do you have a "strange inheritance" story you'd like to share with us? we'd love to hear it. send me an e-mail or go to our website, strangeinheritance.com ♪ lou: good evening, everybody. a massive selloff on wall street driven by weak earnings for boeing and chip processing company amd and why would speck thattive trading -- speculative trading on gamestop and amc and a number of other stocks little known and now known better than ever before. federal reserve chairman jerome powelled today didn't help the markets much, as is his wont, saying the pandemic is causing economic uncertainty. we didn't the know that, did we? he is always helpful with those

kinds of obvious remarks which undercut investor confidence in the markets themselves. powell also left interest rates near zero. that is helpful but also expected and promised. and we'll keep buying $120 billion a month in government-backed bonds. the dow jones industrials plummeted. the dow fell 634 points, the worst selloff since october. the s&p 500 down almost 100 points, the nasdaq down 355 points. volume on the big board, are you ready? 9.8 billion shares changing hands. we'll be talking with former, with citigroup chief economist bill lee here in just a few moments. our top story tonight, the republicans in the senate making it clear in a procedural vote there will be no successful impeachment of former president trump, and the banality of the

radical dems and their sordid cohorts innocent house will not -- in the house will not succeed. they will be exposed for what they are, low-life, political, petty, venomous hacks who will not be able to prosecute a private citizen, former president donald trump. they may want to pursue him to the ends of the earth, but their nonsense will end with that vote in the senate. it should end before that. we'll take it all up with senator rand paul who has staunchly defended the president and who has directly, directly confronted the radical dems in their inconstitutional conduct. -- unconstitutional conduct. it is an amazing story and demonstration of political courage by senator paul. former president trump fought against the democrats, the deep state, the left-wing national media along with their masters on wall street and silicon

valley, and he fought all the time for american working men and women and their families. and the anti-american elites doing all they can to silence him still and the 75 million americans who supported his agenda and voted for him. we'll be taking it up with investigative journalist sara carter and michael lint, author of "the new class war: saving democracy from the managerial elite." and president biden has issues more executive orders, several on racial equality. we'll be talking about that with former civil rights activist and urban league official bob woodson here this evening. and president biden making significant changes in the job market, killing thousands of jobs in the energy sector, replacing them -- or so he promises -- with green jobs. he is addressing climate change, he says.

and president biden insists he is not banning fracking even though he is banning fracking. fox news white house correspondent peter doocy has more for us. peter, good to see you. >> reporter: lou, good to see you as well. president biden says today is climate day which he says also means it is jobs day. that does not mean these plans he is putting into motion are going to let every american keep the job that they have right now. just listen here to the climate czar, john kerry. >> coal plants have been closing over the last 20 years. so what president biden wants to do is make sure those folks have better choices, that they have alternatives, that they can be the people that go to work to make the solar panels. >> reporter: to preemptively fight climate change, the biden administration is reportedly ready to tell fema to send up to $10 billion to combat, to build seawalls, pardon me, and to reaz

homes in flood-prone areas. that was in the "new york times." >> listen, when most people get up this morning or have, when they got up this morning, they didn't look at it and say that their number one priority was climate. they probably looked at it as the virus. we need to keep the priority where it is. >> reporter: but the white house is telling us today they think that fema can handle covid-19 and climate change with this statement: getting the pandemic under control is a top priority for the president and this administration. while we are looking for opportunities to help communities to become more resilient to floods and fires, that does not and will not limit our ability to fight this pandemic. any reporting to the contrary is simply misininformed. and john kerry admitted today even if the u.s. gets down to zero carbon emission, the problem is not going to be fully addressed because it is not the united states, but other countries like china and india that are causing the real

problems. lou? lou: peter, thank you very much. peter doocy from the white house. a new state audit found california paid more than $11 billion in unemployment funds to inmates and to scammers of all kinds since march. another $20 billion in claims still under review. california's labor secretary, julie suh, is failing up, however. she is president biden's choice to become labor deputy secretary. for more on this extraordinary development, we turn to fox business' jackie deangelis. >> reporter: as if states weren't having enough trouble getting through the pandemic, a new problem coming to the forefront, covid relief fraud. in california labor secretary julie suh telling reporters about 10% of the funds that the state has paid out have been confirmed as fraudulent, another

