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doesn't use a teleprompter. any ad-libbed and scattered words could move the market. the big financial actions this morning no question about it is in cryptos. look at bitcoin, it has dropped below the 30,$000 level. it is a negative if it stays below 30,000. bitcoin is way less than half of its value of 2 months ago, all the cryptos are down again today. ethereum moving below $2,000. no tweets from musk or any celebrity that i know of so far. that is the financial story of the day, the sharp decline in cryptos. as we get back to work, burnout is surfacing. it is more adjustments to the new work environment, bumble, the dating website where women make the first move is giving all employees a week off because of burnout. the stock is hardly reacting. home buyers and home sellers, in one hour getting the latest

numbers on existing home sellers, we expect may sales to be below the level we saw in april because there are so few homes for sale. you might call this the bitcoin initiative of "varney and company," june 20 second 2021. ♪♪ stuart: rolling stones, the crypto addition of "varney and company," we have bitcoin at 298. and susan lee joins me this morning. what is your analysis.

>> it is kicking up a technical this morning, we are on our way to 20,000 if you listen to the crypto lender, that is the consensus, we get lower, 20,000 level. not just bitcoin, dogecoin trading at $0.16 trading off very quickly, two factors at play trying to crack down on this is one province. i didn't know china allowed the money because some estimates say 50% of the world global crypto money is done despite cracking down in 2017. don't know how they went below the radar for regulation but there is lowered expectation for stimulus so you see crypto come off as well. the digital gold, hedge against

any inflation, less money being spent, less need for crypto. stuart: the crypto selloff is the financial story of the morning. >> when is it not? >> under 30,000, 64,000. >> you saw the boom/bust, got heated last year. stuart: i want more on this, luke lloyd joins me now with your bitcoin investor or stock investor but at what price would you buy bitcoin? >> it won't be struggle free until it is worth $1 million or $0. what you are seeing in china is the beginning of the regulatory head wind, bitcoin is the biggest threat to all currencies and governments around the world don't like it. when it comes to the new asset

class you want to own the big dogs, bitcoin and ethereum, there have been billions around the infrastructure, those cryptos will be harder to kick to the side the dogecoin could be wiped out tomorrow, it is down 70% from its high. it is here to stay but many crypto currencies are not here to stay. i've been pounding my hand on the table for four months looking to pick bitcoin up. who is laughing now? stuart: just got back to 30. >> i own bitcoin, sold it, with the conviction. stuart: we hear you. i read your stuff and you say

we are saving 20% of our income. never heard -- where did you get that number? >> from all the reports and research we pay for, 20% of people are saving that money, that was closer to 5% of them, people have 4 times the amount of money to spend as the economy reopens. having a few beers without covid restrictions you can generally tell people are happier and less stressed than they are. when people are happier and less stressed people spend more money. that means the economy will reflect that. the demand is insane, the past year and a half had a huge impact on a lot of people, humans aren't meant to be locked up in restricted, people will continue to spend more money. does inflation kill the spending spree in 2022. stuart: you think bitcoin will

go down to 24,$000 that which point you will buy, saving 20% of income, lots of money available for purchase of stocks and stocks will go up. nicely synthesized, not bad at all. i will show you the yields on the 10 year treasury, one.51% the latest count. susan, i don't see it going up that much. it is not inflation scale. >> we will hear from jerome powell, transitory inflation meaning temporary spike in higher prices and reopening and recovering economy but depending how you look at it is an indicator in terms of how the us economy is recovering, as an inflation indicator, depends how you view it. stuart: sometimes it is an inflation indicator and sometimes a huge trench of money that can come in and go out of bonds and stocks, that

is what you are getting. >> usually there is a tandem move, less need to hold insurance with government bond. stuart: yield on the 10 year treasury up a little bit, stocks up a little bit, bitcoin and cryptos down a lot. show meters low, they will be hosting an artificial intelligence day to unveil a new supercomputer. >> tesla claims there supercomputer is the most powerful in the world, with anything that comes out of tesla or elon musk, the supercomputer is not a disk. it is reality. it is used to power the self driving and autopilot features by trying to compute the vast

amount of data. elon musk tweeting to the looking at holding their ai day in a month or so, tesla is going into different directions and every other automaker, they will depend on cameras and sensors where gm already apple car feature will rely on radar and laser mapping system. stuart: does that make the supercomputer more important? >> a great bet in how elon musk's future compares to anyone else. >> did you just throw shade on elon musk? >> you learned that term recently. i am just tempering my expectations with every elon musk tweet and statement. stuart: stuart: diplomatic susan. cipollini is giving away a tesla.

>> only if you win their new video game, glock and beans, chipotle is creating a racing videogame in the winter gets a tesla model 3. they are trying to get more sign ups for their loyalty program and loyalty is important to keep customers, the videogame will go live for 48 hours, 23 million customers, that is the reason the stock has rallied. mcdonald's launching a loyalty program for the first time. i saw this headline. stuart: that is important. >> that the importance of loyalty programs, coming back in. stuart: i know all about that from the airlines.

crime skyrocketing in new york city and elsewhere. one msnbc contributor argues it is not because of the defund the police movement. here's who she says is to blame. role it. >> rising crime is not the fault of the movement. it is the fault of the police. why should we keep funding systems and institutions that keep rendering themselves ineffective? stuart: crime is the police's fault. today is the democrat mayoral primary in new york city. the republicans don't count in this city. whoever wins today will win the race and be the next mayor of new york. brian kilmeade, ace new yorker, joined me in the next hour, parents in randolph township, new jersey take on can sell culture and win. we've got the story. check out the futures, we are looking up for the dow industrials but the big story is the downside move for bitcoin. we will be back.

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stuart: we started the show with the rolling stones, you are looking at the statue of liberty, 75 degrees. looking at futures, the dow up 30, s&p up 2, nasdaq up 6, not much of a gain, very limited gains on wall street.

david nicholas joins us. do you think the fed is preparing for quick rate hike anytime soon? >> emphatically yes. we should expect the federal hike rates faster and earlier than expected. it is an 18 member committee. we were two votes from pulling rate hikes into 2022, that's two votes, not an overwhelming defense for keeping rates lower and longer. if you look at the sentiment, the sentiment was all about tapering, when will we hydrate? buller came out and said we should be ready for an upside risk to inflation. the market says inflation will be temporary, this will go away and things get back to normal but the government will screw things up, we do it with another stimulus bill. we get a $2 trillion

infrastructure bill, that could make temporary inflation permanent, in 2022. stuart: you wouldn't be jumping into stocks at the moment. >> overall. stuart: look, we are asking the question where do you stand on the stock market? if you think the fed is raising rates earlier than most people think you will put a lid on the upside movement to the stock market, that is where you are coming from. >> i will be clear, 2021 the risk is off the table. that bodes well for tech and equity. let's not have this 2023 stock. the market is not pricing that in. stuart: doesn't make a difference to you that bitcoin dropped below 30,$000 a coin?

>> this is a geopolitical issue. it does not want to have control over currency that they can't manipulate. i still think bitcoin is a great hedge for inflation but we have to be careful, i don't think downside selling is over yet. stuart: thank you for joining us, left-hand side, bitcoin is 29,$600 a coin, ethereum is at 1700. thanks for joining us, see you later. steven spielberg decided to sign a deal with netflix. my question is does this mean he is done directing major-league movies? >> he was still direct but the deal doesn't include any movies directed by steven spielberg, he has west side story coming out on the big screen this year so this deal is interesting, we have ample and partners whose home will stay at comcast,

multiple movies streaming on netflix, the co-ceo is chasing steven spielberg, it is a fierce competition for talent, $10 billion for the mgm studios. stuart: spielberg has west side story coming out. >> on the big screen. with extreme on netflix? not part of the deal from how i read it but steven spielberg is double dipping, universal, comcast for a few movies a year. it doesn't have to be directed by him, helps direct. stuart: that is a plus for netflix. that man is the star director. what is disney doing? gaining fraction in the videogame market. >> using disney characters

cross the x box universe. stuart: snow white the videogame. >> pirates of the caribbean, guardians of the alex, avatar, have you seen any of these? the marvel universe, they've done well with mobile games but as a standalone these been console games have not been as successful and shutdown their in-house game studio in the middle of the 2010, what works for disney and what they are trying to do is collaborative effect that started across other platforms like x box, playstation and the like. why doesn't spielberg do what george lucas did? he sold the star wars franchise for $4 billion to disney but for spielberg if you are double dipping yearly revenue why would you do that? >> he wants to be funded by netflix, he can make half a dozen movies a year.

