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tv   Varney Company  FOX Business  May 18, 2021 9:00am-12:00pm EDT

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maria: thank you to dagan and john, see you tomorrow. "varney and company" begins right now. stuart: good morning, everyone. you want a signal that consumers have plenty to spend? look at the performance of 3 big retailers all of whom reported their financial results first thing this morning. walmart strong, the stock is up, to present, he home depot sales up 31%.
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macy's department store supposedly in the doldrums same store sales up 60% all over that is compared to the depressed picture last year. all those stocks especially walmart on the upside to the tune of 3%. there is indeed a great deal of money and consumers pockets. that may be keeping them at home rather than going to work, 21 states of now said no to extra federal benefits. they want to grow their economies and can't do that of people won't go back to work, 21 states note to those federal emergency payments. or some of them. on the market this morning i will call that modest gains. the s&p, look at the nasdaq, that is a more solid rebound upper half of one%. it is pretty much flat.
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nowhere near a tie, it is below 44% and the latest quote on doge, $0.49. no big upside action in crypto so far today. overseas more fighting overnight in israel, no cease-fire. politically democrats are split. the far left leading the anti-israel charge. in new york outrage of governor cuomo's book deal. just as he was consigning covid positive patients to nursing homes he was making $5 million posing as a pandemic hero. remember the big short about the financial crash. the man who bought it is betting $500 million, to the stock goes down. on may 18th, 2021, "varney and company" is about to begin.
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♪♪ stuart: that music is guaranteed to wake you up and it certainly woke me up right in my left ear. straight to cryptos. bitcoin and a dogecoin wiped out half $1 trillion worth of capital and now bank of america weighing in on the crypto marketplace. good morning to you. >> they manage half $1 trillion, a lot of money. one bitcoin is the most overcrowded in the world right now. it is in a bubble.
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bit coin prices won't fall from here. we've seen these peace and call it a bubble but bit coin prices have gone up. the latest in january of this year. a lot of experts say there is resistance, support for bit coin prices above 40,000, you have dogecoin at $0.50, not necessarily a huge selloff. stuart: no but it is not a return to the old highs. tell me about these musk impersonators, they stole millions. >> this is part of the giveaway scam where con artists and celebrities are known figures in the crypto world and promise to multiply the crypto currency they send but instead pocket the crypto currency system themselves. scammers pretending to be elon musk stealing $2 million in
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giveaway scams and people believe it because musk have a cult following, $50 million on twitter, big supporter of digital currency like bitcoin and dogecoin, digital coins for payment at some point. that tends to confuse the average investors, scams are real, looking at record levels of crypto fraud with record prices in bitcoin, crypto prices, 7000 people reported bogus investments, $80 million for the ftc. sales too good to be true. stuart: glad we got that backup again, the price is 40,$000, that is where we are to settle of that one. one more, susan. to these retailers, some big retailers, on home depot. >> it is 30% plus, that would go away, profits beat by 20% and the housing business, huge
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for home depot. online sales, and same-store sales surging 60%, walmart doing better, strong growth rate, jumped by a third and the us consumer is alive and healthy. stuart: that is what it tells me to. a very big gain for a future company, housing data this morning, the number of new homes with an annual rate of $1.6 million from march. building permit edged up to an annual rate of one.76 homes being built and that is up
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slightly. back to futures. not much price change in the big indicators, not much of it. i want to talk about something different. you got a way for people to get around president biden's proposed tax hikes. >> investors are looking at tax advantage investments. many people forget this but when a life insurance policy pays out a death investment that death benefit goes tax-free. the cash value as it grows if you structure the policy record, down the road completely tax-free.
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you are overlooking the best tools to grow money tax-free and pass money on, the benefits are tax-free but never seen anything like it. stuart: do you think the insurance companies in the insurance business will benefit from this. >> a huge demand for these products, life insurance and annuities, with metlife, those three will be the big winners, the biggest product developers, win big with potential increase in taxes. stuart: you like amazon. amazon is looking at buying mgm and that is complete with the james bond movie portfolio.
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make your case. >> the chart is not pretty over the last year. there is support at 2900, some resistance at 3500, stock is trading in the middle of that range. hold on. the stock is going higher from a valuation standpoint trading at 3.2 times forward sales. that is not overvalued. if you are looking for a long-term play, you mentioned the deal with mgm, amazon is looking for growth. if it is me, around these levels preparing for a breakout above $3,900. stuart: you are a brave man to buy a stock at $3,289 a share. we appreciate your presence and good information on life insurance policies. do you remember when the media
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and president biden predicted doom and gloom after texas lifted their mask mandate. watch this again. >> at least fairly inextricable decisions in texas. did you hear that? >> just like that. why would you want to wear masks? >> the last thing we need is neanderthal thinking good. stuart: the nfl thinking. guess what? texas just recorded its first day ever with the 0 covid fatalities in a single day. doctor marty mc harry will take on shortly. what is elon musk doing with crypto? i cannot figure it out. he is all over the place on this. we will bring you the latest. ♪♪
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...and using precautions in store. see what we're up to at xfinity.com/commitment stuart: that is eugene, oregon, early in the morning where it is 45 degrees. looks crisp. happening now treasury secretary yellen speaking at the secretary of congress global for him. very likely she will push for the global minimum corporate tax which in my opinion is an attack on america's economic sovereignty but that is just my opinion. she's addressing that right now. let's talk cryptos and elon musk. one minute musk is hot on
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bitcoin, then he doesn't like it. he dismisses dogecoin calling it hustle then promotes it. ray wong who normally covers big tech for us will dip his toes into crypto's waters this morning. can you explain to me exactly what elon musk is up to in cryptos? >> yes i can. what has been -- he has a libertarian bend and what he's looking for is to decentralize currency. like what he is looking for with decentralizing telecom or sparling core electrification in terms of electric production, this is the same thing. he is looking for a decentralized currency. bitcoin was the most used currency in terms of assets and reserve assets and what he wants with dogecoin is to take it to mars and have the ability to have global currency to be part of because that is where it will happen and the ability for him to go direct to the consumer with currencies and
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the car. stuart: this is $1 trillion market. here you've got people fooling around in it. do you approve this input from musk into the trillion dollar marketplace? >> i don't because he's playing with fire and manipulating were dogecoin is going, and his comments caused bitcoin to drop 30% or dogecoin to stay stable, it is creating a huge issue in general, given the fact it is not regulated he is allowed to do that but the challenge going forward, other currency emerge and keep the song, crypto currency against the us dollar, we have a situation where you have the reserve currency under
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attack, multiple sources, not just china but russia as well who want to take down the us dollar. it is a dangerous position to be in. there is a move to get to global crypto currency, it is just like older generations betting on gold, the same game going on in that asset class. stuart: you got it. we come to you for big tech but you are now looking at honeywell and maybe considering honeywell attack stock, not one of the big name tech stocks but attack stock nonetheless. watch the developments with honeywell. >> what i'm interested in is what they have done with their experiencing control system, their ability to bring data and what they are doing going forward in terms of being able to find a tech platform for industrials. if you look at what they have done they left the stock exchange and gone to the nasdaq, they are engaged in the
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most successful quantum computing capabilities, stock should be sitting at 250 is our guess in terms of where they are in their ability to do that plus there's the other business, they've done ppe, aerospace and really good in terms of energy exploration with solvents and chemicals required for the energy production. it is much more than that, no thermostats anymore, they sold that business and what we are seeing is the ability to bring massive amounts of data from machinery back to the digital world and that is where the opportunities live for honeywell. stuart: fascinating. i'm looking at the chart and that is a good-looking chart and you say it is going to 250 maybe. it is nice when you branch away from big tech and bring us news on other technology companies. honeywell is your stock of the day. thanks for joining us. how about this? lamborghini planning to debut a
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purely electric supercar. i'm not holding my breath but i'm intrigued as to when this thing will appear. >> are you going to buy one if we see it by 2030? that is what they are saying. stuart: can you imagine just a second, just a second. can you imagine, can you imagine a guy by this time into his early 80s climbing into a car that looks like that? old people have a problem getting out of sports cars because they are so low to the ground. >> now that you have explained it i completely get it. for those that can get into these expensive vehicles, by 2030 they say, you will be able to find a plug in hybrid of the entire lineup, suvs by 2024, arriving in two years,
