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tv   Varney Company  FOX Business  September 8, 2021 9:00am-12:00pm EDT

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maria: thank you to degen mcdowell and joe concha. stuart: change the subject, present binding what he can to move on from afghanistan. his political future is at stake. washington post, biden needs to turn the page from a painful august and the new york times, another failed presidency at hand. the president will speak about labor unions. a major speech on covid. next week a crib to california
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to campaign for governor newsom. the afghan debacle won't go away. four terrorists are now top leaders in the towel are bannon government, the interior minister is a terrorist with a $5 million bounty, tough to move away from that. let's go to the market, stocks little changed, the dow dropped 269 tuesday closing above 39,000, down 20 in premarket activity. the my stack, minor losses before "the opening bell," bitcoin took a hit yesterday, el salvador making it legal tender, 46,300. vice president harris would be
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today, a lot of comment about going to a border state and border crisis continues and why is the vice president getting involved in a state election during the afghan debacle. donald trump schedules rallies in georgia and iowa. what is he up to? wednesday september 8th, "varney and company" is about to begin. stuart: a lot of news to get to. this is poignant. president biden declares the climate changes everybody's crisis. listen to what he said after touring the damage from ida in new york. >> we are going to deal with
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climate change and end net emissions by 2050, by 2020, 0 emissions, they got to move. stuart: it may seem picky but he said by 2020. i think he meant by 2030. the president's performance, his cognitive ability is in question. the president did not get the warmest welcome in new jersey. he was heckled. we will play that tape later this hour. the futures numbers before the market opens. the jolts report, the labor turnover number at 10:00 this morning. there was a record number of
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jobs in june, mark tepper, the man with the smile with us today. explain why we have 10 million job openings and so few takers. >> nobody wants to work. a lot of people don't want a job, they want the next government handout. every where there's a work hiring sign in the window of local restaurants. as you mentioned there's 10 million job openings, 6 million people fewer on payroll than we had pre-pandemic so we, you can get one, people don't want to work, they want a handout. stuart: i do see it differently. i see the pandemic as an opportunity presented people to make a change. some of them are living on the couch on the government handout but it is an opportunity and many are taking it to get a better job to live in a better
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place, live in a low tax state. that is opportunity. it is a plus, not a negative. 30 seconds to respond. >> there is a structural employment issue where the labor pool doesn't have the skill set for a job, you got to sharpen your sward and hone your seville and they do that and a post from your competitors. >> an hour from now, stay there please, some other issues later. bitcoin down after el salvador adopted as their official currency. bitcoin down again this morning. >> following the heaviest
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losses in 2 and a half months. when our salvador adopted bitcoin, you had chaos online and on the streets, could handle the volume an the rumor selling the fact a lot of people got into this historic day that el salvador would be the first to accept it is legal tender and sold right away. stuart: tepper come back in again. another oddball question about cryptos. if there is a stock market correction does bitcoin go up or down? >> i would say it goes down. if i look at it coin and crypto overall, what happened to it over the last day or so, it was by the rumor and sell the news,
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i can't explain it. when you look at the crypto space it is tough to explain what is happening on a day-to-day basis. obviously bitcoin is becoming more widely adopted but if the market pools back bitcoin and crypto overall would pull back as well. stuart: we like you on the show because you have a wonderful smile and he will take on and be articulate on any subject we check at you. what a guy. you are out of here. we are less then a week from the california recall election. it is getting nasty. a speaker at one of governor newsom's rallies called larry elder a black face on white supremacy. leo turrell is with us. is this all about race? are democrats afraid of elder?