>> you can imagine he's making a lot of money. stuart: not waiting for the next paycheck. i should have this. shareholders narrowly approved the ceo's $155 million pay package. look at futures, 9 minutes from "the opening bell," up but not by much. this may be the bitcoin addition, 29-5 where bitcoin is, making a running in the financial world, "the opening bell" is next.

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stuart: if you are watching to see how the market is going to open it will be a mixed picture slightly higher for the dow, look who is here. scott wren, chief global strategist. he can look at markets around

the world and my question to you is america is recovering better than anybody else so is america's the best place to invest? >> for us it would be, that's not to say we don't like some international exposure, we like emerging markets, we are leaning toward the us large-cap, small-cap, global trades rebound, china, taiwan, south korea doing very well, they are going to participate once the supply chain disruption eases, we like international markets. stuart: forget the fed, forget higher interest rates. you believe we are in the early stages of recovery with years to run so you are looking at

american stock prices to keep going up. >> if we look to the end of this year, 6% gain on the s&p, if you look through year end 22, 15% gain without dividendss, we are in the camp that the us is pulling the cart forward, we will get some international participation and the best way is through emerging markets. stuart: we have a selloff, don't know if you're into bitcoin or not but it is at 29-8. do you think the selloff in cryptos has any impact on the stock market? >> i do not. as a currency trader from a long time ago i know volatility. bitcoin is very volatile, i don't think that will change but i don't think the stock market and financial market in general is going to be or

should be paying attention. stuart: you are setting us all down here giving us a sense of relief because you don't see a huge threat to stock prices in the immediate future. >> part of my job is to help retail investors have a realistic look at the market and if i'm trying to figure out the biggest risk, for us, inflation is going to be transitory which is a word the fed uses, it will accelerate next year and that is the question going forward for stocks. if you think inflation will accelerate and stan a high-level for a multi-your period that will be a problem for stocks. we are not in that camp, we are early in the cycle with multiyear gains and we want to lean toward more cyclical

sectors whether material or industrial, a lot of international exposure, communications services, we are leaning toward a continuation, we don't think inflation will get out of hand, then pre-pandemic levels. stuart: 2 and half minutes, pretty good. see you again soon. this market, futures turned around a second ago. we are up and running, started trading at the dow is open with a small gain as expected a very small gain. the s&p 500 opening, the same story there, fractional gain, 0.02%, it has opened and it is down 0.20%. i will say there's not much stock price movement.

a nice move in microsoft, a new intraday high, stopped laughing, i am a happy guy. apple is at 132, the only loser in the big tech camp is google, down $4.80. look at cryptos, the crypto addition of "varney and company". ethereum, 1760, cryptos making the running. >> industry trading environments below certain level starts cascading. stuart: below the 200 day moving average. stuart: bitcoin 29/seven. game stock is up 7%. they completed the sale of 5

million shares, and investors not that bothered, stock is up. >> take advantage for the transition to online. stuart: sorry. >> for general investment purposes, you need a website or to higher people. stuart: the thing is up 7%. a new target. >> the quickest redit stock. stuart: what does it do? >> one of the largest e-commerce sites. it is pretty important. wish.com, the blackberry, the cost and the mc, coming out of

crypto into these momentum plays. stuart: a list of memes every day. >> tracking the movement of money, high velocity crypto, where is that cash going? cash on the sidelines. stuart: let's look at amazon, how they are performing in the first 3 minutes, up $13, $3,467, just got the numbers, the first prime day, total sales $5.6 billion, seems like a big number for me but it is not good enough. >> not good for the market either. $10 billion, this year estimates penciled in for at least 12 billion and those are conservative estimates, amazon comes out above it so tracking 5 billion or so would be disappointing. should i buy an air fryer on prime day? i never use it to cook.

stuart: i am sitting here minding my own business and you buy a prime fryer? we have got to get serious. crowd strike up nearly 4%, investment company that says it is a big move and they will move higher still. how high will they go? >> $300, roughly 20%, crowd strike is the most famous for investigating the dnc server act, cybersecurity is a big deal, so they want to protect themselves online. stuart: moderna has won a $3.3 billion, 300 million doses

scheduled for delivery in march, up.2.7%. more than 1000 pilots travel is surging. just got these numbers from the tsa, passing through checkpoints monday so they passed the 2 million mark after the last 5 days. airline travel is taking off. headed by home depot, 6%, nike verizon, proctor and gamble on that list, the s&p 500, the ball corporation. don't recognize many of those names, they have gone to that side.

nasdaq winners, what have they got? micron is at the top. $747 a share. >> mostly chip names, in the global chip shortage outperformed. stuart: look at amazon. they are not disappointed by $5.6 billion in sales. >> the treasury yields, one.5. >> we are down 80, rapid price movement in the matter of seconds. the 10 year treasury yield one.51% on the upside, price of oil $70 a barrel. the price is steady at $3.07 a

gallon. california has gone up again, the average price of regular in the formerly golden state. gasoline, 1774 is the price per ounce, bitcoin back to that one more time, 29/seven. >> will he crack above 30,000? only 4 to 5% institutionals by into crypto currency, most of this is retail driven, the technicals in play, there might be pressure to sell. stuart: 29/7, keep an eye all day long. remember this story? a new jersey school board canceled holiday names from the school calendar, remember that story? parents fought back and won. >> i'm going to say this is a flash point, the line in the

sand, ever reach? enough is enough. stuart: not just in new jersey but opposition to race-based education spreading rapidly. we will deal with that in the next hour, president biden's relationship with a left wing of the party will be tested. progressives like bernie sanders in revolt against bipartisan infrastructure deal. what does larry kudlow have to say? we will find out after this. ♪♪ don't need to be coin, roy ♪♪ just set yourself free ♪♪ hop on the bus goes ♪♪ don't need to discuss much ♪♪

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stuart: the dow is down 50, and microsoft had another record high. no one i have a smile on my face.

bitcoin is the story. it is down some more. $3,000 lower, 9% lower. president biden expected to meet with lawmakers to discuss the latest infrastructure proposals. maria: they need to negotiate ways to pay for it, we are looking at $1 trillion, the gop wants it below 1 trillion but how we'll pay for it given that you had biden and the white house and jen psaki saying no to the gas tax. what they are targeting is raising taxes on the wealthy, looking for the one%, tax -- taxing capital gains like income will go above 39%, the corporate tax at 28%. i did some analysis. do you know the tax policy

center said even though biden doesn't want to raise taxes on those making $400 or less those making 75,000 to 100,000, 3 quarters will have to pay more. the reason, losing out on gains in the stock market. they will pay $400. stuart: that is interesting. bernie sanders along with the other people you are talking about will not back any infrastructure deal if it has higher gas taxes and higher fees on electric vehicles. larry kudlow joins us. can you quantify how strong is the left in infrastructure negotiations? >> there position has been gradually weakening because they are not getting all the moderates in their party. i'm not going to say i will correct but i will amend, the

tax policy center did say middle-class people, the blue-collar middle-class will pay higher taxes under biden's proposals. a piece of that is the higher capital gains tax which will depress stock market returns so that is the investment peace and there is the consumer peace because they have to pay higher prices but the biggest piece is the corporate tax and even the tax policy which is left of center but a capable outfit corporations don't pay taxes. individuals pay taxes and the congressional budget office among many others, tax foundation and so forth, 70% of the burden of corporate taxes, 70% fall on the middle income working folks.

the point i am making, this is where the logic falls apart, if you take that tax 21% to 28% and add domestic minimum tax and the global minimum tax which looks like a windfall we surrendered our tax policy to the g7, america last and add the capital gains tax which is another tax on corporate profits you will slam the middle class, wages will go down because business profits and incentives will go down, real wages will fall, productivity will fall, family incomes will fall. the villain in the story the left-wing democrats did not understand or acknowledge, raising the corporate tax. final thoughts, when donald trump cut the corporate tax 35 to 21 we had a boom, record low unemployment across the board including all the minority groups, record 50 degree lows,

and the villain no one wants to address is the negative impact on the middle class of jacking up the corporate tax and giving the g7 carte blanche, used to be america first, i guess we are g7 first now. stuart: do you think the republicans in the house and or the senate have enough power to stop any tax increase on individuals or corporations? have they got that power? >> the right question. i can't give a definitive answer but they are in a stronger position than they were two months ago. one reason for that is the economy is booming. the second reason is inflation is booming. i happen to think the inflation

