begin hiring migrants. and in kansas city, missouri, the mayor there tried to move if migrants from new york city and denver to his city. but the attorney general, they shot that down. the state saying they prioritize lawfulness and legal residents. if. >> well, he got so much heat on that, he's backed away. but it does go to show you the competition among mayors like in kansas city or st. louis of who can be the most woke mayor in america. it's a real competition, and taxpayers suffer. people have had enough. hay work hard, play by the rules, they pay their taxes, they don't want illegal immigration. >> reporter: and, stuart, the reality is like i mentioned even with this executive action, it's yet to be the seen how much it slows immigration, if at all. the reality is millions of folks are here, and they are in our cities and states, and those
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progressive cities in particular, they're spending billions of dollars on the millions that are already in the u.s. stuart? stuart: they're here, and it's costing us a fortune. madisonal a worth, good report. thanks so much. now this, the white house invited a group of border city mayors to president biden's emigration announcement. the mayor of el cajon, california, bill wells, joins me now. you were not invited, sheriff, to the white house. is there a reason for that? [laughter] >> you know, i think my invitation probably got lost in the mail, because i can't imagine why he wouldn't want me there, you know? [laughter] stuart: right. >> the truth is i've been pretty critical of the biden administration. i mean, being on the border in california, it's hard not to be critical. we've got about 1500 people a day crossing, we've had 150,000 cross since october, and that's pretty significant. you know? it's hard kind of quantify what that really looks like, but in a city of 3 million people, that's a lot of people. if. stuart: what do you think of the
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president's border actionses? are they going to be effective? i mean, they were just announced yesterday. i find them complicated and very difficult to understand. how about you? >> well, i think they're intentionally complicated. you know, the truth is i think, obviously, it's pretty hard not to see that this is an election ploy. and, you know, i don't want to say that i'm not welcoming of some reform on this. i certainly am. but without more border patrol agents and without releasing those border patrol agents to actually stop illegal immigration across the border, we're just changing the seven you. the cartels -- the venue. the car cartels run the show. you saw that video from bill melugin of hundreds of people coming across in the dead of night. that's way out in the middle of nowhere in the country. and our border patrol agents are told not to even try to stop them. so the car tells are just going to continue their billion dollar business, and instead of having them present themselves for asylum, they're just going to
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sneak across every night. i don't think it's going to change a single thing. stuart: you're in san diego county, and san diego itself is once again a top entry point for migrants. more than 222,000 crossed the border since october1st, those are official numbers. why is san diego ab epicenter of migration? >> i think it's because california is such a woke state. i think california has a sanctuary state policy where we're not going to try to stop people at all. in fact, you mentioned that there's a new bill trying to give state jobs to illegal aliens? well, they already get free health care. we have a bill that says if you are an illegal alien, you can get 20% down on a house which our own citizens don't get -- stuart: what? what? >> you can even have a sex change -- stuart: wait a second, your honor. the state of california using taxpayers' money are will give 20% down payments to illegal migrants to buy a home? if did i hear that right? if. >> yeah, you did.