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>> the democrats are afraid of losing their constituency. there would be no democratic party without people of color, black and brown. larry elder discourse the democratic narrative they tried to make republicans the party of white supremacists. a trump republican, they need to demonize larry elder to keep their base intact so they are running scared of larry elder because he's a black republican. stuart: why is vice president harris going there today to campaign for newsom. 's race involved in that campaign decision? >> not only race but poor performance. kamala harris is -- unpopular, her numbers were underwater. the point person, in
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afghanistan, kamala harris is unlikable and the detriment, if they look at the precedent to help gavin newsom. stuart: i am hearing newsom is going to win. >> i would submit to you this mail in voting favors newsom. what i'm hoping for is there is a tremendous same day voting, that is not a republican conspiracy, there were democrats, independents and moderates who wanted gavin newsom out. i'm hoping for a big turnout on recall. stuart: are you convinced you will get it? >> i will tell you tuesday morning, let's look at the numbers from people in those lines to find out if there's
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going to be a massive turnout, democrats are running scared because larry elder -- the narrative as to what a republican looks like. stuart: not supposed to say this in journalism but only time will tell whether a republican can won a statewide election in california in 2021. >> a perfect storm. it is a perfect storm for this to happen because the state of california is in a disastrous state of mind in terms of crime, homelessness, wildfires, people in california regardless of party affiliation want to change. larry other represent that change. ashley: see you again soon. and into the betting markets, they are swinging in favor of one side or the other in this
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recall election. >> governor gavin newsom, there is an 85% chance he keeps his job. bets on a successful recall cost a dime from a high of $0.34 early last month. stuart: i how good these betting predictions really are. >> you can bet on newsom. i don't gamble on anything. >> 85% chance newsom wins. here is where we are, some red ink but not much, people in new jersey were loud and clear about president biden's withdrawal from afghanistan. >> leaving americans behind. stuart: president biden dismissed them and accused them of ignoring climate change.
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democrats senator joe mansion once he will not support $1.5 trillion of the president's $3 trillion spending plan. louisiana senator bill cassidy, after all louisiana has been through. ♪♪ ♪ i wonder how the firm's doing without its fearless leader. you sure you want to leave that all behind? yeah. stay restless with the rx crafted by lexus. experience amazing at your lexus dealer.
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talking about his 6 point plan to dealt -- deal with the delta variant as his poll numbers slip. real clear politics has approval rating down 45.9% 10 points from april. senator manchin has made clear he's not going to support all of the $3 trillion spending plan. i think you know what or have an idea what that number might be. >> xe is is reporting part of the package he won't support like the $400 billion for home caregivers. he's on the fence about the child care tax credit, free community college and a test to prove you deserve this, that you are eligible. congress has into wednesday to write the legislation. president biden is optimistic senator manchin comes around, just a week ago, $3 trillion is too much, look at inflation, the rising cost, we can't
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afford this spending so what did they settle on? stuart: he goes for $1.5 trillion. where do you settle? 2.5? let's talk to senator bill cassidy, republican from louisiana. you heard the discussion. one $1 trillion in this extra spending bill give you what you want and need in louisiana? >> there's 3 different bills we are talking about, what is the bipartisan infrastructure bill which we need and everybody needs, we then have a disaster relief bill we need after hurricane ida which is separate and will benefit people in the northeast helping them to recovery their lives and lastly there is the reconciliation bill. what is in it? if this is going to be the appropriation bill for next year what is the relative amount that goes into and into
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increasingly dangerous world, how much goes to new mandatory programs driving of the debt and deficit, you have to see what is in the bill before you decide whether you are for or against it. stuart: reminds me of speaker pelosi, you have to pass it to find out what is in it. not that you are going to do that but brings their close memories. the ida wreaked havoc in louisiana. you have been touring the damage, give us an update. >> last time i checked there still 600,000 people without electricity. some folks will be without electricity until the end of the month, september 10th could be a hot lunch in louisiana. imagine having no electricity and long lines at the gas station so even if you have a generator you don't have generator power electricity. there is a set of circumstances
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that is incredibly difficult. that is why we need to pass the infrastructure bill. it billions for resiliency and we have learned if we invest in resiliency we can withstand these natural disasters much better. so a lot of things to do in my status a lot of things to do across the nation. stuart: as things stand you expect to get the money louisiana wants and needs. >> for disaster relief there is nothing for sure. west louisiana got hit by two hurricanes, one on top of the other. they are still waiting for the disaster relief money. there are still people who are homeless related to a storm a year ago. just because there has been a disaster and americans are homeless does not necessarily mean that relief is quickly forthcoming. i'm hoping that it comes. by the way i am hoping to have
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needs met for the people in southwest louisiana. in this case it is coupled with northeast louisiana, not just by louisiana but pennsylvania, new jersey, new york, what can we do to help those fellow americans as well and hope there's an experience. stuart: thoughts and prayers go to the people of louisiana. appreciate it, thanks very much. president biden toured ida's damage in new york and new jersey trying to distance himself from what is going on in afghanistan, didn't quite work. >> hecklers criticizing his decision to leave afghanistan. >> leave americans behind, leave americans behind. >> it is sad that america has come to this. it is sad. you should be ashamed of
