not even close. it is basically a potential -- liz: we can agree it's a huge question mark. it may go down but we are looking at a company -- it is still 39%. it didn't go up. it might never. you can hang these people out to dry because they invest in it. you can't hang them out today because they invest in it. thanks for weighing in. that was fun. the closing bell comes and while stocks are in the red for the session they close higher for the week, that will do it for "the claman countdown". kudlow is next and don't worry about me and charlie. we are friends.

larry: welcome to kudlow. i am larry kudlow. the jobs report came out, top line number looks good but under the hood some bad numbers. vivek ramaswamy on that in a couple moments but first, jonathan hunt in los angeles with the latest on president biden's border catastrophe. what can you tell us? >> reporter: three days into the biden administration asylum rules, there appears to have been no discernible effect on the numbers of migrants crossing the southern border illegally. new numbers provided by customs and border protection sources show there were 3800 illegal border crossings yesterday far above the 2500 total that is supposed to trigger automatic deportation under the new biden policy. fox's border team sees an

unrelenting flow in california migrants from all over the world telling bill melugin they love america and are looking for better lives. >> from egypt? from egypt. >> go to america? why did you come to america? >> business and the group. >> you want to work? >> yes. >> reporter: you want a job. >> yes. >> america good. >> reporter: all from china? why did you come to america? >> to be free. >> reporter: under the new rules announced on tuesday and put into effect immediately almost all these migrants and any crossing illegally anywhere along the border should be subject to quick deportation. we've seen no evidence of such mass deportations.

our cbp sources tell us that on wednesday, the first day of the rules being in effect, 1000 illegal immigrants were released into the us in the san diego sector alone. the president is marking the dj anniversary in france, a country that has a well-known saying. the more things change, the more they stay the same. seems a pretty apt description for these new border policies. larry: thank you very much. all right, we will move right along. always look under the hood which that's the subject of the rift. if you're going to buy a preowned used car like many have to do nowadays you can't just be impressed by shiny new paint job. instead you got to look under the hood, got to check out the engine, the oil, battery, brake

fluid and spark plugs. today's release of the jobs report is much the same. the shiny new paint job was a significant 272,000 increase. nearly half of that was government and government related jobs, that's what the nonfarm payroll showed. however, when you lift up the hood, what use is an incredible 408,000 job loss from the household survey. what is the difference between the two? the payroll establishment survey is mostly larger established companies, the bureau of labor statistics dials that human resources department and gets a job. but the bls mainly calls families and individuals to ask if they are employed or not. traditionally the household survey is more heavily weighted

towards small businesses. and actually, over the past year, has produced only a tiny 31,000 increase in jobs. under the hood, the civilian labor force shrunk by 250,000. as a consequence, the unemployment rate notched up 24% and another key indicator of labor force is the employment to population ratio, stalled to 61%. the late great labor economist ed lazear, longtime professor at stanford university, pointed to the employment population ratio as the single best indicator of labor market strength, a mentor of mine. the employment population ratio

reached 61% higher, the peak in that ratio was 64.-- 64.6%. the point here is more people ought to be working. my guess is among the many complexities of the story, federal and state governments more and more are offering overly generous benefits not to work. there is more concerned with these job numbers. once again, full-time jobs fell in may. and this is a long playing record, hard time jobs gained 286,000. the federal reserve plunging,

surging, there cannot be a healthy economic sign. in may alone, 414,000 immigrants, both legal and illegal gained jobs, 663,000 native born americans lost jobs. this pattern has gone on for some time, a trend line accelerated significantly during the biden years. the biden affordability crisis, if you call through the numbers of the past 12 months, the combination of average hourly earnings for production people, working folks, hours worked, and that income number comes to 3.4% increase which is the same as the consumer price index, they are not getting ahead of

the ongoing inflation. over biden's entire term real wages have fallen for all these prices have exploded. we look at these car parts under the hood, frankly i think folks are going to buy a much better model, one which has lower taxes, deregulation and drill baby drill. we have to find a car that suits all that. joining me now, vivek ramaswamy and great trump campaign surrogate, welcome back as always. give me a quick take, you heard the rift about the jobs report, you ever thought about jobs in america today? >> they fluff up the job numbers by shifting more to the

government sector. the question is what the actual goals are. on the one hand it could be economic growth and if so they are failing miserably but that is not their goal. the goal is expansion of government control of the economy so it makes sense that though they prop up the job numbers more of those jobs are driven by the government, you get exactly what you are shooting to achieve so that is the net summary, there are basic facts for the last four years that voters verbalize to make clear. prices have gone up. interest rates and mortgage rates have gone up but wages have not picked up the pace. that's why they reject the fallacy, how they have been affected and economic growth can be a unifying agenda. democrats have rejected it. republicans once again unapologetically embrace that as the message and we will unite a lot of americans regardless of partisan affiliation if we do.