17% considered suspicious. we are talking about a massive amount of money here, $114 billion in total payouts, $11.4 billion in confirmed fraud and possibly another $20 billion more in fraudulent activity as well. how could this happen? essentially, through hacking. there were broad eligibility requirements to get funds. part of the reasoning was to make it easy for people who needed the money to get it quickly. but that also made it easy for people with bad intentions too. and we're not just talking about domestic criminals, we're talking about sophisticated criminal enterprises from russia and nigeria. and it's not limited to california alone. it appears that as many as 12 the other states are seeing an increase in fraudulent activity in this area including arizona, new york, ohio, texas and washington state. in washington state $357 million was recovered according to the ap through collaboration between federal law enforcement and financial institutions, but it pales in comparison to what's

been taken. this all comes as president biden wants to pass another $1.9 trillion stimulus plan that includes more unemployment insurance. its plan would increase the benefits from $300 a week, approved in december, to $400 a week, and it would run through september of 2021. lou? lou jackie, thank you very much. jackie deangelis with an extraordinary story on incompetence in government, in california and perhaps soon to be visited upon the federal government. as if the federal government needs more help in that department. more on the markets now. the white house says it is watching the wild trading in two stocks particularly, gamestop and amc, that was driven by social media. td ameritrade and schwab restricting trades on those companies. melvin capitol and citron capital closed out of their

large short positions on gamestop. joining us now to take all of this up is bill lee, former chief economist for citigroup, former deputy division chief at the international monetary fund. bill, great to see you and under such -- [laughter] well, a dour atmosphere as was generated on wall street. this was a significant day. to see gamestop, to see amc, their stocks for crying out loud, tripling without earnings, in fact, with losses. what is going on here? >> well, you know, the gamestop kind of trade phenomenon has caught the attention of almost every trader today, glued on what happens with gamestop prices. and in a way, this is a story the about the democratization of -- talking about how to take down market professionals. and, you know, get rid of short

positions chasing after imbalancing caused by huge shorts such as what we had at gamestop. 140% of float, that's huge. and that kind of market balance is something that's ripe for taking down, and market professionals have done that over time. but this time it's done by a bunch. of kids. and, you know, hooray for the kids because they had enough wherewithal to sniff out where the opportunities were, and they made use of it. so in some ways, that's a good thing. but this is also a distraction because the market collapse in general should have been anticipated when president biden said yesterday we've got to be revising trajectory of vaccines from 100 million people down to 100 million shots. well, what does that mean? it means that the lockdowns are going to continue, and what do we know about lobdowns? in march when they came down, the market crashed, the volatility went up to a historic high of 82 on the vix, and right now the market has returned a bit. but the rolling lockdowns caused

people to become more wary about whether or not the extent it's going to continue, especially with growing lockdowns that are growing in intensity. lou: there's also a possibility certainly among some investors to be listening to at least the reporting on president biden's statements. if not the president himself. as he is basically agreeing with the president, donald trump, that he disagreed with and contradicted on the very issue. and now looks, well, he doesn't look solid in his reasoning, i'll put it that way. there's got to be some tremulous response there in witnessing a president who is unsure and often not squared up on issues. it's, and this is only the first week. >> well, lou, as you know, the fastest way to crash the market is to confound their expectations. when the markets are expecting