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[laughter] and, you know, what they're going to tell you, oh, it's no big deal because when they sell the house eventually, they're going to have the pay the state back. stuart: what? [laughter] >> the question is, you know, my kids having trouble staying in california because of the cost of housing. they can't come up with the 2,3000,000 they need for a house. this is pretty you big with bytous. stuart: your honor, thanks very much for enlightening me about this nonsense. that was priceless. thanks for joining us. i mow we'll see a lot of you again. thank you very much. i want to get moreen on california wanting illegal migrants to get taxpayer-funded jobs. are they nuts, lauren? lauren: apparently. so, yeah, and this also violates federal employment law. lawmakers in california do not care. the state assembly just passed assembly bill 2586 by 59-4. overwhelmingly. that would direct the university of california system, that's a largest agency of the state
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government, to hire -- to mandate the hiring of illegal immigrants. so now the bill goes to the state assembly. it could absolutely pass. and when you look at a where the border crossers are going, it's not el paso as much anymore because texas has cracked down. it's sand a yea bow because, guess what? you can get a state job and a pension. stuart: and a 20% down payment -- lauren: on a home. stuart: -- on a home for an illegal migrant with. lauren: that's craze a city. stuart: sometimes it blows you away, doesn't it? if thank you very much, indeed, lauren. ice officers have reportedly been given new trunks. >>s on how to -- instructions on how to operate on the border. ashley, what are they being told to do? ashley: well, i.c.e. officers are being told to look for signs among migrants of trembling, shaking, unusual behavior, changes in tone of voice even panic attacks, all credible signs that a migrant is fearful of returning to their home country and, therefore, eligible for asylum. it could also a indicate someone who knows they're trying to get
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into the country illegally, but i digress. according to a memo from acting i.c.e. director patrick lek liter in, physical signs are also being installed that seem to instruct migrants what to say to qualify for asylum. you can't make it up. sources told "the new york post" that they're skeptical the administration will actually refuse to process migrants' claims if they express a credible fear of being returned to their home country. stuart: i -- ashley: cue eye roll. stuart: cue eye roll, head explosion. good lord, ashley. amazing. thank you very much, ash ashley, great report. here's what's coming up for you, there's a new trend in the workplace called busy bragging. that's when you flaunt how much work you have on your plate. we'll rye to explain it. [laughter] i'm lost. i'm just too old for this these days. the migrant who shot two cops in new york is reportedly a member of a venezuelan gang. why was he ever allowed to run
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or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. stuart: have we come all the way a back to green? yes, we have. for a time there, the dow was in
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negative territory. now it's back up 4, the nasdaq never lost its big gain, up 200 topoints. lou bass niece graciously staying -- lou basenese has stock picks. it just so happens his first one is the russell 2000etf which shah ghailani shared with us this morning. >> kudos to shah. prices is what you pay and value is what you get. there's no more undervalued area in the market right now than small caps. the gap between large caps and small gaps is the -- caps is the biggest since the dot.com, bubble. i think we have the same setup that's happening right now. once we get clarity on the fed's first rate cut, small caps should shine. you've got to go with small to win big, by using an etf, you get 2,000 of them.
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stuart: yesterday there was a stock that came up that i'd never heard of and couldn't pronounce. it's this one, mongo do db. >> no affiliation with our firm, mdb capital, but this is a database as a service. company and and they have created -- the key innovation is a different type of database. it's document-based as opposed to relationship-based. it's ideally suited for a.i. in layman's terms, so a.i. is taking off a like a slingshot, the products and services that will run on a.i., it's about to get catapulted in terms of business growth for good services. again, it reported some weaker than expected guidance, stock sold off about 35% last month, i think it's a potential buy the dip opportunity. stuart: got it. thanks very much. new york city's controversial congestion pricing plan is now on hold. governor kathy hochul reportedly postponing the program until when? if. lauren: it could be indefinitely. we do not know, but it's not happening june 30th.
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she says this tax, this toll will hurt the recovery of new york city post-covid. but, look, it hurts her reputation too. folks in the tristate area kept calling, letting her know and letting their local officials know. so the e mta backing off the plan that would have is slapped tolls on commuters looking to enter the busiest parts of manhattan costing them between $15-36 a trip. also the political party, democrats are facing pretty difficult house races in the suburbs of new york city, and republicans were using the congestion pricing as a way to hit the democrats. it's unclear if this sees the light of day. maybe in 2025 or after november, but for right now it's not happening june 30th. stuart: lauren, good stuff. thank you. the migrant accused of shooting two new york city police officers is suspected of being a member of an infamous venezuelan gang. congressman mike lawler, republican from new york, joins me now.
