>> we were talking about airlines earlier and this is a day prediction, just a frustration. i think it's about time airlines got their act together to give us a better service and lower prices. cheryl: i agree. >> this country rescued 112020, pay up. we want something back. cheryl: amount of time. sending it over to david asman. david: john owes me 10 seconds on the hour. cheryl, good to see you and thank you. good morning. i'm a david asman in for stuart varney. the big story, house passing a bill boosting direct payment checks to $2000 with all eyes on senate majority leader mitch mcconnell to see if he takes up the bill later today. senate is set to begin in a few hours. looking at futures, they are in the green again. right now after yesterday's record a the

dow jones, s&p and nasdaq and the green and premarket activity. and they have come down from where they were, but we will see if they maintain record level. a mass exodus is underway, not talking about california. we are talking about the seattle police department and why calls were defunding the police are backfiring and as investigators dig for clues into why the nashville rv bombing happened, small business owners in that vicinity are reeling from the damage. we talked to one couple trying to pick up the pieces after their business was destroyed by the bomb. plus, "washington post" editorial op-ed claiming president trump the border wall was a complete waste of time and money. tom takes them on coming up later in the show. joe concho, it gordon shang, they are all here and we have a big three hours ahead. "varney & co." begins

right now. ♪ david: you have to love that song. hard to convince a lot of businesses in america they have that freedom right now. with a vaccine on the way, here's hoping. foxbusiness alert, the house passing a stand-alone bill with direct payments to $2000 , only 44 republicans of nearly 200 in the house supported president trump's calls for the increase. come in susan li. all eyes are on what mitch mcconnell does. susan: will he or won't he with the 2000-dollar check? we know president from set a condition of

signing the bill sunday evening was for gop members to move forward for bigger checks to americans. it's unlikely given the gop objections to more spending. 2000-dollar checks means another 400 billion-dollar plus in the deficit and unanimous consent for the overwrite of the defense bill together is hard to do, but that is not stopping bernie sanders from trying. he says he's going to stall all proceedings until they pass legislation for 2000-dollar checks and he told fellow senators forget going home for a new year's eve. david: and he's a serious about. thank you. joining me as economist peter morici. i have to tell you, a lot of businesses are trying to plan for a biden connie but they aren't sure what they are planning for. dme idea? >> depends on georgia, i

mean, if the republicans hold the senate, i think they can count on taxes the way they are. i think they can count on obamacare, affordable care act pushed out a bit at the edges and that may help them because they may give more assistance to individuals to buy, but in terms of the economy we will have good growth next year probably three and half to 4% because we are coming off a low base and we will be putting more people to work, but the most noticeable in the economy will be the skill and locational mismatch between jobs opening up post- pandemic economy looking different than pre-pandemic economy and workers are in the wrong place and they are in new york city when jobs are in houston and they don't have the right skills and that's what i want to see mr. biden address most of all after stimulus spending. david: we have this bill outstanding, looks like it will go through with the higher number. a lot a free-market republicans are saying

we have to get real about sending and we are spending money like it's going out of style and we will eventually have to pay for it, but we all have to remember we aren't in a free market right now. the economy was locked down, prevented from providing all those benefits the free market usually provides us with and creates those strange circumstances where people have the wrong skill sets for the jobs available etc., so there is a huge movement going on with the economy and i'm not excusing excessive spending on the part of congress, but on the other hand it's not a typical free market we are dealing with. >> it's not a free-market, but we need to keep in mind and a lot of the money will go to people who kept their jobs, who haven't suffered income losses, they took aims at the stock market either by trading every day and they will likely save a lot of money and won't spend it. if the money was more focused and that is to

ensure the unemployed really have benefits, a lot of people state benefits have run out, to ensure they have the time to find another job , to ensure they have training, something more like in 2008 when we extended unemployment benefits recognizing it's a very unusual time to 99 weeks would be a better way to spend the money. i don't think someone who has not lost their job, has been able to work at home, save commuting expenses and doesn't have to buy lunch outside the house needs another check for another $1400 over the $600 congress has promised. david: one thing that will happen no matter what happens with a election in georgia coming up next week is that the biden administration through executive orders, we know what you can do with executive orders we have seen donald trump deregulate a lot of the economy to the benefit of businesses in america. will we see those executive orders used for the reverse reason to reregulate the

economy in a way that will stifle and logjam at? >> people are policy look at the hopes he's put into the top-level jobs took my feeling is we can look forward to efforts to reregulate the economy and just as they were slowed it down by more liberal courts, during the trump years now that the judiciary has shifted more conservative, mr. biden will be slowed down by them. them zero but he decides to cancel a pipeline, people with an interest will have him in court the next morning and probably the most will be lawyers that delhi to judge shop correctly because there are two kinds of judges right now. there's obama judges and trump judges and the trick is to get the right judge and a so my feeling is we can slow him down, but unless the republicans scored big gains in the midterm and scare his cabinet, my feeling is that this is

going to be a long process where he reverses what trump accomplished. david: i think there is an inverse relationship between how well lawyers do and how well the economy does. i think we will see that coming up over the next -- >> i think we ought to teach that in school. that makes it sound definitive, permanent. david: i like that. peter morici, always a pleasure to see you. checking the markets, they are doing well in premarket activity. led to bring and mike murphy to talk about what they are doing. markets are behaving, mike, as the republicans want in georgia. is there a bit of our rational exuberance? >> good morning. i don't think it's necessarily that driving the market. i think people expect or the markets expect both political environment to have less of an impact coming in 2021. i think what happens in

georgia hopefully stays republican for the markets to have a real system of checks and balances, but i think what is really driving the market now is major innovation in the big tech companies. you have a dow jones up 6% year to date. you have an s&p up 15% year-to-date and then you have a large tech up 45% year-to-date, so i think the real story here for me is that there is technology, it sticks to what has been working which is big tech and the earnings can continue to grow and i think that is driving the market. david: and there are politics mixed in because democrats to a large extent of their success at least in the presidential election to the social media companies. derrière is less likelihood of a crackdown then there would be under a second term of trump; right? >> yes.

if you look, you have a few cases out right now so if you look at these large tech companies, the social media aspect of it has been on the left, definitely worked against president trump in the november election, but i think if you look at the sum of the parts and valuation of facebook, on on amazon, on an apple, if you were to break up google, if you were to break up these big tech companies i think the then you could have several trillion dollar businesses, so they are moving along now and it doing great, obviously leading the market, but if they were to break up i think they would have an additional push higher. david: interesting. mike murphy, good to see you. happy new year. lauren, you have the latest read on home prices? lauren: reporting the largest annual gain since july, 2014. prices rising 7.9% in

the city index from october 2019, to this october. phoenix, seattle and san diego all up at least 11 and a half percent. with the doubter stresses even though it's backdated through october, is that the pandemic has completely encouraged to buyers and potential buyers to flee the city and apartments for space. david: all you have to do is look at new york real estate. thank you. looking at your screen, according to media research center, twitter has censored president trump in his campaign 583 times meanwhile, joe biden and his team have not been centered-- censured at all. joe is here to respond to that and the world health organization saying the current coronavirus pandemic may not be quote the big one. should we really be taking a warning from the who seriously particularly after all of their misjudgments

about china and the virus? dr.marc siegel joining me in a few minutes with his take. first, here's a check of futures. they are up significantly and they are growing. we will see how it all turns out in about 15 minutes when markets open. more "varney & co." after this. ♪ ♪ you can go your own way

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it's your wireless. your rules. only with xfinity mobile. david: markets is still looking good premarket activity and dismay be one of the reasons like goldman sachs raising gdp forecast for the first quarter of next year to a level, susan? susan: 5% from 3% because of a new $900 billion stimulus bill.

5% is a bullish knots-- average of the 2% gdp growth rate we have seen in the past decade. they are looking for recovery consumer spending with extra 600-dollar checks so goldman a common assay sectors in particular will bounce back in the year's first three months catching up on spending with food, transportation and recreation. us consumer power around 70% of the us economy and that higher stock markets for 2021 with another 15% gain from the level so i think it's 4300 s&p 500 by the end of next year. santa claus is alive and well. david: a word of caution should be noted that we have done this before the past, sent out these checks with the obama administration, the bush administration and people he generally say that money pick they didn't buy with it and that may happen this time. susan: or they invest which is

what we have seen with money flow into stock markets at record levels so there are some benefits to these checks. david: let's hope it happens. thank you. the world health organization's warning that coronavirus pandemic might actually be minor compared to future outbreaks. listen to this. >> the pandemic has been severe. it's a spread around the world extremely quickly and affected every corner of the planet but it's not necessarily the big one. if there is one thing we should take from the pandemic with all the tragedy in losses owing to get our act together and get ready for something that may be more severe and future. david: joining me now is fox news medical contributor and author of "covid the politics of fear" dr.marc siegel, i have to tell you after all the misinformation about the coronavirus and china's involvement, should we really be taking the who seriously? >> actually, no and it's

even a larger issue than that. as i write in this book i traced the who back since 9/11 in the book and i have to tell you that make in 2005, who said bird flu would kill potentially 100 million people, so then you move forward to covid and they didn't warn anyone so that was a suspicious at the time when they said january 24, that it was only a regional problem, only in early february, they said keep traveling it's fine contract or from china to europe and all of that stuff and now suddenly they are saying it can get even worse. of the inconsistency of them, they didn't warn us and it was spreading through communities at the time when they said it was regional and it was already spreading around the world, note that abilities. david: i'm an old-style journalist and i like to follow the money. i think what they are doing is increasing their bank account.