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lamborghini is spending $1.8 billion to electrify those expensive cars and when you get that all electric lambeau the model will likely have four seats as i found strange because the most famous sports cars are only 2 seats and low to the ground. volkswagen owns lamborghini. you are laughing. morgan stanley says they will win the global electric market by 2035. stuart: i am just imagining a lamborghini with four doors, sounds like a lamborghini van. >> a minivan, really? who would buy that? stuart: not me. electric car, not part of the bitcoin high, they won't touch bitcoin with a 10 foot pole. >> they are pretty low to the ground as well. they don't plan on investing in crypto currency either with any
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of their cash, bitcoin is not sustainable solution in their words because of what we talked about with the huge electricity drain. those are the same environmental concerns raised by elon musk. they are not ruling out ever accepting crypto currency, but that is not the focus for the company at this point but won't say they have a huge cash pile to spend anyway. stuart: correct. this is another story for you. the famed michael mary, the man who is now betting against tesla. this is the guy who made a ton of money shorting during the financial crash, how much is he laying out to short tesla. >> it is not apples to apples, he's using options, against 800
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shares plus of tesla, they are options to short the stock, betting or fall from here, that comes to $34 million by the end of the first quarter according to this filing with the sec, not putting down $500 million but that the option he has to sure in tesla shares. you get that. he is probably one of the few investors to be shorting tesla but has a great track record, he's famous for the big sure calling prime mortgage prices before it happened in 2008 or that book by michael lewis. people don't have a good track record, david einhorn of greenlight capital lost his shirt to elon musk's company. there is so much momentum and you have are called following of $50 million for elon musk. stuart: look at futures, 7 or 8 minutes from "the opening bell". it is not a solid rebound. babe ruth's baseball card is about to hit the option block, could go for $5 million or
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more. our next guest says investors like sports memorabilia because they are and inflation hedge. ♪♪
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stuart: we have a modest gain in "the opening bell," best buy says they are not requiring facemasks for fully vaccinated customers unless mandated by state or local order. a long list of other retailers taking the same action. there is a baseball card collection going approximate could fetch $20 million, that's the whole collection is a babe ruth card could go for 5 million. greg smith is with us, this is a different subject for you but you are saying sports memorabilia, the market has been on fire because it is inflationproof. is that how we protect ourselves from inflation? sports cars? >> with inflation living investors are looking for hard assets to put their money particularly ones that are not
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correlated to the market and last week i saw something so amazing, a will chamberlain rookie jersey from 1959 complete an ipo. you heard what i said. it is an ipo, 1000 investors to pay 10,$000 per share, were able to buy this jersey for $1.3 million in those shares trade. i thought on this company, collectible.com doing ipos of sports memorabilia this is amazing. i was amazed to learn that wayne gretzky's card appreciated 250% as did michael jordan's car. investors coming to this market, collectible.com seems like a company that is democratizing assets, you can buy fractional ownership in cars and create a portfolio of
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this asset class without having to spend 6 or 7 figures. to le this, 30 seconds but you opened up a very interesting area of investment, some would say speculation. thanks for bringing it to our attention. look at that ipo from that jersey. 5 seconds or so to go. a modest gain, we start where we are starting, the trading has begun and we are up a little bit, 60 odd points. the s&p 500, a gain of 5 points, 4100 is what that index is, no change, it is up a 12:45%.
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let's get to those big 3 indicators, and walmart is on the upside, free-market, home depot and macy's after a strong performance up, now down. show me at&t and discovery. though was were up, at&t was taking discovery's media properties to create a new company, a new screamer. investors had second thoughts because at&t is down 5.7%, down one%, both of them losers. investors are not happy with what at&t did buying water in the first place.
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on the left-hand side of the screen, what is new for us. >> investors are disappointed by, buried in the details, cutting the dividend, that is a realization. the payout ratio in the low range of 40%, a lot of math to figure that out, it was shrouded in all the other details. they are taking on a lot more linear property, all the enthusiasm, linear was core cutting, cable subscribers in the next 3 years. it is great for the bottom line. stuart: it is bad for at&t, what have we got on big tech. >> bank of america's survey and demand for big tech looking at 3-year lows.
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they are not touching, they may be selling tech but they are buying the reopening, materials and industrials, covers half $1 trillion in investor portfolio and 70% said the global economy will grow faster than normal but so will inflation and the first interest rate increase they don't think will happen until january of 2023 despite the fact that inflation might be surging this year. stuart: let me have a look at kroger's, they are in the news this morning, up one%. what is the news? >> we call it whale watching, the biggest investors on the planet report their latest holdings and warren buffett has taken a stake in kroger's and adding to verizon steak as well but chevron and wells fargo, and third point capital
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selling, he added amazon steak and exited ali baba, david tepper, one of the biggest taxpayers in new jersey dissolving his steak inject dorsey's payment company, via come cvs goes with the content and to get energy, selling out of ali baba, don't buy ali baba with all those head wents in china. stuart: huge mammoth investors with a ton of money, when they tell the world what they invested in or not invested in that makes a difference to the stock price as we just saw. how about jpmorgan saying by the dipping mgm resorts, dropped 8% for the past 3 weeks, morgan has upgraded the stock, they are betting on the biggest recovery. stock is up 3% but speculation that amazon is looking to
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acquire parts of mgm, movers, james bond and all is what they are looking at. >> mgm has been on the selling block for a few years now owned by private equity and want to offload the assets. mgm held talks of apple, netflix as well but amazon is o that $170 million of the subscribers watched something on prime video the past year and amazon is spending $11 million of content, netflix spent $14 billion and it is understandable, the huge spending we see among streamers yesterday. stuart: all right, take a look at the dow winners. there are few. even though the dow is down 10 points, walmart is the big
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winner among the dow 30, it is up 3.5%, after very good, almost spectacular same-store sales results. the s&p 500 winners, walmart is part of that index so it is on that list and the nasdaq winners not headed by walmart, and and it is up one%. show it to me. it has turned negative. i thought it was up i was going to ask if the meme stock fever is back. >> it was 7% in the premarket this morning and flying by double digits, the mean stock traders back because you've seen amc trade higher in volume but also this time warner discovery deal finally
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announced, and unlikely to impact big-screen debut, you still get a blockbuster season which is encouraging for screen operators. stuart: now this, dave portnoy says if you unless can back a crypto currency then so can he. watch this. >> why? i don't know why. it could be upon the scheme. i like the word, that is where i want to go. stuart: oh boy. is this the start of another dogecoin? right before the pandemic hit. a riproaring economy but now our recovery is threatened. president biden keeps caving to the far left, don't know if that is good. larry kudlow will join me in a moment and he will agree with
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me. we will be back.
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stuart: that is office and that is seattle where the temperature early in the morning is 47 degrees, looks pretty, snowcapped peaks, the markets have been over for 12 minutes, the dow is up 38 points, the 10 year treasury yield, and it the price of gold
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is reacting to inflation, bitcoin, last time we checked, 43,$000 a coin. that is in the mid-60 price range, $66 a barrel, gasoline, $3.04 a gallon, national average. shortly president biden leaves the white house, heading to afford electric plant in michigan to deliver remarks later today, he will pump up electric cars and his green agenda. now this, larry kudlow's tax special i made the case that the left is threatening our economic recovery. role tape please. >> in 18 months we have come from a brilliant economy to neo-socialism in 18 months. i'm shaking my head, can't believe this is happening but i hate to say it but we should not ignore politics here. this kind of socialist
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jealousy, and that is becoming increasingly popular. it is backed up by the media and it is awful. >> you don't really comfortable with what i was preaching the virtues of capitalism. it is an enthusiastic response. >> -- and socialism is not as popular as you thing. capitalism versus socialism, socialism is usually by 60/40, something like that. and if they pass, don't know if
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it will pass. is increasingly not popular. that is not popular, and raising taxes on businesses, the -- us great questions, i don't think the usa, where europe was or is, i don't think so. >>, the extra amount, but cutting off unemployment benefits.