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congressman, isn't this exactly what we were all worried about with an open border? >> absolutely. this is the consequence of sanctuary city policies, open borders and lawlessness. and, stuart, just like kathy hochul's standing at the white house yesterday for president biden's ec give order -- executive order after he created the very mess that a we're in, her congestion pricing scam that she just announced is nothing more than a political ploy in an election year. the reality is this,, we absolutely need to crack down on these illegal border crossings. since joe biden took office over 10 million migrants have crossed our southern border, most of them illegally. 90% have been released into our country. and when these asylum and parole cases are finally adjudicated, 70% are being rejected. so the reality is that when you allow people into the country, they aren't working, they're here on american taxpayer dime
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getting free housing, free health care, free education, free clothing, free food, and then you have people engaged in assaulting and shooting law enforcement officers, it is absolutely unconscionable that they're still here. they should be deported immediately. stuart congressman, i don't want to go too far off base here, but i would like your comment if on what california is doing. i don't know whether you were watching the show 10 minutes ago, but we learned that california wants to give mandatory insists that illegals get government jobs in california, and the taxpayer in california will give illegals a 20% down payment to buy a house. i just, i'd just like your quick comment. i know you're from new york, but i'd like your comment on california. >> california and new york are absolute dumpster fires under these governors. these governors are running their a states into the ground. it's why americans are are leaving new york and california in droves. they're going to states that are
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more free, less restrictive, have lower taxes and a lower cost of living. if you are going to give illegal immigrants credit cards, debit cards, housing, jobs, somebody is paying for that. the taxpayers are paying for that. and that's why these states are collapsing under the weight of their stupidity. these policies don't work. we are a nation of immigrants. we want immigrants to be able to come here to be able to participate in our economy. but they have to do so legally. when you have this situation where you allow the border to be overrun and then you allow your citiescommunities to be overrun and they don't have work authorization and they don't have the ability to pay for themselves, then the tax taxpayer has to foot the bill. that's why new york is collapsing. that's why california is collapsing. that's why they have billions of dollars in deficit and their tax base is shrinking.
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stuart: congressman mike lawler telling it how it is. thank you so much for being with us, sir. we always appreciate that. >> thanks, stuart. stuart: now this, attorney general merrick garland is, quote, worried about the possibility of aest attack in the united states. a terrorist attack. ashley, what did he say? ashley: yeah. well, he was yesterday if there is a legitimate fear of a terrorist attack especially given the fact that millions of unknown migrants have crossed into this country. watch his reply. >> my greatest fear is that we could face a coordinated terrorist attack from elements among the millions who have entered the this country illegally over the last three years. is this fear justified? >> i am worried about the possibility of a terrorist attack in the country after a october 7th. the threat level for us has gone up enormously. every morning we worry about this question. we try to track anyone who might be trying to hurt the country. of course this is a priority, a
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major priority for the justice department. ashley: yeah. garland went on to say that there has been what a he called a terrible explosion of anti-semitism since october 7th along with anti-arab and anti-muslim threats that make all of those communities afraid. stuart: thanks, ash. coming up, one restaurant owner in los angeles says strict covid guidelines had a devastating and lasting impact on the industry. listen to this. >> what people don't understand is people are still going out of business from this. this is -- it closed 30 of the restaurants in -- 30% of the restaurants in california. stuart: chef andrew gruhl will be here. but first, we're talking the etiquette of unexpected phone calls. is it bad manners to make a surprise phone call, or should you text first? we'll get lou and lauren's take on this next. ♪ ♪ -- just want something to do.
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stuart: the nasdaq, by the way, is at a new all-time record high, and look at the winners, asml holdings, crowdstrike, lam if research, they're all up sharply on the nasdaq. now this, first, there was quiet quitting. now there's a new workplace if trend, busy bragging. okay, ashley. explain what -- [laughter] busy bragging is. ashley: yes. it means oversharing your workload with office colleagues and managers. busy brag withers apparently tout their career accomplishments whether big or small, well, to appear more professional. career coaches say it all a stems from worker not feeling valued or recognized for their work. oh, dear. but, beware, busy bragging could negatively affect a person's relationships with colleagues. some social media users agreed, with one saying, quote, watch out. it doesn't impress people. it makes them think you're
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incompetent and unlikable and decreases the likelihood that they will help you out. i'd like to tell you more, but i'm too busy. [laughter] stuart: oh, very good, ashley. lou and lauren, what do you think about busy bragging? >> cry me a deliver, we're all a busy. i've dealt with this recently with an executive. we all are. it's about prioritizing. there's a great bookie call -- book by call newport that says we should be focusing on the work that -- we're all busy. stuart: that was a very good response. ty i coknow this question was coming on? >> no. stuart: busy brag. lauren: oh, those people are annoying. i preferred modesty. to your point, everybody's always busy, you don't have to to tell us about it. it's like they're trying to justify their worth. stuart: i'm passing no judgment on this. i'm moving to the next debate which is more important, in my opinion. whether or not it's appropriate to call someone out of the blue. ashley, get you on this first.
