50% s&p coming from overseas, investors in the u.s. do not need to take on that kind of risk right now. cheryl: ron luna and sean duffy, great job both of you here, great show, really enjoyed it, that is it for me, welcome back to mr. stuart varney and also my condolences on england last night. stuart: i knew you were going to go there i knew you were going to go there, going to read from the script i won't deviate from the script at all. good morning cheryl and good morning, everyone. it is great to be back, yes i was on vacation for ten days and had a very relaxing time but i came face-to-face with inflation, no matter what the official numbers tell us i am here to tell you that prices are rising for everything, we will get into that a little bit. i came home sunday morning and watch novak djokovic and then i

watched italy beat england, very disappointing but it was great to see dramatic sporting events played from the massless crowds, i think sport one, covid lost, a lot more on that coming up, guaranteed. on the market this morning, not that much price movement that may change when the prophet reports starts to roll in and that starts tomorrow the major average close to record highs, the dow this morning will be down about 90 points of the opening bell, the s&p the nasdaq and the s&p will be down a little bit but the nasdaq will eat out a nice game almost a half a percentage point, the yield on the ten year treasury 1.34%, to me that was the big surprise on the market last week when the yield tumbled, investors believe the fed when it says inflation is transitory, a lot more on that, bitcoin as of this morning a little change,

$33500 a coin holding right around 33000. plenty of action in politics, unheard of antigovernment demonstrations throughout cuba some protesters waving american flags. cuba's communist party chief says he's going to send out his thugs to do battle in the streets, our question is where is bernie sanders, what does he have to say about the mass revolt in the socialist paradise 60 miles from miami, so far nothing. richard branson returned to earth safely, he is officially and astronaut fought but the rivalry has heated up jeff bezos says branson didn't really go into space, he takes off in his rocket later this month. monday july the 12th, 2021. "varney & company", the midsummer addition is about to begin. ♪ ♪

♪. stuart: that will wake you up, rolling stones 9:00 o'clock eastern on a monday morning and i know what were going to play right now i'm pretty sure we will roll videotape, i've no control over the producers, there you go. lauren simonetti is with us, i trust you're very happy about the italian victor yesterday. lauren: yes, even i italian goodwill, it was a good day for italy. i said to my husband who is serbian and all these parts run all day long i said stuart is back tomorrow and i'm on set with him, give me talking points and i got none. stuart: i'm disappointed

obviously, i feel so bad for that young man, he's only 19 years old, he took the penalty shot, for thin line, why on earth the manager put the young man in that position, that was a big mistake in my opinion and i felt very sorry for that guy covid-19 years old. there is a royal family, there you have that. lauren: they have been everywhere don't you think they want to cheer and wear a t-shirt not to be so royal watching all of these events. stuart: another victory standing next to each other. lauren: it gets annoying. stuart: it was a great weekend for sports, massless crowds, a lot of enthusiasm, i thought it was great. lauren: absolutely. stuart: we have to move on, we got rid of that, the next couple of hours let's get the money the dow on they're down slightly higher for the nasdaq, the ten

year treasury yield this morning is 1.324% right now. look who's here on a monday morning chasing cats the man himself should we be worried by the drop in long-term rates, to me on vacation and look like people getting out of risky stocks and getting into solid bonds, are you worried about this customer. stuart: is counterintuitive lower rates for as long as we can remember at least in the recent past has been good for stocks but last week not so much but i would not let that shake you, the tenure will be at the epicenter of what drives markets in the interim, the move higher in bond prices and lower in yields, was not a risk off trade if that were the case credit spreads would not of tightened high-yield bond would not have rallied, it was largely due to technical factors weather concerns over the delta variant

as a safety trade or some of the sovereigns covering or rather looking to hedge their currency but above all it was shorts looking to cover the bond prices that would go down. stuart: are you still in this market, were still in a bull market, prices could still go higher, do not sell at this point, low point, what do you say, is that it? >> don't go to the sky, we had a precipitous move, i think the 80% year on year growth, year-over-year is not sustainable. but when you're growing from 80 miles an hour to 60 miles an hour in terms of gdp growth that's in the right direction. you have to remain long with a ten year at 135 and earnings this year to grow 40%. i think this bull persist albeit not the same forward pace. stuart: real fast, why should i buy banks and other financial

stocks right now? >> simply put, the best and only way for most individuals to short the bond market and wager that the tenure gets a 2% is to go long financials, not to mention passing the stress test and buy back their own stock in raising dividends, evaluations are compelling there down 6% from their highs this is a good entry point ahead of earnings tomorrow. stuart: jason thank you for joining us, we appreciate it and see you again soon. let's get this straight politics if you like, former president trump went right after president biden a big tech and critical race theory during his cpac speech in dallas. watch this. >> we will defeat the radical left, the socialist, the marxist, the critical race theorist. the biden administration has turned the border into the single greatest disaster, our movement is the greatest in

american mystery and it has just begun. [cheering] stuart: look at this the former president easily won the straw poll for the 2024 gop presidential nomination he got 70% of the vote jason chaffetz who was that cpac joins us now. is donald j trump now the clear leader of the party going into 2022 and 2024. >> i think he is and i think he has been for some time. donald trump represents a lot of policy success. when he talked about a movement that truly is what it is. i really think the american people enjoy and like the policy prescriptions that donald trump put into place. and the thriving economy and other things are direct result of what donald trump did not what joe biden did.

stuart: that's not the way people see it, things are going well economically and there's a strong economy and people have a lot of money to spend they don't see that as a result of trump's policies they see as a result of the person in power at this time, i don't think president trump will get all the benefits of his policies that he deserves in 2022. that's my opinion. >> i think that is partially right, but were in a position because we have a vaccine that is out there and working, we have a regulatory scheme that was put into place by donald trump and we have lower taxes, those three things, if you take those away which is largely what joe biden wants to do he's not trying to take away a vaccine but the vaccine is there because of donald trump, will president trump get enough credit for what he's done, i don't think so but i don't think the average american is looking around and can name what joe biden has done to make a difference in their lives at this point other than spend a bunch of money. but i think that will fade, he

is fading, joe biden is not a good communicator. stuart: would you agree with this, many americans, trump supporters, really liked his policies but many americans were turned off by his persona, would you agree with that? >> i think there's far too many people who got turned off by some of the tweets and the onslaught of traditional media that went after him on many things that were totally completely false, that personality in large part for many people eclipsed the policy prescription but the success of the conservative movement of republicans in 2022 will be based on their ability to make the argument that those principles and policies far surpass what aoc and nancy pelosi and chuck schumer are advocating which is much more towards socialism then is towards america first. stuart: thank you very much for being here i know we will see

you again real soon. switching gears, back on your screen the stock price of virgin galactic it is up this morning nearly 3% after the historic spaceflight with founder richard branson he reached the edge of space and return safely. lauren, you been following this, what did branson say when he got back. lauren: i call and giddy with his excitement. let's listen. >> for all you kids i was once a child with the dream looking up to the sky for the next generation of dreamers if we can do this just imagine what you can do. lauren: they went up 53 miles inexperienced three minutes of weightlessness and they enjoyed the amazing panoramic views of earth and space. he's ushering in a new era of space tourism, could be a 3 billion market by 2030 tickets a quarter of a million dollars.

but branson wants to lower that to 40000 and guess who is a take on one of his rockets, elon musk. they are friends, billionaire pals, he's not wearing shoes so obviously they have an intimate relationship if you shoot is with someone else. branson tweeted that out, musk is going on one of his rockets before his own and then he asked jeff bezos, congratulating richard branson saying he can't wait to join the club and he takes off next week but he will go higher up he goes over 60 miles which is a big deal. but i watched this takeoff, i was on the edge of my seat, i would for maybe $40000 want to go to outer space but i did not know what to expect and then to see him of those girls dancing in the spaceship, that was cool, i think i could do it and it made it more relatable to me. stuart: it could've been you,

120,000 or millions of dollars. let's get serious for a second and cuba one white house official claims a protest on your screens are covid related, we will get into that. radio silence as far from president biden on this issue protesting cuba the columnist say higher inflation here to stay stephen moore has been sounding the alarm on this and he joins me in just a moment i have something to say about inflation. check futures right before the market opens on monday morning the winner is the nasdaq up about 70 points. back after this. ♪ ♪ ♪ us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected.

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stuart: goldman sachs may raise salaries for junior investment bankers, lauren is here to tell us why they are doing that. lauren: the first year associates make around $36000 plus they get a 37000-dollar bonus but that's about 7500 plus plus in the average on wall street i know your statement for salary was, but they don't one of those talent will be others that have raise their salaries or tech companies the other story is the culture younger bankers are complaining that their burnout, long hours, they work during the pandemic for $86000 because 37000-dollar bonus. they probably don't want to go back to the office and goldman sachs and j.p. morgan a morgan stanley are saying in september your butt is in the chair. they want to be home, what was your for salary? stuart: i was a waiter in connecticut for a dollar and 35

cents. lauren: and you didn't complain number now. stuart: no i made a lot of money in tips. with a british accent 1970 you can do well. bankers are begging their employers, let's leave new york, they want to go to fortis. lauren: they do want to go to florida, there's a waiting list of current employees wanted to transfer down there the banks don't have a recruit other workers they could just get the northeast employees to move down south that's with the requesting to do they like the weather but they like that it's safer if you're in new york city have to worry about crime the subway homelessness, that's not happening in florida, there is big demand and low taxes. stuart: there you go, that motivates. lauren: they were not as expensive outside of miami. stuart: naples in fort lauderdale. lauren: don't get me started. stuart: jacksonville, tampa. i have a headline for you,

must-read from the wall street journal, higher inflation is here to stay for years, economists forecast. stephen moore is with us this morning, i am just back from vacation, i saw inflation, when i put my hand in my pocket to buy all kinds of things, price rises were obvious, do you think that that kind of inflation is here to stay as a journal headline suggests? >> the only one that doesn't seem to think that inflation is here to stay as the fed chairman. as you look at travel prices and airline tickets and things like grocery bills, gasoline prices, they're all up were paying $3.39 a gallon for gas and it used to be $2.49, that's a huge increase. every indication right now seems to be that we will have three, four, five, 6% inflation for at least the next year or so the