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republican states almost entirely republican, that is a political state at the state level, they are cutting off unemployment benefits, will grow and expand rapidly and lead the democrats states behind? >> they already are. they absolutely already are. the first test in this was republican states led the opening. the unemployment rates almost to estate are below the blue state unemployment that opened late. you will see the next step, less generous, state unemployment benefits are still there. you are talking the federal top off which is an extra $300 which when you have a husband
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and wife can amount to almost 90 or 100,$000 so it is a lot. i am just saying as the state legal way toward less generous benefits you will see them continue to outperform and already that is beginning. it is less than 20 states. they already stopped the federal plus side. making it real simple new york, florida, that is as much as you have to know. new york, florida and you see the gap. new york had just as bad if not worse covid fatalities, new york is still offering generous benefits, to illegal immigrants, a dreadful idea. florida is that we are performing it is unbelievable. that is the easy way to look at it. stuart: this afternoon on your show you have leon cooperman on
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the program with you this afternoon. i remember him from way back. i think he is a conservative and i think he really opposes elizabeth warren's vigorous -- is that what he is going to say this afternoon? >> i will let him speak for himself. leon cooperman is an old friend, very brilliant investor and a self-made man and i think that is so important and i think he does not agree with a lot of the giveaways and central planning and faxing of inheritance and things like that but mostly leon is coming on the show, very dear friends, to talk about stocks. let's have a good discussion of the stock market. is it slowing down? is it worried about inflation? is it worried about interest rates, is it worried about taxes? that is what we will talk about
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with leon cooperman. stuart: i tend to go more toward the politics and not so much towards the market but straighten us all out on the show. larry kudlow. good stuff. >> sometimes we double as a business show. stuart: why not? we have a great deal coming up for you and i will tell you what is on the show coming up very shortly. we will be back right after this. i have an idea for a trade. oh yeah, you going to place it? not until i'm sure. why don't you call td ameritrade for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila! maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪♪
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stuart: with the summer driving season approach we better look at oil, $66 a barrel, the average price of gasoline as of right now $3.04 a gallon which is indeed higher than it was a year ago. in terms of supply of gasoline in washington dc, 73% of gas stations are still without fuel. inappropriate moment to bring in gas buddy's patrick, are we going to see any kind of price increase or spike this summer? >> it is a possibility.
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as americans head to memorial day, expect a price break, an unusual summer, you can see the average peak in late spring this year because of covid and the overall recovery happening in the economy, we can see in july or august if there any major hurricanes. stuart: there is no chance going back to the level we saw 8 or 9 years ago in the middle of summer, $4.11, many years ago, no chance at all going back to that level? >> never say never, less than one%. americans could be rest assured we won't the see record high get prices this summer, borrowing a drastic event out of left field.
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stuart: can you tell me about demand, demand for gasoline, is it back anywhere near where it was at the end of 2019? >> what is going on with the colonial pipeline some of these numbers were fudged. we have been getting fairly close, single percentage points under pre-covid late spring levels, i expect we could get there close to norms that may not be all time but expect that gap to continue closing, early last monday or tuesday, saw demand sore but yesterday demand plummeted 23% in the prior week, a lot of that happening because most americans in the southeast are sitting on a full tank but as the summer progresses keep in mind a lot of americans are landlocked, foreign travel is still difficult. we could see a hot summer for gasoline demand, maybe not all the time and contingent on
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covid but there is the possibility of a 10 million barrel a day figure for gasoline consumption which would be a record at some point this summer. stuart: which would put prices up from where they are now. thanks for joining us, see you again soon. check the market please. we have been open for 25 minutes, dow is down, s&p is down, nasdaq up slightly, still ahead this program today, doctor marty mcharry, brian kilmeade, the unrest in the middle east intensifying but once again president biden's policies are being driven by the far left. my opinion on that next. ♪♪ possibilities ♪♪ ♪♪
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♪. stuart: well we've been playing a lot of rolling stones, a lot of beatles lately. i hope you like it. empire state building in new york city on a bright and sunny day. it is 10:00 eastern. straight to the money. look at this, mixed picture on the markets. no clear trend for stock prices. look at these, big three retailers. earlier they all came in with
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very solid earnings reports and all of them went straight up in terms of their stock prices that has been hedged back a little. walmart still up 3%. macy's up 1.3%, home depot with a very strong report on the downside now, losing just a couple of bucks right there on home depot. all right, bitcoin, we have to bring you up to date on the cryptos. $43,320 per coin. it is down again today. dogecoin, the latest we have is 48 cents per coin. and now this. yet again president biden is driven by the left-wing of his party. the democrats once in full support of israel are now waivering. confined to bomb shelters, attacked with thousands of rockets the people of israel cannot count on the full support of this administration. example? maybe small example but it is
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important. greg meeks. the chair of the house foreign relations committee. he wants to delay the delivery of $700 million worth of american weapons to israel. at a crucial time the new york democrat wants israel's defense on hold. other democrats like aoc, rashida tlaib deliver independent passioned anti-israel speeches on the floor of the house. the name-calling at the only democracy in the middle east, america's staunchest ally, the woke brigade sees israel as oppressor. they equate the palestinians with their own demands of social justice. they put hamas on a same moral plain. president trump was a strong supporter of israel the left has to go the other way. it is another reversal of successful trump policies. biden tries to reopen the nuke
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deal with iran and the immediate response is a rain of rockets courtesy of iran, another policy reversal mess. another result of increasing power of the left in the democrat party. last night israel continued its attacks on its terrorist enemy. despite president biden's calls for a cease-fire, netanyahu is not going to give hamas time to regroup and restock. which leaves our president stuck between the hate-filled left and republicans who want to see our ally survive and prosper. the second hour of "varney & company" continues. ♪. stuart: take a look at this headline. the world is becoming a dangerous place. who wrote that? scott shellady getting in print these days. we're used to him getting on tv
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doing political punditry. now he is in print. scott, we saw the headline. what worries you the most? >> what worries me the most the left is trying to convince everybody in the country leaders need to be liked. that is a big problem because i'm sure macarthur and patton were not the best guys to have a beer with but they knew how to win. the problem with the left they're trying to humanize our leaders to such an extent it is more important to be liked by everybody than for them to lead. we don't have a leader. the problem we got rid of one because people didn't like him. doesn't matter if you like him or not, if he wins, if he goes 31-3, you rather have that guy that goes 3-31 but he is a nice guy. that is the problem we have ahead of us. in february of 2020, we had the best economy ever. all time in the world. now we shut it down. everybody understands why. but now, you could go ask a
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group of second graders how we get the economy back. i think most would say open it back up again. listen to the rhetoric. we have a problem where we have never seen a 28 trillion-dollar economy get shut down and have to reopen. listen to the words coming out of the administration. job creation. wait, what? you're going to give me back the job you took away from me? is that creation? are you kidding me? that is the problem they think they are actually doing something and just do nothing, turn the lights back on and let the economy take off. stuart: but it's popular. if you are going to talk politics, you have to talk the popularity of giving, chucking around free money. the popularity of leaders who some people like. what is going to happen. it is quite possible the left will get its way because what it wants is popular with the people. will you address that?
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>> yeah, i mean that all good leaders have not paid attention to the short term opinion polls, flip-floppers where they change their mind whichever way the wind is blowing. that is a problem. you can't lead like that. at the end of the day a leader doesn't need to be liked. a leader needs to win. that is the bottom line, wins and losses f want someone wants to go with the populace, you can't please everybody all of the time. you will never get anything done. that is the problem. here's the best test, stuart. the best test after leader is where you know where he stands, she stands without ever having to ask them. could you say that about president biden right now? you have no idea where he stands. but, boy, oh, boy, you could say that about president trump right away. stuart: yeah, you could. fair point, scott shellady great to see you in print but don't
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desert us on television. shellady, you're all right. see you soon. we're taking a trip south on the dow. down 80 odd points. nasdaq holding on a very small gain. i do want to update everybody on at&t and discovery. my things really changed around. both stocks down. tell me the story, susan. susan: at&t down some 7% yesterday despite the fact you have that huge 150 billion-dollar tie-up, that euphoria at least initially in time warner discovery deal. at&t suffered their worst day in a month. that because investors did more digging into the details of the deal. despite at&t's assurances they will be cutting the dividend payout. which is a big attraction for a lot of investors in at&t's stock. citi calls it obviously disappointing. investors said it will take time for discovery to scale upstreaming in order to compete with netflix and disney. you have hbo max, hbo, discovery
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plus, 153 million subscribers. way more than the netflix 100 million and disney. i should note this headline crossed. "axios" that david zaslav will stay on as ceo until 2027. stuart: i don't know about stosz law, you're right, if the dividend is not secure down goes the scott. susan: the strategy calls into question. they paid $85 billion three years ago to buy time warner in the vert tick call integration. we know vert tick call integration doesn't work, you spent tens of millions defending it. surged the debt load on at&t. people were saying that was creeking at $160 billion.