they see what happened with operation warp speed for the first time rather than an international group like a who and major distribution efforts. is the private sector. the trump administration working with the private sector and besides their jealousy i think they want more cash to fund their own bank accounts. what do you think? >> clearly a part of. president trump clearly bloodied their nose and they are trying to pivot and reinvent themselves and pretend none of that happen and say they are the grandest saviors. and by the way here is more saber rattling. the last thing the world needs to hear that something is coming down the pike worse than this, i mean, this pandemic is pretty severe and it's extremely disrespectful to it. i agree, there's a financial incentive. they are going to get our money back, but that's just a small part of it. david: doctor, we still don't know and we have to get to the bottom of how the virus was

released by the chinese, don't we? >> i think where the virus originated, whether it was in a wet market or otherwise, one fig is certain and it's not received enough attention, which is that china was very careful to decrease and shut down domestic travel while still having international travel. that's an absolute international disgrace and we brought that up and clearly the trump administration brought that up. that's not receive the attention it deserved. how come china did that? what was their motivation, clearly no international responsibility. david: there was an effort on their part to spread it throughout the world when they were trying to contain it within china, no doubt about it. dr.marc siegel, good stuff. thank you. meanwhile, astrazeneca vaccine may not be ready for approval in europe quite yet. what's going on here, lauren?

lauren: europe your regulators as i doesn't have enough information, astrazeneca and oxford university have yet to file for an application for approval therefore eu say they most likely will not be able to prove it in january, but probably after that. you were looking at the stock, it's up to another quarter precent because they did submit data to the british government and those regulators reportedly plan to approve the shot maybe this week in the coming days so astrazeneca says it should be effective against the new variant of covid-19 we see in the uk. david: there's yet another vaccine to talk about. novavax entering their final stage of testing. if that goes well, how soon could be on the market? lauren: great news all these shots coming. the earliest would be next year so right now novavax is dosing 30000 people in the us and mexico, phase three trial, the fifth shot to enter the final stage of testing which means come

the middle of next year there will be vaccine by pfizer moderna, johnson & johnson and that's that one shot one, astrazeneca and possibly novavax and you may have a choice in which vaccine you want. fingers crossed, david, because i want to get there soon. i need the world to open soon. david: we all do. the opening bell is next stage soon. stay tuned. ♪

david: looking at pictures as they are doing well today. books like at least a mini santa claus rally. let's bring in market guy jason rantz, jason let's talk about what happens if democrats win back the senate based on what's happened in georgia. if they do, we know they will raise taxes particularly on capital gains. exactly how will they target capital gains and how will it affect the markets? >> good morning, david. it's truly a binary

events and while that trip wire is fairly low and we don't think democrats will sweep, anything can happen and stranger things have happened and with respect to capital gains , think about how it would drain liquidity from the capital market, how it would hamper innovation. i manage money for a living for ultra high net worth people and they would be dis- and that it-- deuce incentivized for risk taking and that risk-taking that fuels that ipos and innovation , so it's a slippery slope here with respect to this taxing not to mention corporate earnings that would get hit by 5%. david: and there was actually one proposal, i don't know if biden signed off on this, probably hasn't yet because he's been holding his cards close to the chest, but where you could be actually charged for unrealized gains, if stocks you

hold go up in value even before you sell them you could be charged a tax for the rise in value. >> people over a certain net worth their assets could be taxed every year while stocks could be marked to market, a lot of assets are hard to value every year including private equity and that what about find-- zero transaction tax. a lot of people think tuesday tax every stock transaction for people over and met worth, again that dis- incentivizes. david: and yet you remain bullish. wide? >> because as i alluded to earlier the democrats have not taken the senate seat in 20 years in georgia let alone at taking two of them and in the short run, if they win you will get more stimulus. down the road we will have problems to contend with. with that said, with rates this low and all the liquidity there is truly no alternative at least in the short run

so our base cases at the republicans hold the senate and we have divided government and then we have another leg up for locality in value c-1 interesting stuff. thank you. after one record-setting day we may get another one. dow futures are up 1503 points right now. look as the trading begins. so far three stocks in the green. every single dow jones stock is in the green, 30 stocks-- well, cisco is the party pooper, but just barely. s&p is doing quite well also. they are trading up about a half a percentage point, all-time high for the s&p, all-time intraday. let's move over to nasdaq and see how that tech heavy nasdaq is doing, again about a half a percentage point to the positive, up 61.8 points right now 12962,

very close to the 13000 level. let's get specific, snap is up 6% what's happening there? lauren: they have a really big cycle, $70 from 47 so that's basically betting shares go up another 40 plus%. strong fourth-quarter ad momentum. other partnerships that have the potential to drive further momentum and user engagement as well as add scale for advertisers, so big winner today, snap. david: thank you. mastercard and continental resources getting upgrades as well susan let's start with mastercard. susan: being called a strong buy because they are benefiting from holiday shoppers who spent more this year than last year. people are using their credit card to complete online transactions. continental resources,

thanks to rising and recovering oil prices at the end of the year. a bit more bullish than other investment banks in terms of where they predict oil prices will trade next year and that's why they recommend a stock like that today. david: oil has been going up so far at the end of the year. check the lien if we can, one of stewart's favorite stocks, 737 max jet about to be flown by american airlines with pastors were the first time since the grounding, so when does it take off? lauren: in exactly one hour. 10:32 a.m. from miami arriving in new york at 1:30 p.m. american airlines is the first us carrier to put the jet back in service after it was grounded for 20 months following the 280 crashes took this route will be a daily route with more flights added. american has 31 of the 737 max. its return is coming at a time when the pandemic has parked hundreds of

airplanes where even christmas week demand travel for the week is a still 65% below last year, so customers are skittish to fly. will they be willing right now to get on a plane that has seen several safety-related changes? if you don't want to americans that they will book you for free on another flight. david, would you get on a 737 max right now? david: to be in miami in the middle of a new york winter, yes, no question i would be one of the first. let's stick with airlines because southwest won't be for allowing any of their employees and tell at least when? lauren: april, but possibly never so the us airline received a $50 million in the new aid package contingent on pond keeping employees through march, but southwest ceo said i'm not anticipating needing to furlough any workers or even cut pay for all of next year and we have seen american and united

furlough tens of thousands of took southwest has never furlough would. they warned of a potential furlough if another round of a did not come through, but it did so for now everyone is safe at southwest. david: that's good news. one of china's financial newspapers says tesla's dominance will be threatened at next year and yet the details? susan: more local competition is coming including neil, these two electric car names that have soared in trade so far. tesla is winning at least for now by opening the shanghai factory and ramping up production quickly, but their competition with local players ramping to sell more cars tesla currently sells more cars a month then the three china competitors combined and tesla success in china have been a big reason why the stock is up 600% this year.

the point of this article is that tesla can enjoy the lead for now, but with other car companies also stacked with cash, they can expect higher competition in the future. david: another one, investment banking firm william blair is out with this top stock picks. susan: uber, alta, planet fitness and workday as some of the pics. it's a reopening consumer driven theme for next year according to william blair. uber is up 70% this year and they are expected to continue to rally hopefully with recovery and rides. alta, yes beauty is coming back as we get back to face to face meetings and planet fitness locations should also reopen next year and should see a recovery in stock prices david: i never thought i would want those days of face-to-face meetings as it's easy to work from home, but i do. something happens with face to face meetings.

susan: i thought you meant going back to the gym was something you didn't want. david: our jim has been open for a while, although the gym in the building needs to open. checking the big board if we can. we are holding onto the gains of about i would say a very positive day for all of the indexes, about a half a percentage point gain on the dow jones and nasdaq checking the tenure-- 10 year, slight rise still below the 1% level at .942%, but again. gold, usually when you see the markets do so well, you can see the gold pulling back, but not so today with a slight gain of about $3.73 undercounts still below $1900. let's look at bitcoin. it's down modestly, $110

still trading just about at the 27000 mark. oil is up about a half a percentage point out to my $40.13. president trump is putting the pressure on the senate tweaking this morning quote $2000 for our great people, not 600. they have suffered enough from the china virus. will senate republicans side with the president on this one? we are on it. we are one week away from the critical georgia senate runoff and if democrats win that probably means higher taxes for you, americans for tax reform joining me too explain. first apple then group on, gregg smith is hot on both of them and he will tell us why coming up next. ♪

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david: amazon just had a record-breaking holiday season with the stock trading up over a percentage right now. susan, how may packages did they deliver? susan: one and a half billion items worldwide, so toys, home products, personal care products , electronics shipping around the world. amazon doesn't give us a dollar amounts or could they give us item amounts and we know early estimates a holiday shopping was a record-breaking holiday shopping carrying 3% up from last year and a record of that hundreds of millions spent online that's likely to translate to another blowout quarter for amazon. remember amazon reported record sale profits in several months and also hired people to share, 400,000 around the world to keep up with demand and now they employ over

a million around the globe is. david: not in new york city, but they could have been. susan: with high paying jobs. david: i know, tens of thousands of jobs we missed out on. some supermarkets are rethinking partnership with instant cart. lauren: is not profitable for them. they turn to instant cart when the pandemic hit as a lifeline basically to get customers orders without their own delivery service. not only does a charge me and you an arm and a leg, but it charges the food to source a commission more than 10% on everything, so what some grocery stores are now doing is building out their own operations building with rival services, but it's bad luck for us to cart which is looking for ipo next year currently valued at nearly $18 million and it posted its first profitable month ever in april at the height of the pandemic.