only indicator is what's happening with interest rates on the ten year treasury bond, what is it 1.3, that is not suggesting long-term inflation, were getting conflicting signals but you have consumers on the street and they will tell you there paying higher prices for everything. stuart: absolutely they are, but at the same time wages are rising, wages are rising faster than any time in the last ten years. but the rise in wages canceled out by the rising prices? >> that's a great question and my answer to that, i'm in favor, let me go on record for saying that, it's a great thing when workers get paid more, the problem with the theory the biden administration with higher inflation and higher wage increases, higher inflation kills the lowest income people is a regressive tax and it kills and has a negative effect on seniors who are living on fixed

incomes in the time that they get their social security check or the dividend check is worthless because prices are so high, other people are getting killed by the labor shortage in higher inflation of the small businesses, i get so frustrated because the big business like the home depot's and amazon and the walmarts, they can afford to pay the higher wages, it's a small businesses that don't have the profit margin that are getting killed and we have about 30 million small businesses in this country under the heartbeat of america, i'm worried that the big guys are going to get bigger in the small guys will get killed by the higher wage and higher inflation cycle. stuart: i am old-fashioned i think if you pump trillions and trillions and trillions of dollars into any economy you end up with inflation and you have to give part of the blame for the inflation to the administration. you have ten seconds.

>> were exactly alike on that, the dumbest thing we can do right now given the fact prices are rising is to borrow two or $3 trillion, you may have seen over the weekend that bernie sanders is saying he will not vote for any spending bill if it doesn't have 3 trillion i didn't say 3 billion is a 3 trillion-dollar price tag if we pump all that money into the economy there is also talk about another stimulus check for people, that is helicopter money just means the dollars are worthless and prices go up more. stuart: inflation is here to stay in my opinion in your opinion. we have six and half minutes to go before the market opens a nice game for the nasdaq on the way up about .4%, coming up shortly keith fitz-gerald will join us he thinks this week's earnings will be spectacular, what do we mean by that, he joined me next.

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and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. it's time to start a new day. ask your doctor about once-daily trelegy. and save at trelegy.com. there's an america we build and one we explore. one that's been paved and one that's forever wild. but freedom means you don't have to choose just one adventure. you get both. introducing the wildly civilized all-new 3-row jeep grand cherokee l stuart: i'm smiling because that young gentleman keith fitz-gerald said earnings season is going to be absolutely great, the best since 2009.

i was gonna say make your case but i'm not going to ask that, i'm going to tell you that those huge earnings gains are already factored into the market and there's great danger if some of the expectations are not met, how about that for an opening statement. >> i tell you what that's a good one but there's no debate for me there's always risk when markets are going up into thin air, the question in the nuance we need to get to his quality matters in the right company matters, if you think a company like j.p. morgan for example which is the undisputed king of the heavyweight when it comes to digital money and all things financial, they will do great but a company that mrs. may later or some other lesser-known technology company those of the stock that will get punished because investors will gravitate to the companies that perform well. stuart: many of the analysts to appear on this program say it'll

be a bonanza earnings season with profits up 60 or even 70% in this period compared to the same period last year, are you on board with 60 - 70% profit rise? >> sim, my calculations suggest it might even be 75% cyclicals may come in at 100 plus percent and industrial at 300 plus percent, big tech 35%, i think these numbers will the outrageous and we can hold them. stuart: i been talking about inflation on the show because i'm back from vacation i been paying a lot of money for all kinds of items, do corporations have pricing power and is that why profits should be very good? >> again the right corporation has a rise in power because this is like big tech for example that could expand and maintain their margins even if the economy slows down or prices go higher people will not give up a new iphone but they will stop

buying a loaf of bread, there will be real strain contradictions that come forward as inflation increases, i think the fed messed up terribly in jerome powell is off the plot and i don't think he gets it. stuart: we will see what happens. i'm expecting earnings and you're not going to be selling much in the near future. thank you for joining us, see you again soon, three seconds to go only open up the market this monday morning, were often running from the start and were down not that much. the dow industrial up 50 points, that is nothing, a level at 34800. about two thirds of the dow are in the red in our one third in the green, down 57 points after 20 seconds worth of business that s&p 500 open right at a new all-time high and drop back a little bit were up one point, 4367 the nasdaq on the upside, quarter percentage point most of

31% 42 points higher look at that level or teen thousand 700, big banks all of them on the downside this morning, big tech, where are they this morning probably on the upside, all of them on the upside headed by microsoft at 279.39. about richard branson successful spaceflight that's what it did for virgin galactic, the stock is up 2% 50 bucks a share, let's move on to tesla slightly higher from the opening bell, up over 1%, elon musk goes on trial today in delaware is be through the 2.6 solar cities, remember that in 2016 he said charger car and will put solar panels on your roof, same company the shareholders allege that elon musk led them to pay for the deal there expense and if he loses today he will have to pay likely to billion dollars personally, there is no jury, judge will decide his fate.

stuart: is the in court, swearingen and all, he does that, you don't often see a billionaire take the stand. lauren: is $2 billion a lot for a billionaire to pay. stuart: i'm sure not. lauren: could he of paid it and avoid court, i would've done that if i was him. stuart: he's in court today to plead his case. the next one united airline, united is down a dollar at 50 and they are preparing for winter travel and they're adding 150 new daily flights to sunny locations in the u.s., new mexico, the caribbean and they fly during the colder months, 30% increase in service compared to 2019 pre-covid. i have to tell you, i don't think international travel is coming back anytime soon, business travel, not that much so soon and i'm not convinced that all of those will be flying again privately personally just like we did before covid.

lauren: i don't think that we can, i think price tags of gotten really expensive and is good to be jampacked on a flight, people are reported that there's no empty seats whatsoever. if you have an issue with the airline and have to get them on jets. you can go as you please and it's a lot easier people with the wherewithal are able to do that but the united ceo says business travel is not coming back until 2023 so that is in time. stuart: we have the cruise lines there mostly lower, except for disney, cruise lines are down, they're always up and down what is the problem today. lauren: the problem with the cruise lines is the idea is a reopening trade, there is pent-up demand and people might want to take a cruise again but then you worry about the delta variance, the push and pull between what people are

comfortable doing in the cruise lines allowed to do their up 10% which is not much but they had a tough 2020 and a tough time getting back. stuart: carnival at $23 a share, row caribbean. stuart: i don't like cruises anyways. i'm not a cruise type. cheesecake factory, they are up 2.7%, raymond james upgraded them said there now performer they said the market underestimated the comeback for full-service restaurant they get big portions. lauren: that's why you like them so yup food through the week, take it home and eat your bread sticks monday through friday. i actually have not been to too many restaurants. i don't know because i do what it takes three kids to a restaurant, three kids mills are expensive and they don't eat

anything and then we get home and they wanted peanut butter sandwich. stuart: later on i'm going to tell the audience it cost me $5 for a single scoop of vanilla ice cream served in a paper cup with no sprinkles. lauren: did you tip. stuart: in a matter of fact i did speaker is not the workers fault that that cost that. stuart: we will get more on that later. talk about amc, is a down today, yes born half percent, what is the problem there. lauren: no news on these stocks today, some of the big hedge funds lost a lot of money on amc and game stocks and others year to date if you look at melvin and maple lane third down 40 - 45% but amc particular are down. stuart: the classic means stocks that are not getting the interest that they used to have, let's have a look at the dow winners, as you know others 30 stocks that make up the dow industrial average the top performer is disney it did have a successful film. lauren: black widow, there's a lot to watch as we can.

stuart: sports, black widow. lauren: $30 extra to see you, a lot of people pay that will see if disney continues to do that with other releases. stuart: those are the dow winners, how about the s&p 500 winners headed, tesla is in second place, nc, lamb and nasdaq with us on our screen headed by tesla, $675 a share of 2.8%. check the big board over all, the dow is down 55 points, the level is 34819 the ten year treasury yield 1.34% gold, i better wait for ten days, $1800 per ounce on the button, bitcoin 33000 bucks a coin, 33400 to be precise and oil $73 a barrel right where it was before i left

vacation. socialist democrats, bernie sanders violet over the protest of rocking in cuba, are we surprised remember when he said this about the communist regime. >> everything is met when he came into office, when he did he had a massive literacy program, is that a bad thing. stuart: where is president biden why isn't he speaking out about what's on your screen now, protesting cuba, bill gates gave a speech demanding more from action on climate change his audience was a group of billionaires who flew into sun valley on their private jets, we have that story. we will be back. ♪