is one off but whatever i think doesn't matter. consumers are feeling the inflation pinch, it damages real in command might go on another month or 2 or 3 so that is damaging them too. they can't bring the moderates in the senate in, manchin and cinema, tester doesn't like the increase in the it estate tax. democrats are in a weaker spot. i was interested in what senator sanders said. he is a smart guy, runs the budget committee, he hasn't yet done a regular order budget resolution, they haven't on a budget resolution and the committees have not reported out so it was funneled into the budget committee and that is a reconciliation. on the spending side he was okay, for the bipartisan coalition, and when he disagrees with, i am opposed to a federal gas tax increase, but

as far as electric car fees are concerned i am in favor of that because it is a progressive tax was only wealthy people can afford to buy electric cars so why not substitute? i think that works but other stuff, taxing the rich and corporate tax and everything else is a nonstarter i'm not sure it passed the house at this point and he wants to expand medicare. he want -- mister sanders wants to take medicare down as i understand it is 60 years old or 55 years old, biden campaigned on 60. that is wrong way. people live so much longer, the trend has been to extend retirement age. retirement could gradually over

time go to 71, 72, 73, 74 years old and that would save a ton of money. i don't know how old you are. stuart: i've got a heartbreak coming up on me. while we were talking i saw bitcoin go down to 2101, it is 2901 as we speak. thank you very much indeed. on your screen bitcoin 29-1, bitcoin crypto action dominates the scene on the market and we have this one too. this is completely different. and olympic athlete wants to win so she can burn the flag on the podium. why would you want to represent the country if you hate it so much? looking to renovate your house? hope you have a lot of money and patience, lauren simonetti explains after this.

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stuart: did you know there's a problem with home renovations? they are delayed and i want to

know why. lauren simonetti is backyard hopping. tell us why renovations are being held up. >> you can't get the materials, this homeowner is waiting 10 weeks, cost 21% more than they did last year. it looks like it could be a beautiful kitchen if it were finished. they had setbacks with that too, beautiful dream homes and enjoy space and it is becoming impossible to finish that space, not just building materials but also plant materials, this is a large green giant. trees like this take on average 8 to 10 years to grow. good luck finding a tree available so people are having

to settle and pay double in some instances for shorter shrubs. you don't get much privacy but short trouble. john is the owner of the landscaping company. have you ever seen anything like this? >> in 41 years i have never seen anything like this. it is extraordinary. the wait time, we waited 10 to 12 weeks for this to arrive. >> reporter: the issue is some customers have gone away. back to you. stuart: good stuff. now i know why things are delayed. still ahead the governor of georgia, brian kemp, new yorker brian kilmeade, mercedes schlapp, marsha blackburn from tennessee, the second hour of varney's next.

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♪. stuart: pink floyd, i like the song, money. good morning, everyone. 10:00 eastern, straight to your money please. we headed south for the dow industrials. huge rally, up 586. first half hour we're down 100 points, moving lower as we speak. yield on 10-year treasury. part of the equation this morning, 1.50%. the real story of finance as of

this moment is bitcoin. $29,300 per coin. in fact all the cryptos are down. at one point just a few moments ago, bitcoin was at 29, one. it has been quite volatile this morning. watch this thing. if it goes way below 30,000 and stays down, that is a very bad technical side for the cryptos. coming in to us literally in the last minute, the existing read on home sales. this is very important indicator for realtors. how many homes are selling? on an annualized basis the number in may came in at 5.8 million. that is actually down almost 1% from april. in other words, the pace of selling is slowing down. april, making, that was, april was -- let me get this right. we've had four down months in a row for existing home sales. it is indeed slowing down.

scott shellady joins us this morning. where is he? got the bow tie, got the cow jacket, he is ready to go this guy. seems to me the housing market is really cooling down. there is one basic reason for it, that is, there is nothing out there for sale, nothing to buy. what say you? >> that is part of it, stuart. you know what? i'm not quite sure this housing market bubble per se was going to be long-lasting anyway. i think a large part of it was a lot of folks from the cities going one move outside, get out near the suburbs with extra space. once that big migration's done, then i felt as though that would be another part of that cooling off process. things are definitely though, to your point, coming off the boil. there are a few other commodities like oil that still are stubbornly high. slowly, but surely, it might take year-and-a-half, stuart. they're probably not getting it down to where they were before. inflation is a little sticky it, doesn't go back to where it was.

things will slowly, surely get back together once we have supply chains kicking stuff off. the conveyor belt. we have issues with other countries part of that supply chain. they're in the still in the middle of pandemic that won't remedy anytime soon. i think at some point in time but it will take a year, year-and-a-half. stuart: bitcoin, that is the big financial mover of the day. i can't remember if you're in bitcoin, or out of them forever, you're not. >> no. no. stuart: do you think this selloff in bitcoin, it's a selloff, it was at 64,000 two months ago. now it is 29, four, what is the overall impact of sell off of cryptos on other financial markets? >> well i mean, it will give us a little bit of a risk off kind of a feel in the markets. you know what, stuart, it is still not, i say this all the time, a lot of people get mad at me, cryptos in the investment community are tolerated.

they're not being embraced, right? it has been a couple times, 2015, 2016 when we had the go round, everybody started up crypto desk and then they closed crypto desk. now they're starting them up again. that was talk was hot and heavy when it got to 55, 60,000. this is not the big boy asset class. it is something tolerated. it is not embraced. the best line i tell you, find 10 people invested in bitcoin, if two of them can tell you what bitcoin is, that is a lot. i need five or six being able to tell me what it is before i really want to get involved. stuart: you will get very nasty emails on that. >> i do, i know, i know. stuart: straighten me out on something, scott, is this your last appearance with us? >> very well could be, sir. you know the proverbial offer you can't refuse came across the desk about two weeks ago for another cable news channel. stuart: really, really?

i create this guy, scott shellady. i create this image of the guy who is mr. common sense despite the cow jacket and yellow bow tie. i create this image for you. i create a public persona for you and you leave? >> yeah. well, i mean you are the bow around i am the arrow, sir. i tell you, i owe you, i owe you a very big thank you. stuart: thank you. >> you've been a big mentor in my life this way. i will be going to 100% media. leaving the brokerage business to do this job. it will be everyday gig, kind of like what you have going here. i'm very, very excited about it. it was an offer i couldn't refuse. however, there have been some last minute backdoor dealings that i have had give, i've been given permission to make a guest appearance on your show every now and again. that will still be the case. but as far as an every week per se thing, that is going to be over because i will be moving to music city, nashville,

tennessee on monday to take up the gig on this everyday media spot. stuart: we'll see you next month. seriously, scott. you're a great guy. you've done wonders for us. we appreciate it. we wish you the very, very best in anything you try. >> thank you, stuart. i appreciate you. stuart: yeah, yeah, flattery is always good for tv. we'll see you again soon, scott shellady. >> see ya. stuart: let's wrap that up. now this. it is a grassroots movement and it is powerful. opposition to race-based education is spreading rapidly. it burst into the open when an angry parent denounced race-based education at the elite dalton school in new york city. colleges where white kids had to stand up to admit brave ledges. now 54,000-dollar a year k-12 school, where science class, racist cop reenactments and.

soon after the dalton school episode, public school board meetings became battlegrounds. parents vented anger at racial division taught to the youngsters, loudoun county, virginia, became a center for confrontation. randolph township of new jersey, tried a naming of holidays. no christmas, independence day, memorial day. no, it had to be day off one, day off number two. there is good news, last after a raucous town meeting they rescinded the holiday renaming nonsense. step back a moment, please. where are we going with this. anti-race-based education movement is making inroads especially in suburban school districts. in urban school districts with strong minority presence the movement is nowhere near as active or effective. we end up some schools teaching race based identity race curriculum while others step away from critical race theory that would be a profound

division. that is not what reasonable people want. teach reading, writing, thinking, problem solving. that is what this grassroots movement is all about. unity around basic education, not division by race. i want to bring in ian prior with us right now. loudoun county parent. executive director five for schools.com. great to have you on the show. how is your movement going? >> we're going, stuart, six weeks we're focusing recalling a majority of the loudoun county virginia school board. for one of those members, we're at 76% where we need. another we're at 70%, down the line. we have a lot of excitement. democrats, republicans independents. there are a lot of different topics we can talk about when it comes to school boards ultimately to see what they're doing, they're not being transparent. they're passing these issues in the cover of night. when parents find out about it,

they really have no recourse but to go to the school board meetings to speak out and be heard. stuart: hold on a second, you're doing well. the movement is really expanding, i got it. my concern is, you end up with critical race theory, you're note going to do critical race theory in suburban schools but it is going to be taught in urban schools. that is a profound division which we really don't want to see. but i think that is the direction we're going in. what say you? >> yeah. certainly appears that way. i think one of the things that you're seeing throughout the country, yes, you're seeing it in suburbia. i think the hope is what you're seeing on a day-to-day basis turns into a fire that spreads across the country and not just in suburban areas. this is not a black versus white thing or hispanic versus another group. this is something that all parents are concerned about because if you're moving away from teaching the concepts of equality and western style

liberalism around moving towards identity group politics in schools, then you are creating problems for your kids when they should be focused, like you said on math, on science, accurate history. instead they're focused on divisions. stuart: we wish you well with your fight. ian prior, thanks for joining us this morning. much obliged to you. that is politics, got it. get back to the financial news of the day, centering on the cryptos. bitcoin is at 29,200. ethereum dropping well below 2,000 bucks a coin. you're at 1700 as we speak. there is this, big decision across the country facing a law and order crisis. one msnbc contributor says it is the fault of the police. roll tape. >> this rising crime is not the fault of the movement. it is the fault of the police. why should we keep funding systems and institutions that keep rendering themselves ineffective. stuart: brian kilmeade joins me.