david: you can see these people shopping everywhere, whatever supermarket you can see these people shopping, good for them, but it is a premium you pay for. thank you. looking at apple and groupon and bring in market guide gregg smith because you like both of these stocks. i want to start with groupon. i still get groupon notices, but it-- i rarely or if ever use groupon, one of their coupons. you still think they have a place here in this market? >> i do. good morning. many people may have bought a groupon as of yesterday, but when we get back to normal covid is behind us this will witness a party that will make the roaring 20s look like a bar mitzvah. people will want to get out, off their devices, kids get their heads out of their screen and maybe get back to a ice

rink or go rock climbing. i think groupon's ultimate recovery. we will have a local merchant that will want the consumers to convince them to walk back in their doors. people want to do that. travel stocks have showed us that recovery is coming and i think we will want to get out and stop shopping online and actually walk into a store or have experiences again and i think groupon is the great way to deploy that trend. david: people care about the stores in their community. we want to help out those stores and if groupon can work with the community spirit i think you have something there. particularly restaurants , they could really benefit. let's move to apple, totally different market. different sales strategy. the new phone, they seem to be recession proof because i remember in 2009, going into 2010, the other companies were having trouble and apple

was booming and they have a new product out and maybe even a new car >> there is that much about that on apple that most people don't know where the average consumer can witness with their own eyes. when i joined stuart on the show three weeks ago , my crazy year in prediction when apple was trading at 122 is that it would make a new high by new year's eve and nothing much has changed with apple, but why i believed it was his apple is one of the most widely held stocks. all of those folks will get paid on their performance when the books wind down thursday, so with apple at the way it is this your, none of them wanted to sell out if they didn't when taxes and there is something called windowdressing. they want apple to close at a high because it will impact their performance for the year , so that's why i thought apple would trade higher in year and

i think it should be a quarter holding and if you own it i would not sell it. if you don't own it i would hope for a pullback. david: great advice. you were spot on. again, he said it would be higher when it was at 122 it's now 137. have a wonderful new year, greg. well, they have filed to go public. susan, talking about new ipos and hear his wife to i think early january and it's looking for a price range of maybe 20 to $24 a piece, roughly 12 to $14 billion. it is being spun out of sap and they are making a sizable profit since they bought it two years ago for roughly $8 billion and they are also taking advantage of a popular wall street trend for cloud subscription services.

think zoom, snowflake, all the stocks of doubly so far this year and this is a compelling story. 30% in the first three months of this year, another highflying unicorn named to head to the watch list for next year. robin hood could also sell a long as well in 2021. david: i wonder how well the stocks that did well during the pandemic will continue to do well after the vaccine is enough in there so we have heard community. susan: if you look at doordash and airbnb, i mean, that bonanza we saw earlier this month up 100%, 80% first debut and a lot of people say there's a lot of pent-up demand and cash to chase these highflying unicorn's. david: about $2 trillion worth of cash on the sidelines. will the latest stimulus bill and boost another round of ppp loans, but there is some new changes that could limit

who actually gets the help here we will explain how coming up and also in that stimulus bill 25 billion and rent relief, but no relief for landlords and to make matters worse many landlords don't qualify for unemployment benefits are stimulus checks of any kind. how will they survive? we have a live report on that next. ♪ save hundreds on your wireless bill

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get gym results at home. no expensive machines, no expensive memberships. go to aerotrainer.com to get yours now. david: lets you check the markets. could they are still all three at all time highs. lost a little bit of the glimmer, but still up over a third of a percentage point, five pullback, but not enough to keep them off their all-time high. the pandemic has put millions of americans behind on their rent. covid relief package president trump just signed provides about 25 billion and rent relief, but it does not provide any direct relief for landlords. they have been hurting. christine is in new york. landlords will need help as well; right? >> yes. that's a point of the story of the fact that

you have rent relief and no doubt tenants are struggling, but they are provided rent relief and a federal moratorium on evictions until january 31. landlords still have to pay their taxes, they still at the pay utilities and they have not been given a break. listen cement the first federal stimulus dollars , some of the larger companies possibly could take advantage of the ppp loans, but smaller landlords were specifically prohibited from tapping into those dollars, so rather shortsighted on the federal government to decide. >> new york lawmakers are working on a bill to halt any evictions for the next 60 days here in the state and if you happen to lose your job or lose income due to the pandemic than you could potentially not pay rent until may 1, plus you don't have to

provide proof of financial hardship. this is hurting mom-and-pop landlords who have roughly 40% of the rental properties across the us, more disproportionately affecting black and latinos because their community has been hit so hard, that many americans have not been able to pay their rent and so far next month there will be roughly $24 billion in code rent to landlords which is why it's a difficult situation because you have rent relief for attendance, but landlords have only been provided forbearance which means they will have to pay mortgages down the road. back to you. david: it's so easy as a former renter, it's easy to beat up on the landlords and i don't know many people in love with their landlords but they have to make a living also. 40% are sort of in the middle-class area of landlords, mom and pops. christina, thank you.

coming up, still ahead right here kelly sadler, todd pirro, joe concha and tom holman, a jampacked show. the second hour of "varney & co." moments away. ♪ . .

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♪. david: i know it is going to be a new year's eve like none other we've seen. don't stop the party that is the message we put in there. don't stop the party. it is up to a lot of government officials out there that they don't stop our partying because we'll enjoy the end of this year if not the beginning of next year. good morning, everybody, i'm david asman. i'm in for stuart varney of course. 10:00 on the east coast. we still have a very big show ahead. this hour we have got kelly sadler, grover norquist, the taxman, the good taxman, todd pie roy with us. next hour joe concha talking about media. what the heck are they thinking. tom homan talking about the border whether that will change. jason rantz is with us as well. we have a busy time ahead so stick with us. let's get a quick look at the markets. we're in record territory except

for the nasdaq. there is a pullback here. perhaps market investors are thinking we were getting a little ahead of ourselves. we'll talk about that with our guest. let's bring in scott shellady. he knows a lot about the markets. he has seen the ups and downs. looks like investors are thinking that the markets have been a bit too hopeful past couple days. what do you think? >> obviously it is largely due to the fact that we got the vaccine. once we've gotten through all of that, that real good feeling about the vaccine we realized hey, we still have to wear masks all of a sudden. when do you think social distancing will really end? those feelings are creeping in. that is giving investors, we've been borrowing a lot of great news up front, pulling demand forward. now we're starting to think that the demand might not come back quickly as thought. and maybe january is the 13th month of 2020. david: if you're kind of skiddish with what is happening

with the markets thinking that some of the top will come off of this market you want to game some of the money you made over 2020 when we had so many difficulties and store it. where do you store it? where do you park your money. >> unfortunately or to the natalie, depending who you are, a lot of investors forget cash is an asset class. we have to worry what will happen with the vaccine and the rollout. we have to worry about what may or may not happen in georgia. we have to worry about anymore lockdowns that will affect this economy and argue whether the poor people will get $600 or $2000. that portend as bumpy road. you will get the opportunity for some sort of a great bargain out there. that is what i always tell the investors, be ready to pull the trigger. have money aside you've taken off the table from the heady highs, so you can get a bargain going off the year as big foot. david: keep the money in your checking account? >> well, that is going to give you -- there is a lot of weird

accounts out there that will give you 2% on $10,000 in your checking account. you have to keep your money someplace. it will not get you a lot of interest right now but that is assuming you're not worried about the asset class going down in value. we all love to see the markets where they're at. but the at end of the day you get yourself an opportunity you might want to have cash. there will be opportunity after all the things i said we're going through. david: what do you think the safest sector to invest in coming into 2021? >> well i hate to tell you if you go back to 2008 we saw the recovery begin in one little small sector that doesn't get a lot of play. that is commodities. maybe some guests are starting to talk about it. probably more inflationary than anything else. in 2008 with crude oil as part of the commodity sector. that gave us the idea that we'll really start to turn things around and that is starting to happen again. yes, we missed some of that move

already. you want to watch the commodity sector. that will be, give you an idea what will be happening in the short term here. that is exactly what happened in 2008. it is starting to line up that way again. david: if you're worried about the all the spending going on in washington and you think there will being some kind of inflation thank youry bounce it will probably likely be seen in oil, right and in the commodities? >> oil and i think you've got a lot of people playing that gold market for some sort of inflation. you know what, david, i'm not, we've been trying to buy, borrow import inflation for 12 years. now we'll even see cheaper dollar because of money we're printing. it just hasn't happened. i'm not as worried. i think you will see inflation coming. it will not surprise anybody. i'm not worried as somebody else is. that maybe gets out ahead of itself, see gold trade up for no reason or cryptocurrencies. don't get excited about

inflation. you will still see it coming. david: scott, you're still in scottsdale, is that right. >> i traded 72 and sunny for short term and cloudy and 20. that is one of the better trades of the year. david: that is a very simple trade. scott, thank you very much. >> happy new year. david: happy new year. we're one week away from the georgia senate runoffs. 2.3 million votes have already been cast. kelly sadler. good to see you. do these numbers worry republicans? >> no, absolutely not. we know we overperformed in mail-in ballots in early voting tallies. the day of the election we always see a big turnout in terms of in-person voting. so we are very optimistic about georgia. i mean we have two senators running against radical socialists and the state of georgia is a red state still and they will reject the policies of

rafael warnock and jon ossoff. david: just to remind viewers, all the republicans have to do is hold one of those seats to maintain control of the senate. do you think there is going to be a split decision or what? >> well we just need one of them. rafael warnock is one of the most progressive socialist candidate that has ever run for the u.s. senate. then we have the left-wing propogandist. this is what i mean by the mainstream news where they're not, they're not reporting his assault against his ex-wife. they're not reporting about allegations that came from summer campers weren't to the summer camp of abuse and scandals. let alone his radical positions on abortion, whether you can serve in the military and serve god. this is a candidate that would fundamentally change america and i believe that georgia will reject his policies as well as his personal politics. david: he has been trying to bury his radical credentials, i'm assuming rest of the america

haven't heard much about it from the mainstream media. i imagine the airwaves in georgia are full of the charges, no? >> yes. it is one of the most expensive senatorial campaigns ever run where you have millions of dollars both republican and democratic money being fueled into that, funneled into that state. you know the mainstream media, their leftist propogandists in this race but we are working best we can through pacs and candidates to get rafael warnock's record out there. david: we're hearing rumors, some democrats were encouraging people from outside of the state to come in and vote, register as permanent residents quickly before the voting began. a lot of that would have been illegal what they were suggesting be done, do you have any specific news on that front? were they successful? is that where some of these early votes are coming from? >> well we know the secretary of state in georgia has ongoing