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yourself. >> the president dismissed them and accused them of ignoring climate change. listen to this. >> they don't live there. they don't understand. this is everybody's crisis, everybody's crisis. >> i was surprised to see that reaction in new jersey. there are a lot of biden harris signs in new jersey and he's trying to forget afghanistan, pivoting to climate change, pivoted sometimes blaming it for the crisis we thought after ida in the northeast calling it an exit stencil threat. stuart: it is tough to change the subject while afghanistan is in the background. check the downside, little red ink this wednesday morning. we will be back with "the opening bell". ♪♪
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>> we need market expertise to
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deal with what is going on on wall street these days. we need a bull and david lefkowitz is bullish, the markets are on solid footing. welcome to the show. do you see anything at all on the horizon the condemned the picture for stocks? >> there is always risk. the pandemic is the biggest driver of what is happening in the markets and if we see this delta wave, looks like it is beginning to get better especially -- stuart: sorry to interrupt but every day on the front page of the new york times they have a graphic of the most recent cases. up until now it has been spiking, new cases keep going up. now it has flattened off. i think we can see the other
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side of the delta variance. that is pretty bullish. >> you articulated why there is more upside. the delta variant is probably peeking, we are hopeful that it is, look at the fundamentals of the economy, there bolstered by stimulus payments, businesses have a huge backlog and you have a federal reserve very supportive of this recovery so put it together you see strong earnings growth, another 10% next year and we are incorporating tax hikes in the 10% number and that will empower further gains around another 10% by 2022. stuart: are you factoring in the jumping capital gains tax
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rate and or a jump in the corporate tax rate? >> we are. the more important one from a market perspective is the corporate tax rate. on the game side we found a relationship between market performance and changes in capital gains taxes and this is going back to the 1950s. that doesn't mean individuals may not have higher tax bill, that is possible but from a market performance perspective there is no relationship. on the corporate tax side that will impact corporate profits but will probably be a hit of 4% or 5%. that is manageable and earnings up 10% even with the drag of 4% to 5% next year. stuart: i will throw this at you with 30 seconds to spare. in the event of a market correction does bitcoin go up or down? >> i think bitcoin has been acting more like a risk asset. to the extent that we do see
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equity selloff, crypto assets would also selloff and that is the general pattern but we don't have a formal view on bitcoin or crypto assets in general. stuart: you answered the question very well. you are all right, thanks for joining us and now we turn our attention to the bell ringing at the wall street stock exchange. one of them is not there. it is 9:30, wednesday morning and here we go. how are we going to trade the early going. is with a loss of 0.one%. where is it? same story. and now.0 one on the loss and as for the nasdaq that is down.
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one.one%, minor losses and microsoft, the only one morning. apple, alphabet, amazon, facebook, down, neo, the chinese vehicle electric vehicle company down 4%. there trying to raise a lot of money taking a page from tesla. >> they are striking while the iron is hot. sales more than doubled in the last quarter so they are raising money from a position of strength. you brought up tesla, elon musk, in spite of strong sales he built up $20 billion cash as a result. does your money? beijing is cracking down with the new model they are going to europe and semi shortages hurting. stuart: they are playing a gamble on whether americans will put money into a chinese
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vehicle company. will be do that bearing my the crackdown in china itself? lauren: tesla has done well and will move in that direction. stuart: tesla has done very well recently with sales in china. how many cars of a sold? >> august sales over 44,000 sold last month, stock is not stuart: the stock is 762. lauren: they introduced last month in china a cheaper version of the why, cut prices on the model 3 so that helps them. stuart: coin base taking it on the chin recently down again today 3%. trouble with the sec. lauren: yesterday was the crypto selloff that regulators are threatening to sue them if they go away with this plan letting crypto users lend out there crypto assets and if they do that they are in interests.
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this is where the sec comes in, you have to comply with existing security laws, coin base says cryptos aren't security, commodities, security, not that, they will continue talking about it with regulators but they have a lend product, until october. stuart: coin base down another 3.3%. let's go on to game stop. i will call them a meme stock whether they are or not. they report after the bell today. lauren: they have a new management team, the cofounder is chairman of the board and the ceo and cfo are from amazon. game stop wants to be like amazon in terms of their digital presence and customer service but have not shown investors how so investors want
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to see their growth strategy and how do you justify that your stock is up 950%? stuart: a strong belief the management team can pull it off. lauren: i am excited for the first earnings call. stuart: it is $203 a share with the earnings report. citric systems, activists hedge fund. elliott management, a big state in that company is white is up 8%. my question is why did they buy and how much? lauren: over $1 billion, they want to boost the share price it is down 20% this year. wall street journal is reporting that and they do not know how elliott wants to focus on their core offerings. they have been slow. slow to get our users to transition to the cloud and that is their bread and butter, they allow for the virtual
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access to desktop computers. stuart: in come the activists to say i will shake things up. it goes up 7%. that is how it works. thanks. take a look at the dow winners. i can see it. chevron is the top performer, visa, walgreens, mcdonald's and walt disney big names on the dow winners list, the s&p headed by citrix systems and the rest, i can't read it. the nasdaq composite. i need glasses. the nasdaq composite, electronic arts my producer tells me in my ear followed by analog devices, activision. a lot of video game makers on that list. and they are up significantly. must be something going on.