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they needed to off-load time warner. stuart: can you give me a quick update on home depot? they had blowout earnings. it is down despite blowout earnings. tell me the story. susan: kind of strange. we saw home depot up 2, 3% in the premarket so it has really turned around. despite the 30% gains in same-store-sales. walmart up 4%. online sales jumping by a third here. stuart: thank you, susan. wait a minute. this is for you. bank of america weighing in on bitcoin. this is your territory, susan. what are they saying. >> increasingly yours too which i'm encouraged by, enthused. so in their survey of investors who manage half a trillion dollars, long about long bitcoie most overcrowded trade in the world. i don't think that is surprising to anybody. 3/4 of investors say bitcoin is in a bubble right now. that doesn't necessarily mean
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bitcoin prices will fall. we've seen peaks and bubbles. bitcoin prices have actually gone up after that, the last time being in january of this year. in the past hour the group that hacked the colonial pipeline, darkside, they just didn't get $75 million, $90 million in bitcoin before shutting down. stuart: i think that is bad publicity for the whole crypto market. i don't think that does them any good. susan, thank you very much indeed. dow is down 67. there is a new group. it is called, unsilenced majority. fed up with the woke mop taking them on. ian prior is participate of that group. he joins us now. you will give the woke people a dose of their own medicine. what are you going to do? >> look, stuart, thanks for having me here. america was founded in part on the right to does agree and what we're seeing across the country is people stand up for that i beliefs, they discuss what they think, they are getting canceled
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whether by corporations, whether it is by schools, whether it is by the government, they are being put under pressure. these are average everyday people that are speaking out on things that are important to them. if it doesn't fall in line with woke leftist agenda. they get canceled, they get fired and activists calling them whatever, horrible names. we are going to be the counter weight for that. we've seen too much from the other side where everybody gangs up on everyday people that are just trying to live their lives. unsilenceed majority.org, we are going to fight on their behalf. stuart: okay, what are you going to do? >> well, we're going to bring attention to it. when we see somebody being bullied, being canceled for expressing their beliefs, exercising their first amendment right, we'll find those cases, we are going to shine a light on people doing the canceling. stuart: wait a second, how do
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you shine the light? the media is against you. the media is all for cancellation, all for woke culture. what will you do to shine the light? >> this is a grassroots effort. the media is only so capable. the media depends on people watching shows or reading their publications. we have tens of thousands of lists of folks that are listening to what we say. so we're going to make sure they know about it, whether through earned media ourselves, whether through grassroots efforts, through paid efforts, we're going to find these people going out and these institutions going out and we're going to be the counterweight and we're not going to stop. if it going to put out press releases statements or any other kind of tactics that bring attention to the everyday folks struggling with this, we'll be on top of it. right now they have had nobody in their corner defending them. we have a group of powerful people and a group of powerful grassroots supporters behind us. we'll fill that organization around we'll be able to strike back, strike back harder than
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the people who want to cancel everyday individuals. stuart: ian prior, unsilenced majority, we appreciate you being with us. come again, too. remember the mainstream media's absolute as ton nichement when texas lifted their mask mandate two months ago. watch this. >> they're pulling all covid related rules, fairly inexplicable decisions in texas. >> what is your reaction to the governor's decision? >> it's mind-boggling given where we are. stuart: didn't the president call it neanderthal thinking? yes he did. recently texas reported zero covid deaths. dr. marty makary is here on that subject. governor of new york andrew cuomo took in five million bucks for his book on covid leadership, this as he was consigning covid positive patients back to nursing homes. kilmeade on that one.
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>> the last thing we need is neanderthal thinking in the meantime everything is fine, take off your mask, for get it. it still matters. stuart: i'm sure you remember that. the president bashing texas for removing their mask mandate, neanderthal thinking, et cetera, et cetera. but look on sunday texas reported zero covid deaths. dr. marty makary is with us now. looks to me, doctor, the states
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are opening up actually got it right. what say you? >> well there is a lot of good news right now all the way around and what the white house and cdc did not anticipate was that about half of those unvaccinated have natural immunity from prior infection that changes everything. that accelerates the downward slope of number of cases. they rushed out guidance with public demand last week about unvaccinated people taking off their masks. we're seeing good news. by the way, stuart, it is not just texas. a lot of other large states reported zero covid deaths yesterday, arizona, minnesota, massachusetts. a dozen states before this week getting down to zero. this is the first time we're seeing large states zero. death is a lagging indicator. stuart: we have what, roughly 50% of the adult population fully vaccinated i think we're close to that, are we? plus, another 20% who may have already had it so they're immune
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from getting it again, are we now at the point where the risk is way, way down and we've achieved what doctors call herd immunity? >> we have a high degree population immunity. we don't use the term herd immunity much in public because some confuse it with eradication. we cannot chase the goal of absolute risk reduction as some suggesting. people who want the pandemic to keep going. just to give you a sense of the distorted perception of risk, stu, we had 29,000 cases yesterday, most asymptomatic n a mild flu season we have 450,000 dale lay cases in the middle of that mild flu season. stuart: whoa. one more for you. california delaying lifting the mask order until mid-june that seems to go right against cdc guidance. what happened to california trusting the science, doctor? >> if you look, for example,
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what some of the unions are doing right now, they're protesting the mask guidance from the cdc last week even though that guidance should have come out sooner. the nurses union, who i think in my opinion don't represent nurses, they are protesting that guidance. some people want this thing to keep going. and it is there may be motives for that. what you are going to see cases will collapse quickly over the next several days and weeks. it is going to be laughable when somebody is still undergoing restrictions, the public will get upset at some point, the politicians will respond to an election concern. stuart: cases are going to collapse in coming days and weeks. we'll quote on that one, doctor, that is what we just love to hear. dr. makary, thanks for joining us. we appreciate you as always. >> thanks, stuart. stuart: on this program we often told but the exodus of people fleeing high-taxed states. well we've got a new report which shows states residents, which states residents, i should
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say, which states will pay the most taxes, residents of which states will pay most taxes over a lifetime. ashley, "time" trying hard to get this thing right. i want you to tell mee which states are at the top? ashley: all right, stu, the usual suspects. the numbers don't lie. the taxes on property, car income, retail spending over course of a average lifetime. the average american pays $525,000 in taxes over their life or 34% of their lifetime earnings they spend on taxes. you spend a lot more if you reside in a blue state. let's get right to it. according to the financial tech company, self, new jersey tops the list of $931,000 worth of taxes or 45.1% of your earnings gone to taxes. then there is massachusetts and connecticut coming in at number two and three.