investigations into different progressive groups, stacy abrams group being one of them about registering people from outside of the state and also registering dead people. what we know is that these voter registration polls need to be cleaned up. that is something the state of georgia has not done. it is imperative we have free and fair elections. republicans in georgia that run the state need to clean the rolls up and so that we have confidence in the run-and-a-half. david: early voting coming from people going to the voting places as opposed to mail-in votes. does that auger well for republican. >> yes. i mean, it bodes well for republicans. we know we need poll watchers, where you can drop off a ballot at ballot box we need cameras on the election. we know turnout will be high. that usually favors republicans in traditional runoffs in the

state of georgia. david: kelly sadder, thank you very much for being here. >> thank you, david. david, susan, you're following big movers of the day. we're seeing a pullback in tech stocks a little bit and apple is one of them. susan: they're helping drive the santa claus rally. five days, combined with the next two days of 2021, record stock markets still. apple opened up higher to continue the 88% rally. we saw a 3% jump yesterday. as you heard from greg kelly, look at amazon, apple, microsoft. window dressing in the big tech positions to close out the year to make returns look a lot bigger for 2020. snaps a you mentioned showing on the screen, goldman raised the price target on the stock to $70. they think next year will be good for their ongoing sales recovery and i wanted to check in on boeing, a big dow component here and it is rallying on the back of the

737 max getting back into the skies of the first commercial u.s. flight since its grounding on american airlines. the saga of jack ma, china's richest man, owner of alibaba. recovering from the worst day on christmas eve. alibaba came up with plans to have its financial arm regulated like a bank in china that might appease beijing and problems with the $300 million financial arm. david: if beijing can be appeased at all. susan: if somebody can do it, it is jack ma. david: he knows how to negotiate that territory. it is treacherous. susan, thank you very much. jpmorgan is rewarredding a credit card program. lauren tell us why. lauren: lauren: they bet people will book, take and splurge on vacations what they feel it is safe for them to do so. what it's a travel rewards company called cx loyalty group. they will use it to give

personalized travel recommendations since jpmorgan will have access to technology as well as all the credit card customers and relationships with the hotels and the airlines. what do you think a bet travel is coming back in a big way? david: absolutely. no question. i'm dying to get out there. i have another one for you, lauren. spacex's starlink satellite is getting major praise from customers. what are they saying? lauren: elon musk's internet service it can beam high speed broadband basically anywhere on earth using small satellite in low earth orbit. it is sasa, can do 175 meg bits-per-second. it works in snow like cold weather and windy conditions. eventually they think the service will provide internet everywhere. it is secret, limited. some users are testing it in

unfavorable weather conditions. david: that is a problem. when it rains sometimes it gets screwed up. lauren, thank you very much. critics are slamming hill lair yaw baldwin accusing her of faking her spanish heritage. she is pushing back. >> we have a cucumber. >> cucumbers. >> there has been some questions about where i've been born. i was born in boston. david: joe con that, has a lot to say about that. he is coming up. he is also going to be talking about the "new york times." wait until you hear the latest out of rage about the "new york times" coverage of events. if democrats win both georgia senate runoffs grover norquist says your taxes will go up. i will ask him about that later this hour. first businesses in nashville have been slammed by restrictions, tornadoes, riots, you name it. now the christmas day bombing.

two business owners whose stores were destroyed by that bomb having a way you can help support people in the area. they are coming next. ♪ - as the original host of "wheel of fortune" i was blessed to be part of building one of the greatest game shows in history. during that time, we handed out millions of dollars to thousands of contestants. i thought, what if we paid the contestants

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nasdaq in the red. 2020 has been a very tough year for small businesses in particular between the pandemic forcing them to close their doors, rioters causing in millions of damages many will never open again. let's bring in jeff and sandy lee, the owners of two stores in nashville that were both destroyed by the bombing on christmas day. jeff, before we get into how people can help, describe what you have been through in 2020, exactly how the year has gone. >> well it started out in nashville with tornadoes which hit downtown, proceeded into the suburbs which are quite catastrophic. then of course during that time we had just opened, we just moved one of our locations and had just done a complete reset, refit facelift on the other one and then two weeks after we opened the doors on the new

store corona hit and we were shut down for six weeks. and then after that time, then the protests took place, the george floyd protests on second avenue. so that really chased a way a lot of customers that were there. there was very few at the time. and there was looting and rioting that took place during that time. and then as things started to come back other, other fluctuations of you're open, you're not open. david: right. sandy -- >> and then went away. david: what do you do now? we just showed pictures of what happened to your stores as a result of the bombing. what are you do now? where do you go for help? >> we have been overwhelmed with people that have shopped with us for 10 years. our nashville, tennessee,

neighbors, our family and friends, really are the small business owners reaching out have, has been tremendous. we for the first time were looking through like the gofundme and actually reading some of the stuff this morning while waiting for you and it just chokes you up because of comments being left by small business owners. david: it really shows you how important community is. i was mentioning before how communities are really getting together. the customers are getting together to try to save the dying restaurants and prevent them from dying but politicians, jeff, are not making things any easier for you. you have a mayor there who was accused earlier in the year of fiddling with some covid figures, john cooper in order to justify some of his lockdowns. have they turned a corner, are they more helpful than they were earlier in the year? >> a little more friendly as statistics have come in and more is known about the virus.

>> well they, when that came out since then he made a pledge to not shut the downtown again. sew has done more to make sure that they're open at half capacity. that has been a plus. and our governor also doesn't do a mandate. he lets the counties come to their own conclusion what is best for the county. david: you know the frustrations, it is all around the country, from the west coast to the east coast, here in new york, for example, restaurant owners and retailers like yourself were spending thousands of dollars which they can ill-afford because of pandemic lockdowns, trying to put up separators, plexiglass separators, outdoor situations for the restaurants. to be shut down after you spent all the money it, has to be the hardest year of your life, no? >> it has been the hardest year of our lives without a doubt. the money spent on hand

sanitizers, lucite, all the rest of it to make our environment safe. and then to be shut down again and again is tough to swallow. >> well, we're in the tourist area. we've been open. we've been open almost every day. it is important our staff has to earn money but the businesses around us have not been open to a great capacity and everybody is being told to stay home. so even though we're open there is no people in nashville. so it is kind of -- david: but there is good news and of course that is that the vaccines are coming in. every day we get new news about the effectiveness of the vaccines and number of vaccines available. are you hopeful, jeff, that as the vaccines get out we get herd immunity and the lockdowns end, that you can get back to where you were? >> absolutely. i mean we look forward to looking for a new location and picking up the pieces and

starting again. the opportunity is still out there and we're optimistic. >> especially for nashville. people will come back. we're very optimistic about that. it is not a one and done destination. it's a repeat destination. david: yeah. >> we look forward to well coming people back. david: it is a wonderful town and you're proof how wonderful it is. you maintain the stamina despite everything you've been through in 2020. we wish you a very blessed 2021. it can't get worries. i hope it gets a lot better for both of you. >> for sure. david: you have been through hell and back. you have amazing stamina. jeff and sandy. thank you very much. >> thank you, david. we appreciate you. david: absolutely. the all -- alma mater of jeffrey broken culinary institute is closing down for good. susan: hands on training is key

when it comes to being a master chef. that is difficult during covid because you can't do the classes in person and face-to-face. fewer students reduced class fees for the culinary institute. that after after 40 years, the great vermont-based culinary institute is closing doors next year. current students will get to finish off the programs but obviously the doors will be shut permanently. david: so sad, susan, thank tha. here is some good news, folks there is good news besides the vaccines. bars and restaurants in new york, getting a win, very important one in the courts. lauren specifically what does the judge in this case say cuomo, governor cuomo has to do right now? lauren: yeah. provide evidence that there is scientific proof for closing indoor dining in parts of the state. this lawsuit involves 40 owners, mostly six hours from the city, western new york, involved in this lawsuit against governor cuomo. they say look, you shut us down. that is a, unconstitutional, and

b, it violates our rights to earn an honest living. a judge says so the state has to provide that evidence by tuesday to support why it banned indoor dining when not a single case of covid has been connected to any of those 40 restaurants, and, if new york cannot do that, the judge ordering them to reach a compromise with these bar and restaurant owners which means they might be back in business. indoor dining at some point soon. david: and it may indeed, even though it is mostly western new york he is talking about, this could affect restaurants in new york city as well. we'll talk to one of those restaurateurs tomorrow. lauren, thank you very much. "the new york times" is facing backlash for glorifying the cancel culture after student mimi gross was kicked out of college over a racial slur she used in a video when she was 15 years old. her attorney is firing back. listen. >> what she lost was her dream, like many athletes, she had

worked most of her young adult life for the shot at going to a great school and being on their team. david: so has the cancel culture gone too far? can young people no longer make any mistakes because they will be held for years, decades into the future? we'll get into that. coming up plus another round of ppp loans are on the way but new changes could limit who gets help. details coming next. ♪

david: the debate over $2000 stimulus checks makes its way to senate. they are working to get the 600-dollar checks this week. lauren, who would get the first to get them. lauren: that get tax refund through direct deposit. that is one of the reasons the treasury department is able to act so fast moving $600 to americans bank accounts as early as tomorrow. they're saying wednesday or thursday. as for that 2000-dollar check, that all depends on a vote in the senate but it is very unlikely the administration will be able to move as fast because