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♪ i like the way you move ♪ ♪ i like the way you move ♪ ♪. stuart: you can't quite see it in the fog and the mist is a statue of liberty in new york city it looks like overcast with rain to come that is new york as of now back to the market, we have the nasdaq in the s&p both hit all-time highs earlier today in the nasdaq by the way has been up for the last eight straight weeks, how about that it's quite a performance from the nasdaq, with us is jeff seeker who sees more new highs for the market still become, jeff, spell it out, make the case, more new highs. >> what i see yes you're starting to hear a lot of people with expectation that were going to see good earnings but what i see is the expectation going into the quarter that is

relatively low in the evidence of that 56 companies that raised expectation going into this quarter, there's normally only point to and normally you have a lot more companies that are on the downside, maybe the expectation coming out of the pandemic are a little low and now are going to see numbers that are going to reflect for civil very, very strong continuous spending which drives the market that's what leads me too believe that i have to ride this wave where it takes me because we have a little bit more to go on. stuart: covid no longer a threat, huge profits coming, massive spending all propping up a market that's going to go higher, hold on for a second, i want to segue to something else we have the box office numbers, the black widow debuted this week is a disney movie, disney+, does it look like people are

going back to the theaters. lauren: when there's something to see, this had a lot of buildup for this series, at the domestic box office, pandemic record 80 million, 78 million on top of that if you do the international sales and additional $60 million from disney+ sales or charge $30 this is the first time disney is sharing data raising the question do they continue to do this with other movies a movie can do well in the real movie theaters and then have the streaming component as well and you can evergreen slam in the box office. stuart: jeff sica come back in again this is a hybrid model, that's what i'm going to call it it's released as a streaming product and released in the theaters at the same time do you think this is the new normal? >> it absolutely is the new normal, keep in mind i'm a comic book nerd this is very, very anticipated for people like me, one thing you'll find about the

hybrid model is disney can do it i don't know if other companies can do it disney will have a simultaneous release on streaming and theatrical release because they own the best content in the industry they are going to be putting out a lot of content from movies like black widow and when that happened you have the people who want to go to the movie and pete entered excretes a marvel movie and theater which is a great experience or stay home and stream it in their charging $30 to watch at home which is significantly more than it costs to go see the movie and a lot of people last night know the disney was able to get a lot of new subscribers so that's making money three separate ways and what you will see would black widow you will see at least

three movies coming out a black widow and a lot of the minor power curve introduced coming out a black widow all through the hybrid model, let's see every company is going to try it netflix, hbo, they're gonna have mixed results in disney mastered it this film if you look at the numbers this is in the top 30 of all times. this shattered all records for release like this. >> i have 30 seconds left jeff zika did you watch italy beat england? >> i absolutely did and as an italian it was a very happy moment, i actually woke up this morning and was very afraid you would be mad at me. but stuart, i watched it, great moment for italy and the italian flag is flying over my house.

stuart: really, you fly the italian flag in america, new jersey, good lord. >> right next to the merc confine, it's a heritage thing, let's face it soccer, italy is a big deal, i'm not the biggest soccer fan. sorry about england it was a great game. stuart: soccer came out the winner, that's england scoring the first goal, it did not last are we going to show the poor young man the italians equalizing and i bet we will see are we going to see the penalty missed. were out of time, they're trying to find it were going to show you the penalty missed, and promise you, we missed it, out of time, that's the way live television goes, here we go, i feel so bad for that young man 19 years old, he missed the kick and he will get the blame. a terrible thing.

a great player by the way. jeff, you are released from your position. [laughter] look at this they just sold a diamond for 12 yen dollars worth of crypto that was the most expensive digital currency transaction ever. lauren: for jewelry it was 101 carrots stone accepted the coinbase the record crypto transaction was actually more with the physical artwork $12.901 million carrots, what you do with that. lauren: you can't wear it, what type of crypto currency will you ask, we knew some of these except for queener either, it was one of those coinbase the exchanges down $5. stuart: 12 million. dr. fauci he thinks there should be more vaccine mandates at the local level, how does america feel about that all asked doctor

marty mccarthy internet our. vice president kamala harris ridiculed for claiming role voters cannot photocopy their ids. >> there's a whole lot of people especially people who live in rural communities, there is no kinko's and officemax. >> i don't believe our vice president is not much in touch with rural america. will be back ♪ ♪ ♪ ♪

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patrick joines is now he think the average price for a gallon of regular will go up another 20 cents over the summer. why so much, make your case. >> i think i'm backing off a little bit i said 5 - 10 cents, demand continues to go up july 4 is coming on, we saw a very high demand, last week the eia printed out implied demand of over 10 million barrels and all-time record since they started tracking the data back in 1991. by all measures demand was off the charts and i'm starting to feel like were getting closer to the eighth or ninth inning of

the gas price rally there's more room to go but i think were just about there and look at the latest demand numbers we may see prices start to stabilize you mentioned oil $73 down from 77 there is some aspects we could see oil prices go back down below $70 if we take some of those out which is a possibility. stuart: is there a problem with the supply and oil from america we hear about pipelines being closed was shut down with anti-fossil fuel movement in the administration were restricting the supply of oil from the united states does that have to do with the rising price of gasoline? >> i think the anti-fossil fuel movement is more of it you look is decent california and new york by divesting that fossil

fuel publicly traded companies, that is reviewed those companies from bringing production back online or changing the agenda and were still about 2 quadrillion euros a day lower from pre-covid production which last week eia rat 11-point to million a day per production, absolutely i think the anti-fossil feel movement has something to do with how quickly or how slowly oil companies are ramping backup and amongst opec members are still out there the uae and saudi arabia fighting back and forth for the foundation. stuart: we will look at the price of gasoline, $3.15. patrick, thank you, we appreciate it. still ahead on the program, donald trump, kt mcfarland, steve forbes, the second hour of earning next. ♪ different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on

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♪. stuart: the late, great, tom petty. always good stuff. we like to play the beatles, rolling stones and yes, as much tom petty as we possibly can. 10:00 eastern. let's get straight to your money the market has been open exactly a half hour. the nasdaq now in retreat but only to the tune of six points. the 10-year treasury yield,

1.35% as of right now. how about that? earnings season kicks off this week. the big banks will be the first to report. they actually start to roll out the earnings reports tomorrow as a matter of fact. in advance of that all the big banks are on the upside as of this morning. now this. >> where's bernie sanders? where is aoc and "the squad"? their fellow socialists in cuba are in revolt. not against the evils of capitalism. no, but the failure of socialism. what have we got here? silence from america's left. over the weekend demonstrations broke out in more than 30 towns and cities all across cuba. street violence in havana. some protesters waved american flags. whoa, that is serious stuff in a communist society and the authorities predictably called out their thugs. party chief miguel diaz says

order for to fight has been given. into the streets revolutionaries. sounds like 40 years ago. this is not good news for the biden administration. they're trying to blame covid for the protests. that is really lame. the people on the streets are shouting freedom. after 60 odd years of repression they have had enough. the cubans are giving us a window into the workings of socialism. just as bernie is working overtime to introduce socialism here. think this through? will we see a new wave of asylum-seekers from cuba or haiti, a failed state a boat i'd ride away. are we about to see another migrant wave? think this through too. bernie and the far left want to make america more like cuba. but more cubans want to be more like americans. how does bernie square that? how will the biden-harris team, respond? my guess, they will blame trump.

second hour of "varney & company" about to begin. ♪ stuart: vice president harris facing backlash for saying rural voters have a hard time photocopying their i.d.s. listen to this. >> you're going to have to, um, xerox or photo copy your i.d. to send in for proof who you are. a whole lot of people, es is eggsly people live in rural communities, there is no kinko's, there is no officemax near them. of course people have to prove who they are, but not in a way that makes it almost impossible for them to prove who they are. stuart: look who is here? lara trump joins me now. i'm smiling. i don't know why. why don't you take that on. rural voters have a hard time

photocopying their i.d.s, says the vice president of the united states. take that on, lara. >> you're probably smiling because you're laughing along with the rest of us how ridiculous a notion this is. first of all what is photocopying, xeroxing, i.d. have to do with any of this? the answer is almost nothing. this is almost like her answer, when she was asked, stuart, why she had not gone down to the southern border. well, i haven't gone down to europe. that has not anything to do with the question you're asked. you're trying to move past it and do a lot of jazz hands. this is ridiculous notion to show you how out of touch this vice president is with average americans, with people that live in the middle of our country, that they would need, first of all, they can't get a printer, a copying machine, like are you kidding me? what a ridiculous idea. but they're desperate because somehow stay on this i.d. that having an i.d. is a bad thing.

you have to have an i.d. to do just about anything in america. if you drive, you have to have one. if you get on an airplane you have got to have one. if you want to buy alcohol, tobacco, just about anything these days you have to have an i.d. they're desperate to get this i.d.s are bad things, they want a free-for-all at the voting booth. they want people illegally in america, stuart to be able to vote. they have been called on it. now they're trying to tell it has to do with people not having printers and copying machines, absurd. stuart: absurd indeed. another one for you, lara, real serious stuff here. critical race theory, it was a major topic of the cpac meeting this weekend. look at this for a second. roll tape. >> the democrat obsession with race is only dragging us backward into the past and it is bringing our country down to a point where even china and russia are lecturing us on human rights. we teach the truth about our

history. we celebrate our rich heritage and national traditions. we honor george washington, thomas jefferson, abraham lincoln and all of our national heroes. stuart: former president vowed to defeat critical race theory. lara, how does he plan to do that? >> well i think first and foremost we need to make sure we take back the house and the senate in 22. we need to have strong republicans pushing back against such a dangerous idea, such a dangerous thing to be teaching our children. look at the basis of critical race theory. it's a marxist idea. the idea that we should teach our children first of all, to hate our country. people who are pushing this theory know if you hate your country, you are not willing to stand up and fight for it. if you hate one another, which is does teach us to do that, it divides people based on the color of their skin. it's a very dangerous, very poisonous notion to be teaching

our children. we should always be teaching that you judge people only based on the content of their character. should have nothing to do with how they look with the color of their skin. that is not what critical race theory does of the it is a disgusting idea. it should never be taught to our children. we need people in positions of power who will stand up to say enough is enough. we're not going to poison our future generations with this idea because they know the marxists who are pushing this, know if you divide americans you teach us to hate our country. we'll not stand and fight for it. it is a scary slippery slope from there, stuart. stuart: lara thanks for joining us this morning. always appreciate it. we hope to see you again real soon. thank you very much. >> thank you. stuart: back to the markets this monday morning, open for 37 minutes. it is a picked picture but the now is up 100 points. dennis gartman joins us. earnings season kicks off this

week. big banks coming out first of all. a lot of analysts say it will be the best profit season for what, 11, 12 years. what do you say to that. >> it is going to be. first of all, i'm proud to follow a fellow north carolina state alum, lara trump on your program. we're both proud to be alumni of the great north carolina state university. as far as earnings are concerned this will ablowout quarter, no question about it. the banks will enjoy a positive slope to the yield curve, grade trading volumes. anybody who believes there will be slowdown in earnings this quarter, perhaps next quarters is wrong. it has been a blockbuster. it is going to be that way. stock prices still want to go higher. stuart: that was my question, if you get such fantastic profit reports and profits are the baseline for stocks prices surely we'll see stock prices go up some more. you answered the question. we'll still see some more highs but what about inflation? we got this group of economists in "the wall street journal" saying that inflation is here to