biden to come and say 100 million people will be vaccinated the first hundred days and we're going to do more, and then to suddenly change that and say, no, it's going to be prolong ld, i have no idea what's going to happen the next couple months, that is very unnerving and, of course, that's going to crash the markets. and i'm really afraid that if the rockdowns continue -- lockdowns continue, the actual recovery going to be stymied, and the stories heard about california, even the passed stimulus bill the money's not going to go to the right people. it's going to go to people who spend it in the stock market as opposed to targeting the benefits to those unemployed and those in the hospitality and travel sectors who are being laid off and whose businesses are being closed. lou: it is -- government is becoming a little casual here. money that, for example, with julie suh, the -- in california wanting now to be deputy labor

secretary for president biden, $31 billion could provide a lot of relief to a lot of people who desperately need it right now. and instead giving it over to fraud because of sloppy management, and i'm being kind as i say that. let me turn to the amount of money we lost today that some, well, in excess of a trillion dollars in market cap. but within that, a sterling performance from tesla, from facebook reporting of after hours, of course, and apple. $100 billion quarter, $111 billion, in point of fact. apple looks like a juggernaut that has, well, it's plowed through the pandemic, a recession of considerable note. your thoughts about all the bulwarks of the market and what their role will be in the weeks and months ahead. >> well, those two examples show you that the economic core of

our country, the economy itself is really very strong, and it's really firing on all cylinders. but yet the dampening effect from these market expectations being fizzled away, you can see that the aftermarket trade thing in tesla is down despite the fact that they're beating, despite the fact that apple's beating, the aftermarket trading is down. so market investor expectations are things that are very important. and president trump knew how to build up these expectations, to sustain the market going forward. it seems as though president biden, in his desire to have an equitable economy, an equitable distribution of wealth, signaling exactly the wrong expectations for market investors because it's more uncertainty about whether or not the solid foundation of this economy is going to be able to translate into profits for the rest of the companies. lou yeah. class warfare has never been a

sound strategy for any president and certainly not one in his first week who's reversing many of his promises made on the campaign trail. bill lee, great to see you. thanks for being with us. up next, senator rand paul slamming the radical dems for their second sham impeachment effort. he join us here next. we'll be right back. ♪ our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future ...and in kevin's. voya. well planned. well invested. well protected. i'm greg, i'm 68 years old. i do motivational speaking in addition to the substitute teaching. i honestly feel that that's my calling-- to give back to younger people. i think most adults will start realizing that they don't recall things as quickly as they used to or they don't remember things as vividly as they once did. i've been taking prevagen for about three years now.

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♪ ♪ lou: welcome back. our next guest has been courageous and principled in his defense of the constitution and the rule of law in this country on capitol hill, standing up against radical democrat senators and some rinos who have insisted on pursuing a private citizen; namely, former president donald trump. i'm pleased to introduce senator rand paul. senator, i i want to compliment you, first and foremost, for showing your colleagues in the senate how a senator should conduct himself in the face of such an atrocity as what these democrats are trying to perpetrate on our government, on donald trump and all american

citizens. >> yeah, i wish i could put this farce to an end. the bad news is the impeachment will continue. the good news is, is that it's dead on arrival. we proved to them yesterday that 45 republicans think it's unconstitutional to try a private citizen. there's a great deal of evidence. the chief justice didn't think it warranted him crossing the street to be over here because there is no provision for actually trying a private citizen. so this is really, it's a scandal, and it's a double standard, it's hypocrisy. this is the bitterness of the election replayed over again, and it's just a sad day for the country. lou: it is a sad day, and i don't -- i'm certainly no fan of the chief justice, but i have to debt him for refusing -- credit him for refusing to participate in this fraud. and this attack that has been going on for four and a half years against now-private citizen but former president donald trump. your thoughts about his choice

not to do as the constitution requires if there is to be an impeachment, preside over the senate trial. >> you know, i think there's actually a very interesting question, did chuck schumer talk to justice roberts? i think he actually did because, think about it, wouldn't they want justice roberts over hire to sort of -- here to sort of substantiate and give gravity to this so-called impeachment? my guess is, and i can't prove this, but my guess is chuck schumer called justice roberts, and justice roberts said, hell no, i'm not going over there because this constitution says i preside when we impeach the president. there's no provision for impeaching someone who's not the president. how do you remove someone from office who's not the president in how did they so seamlessly go to having patrick leahy, a democrat who already voted for impeachment, preside? how did they go so seamlessly