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i've got a real problem with people calling me out of the blue. i alls text first -- i always text first. how about you in. >> well, my original script. said this, quote: i guarantee stuart varney absolutely hates surprise phone calls -- [laughter] and lets its go straight to voicemail. and, guess what? if i'm the same way. it appears that phone call it etiquette these days have never been more complicated. more and more people believe you should send a text first otherwise it's simply unacceptable. critics say it's ridiculous to have an unwritten rule that a phone call must be a planned event, but apparently how you feel is generally split along general asian aal -- generational lines. those who grew up with land lines, remember those? they're not as troubled by an unannounced call while people who have been texting since high school, they do expect a heads up. if i don't recognize a number, i don't answer it. that's my answer. back to you guys. stuart: i just never answer. if you really want to contact
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me, call me and leave a voicemail. ashley: there you go. stuart: i just don't like unannounced calls. i never make unannounced calls. are we okay with this? lauren: no! that's cold. >> i'm too busy to to send a tex first. [laughter] i'm okay with surprise calls. doesn't your mom love to hear from you by surprise? it's generational, i get it. if you're used to the scripted back and forth of text, you don't want the surprise -- lauren: i love when i see on my if phone if an old friend's name pop up. i can't wait to pick up the phone and we can with just get into it. i love it. but it's also sometimes scary. i'm, like, why is this person calling me? i haven't spoken to them in a long time, but i welcome it. stuart: i don't like free-ranging conversations because you never know how to stop them. lauren: i gotta go. stuart: i'm good for 30 seconds, and that's it. [laughter] text. always text, okay? lauren: so scheduled. stuart: we want to hear from you at home. is it acceptable to phone -- to call someone without sending a
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tech first? lauren: yes. stuart: it's not. send your e-mails to varneyviewersfox.com. you might see your response during friday feedback. we're going to yet a lot of response -- lawyer large i'm calling in tonight. >> we need boxing gloves -- lauren: i'm calling you tonight. you won't answer. do you know how to block me? stuart: actually, i don't. i get dozens of calls. i made the mistake of giving to charity in a phone call. i get with sick or seven a day from chair a cities wanting my money -- charities wanting my money. of it was a mistake. it's that a time, get me out of this, show me the dow 30, sense of the market time. i sense it's an even split. the dow is up 50, just about the same number of winners as a losers. next case, california's $20 minimum wage forced a popular chain restaurant to shut down abruptly almost 50 of its locations across the state. are are we going to see more restaurants follow suit? celebrity chef andrew gruhl
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♪ ♪ stuart: you see that a graphic? california screaming? restaurants in california are still feeling the pain of covid shutdowns and restrictions. watch this. >> it's very traumatizing. it makes you very angry. i mean, what people don't understand is people are still going out of business from this. this is, it closed 30% of the restaurants in california. and the way he said it, it's just -- i don't understand. isn't there any liability, any responsibility that anybody is going to take for this? it destroyed our industry. it's very confusing. stuart: joining me now is celebrity chef andrew gruhl.