stay for years. now that's a downer for the market, isn't it? >> well, not necessarily. some of the great bull markets in history have come from great inflationary circumstances. the greatest bull market in the world last year, the two greatest were actually in venezuela and zimbabwe which had extraordinary inflation numbers. you don't want to see inflation go more than 2 or 3%. we probably shall not see that hope over the course of the next several years. moderate inflation is usually supportive of stock prices. say right now we'll have moderate inflation. i'm one of the believers, what we've seen is the explosion in the monetary aggregates which means inflation will be with us some period of time. inflation is always and everywhere a monetary phenomenon. there are exigencies about trade disruptionses that caused some price increases but on balance we'll see problems with inflation for the next several years. as long as it didn't get above 3 or 4% on a protracted basis that

is supportive of share prices. hard to believe, but that is the reality. stuart: bottom line, not too concerned about stock prices even at these lofty highs, as we head through the summer, that that the much of a concern. >> it is amazing. every time i fight it i was wrong. every time i joined it i it was right. going from the lower left to the upper right. mark it down, it will go until it stops. that is truism. stuart: thanks, dennis, thank you very much. >> thanks, my friend. stuart: lauren watching the market. have you got movers for us? oh, didi down again. lauren: 11.36. ipoed at 14 bucks a couple days ago. china ordered them to take down 25 more apps operated by didi that will likely impact their revenue overall. where is the recovery from shareholders that got hammered? what happens from the pipeline of ipos from china?

tencent music, reports china is ordering them to exclusive rights of labels. beijing is continuing to curb economic and session power of their tech giants all in the name of control. we'll see a lot of activity. stuart: should anybody be investing in chinese companies when there is this kind of thing hanging over them. lauren: could not agree more. there are 30 or so in the pipeline. i wonder what happens to them. what happens in didi's case to the bankers who underwrote the deal? did they know this was a real risk for shareholders. lawsuits will start to pile up. stuart: i think you're right. i smell lawsuits. do tell me about cheesecake factory. >> because you like to take home leftovers stuart. they were upgraded to outperform by raymond james to 60-dollar price target. casual dining is coming back. stuart: i'm thrifty. tell me about microsoft. you got to the story. lauren: reportedly buying a cybersecurity company called

risk i.q. $500 million in cash. ammunition from cyberattacks. everyone moving to the cloud working from home. that is where the hackers are. clients for risk i.q., american express, the post office, facebook. microsoft too wants to beef up security for windows and their cloud. last month they bought affirm labs. they're spending a lot of money this space. stuart: they have $100 billion in cash. more than that. buy what they want. couple countries maybe. billionaires, this is my story. billionaires flocked to sun valley. big topic, climate change. and i'm seeing a line of private jets lined up, same old, same old. lauren: it is same old. it was really bad this year. they had to avoid air congestion. the faa wouldn't let the planes from the west coast where the billionaires live, from west coast as far as michigan come into the idaho mountains to park a plane basically next to a cow. because it was too jammed.

they had to stall a lot of them. this is billionaire summer camp for all the rich people. whether mike bloomberg, jeff bezos, even bill gates. it is funny they give these speeches on combating climate change and they still take a private jet. we do this story every single year. it doesn't change. one of bill gates' excuses is i use clean jet fuel in my private jet. stuart: where is aoc, with are is bernie sanders? they dislike intensely having billionaires. both of them are climate change people, the billionaires are climate change people. what a mess. lauren: change the location of the allen and co sun valley conference so they can get there easier. stuart: maybe drive there. lauren: they will never drive there or take commercial. private jets no matter what. stuart: reading the prompter. one cnn commentator shaming americans for not getting the vaccine.

let me take a look at that roll it. >> it needs to be hard for people to remain unvaccinated. right now it is kind of the open sit. stuart: we will tell you what she is proposing. we've got that story for you. plus, bezos taking a shot at fellow billionaire branson. we'll tell you what he said. a little rivalry there. democrat socialist bernie sanders silent on mass protests in cuba. he wasn't so silent about the country's communism last year. here is what he said last year. roll it. oh, we don't have that piece of tape for but we will have kt mcfarland commenting on it after this. ♪

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he had a massive literacy program. is that a bad thing even though fidel castro did it? stuart: kt mcfar lan joins me now. what do you actually think what do you think the administration's response to these protests in cuba should be? >> support them. he is these are pro-democracy protesters. they want an open economy. these people want the democratic process and if you look at the demonstrators, pictures you showed are really stunning. how ol' are most of those people, 20s, 30s, they're not in their 70s. bernie sanders is talking about a revenues that happened 60 years ago. those people weren't even born at that point. cubans have 60 years of incompetent management and their economy is in trouble. their social services are nonexistent, because of covid and lockdowns, nobody is traveling to cuba. they're really worst of all the cubans have so mishandled covid

and the pandemic. they turned down everybody's vaccines. we're socialist cuba. we'll make our own vaccine. they have tried. not very good. so they now have massively high infection rates. stuart: i got a dollar, kt, that says the administration will blame trump for what is happening in cuba, on the grounds trump imposed sanctions when cuba did that, that and other with venezuela. they will blame trump. what do you think? >> i'm trying to think how they will do that. that is the default of the biden administration. they will not support democracy and free markets, they will elect to blame donald trump. i think you're right, they will somehow figure out a way to blame donald trump. reality the majority of cuban people had it with socialism. only people that want socialism in these countries is the united states congress. eventually, eventually, here is the other thing because of

connections between cuba and the united states, the cuban people, they now know how bad their lives are. previously they didn't have that kind of access to western communications, western technology, american technology. now they see, why are my cousins in miami living so much better than i am? i do think that this revolution, i think you're seeing actually the beginning of a broad-based national movement in cuba to overthrow communism. will take a while. but i think it is there. stuart: that is fascinating. i want to bring up the situation in haiti, some developments. haiti's police chief suggest a florida-based doctor, arrested in the killing of the country's president, he wants to assume the presidency. that is what the police chief is saying. the administration is sending a team to investigate. not military assistance. but the real problem seems to me to be what happens if there is a mass exodus from haiti? are we going to willingly bring lots of haitians in america? more cubans into america?

more folks from latin america and central america in this is crisis for the administration. >> this is the sad thing about haiti, nobody is in charge. rival gangs are fighting each other. no effective of the leader, the guy who was supposed to take president himself died of covid himself. it is complete lawlessness. they are saying send in the troops. we have no business sending american forces in the middle of the civil war even countrymen themselves can't figure out. i think you're right, the end result of this, the biden administration believes in open borders at all, look at southern border of mexico, they will say come on in. then we have a even bigger economic problem in the united states. stuart: i think so. kt, always a pleasure. come see us again soon. please, thanks very much. >> thanks, stu. stuart: sure thing. i want to get more on the condo collapse in florida.

we have an update. lauren, what do we have. lauren: some closure for those families, right? the search operation shifted to recovery. the death toll rising to 90. 31 still lost in that rubble unaccounted for. there are no words. 217 have been accounted for. after more than two weeks of searching, because that tower came down on june 24th, look at this, the israeli against force, that delegation helped outgoing through millions and millions of pounds of rubble, they got a well deserved military salute for their hope. stuart: good. that's good. lauren: that is their plane taking off going back to israel. stuart: show gratitude for folks helping out. we appreciate that. good stuff. next case, extreme heat sparking a lot of wildfires in western states. how many states are affected? lauren: six states. 300,000-acres have been burned. two dozen firefighters lost their lives. no relief for a couple days.

bootleg fire in oregon doubled size. i don't think it is contained at all. stuart: six states. lauren: six states affected here. stuart: i will put it here on the screen. is the best men's tennis player of all time, that is the question after novak djokovic won his 20th grand slam victory. the highlights coming up. first when it comes to vaccine mandates dr. fauci is all for them. roll tape. >> there should be more mandates, there really should be. we're talking about life and death situation. stuart: i will ask infectious disease dr. matt mccarthy what he thinks about that after this. ♪

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(naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to? (naj) no, we do it because it's the right thing to do. we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility. (naj) one that we don't take lightly. it's why our fees are structured so we do better when our clients do better. fisher investments is clearly different. >> i have been on of this opinion i remain of that opinion i do believe at the local level, jake, there should be more mandates. there really should be. we're talking about life and death situation. we have lost 600,000 americans already. stuart: all right.