without asking? my guess is he said no way am i coming over to be part of that charade, so somebody in the media ought to be asking chuck schumer did you call justice roberts. i think it'd be an interesting question to ask. lou: i think it would be a terrific question to ask, and i think you probably provided the correct answer to it. but i also find it interesting, and i'd be very interested to hear your thoughts on this, as to why the national media has not asked in any reporting that i have seen why is it that judge roberts made that decision not to preside? despite the strictures of the constitution or because of the strictures of the constitution. don't you find it interesting that we're not seeing any reporting from any quarter on that very fundamental question? >> well, there are a lot of things they're ignoring. they're ignoring the constitutionality of this, but they've already leapt to this other conclusion that the president incited violence. but the language they point to

is that he said go fight for your country, and the question that should be asked of every democrat should be have you ever in a speech figuratively said we should fight for our country? i don't know of a politician who haven't used those words. but the interesting thing is there's actually defense that he said go peacefully, march up there and let them hear your voice. but what the media, if they were fair, would say what about democrats who have incited violence? should we impeach them? kamala harris has offered to bail out people burning our cities. she suggested people should fund an organization in minnesota to get people out of jail who were committing violence in our cities. should kamala harris be impeached for that? well, none of us have called for that because we think that's absurd. but really if they're going to think, if they're going to say the same standards should apply, should bernie sanders be impeached? when the gunman came to the ballfield that nearly killed steve scalise, he was saying this is for health care.

this is while democrats were saying the republican plan is you get sick and then you die. does that not sound inflammatory? could that not have enflamed this gunman to come to the ballfield? we were better people than they were. we never accused bear sanders of it. but now -- bernie sanders of it. but maybe we should ask him, are you responsible for the gunman? maybe we should ask cory booker who said get up in their face, is he responsible for some of this violence against congressmen in it's a terrible world that they're leading to us, and the idea that they could impeach anybody, you could be impeached. we could impeach lou dobbs. that's a crazy world they're sending us towards. lou: or we could, in point of fact, examine the words of the government that president biden now leads and some of its officers, we could examine the words of president obama and wonder whether we should

prosecute or persecute in kind a former president with impeachment. these are outrages amongst decent american citizens, but are there is no decency among the democrat leadership in the body that you are in right this moment. >> and if we're going to impeach former presidents, woodrow wilson's right up there at the top of my list. i'm really thinking we should file papers on woodrow wilson as well. [laughter] this is insane, what they're doing, but we showed it to be a charade yesterday. and woodrow wilson's there. i'm waiting, as soon as i get the votes, i'm going to put the papers in for wood wilson. -- woodrow wilson. lou: i wish i had a vote in that as well. senator rand paul, congratulations again, and i hope that some of your colleagues were persuaded by your comments yesterday. they were eloquent and absolutely righteous. we thank you for being with us.

senator rand paul. up next, more obamagate documents released again, dispelling the accusations that former president trump obstructed justice when he fired jake comey. we'll take it up next, investigative journalist sara a carter with us. we'll be right back. we'll be right back. ♪ muck ♪ ♪ ♪ why do you build me up, build me up... ♪ ♪ buttercup... ♪ ♪ baby just to let me down! ♪ ♪ let me down! ♪ ♪ and mess me around... ♪ ♪ and worst of all, worst of all ♪ if you ride, you get it. geico motorcycle. fifteen minutes could save you fifteen percent or more.

