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peter morici, very instructive stuff and we appreciate state queens.re you'll be watching tonight. >> oh, yeah. stuart: the financial accounting board wants everyone to know how much workers are getting paid. ashley, tell me more. ashley: yeah, the new rules mean that u.s. publicly traded businesses must provide employee compensation details in the footnotes of financial statements. for example, with the cost of goods sold, companies also have to provide how much of that expense item is spending on salaries, bonuses, share based payments and medical and pension benefits, but they won't have to give a total employee compensation figure. the rule is intended to help investors better understand company's operations through wider disclosure, but some have pushed back saying it'll be costly to carry out and basically deliver little benefit to investors. but the requirements are set to go into effect in 2027. stu. stuart: thanks, ashley. coming up, hillary vaughn tries to get answers from democrats about the murder of jocelyn nungary. congressman lee's respo

come on in, peter morici. concerned, is the economy improving? and as far as voters are concerned, is the economy improving? >> i guess you could say that it's improving because it does continue to grow, it does continue to generate jobs, and inflation is down to 3% plus as opposed to 6 plus. so those are good things. the question is, are they better off? investors surely are. and if we don't have the kind of crash your co-panelist is predicting, they'll remain better off, and i don't think that we will. we may have an adjustment. but ordinary working people, the fact is that wages are lower now than the day that in real terms than when joe biden took the oath of office. if you contrast that with donald trump, oh, the terrible racist donald trump was, real wages were growing for everybody. minorities perhaps most of all. their wealth was increasing and so forth. with joe biden the real elements of middle class life keep getting further and further away. you can't buy a house, you know? you can't send your kid

we'll see if economist peter morici agrees with that. next.ws we brought you at the temperature of the hour, the judge in hunter biden's gun trial has announced the jury has been found guilty with on all three counts. to repeat, the irony here, president biden will speak about gun control later on this afternoon. we'll bring you more on this as it develops. yahoo! back to the markets. we still see plenty of red ink for the dow industrials. we're off 214 points there, and we've got a smaller decline for the s&p 500. the nasdaq actually has moved to the upside. mike murphy's with me, or and he's brought with him, fortunately, some stock picks which have been very good in the past. netflix. >> netflix. so if you look at them here, stuart, it's about 644, down from a recent high of 660-670, i think they have a lot of pricing power, and now they're getting -- the knock on netflix has been no live sports. now they have live sports, they have a deal coming with the nfl, so this is going to to get them more subscriber, it's going to enable them to inc

peter morici, economist and business professor at the university of maryland.s getting better. wages have outrun inflation. a lot of this is how you look at it. real wages are down by 3. 5%. inflation at 3% more than wages. it is easy to say he create a lot of jobs when you take over and the economy shut down because of a pandemic, just open the door again and you are a miracle worker. the reality are real incomes were growing with donald trump and not growing with president biden. the reality is president biden has lower unemployment than donald trump has. add it up and there are points on each side but as an economist, i'm trying not to be partisan here, donald trump had a better economy. paul: in terms of inflation, isn't that a function of consumer spending? that increased the if that cools off, will inflation go down? >> the idea is to cooled off by getting consumer spending down but doing it by making life unaffordable. people are spending more on groceries today than they have in years, they can't afford to go to restaurants and so forth. inflation came

peter morici on harry dent predicting a market crash in the 2008 crisis, the wall street journal allysiaden's policy decisions. the 11:00 o'clock hour of "varney & company" is next. ♪ trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders. and with guided learning paths stacked with content curated to fit your unique goals, you can spend less time searching and more time learning. trade brilliantly with schwab. moving forward with node-positive breast cancer. my fear of recurrence could've held me back. but i'm staying focused. and doing more to prevent recurrence. verzenio is specifically for hr-positive, her2-negative, node-positive early breast cancer with a high chance of returning, as determined by your doctor when added to hormone therapy. verzenio reduces the risk of recurrence versus hormone therapy alone. diarrhea is common, may be severe, or cause dehydration or infection. at the firs

is so peter morici, judith, put out a story that basically what biden and democrats have been doing is destroying the u.s. dollar dominance. americans will have the pay $850 billion more in higher cost of living, higher taxes, higher interest rate. trump is saying jimmy carter looks brilliant, quote, a genius by comparison to biden. >> well, when you put at a risk our most powerful instruction of soft power which is the dominance of the dollar, you are, you are really playing with fire. this is something that we need to rely on. we want the dollar to be the most trusted currency in the world. and our rivals, in particular our enemies, are really talking up this idea that with the u.s. lack of fiscal sustainability so obvious to everybody, that the idea of having faith in the future viability of the united states is being called into question. my background was to study the internal monetary financial system of the soviet union. in is 1989 i wrote a book called the coming soviet crash which shocked even me, but the country was going bankrupt. the soviets tried to cover it up, but two tw