less of the footwork has been done ahead of time. but the 600 coming this week. david: good for the folks who get them. lauren, thank you very much. the latest stimulus bill provides $284 billion in ppp loans but not every business that got them the last time is eligible this time. jeff flock is talking to business owners illinois. jeff, what changes are coming that might affect the folks? reporter: one thing they hope will make it better. i'm at a place called pino's palate. you come drink enough wine, teach you how to paint, by the time you're done you are a fabulous artist. as you can imagine pam bartlet's business was affected. david, here are the details, who, what, when. who this is available to, this would be small and medium-sized businesses. independent contractors and some

non-profits, what, $284 billion this time. that is less than last time, 500 plus billion last time. this time they're targeting smaller lenders, community lenders around grants to theaters and live entertainment venues. how much can you get? two million dollars max. 2 1/2 times your average monthly payroll or 3 1/2 times if you are a restaurant or a hotel. pam, it saved the last time you got the loan last time. >> i got the ppp loan. it tremendously helped our business. helped us stay open, helped us pay our rent and keep our employees. reporter: you were counting on this time. you qualify because the qualification is 25% reduction in gross receipts or 300 fewer employees. you have 10? >> we have 10 employees now. we used to have 19. we have definitely down more than 25% of our normal revenue. reporter: but you're able to still have folks come in. the town of naperville has done

a nice job keeping you open. >> yes, we're considered retail. so we are still open. we can have limited people in the studio. right now we're doing virtual live classes so you can paint at home. reporter: wonderful. i can't paint whether i'm at home, here, anywhere. perhaps if we drink enough wine it would be possible. david: there you go. that always helps. wine helps everything, everything. jeff, thank you very much. meanwhile joe biden promised at least $4 trillion in new and higher taxes. he also said that he would immediately repeal the trump tax cuts even though 65% of americans actually received a tax cut. so doesn't that mean that 65% of americans would immediately get a tax increase if biden is successful? let's ask grover norquist, president of americans for tax reform. by the way, grover, these figures, 65% of americans getting a tax cut, that comes from the "new york times." we're not making that up. that comes from the liberal

"new york times." so if that is repealed, if, just willy-nilly repeals the trump tax cuts, doesn't that mean that 65% of americans would get a tax increase? >> absolutely. the to be specific, median income family of four, dead center, median family of four will see a 2,000-dollar tax increase, if the democrats win the two seats in georgia and biden is able to repeal the trump tax cuts. if you're one of 100 million americans with a 401(k) or ira, if that corporate rate goes up from 21% to as biden wants, more than communist china's at 25. he wants to take our tax rate higher than communist china so that investment would flow to other countries rather than the u.s., your 401(k), your life savings would go down. that is 100 million americans. that is 53% of households. david: we have seen this story before. we saw the movie, we know how it ends. capital moves.

we saw all the companies going over to ireland and places with very low corporate tax and the jobs that they had here move to other countries. so people might be without access to better jobs, right? >> under biden and obama the whole country was new york and california. and people were leaving. now both businesses and investment flow into the united states because we have lower business taxes. people have more money because we have lower individual taxes. and we don't have what biden wants, an energy tax make everything we produce in america uncompetitive internationally. david: then we have sort of the low-hanging fruit for democrats, particularly for joe biden which is capital gains. as you mentioned, you know, half of america has 401(k)s or similar kind of programs which they have stocks. those stock values would be deeply affected by major increases in capital-gains taxes, right? >> you talked about seeing this

movie before. the last time the capital gains tax was as high as biden and the democrats want to take it was under jimmy carter. even the democrats agreed to cut it because it was so damaging to economic growth. david: one of the best things that bill clinton ever did was lowering the capital gains tax. he lowered it to 20% from some very high figure. we had a boom in capital markets. sometimes they get it right, sometimes they don't. grover, thank you very much. happy knew year. >> good to be here. david: joe biden calling for unity, we have the latest threats against trump supporters. first, bret giroir the hhs secretary said we could all have vaccine by summer. watch. >> with the current contracts, with the current contracts we have right now, we expect any

american who wants a vaccine can be vaccinated by june. david: does that mean, we'll have the end of lockdowns all of them by summer at the latest? we'll get into that coming next. ♪

david: checking the markets, we are off our highs. that's for sure but we're also off the lows. there was a little comeback in the s&p and dow jones. looked like nasdaq would go in the green. we're about flat. i would call it basically a flat market, two out of the three indexes are basically flat. a clinic brooklyn could be facing major vaccine fraud charges for illegally distributing the moderna

vaccine. fascinating story. fox news's bryan llenas live in brooklyn. not just the clinic trouble, but people who should not have been given a dose could also face charges, right? reporter: yeah, potentially, david. this story is fascinating. par care is a community health care clinic. they have clinics based in brooklyn. they received 2300 moderna vaccine doses two weeks ago. they administered 850 shots to anyone who was a health care worker, over the age of 60 or had any underlying medical condition. now new york's attorney general letitia james officially launched an investigation into par care, that is wrongfully gave covid-19 vaccines to the general public, ignoring the state's rules that the first round of vaccines will go to front line health care workers and long-term care facilities. saying quote, in order for the vaccine to be most effective in protecting our communities we must all follow the same distribution plan. we will not tolerate any

attempts to circumvent that process. now in advertisements par care urged the public to sign up for vaccines. par care could face falsifying business record charges for allegedly misrepresenting itself in order to receive vaccines through the state of new york. >> we provided them the vaccine because they fraudulently filled out a form that said that they were a qualified health center that was incorrect. that is strike one. number two, they moved it from one area to another area which was inappropriate. so that is strike two. and then they gave it to people who were not on the priority list and so that was strike three. reporter: par care says it legally acquired the vaccine and is cooperating with investigators, providing, quote, information regarding compliance with new york state department of health procedures for obtaining the vaccine and being approved by new york state department of health distribution. governor andrew cuomo, david, yesterday, signed an executive

order making it punishable up to a million dollar fine and the loss of state licenses if health care providers illegally provide the covid-19 vaccine. he also said potentially that patients who received a shot when they knew they should not have received it could face charges. david. david: i thought we wanted to get all the stuff out as soon as we could? we'll soon have plenty of vaccines to choose from as more companies come on line. bryan, thank you very much for that story. amazing. cvs and walgreens meanwhile are offering covid vaccines to long-term care facilities in california. they ned theme there. susan: they will be administering the pfizer vaccines to the vulnerable long-term care facility residents and this will be done at no cost to the state or local government. cvs will vaccinate almost 500 nursing homes. walgreens said they will vaccinate 357. nationwide it grows bigger. cvs helps to vaccinate

40 million at the long-term care facilities. david: again they desperately need them there. susan, thank you very much. one group of folks that could benefit from widespread vaccinations are landlords. lauren, tell us how. lauren: that might be the only way to get workers back in the office, right? i was shocked when i read this statistic. the manhattan office occupancy rate was 12%. david: 12%. lauren: work from home is permanent fixture from society, landlords, quite frankly cities they worry about being quote towns created because everyone is working remotely. no company right now will really push to get workers back to their desks without a vaccine because they're fearful of potential lawsuits but are they also going to require a vaccine? probably not but i think landlords fingers crossed hopefully people will want to get the vaccine so they can then go back to the office. david: new york, hard to imagine how it will come back from this

with 12% occupancy. lauren, thank you very much. the white house testing czar bret giroir has a timeline for when all of us could have access to the covid vaccine. susan, what date did he give us? susan: june next year. next summer for vaccines for anybody that wants one. the u.s. is on the goal to meet 20 million vaccines by first week in january. so far less than two million people reached the first dose of the vaccine by this past weekend that should double by this week. nearly 10 million doses will be distributed. the u.s. government purchased 200 million doses of pfizer moderna vaccine. that is 400 million. that it is more than the u.s. population. they have more than enough for everybody in the country. david: susan, thank you very much. a "washington post" op-ed said the border wall says says is a complete waste of time and money. tom homan is fired up.

he responds to them. the cancel culture is at it again, keeping lockdown open posers silent. todd piro is here next. ♪.

david: "the new york times" is being accused glorifying cancel culture after publishing a piece that readers say celebrate ad high school student's vengeance on a classmate. that classmate was forced to withdraw from her college? lauren: lauren: give you the story. a cheerleader, mimi groves, got on the university of tennessee cheerleading team. she made a video using the "n-word." the cheer team revoked the offer. the university pressured mimi to withdraw entirely. here is the story last night. >> what she lost was her dream. like many athletes she worked most of her life going to a

great school, being on her team that was taken away from her what can be only described as a rush to judgment. i know how it should have been handled by the university. we hope that they will see the light on that point and do the right thing. lauren: the tone on of "the new york times" criticized celebrating her downfall on old video, a mistake. david: lauren, thank you very much. speaking of cancel culture a "new york post" op-ed is keeping people voicing any doubts they have about the effectiveness of lockdowns. come in todd piro, "fox & friends" first co-host. pyro, i want to emphasize that. >> no worries, sir. david: you know how long we've known each other. sometimes the mind reels. >> i miss seeing you in the hallways, my friend. david: soon we'll be back in the hallways together. >> yes. david: this whole cancel culture thing going on in our society,

right? not just the united states by the way, it is happening worldwide. what do you make of it? >> the karol markowicz article in the "new york post" people reaching out to her why new york liberals i want my child to go to school. i want the schools to reopen. i'm too scared to let my voice be nonbecause i could lose my job. my child could be ostracized. think about that. these are uber liberal people who believe in progressiveism yet they're worried being can sell for sharing some opinion that don't go along with the group think or norms of social control we're forced to live with. you hear the story that lauren simonetti just referenced. that is frightening. we were talking in the break, your grandchild, my new child, i don't want to be live in a world make a mistake at 15, a word she