♪ ♪ lou: new reporting from john solomon and justthenews.com, fbi was aware that the justice department was ready to fire james comey long before he was fired by president trump. imagine. and in those documents, then-attorney general jeff sessions and deputy attorney general rod rosenstein had talked about in january 2017 replacements for comey. four months before president trump fired comey. and that led to a special counsel when he did.

imagine. some of the names mentioned by the cabal to replace comey, former senator joe lieberman, general john kelly and former fbi director robert mueller. joining us now, sara carter, investigative reporter, fox business contributor, great american. sara, great to have you with us. your reaction to these latest documents, an fbi that had already decided to take the course that, ultimately, was followed by president trump which resulted in a special counsel investigation. rod rosenstein the has really been neglected here. his actions now leave a stench through this entire sorry scandal. >> well, you're right, lou. and i like the way john, my former colleague, john solomon, headlined his story when he called it boomerang because

that's exactly what it was. back then, i mean, even in 2017, you know, john solomon and i wrote a number of stories regarding rod rosenstein, the actions taken by the justice department, actual discussions that actually became public from committee hearings where even james baker, the general counsel, had says, you know, look, rod rosenstein had offered to wear a wire to record president trump. he was in discussions regarding the 25th and, remember, during that time when that information came out, rod rosenstein said, oh, i was just angry, i was just joking around. now we know from these cables as well of mccabe, all of his memos, the documents declassified that basically, no, rod rosenstein was serious. he was part of that cabal. and they wasted american taxpayer dollars, destroyed people's lives when they knew all along there was no obstruction of justice.

of course attorney general jeff sessions was already -- lou: there was no -- >> right. lou: there was no -- >> go ahead. lou: -- of any kind other than the crimes created in the fantasies of these bureaucrats who were supposed to be working in national security and serving the nation instead of serving hillary clinton and her plot to stop her presidential opponent in 2016. we have, we have now a clear warning and so much more about what happens when a politicized intelligence agency or intelligence community works in domestic politics and certainly presidential politics. tulsi gabbard had, i think, a terrific comment. i'd like to play that because as john brennan is cawing upon the

entire he check dull -- intelligence community to go after the opponents of the democrats, this is her response. >> let's be clear, the john brennans, adam schiffs and oligarchs in big tech who are trying to undermine our constitutionally-protected rights and turn our country into a police state with kgb-style surveillance are also domestic enemies. and much more powerful and, therefore, dangerous than the mob that stormed the capitol. president biden, i call upon you and all members of congress from both parties to denounce these efforts by the likes of brennan and others to take away our civil liberties that are endowed to us by our creator and guaranteed in our constitution. if you don't stand up to these people now, then our country will be in great peril. >> she was brilliant. lou: your reaction, sara.

>> 100%, she's absolutely brilliant. you know, this used to be the platform of the democrats. think about this, lou, it used to be about civil liberties, civil libertarians fighting this type of police state. now we see not only have the democrats basically adopted this idea of a police state and basically also dehumanized and targeted trump supporters in order to expand these police states as john brennan so eloquently put it. he said, you know, the intelligence community is working double time to basically root out these people within the trump or trump followers. but tulsi gabbard is right, this is extraordinarily dangerous to our constitution and to our nation, and it really is up to the lawmakers. they are the last wall against this. to hold those checks and balances and revoke some of those powers of the intelligence community before we lose it all together. lou: sara carter, well said, and

as always, great to see you. thanks for being here. up next, california still a little crazy. american heroes reraced in -- erased in san francisco and a los angeles councilman doesn't even know the pledge of allegiance. and they recite it each day they're in session. that and much more. we'll be talking with bob woodson here next. stay with us. age-related macular degeneration may lead to severe vision loss. so the national eye institute did 20 years of clinical studies on a formula only found in preservision. if it were my vision, i'd ask my doctor about preservision. it's the most studied eye vitamin brand. if it were my vision, i'd look into preservision. only preservision areds2 contains the exact nutrient formula recommended by the nei to help reduce the risk of moderate to advanced amd progression. i have amd. it is my vision when we started includes our businesservision. we were paying an arm and a leg for postage.