more local vaccine mandates. that is from dr. fauci. let's bring in dr. matt mccarthy. where do you stand, doctor, should we be forced to give the vaccine, children going to school, students crowing you'll going to college, employees back to the office. mandatory vaccines, yes or no? >> we also see, we can hear the urgency in dr. fauci's voice. places with low vaccination rates the delta variant is taking over. there are a few things we can do to before the mandates. we don't see fda approval for the three vaccines we use in the united states. this is baffling. pfizer applied for full approval on may 7th. moderna applied on june 1st. we have no explanation for the hold-up. hundreds of millions of people who received the vaccines with, excellent safety data, excellent efficacy data and the fda has

not approved these. if you survey people unvaccinated, at least a third of them if we could get full approval i would get the vaccine today. that is something that has got to happen before we get the mandates. the second thing is, we have to shift the conversation from the government imposing this mandatory vaccine on you to having a conversation between doctor and patient, making it easier for primary care clinics and hospitals to give vaccines to people. i think we're starting to do a better job. the third thing we've got to do, we got to stop talking about these third booster shots. there is no evidence that an average person on the street who has been vaccinated need too get a third dose of pfizer's vaccine right now. i'm glad the cdc and fda came out and said that we need to ham they're point home. i think a lot of people on the fence, if these things really work why am i being told i need a third one? there are several things we can do before we get to the mandate question. stuart: there is some confusion

which you could work this out for us. the wormed health organization recommends that vaccinated people still wear masks indoors. the cdc does not share that opinion. who should we be listening to? >> yeah. this is one of the most common questions i get from people. they will text me, they say, do i need to wear a mask when i go to the movies? do i need a mask when i go to the subway? what's the deal? the deal is that the w.h.o. and the cdc are speaking to two totally different audiences. the world health organization is speaking to the world, a world that uses all sorts of different vaccines. some have more efficacy than others. some places they're addressing are in crisis, are having a dramatic increase in the number of covid cases and hospitals that are in crisis. the cdc by contrast is speaking to a very different audience. they're talking to americans. americans who have access to three excellent vaccines from

moderna, pfizer and johnson & johnson. we have seen that these vaccines decrease your risk for getting really sick and being hospitalized and dying. they also decrease your risk of transmitting the virus. so the cdc has stood by their assessment which is, if you have been fully vaccinated, you do not need to wear a mask indoors in most circumstances. that's why you see two different guide lines. because there are two different audiences. now the interesting part here that some local areas are starting to deviate from the cdc. los angeles county recently came out, said you know, we actually think you should wear a mask indoors. that is not the recommendation from the cdc and i will emphasize, that the fact remains, if you are fully vaccinated with one of the three authorized vaccines in the united states, you do not need to wear a mask indoors in most circumstances. you see this discrepancy adding to more confusion but the message here today we've got to do a lot more to get people

excited about vaccination before we go and mandate it on people. stuart: doctor, you cleared it up. we appreciate that. dr. mccarthy, we'll see you again real soon. thank you. >> thank you. stuart: now this, a cnn medical analyst says, quote, life needs to be hard for unvaccinated americans. what is that all about, lauren? lauren: making life so inconvenient you're ultimately forced to roll up your sleeve. let's listen. >> needs to be hard for people to remain unvaccinated. right now it is kind of the opposite but at some point these mandates by work places, by schools, i think it will be important to say you can opt out, if you want to opt out you have to sign these forms. you have to get twice weekly testing. we need to make getting vaccinated the easy choice. lauren: right now more or less an honor system. life is relatively normal for the unvaccinated and vaccinated. she wants to change that. so it is an inconvenience also may be repercussion if you decide you are eligible to be vaccinated but you just choose

not to. will there be repercussions? stuart: i think there will be. we've been pushed into it, in schools, colleges and some big offices. >> the script will change when there is vaccine for young children. many parents say absolutely not. stuart: that will be a fight 1/2. all right. let's look at pfizer, please, the stock. i keep making a comment it rarely gets to $40 a share. it made it now, only just 40.16 is the price right now. pfizer is talking with health officials about this vaccine booster. we should tell you, you may be listened to dr. mccarthy a moment ago, he doesn't like all this talk about a booster shot but one is available in some other countries. so where is the booster available? lauren: israel. they started giving their at risk citizens a third shot, they're debating whether to open it up to the general population. we just heard from the doctor, he said look, a third jab basically reduces confidence in the protection you get from the

first two. stuart: yep. lauren: you're looking at pfizer $40.18 a share. the booster market is tremendous for the drug companies. i think shareholders will want a third shot at some point. but basically the argument is, that you lose immunity six months after you're vaccinated. so the third jab gives you more protection, some cases five, tenfold more protection after the second jab. stuart: the doctor is right though. if you say to somebody you might need a booster, who knows what after this, might not be inclined to get the vaccination in the first place. lauren: he made an excellent point. stuart: he did. thanks, so much, lauren. still to come on this program, nation's largest amusement parks are battling labor shortages. he runs 25 a musement parks. offering all kinds of perks to get people back on the job. i will ask him if it is working. italy taking at euro 2020 title after the dramatic penalty

shootout. >> he has to score here to keep england alive. he doesn't. italy are champions of europe! stuart: oh, what a day. we got the highlights and my reaction to england's loss right after this. ♪. we are thrilled we finally found our dream home in the mountains. the views are great, the air is fresh. (sfx: branches rustle) it is bear country though. hey boo-boo! we hit the jackpot! bear! bear! bear! look, corn on the cob!

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♪. stuart: check those markets, please. we are up. there is plenty of green this morning. at least there is now. dow is up 128, nasdaq eking out a small gain, new record high for the s&p 500. then there was sunday. ah, what a great day for post-covid sport. novak djokovic won his 20th grand slam event. what an achievement.

he beat italy's wenitini to tie roger federer and rafael nadal for grand slam wins. it had everything including a largely maskless crowd. i loved every second of it. a terrific final to the euro 2020. england scored first. you foreyaw was popular. italy equalized. it went to extra time. they were still tied. then the penalty kick shootout. my heart went out to the 19-year-old english player, he is about to take it, 19 years old, he missed and that gave italy the title. england, the whole country was stunned and people are wondering why is it that a 19-year-old with very little experience had to take that all-important kick? who made that mistake? was it a mistake. lauren, you got a lot to talk about.

lauren: if he made, he made it. stuart: start with tennis. lauren: yes. stuart: tell me about the gain. lauren: djokovic won wimbledon. his 20th grand slam. he tied the great federer and gnat dal. >> oh. >> [cheering] >> he has done it. major title number 20. lauren: over bertini who was nine years younger than him. in interviews afterward, djokovic seemed humble to be honored bit greats. he usually loses his composure, he really does. even after he lost the first set. he composed himself. he was so mature. i was impressed what i heard from him especially after the match, i really was. next up -- yeah. stuart: he goes to the tokyo olympics maybe. lauren: maybe. stuart: has problems with the restrictions.

u.s. open in new york. lauren: if he wins all four. only one other tennis player to win all four titles. stuart: that's correct, in the modern era. ms. simonetti italian last name, if i'm not mistaken. tell me about great victory. lauren: where is ashley webster. he could talk about this with you. i did watch the game. i was shocked because england played at home and they lost a home game. i felt sorry for them. but i am italian, so i was very proud, very proud. and i will let you take us through everything that we're watching. stuart: okay. what you see now, this is the equalizer coming up i think. yes. scramble in front of the goal. yep, the equalize, that is the equalizer. as i said it goes to extra time. that is extra 15 minutes of play each way. after that half hour they were all tied up still. so you have to go to the penalty kick shootout, which we may or may not get to at any moment.

it will take a while -- >> he has got to score here. stuart: here we go. we see this, feels so bad for that young man. he is only 19 years old. what was england's coach, southgate, what was he doing, putting in that man to take -- lauren: has anyone asked him that? stuart: i'm sure everyone has. lauren: in interviews? stuart: that is the first thing everybody thought b why did you put the man in the position. lauren: had he made it, had he made it? stuart: it would have only tied things up. it would be three more penalty shots for each side. lauren: i do appreciate it. it was my story. i was unable to do it. and, ashley would have been a better, you know, contend here. he is not here today. stuart: wait a minute. the bottom line was, that was real drama. that made soccer look really, really good. how often do you get the dramatic moments in baseball or hockey? you don't. but at that level, so we got to

go. lauren: so passionate. stuart: i thought it was great. lauren: i share your, i felt like you when i was watching wimbledon. sorry, that is more my sport. stuart: producer said, guaranteed to get me more time next hour. lauren: okay. get a sports reporter. stuart: look at this, look at this, outrage after a black lives matter group calls the american flag a symbol of hate. leo terrell has something to say about that. he is next. first, you need to take your own space trip? don't want to shell out money to branson or bezos? i'm talking to the company that is selling balloon rides to the stratosphere. they will join us after this. ♪ i'm a space cowboy, bet you weren't ready for that ♪ as i obe risk and reward, i see one element securing portfolios, time after time. gold.

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yesterday. that is where our own jeff paul is now. jeff a minor point here, is it true that richard branson rode a bike to the launch site? reporter: inappears he rode his bike to the launch site, got suited up. got into his space plane and took off towards the levens. while his time in space, or the edges of space only lasted about 15 minutes, it will certainly be remembered in the history books, partly because it is the first time a privately-owned rocket company launched its founder into space, marking a huge step for the future of astro tourism. >> three, two, one, release, release, release. clean release. ignition. good rocket motor burn. there is mach one, trimming now. reporter: now that moment that you just saw there whether vss unity detached from the mothership was followed by the

space plane roaring up to mach three. that is three times the speed of sound, after reaching more than 50 miles above earth, branson and his five other crewmembers unbuckled, not only got an impressive view of the planet but experienced the weightlessness of space. they began their descent, landing at the spaceport in new mexico. the entire journey lasted 90 minutes. branson just shy of turning 71 years old. he said it was a childhood dream come true, years and years of work finally paying for off for the billionaire. the journey changed him. >> i will spend the next 20 or 30 years of my life doing everything i can with all our resources to better this world and, most of the other 500 people who have been to space come back, thinking look at this spectacular world. let's see what we can do to

protect the rainforest, protect the oceans and animals, species and so forth. reporter: branson's successful flight signals he feels he is safe to get on one of the virgin galactic space planes to get the journey to space. so far 600 other people want to do the same with virgin galactic to the tune of $650,000 per ticket. virgin is not alone in the market. jeff bezos in neighboring west texas is hoping to do the same thing with his company blue origin. stuart. stuart: thank you. jeff bezos' blue origin is calling out richard branson's virgin galactic, they say branson didn't riley go into space. the founder, co-ceo of space perspective joins me now. taber is the guy with the balloon that takes you to the edge of space. that is as far as you go, isn't

it? you don't actually go into space in your balloon, do you? >> you have to figure out. everyone has their own definition of space, right? we figured that last 1% of the earth's atmosphere that extends past the space station 1000 miles into space for all intents and purposes, that is for us the edge of space. that starts at about 30 kilometers. in my book branson was well into space. these arguments who is in space and who is not are really just guys trying to make a point. stuart: if i go up in your balloon, i believe it seats eight passengers plus one pilot, it is $125,000 per person, do i get to experience weightlessness? >> no. you don't have to experience weightlessness. you can go do that on a plane ride. this is a very gentle, we go up at whiles miles-an-hour ride. it take a six hour flight to the