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new york, you ask comes in at number 7, $734,000 worth of taxes, which is higher than connecticut. california, number eight on the list. but guess what? second highest percentage of taxes paid over your lifetime. close to 44%. the other end of the table, no, not texas or florida. tennessee. recorded the lowest lifetime taxes at 347,000, about 26 1/2% of earnings spent. new mexico and kentucky also finishing at the bottom. so what about texas and florida in i looked it up. texas came in 27th with 32% of your lifetime earnings going to taxes. florida even lower at 37th with an over all tax rate of 29%. but let us not forget, texas and florida have been so popular, not only because they are lower taxed but their economies have been wide open and they're promoting business and oh, by
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the way the schools are open as well. so it is not just taxes. there are other issues at play as well, why those two states in particular have done so well in this covid pandemic. stuart: not to mention the weather. that is another story too. ashley: that helps. stuart: it does. a pro-tax group protested outside of two of jeff bezos' homes. there was something unusual about the protesters. fill us in. ashley: yes, it was unusual because the group doing the protesting, millionaires. i say millionaires. the organization, patriotic millionaires of which stu is gone a round or two with in the past, they launched protest outside the homes of bezos in washington, d.c., and new york city. there you go. the groups says the world's richest man in the world, bezos benefits the most from an unequal tax code that only makes him richer. three billboards, one of which is on the screen have been
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launched against bezos and other billionaires, tesla ceo elon musk and facebook ceo mark zuckerberg. one of the billboards says tax the rich, save america. it is that simple. another features three business leaders, you see them laughing, the banner reads, tax me if you can. there you go. patriotic millionaires. stuart: they have been on the sheets many times and every time i have one of them on the show they refuse to answer two basic questions. number one, how much do you think is a fair share for the government to take of your income? they will never give you that percentage. and number two, i ask them why don't you write a check? you got the money. write a check if you don't think you're paying enough taxes. write a check, they never ever, do. ashley: never. stuart: getting tired of having a shouting match with those guys. there you go. ashley, good stuff, telling you. really good stuff. as obesity rates rise in america, can you believe some
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airlines are considering weighing passengers before flight. i'm not kidding. we will tell you about it. i think it is limely unlikely but we'll tell you about it. first one elementary school, it is teaching fourth graders that racism is deeply embedded in their community. civil rights activist bob woodson wants critical race theory out of our schools. he is here next. ♪ just over a year ago, i was drowning in credit card debt. sofi helped me pay off twenty-three thousand dollars
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stuart: wall street open for exactly one hour. no clear trend for stock prices although we've got a nice bounce for the nasdaq. big tech is doing okay. nasdaq is up 95 points but the dow is down 55. we've been telling you recently about a plan by facebook to build an instagram for kids under 13. now they're telling congress it will be, quote, many months before it decides on that feature. so that is still up in the air. no change in facebook's stock price.
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apple, planning to release a redesigned macbook with a 14-inch screen this summer. no response on the stock there. still at 126 per share. earlier we told you that janet yellen was speaking at the u.s. chamber of commerce' global forum. she talked about the push for the global minimum corporate tax. what did she say, susan? susan: yep. she is talking about the corporate taxes here in the u.s. saying that they are at historic lows at current 21% which was cut from 25, 35% in the trump administration, pardon me. it needs to be reformed. ie, read between the lines, she wants corporate taxes to go up to possibly 28%. president biden said in the past he is open up to maybe 25%. they need to raise money for the infrastructure plan. yellen says it will make up for loss time, investing in renewable energies. in the trillion dollar plan,
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only 6% goes to traditional infrastructure, roads, bridges, airports. she is making a hard sell right now. stuart: basically saying the corporate tax rate goes up but i'm not sure she yet addressed this global corporate minimum tax which i think is just giving away america's sovereignty, economic soverignty. when she gets to that, if she gets to that, i will be very interested to see what she has got to say. now this, a school district in new york state teaching fourth graders that racism is deeply embedded in their community. the nine-year-olds are being encouraged to take part in activism. this is all part of critical race theory, very much part of the school curriculum in many places today. bob woodson is a civil rights activist, he is the author of this new book. that title, red, white, and black, rescuing american history from revisionists and race hustlers. bob woodson is with us. that is quite a title, sir.
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spell out your point of view, just in the title of the book. do you want critical race theory removed entirely from our schools, and if so why? >> first of all i'm a veteran of the civil rights movement. in fact i long for the old-fashioned bigotry because it was honest and external. but this new progressive bigotry has morphed into a parasite has gone internal, it is really very divisive. it is really trying to cure racism by teaching racism. it is demeaning to blacks. it is insulting, demeaning. blacks are being treated if we're exotic pets and people have to be trained about how to treat us and it is going to end up alienating children. they are going to be differences. they're going to be fights. they're going to be conflicts. we're creating a problem that does not exist.
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but it is, even a boy scouts have diversity badges. it has national security implications where our military is told america is a racist country. who wants to defend a country that has been defined as racist? so this is a crisis that we're confronting at the woodson center with our new essay, 1776. we're telling the accurate history of america. stuart: what's the response to you what you're saying? you're explicit here. you're not hiding your light under a bushel so to speak. you're explicit getting rid of critical race theory. what is the response to you? >> the response of the american public has been overwhelming. we have issued 10 lessons so far in our 1776 curriculum, offering a more accurate and complete
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history of the country and not, we're not defined by our birth defect of slavery. we had 11,000 downloads in just a few weeks compared to 4500 all year by 1619. so we believe, in fact, amazon has sold out temporarily because there are americans really want accurate and complete history of our nation. america should never be defined by its birth defect of slavery and jim crow. we should be defined as a nation of redemption and so our essays, 28 essays by black scholars and activists tell the accurate story of american history, and our birthday is 1776, not 1619. stuart: got it. >> but this virus of -- go ahead. stuart: no, i've got to close.
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we wish you the very best of luck with this. i think this crt business is just a terrible thing to be teaching our young children. incredibly divisive. i don't like it. best of luck with the book, i'm sure. i know it is doing well already. mr. woodson, come back anytime you like, sir. appreciate it. >> thank you, sir. stuart: sure thing. i can hardly believe this but what's this, susan about some airlines weighing passengers before they get on board? susan: i think this has privacy discrimination calls all over it. but look, the obesity rate is going up in the u.s. and according to an advisory from the faa, on board safety might be at risk. so a new report says passengers and crew might be required to step on a scale at the airport or share how much they weigh before boarding a flight. voluntary they say, confidential, so the passenger declines to participate, they
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will ask another passenger at random. unlike you i am petrified of scales. i will not be going anywhere near this. you can imagine this is for smaller airlines with smaller planes. stuart: i can imagine that i have can't imagine passengers jumping on a scale. i can't see it. there you go. susan, thank you. next case a space force commander fired after speaking out against marxism and critical race theory in the military. rob smith will be here to react to that. first though, one business owner forced to close up shop because he can't find workers, even though he is offering a 401(k), health benefits and 12.50 an hour. that restaurant owner is here after this.
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♪. stuart: the standout indicator today is the nasdaq. it is up nearly 100 points. look at the level, 13,400. the dow though on the downside, 74 points lower. show me the vaccine makers, please. i have got this news. the director of the cdc says 600,000 children between the age of 12 to 15 got the covid jab last week. look at the stock price for pfizer, still below $40 a share. even though one of the leading vaccines on the planet. 39.90 for pfizer. next case, tedd's fish fly, an upstate new york restaurant chain forced to close all seven of its locations. the owner is william dieb and he joins us now. william, welcome tote program. i'm sorry to hear about your situation here, see if i got
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this right. you offer 12.50 an hour, offer 401(k)s, retirement plans and health benefits and you still can't find workers, that accurate? >> that's correct, stuart. thank you for having me by the way. it has been, business actually has been pretty well since covid hit. we took a little bit of a dip in the beginning but, you know, we eventually caught back on and hatch of our business has been take-out anyway. so we did pretty well surviving through covid. it is just in the recent few months that we've been really struggling staffing our stores. stuart: is this because people are making money from the government to stay at home, or is this people just don't want their old job back because they have changed their minds about where they want to work? >> i think there is a lot to the story. obviously paying people staying at home has been a benefit for a lot of people but it is also, you know, hurt people coming back to work.
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the employers themselves a little bit. but i think it is tough to just blame that as the issue. stuart: okay. i think we got the shot frozen there. i think we broken our communications unfortunately. we got him back? , have we got him back? is mr. dieb with us or not? he is not with us. i'm sorry about this william. i do apologize. we got a frozen frame shot there, but we'll get him back whenever we can. i want to move on to connecticut. they're offering a cash bonus to unemployed residents who find a job. how much is the bonus, ash? ashley: $1000. by the way those fish and chips look good. connecticut's democrat governor ned lamont the state will dole out one-time direct payments of $1000, to 10,000 long-term unemployed residents who find
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work by the end. year. the employment has to last eight weeks. unclear if the cash bonuses will come on first-come-first-serve basis or perhaps through a random drawing. but state republicans in connecticut criticizing the move with one lawmaker saying, quote, persuading people to give up one government benefit with promise of another is a little like a dog chasing its tail and i think he is probably right, stu. stuart: would i agree with that. thanks, ash. let's get a little bit more serious here, crime spiking in new york city. 50 people shot last week. slashings on the subway happen daily. how can big cities expect to recover in an environment like that? kilmeade coming up for you. from the ncaa to nfts, next hour we talk to an nba prospect who just launched his own non-fungible tone, nft group. i want to know if he is in the bitcoin craze too. he is on the show.