shouldn't have said but could have her entire life ruined on the whim of somebody else. these are frightening times. something has to be done about it. we're going down a path that harkens back to nazi germany and other bad times in world history. david: we did do something about it. americans elected donald trump in 2016 partly because of the fact that he was fed up with that whole political correctness, cancel culture attitude there was major pushback. he still got 74 million votes in the election in november. i mean that's a huge number of people in america who are fed up with that and their voice deserves to be heard but how will it play out in a biden administration that is old school as far as these things go? >> what would be interesting to watch is how the biden administration regulates tech because the reason we're seeing this cancel culture is 100%, i'm willing to put my money behind that, because of twitter, facebook, institutions like that where this very, very vocal

minority, what is even less than a minority, makes this big hullabaloo and it ends up ruining people's lives. we're americans. we'll have disagreements. that is healthy in a democracy. what we can have is a few people determining they will go on a mission to ruin someone's life and because of the platform of twitter, of facebook, of other social media, they're able to do that. i'm going to put my lawyer hat on here, 10 seconds. i wonder down the line if there is some sort of cause of action of instances like this, you're not a public person, but somebody takes it upon themselves to make it their business to ruin your life, rouge your financial interest, your future? it will be interesting to see if some ramification becomes of that. david: they call the people push the cancel culture view, they call themselves progressives. there is nothing progressive about this. this is completely regressive. we've seen the story in the past. it usually presages very bad

times if not totalitarian times. i hope we don't end up there we have to leave it at that. todd piro, great to see you my friend. congratulations, wonderful news. >> right back to you, grand pay, a lot of good news came out of 2020, despite the bad news. we want to emphasize that. thanks, todd. still ahead we have joe concha, tom homan, jason rantz, a full packed show. joe biden pushing for fiscal responsibility while in the senate but he is looking to spend trillions, at least five trillion dollars so far and more on the way. we'll be on that and more right after this. ♪

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>> we are very optimistic about georgia? we have two senators running against radical socialists and the state of georgia is a red state still. >> what happens in georgia, hopefully it stays robbed again, for the markets that have a real system of checks and balances. >> on the trip wire it's fairly and we don't think the democrats will sweep but people will be this incentivized for risk taking. it is risk taking that fuels the capital markets and the ipos. >> we will have to worry about the vaccine and the rollout and we got to worry about what may or may not happen in georgia.

we have to worry about lockdowns that may affect the economy. >> kids are traveling, keep traveling from china to europe and all of that stuff and now they're suddenly coming out and saying it can get worse than this. they have a very damaged credibility. ♪ david: rolling stones to start the hour sounds good as we work our way toward december 31 but coming up thursday night, i guess it is thursday night is new year's eve and i hope you have a chance to celebrate somewhere. will be indoor celebrating all over new york this time. it is 11:00 a.m. on the east coast, 8:00 a.m. in california and i'm david as men and for stuart varney, big show ahead. joe concha, tom homan, jordan rance and gordon chang talking about china. markets continuing their record run and we are way off our highs and we started the morning with but we are all in the green so

that is good news and it's a flat market today taking a breather after all those record highs but right now as low as those up marks are we are still in record territory. and now this, new report revealing that twitter has a censored or altered tweets by president trump and his campaign account. 583 times since may 2018. joe biden has not been censored once in that timeframe. common joe concha. joe, talk about a blatant violation of section 230 and supposed to be social media companies open platforms without any censoring and without any editorial content, this is blatant political content distorting, is it not? >> it is certainly, david. merry christmas and future happy new year to you. look david, section 230 needs to be repealed even democrats agree with that. here you have again 583-zero.

that is to say then joe biden never lies or never speaks a missed truth in any way, shape or form. when he says that the trump administration has done nothing to help small businesses, nothing during this pandemic and that's obviously something provable as a lie because paycheck protection program for instance 525 billion with over five million businesses and when he says something like that or tweet something like that out why isn't that being flagged or when he says that the investigation into his son hunter biden is russian disinformation and a smear campaign to answer a question from peter ducey last week that should be flagged as well and those things are not flagged because obviously twitter and facebook are in the pocket of joe biden literally because they have executives that donated to his campaign and not the trump campaign so you see this one, two, insidious punch with the hunter biden story for example, were traditional media basically pooh-poohed the story is that it can't be verified because he never tried to verify the story which contained actual e-mails

from hunter biden and then social media comes in with the knockout blow to censor and suppress that story to make sure it doesn't see the light of day and that's where we are in 2020 from a media perspective. traditional and social working for one party to push their candidate over the finish line. david: there is another story, eric swalwell in the larger story beyond eric falwell specifically of chinese espionage in the united states but he is the target right now or at least was of chinese spies and clearly was caught in a webf the spies but "the new york times" has not written nothing about this story. how could they possibly ignore, i think, the biggest espionage story since the rosenbergs? >> certainly. remember who eric swalwell is, this is not some random lawmaker in california but this is somebody who is right up there with adam schiff in terms of being the michael abbott nadia of congress and hundreds of interviews on cnn and msnbc and "the new york times" printing

everywhere word that he has to say about the sitting president of the united states being a russian agent and then for whatever reason after this is revealed in 2015 the fbi warns him this is a chinese spy that you are in a relationship with what does nancy plosive do? a couple months later she puts him this random 33 -year-old on the house intel committee which only oversees the cia, in other words the nation's secrets after you economize like that, how do you do that? that's a story if the paper record will not cover it. david: if they did we may have more details in terms of exactly what happened, was he contacted by the fbi? to be cooperating with the fbi and trying to track down the spies? some of the information might excuse some of what he got and trapped into because of his cooperation but we don't know any of that because they are not covering that and it's a huge, huge story. i want to move on to what happens to the media in a post- trump environment and there is an atlantic article that talks

about and they quote jim acosta and other people of course were brutal on president trump and there was not one press where he was engaged with in which it did not involve this major battle between costa and the president and others like him. they are saying in fact they will not be doing the same fact checking on biden that they did on trump. this is an admission, is it not, of how pious they are? >> well, there was that #metoo movement that's bonded 2017 and adjust movement and that became in the media the look at metoo movement led by the jim acosta knows of the world. joe biden, this will promised that he is the next coming of george washington in terms of being a truth teller, to be forget in 1988 when he first ran for president that he had to drop out of that race because of the plagiarism scandal? i can go through all the litany of myth truths and liza joe biden has told in the campaign when he was speaking so here is

how it will work, david. when something good happens during the biden administration it will be because of biden's sober and steady leadership. if it bad happens it will be a repeat of the obama years with a predecessor will be blamed because of problems that the current administration inherited. that's basically the way it will work and as for fact checking take a four year vacation. david: did you ever hear any fact checking mainstream media fact checking on his assumption or what he said that he knew nothing about the business deals of his son hunter? after having been involved so deeply with what hunter was doing on those trips -- we want to do one final subject which is not quite as serious as the others but all larry bolden, wife of alec baldwin, being accused of lying about our heritage. >> you have tomatoes, we have cucumber. >> there has been some question about where i'm born and i'm born in boston.

david: why did it take so long for her to come clean? >> david, i will fact check you. it's hillary. that is her name. the hilaria story is hilarious. you're caught dead to rights. you have to be asked how to say cucumber in english when that your primary language? her speaker page that she was born in spain. she said in a podcast she moved to america when she was 19 when she literally said she was born in boston. the baldwin's are the gift that keeps on giving. that invitation of how to say cucumber is the worst imitation i've seen since alec baldwin at doing trump on saturday night live. david: that's true. [laughter] although some people like that. joe concha, thank you my friend, happy new year. development star david cross has choice words for joe biden and his call for unity. susan, what does he say? susan: he wants the vision and blood. he used colorful aggressive language and his tweets.

he called for violence against trump supporters which, by the way, was not censored by twitter but not alone in this and joins the list of others that have friend trump supporters with punishment. msnbc host that said i hope the pain and anxiety you feel now is excruciating and you deserve all the pain and even more but not everyone agrees on the left so they denounced the threats saying they're not divisive and comedian bill marr was a part to say as he didn't want to live in a country without red states. david: as far as we can tell that language is still on the tweet account. it has not been removed. susan: has not been censored. david: unbelievable. susan, thank you. staying in hollywood a lot of them flee in california this year and a lot of those stars. lauren, who left? lauren: makeup artist, kat found the one from la to indiana and blamed and this is a quote that she tyrannical government overreach of california. the actress busy phillips moved

to new york city because they blame the wildfires and bad air in california, actor josh brolin moved to his hometown of georgia but i did not know this, rosario dawson is dating new jersey senator cory booker so she moved across country to spend time with him and i saved the best for last. the comedian rob schneider lashed out and has been lashing out against california governor newsom and the states restrictions and their high taxes and threatened months ago to move. david, i'm not sure if you did and where he went but he's been threatening to do that. david: thank you, lauren. remember larry ellison? he also left california for hawaii and out elin mosque has flown out to visit. susan, this was for business though an application. susan: given it was a short stop over yeah, work and business. with elin musk on twitter saying the private jet was spotted

landing in the private island of larry ellison. he wanted to seek advice for end of quarter tesla tomorrow. larry ellison is on the board around $10,000,000.10 million stock one of the largest individual shareholders and both tesla and oracle are moving to texas. we know tesla is moving the cyber factory truck there where oracle's headquarters are moving from california but as you mentioned unlike elon ellison personally moved to hawaii instead of austin and o to be a fly on the wall. you can check my g5 anytime david flying to lanai and give me half a billion dollar island b1 thank you, susan. i think tesla is still going to keep that plant in fremont, right? susan: yes, they will build the truck in austin. david: but elon musk himself is going to texas. susan: we will see how long he

stays there. david: susan, thank you. big story, nfl making its streaming debuted this past weekend on amazon prime. twitch and other mobile platforms. lauren, how may people tuned in to watch the game? lauren: 4.8 million and that's a record for a regular on season game, 49er's first the cardinals and the upshot of this, amazon could throw a big ranch in negotiations for new contracts at the main networks have coming up with the nfl. david: that is the future. lauren, thank you. now this, in seattle washington nearly 200 officers have left the police force as crime skyrockets. surprise, surprise. seattle talkshow host jason ranz has the exclusive report for us coming up. the washington post slamming the presidents border wall efforts calling them quote, a waste of time and money. tom holman has a lot to say about that and he is coming up. were also looking at joe biden's spending plan in the past days post for fiscal responsibility

but now he's looking to spend trillions of more than we've already spent and we are on it, third hour of varney just getting started. ♪ ♪ ♪ ♪ ♪ ♪ ♪