edge of space. you can see the amazing earth, blackness of space. so, no, weightlessness, no hypersonic, no gs, this is the slow, gentle way to go. stuart: so you have got eight passengers, that is your capacity, plus the pilot. and i understand that you sold a lot of tickets. in fact i think you sold out all the way through to the end of 2024. i have to ask, do you have any marriages planned on board? >> there are several folks that are planning either marriages or i think we've got a couple of folks that are going to propose. yeah, we're well into 25 now. we've crossed over selling 350 tickets. it is really popular. you can go online, space perspective.com and reserve your seat for as little as 1000. if you want to be earlier, a higher refundable deposit. stuart: when does the first flight carrying passengers take

off? >> the end of 23, early 24 is the current schedule. stuart: so after that, everything is sold out after that schedule? >> we're sold out in 24 and we're working on our way through 25 right now. stuart: got it. taber, thanks for coming back to us. we appreciate it. if i take a ride into space i would be on your balloon. nice gentle liftoff. that would be find for me. >> awesome, sounds great. can't wait to have you on board. stuart: deal. careful. take per, we'll see you again real soon. still to come, steve forbes, matt schlapp, lara logan. question, have you got a haircut recently? have you bought any gas or ice cream maybe? you've noticed inflation, and i mean big time inflation, it's back. i think i know why. i will explain it all in "my take." ♪ ♪ but i love it ♪

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♪ >> i don't think so. but i also don't think the average american is looking around and could even name what joe biden has done to make a difference in their lives. >> i think that 80% year-on-year growth, year-over-year, is not sustainable. >> i think this bull persists, albeit not the same torrid pace. >> as far as earnings is concerned, this is going to be a blowout quarter. anybody who thinks there's going to be a slowdown in earnings at

least this quarter and perhaps next quarter is wrong. >> people are not going to give up a new iphone, but they're going to stop buying a loaf of bread. there's going to be some strange contradictions. >> consumers on the street will tell you they're paying higher prices for everything. higher inflation kills the lowest income people. ♪ i've got the magic in me. ♪ every time i touch that track, it turns it into gold ♪♪ stuart: 11:01, this is monday, july the 12th. to the action, we have come off a little bit on the dow. we were up about 150, now up about 100. the nasdaq is up 15, and the s&p, new high there, up 10 points, 4380. the yield on the 10-year treasury very much in the news, it's up a little bit this morning. but look at that, 1.36%. plunged last week, staying at low levels this week. and now this.

have you had a haircut recently? bought an airline ticket? stayed in a hotel? bought some gasoline? an ice cream maybe. you've certainly been to the grocery store. you know what i'm getting at here, the rising price of everything. i'm just back from a week's vacation, and everything i bought was more expensive. this is inflation at the ground floor level where it becomes noticeable in our everyday lives. believe me, when you pay $5 for one scoop of vanilla ice cream in a paper cup with no sprinkles, you start to take notice. okay, look, i am making a joke of this, but you get the point. after years, decades of very modest costs of living increases, suddenly inflation is back. and i think i know why. it's the enormous amount of money that's being pumped into this economy. we have never seen anything like this. trillions from the fed, trillions in emergency payments, trillions ending up in bank

accounts. we're eager to spend it too. and after the long shutdown, company owners are eager to recoup some of their covid losses. it's the perfect inflationary environment. yeah. it comes as a shock. when you're confronted with eye-watering prices, you know something has shifted. say good-bye to price stability. i don't know how long this is going to last, but i suspect that if the money keeps flowing by the trillion, prices will keep rising. big deal for everyone. the third hour of "varney & co." is just getting started. ♪ ♪ stuart: steve forbes joins us this monday morning. first of all, steve, from the "wall street journal," group of economists get together, and they say inflation is going to last for years. got some numbers on the screen. what do you say?

is inflation here to stay? >> inflation's here for a while. we're getting the whirlwind of what was done last year and the year before. even before covid, stuart, the fed was printing too much money. they went on a binge last year, perhaps for understandable reasons, but they overdid. and i think everyone's underestimated the huge disruptions, supply chains disruption when we shut down the global economy. it's not like a light switch. but i think some people at the fed even if the chairman remains happily oblivious, are beginning to realize, stuart, the party is over. this year the fed has not created new money. yes, they're buying $120 billion of bonds each month, but they're withdrawing it from the banking system through reverse repos. it just means they're borrowing the money. it's like taking a bucket of water, pouring it at one end of the pool, then going to the other end and taking the bucket out. short-term borrowings, in recent months, stuart, that has gone up $800 billion, from 0 to $800

billion. the fed, i think, is realizing bad things are coming, and they're trying to find desperate ways to stem the leaks in the dam. but with all those spending bills coming through, what they go through, watch out. the dam will break. stuart: what would be the best form of stimulus now if you think we need stimulus. what's the best kind? [laughter] >> the traditional kind. no new taxes. no new spending. no new entitlements. no increasing the power and the intrusiveness of the irs and the fed behaving itself. that would stimulate the economy. but this crowd in washington doesn't get it at all. they want to do just the opposite; hurt the economy while we have these huge disruptions coming from bad monetary policy and what happened last year. stuart: all right, steve, if we do get a whole lot of new stimulus, if the congress goes out and spends another $3-4 trillion, whatever it is, what happens? >> what happens is you're going to get more rising prices, you're going to get the kind of

inflation, stuart, that afflicted us in the 1970s. interest rates will go up, they'll be overwhelmed by the markets, and that's going to lead to huge political problems, not to mention national security problems. it's bad for the world to have the u.s. seen as an economy that seems to be going down instead of up, and if it goes up, it's for all the wrong reasons, printing too much money. the consequences are going to be ugly, and i hope some way congress gets some backbone and stops this before it gives worse. stuart: we live in hope, steve. [laughter] mr. forbes, thanks for joining us. >> thank you. stuart: i'm going to put a poll up on the screen. this is from the cpac straw poll for the 2024 gop nomination. former president trump the clear leader, 70% right there. governor desantis a rather distant second. matt schlapp with us this morning. he organized cpac. i think you did, didn't you, matt? yeah, i know you did.

seems like trump republicans are here to stay. has he changed the party for good? >> first of all, let me say i have a lot of really good people on our team that do all the heavy lifting. but we had a good conference, and i think it's true -- you know, we do this poll, you never know how it's going to go. the way people come to cpac is they go online and purchase a ticket, so you kind of never know what the pool is. but we had a big number, i think a 1500 people voted in this poll, and i think it's very clear that the republican party believes that america is in a very, very desperate situation with these new socialist policies that steve forbes just talked about. and they view trump as a fighter, and they love that virtue. and they need a fighter. they either want donald trump to be the leader of this effort and fight hard against these policies, and the number two guy in the poll, you say he's distant, it's true, way behind with 20, but ron desantis is also seen as someone who will fight. they don't want someone who will talk, they want someone who will

fight. stuart: i want you to address this: vice president kamala harris. she tried to explain why voter id laws would not work for people in rural areas. matt, i know you've seen this before, but listen to it again with our viewers. roll tape, please. >> i don't think that we should underestimate what that could mean. because in some people's minds, that means, well, you're going to have to xerox or photocopy your id to send it in to prove you are who you are. well, there are a whole lot of people especially if you live in rural communities, there's no kink coes, there's no office max near them. stuart: i know a lot of people in rural america, and they're really not happy about the vice president's statement there. how do you read it? >> i don't know what's wrong with this woman, you know? barack obama said people like me like to like to cling to our guns and to our religion. now we have a vice president

who's basically saying we're such backwoods hicks we don't even have a printer in our home or even in our whole community. this is like -- they say we're racist, i don't know when you call this when you hate rural people or think we're all stupid. the people i live with from kansas find this incredibly offensive. let me explain to you something about voter id. every country, every democracy on the globe requires you to verify who you are to vote. members with purple fingers in the air in iraq, we don't recognize elections around the globe through our state department if they don't have voter id and voter verificn. rhe temticemtic ptic and ey aceyamsbrari toakeake itndnd likese rast o yo a as voterer p pterif tyerif ofmaliormalizings idea ady a coteote vot multle timle t intie

ayo stoothtoeriseauhe behe b americamanericnd uoctic tiup up un-ameun-a and uocraococ :uand i thi t t'veou dononeeeehe other oth othth seo thceeallyingg a a s argument against where you stand now. i think you're winning. matt, i'm terribly sorry i'm out of time, but thanks, as always, for being with us -- >> stuart, the facts are on your side. stuart: ain't that the truth. a great, a well-organized conference right there as well, matt. >> thank you, sir. stuart: see you soon. now, let's check the markets again, please. where are we now? plenty of between on the screen this monday morning, and lauren's watching the movers. >> yep, starting with l brands. their price target was raised to 100 at jpmorgan. the number two performer on the s&p 500 right now. they're spinning off victoria's secret, that becomes an independent company july 22nd. all right, new high for apple.

the high was 146, so we're close to that right now. not the best news though, some people are unable to access icloud mail today. and finally goldman sachs, they're higher ahead of earnings tomorrow with jpmorgan chase, nice pop today. the bank earnings are going to be key because interest rates are low. how profitable is that for the banks. stuart: and we've had all this speculation on this program for a long time that these profit reports are going to be absolutely spectacular. interesting to see goldman moving now in advance of the report that comes out tomorrow. fascinating stuff. all right. i've got a new survey, and it shows 59% of people think censorship in america is out of control. what happened to free speech? i'll ask lara logan. that's her story, and she's on it. president biden hosting a crime summit at the white house today. his strategy is making people scratch their heads. we'll lay that strategy out for you. a black lives matter group

declares the american flag a symbol of hatred. now the naacp is pushing back. leo terrell is here to respond to it all. he's next. ♪ we're not gonna take it, no, we ain't gonna take it. ♪ we're not gonna take it anymore ♪♪ (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything.