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♪. stuart: uh-oh, uh-oh, back with a "fox business alert." colonial shippers say the pipeline, that is the pipeline, the big pipeline, they say that the communication system is down. tell me what is going on, susan. susan: that is concerning. we came off the dark side hack of course that shut down the colonial pipeline for several days. we're only just getting back up and running there is concerns why the communication systems is down once again. is it another, cybersecurity concerns after what happened. also, the latest numbers here, stu, do you know that the dark side hackers got $90 billion in bitcoin? there were 75 bitcoins given in the ransom but looks like the dollar amount is 90 million what they made out with. stuart: 90 million bucks, x-number about of bitcoin, bad pr for bitcoin if you ask me. latest on bank of america. what did they do? susan: minimum hourly wage, $25 by the year 2025.
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they're requiring all of their vendors to pay $15 an hour. this comes just about a year after the increase to 20 bucks an hour. bank of america was already ahead of the curve. compare it to other banks, did quick research. jpmorgan is paying on average, 16.50 an hour. we're talking about $18 in high-cost cities. stuart: bank of america with a pay increase there. not bad. thanks, susan. it will come eventually. it is now 10:51. that means it is time for brian kilmeade who join us now. buy, new york's governor cuomo, gets five million dollars for his book. cue the outrage, brian what do you think about that? >> it is unbelievable. it is about pandemic leadership and anyone who doesn't live in new york other caught in the moment like robert de niro or anthony fauci, he did a terrible jobs. he held the press conferences he asked his own questions because the questions were so benign from the comply ant press.
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for example, why did you coming out with the statement in the beginning the whole pandemic, new york will never suffer the same fate of china because it has a great medical system. saying we don't do pandemics. it is up to the federal government. get everything you wanted, not use it, have 15,000 people in nursing homes die plus. write a book about leadership, who wrote him the check? crown publishing. what did they get from it, 50,000 books sold. what did they give him five million dollars of a signing bonus. what did he do? asked his staff to help him during business hours is the allegation. if that isn't unethical i don't know what is. how does he sleep at night? stuart: well i can't answer that question. he should have some difficulty sleeping. here is another one for you, how are we supposed to come back to new york city or other big cities in the country because i asked this question, new york city had 50 people shot last week, 50.
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eight dead. how do you expect to bring people back to new york city, open it up again with crime spiking like that, brian? >> absolutely. this mayor who took a billion dollars out of the police budget, got rid of the anticrime unit, anti-homeless unit, no one is keeping track who the homeless are, where they can go and where they should go. he got rid of all of that. delays an academy, two academies. when it comes to recruiting police back, stuart, they can't fill up the academy. they have, making all the offers no one is taking them up especially when it comes to transit. those are the ones in the subway system. they say there is more presence but they're not there. they will run them 24 hours a day. good luck with that. stay on the street, tough enough. do not go down in the subway. starts with law and order. that is what the people of portland, what is what the people of seattle understand but that is what the politicians don't. tell you watching us around the country, around the world, new york does not deserve the
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tourist dollars. they have not secured the city liketh capable of doing. they have not invested in law enforcement. they diminished law enforcement. i talk to these men and women regularly. i go through penn station every day. they will not travel by themselves because they're in pairs. this mayor, this governor, put a target on their back because they never support the law enforcement. these people feel they get away with anything. i'm not talking about the good people. i am talking about the ones that want to create havoc. they have been brought under control by ray kelly. they have been led under control from this current administration who do not back the men in blue and women in blue. stuart: going to be a tough summer in new york city, if you ask me. i think they're staffing up for some serious rioting. i think that is what they're doing. brian, thanks for joining us. see you again real soon. >> no doubt about it. go get em. stuart: i will try i'm telling you. dow industrials now on the
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downside. we got a split market here. we have the dow down 45, we have the nasdaq up about 90 points. no real clear trend for stock price this is tuesday morning. look at the big three, or three of the big retailers, walmart, macy's, home depot. all of them reported very strong earnings this morning. walmart holding on to a 2% gain. home depot though slipping on the downside to a half percentage point. macy's department store very solid earnings report and the stock is now up. bitcoin, $42,830 per coin. the news though is dogecoin. right now we've got a quote of, 47 cents on doge. how about that? big hour still to come. ric grenell, rob smith, mike murphy and others. plus oh, what a difference 18 months make. we had a terrific economy. now our recovery is under threat from the left. that's coming up in "my take"
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>> listen to the words coming out of the administration, job creation. what? you are going to give me back the job you took away from me. is that creation? >> as states lead the way toward less generous benefits you will see them continue to perform, new york, florida as much as you have, new york, florida and see the gap. >> a situation where you have the reserve currency under attack with multiple sources, not just elon musk but also china and russia as well to take down the us dollar. >> what lies ahead is americans get ready to head for memorial day, the possibility we could see a 10 million barrel a day figure for gasoline consumption which would be a record at some point this summer. ♪♪
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stuart: 11:00 eastern time. this is tuesday, may 18th. straight to the markets. the dow is down 70 odd points. a nice gain for the nasdaq up 87. up to date with the cryptos. bitcoin at 42-9, doge at $0.47. that is your cryptos. now this. oh what a difference 18 months makes. right before the pandemic hit we had a terrific economy. trump tax cuts and deregulation. now our economic recovery is there and by president biden's lurch to the left, complete reversal of the policies that gave us growth and prosperity. it is amazing. in 18 months we have done a 180. what happened? the far left has jumped into
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pressure a week, unfocused president. they call the shots. the socialists have the support of the media, make a lot of noise and they have one chance to transform america before they is next year. that is why they demand massive tax increases on businesses and the rich. that is why they demand the transformative green new deal. that is why they won't do anything about the border because they want to keep it open. that is why they are not keen on removing the mask mandate because they want to keep us under control, anxious and afraid. all of this is a real threat to our economy. the socialists won't tell you we started a massive experiment throwing trillions of dollars into an already expanding economy totally ignoring inflation. they are seizing wealth, ignoring the impact on growth and innovation insisting our schoolchildren become political activists. all of this is happening because as we often said the
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left runs this administration. it suggests real economic trouble to come. if they get half of what they want trump's successful economy will indeed be transformed. inflation is already rising, so mortgage rates, interest rates are going to go up. energy prices are already rising with more to come. your 401(k) will not do very well in a neo-socialist economy. 18 months ago this was unthinkable. now it is not. the third hour of "varney and company" roles on. ibly1force commander has been fired after he spoke out against marxism and critical race theory. watch this. >> i will not tolerate any discrimination of any kind.