he will take that one on for sure. portland trying to mend its image as a city of unrest and rioting with a new ad campaign. watch this. >> sometimes pushes all the way up. we've always been like this. we wouldn't have it any other way. stuart: got more on that coming up as well. first, a major hospital system in george goo hit by a cyberattack. the governor of georgia, brian kemp is here next. ♪

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it has handrails, a wide door, and textured surfaces. so it gives you peace of mind. and you would love the heated backrest - and the whirlpool jets - and the bubblemassage. and, it was installed quickly and conveniently by a kohler-certified installer. a kohler- authorized dealer walked us through every step in the process and made us feel completely comfortable in our home. and, yes, it's affordable. looking good, george! we just want to spend as much time as possible, in our home and with our grandkids. they're going to be here any minute for our weekly spa day. ooh, that bubblemassage! have fun! stay in the home and life you've built for years to come. call 1-800-986-5068 to receive one-thousand dollars off your kohler walk-in bath. and take advantage of our special offer of no payments for eighteen months. stuart: check those financial markets. the dow is down 50.

nasdaq is up 10. not much stock price movement, look at this, bitcoin, movement right there. down 3,000 bucks. 29,400 is your bitcoin quote. all the cryptos are down today. microstrategy is down big, 10% lower. just a day after they said, hey, we own 100,000 bitcoin. the price promptly dropped. the stock has gone down with it. 522, microstrategy. one of the largest hospital systems in georgia hit with a ransomware attack, shut down the computer systems. "fox & friends" first co-host todd piro joins me. do we know who did the georgia deal? >> we don't know. it wasn't on the list that biden said don't hit us, putin. remains to be seen. st. joseph's candler was confirmed it was hit with a

ransom wear attack. they used old hospital records and paper to help patients. this comes one week after president biden's meeting with russian prime minister vladmir putin. he went all shaggy on us, favorite artist of the '90s. it wasn't me. he said most of the cyberattacks are done by the americas. stuart: the day after the putin meeting, day after the ultimatum, they get a ransomaway attack. >> that comes after the list. the list will come back to bite the administration. stuart: we have the governor of georgia with us, governor, great to have you back again. are you getting help from the fed on this, from the feds i should say from this? >> good morning, stuart, we've been in touch with st. joe's in savannah, georgia. this is systemic around the

country. we just got over the pipeline hack that crippled pipelines. the biden administration, we need to go after the people t needs to be a federal response. we need to track them anywhere in the world, punish them criminally. punish them financially. this is the new war we're dealing with in today's world. stuart: this is a trial for president biden. this hacking attack came a day after the red line was drawn with the 16 projects, he says to putin, don't touch h touch nip of these. this is a trial for the biden administration and security of our computer systems. >> if anything, over the last year it taught us is that critical infrastructure and industries are a vital part of not only our economic viability but also just our national security. we've seen this with the pipeline. we're now seeing it with health care and infrastructure. not just here in georgia but all over the country. to me, this deserve as very strong federal response. we need to track these people

anywhere in the world they are. and we need to hurt them financially and in other ways to send a message that look, we're not going to put up with this. i hope that they will do that. stuart: you have been getting a lost criticism in georgia recently because you removed almost 100,000, what you called outdated names. took them off the voter rolls. a lot of criticism on that one. can you tell us your criteria for moving people off the voter rolls? >> well, stuart, first of all that is constitutionally mandate authority of the georgia secretary of state's office. i was there for nine years. we did the same thing. they're following federal law. i know that is shocking to the democrats, they leave that little part out. it is pertinent for states to-do list maintenance. people deceased need to remove them from the rolls. people move out of the state, you don't want them to be on voter rolls in multiple states. i have seen that before. we saw it in the last election,

where you have individuals that voted in two different states for the presidential election. that is why you do these things. there is a process that is dictated. you can actually go online around look and see the over 100,000 names that will be removed. if there is not contact made. actually a pretty simple process. we have secured, accessible, fair elections in georgia and list maintenance of the voter rolls is a big part of that and has been for decades. even under the democrats. stuart: governor, we appreciate you being with us today, on a newsworthy day with the hack on the georgia hospital system. we appreciate it for you coming by. thank you, governor. see you again soon. by the way the senate is set to vote on democrats sweeping election bill today. todd piro back with us. senator manchin, do we know which we will go on this? >> comes down to manchin on a lot of these things. we still don't know if joe is a go. unclear if that matters. senate likely to kill s.1,

democrats voting rights act in next few hours. west virginia joe manchin is undecided on the bill but undecided whether to start debate. this is not a vote on the bill but a vote on debate. no republican support. gop expected to filibuster. e democrats want to send a message that republicans are defense voting rights, need manchin. he proposed a bill to publicly financed elections. nothing will happen today voting wise. stuart: got that. thanks very much, todd. coming up on this program, an american olympian wants to make a political statement at the upcoming tokyo games. she wants to burn the american flag. extraordinary. we've got the story. first though, joining us shortly, senator cynthia lummis. she actually owns bitcoin and bit down now at 29,400. we'll be back.

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nasdaq up 14. that is not a lot of price movement. check out the dow winners. this is the top performers among the dow 30. home depot, a solid gain. nike, microsoft, dow, inc. on that too. s&p 500 winners. l brands, parent company of victoria's see crest. they're right up there. doing something with another company. $500 million worth. that is why l brands is up this morning. nasdaq, who are the winners there? headed by nvidia. there they go again, just a few weeks ago that stock was in the 400-dollar range. they announced a four-for-one stock split. now they're at $747 and they keep on going up. nvidia, you have to call them the new big tech. have a look at sotheby's marking another bitcoin milestone. that is news to me. todd piro, tell me what they're

doing. >> put away the suitcase of cash under the desk. put it away. it will not count. will take crypto up to 15 million bucks to land this gem after gem. rare, pair shaped flawless diamond. 103.8 carats will be arb shunned next month. sotheby's claims no other high value object was available with crypto. a painting was a few million dollars less. this is legit. we talk a crypto a lot on this show. my god, you can buy a diamond which is a rare gem. stuart: can you only buy it with crypto? >> yes. stuart: that's it. you can't use cash? >> this auction is crypto only. stuart: interesting. i wonder why? i guess the person who gets the bitcoins wants to keep invested in bitcoin. >> there was interest sort of hitting the younger market, getting these gems to the younger market especially in asia. so i think using crypto, sort of gets that market, gets them excited. stuart: that is how you would get into the market if you got

the money. >> my wife would be excited about 1.1, 1.83-carats, regardless whether i purchased with crypto, cash, sold my body. stuart: how many carats? >> 1.0138. stuart: that's a lot. not a lab diamond. >> lab grown diamond. legit. stuart: cubic zirconium. sotheby's would not touch cubic. >> that is a different story. stuart: i want to bring in senator cynthia lummis republican from wyoming. welcome to the program. first question, bitcoin. you're a senator who owns bitcoin. the only one that i know of. how do you feel about bitcoin's decline today? it is at 29,800? >> i'm really excited about it, as soon as it drop as little more i will buy some more. i tell you stuart, my favorite stock i own is a company called united rentals. i bought it. it dropped like a rock.

i held on to it. and my gosh, it has performed beautifully for me. i see bitcoin doing the same kind of thing because the fundamentals are good. stuart: do you want any kind of regulation for bitcoin? >> i do. i want to have a level playing field. so digital assets, cryptocurrencies, understand what the rules of the road are. they are very simple rules. easy to understand. and they're not overly restrictive because we want to see increased innovation in this space. stuart: may be, excuse me, may be some form of regulation would actually help bitcoin and the other cryptos. actually i think it might. let's get serious for a second, senator. president biden wants to cut off oil and gas leases that would be a bad deal for your state. you rely not heavily but rely to some degree own the revenue from oil and gas leases. is there anything you can do about this? >> well i'm so proud of my

friend, jeff landry, the attorney general of louisiana, for filing suit and success fully showing a judge in louisiana how significant the impacts are on states when the federal government through executive order prevents new permitting for oil gas and other minerals. so, yes, we can sue. yes we can make sure that the laws, that were passed allowing oil and gas drilling are not interrupted by executive orders. but in addition to that, we want to show them that we can innovate our way into just very clean uses of traditional sources of energy. earnings i hope you can overcome this because there is a good deal of argument about how we can increase the supply of natural gas in our country, which we absolutely need.