larry: prosperity is always a tremendous unifier across all lines, ethnic lines, political lines, donald trump in phoenix on thursday talking about economy and taxes. >> we had the greatest economy in history during that short period of time, the greatest in history, the greatest jobs, greatest tax cuts, the biggest tax cuts, biggest regulation cuts. everything was good but i am telling you that this election coming up november 5, 2024, is going to go down as the most important day. if we don't win, it is all of us, millions of people, if we don't win this country is finished. i really believe that. larry: i would say he is on message. the point you just made about the unifying effects of economic growth, a point i have

worked on my entire career, he is on message for this point. what do you think? >> i agree with you. success is the unifier, biden ran on the campaign of national unity, he has failed or we wouldn't be where we are. we are in 1776 close to 1776 or 1860 type moment in this country. the question is are we one nation today or not? i believe we are. we remind americans of that through our own success, reviving the sense of american exceptionalism. vote for the revival of economic mobility and the american dream in this country and donald trump's message and the america first message is resonating broadly not just among traditional republicans but from the south side of chicago to nontraditional audiences across the country now coming to our side it is because they understand they want a better life for their

family and their children play, that goes beyond traditional partisan politics and i think trump is doing a great job staying on message but it is on message for what is true in this country. we are one nation but also skating on thin ice and the guy who ran on national unity, fire the guy who failed and put back the guy in the office that got the job done for four years, makes us one of the most unique collections in american history, it is a once in a century opportunity you get to compare is a vote of the records of two people who have been president back to back. grover cleveland, last time we had that opportunity. let's ease it this time and put back in office the guy who got it right 2016-2020. larry: we had a report from jonathan hunt on the west coast in los angeles and we are tracking this, bill melugin is talking about this.

illegals continue to come in. a new executive order with lots of bells and whistles but they are still coming in. 2500 a day, 3800 illegally yesterday, 3800, nothing is happening, border patrol is letting them come through and releasing them into the interior of the country. we have catch and release, i don't get it. what is the biden executive order doing if anything? >> one thing precisely and that is providing campaign talking point for president biden. he had four years to fix the border and failed not because they didn't know how but they didn't want to achieve the objective in the first place. they see that as the opportunity to convert a long run democratic voter. they haven't had the incentive, now the incentive structure shifted to create the appearance, i would argue the illusion of doing something about it. that's what's going on. you want to fix the border

crisis fix the incentive crisis at the heart of it. aid to any central american country, move our military to the southern border, use aquatic barriers in the rio grande and birthrates addition for the kids of illegals and tell everybody clearly that if you are in this country illegally you will be returned to your country of origin. it is logical, not racist or is he in a phobic but logic that says if we had the largest influx of illegal migrants in american history, we will require the largest mass deportation in american history and if you want to come to this country the right way through the front door and are going to make contributions to this country and love the values of the united states then you deserve a legal system to come to this country the right way. we deserve that actually. it's about american citizens and our best interests but that's a separate issue from sealing the border which is what biden has failed to do everything else he's claiming to do now is a smokescreen to try to inch past the finish

line. larry: we got to deport the criminals, this venezuelan kid who was part of a big venezuelan gang who shot two cops in new york in queens earlier in the week, looking at my notes for the name of the gangs, can't find it but these gangs should all be deported and people, i know you are a criminal when you cross illegally but people here with criminal records who are killing people, young women for example, shooting cops, as part of any reform, your heart is there in your head is there, we've got to deport these criminals. >> absolutely understanding fact, there are over 1 million people in this country who had a final order of removal, they have gone through the entire appeals process and the judicial system offers them no more appeal after years, there's a million of them still in this country now so the

reality is the executive branch including department of homeland security and other parts of the us government have the power to do this, to use different parts of the law to co-opt local law enforcement to use other parts of the federal code, use the national guard and other resources to deport those who are here illegally and criminal, failing to do it now but that's a fixable problem but the best border policy of all at this point isn't passing a new law through congress but elected donald trump as the next president and if we get that done in the right people to get this done, this border crisis is going to be behind us, that's the bottom line. larry: trend, trend, trend are agua, they are the gang from venezuela, a lot of members here out to be deported, you are right, 2807g will give border patrol the authority to go to local cops, breakthrough sanctuary city and send them out of this country because