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there were videos being sent to every basic service member we were asked to watch in which we were to the country with evil, it was founded in 1619 and not 1776 and whites are inherently evil. stuart: good to have rob smith with us. he is indeed with us right now. should critical race theory have any place in our military? >> not at all. as a combat veteran with two towards middle east under my belt i will tell you what the military's not here to do. it is not here to respect your pronouns. it is not here to get woke. it is not here to teach critical race theory, not here to reflect the whims of the society at large. it is here to protect america from enemies. that is what the military is here for. these things have no place in the united states military. when we see stuff like this, the u.s. army has this new
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campaign where there's a cartoon where she's going into the military. all of this stuff i am telling you our enemies look at us and laugh at us when they see this stuff. we need to get the military back on track soon and when you listen to the story of this lieutenant colonel the thing that is scary is this has been going on for quite some time. this is in some new thing that has pens with the incoming biden administration. it has been going on for years. stuart: how do you get it out? you want to remove critical race theory from the military, i'm in full agreement but it is there. how do you root it out? it will be a hard job. >> it will be a hard job. the first step is heroes like this lieutenant colonel who are actually speaking out about this. we always say, battling cancel culture, all that stuff, sunlight is the best disinfectant. if this person did not come out and say this is what is going
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on we may not have ever known. there are a lot of soldiers on the ground that have to stand down and put their heads down when it comes to this but it took somebody at this level to shine a light on this and say this is what is going on so that's the first step to rooting this out. stuart: earlier this morning we had a conservative group on the show, and silent majority launching an anti-cancel culture advocacy organization entitled and silenced majority. is this the way, they are going to do advertisements all over the place, defend people who have been canceled. is this the way to counter the welcome bob? >> this is the way to counter the woke model. i wish you came a decade ago but this is what you do. you have to understand
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conservatives are always being reactionary. we have to play offense. there have to be groups like this to fight cancel culture, they have to be groups like turning point usa which i am a contributor to, fight the left and fight cancel culture on college campuses so conservatives and people that have conservative leaning values need to start offense against this stuff because we are restarting a deficit because the left has been going at this for so long. we need this group you are speaking of, 10, 20, 50, 100 like them. for every group like this i'm telling you fighting this battle on the conservative side there are 100 more that are fighting the same battle on the left and you know what? they have hollywood, they have journalists, they have the media, they have celebrity, entertainment, they have all that stuff, the only thing conservatives have is the truth and we need to play offense a lot more. stuart: what is your standing in the black community if i can ask a question like that? does your community say to you
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bearing in mind your position on critical race theory? >> when i am debating other tv black liberals that are authors and educators they have to be against this but when i talk to people on the streets at a speaking engagement, planes and trains, stuff like that all the time, the people on the ground understand it. people who don't have a vested financial interest in pushing things like critical race theory and pushing the multibillion-dollar race hustling industry they understand this. it is only the people that have a financial vested interest in pushing this stuff that are for it. the average african-american on the ground, completely took down the race theory in loudoun county, virginia, she represents so many people
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making this move and fighting against us. >> they are the on silent majority. great to have you on the show. come back soon. rob smith, see you soon. dow is down, nasdaq is up 92 fractional gain for the s&p. good time to bring in mike murphy, we are not going to talk stocks related to cryptos. coin base, you think it is overvalued? >> i do. the important thing to look at is direct listing a month ago got up to $100 billion valuation and the stock was up $130 a share. it has come down, 240, 250, people at home watching your program might be thinking it
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has come down almost 200 points. it must to be a great by. people have to step back and realize at this price it is still a $50 billion company. coin base, a year ago was 8 billion, maybe $10 billion valuation. has gone up 5 times since then? i don't know. just because the stock price has come down, not necessarily a deal yet at these prices. stuart: you've been on the program close to 10 years and often told us to buy the dip especially in big tech. you have a dip in the cryptos, doge at $0.47 and 43,000, that is a dip, would you buy the crypto dip? >> i would have bet big against
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stuart varney, but here we are. if you want to talk about buying apple on a dip, we can take 3 hours of the show and talk about what apple does and why i believe apple has a lot more upside as a stock so i would buy pull back but if you want to ask about bitcoin that has gone from 60,000 to 32,000, i can't make a good case for it, some people can, they own it, i've never owned it. i haven't been part of the big move up but dogcoin, they should realize their speculating, trading on the whims of tweets from certain people on whether it moves up or down so they have to be careful. i consider it more gambling than investing. stuart: on that word we end it. thank you for being here, see you again soon. check the markets again, we are
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in the same position, dow is down, nasdaq, look at apple, what is the latest? >> new devices, the colorful imacs going on sale with the new ipad pro and 4 k apple tv in stores, what is old is new once again, apple macs, big sellers start off this year, remote work and schooling for ipads, in 2021 they are coming with hot new colors, it also comes with apple's own chip, the m1 which is getting rave revues for increased speed, it has dragged, apple on the world's biggest chipproducers with their own devices and boomer reporting this morning the new next-generation macbook
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pro will be coming out along with the chip as well. think of apple, the largest company on the planet, it does it all. stuart: 1-stop computing. a basketball player becomes the first college athlete to release his own nft card, i want to know how much he made off of that deal coming up. what is the latest threat to national security? the army says it is climate change. rick grenell is here to react to that. portnoy betting big on the new crypto currency. we will tell you what it is. the third hour of varney just getting started. ♪♪ ♪♪ in business, it's never just another day.
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at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds. is real launched a flurry of airstrikes on gaza just is president biden called for a cease-fire. rick grenell, former acting director of national intelligence. i have a question. why should netanyahu hold back now and cease-fire, why do that? >> i'm not claiming he should do that, people that are are not gaming this outer
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understanding what is going on. we have a problem with the biden administration falling to the progressive far left woke culture permeating into foreign policy issues whether it is climate change where they are asking americans to pay other countries to do their part worthy squad getting their way when it comes to being anti-israel and pro-hamas. this is a danger when we allow the progressive left woke to take over a foreign policy. stuart: i don't know if you saw this article. it is an op-ed in the new york times written by brett stevens and the title is if the left got its wish for israel and brett stevens points out if the left did get their wish it would be a disaster for israel. i am astonished to see that in the new york times of all places and very much in agreement with it.
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are you? >> brett stevens writes incredibly well and does something very good which is he gives this vision for the end game, if you read that piece he does a good job of saying let's let the progressive left go with their current policy. where does that end up? he gives you a vision of all the problems that we face and it is worth a read. it is very troubling to think where this ends. how hamas takes over. let's remember the palestinian authority has not had an election since 2005. abbas is in his fifteenth year of his 5-year term which is a real problem but when they do have elections hamas will win. they will take over the entire
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region and that is a huge problem not only for israel, not only for the palestinian people but for america and all of our allies in the region. stuart: democrats used to be in full throttle support for israel but not now. they seem to be tepid at best for their support. what do you say? >> the started several years ago at the democratic convention when barack obama was still president. they were attacking the idea of having jerusalem be recognized as israel's capital. there were booze whenever pro-israeli voices spoke at the democratic convention. this is 6 or 8 years ago so we have seen it little by little and frankly there haven't been enough strong voices in the democratic party to stop it. it has gotten worse, look at the squad now. nancy pelosi is afraid of the
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squad and their power so these voices, pro-hamas voices and anti-israel voices are allowed to speak from the floor of congress a lot and very few people standing up to them and the white house doesn't know what to do. we see from jen psaki and president biden, they let the democratic party fight this out, to push back on the squad. >> >> back to the markets. a rally for the nasdaq 100 points. and >> macy's is up, in the first quarter. and hair care and gourmet food,
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tesla is underperforming the rest of big tech with michael buying 800 put options in shorting $500 million worth of stock. the bounce now. to short tesla and elon musk behind the green light, who lost a lot of shirts. at&t discovery down after the initial bullishness. at&t was down 7%, worst performer today on the s&p 500. investors did their math and at&t is cutting their dividend. a big deal for at&t investors, the fourth highest s&p 500 dividend payout 6%. $160 billion on the balance sheet, one of the highest nonfinancial debt loads on the planet and they needed to unload time warner.
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stuart: i bought at&t some years ago, it was paying me 6% or 7% dividend. i don't see the prospects. more to the point can't afford it. gavin newsom, the budget surplus was $76 billion. was it really 76 billion. >> 76 billion as gavin newsom posted last week. the difference is based on payout to community colleges and debt payments. and faces a recall election,
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and to presidents, we will wait and see if california can actually afford it. stuart: president biden is about to touch down in detroit, heading to a ford electric vehicle plant. will he comment on the chip shortage? we will find out. half $1 trillion wipes from the crypto market, still optimistic about it.m and dogecoin. the optimistic crypto lady will be coming up. ♪♪ ♪ ♪ we made usaa insurance for veterans like martin.
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stuart: you are looking at chicago, 62 degrees, not very windy today. no change from what we told you a few minutes ago, next picture, the dow is down 60 points.
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look at the airlines, the european union is expected to let vaccinated americans travel to europe without having to quarantine or take a covid test. the europeans let us in vaccinated people. dave portnoy betting big on a new crypto currency. which one is he pumping up? ashley: he bought 40,$000 worth of safe move in a twitter posting, portnoy said he made the investment because he wanted to diversify his portfolio away from bitcoin. elon musk has been pulling levers and causing the price to change. watch this. >> already purchased 40,$000 of a coin i will declare my allegiance to.
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>> portnoy is in that business and vice versa. i don't know why. upon the scheme, i like the word because that is where i want to go. stuart: exactly. background in animation, he decided to choose that, he liked it because that is where he wants to go. it works by issuing a fee on transactions at a fraction of this is redistributed to all existing safe moon investors. it was worth.000051 of one send. it got a nice boost since portnoy got involved. stuart: it could double very easily.