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lou: breaking news, one of the first actions taken by president biden was to dissolve president trump's 1776 commission that focused on patriotic education for public school students. yesterday president biden said that commission was based on ignorance. >> building on the work we started in the obama/biden administration, that's why i'm rescinding the previous administration's harmful ban on diversity and sensitivity training and abolish the offensive counterfactual 176 commission. 1776 commission. unity and healing must begin with understanding and truth, not ignorance and lies. lou: well, are there you have it. the biden era is underway. joining us now, bob woodson, former civil rights activist who headed the national urban league

department of criminal justice. he's the founder of the woodson center that focuses on helping low income neighborhoods in this country. and, bob, it's good to see you, and i want to just start with the 1776 commission and your thoughts about one of the first acts of this president who says he wants to unify people is to take down efforts to bring patriotic education to our young people. >> well, it's going beyond that. music teachers are refusing to teach children the star-spangled banner. that's how bad it's getting. it's even worse: and i think that was at stake. but what i found more troubling or as troubling was his emphasis on institutional, ending institutional racism. and he's talking about ending it. well, lou, you know, emphasizing

race, it reminds me back in the '60s my disappointment reflected. there was a man who said he sat in two months at a mississippi lunch counter, and when they desegregated, they didn't have what he wanted. [laughter] i feel the same way, that -- [laughter] by placing emphasis, we're really hurting the very people they say they're trying to protect. the biggest challenge we face in society is elitism. it isn't racism. and anytime you generalize about a race of people and then try to apply remedies, the benefit always to goes to the elites. we generalize about women, we were going to do something about women. it started in harlem, the me too movement, by a leader there who wanted to give a voice to abused black women. but the elites came in, middle class women came and seized it, hijacked it and then promoted the interests of middle class

and upper income women with the consequence that low income women suffered. and same with women in prison. when you generalize. it ignores the reality when people wear the black face. geraldo rivera did a two hour documentary on the sexual abuse of women in prisons by their guards. every one of the victims was black, every one of the perpetrators was black. it's because it didn't fit the racial narrative, these women went unprotected, and this issue wasn't discussed. and that's the, that's the downside of when you place emphasis on -- and then he calls for economic poverty programs. lou: right. >> this is poverty programs ii. and we have created -- [inaudible] out of poor people. and we're going to do the same

thing, we're going to create a whole new grievance industry around racial equity and inclusion training. lou: yeah. and joe biden is in, is all in, it seems, on systemic racism and race as a principal feature of every argument he wants to make, it seem, when it comes to minorities and what is required, whether it's education. but to equate patriotic education with racism and ignorance, the president is not serving anyone irrespective of race well. he's certainly not serving this country well or his stated objective of unifying us. you get the last word here real quick if we can, bob. >> yeah. well, by emphasizing race, it prevents us from looking at the strengths.

for every -- the 22 black men who were killed, shot by police unarmed versus the 136 in college and emphasizing race, 3.7 africans and caribbeans, and they have incomes, education higher than whites and asians. if racism were the culprit, why aren't all blacks suffering? we need to emphasize on the strengths of low income people to engage in their own social uplift, and we won't do that if we have to always see life through the prism of race. we need to emphasize solutions coming from the inside out and from the bottom up. lou: yeah. yeah, the word systemic, the phrase systemic racism, it's not an accidental one by any -- well, it means that you need a system. you can't deal with it as a matter of humanity and people. you have to have a system, a government, your only way to

salvation according to the left at least. bob woodson, great to see you. always enjoy our talks here. look forward to seeing you next week. up next, fighting the elites with populism. we take it up with michael lynn, author of "the new class war: saving democracy from the managerial elite." stay with us, we'll be right back. back. ♪ sfx: [sounds of everyday life events, seen and heard in reverse] ♪♪ ♪♪ ♪♪ ♪♪ sfx: [sounds of fedex planes and vehicles engines] ♪♪ sfx: [sounds of children laughing and running, life moving forward]