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muck ♪ i got new rules, i count 'em ♪♪ stuart: that is the white house. and there's a meeting going on there right now. gun sales surged during the pandemic. 40 million guns purchased last year. president biden's a blaming the spike in sales for the rise in

gun violence. they're meeting about it right now. hillary vaughn is in d.c. hillary, can you spell out for us what is the president's plan? >> reporter: well, stuart, they're really focusing on not just how criminals are getting their hands on guns, but even how some people are legally purchasing guns and then where those guns go. a biden administration official telling me today that they are taking a look at legal gun purchases where a gun owner passes a background check, but they say that's a concern because they believe some of those guns that are legally purchased could be handed off to criminals. in major u.s. shootings, in new york shootings up 38%. but a new study out last week is contradicting some of messaging coming from democrats. this rise in gun violence is not caused by more guns in hands. instead, it's triggering more people to buy guns. the study from the injury

epidemiology journal saying, quote: we saw no relationship between state level excess purchasing and nondomestic firearm violence. of the estimated 110,000 californians who acquired a firearm in response to the pandemic, many cited concerns for lawlessness, prisoner releases, the government going too far and government collapse as primary reason for acquisitions. and, stuart, biden will be meeting with the attorney general, local law enforcement leaders, crime prevention experts today to discuss how to move forward. but one of the parts of the president's plan includes relief money so that they can beef up their police departments, and that is a significant shift in tone coming from the democratic party and the white house as a whole. stuart. stuart: hillary vaughn, we hear you. thanks for being with us. we appreciate it. come on in, leo terrell. leo, i want you to restrain yourself, okay? [laughter] see if you can hold yourself in just a little bit, okay? if. >> okay.

stuart: what do you make of the president's plan? >> misguided. and let's be very clear, it's not too many guns. people are buying guns, like hillary stated, because there's crime in democratic cities. stuart, last year the democrats declared criminals, riot, arson, they basically called that peaceful protesting? i don't think so. even as we see right now, you have a progressive wing of the democratic party, the squad, who do not want any police departments whatsoever. they want to defund the police. and you have progressive district attorneys like in los angeles who are friends to criminals and are enemies to victims. and that's why people are buying guns. it is a misguided principle to believe that too many guns. there's too many criminals and a lack of law and order in democratic cities. stuart: do you think it's a major negative for the democrats going into 2022? >> oh, absolutely. that's why they're lying and trying to claim that republicans

are against -- are in favor of defund the police. let me be very clear, the democrats are going to lose in 2022 primarily because the lack of law and order is going to be the number one issue. not covid. covid is not the issue. it is a lack of law and order in democratic cities. the same cities that claim systemic racism exists. figure that out to. it doesn't make sense. stuart: the utah chapter of black lives matter is getting some backlash after they called the american flag, quote, a symbol of hatred. the naacp says we do not agree with that statement and reject the idea that flying the american flag is a racist message. all right, leo, the people in utah actually went even further. they said that when they see someone flying the flag at a their house, they know that person or people are racists. now, again, i ask you to hold yourself in on this one, leo, but go ahead. what do you make of it? >> this might be tough.

i've got some breaking news. no organization speaks for 35 million black americans. the black chapter of the u.s. black lives matter does not speak for -- of the utah black lives matter does not speak for leo terrell or millions of americans. this is the insult that they claim black americans are offended by the flag. i love the flag, okay? and i would submit to you that 95% of black americans love the flag. this racist, fringe group is just what i'm talking about, stuart. they think they speak for black americans. they're part of the democratic party, and this is the problem. and you have white liberals who are not speaking out criticizing this racist, racist viewpoint about the flag and how black americans think. black utah -- black lives matter does not speak for leo james terrell. stuart: did you see the breakdown in the voting for the democrat primary in new york city? eric adams, a former police officer who wants to bring back some control measures, he won, and he won in those parts of the

cities which is heavily people of color. the real progressives won in manhattan, full of white liberals. what does that tell you about where black sentiment really is? >> well, i tell you, black sentiment supports law and order. and it's going to be very, very important for people to understand that. that's what i'm saying. white liberals they think speak for black americans. they do not. the key here is this: eric adams talked a good game. let's see if he's going to fund the police. let's see if he's going to take care of the crime in the street. fox news and fox business is showing every day criminals in daylight shooting people in broad daylight. that's outrageous, it has to stop, and i say again the democrats are in trouble in 2022. stuart: leo, you wound yourself up nicely, but you restrained yourself right at the end there. >> thank you. stuart: you're doing all right. it's always a pleasure, leo. >> thank you, sir. stuart: come again.

thank you. >> my pleasure. stuart: tomorrow the major league all-star game. republicans are playing a lot of -- paying a lot of money to run a political ad during the game. all right, lauren, what's it all about? >> it claims that democrats stole the game because they lied about georgia's voting law that places new restrictions on voting. listen. >> even though a majority of black voters support laws like voter id. to democrats, it's just a game. but we are the ones who got plaid. >> -- played. >> as a result, the mlb, the woke mlb consulted with teams and players being moved from atlanta to denver at a $100 million cost to georgia because the local businesses, well, they're open but who's coming in to watch a game that's not there? stuart: do we know how much they're paying for that ad? >> seven figures. stuart: putting some money out there. >> uh-huh. stuart: looking at the markets,

the dow is up 93 points. nasdaq slipped to the southland but only by 4 points. new records for the s&p, 4377 as of now. tesla, they just updated their self-driving software. drivers can use their autopilot mode on local streets now, not just highways. the stock's up nearly 3%. nice gain. take a look at this. a restaurant posts a sign blaming slow service on government handouts. we'll tell you where that happened -- [laughter] the senate authorizing $110 billion for research into semiconductors. that's a lot of money. we've got a report on it. soon. ♪♪

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thousand people file for unemployment benefits, newly unemployed. anthony chan's with us. he's an economist. anthony, that's still a very, very high number. why are we still seeing so many new claims for unemployment benefits when we're well past the lockdown of the pandemic? >> well, stuart, there are several factors. the big one, of course, is those unemployment-enhanced benefits. when you have height labor -- tight lay -- labor markets, it allows people to be picky. it's not clear even eliminating those benefits, that that is going the boost employment. and i say that cautiously because there are other factors. childcare, for example, concerns about covid and all the savings that we accumulated during the pandemic. remember that during the trump administration if we had $3 trillion of stimulus. under president biden we had another $1.9 trillion. so that's a lot of money that's in the coffers. until we get rid of all that

savings, employees on the unemployment lines are not going to be as anxious to start working again whether you eliminate the enhanced or not. stuart: a apart there that, i think it's a good thing for many people. they've got a financial cushion coming out of the pandemic, didn't necessarily like their old job, looking for something. they've got the cushion to fall back on. they want something new, want something different. they want to redeploy their talent. i see that as a good thing. how about you? >> i love your optimism, stuart, because i agree entirely. because if you get a job that fits your needs a lot better, you're likely to work harder, productivity is likely to increase, and that's going to suppress inflationary pressures when you have higher productivity. but that's a long-term effect. right now in the near term we're all anxious to see those unemployment numbers coming down. we will see a little decline this week, but it's taking longer because of the other factors i mentioned. stuart: we got this new report

that said cities in red states have seen far better recoveries in their job markets. cities in blue states fill all but one of the top spots for worst labor market rebounds. how do you explain that, anthony? >> oh, very simple. i mean, when you look at the number of claims, they are coming down. but when i look at the unemployment rate back to january to now, you see that those states that are not eliminating the claims, they've actually seen a bigger decline in the unemployment rate than those that are ending it. and it's not because of anything you seeing, stuart, is wrong -- saying is wrong, you're spot on. there are many other factors. but clearly, you're incentivized to stay home if you get more money than by going to work. but again, those other factors are having an influence. once those other factors go away, and they will, the more vaccines we take, the less vulnerable we are, then we will really see the benefits of

eliminating these enhanced benefits which, by the way, may have been a great idea during the pandemic, but it's outlived its purpose. stuart: understood. anthony chan, thanks for being here. we'll see you again soon. thank you, sir. the senate will authorize $110 billion to fund research into semiconductor chips. grady trimble is at a chip lab in michigan. are they going to get part of that $110 billion in that lab where you are? >> reporter: presumably. this is the university of michigan, and the state of michigan is one of the leaders in r&d and testing for these computer chips that we are facing a shortage of as we speak. and one of the things that they're doing research into and developing here at the university is ways to produce more chips in a shorter amount of time. basically, make production more efficient. and there you see one of the researchers waving at us. and i talked to one of the professors who helps run the lab here. he also says they're working specifically with industries that have been impacted by the

shortage, so think consumer electronics as well as especially here in michigan the auto industry. listen. >> university of michigan is working a lot with the automakers and especially electronics. and is one of the ways that we're helping that is by making chips specifically for the usages that they have. and that can help also consolidate chips so that they can have better chips and need fewer of them to execute the kind of problems that they need to solve. >> reporter: and, of course, the chip shortage is a short-term problem that industries are facing, and these are long-term solutions. so it could be some time. but the goal is to get development up to speed in the future and bring manufacturing back to the united states. back in 1990 more than a third of computer chips, stuart, were produced in the united states. now that number's right around 12%. so the goal of all this investment from the federal government as well as the state of michigan is to manufacture more here so there aren't all these supply chain problems that

industries are facing right now. stu? stuart: grady trimble in michigan. thank you, sir. see you again soon. very interesting story coming our way from sony. they're changing the way they make tvs. all right, how are they doing that? >> they're giving the robots complete control. so sony reportedly wants 100% of its televisions to be made 100% by robots at its main factory in malaysia which will cut costs by 70% by the year 2023. so smartphones and cameras, they could be next, automation by robot. and this is the idea of shifting attention to services in the future. services will drive sales of the devices that are made by robots. stuart: and that plant is going to be in malaysia. >> the main tv plant -- stuart: all robot, all the time. >> if you have a complaint, blame the robot. apparently, they're better at making tvs than humans are. stuart: well, they might become that way. [laughter] even though california now fully

open, it is now fully open, you still have to wait to eat at many restaurants. what's that about? what's that about? >> a worker shortage. i give this restaurant kudos. this is my favorite story of the day. it's taco loco, and they posted a sign -- there it is -- that apologizes for the slow service and flat out blames workers for choosing not to come back to work. here's the deal, and anthony chan said this. in california the federal extended unemployment benefits, they don't expire until september. so even though the state has been fully open for about a month now, it's going to be about two more months before it gets all its workers back, if they ever come back. think about it. you're a restaurant. you survived covid. you survived being totally shut down. and now you're open, and people want to eat there, and your service is slow because of a worker shortage? laziness? incompetency? bureaucracy? i would be just as mad as this restaurant owner.