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stuart: and a theory him, what is the confusion? >> the story of ethan allen, they share a ticker symbol. they occupy very different spaces in the investment world but it is causing trade confusion. shares of ethan allen 50%, over the past year. and quadrupled in value to $3,000, 3392 to be exact. as proof, for him dedicated to ethan allen contains numerous messages to the crypto currency instead of the furniture sell, even ellen to give it some processing, the revenue growth of 18% very respectable but if ever there was a case for due diligence, this is it.
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>> you cannot make this up. bitcoin and dogecoin knocked it off of the crypto market. nikki is back with us, made money is an early investor in bitcoin, a previous guest on this program. let's start with bitcoin, it is down 43,$000 a coin. are you buying the dip in bitcoin. >> thanks for having me. i'm not buying bitcoin. i'm diversifying my portfolio and if serial. stuart: why are you buying it? >> it is almost like silver and you can see bitcoin like gold.
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it has a real life application to it so you can build smart contracts off of it. the potential for the future is great. you can make something, where itcoin is just a store of value. stuart: i understand you like dogecoin which is a joke. it started as a joke. how can you like it. are you putting money into a joke? >> i would say sometimes things, turn to someone more serious and what i see, it is a mean currency. with elon musk, it can turn to something so much more. stuart: how do you spend your day. i'm getting a picture of a young investor, retail investor, how do you spend your
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day, what are you looking at? >> i wake up in the morning and look at twitter to see what is going on in the crypto world. a lot of influencers to get content from and look at their market data. i look at data from venture capital, they talk about bitcoin and their trajectory and i see a lot of blogging, investing in crypto, also have a 9-to-5 job. >> do you buy and sell aggressively frequently. >> i try not to because of the short-term capital gains implication. i'm trying to invest for the long-term. stuart: are you investing thousands of dollars? tens of thousands, hundreds of thousands? will you tell us? hundreds of thousands of dollars? >> yes.
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stuart: is it thousands? >> yes, thousands. stuart: tens of thousands? >> yes, tens of thousands. stuart: you are a brave lady. is a gambling to some degree? >> it is definitely gambling, there is a huge, and crypto takes off by the end of the year, and it does liquidate a good chunk of crypto. stuart: don't wait until do long. and and and thank you for that, come back soon.
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so really approve of here. and -- and 13 or 17-year-olds, investing with the firm. and us stocks, fidelity mutual funds, the aim was to develop lifelong specters, there always was a surgeon younger investors. and that was more than triple the number of new accounts from the same demographic just a year earlier. they are involved in the stock market.
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interesting stuff, glad you approve. stuart: it is a way of limiting spending power but it is in the gambling fit. if they get a debit card, i'm going to be really annoyed. and it could shatter records on the auction block, how much you could sell for, we are talking millions here? back in a moment. ♪♪ ♪ you've got the looks ♪
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stuart: made in america, president biden pushing to buy americans, electric vehicle plant. grady trimble is that a different manufacturing plant where they say biden's economic policies could hurt them. >> higher taxes, higher minimum wage, businesses do don't exactly see that is a recipe for success, we are at power test in sussex, ceo is out here, these proposals impact -- >> less money for us to invest in the business, to take care of nonprofits they generally support. and that is the ideal situation. >> reporter: to pay for the
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infrastructure plan, to benefit from a traditional infrastructure and that kind of thing, that is where you draw the line. >> increased cost for everybody including the products. that causes rapid inflation and a 0-sum game. >> another thing they are dealing with, all over wisconsin, that is very prominent here and get past that in the immediate future. stuart: the taxes come down the pike, can't get people to go to work, see you again real soon. i have a story on lamborghini, planning to launch a fully electric lamborghini or lambeau as people call it. am i going to live to see the
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electric lambeau? ashley: no reason why not. is there anything left that is sacred? we fully electric lamborghini? why? the italian luxury sports car is owned by germany and volkswagen, maybe that is it, in the next 10 years lamborghini will transition to producing hybrid models forasmuch as a fully electric car in the latter half of the 2020s. and behind rival ferrari, and the electric vehicle, just four years from now. it is all electric all the time. it appears. >> they are so low to the ground you can get in.
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and let's get serious, colonial shippers, colonial says, quote, it is aware of the issue working towards resolution, one more item on this, and they got $90 million, in bitcoin, that is bit -- and your member this, new york city's mayor, with shake shack, >> just think of vaccination. vaccination. >> the blog you came up with a new incentive.
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and luca gaza about to be drafted in the nba. will he invest his salary in cryptos? good question, luca gaza on the show next. cell phone repair. did you know liberty mutual customizes your car insurance so you only pay for what you need? 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. ♪ ♪ na na na na ♪ na na na na...
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stuart: that is new orleans. you can see the superdome and the smoothie king center where the pelicans play, cloudy, 73 degrees. the nba draft set for the end of july, college basketball star expected to be a first round pick, joins me now. come on in. we are not talking basketball but the nft you just sold for 40,$000 and the nft company you launched with 5 cards. is that how college sports guys make money? >> it is the future.
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with nfts, to start being able to modify that. in the future, that capacity, college students can create a new revenue stream without taking money from the ncaa. contracts and things like that find a different way. stuart: are you into crypto currency's? >> definitely. in his theory in the prices have been going up and really high. the way to do that, was coming up tomorrow at 3:00 pm. stuart: do you worry about the risk here, cryptos are volatile up and down all over the place
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and subject to speculation and rumor and personalities, did you worry about the risk you were taking? >> there is no real risk for me trying new things. if it doesn't go well it doesn't go well. trying different ways to push my brand going forward now that i'm on my side and being able to sell nfts, being able to take it out, or it needs to stay in their because crypto currency will continue to increase i will do that but i don't feel like i'm taking many risky decisions right now and don't have the capital to be doing that. stuart: okay, fair point. when you get picked up by nba team will you consider taking your salary into crypto currency?
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>> a good question. i have never been asked that before. it is fortunate to be done in crypto currency. i am not sure i could do all of it at this point but i think there are things that need to be fixed but that is the same with everything. in the future it is an easier way of doing things. i like the idea. stuart: last one. dogecoin started as a joke. would you get into dogecoin? >> i thought about it but didn't do it. i would have now. the way things happen, dave portnoy partnered yesterday, moon coin or something like that was up 25%. it is funny how these things
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work but those are the ones that are more risky because you don't know how they will be done. stuart: we have a very hard time following what is going on but appreciate you being with us because clearly you are doing well. luca gaza, best of luck with the draw and see you soon and best of luck with your cryptos too. thanks very much indeed. new york city using nba playoff tickets as incentive to get people vaccinated. there he is, mayor bill deblasio wearing a brooklyn nets jersey, he ditched the casual clothes as soon as the news conference ended, back into his suit and tie, that is the mayor of new york, very tall by the way. dow industrials down to the tune of 70 points, the nasdaq is up to the tune of 54. the retailers reported strong results this morning, walmart up 2.3%, macy's, the department
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store, up 6%, home depot despite good earnings down half of one%. tuesday trivia time. what is the most widely consumed beverage in the world? coffee, milk, tea or beer? the answer when we come back. i order my groceries online now. shingles doesn't care. i keep my social distance. shingles doesn't care. i stay within my family bubble. shingles doesn't care. because if you've had chicken pox, . . so what can protect you against shingles? shingrix protects.
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now you can protect yourself from shingles with a vaccine proven to be over 90% effective. shingrix is a vaccine used to prevent shingles in adults 50 years and older. shingrix does not protect everyone and is not for those with severe allergic reactions to its ingredients or to a previous dose. an increased risk of guillain-barré syndrome was observed after vaccination with shingrix. the most common side effects are pain, redness, and swelling at the injection site, muscle pain, tiredness, headache, shivering, fever, and upset stomach. talk to your pharmacist or doctor about protecting yourself with shingrix. shingles doesn't care. but we do. umed bumedume heumld w,,osett
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tea.s? i go tt tig.ig tixt bil b cupsup tu ch and a a aay.. checchketskets beforeef erer he. we've got the dow down about 80. nasdaq is up 50. s&p ever so slightly lower. i have a mixed market this tuesday morning as we head towards 12 noon. jackie deangelis in for neil cavuto today. jackie: welcome to "coast to coast." i'm jackie deangelis in for neil can scutto today. biden is looking for the government to go bigger. critics hint they can do that but we'll go broke. talk about timing, drivers still dealing with gas

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