you think you can really turn this thing around? >> we have it turn it around, stuart. because natural gas is the cleanest burning hydrocarbon. it is a abundant and it is essential to our energy needs in this country. you look what happened in texas when overreliance on wind energy was significant during their cold-snap. and there are other examples where that is true as well. that is why we absolutely need, clean-burning natural gas all over this country. we want to be in a position where we can also export it in the form of lng to india. stuart: senator, thank you very much for being on the show today. i think it is the first time i have ever interviewed a united states senator about bitcoin and once you're on the air talking about bitcoin, it stayed pretty stable. i wonder if you put a floor under it. we don't know that. but we're going to assume that you did.

thanks for joining us, senator. we will see you again soon. >> thanks, stuart. stuart: back to the markets. not that much price movers. susan has big movers. sanderson farms. what is the story? susan: largest poultry producer here in the u.s. according to "the wall street journal" they're entertaining a possible sale, including selling themselves to continental grain. i want to talk about nvidia, you point it out, world's largest chipmaker continuing to lead the rally. nvidia got a price target hike at raymond james with $900 in their view. nvidia, trulia, a cloud communications company, initiating coverage from needham a buy of $430 in their view. -- twilio. finally check in on the crypto plays, the likes of coinbase and

riot blockchain, marathon, they are tumbling today along with the price of bitcoin. sub30-k, ether, rest of crypto space coming off. stuart: that is making headlines susan: stu, todd, one carat is not enough for most girls. leave it at that. stuart: we're not getting into it, susan li or suzie lee as my friend larry kudlow calls you. amazing story. teenagers making really big bucks. we'll tell you about some eye-popping salary. one fast-food chain, they're offering this huge salary to keep younger workers. we'll tell you how much they are going to make. hailing a ride, becoming more of an extreme sport these days. a lot of drivers across the country are making the financial decision to stay home. that hurts us all. we'll tell you about it after

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♪. stuart: shut up and drive. i like that. that was the title of the a book, "shut up and sing." i forget who wrote it. it was about a rock star going on about politics, shut up and sings. midtown manhattan. sunny but cloudy. some drivers. not many. turns out my friend, colleague made a mess of his report on the diamonds. >> huge failure. i apologize. turns out you can use suitcase of cash. we made calls, made sure you can use the suitcase of cash to buy the 15 million-dollar diamond.

you can use traditional. the goal is for them to use more crypto. but you can use traditional. i apologize if you're interested in that diamond. stuart: thank you very much, for that apology. good stuff. if you've been having trouble hailing a taxi or uber ride these days, you're not alone. unemployment benefits we are told are keeping drivers at home. lydia hu is in new york for us. lydia, is this just a temporary situation? reporter: hi, there, stuart. analysts expect this will work itself in the coming months. they say right now it's a mismatch between supply and demand but they also point out in some of our big cities, we're seeing fewer than half of the number of taxi drivers on the road that we saw before the pandemic. uber and lyft are also experiencing driver shortages. they say that they're down to about 1/3 of the number of prepandemic drivers they had in some big cities. the results are taking longer to get a cab or uber lyft, and once

it gets to you, you're paying more. >> those fares will come down some. i think they're unlikely to come down to where they were before the pandemic. uber and lyft were raising their fares before the pandemic. they're under huge pressure from investors and the stock market to become profitable. reporter: lyft's ceo discussed on a recent earnings call, that, one of the reasons they're having a driver's shortage are continuing federal unemployment benefits. those will end in the coming weeks and next few months for the other states. they expect the issue to resome. they think that will encourage drivers to get back on the road. they point out right now with the higher demand it is also generating a higher hourly rate for drivers. you know lyft is saying that their drivers in top markets are making between 25 and $30. uber saying the median wage for drivers in new york city,

topping more than $37 an hour. they're looking for it as a good opportunity for drivers to get back on the road. stuart? stuart: lydia in new york, thank you very much. the stock market going virtually nowhere this morning. the dow is down 15 points, that's it. pretty flat stock market. different story for crypto's, we got that later. louisiana gave unemployment benefits to a lot of dead people. how many? >> they paid out more than a million bucks in unemployment benefits to dead claimants during the pandemic. 374 people in all were sent money. the state said most of that money was processed before they got the death certificates. some of that money should been avoided through proper data managing according to louisiana's workforce commission. identity theft played a role as well. stuart: tell me about this texas fast-food chain. i think it is called lane's rooster fingers. they're paying an enormous amount of money to keep their

younger workers. how much money are we talking about there? >> this is the most shocking story of the day. it shouldn't be that much of a stock, what we're reporting on unemployment benefits and the impact on the benefits. you don't need to be child star to make bank as kid. child star, stuart varney. it is rule. lane's rooster fingers, texas fast-food restaurant paying teenage managers 50,000 bucks a year as businesses around the country struggle to get workers. so many people as you know we reported on it, staying home until september cashing unemployment checks. the company is coaching 16, 17-year-olds how to run shops. think about that, 16, 17-year-olds. they have to deal with this, a lot of people, a lot of employees are going to mcdonald's or walmart to get the cash that those guys are offering. stuart: i think that is a great story. encourage youngsters, you make serious money, work hard, do the right thing. here is the place to do it.

i love it. >> instead of spending $50,000 a year on college. these 16, 17-year-olds are starting career early. maybe they run a franchise and make 500, a million dollars. stuart: fascinating great stuff. one more for you. about tinder, the dating app. they think online dating is primed for change. do we know what kind of change they're talking about. >> this one is a little weird to me. i've been out of game for some time as you have as well. guess show people your moves on tinder? the dating app announcing just this morning a bunch of new features, including option to add video to your profiles. currently tinder can only use pictures, still ones. this follows other dating apps like bumble and hinge which turned to video during the pandemic. i guess led to digital dates as opposed to in-person date? stuart i don't want to go into it. i like my job. i don't want to get fired. i don't understand what the pay-off is of a digital date.

i'm more a in-person guy. i'm out. stuart: i'm leaving that one alone. >> both leave it alone. stuart: with a 10-foot pole. i do have a further story on another dating app known as, what is it, bumble? that is the one. this is the one where the women make the first move. i think that is bumble. anyway, they're giving their employees this week off. the ceo whitney wolfe calling it an effort to help with burn out. i'm not sure who is burned out, the people on the app or the employees. >> all of the above. stuart: all. let's get serious. crime spiking in major cities across the country. one media analyst says it is all the fault of, the police. i can't imagine what brian kilmeade is going to say about that. he is on the show later. plus after a year of rioting, plus unrest, portland trying to mend its image with a new ad campaign. we'll show you to you. ♪.

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stuart: major cities across the country struggling to get a handle on violent crime.

it is hurting small businesses in particular. grady trimble is in chicago talking to small business operators there. how are they dealing with the surge in crime, grady? reporter: it is tough for them, stuart. this restaurant where we are, bella luna cafe used to stay open till midnight on weekends. now they're closing at 10:00. danny is the owner. what changed recently made you make the decision? >> uptick in crime. it is out of control. there was carjacking literally two blocks from here at 10:20 at night. reporter: give you context we're downtown where a lot of people work and live and go, it is troubling right? >> this is horrible situation. we're river north area. it's a vibrant area. i opened here 30 years ago. they didn't charge for meters after nine at night. people are parking all over the streets. people were out and about. it was a safe and secure area. it is incredible what is going on now.

reporter: when you talk to your friends that own businesses in the city, employees that work for you what do they tell you? >> they don't feel safe. they don't feel safe. i have a friend that own as bar down the street. i have my daughter working here. when we leave i have to walk her to her car to make sure she is okay. it is not a secure situation now. reporter: i want to show you some numbers as well, yesterday the superintendent of police talked about some statistics showed decrease in some type of crimes, year-over-year. if you look at this neighborhood specifically, criminal complaints the last 28 days, compared to same period, are up across the board, whether robbery, shooting incidents, vehicle theft and sexual assaults. those numbers back up what you're describing to us. >> it is not a good situation. uptick in crime is not a good situation. reporter: senate situation here, stuart in downtown chicago. i know a lot of business owners across the country and other major cities are experiencing similar situations. stu?