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just get a quote at libertymutual.com. really? i'll check that out. oh yeah. i think i might get a quote. not again! aah, come on rice. do your thing. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ david: border wall companies are scrambling to finish their work in the final day of the trump presidency. lauren, the president has promised four to 50 miles of new border wall by the end of the year so how close are we to that goal? lauren: perry )-right-parenthesis custom and border patrol says 423 miles of new border wall has been built as of december 7 in construction never stopped during the pandemic so the question now david is does president-elect biden tear it down?

essentially wasting taxpayer money or just stopped building it altogether. david: it's extraordinary how many of the promises the president made have been completed at the end of this term. lauren, thank you. look at this headline from the washington post as per what lauren was talking about it reads quote, trumps border wall was a complete waste of time and money. come in, tom homan. your reaction to that washington post piece? >> total incompetence. whatever -- the story was based on nothing but false information. from the first sentence to the last sentence and everything in between was wrong. not one person editorial board has been to the border. they obviously did not talk to a single border patrol agent and they obviously did not look at the data because the data is available on the website and clear what apprehensions look like before the wall was built and after the wall was built. border walls work.

the data shows every place they built a wall, everyplace has resulted in decreased level of drug flow and immigration. in this op-ed they said apprehension is on the rise and exactly. because of the biden effect. they failed to mention that because of promises he made but what they failed to recognize was border patrol is catching more. why? because of not catching them where the wall is by catching them where the wall isn't because the walls are designed to funnel people so the border patrol catches more and there is less got a ways. the wall is working. david: tom, do you know if any border patrol agent that is not in favor of wars is helping them out in order to prevent all the illegal immigration? >> no, this wall is built. the president built a wall because border patrol needed it. they been asking for this fall for decades. i was a border patrol agent in san diego in the early '80s and we used to catch over 1500 soccer fields in tijuana and as soon as they build a border barrier that 1500 dropped to 20.

border walls work. one other thing that the washington post failed to mention, hillary clinton voted for four borders areas and chuck schumer and even joe biden voted for border barriers and 2006 because they know it works. biden wants to turn out the wall and spite and if he did the right thing and listen to the border he would want more wall. david: he hasn't specifically said he wants to tear down what has been built so he hasn't gone that far but if that is done what happens to illegal immigration along the border? >> illegal immigration will climb and we will see a search. he said it will not happen quickly but hopefully he's watching the fox network and listening to people talk about promises you made but look, i don't thank you can will tear down the wall but he's looked that he will not build the wall. if you will build upon the success of the trump administration he could have the first secure border and history of this country.

no one has torn more to support the border and its record illegal immigration decreased under this president with no help from congress but in matter fact congress bought him every step of the weight and he ought to take a page out of the trump playbook and follow that. david: tom, as you will note there are lot of democrats who called for illumination of ice and cutback in tremendous numbers of border patrol agents. what happens? again, biden has not said he's for elimination of ice but he and kamala harris specifically has said that they are transforming ice into some other kind of institution, i'm not sure exactly what that is so what are the agents themselves working for ice and border patrol expecting to encounter in terms of change? >> look, i said for over a year when they talked about abolishing ice i said they will not abolish ice. what they will do is cripple them. they will cripple them by taking their money away so they can do their job.

they came out with a new budget enforcement movable operations has lost over three and a million dollars which means they have 52,000 beds to put illegal aliens in and now they got 31,000 which means we are back to catch and release. if 100,000 illegal aliens come across a border like they did the year before last we got 31,000 beds so it's catch and release. again, they will cripple them and make them ineffective so they can't do their job. david: 15 seconds, morale among border patrol agents and ice agents i imagine it's at a low point? >> low point, based on what joe biden has promised it's a low point because they had so much success under president trump and it will all go away on the biden administration if he keeps his promises. david: tom homan, good to see you. thank you. second live look at the u.s. debt numbers more than $27 trillion in accounting. all the debt continues to climb

above the gnp joe biden is promising to spend trillions of dollars to help boost the economy and his climate change projects let's go to hilary vaughn who is in wilmington, delaware so hilary, how much is joe biden looking to spend? reporter: several trillion dollars david and one famous saying that president-elect biden is known for is if you show me your budget i will show you what your priorities are in the biggest ticket item in his biden's $2 trillion but he also is planning a lot of increased federal spending on infrastructure, healthcare and education and as you mentioned the national debt is $27 trillion but in the past biden has been very concerned about the rising deficit, in 1995 the national debt was just a fraction of what it is now 3.6 trillion dollars in back then he advocated for cutting things like social security and other

entitlements to get the debt under control. >> when i introduced the budget freeze years ago the liberals and my parties said it's an awful thing you are doing, joe. you are all programs we care about and you are freezing them, money for the blind, the disabled, education and so on. my argument then is when i make now, if we don't do that all the things i care most about will be gone, gone. >> now, biden is on the flipside of that argument proposing trillions of dollars in new government spending and the committee for responsible federal budget is blasting that approach urging him to take the debt more seriously sane quote, his campaign may include the staggering 11.1 trillion of spending increases in tax cuts. this has pushed the national debt to 127% of gdp by 2030 well over the current production of 109% in biden's commitment not to raise taxes on those making

below 400,000 annually means it will be nearly impossible to find enough money to fill in that gap and is a neglect biden has a lot of day one priorities none of them are addressing the national deficit. david. david: hilary, thank you. after shootings search 160% last year please are now pledging with the public to stop violence. not much of a different story in seattle where 200 officers just left of the over the rise in crime. guess the summer of love is the thing of the past. jason rantz has the exclusive detail and if you know jason you know he's been on the ground since beginning of all the problems they had there in the mass exodus of seattle police officers next. ♪ ♪

♪ david: a look at the markets and they are basically flat and we've seen all of the industries going random and green and then read and then green and your susan, your looking at specific market movers that are. susan: yeah, red, green summer talking about the e-commerce darlings of the year, ms sonic, shop if i in the green and they

shipped one and half billion items over the holidays and a big number and that means a blow out online shopping for the two largest e-commerce players in north america and let's talk boeing. rallying today in the max got back in the skies cleaning the first commercial flight on american airlines since being grounded almost 18 months ago and speaking of comebacks, check out allie baba, historic rally today at the losses with the company possibly finding a solution with the financial arm and it deals with beijing. they are regulating it like a bank and said so that might be an olive branch. streaming wars, netflix is flying today, wonder woman success on hbo max means more blockbusters will likely pitch streaming earlier than previous releases and guess who that will benefit things like netflix. david: absolutely. not everyone liked it and i walked out in the middle of it.

susan: reviews are bad. david: but we will see more of it. meanwhile, 200 police officers are expected to leave the seattle police department by the end of the year amid budget cuts and anti- police protests defunding the police and common seattle radio talkshow host jason ranz. this is your exclusive report and i see things very simple when it comes to crime. you have fewer cops on the street and that means you have more crime, am i wrong? >> you are not wrong. two numbers to pay attention to. 191 and 196. 191 as of right now sources tell me the number of cops who decided to separate from the department this year, 96 is the percentage increase of homicides year over year. i would argue that they are very clearly connected. 191 to put it into context the amount of cops leaving this year is historic and it is believed to be the highest that the seattle please department has ever seen. the general number we get is somewhere around the mid double

digits, 50, 60, maybe 70s with one anomaly back in 2018 so a couple of years ago when there was working without a contract and this is when the seattle city council and the mayor's office were doubling down on demonizing police and that was before george floyd in the d from the police movement. cut to 2020 when we got this increase in the progressive anger towards the police and we are seeing the consequences of the defined movement and you saw an 18% cut in the seattle police department budget with promises of more to come and you've got police officers being told they are not able to do their job being demonized pretty much everything all day and they are abandoning the department and going to other departments within the region. david: jason, we seen the same all over the country and here in new york by the way we've had a 200% increase in the retirement rate among cops. 1200 retirements this year, 1500

additional requests for retirements and those are pending and we've seen an increase almost 100% increase in shootings in new york and it's the same in chicago and it is not rocket science and as i said before it is very simple. less cops means more crime. you will not have a society without criminals and it's just that simple. >> yeah you need to working brain cells to figure this out just go to portland. david: forgive me for interrupting but has the people in portland be gone and in seattle begun to figure this out? there is a relationship between beating up on cops and defunding them an increase in crime? >> it's an interesting question because it's difficult to figure out at this point. you got two groups of people, very loud progressive and socialist activists who have commandeered the conversation and they've got the ear of the council and so right now we are only hearing from them and still in the middle of a pandemic

which means people are not out and about and not going about their normal day so were not hearing from the average person in the way we would if life was back to normal. we don't have an election coming up for a while and we just got through an election last year which the council got further to the left so you know, i've been saying seattle needs to hit rock bottom before we get something to change and the scary part is i don't think we've hit rock bottom yet and i don't know how many more dead bodies and homelessness and drug addiction and all these problems with businesses leaving the area, i don't know how much more we need to get before we get to rock-bottom but certainly the city voters do not seem to think that we've gotten there yet. i always seem to think that maybe this is the time that things are turning around and it never happens. david: ask moderate democrats and the house of representatives whether they like to defund the police movement when they will say no, it cost us more than a

dozen house seats so elyse is happening on a national level and people are beginning to realize that this rhetoric is just insane and contrary to any sense of common sense at all which is a rare commodity these days. jason, great to see you, wonderful reporting all year long and you've been doing great work. officials in portland are seeking the public health in stopping the violent surgeon crime. lauren, what is the latest crime stats report? lauren: i will add to the grim numbers that you've been sharing. this is for portland and as of christmas eve at least 850 shootings in more than doubled the last years three and a 93 and at least 53 murders and the portland police department is now pleading with the community to help turn it around. it's not just violent crime where they saw more than 4200 instances this year alone for property crime to, 35,000 instances. david: unbelievable.

it's just not coincidental but very simple. lauren, thank you. we talked about cancel culture in the last hour and "the new york times" not been accused of glorifying cancel culture after celebrating one teens revenge on another classmate in the full story coming next. we have the top five politically biased college courses of the year and wait till you hear these prayed we tell you which colleges are teaching them and are you wasting your money? you will know in a minute. ♪ ♪ research shows that people remember commercials with exciting stunts. so to help you remember that liberty mutual customizes your home insurance, here's something you shouldn't try at home...