they are criminals killing people, spreading drugs and whatnot. so lovely to talk to you. just today i heard just today the epa is putting out now miles per gallon standard of 65, 65 miles per gallon which in effect would ban gasoline powered cars and 80% of americans are opposed to this, 70, 80% want consumer choice on gasoline, not persuaded about evs and today the epa put out 65 miles a gallon which is unapproachable if you have a gas powered car. the pointy-headed bureaucrats from the best colleges in the country are wreaking havoc on ordinary working folks. what do you make of that? >> the deep state at its

finest, the people we elect to run the government are not the ones running the government. the epa was never elected by the people of this country, none of the bureaucrats were. how do you square that circle? 80% of americans don't want it and they elect representatives to congress who they would vote out if they voted for that policy. that's why the epa is getting done through the backdoor, what the government could not get done through the front door through the constitutional law making process. that is illegal, the supreme court slapped the epa on the west with west virginia versus epa in 2022, held a lot of regulations for the coal industry unconstitutional, i think these regulations are unconstitutional and the right answer to the deep state can't be incremental reform, got to shut large swaths of the federal government down, sent many of these bureaucrats home packing and rescind all of these unconstitutional federal regulations. that's one of the ways to grow this economy and unite this country. problem of the deep state is not a theoretical issue, it's

affecting the lives of everyday americans and we are done with it. larry: vivek ramaswamy, one of these days i want to talk to you for the entire hour. we will talk to you the entire hour of the show. terrific for giving us your time on friday, thank you for your wisdom, we will talk soon. we are going to take a closer look under the hood of the jobs report. we got breitbart's john carney and taylor riggs, all that and more. i am still here. i am kudlow. be right back.

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larry: let's look under the hood of today's jobs report and i don't think the federal reserve will cut rates in my lifetime. i've got some company here. john carney of breitbart and taylor riggs of "the big money show," john, no rate cuts. you think this was a stronger number, you are looking at the chinese paint job on the front of the car. >> the shiny paint job when looking at levels, when you are saying did jobs go up or down you got to look at the

establishment survey, that is what it has been used for for 50 years. it is really good at that. the household survey is great for rates so if you want to measure the unemployment rate, looked is that. i want your point that a lot of people have left the job market altogether. that is happening. a lot of that is people retiring early. people went through the pandemic, retired early or prepared to retire early. larry: i don't disagree with you but it is a very complex issue, employment to population ratio the late great ed lozier, i won't say pioneered about it should be higher for whatever reason. all i am saying is i think covid had a lot to do with -- i

also believe that still today the big government socialism approach, federal, state, local governments are paying generous benefits to people who are not working. taylor: and interesting notes at all the jobs that has been created in the last few years have been part-time jobs and not full-time jobs. you can talk about companies pulling back saying we can't afford to pay full time or pay part-time or have to work two part-time jobs to make ends beat, there are things under the surface that make me nervous. talking about household survey, in the last few hours, the bureau of labor statistics, they have to reduce the number of households in their survey because people aren't responding and have costs that are rising get. >> too expensive to check how many are working these days.

larry: it is unbelievable. 60,000, the payrolls are 150 or 160,000 but the unemployment rate comes from that. they are making phone calls to people and families. i don't think a lot of illegals will say that is who i am. i don't think, it is disturbing to see the foreign-born thing is exploding in the native thing is falling. i don't know all there is to know about this and that all the foreign-born workers are illegals. >> counting the foreign-born workers because they are not answering the phone, not actually being included in household survey, they are probably higher than the surveys. larry: you've got a lot of illegal immigrants who somehow get green cards, this crazy

system that is broken at the border is having an impact on the jobs numbers. from the standpoint of the marketplace, i didn't see much action today. taylor: no action in the equity market but a lot in the bond market. so really -- all across the board, you pretty much got 10 to 15 basis point increase as people reevaluate no cuts, higher for longer, let's recalibrate, jpmorgan, citigroup extended their july cuts. maybe september, december, something we knew on the program. inflation is very much a problem. larry: that's the whole problem. you are sitting next to mr. no rate cut.

he could change his label on the intro. >> wouldn't have gotten there without your clear advice. we won't see any cuts. one of the things that was funny about citigroup and jpmorgan is they pushed 6 months, the rate cut is 3 months and 6 months away forever. never get into the data to cut rates, the fed has to look at the numbers again. you can say okay, maybe they aren't as good, we cannot possibly cut, even the jobs you and i know aren't really cyclical the talk about the strength of the economy but add to demand, the government adjacent jobs where people shopping and buying things is inflationary pressure building in the economy. larry: i use your calculation,