♪ ♪ lou: well, the communist dictator and president vladimir putin speaking to the world economic forum for the first time since 2009 and giving western democracy some considerable advice particularly for our struggling constitutional republic. putin warning against the rising power of big tech saying, quote: digital giants have been playing an increasingly significant role in wider society. in certain areas they are competing with states, and their audience can include millions and millions of users. here the question, how well does this monopolism correlate with the public interest in our -- interest? in our country the answer is straightforward, not well. our next guest has written about how america is rule by a single

class of elites, how corporations are depriving citizens of basic rights and freedoms, and in the process destroying our democracy. joining us now is michael lynn, he's a professor at the lbj school of public affairs at the university of texas at austin, author of the book "the new class war: saving democracy from the managerial elite." michael, good to have you with us, and we recommend the book to everyone in the audience who is concerned about the rise of corporatism and the despotic concentration of power in the hands of the elites whether they be corporatist or big tech oligarchs. good to have you on the show. >> thank you for having me. u: - a d dedin b---- ghdedgh tteavav youe. here. li,tilayla wrlyh dold tnaldmp tnaldno tna tprw ae e' ge'ng toi w tkk eephe theires bning.ng.. udururtttbotutboutowut how imrtimanpohes t t t t tricacal

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excluded from the existing clinton democrats and bush republicans. lou: yeah, what can we do to protect and to secure and incentivize our middle class, some of who would be the definition you're using for elite, but broadly working men and women in this country and their families have been ignored for far too long in this country. they're considered by our policymakers, if they happen to be minority, if they happen to be in a special or underserved group. but as a, as a, if you will, a class, they're ignored by the elites and, in fact, you could say they are preyed upon by our corporatists, our elites, and they are really where this

country is, it's in its founding, the fire of the american dream and where it's always been brightest. your thoughts on populism as expressed particularly in the middle class. >> well, i argue in "the new class war" that the institutions which used to represent the working class and broad middle class, local political parties, trade unions which were important and churches which were powerful in the past, churches and synagogues and other religious institutions, have lost much of their influence in the last 50 years. and so it's not simply a matter of money, it's a matter of power. power in the realm of government, in politics, power in the realm of the economy including the place where you work and power in the realm of the cultures, what your kids watch in the tv and in the movies. lou: yeah, shouldn't --

>> -- mainstream people have lost much of their power. lou: shouldn't every american be a populist by definition? because populist is simply for the people. and i've always had some fun when people ask me why i'm a populist, i say, well, i'm for the people. what are you for? the answer is always inadequate to that, in that discussion. your thoughts about how that answer should be formed. >> well, if you look at the original populists who rallied behind william jennings bryan in the 1890s, they failed initially, but they achieved many of their goals later on through the farmer and labor movement. i think as a rule you can't expect one politician to come in and change the system without a lot of help. so to the extent you have legitimate grievances represented by populist politicians, you need to have elites and also elites in the

private sector and in the media between elections. so it's not a matter of electing one individual, it's of having lots of people at all levels who represent working class people. lou: yeah. there you go. michael lynn, thanks for being with us, come back. we'd love to have you here for further discussion on populism. michael lynn, and the book is "the new class war." we recommend it to you highly. we'll be right back, stay no one likes to choose between safe or sporty. modern or reliable. we want both - we want a hybrid. so do banks. that's why they're going hybrid with ibm. a hybrid cloud approach helps them personalize experiences with watson ai while helping keep data secure. ♪ ♪ ♪ from banking to manufacturing, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm. ♪ ♪ ♪

♪. lou: please voice loudobbsshop.com an pick up your copy of the trump century, the great read about the great president. also pick up your >> good morning, everybody, it is thursday, january 28th. your top stories at 6:00 a.m. eastern time. well, wall street taken for a ride, we are looking at the tug of war over game stop, the major players, plus why online forums are being shut down. and trust in big tech, facebook looking to reduce political content as most americans say that social media does not make the country better. and earnings season kicking into high gear, dow component mcdonald's reporting this morning along with several airlines. we're also breaking down big tech earnings from last night and investor