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janie, come here. check this out. let me see. she looks... kind of like me. yeah. that's because it's your grandma when she was your age. oh wow. that's...that's amazing. oh and she was on the debate team. yeah, that's probably why you're the debate queen. - mmhmm. - i'll take that. look at that smile. i have the same dimples as her. yeah. the same placements and everything. unbelievable.

david: the markets have not changed once again and you see a couple indexes and the red but they are just barely so. markets are essentially flat. markets are taking a breather today with certain exceptions that we will get into in a moment but meanwhile you

probably heard of the story about "the new york times" being under fire for publishing a story of its own that glorified the so-called cancel culture. fox news correspondent leland bidart to join us to break down the story. >> keep in mind the video we will talk about that was talked about that as a years old incident in the video was posted back in june in the article came out on saturday. many are asking the times why now? what is new when the word news here and why subject an 18 -year-old young woman's life to ridicule once again. meme gross is a white cheerleader and jimmy galligan comes from a mixed race family and they went to high school together and here is the timeline. 2016 meme recorded a 32nd video which used a racial slur and referenced her getting a learners permit for driving. in late 2019 he saw the clip online in the days after george floyd's death. he posted the video and meme became the center of a national

media firestorm. quickly the university of tennessee cheerleading team took away her roster slot and she withdrew from the university. >> it can only be described as a rush to judgment. the school, university of tennessee, caved in and a panic to a lot of the scenario of the social media going on and they didn't give her a meaningful investigation. >> a lot of folks are pointing to 2019 clip, former president obama as a warning that it's not being followed about cancel culture. >> like if i tweet or # about how you did not do something right or use the word wrong verb or then i can sit back and feel pretty good about myself because man, you see how woke i was, i called you out. [laughter] but that's not activism. that's not bringing change. >> he sees things differently.

quoting "the new york times" for his role mr. galligan said he no regret that i never posted that video and nothing would've happened and he said because the internet never forgets the clip will always be available to watch. i will remind myself you started something he said with satisfaction. you taught someone a lesson. mimi she cannot figure out how to tell people that she is someone different than she was when they publish a story when she was 15 years old. david: the fact that the times would glorify what this guy did is extraordinary. leland, thank you very much for that report. and now this, related to colleges and universities requiring courses, requiring courses that push left-wing political bias. lauren, what are some of these mandatory classes? lauren: and penciling at university of pittsburgh is automatically enrolling all first year and an anti- black

racism class and as for the not mandatory courses vanderbilt signed up about 850 students which was the most ever for u.s. elections and they learned about the presidential elections and a lot of the exams the question was is it is the constitution of the united states designed to perpetuate white supremacy and the correct answer, true pit let's go to the city of the university of new york, queens college, they offered in urban studies class and asked to write about three facts that made donald trump rich. brooklyn college, lgbt q class, professor said he would remove any student who missed gendered someone else in the class. we're not done because 2021 is a few days away and tulane university will offer a course called, feminism and trump landy. always donald trump has disparaged and heard women. david: and the parents could save about $60,000 a year if they just give their kids

subscription to "the new york times" and that would take care of it because they're getting the same thing there. lauren: especially when you talk about vanderbilt and tulane. that's right. david: unbelievable. lauren, thank you. take a quick look at barnes & noble education, bn ed. they were on the college bookstores and they are looking to cut costs again. many students look at another semester of remote learning which is a whole another story but that stock is up about almost 6% right now. and now this, as biden's nominees gear for confirmation hearings new report saying all of them can expect questions about how they will deal with china. gordon chang knows china like few do and he has got some details about what we can expect. gallup releasing its most influential people list of 2020. coming up we tell you who takes the two top spots but take a guess before we tell you. more varney right after this. ♪

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david: gallup is revealing the most admired man and woman of

2020. lauren, this is the ultimate odd couple. lauren: donald trump and michelle obama. odd couple, what? the most mired. 18% of people voted for trump and he tied president barack obama in the past but defeated him this year. essentially ending obama's 12 year run in the top but president obama's wife, michelle obama, she is the most admired woman for the third year in a row. kamala harris came in second place and lamia trump came in third. david: thank you, lauren. let's have a look at tesla if we can. markets are basically flat down a little bit and susan, china is looking to threaten tesla's dominance next year so what is is all about? susan: think of more competition, local competition is wrapping up and that includes [inaudible] have soared in the trade and tesla is winning the chinese electric car market and opening the shanghai factory about one year ago but ramping

up production fairly quickly and you have competition coming down the pipeline with local players also ramping up to sell more cars in the future but tesla currently sells more cars a month then there next to three china competitors combined. tesla's success in china has been a big reason of the stock is up six 100% and by the way, i want to show you lumen are founded by that 25 -year-old austin russell as the ceo update this morning up close to a%. it's on chatter they might be signing a deal with tesla and as you know the scanner maps out the road in the landscape for self driving. david: alright, susan, thank you. president-elect joe biden threatening to one new parts of president trump's foreign policy, including the u.s. approach to china. common gordon chang. he knows more about china than anybody i know. because you do know so much about it, gordon, what worries you the most about the way biden t might approach china?

>> first of all david, they had the outdated engagement approach that the united states should work to strengthen the communist party because as it grows it will become benign. that view is obviously outdated. the thing that worries me second-most is john kerry as climate change czar because there is a feeling and this is widespread in washington and elsewhere that the biden administration will give up important things on china in order to get an enhanced climate deal with beijing. those are the two things i think that troubled people the most, not only here but also in the region as well. david: on that second point and on climate change, the bottom line is they want to put handcuffs on the u.s. in terms of our need to comply with certain standards that lower manufacturing base et cetera but china will have a free ride for ten years before they have to do the same, right? >> writes, that is the paris accord. the paris accord does not put a

cap on china's carbon emissions until sometime quote unquote around 2030. that means china has an incentive to increase its greenhouse gas admissions until that turn of the decade whereas at the same time the u.s. has agreed to stiff restrictions on its own economy in the climate accord and of course president trump got out of that because it was so unfair and a deed so unenforceable. david: there is the other big elephant in the room regarding china and that is the coronavirus because it is clear that they released the virus while they were closing down china and closing down wuhan so that wuhan did not affect other parts of china and they were allowing people from want to infect other parts of the world, namely the united states and europe and that is what led to the pandemic that has killed millions all over the world. they haven't paid a price for that in fact just the opposite, wall street journal had a piece the other day that suggested that they have a 5 trillion-dollar gain in

stocks, $5 trillion in stocks during the pandemic so this year has been extremely good for china despite that it's been so lousy for the rest of the world and they are not going to be forced to pay any price for unleashing this virus, right? >> that's absolutely right. david, it's worse than you said. china didn't just allow this virus to leak but it lied about the contagiousness, said it wasn't contagious and at the same time the chinese ruler pressured countries not to impose travel restrictions and quarantines on arrival from china while he was locking down parts of his own country. you put that together and it says china maliciously spread this disease and indeed there have been almost no costs on beijing for this and nobody thinks the biden administration is going to impose those costs because biden has been talking about cooperation with china on coronavirus and that's absolutely the wrong move for something that is now killed

335,000 americans. david: i got to talk about a story that you won't hear about anywhere else. it used to be completely blacked out and it wasn't social media but that's hunter biden's relation with china and the biden families relation with china and whether that will compromise any decisions on china and what is your theory? >> two things about this. first of all, there is a money relationships. i'm not as worried about this as most people because money always leaves a trail and the fbi, irs and the u.s. attorney's office in wilmington will get to the bottom of it. what i'm concerned about is hunter biden's personal conduct. we know he's a troubled individual and we know he went to china and if he did something compromising on chinese soil china's ministry of state security will know about it and have recordings and that they could use as blackmail. we americans will know about that and we eventually will get to the bottom of the money but the point is, those two things

together should trouble every american about china's leverage over the incoming president. david: they troubled me. gordon chang, good to see you. thank you. we have more varney right after this. ♪ ♪

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david: markets are basically flat but real news just passing the wires right now is that the democratic leader in the senate, chuck schumer, has announced

that at 12:15, 15 minutes from now he will try to pass in the senate the house passed-bill to give emergency 2,000-dollar checks to americans. so that deserves to be watched. i know jackie deangelis, my friend at cavuto will watch that story in the hour to come. jackie: we absolutely will. good afternoon, david. welcome to "coast to coast." i'm jackie deangelis in for neil cavuto today. the senate is set to vote on boosting the stimulus checks to the 2,000-dollar mark. we see what impact it could have on georgia races. new york city restaurants are fighting back against increased restrictions. owners are calling for officials to follow the date the at that. novavax is entering fades three of three phase three