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andrew, thanks very much for coming back on the show. is it really that bad, 30% of restaurants in california closed? >> yeah. that number actually seems even low to me. but, you know, the pandemic, obviously, kicked off this astronomical firestorm of chaos that a now we've seen reverberate and grow many lives of their own in regards to the the all this chaos especially across the restaurant industry. stuart: so do you blame fauci? [laughter] was the 6-foot distancing and the mask wearing and the shutdown completely, do you blame him? >> yeah, i mean, i don't personally hold the animosity towards him as the only architect of this chaos, but i would certainly say that if he was, you know, the man with behind all of the science and the science was constantly held in front of our faces to justify everything that a we have had to go through and he sits there and there's absolutely no reckoning when we watch him on the stand, you know, a couple days ago, no reckoning ott at all. he's double downing on all of his decisions, and there's not
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going to be culpability then, yeah, to some degree i blame him. and it's kind of everybody pointing the fingers at a everybody else saying, no, they did it, they did it, but we did the right thing. and here are businesses, restaurants and retail in general and all a these small business owners that haven't recovered as a angela mentioned in that previous clip. but it's only getting worse, right? it's constantly getting worse and worse every single day. stuart: the mexican restaurant the chain, rubio's coastal grill, they abruptly shut 48 locations in california, and they blame the rising cost of doing business in the state. i presume that that $20 minimum wage in california, that's cutting way into your profitability, right? >> yeah. well, i mean, you know, like you're baking a cake, there's many ingredients, and that's certainly one of the key ingredients, the cost of labor. if we want to isolate it, it's really crt. and in this case, crime, regulation and taxes, you know? allowing all these crimes has
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really ripped apart the social fabric that we know of as the foundation of businesses, and businesses have had to suffer because of all the crime in their surrounding communities. business goes down, the regulations have piled up. it's almost as if the bureaucrats sat at home just trying to make up, you know, insignificant regulations that restaurants and retail would ultimately have to follow. and then taxes. i mean, you can't tax your way out of this, but for some reason the governments continue to think that they can, and the businesses and restaurants are the ones that are ultimately paying through that black hole from. >> there's never an end. stuart: how are you dealing with this? are you hiring fewer people? >> well, you've got to be more efficient with your operations and, you know, you've got to increase prices, but it's always a balance. as you know, in the business world sales solves everything. if you start increasing your prices too much, you're not going to have the sales that solve a loll -- lott of those fixed cots. -- costs. and i would say in regards to rubio's, that that's a big piece
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of it. if they were paying their workers $17 ab hour and they're up to 20, that's only $120000 -- 1200 a week, the payroll taxes make it at least $5-6,000, 52 weeks over that's $3000,000 a year. stuart: i will keep my one restaurant in california, i'm going to franchise out of the state, and i will not open another business in california until they fix things on a go-forward basis. stuart: good luck with that. andrew gruel, thanks for coming back on the show. you've got a good story to tell. >> thank you. stuart: okay. come back into this, lou. what are your thoughts on a $20 minimum wage? >> i think politicians are their own worst enemies because that just she accelerating -- reaccelerates inflation. you're making it harder for people to be in business. it's supposed to be an entry wage to move you on. we should be investing tax dollars to help people advance through different careers and moving up. just or ash a temporarily raising the minimum wage doesn't
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fix runaway price, runaway inflation. it actually raises prices which means you've got to keep coming back. it's a nas the city, negative -- nasty, negative feedback loop. stuart: i was shocked that 30% of the students -- restaurants closed in california. all right, there's to another story, and this is your, i think, restaurants are ditching the digital men -- menu,, the qr code? lauren: yeah. that little thing you scan -- stuart: i like it. lauren: well, it was a covid consequence, right? you didn't want to touch the same paper menus as everybody else, so the restaurants adopted this, but a lot of people complain. they say it doesn't always work, if they don't have wi-fi, it's an issue, they can get hacked. so high hybrid seems to be the new way, every restaurant will have the traditional a menu expect qr code. lauren: stuart: thanks, lauren. when was the original superman comic released? 1938, 1943, 1948 or 191952?
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if -- 1952? the answer a when we come back. ♪ ♪ it's odd how in an instant things can transform. .. (the stock market is now down 23%). this is happening people. where there are so few certainties... (laughing) look around you. you deserve to know. as we navigate a future unknown. i'm glad i found stability amidst it all. gold. standing the test of time. over 400,000 people with afib have left blood thinners behind with watchman. a safe, one—time implant that reduces stroke risk and bleeding worry, for life. watchman. it's one time, for a lifetime.
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>> another killer question for a sturdier team. when was the original super command comic release, 1943, 40, 52.
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ashley: i will go with the earliest one, 1938. >> 1943. >> i wasn't born during any of these answers. 1948. stuart: i was born in 1948. stuart: you got it right. the man of steel was introduced in june 1938 in action comics number one, created by jerry siegel and joe shuster. superman is known as the first superhero. so now you know. lauren: there's a lot of superman in my house. my son is 6 and he is into superman. stuart: out of time. >> 3

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