stuart: grady, thank you very much indeed. let me segue briefly to the stock market. dow industrials are on the upside. bottom line on the financial markets, not much movement on stocks prices pretty flat across the board, you can see it on left-hand side of the screen. big news in finance today, is the cryptos. bitcoin dropped below 30,000 bucks. it is staying there. no just went back up to 30,100. that is a bit of a rebound for bitcoin. 10:51 on the east coast. that is time for brian kilmeade. come in, brian. you're a new yorker. voting is underway for the new york mayoral primary. the issue is crime. watch this, msnbc contributor raising rising crime on the police. roll it please. >> there are a lot of police unions and go purchase operatives would like for us to believe this recent crime wave has everything to do with the idea of defunding the police. this rising crime is not the fault of the movement. it is actually the fault of the

police. stuart: interesting, the msnbc anchor there was nodding along sagely as if she agrees with her. what do you make of this, brian? >> no rational human being would agree with her. she is so caught up in politics, she doesn't understand there is no democrat or republican when you're carjacked. when you're caught in the crossfire between two gangsters no one says, if the bullet hits me i must be republican or democrat. no, there is crime. there is crime bleeding into the suburbs. there are crimes all over the cities. as american people go back to work in the city. before they go back home they say what happened? what is happening with homeless encam papments. why are they not pushing them away? where are the police officers? why are people getting arrested out the same day? why are people getting arrested because they're getting out the same day? not just new york. it is chicago, philadelphia, los angeles story. it is in austin, texas story. this is not because of george

floyd. it is because of what happened after george floyd's death at the hands of derek chauvin. what happens they blame every cop. i hope you buy into my analogy. you break up with someone you realize you huge mistake. for a year you watch the someone have the greatest life ever without you. so the cops were told they are the villains. they are the bad guys. they backed off. though quit. they handed in the badge. didn't have academies. couldn't fill up academies. they're looking around, watching all hell break loose. they are not saying i told you so because we don't have to. we knew what was going to happen. 99.9% are great people doing extraordinary things not getting paid nearly what they're worth on a daily basis. you made them the enemy and the problem? you want them to go above and beyond? forget it. good luck in minneapolis. only thing growing in minneapolis are the pup tents on fields where kids used to play

in. this is a joke. stuart: okay. portland, oregon, trying to repair their image after all this violent crime an violent riots. they have a tourism ad. they're trying to bring tourists back. watch this? >> this is portland. so is this. and this. we're not perfect but we're the kind of place where you don't have to be anyone but yourself. and yet, we have some of the loudest voices on the west coast. stuart: all right, brian, what is your judgment? do you think that will really draw people back to portland? >> i'm looking online, the travel sites. so many people have given up the trip to aruba, they're thinking portland. this summer, sure enough, almost all of them are leaving aruba. they're leaving atlantis as well. i don't think anybody is going to florida and i don't think you will go to the gulf coast at all. i believe portland will be great. bring your own riot shield to walk to get a tuna sandwich.

it will be fantastic. what is crime up? literallyhundred%? you can -- 800%? you get 17-year-old doing joyce over on a bad ad you think you can change things around? maybe law and order might be a start. maybe i can keep my business open with plywood. only thing selling is plywood, people temporarily close their business or decide permanently close their business. this is embarassment to the country, portland and seattle. only thing that is a magnet is antifa, i don't believe. stuart: thanks for coming on the show. see you real soon. >> get them, stuart. stuart: todd piro, still with me, reaction to the city crime, the police's fault. et cetera. >> we interviewed enough people on fox and friends first. enough people are cops. starts with broken windows policing. start with the small stuff, if

you do that we eliminate all the stuff. we're past that we're not prosecuting real crime. you have seen the video out of san francisco, the guy goes in, takes $1000 worth of hair products and then leaves. another network said, that is important because he can sell that. that is okay he can sell that to pay for his family. it is a felony? at least was reduced down to misdemeanor. if you're not doing the small stuff and you're not doing the big stuff. you're going to get state of cities in america in 2021 that. is why it is so scary. that is why you and i were talking. i don't want to be in the city unless i have to work. i get out. stuart: law and order is the key issue, one of the biggest issues for lexer shuns next year. >> it is the issue. stuart: todd, thanks for being with us. >> thanks for having me. stuart: another big hour coming up. we have senator marsha blackburn, mercedes schlap, michael lee and a whole lot more.rd that's a promise. before we board.

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taxing the rich and corporate taxing is a nonstarter. i am not sure it even passes the house. >> a $2 trillion infrastructure bill could make temporary inflation permanent and the fed has to play catch-up. >> volatility of bitcoin is very volatile but i don't think stock market and the financial market will be or should be paying attention to what is

going on with bitcoin. >> bitcoin won't be struggle free and that is $1 billion or $0. looking to pick bitcoin up. who is laughing now? >> ♪♪ we've got the beat ♪♪ yeah ♪♪ stuart: 11:00 eastern time. picking up a little bit of activity. tuesday june 2, '02, straight to the money, not much movement for stock prices, and share powell answering questions, he could move the market, not much movement, 30,$000 a coin, susan will have more in a moment. now this. it is probably very fortunate for the president that his

handlers keep him away from the media. he would have a hard time answering free reeling questions on any of the major issues of the day. he ran for the presidency as a moderate. now that he is governing he has gone to the far left, things are really falling apart. how about defund the police? congressman jim cliburn says that idea, quote, doesn't work. that puts rising crime at the center of the law and order debate. if he had to answer question what he ditch the man who gave him the nomination or would he go with aoc? the border, disaster territory for the democrats, they have to be quiet about their open border policy because it is unpopular. heaven for the media asked the president of he still thinks it is trump's fault, voter id, democrats don't want it but eight of 10 voters do want it.

there's a vote on it today, the president may have to rethink this issue. infrastructure, is it roads and bridges or social infrastructure like pre-k education and vast green subsidies. the president is caught between his early far left pledges and the reality of getting the votes. he gets good press, the media loves it but it is crunch time. the president cannot push through his radical policies, the left will be apoplectic, the democrat coalition is falling apart. third hour of "varney and company" just getting started. look who is with us. mercedes schlapp, with us this morning. if the democrats are falling apart as i believe then republicans have to maintain absolute unity. can they do it?

>> great question. i think the republicans have a strong advantage going into 2022 and i think they are more unified, small group of republicans don't like donald trump. they made their views known but the vast majority of republicans are outlined in what matters and this includes making sure we bring order to the border, republican governors step up to help governor greg abbott to secure the border, the federal government is failing to do. on the issues of critical race theory that is impacting local districts across the country many republican governors stepping up and banning critical race theory and what you are seeing a local districts saying parents are waking up and saying no more. we don't want our children to be indoctrinated on radicalized

ideas and on the spending front we know democrats motto is spend spend spend and for republicans they are saying wait a second, your spending is going too far, you're calling infrastructure everything and we need to make sure we have some fiscal control in the united states. >> chuck schumer went after donald trump and the gop over voting laws. >> these laws have one purpose only, make it harder for young people, nonwhite and typically democratic voters to access the ballot. republicans are making it harder to vote and easier to steal an election, shame shame shame. stuart: shame shame shame, that is all about election reform but it is going to die today, isn't it?

>> it looks like they will bring it up in the senate, for the people legislation and democrats want on record that republicans did not support this bill and they will campaign on it. the problem, besides wanting to federalize the election, strip the states of being able to conduct their own election, allows for ballot harvesting, doesn't allow you to audit the voter files, how many move in 6 months before an election, it shows the democrats, this is not about voting restrictions, it is about voting verification, making sure eligible voters, to make sure their voices are heard and that is why republicans stand

against the voter id bill, this revamping of our election process. stuart: are you comfortable with the state of the republican party at this moment with these big issues coming up? >> say that again? stuart: are you comfortable with the state of the republican party with all these big and contentious issues under debate in the next month? >> absolutely, republicans are standing strong, want to make sure they stop the democrats, the biggest question is insuring the filibuster doesn't get removed. we have seen an op-ed in the washington post from senator cinema from arizona, she stood strongly saying we need the filibuster. she is a democrat and says we need the filibuster so there is better negotiation for better solutions. in the senate you want to make sure both parties can come together to come up with better solutions for the american people, not have one party dominate and try to destroy the

other party. that is not effective leadership or effect of legislating. stuart: thanks for being with us. to the markets, not much price movement for stocks, about back for bitcoin. michael lee is back. fed chair powell held a meeting with president biden and i am wondering if the president and the fed chair and treasury secretary are not all working hand in glove to finance massive selection, do you think the fed is politicized? >> the fed has been politicized since the 70s with richard nixon trying to keep interest rates down. in the 80s, paul volcker did