stuart: i saw similar signs -- >> you did? stuart: not quite as pejorative, but signs saying we can't get all our workers back in massachusetts, i saw it in new jersey -- >> so blue states are getting fed up. [laughter] stuart: i think that's too far. we just got the tsa numbers, a new post-pandemic record. it's a big number. number of people traveling by plane every day, we've gotta that number for you. we'll hold it until after the coming break. amusement parks are not immune to the labor shortage. one company offering all kinds of perks, but they still can't get can people back to work. the head of that company will join me after this. ♪ she's got a ticket to ride, she's got a ticket to ride. ♪ she's got a ticket to ride, but she don't care ♪♪

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♪ stuart: i get around. beach boys. and you are looking, by the way, at philadelphia international airport. we're showing you that because of this: nearly 2.2 million people passed through tsa checkpoints on sunday. that is the biggest number since the start of the pandemic. now look at united airlines. they're preparing for winter travel, adding 150 new daily flights to sunny locations in america, mexico, the caribbean, central america. that is a 30% increase in service compared to 2019. now show me cruise lines. i think they're all down today. yeah, they still are. the delta variant is beginning to affect cruising plans and cruising stocks are down. amusement parks struggling to find workers for their busy summer season. john reilly is the chief operating officer of palace entertainment which runs 25 parks across the country.

john, welcome to the show. i know you have increased wages, i know you've offered some special perks. have you got enough people coming back to work? if. >> well, thanks for having me, and i'm pleased to say we now do. it's a dynamic environment. we're seeing surging consumer interest and demand. people want to come and visit our parks across ten states in the u.s. and, you know, we've had to make changes, we've had to be flexible. we tried early on to make aggressive moves, but we're very pleased. we've been able to add 400 operating days from our original plans this year, and is we feel good about the position that we're in now, but it took a lot of work to get here. stuart: it must have been tough though operating with a less than full staff because amusement parks, everybody's concerned about safety. it's always in the news. so you can't pull back on safety even though you've got limited staffing. how did you do it? >> absolutely. safety comes first in this industry and for our parks in

everything that we do. we noticed in late martha demand -- march that demand signals were very strong, stuart. interest in going to our water parks, we realized at that point we were about 30% hired. and by may we would be opening these parks. and so we've increased wages on a market-by-market basis with an analysis in each market, and we've also increased incentives, perks and fun things for our team members including sniffs to stay -- incentives to stay through the rest of the summer. and we feel good about the position that we've been in. we didn't add the days until we felt very good about the depth of experience we're going to be able to provide, and we're pleased that now we have seven-day operations in just about every market. stuart: now, the other side of the coin, the people who are actually going to your theme parks, your entertainment parks, are they spending more money?

you've got a pretty good handle about people spending money and inflation. i mean, are they buying lots of ice scream and lots of hamburgers and concessions? >> what we're seeing is consumers are thrilled to be back. and, stuart, we opened -- we operate a lot of hometown parks, kenneywood in pittsburgh, water parks -- stuart: are they spending as they used to? >> they are. stuart: more than they used to? >> i think they're happy to be out, and they're happy to be spending, and we're seeing increased spending, correct. stuart: did you put more prices up, ad mission prices? >> we have a revenue management strategy that's based on customer data in each market. so a market-by-market analysis, and it depends on the market we're in. stuart: okay. have you raised prices in many markets? >> in some markets we have. in some markets it's, it's a push to convert people to passes, to season passes so that

they'll visit more frequently. so it's a combination of they may be paying paying a higher tl price, but they're getting more value out of the product. stuart: okay. look, we're very pleased to hear that you've got your staff coming back and that your incentive program worked. all good news. and we're also fascinated by how much money people are spending these days compared to pre-pan dem levels. pretty much across the board -- pre-pandemic levels. john, come again soon. >> thanks so much for having me. stuart: you got it. take a look at the dow 0 stocks -- 30 stocks, give you a state of the market this morning. it's a pretty even split. half up, half down. the dow is up 62 points as we speak. next up, lara logan says the algorithms on social media are manipulating you and your family. she's going to tell us about that in just one minute. ♪ don't speak, i know just what you're saying -- ♪ing so please stop explaining. ♪ don't tell me 'cuz it hurts ♪♪

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stuart: you didn't know? [laughter] you should know these things. that is sixth avenue, new york p. cloudy. rain's on the way. 81 drees but a little pick-up in activity. it ain't what it used to be though. quick check of virgin black tick, sir richard branson's company, of course. down 12% now because they filed for a sale of $500 million worth of sale that. dilutes existing stocks. bytedance, the owner of tiktoking, they've ditched plans for an ip o. i think i know why, a lauren. >> china, the regulatory crackdown there. so they reportedly shelfed the ip to o in march when they were alerted by authorities that were concerned about the data that they had. you contrast this with didi though, didi went ahead with

their ipo even though china's cybersecurity administration warned them not to. they did it anyway. this all started last year when the tensions between the u.s. and china worsened and beijing started requiring tech giants to seek approval by them before they listed shares overseas. bytedance has deep pockets, they could have afforded to several their ipo maybe permanently. didi, they've racked up losses for years. stuart: so we poured our money into didi, the stock went up. they walked away, the chinese cac craked down, and when the stock came down, they got the money. >> exactly. it is now at 11.48. stuart: there you go. good story, thanks, lauren. check this out, please. a poll shows 66% of people say they censor themselves in everyday conversation. how about that? self-censorship.

lara logan is with us. that's an astonishing number. free speech, i guess, does not -- it's not free any longer, is it? it's not open and free. we've lost it, haven't we? >> it hasn't been free for a long time. but you know what it is, stuart, it comes down to what price are you willing to pay. and most people are afraid to pay any kind of price. they're afraid to risk anything. they're afraid of the consequences. and so we live in a time where the cost of voicing your opinion, if it isn't in line with the mob, is so high that people either don't have the courage to do it, or they are just in circumstances where they can't do it. stuart: they're shamed into it too. they're shamed for some of the things that they say which might be taken differently in a different context. i really want to talk about your new show starting on fox nation, lara logan has no agenda: big tech, big brother. i want to show our audience a

brief clip. roll that, please. >> they have all the power, they have -- so what do they fear? >> the one thing is the people. that's the one thing they fear. stuart: i think big tech is big brother, and i think that's the point you're trying to make. am i right? >> yes. and you know what was so interesting, the person you just saw there is bill binney who was very senior at the nsa for many years and is arguably, you know, one of the very best analysts if not the best in the history of that agency. and he was concerned from the very beginning that this was where we were headed. his worst fears have been confirmed. and more than two decades after he first blew the whistle by going to the inspector general of that agency, it's pretty much like every scenario that he warned about is now, has now taken place. and then interestingly, one of the white hat hackers or, you know, black hat hackers, very

experienced young hacker who he inspired, actually says so us in another part of that episode that what we're looking at now is really we are the monitored class, you know? when you have a small number of people controlling big tech who are the, you know, the elites who are monitoring us, and it's a pretty terrifying scenario. he was a diehard bernie sanders supporter, for example, so he says he's no stranger to surveillance. because people see this as a left and right issue, and it really isn't in the end. it's one of principle. you either believe that the nsa and the government should be spying on you without a warrant or you don't. and we've allowed ourselves to get sidetracked with trump's personality or this and that and all the rest of it. but unfortunately, they know exactly what they're doing. and what this one hacker warned about is that the line that we perceive between big government and big tech is really artificial, that it doesn't exist. in his experience what he has

seen over and over and over again is that these agencies in the government are walking hand in hand with precisely the same agenda. stuart: we'll be watching, lara, guaranteed on fox nation. a new episode each day this week. great stuff. lara, thanks, as always. on your screen, the monday trivia question. how many miles is earth from the sun? the answer when we come back. ♪ ♪ . . . only 6% of us retail businesses have a black owner.

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stuart: how many miles is earth from the sun? the answer is, light it up, please. 93 million. i got that totally wrong. look who is here. a minute early, by the way. ashley webster in for neil today we have to talk about england. it was a great game. it was good for soccer. i don't understand why the 19-year-old guy took the penalty kick. who put him in that awful position? ashley: the manager, gary southgate, he said the five payers took penalties these were the best in practice. when the time comes performing the best with practice penalty kicks. it's a whole different scenario in front of 70,000 plus with the nation on your shoulder in wembley stadium.

england will never have a better chance to win a major soccer tournament yesterday. hats off to italy. they played well. they came back into the game. they deserved it. do i have to say that again any fell off the couch at that point. stuart: we've been running it throughout the show. it has to be because that was the moment, okay? ashley: it was. stuart: ash, all yours, lad. good luck to you the next couple hours. we'll see soon. ashley: thanks very much, stu, thanks for again playing that replay. welcome to cavuto "coast to coast." i'm ashley webster in for neil cavuto. we have news coming in from around the globe. lots going on. starting off the week with the s&p 500 and nasdaq hitting all time intraday highs. right now the markets are all higher, very modestly so. the experts will weigh in, what the economic news will mean long term. we'll talk about