270, the fed can't possibly cut like that whether it is good, bad, indifferent. almost half are governors or government adjacent. the private sector, the goods producing part of the private sector, a.k.a. particularly manufacturing has gone nowhere. 8,000 jobs, 6,000, the month before-6000, 12 month average of manufacturing jobs, 2000. we are not building stuff. the government is spending money to have us build and no one is using it, very bizarre story. taylor: a lot of young people are leaving the workforce. the time of year, it is worrisome when you see younger people leaving the workforce. >> they are in their gaza camps, couldn't take a job. 25-year-old. >> cpi and a fed meeting, the

cpi the next week is irrelevant because the fed can't cut regardless regardless of the cpi slows down or not. larry: a step back looking good big picture, regularly scheduled election november 5th the. >> it's bad for biden because the fed can't cut. they really needed the fed to affirm that inflation was coming down, we beat inflation. can't do that now and the american people expect the labor market to do well. all the surveys, unemployment is much lower than immigration and inflation. people aren't worried about unemployment. larry: fed said they were going to cut rates. >> they are pushing hard and won't get it.

larry: you guys are fabulous. john carney and taylor riggs the. catch taylor with brian brenberg and jackie deangelis on "the big money show" on fox business. it is simply a terrific show. coming up on kudlow, the smart vegas money is on trump big time. we check the odds. charlie hurt, sean duffy, i am still here, i never make the prompter. stick with kudlow. we will be right back. (bell ringing) limu, someone needs to customize and save hundreds on car insurance with liberty mutual. let's fly! (inaudible sounds) chief! doug. (inaudible sounds) ooooo ah. (elevator doors opening) (inaudible sounds) i thought you were right behind me. only pay for what you need.

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larry: day 5 of the hunter biden gun trial. what is cooking today? >> reporter: hunter biden's legal team has decision to make

today, tomorrow, or sunday. abby lowell said he's done calling witnesses, the only witness he would call on monday before wrapping up his case would be hunter biden himself. that's always a possibility. earlier an emotional moment from hunter biden and his daughter naomi biden took the stand, the granddaughter to president biden, naomi biden is named for hunter biden's late sister, the little infant who died in 1972 tragically in a car accident with hunter's mother, that is her on her way into day. she's a lawyer as well. naomi biden painted a picture of a clear minded, hopeful hunter biden when she saw him in late summer 2018, weeks before he allegedly committed a crime by lying on a federal gun form on october 12th tuning 18 - 2018.

the prosecution said hunter biden lied on his form. naomi biden said her dad, she saw him several times in 2018, she knew he had drug problems, she knew he had problems but she says he was clear and he did his best. first lady jill biden flew in from dj events to sit in court only to turn around tonight to fly back to france for a state dinner with her husband and the french president tomorrow. on the gun form, the chief piece of evidence in this entire case, hunter biden filled out that he was not addicted to drugs when he made the gun purchase. there was a no check in the no box. one of the witnesses saw hunter biden check no but abby lowell put some doubt in their minds. and filled out different parts of the form, trying to say

there was sloppy paperwork done? if hunter biden takes the stand, it opens him up to prosecution. if he doesn't take the stand shores will get this case probably on monday and we can have a verdict on monday as well. stuart: you broke news all week long. i appreciate it very much. we move from wilmington, delaware, talk a little politics with two of the best of the best. fox news contributor, sean duffy, former distinguished house member. we never put that in and cohost of the fabulous show the bottom line. the election betting odds, put a couple bucks in player.

postconviction, trump 53, biden 37. it doesn't look like the house and brag baloney had much impact. >> i trust the betting odds more than i do the polls because you can get a poll to say absolutely anything but when you have your money on the line that's a different thing. who determines the outcome of an election? people. they have a good sense of it. this has backfired massively. by the end of the trial you had republicans from all over the country to show up in court with donald trump to be associated with the trial that was supposed to be so humiliating it was going to destroy donald trump. larry: a legitimate house meeting. outside the courthouse. >> and at the same time you have democrats trying to distance biden from the trial

saying he had nothing to do with causing the trial to happen. it has backfired and people who don't like donald trump are looking at this and realize how unfair it is and disgusted by it and i want people to look past all of this and look at the issues because donald trump wins in a walk if it is on the issues but clearly this is going up in their faces. larry: sides of the betting odds, polling information is very interesting. trump with a wide lead, i posit this to you, trump is going to win the sun belt states, arizona and nevada probably for immigration catastrophe if nothing else, north carolina, georgia, georgians are coming to their senses after the 2020 debacle, the great lakes left,

michigan, wisconsin, pennsylvania, my hypothesis is it is going to come down to pennsylvania which happens to be a drill baby drill oil and gas state. shale in pennsylvania and it's a massive job gainer in pennsylvania. not saying he will lose the other states. not smart enough to know. you have a senate race with bob casey junior and david mccormick. david mccormick, most improved player of the year award. >> as a wisconsin guy is wisconsin goes so does the blue, and look at the polling, donald trump is up 45% with hispanic voters in arizona in nevada. the last election in the low 30s.