nothing for inflation, it was to handicap ronald reagan, we saw janet yellen two days before donald trump was elected say i don't know if we will be able to raise interest rates again to have an election go not the way she thought it was going to go, one month later raise interest rates 25 basis points and shirking the balance sheet. the politics of the fed are not out of yours and mine if that makes sense. that's why accommodated policy will continue far longer than many people on the street believe, all these government institutions are politicized and their politics rely on power to the organization and the state if that makes sense. >> does big tech have a ways to go on the upside? >> what gives jay powell cover,

the bond market, a lot of talking heads are. the yield curve, going 220 basis points, a 15% decline in the shape of the yield curve, and in a low-inflation world, companies that can grow revenues 25, 30% and earnings at 50% are worth more than the rest of the market if that makes sense. stuart: i can't remember whether you are into bitcoin, it was below 30,$000 a coin. >> if you believe in bitcoin, the thesis behind bitcoin, going to have limited supply going forward versus unlimited printing of money, bitcoin's best days are ahead, we want to

be buying it here, i don't know when new highs will come, i believe the best days are ahead of it. >> we heard that, thanks, appreciate it, 30,$900 a coin. >> that is encouraging, 29,000, it was briefly 29,100 and people went in to start buying. >> it is right now. >> you might call this a dead cat bounce. they go in right away and drop below once again but if it does it might cascade, 24, 25, 20,000 in london. that is dragging on the equity

play, coin base and minors like ryan and marathon, micro strategy has half of its market cap in bitcoin holdings, amazon, if you want to check on other movers, amazon prime day, according to adobe analytics -- stuart: $5.6 billion on day one. >> 80% a company of that size. stuart: last year we were locked down. people did more online shopping, now we opened up, the malls are open. stuart: it was shifted to october last year. >> there was a calendar effect. they need to do more than that. new corporate wellness plans.

>> and for their employees. and and improve -- and to be involved in that, the free broadcast for the soccer game. stuart: you are supposed to subscribe. and watch it for free. >> to varney universe added to the russell 3000. stuart: the last three reports. thank you. cancel culture in the publishing world, led three women to start their own conservative book company. one of the cofounders joins me coming up shortly. doctor fauci brushing off the

lab leak theory. >> this has become political. it is a possibility, it is a very remote possibility but it is a possibility. stuart: senator marsha blackburn says fauci is shielding china from scrutiny. more than 80% of teachers are vaccinated but will that be enough to get them back in the classroom? we will try to answer it. ♪♪

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>> thousands of pounds of explosives near an aircraft carrier off the florida coast. the force was so massive it registered 3.9 magnitude earthquake. just off the coast of florida. we have been talking about critical race. in schools. alberto is superintendent of the miami-dade school district. is critical race theory going to be taught in the miami-dade school district? >> thank you for the opportunity was critical race theory has never been part of the state's curriculum or miami-dade county public schools adoptive curriculum so it has never been taught and there are no plans to teach it in miami-dade public schools.

stuart: will there be any kind, you have to demonstrate white privilege and apologize for it? any kind of education for the color of your skin? >> we follow the state's guidelines, particularly through social studies curriculum, history classes, there are appropriate resources that in an accurate way without biased influence provide students the appropriate education and we will not deviate from that. stuart: thank you, straightforward, got it. the national education association says 86% of its members received one dose of the vaccine so tell me are the teachers in your district insisting students get vaccinated by fall or come fall reopening before they go back to work? >> if i understood your question, there was some degree

of interference, teachers are demanding verification of vaccination prior to student returning in the fall? stuart: on the part of the students, do teachers demand the students be vaccinated before they go back to the classroom? >> we've not had a groundswell of teachers or anyone in our community making that requirement or request. it is not a policy i would support, not a policy the state at this point is advancing or advocating for. we will start the 21-22 school year without a mask mandate in place, without the mask mandate in place so we are doing it for a number of reasons, number one, vaccinations across the country and secondly the vastly improved environmental and health conditions with positivity rate somewhere between 3%, and 2%, hospitalization rates way down,

that puts us in a position of actually normalizing conditions, maintaining infection protocols is appropriate but trying to create an environment that is inviting to students, and environment that brings the kids to our schools and our goal to welcome 100% of our kids back to school on day one. we have had thousands of kids in our schools in all grades since october 5th of last year. we have demonstrated that it can be done and we are going to do it again with more relaxed protocols without a mask mandate for the 21-22 school year. stuart: will there be accommodation for students who request remote learning? >> we will maintain but that is not new. we are choice driven school system. 74% of students are currently

in nontraditional programs whether a single gender school programs, academies, law enforcement academies, district charter schools, 74% of kids attend nontraditional programs. they have always had as part of the option portfolio an opportunity to learn virtually. we will continue to provide those options for students but based on enrollment we are not seeing, we are not detecting a great deal of enthusiasm for enrollment and best programs, they are looking forward to returning to the schoolhouse and trust me, that is the very best option, they are recognizing the incredible unfinished learning experience, impacting some more than others, and full potential in

the classroom for dedicated teacher and resources they need. stuart: 100% agreement, thank you for joining us, appreciate it. following the money, the dow is up 70. not that much price movement for stocks over all. delta down one% even though they are going on a hiring spree. >> 1000 pilots by next summer. there's a shortage of pilots, reported that american air had to cancel 300 flights because of lack of labor and people to fly the planes. 1600 furloughed pilots won't get back to work until august, starting their hiring spree this summer starting with 75 but not just delta but united, spirit airlines and others trying to hire their pilots back as quickly as possible. the airlines are behind the curve, 2 million passing through tsa checkpoints. they should have seen this

recovery and travel and should have brought back the pilot ahead of time. stuart: american is saying they will be canceling some flights into july because they can't bring the workers back. >> like the markets it always skews one way too far. furlough too many and bring it back quickly. stuart: susie lee as my friend and colleague said, you are right on that. burgers, fries and covid stocks which you can get the data popular fast food restaurant. we will tell you which one coming up. senator marsha blackburn said the biden administration's deliberate inaction on the board has turned every state into a border state. she will make her case. ♪♪ ♪♪

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>> president biden promised transparency, we are not getting that. things that happened after midnight. to transporting tickets and

other states across america. stuart: in tennessee, tried to figure out how many migrant children getting dropped off in tennessee, marsha blackburn represents the state. at these drop offs, fully informed. >> seeking information, he filed a transparency act. filed legislation that would create transparency and state officials who come into the areas. you know the federal government is trying to push these migrants as they are practicing catch and release, push them from the border into communities across the country into facilities and transfer

the costs of education, healthcare, housing, child services, social services, transfer to local and state government. stuart: a lot to cover this morning so i will move on quickly. i want to talk about doctor fauci. he seems to be downplaying the possibility the covid began in the wuhan lab. listen to this. >> i do keep an open mind that it is a possibility. i think it is a very very very remote possibility. but it is a possibility. stuart: you think doctor fauci is shielding china? >> yes i do. his statements have shielded the chinese communist party and when pushing back against the lab leak theory and that theory has moved to to the foreground, what you are seeing as we were right all along.

in early 2020 when we were saying investigate the lab, where does it come from? the chinese communist party locked down the province, you could not travel somewhere else in china from there but you could go to the airport, get on a plane and fly anywhere else on the face of the earth. it should have been investigated then. it should be investigated now. stuart: i've got one more. the supreme court literally half an hour ago ruled that the ncaa illegally restricted benefits for college athletes. let's look at the big picture. do you think student-athletes should be paid and if so why? >> i have been leading on this name image like this issue for the ncaa to put rules around this. they have not, thereby many states have moved forward with addressing this issue for their student-athletes.

it is incumbent upon the ncaa and their leadership to get their act together. if they are not going to put something in place, then congress will do it for them. stuart: so pay them. marsha blackburn, thank you for being with us again. always appreciate it. going to check the stock market because we have some green. not a lot of green but the nasdaq up 60 and the dow up 67. show me bitcoin, 31,600. i call that a ninth bounce back. 29-8. >> there are buyers in the market at a certain level, the fact that you crossed back above 30,000, that might be a higher signal as well. stuart: if it crosses back -- >> demarcation is 30,000. stuart: it has to stay above 30,000 and hold if that level of it wants to get to 35, 40 or

50. >> look where the stock markets are, in positive territory, we come back on bitcoin and show the cash goes to risk assets if there is a good bargain and 3 point. >> lots of money on the sidelines coming in. how about mcdonald's? put it on screen, stock is up 3 quarters of one%. we know they are offering free vaccinations at mcdonald's. don't know where but some of them are. this is a bigger deal. what is it? >> a loyalty program for the first time ever. it only took 80 years for mcdonald's to institute it but it is a smart play the will start july 8th and it is a great retainer of customers during the pandemic. also a great way to scrape customer data. you know what they are ordering and what their orders look like and their check sizes. stuart: can you use that data? >> yes and restaurants do.

i will tell you about starbucks in a bit. this is a big deal for mcdonald's. it took him long enough and they know you love your baconator. mcdonald's is helping get jabs into the arms of americans at 70 locations so the pop up clinics will offer vaccines to mcdonald's employees and the general public and folks who get their vaccine will get a coupon for free menu items. stuart: twee 7 locations, free -- you get free food to boot. >> & up a the loyalty program july 8th. stuart: a story on krispy kreme. they are going public. again. you know the expected ipo price. >> $21-$24, ipo 26 million shares and they will use the proceeds to repay debt. this is the second time they will become a public company, by the german private equity fund jabbing 2016 for one and a

third billion. consumer brands of done well in their debuts. the oak milk provider, you take offense to the milk part. you said and over again. >> we run a dairy farm in new zealand with milk, real milk, none of this almond stuff. don't ruin my malt. krispy kreme goes public, invite them on the show, they will arrive at 500 donuts guarantee. >> we read any? >> i will take a bite. you might know something about this was cristiano rinaldo snubbed coke. that stunt prompting a new warning to the players. we will tell you what their warning was. houses across the country selling in just six days on average. even if you get your dream home

chances are you can't renovate it right away. we will tell you why.

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♪♪ going to make this place your home ♪♪ stuart: that right there is ocean city, new jersey, looking cloudy, it has some people out and about at the beach. we have the latest read on existing home sales. homes sold at an annualized rate of 5.8 million in may and it is down from the level we achieved in april. that suggests a certain's slowing down in the real estate market because there's not that many homes for sale. lauren simonetti is in new

jersey reporting on renovations which are on hold, delay. what is the problem? >> reporter: the problem is price and the problem is supply. this is what your dream backyard could look like. the cost of this, i have no idea neither does the contractor. this is what they are doing right now. the contractors are begging their suppliers to hold prices for 6 days, hold them for 10 days just so i can draw up these plans and get them to the client for approval because prices are skyrocketing. it is fast and furious. if you come over here you will see polyethylene, pvc, those prices up 213% in the past year. that is one example. how do you manage that? you do two things, number when you put a clause and we are starting to see this, in the contract, saying if my prices

go up so much, your prices are going to up a little bit to or, and this is what i hope happens, you pray that the cure for higher prices is higher prices that i've spoken to contractors coast-to-coast especially in big sprawling cities where they are having the same problem where land is not much of an issue and they are saying the number one question they get from their clients and customers is not how much is going to cost me but when can you get it done which gives builders and contractors some confidence that this boom might continue a little longer. stuart: we can but hope in new jersey, come back to new york soon. now look at starbucks. this is interesting and i don't understand it. their apps can tell if you return to the office. >> i told you early loyalty and restaurant apps in particular can mine a lot of customer and

user data. apparently the starbucks apps can tell whether you returned to the office and how do they do that? telltale signs like lineups back in stores compared to local orders at restaurants, starbucks apparently can tell if you are at the drive-through during peak hours because why would you do that if you are working from home when you can go anytime you want? you can scrape this data and drive human resources, when do you need more people, when is the best time to sell after an item, when are the best times people come into by certain items so this is a great thing. stuart: scraping the data. that is a new one. data mining i used to but scraping the data? >> same thing. data is king in these times for everybody especially with consumers, e-commerce and for sale period. stuart: everybody knows everything about everybody else.

that is the way it works. look at the markets please. we have not much price movement, the nasdaq is up 50 points was quick check of bitcoin all over the place. at one state it was down to the low 29,000 level. it has bounced 31-4 is your current quote. do you remember this? there you go, there it is, that spot, the robot dog, he has a new owner. we will tell you which car company, yes, a car company, who bought him. my next guest used to be a publisher at simon & schuster but she got fed up with the censorship of conservatives. she started her own publishing committee. she will tell us all about it and what she is publishing after this. ♪♪ looking like a little kid ♪♪ i'm still standing ♪♪ after all this time ♪♪

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stuart: empire state building 78 degrees in new york city, the markets showing little price movement. fed chair powell answering questions, he could move the

market, not much movement. the robot dog named spot. hyundai just bought its owner, boston dynamics, $1.9 billion, certainly bought the company. a new book publisher called all seasons press will cater to conservative voices that have been silenced. valerie louise burke joined me now. which conservative authors are you going to publish? >> thank you for having me on. mark meadows, chief of staff, peter navarro and james baldwin who works with rush limbaugh and covers that whole story but also heartwarming book that everyone is going to want to read. stuart: i am sure there will be

backlash against this but what can they do to you? >> we don't great for a big media company so we can't be canceled. we have been canceled. we look at it like we have an opportunity to be there for our authors through all situations. we will not abandon our office because the mob comes for them. stuart: can you guarantee that booksellers will list your books? >> we are offering our books to everyone, we believe there might be instances where a book is pulled and we have alternative plans we are working on but we will hopefully be at the major booksellers as well. stuart: can you tell me some numbers? i watch the bestseller lists and it seems to me those with a conservative bent tend to sell very well. is that the pattern you are seeing? >> yes. primarily conservative readers love to buy books.

the other thing, when you're administration is not in office we tend to sell more books because people are looking for some way to i don't want to say fight back but to read about what they want to see in the future. we will be selling a lot of books. stuart: are there any books or authors or the nature of books you would not publish? >> absolutely -- conservative deck of view know. a recent article said nobody whatever publish donald trump and we don't feel that way. we would be honored to publish donald trump. this is america. we can buy books, sell books, people don't have to read them but they should be allowed. they are allowed to publish their books, just telling someone because they are from a certain administration they can't. stuart: well said indeed. thank you for joining us. we wish you the very best of luck with this new operation, all seasons press. thank you for being with us today.

now i will transition to something different, soccer. remember when run although moved that bottle of coke off the platform? soccer stars are being warned don't snub the sponsors. this is all about run although. >> rinaldo moving those coke bottles, he's not an endorser but a muslim -- paul pogba. he objects to drinking alcohol since he is a muslim. we know that the official drink sponsor is heineken and coca-cola. the sponsors say stop moving these bottles because they are the ones putting this tournament on and why are soccer players so precious? if you look what happened at wimbledon, at the french open, not everyone is sponsored by rolex, they don't object so why

should soccer stars? stuart: you just asked me why are soccer players so precious? what do you mean by that? precious? >> what is wrong with a coca-cola bottle in a side panel of the press conference? stuart: he is a health-food net who doesn't like soda. >> and millions of dollars pegged to his name and image and one of them isn't coca-cola. stuart: is it? coke is not a sponsor of rinaldo? >> i don't think so. >> that is why he is moving the coke bottles away from his picture. stuart: so don't do it again because you're messing around with the tournament. >> other sports have huge logos everywhere and you don't have their players complaining. stuart: they are precious. do you know anything about this? drone soccer.

look at that, popular in schools. >> similar to harry potter's sport of quiditch, flying brooms, not a good analogy. you have flying drones, soccer balls, two teams of 3 to 5 trying to navigate and remove control to fly through goals, 3-minute periods, repair the drones on the field but i will say it is cardiovascular, not disoriented for the students. stuart: it is good for technology learning to do drones and that kind of thing, i fully support that. are you ready for the trivia question, here it is. what is the only us state with a spanish motto.

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stuart: we asked you this before the break, what is the only u.s. state with a spanish not toy? the answer is, montana. that is incredible. we didn't get that right. the name, montana, itself comes from the spanish word mantagna which i believe is noun taken. the motto of the state. we have a spanish speaker over in the corner. how is my accent. >> he approves. >> that is charitable. stuart: gold and silver. that is what that means. two things in abundance in

montana in the mid 1800s. my guess was new mexico, susan. susan: i guessed california. stuart: we were both wrong. quick check of the markets, not much action in stocks. bitcoin, the good news it bounced back again to the 36,600 level. how about that for a turnaround on this show. my time is up. neil, it is yours. neil: thank you, stuart, very, very much. bitcoin is not for the faint of heart. i state the obvious but does it ever have a calm day? i'm glad to be back. i'm thanking, david asman and jackie deangelis filling in too ably. job security. sometimes i think they head fake me. we have a lot going on. we're monitoring jerome powell, chairman of the federal reserve. he has been saying the darnedest things on inflation.