donald trump is up 30%. it is 20%. what is interesting is the youth vote under 30, those are traditional democrat voters, this is the biden base, donald trump is winning the youth vote. so -- back to the betting when you look at wildwood in new jersey and the bronx and you see the energy when the trial was going on the betters are going something is going on the media is not talking about. larry: they are showing up you shouldn't be showing up, the most amazing thing about these rallies. in the news today, yesterday, trump campaign letting people know people are being vetted for vice president. what do you make of it? you are covering this from washington. >> for donald trump the most

important thing is getting somebody who gets hemant somebody who is he feels like can carry on the america first mantle. one of the people that's interesting is the idea about doug bergram, not in the oil and gas business about a crash course senate and as knowledgeable as anybody is because of american ingenuity, making north dakota and energy states, great communicator on it and if donald trump wants to make this all about gas prices that's a way to do it and gas prices affects don't care what color your skin is and i don't care how old you are, gas prices affect young voters, they've got less -- larry: when i was a child i worked for reagan but in that campaign, young people

so-called deserted jimmy carter, deserted the democrats voting for ronald reagan, 15 seconds, all i got, 15 seconds, is marco rubio surging as a vice presidential candidate? >> i got, doug bergram, marco rubio adds to the ticket and will get loyal. got to be the vote, so much disloyalty in the last administration. larry: you got to watch sean, dagen mcdowell, bottom line tonight, 6:00 pm eastern, every night is a terrific show. is silicon valley advancing president biden? david sachs all about that next.

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larry: a fascinating story, donald trump can money and support from silicon valley of all places. investor and entrepreneur david sachs, thank you for coming on the show. i want to read you a little fun

but get your take, one of our digital stars, brooks sayingman interviewed donald trump ended read trump touts silicon valley support, says tech leaders can't relate to low iq biden. i have a high iq, period, end quote. what do you make of that? >> there's an old saying come many a true word said in jest, he says funny things but there's a serious point, no comparison between the cognitive abilities of these two men. what we saw last night, a fundraiser for donald trump, sharp, on the ball, stayed for four hours and talked to everybody, the whole crowd, everyone loved him and at the same time you saw biden at that d-day event and looks like you couldn't keep up with what he was doing. there is no question about which of these men is

cognitively sort of more with it and intact. larry: he reportedly raised the $12 million, a nice piece of change, you can do three or four times as much in the next few months. how many people were at your event? >> 100 people. when we agreed to do this event, we started with whether we could raise $5 million and that was the goal. it's a liberal bastian. it might be a big lift. we got all the way to 12. tremendous turnout and couldn't fit one more seat in the place. wasn't just the enthusiasm in the room but also outside the room. san francisco publications are writing about big protests in san francisco because trump was coming to town. hundreds of people turned out in the streets but they were pro trump demonstrators

welcoming his motorcade and the number of anti-trump protesters was a handful of people. even with the protesters was tremendous enthusiasm gap between the pro trump side of the pro biden side. if that is in san francisco what does that tell you about the rest of the country? larry: we've had similar experiences in new york. i hate to generalize but what do you think the key issues? we have a minute and a half, and 1/2, list a couple key issues you think are moving silicon valley folks into the trump camp? >> number one, the economy, down to one. 3% gdp growth, a huge spike in inflation, the purchasing power of americans by 20%. interest rates skyrocketed in response to that.

and the world was at peace under donald trump, you have the border. at the fecteau open border under president biden, in spite of videos, now signing an executive order to do so but it's too little too late. not just silicon valley but lawfair, it's un-american to lock up your political opponents, never seen anything like this before. they were reacting to political prosecution like that. that is turning across the country with the biden administration. larry: you are going to raise more with a hard break, silicon valley, david sachs, thank you

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larry: yeah, so is, folks, you want a new car, you gotta look under the hood. look for tax cuts and deregulation and drill, baby, drill. i know a car model that has exactly those parts in it. think about it. and anyway, i know liz macdonald likes to look under the hood for a good spark plug or two. hi, lizzie. elizabeth: i wish i knew how to fix a car,