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a pretty flat opening to the market this morning, down 31 points on the dow. on the 10 year treasury, it is one.35%. the price of gold is $1,797, bitcoin 46,$000 or coin. oil $68, $69 a barrel, gasoline priced at $3.18, average for regular. $4.40 for regular in california. mississippi the cheapest gas state of all, $2.79 is the average for regular there. we all witnessed this reaction from president biden when asked questions from the press, roll it. >> this last question i will take. i'm sorry, i will get in travel with staff if i don't do this the right way. go ahead. stuart: according to a new politico reports and staffers
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at the white house, they can't watch when biden talks. kayleigh mcenany worked in the trump white house. did she feel that anxiety about her boss? i will ask her. despite 10 million job openings, cnn claims americans are scrambling to get jobs. take a close look at the photo they used for the headline. a huge help wanted sign on a business. does cnn realize there are 10 million job openings. ♪♪ that spin class was brutal.
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stuart: that sounded like a song from my generation. it will reach 95 in texas later today. markets were open for 12 minutes, the nasdaq is down 58. sherwin-williams make paint, lower third quarter guidance because on this call, mentioning stagflation. a paint company. >> persistent and industrywide raw material has not improved, not expecting of availability for unfavorable impact for the third quarter by high single digit percentage. everyone picking up their homes, demand is through the
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paint and they can't get it. they are raising prices of 4% surcharge on september 20th but the tone of the call sounded like stagflation to me. stuart: stock is down 2%, citigroup up one third of one%. they are cautious on stocks. neil: the correction occurs it could be ugly because it could be amplified by volatility. we haven't had 5% pull back all year. it feels like we are ripe for one and haven't got one in september heading into october. it feels if you need a pullback or correction and volatility. >> i would like to know what would happen to bitcoin. lauren: are they making that
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call? this really worries me. american airlines planning to strike. what is it about and when might they strike? lauren: they will do so at big airports like dallas and miami, they are overworked and complaining we don't have staff because nobody was flying the workers were cut back so we i staying stranded in a hotel lobby and they want better accommodations. not just americans that threatened to strike but southwest too, the airlines would bring back more workers faster. stuart: the pilots are striking so you can take off that's a real disruption. >> how many times have you gone to the airport and your plane
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can't take off, that happened several times. basically every time i have flown it is an issue. stuart: puts you right off. i want to check the markets one more time. the nasdaq is down. john, in a couple minutes we get the official number of jobs going baking, covering the 10 million jobs going baking. why are these jobs not being filled? >> one reason is people don't want to pay for these jobs and the other one would be people don't have the skills that are necessary to fulfill these jobs, two possible reasons and to supplement unemployment benefits there would be a
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stronger incentive to take these jobs. stuart: could it be some people don't want to go back to their old job because they don't like it? some people retired in their late 50s and early 60s because they could afford to do it, they moved to a new state, all those reasons could be reasons we have 10 million unfilled jobs. >> all those reasons are correct and it is so unusual to have so many more job openings versus the number of people unemployed which is 8.4 billion so early in an economic recovery that even the unemployment rate is still relatively high, 5.2%, this tells us we have a tight labor market and we see upward pressure placed on wages growing at 4.3% annually in the month of august, 4.5% on
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average the past two years, you are creating an environment that favors price inflation. stuart: don't know if you saw this but cnn claims jobless americans left scrambling after unemployment benefits end. seems to me trying to make out everyone living paycheck to paycheck all scrambling and desperate and they are taking help away. how do you see this? >> why do we have so many more job openings than the number of people out of work, why do we have a record high percentage, 49%. small businesses have hard to full job openings. he will always find hardluck cases when you are writing a story, cnn went out of its way to find situations that would
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be worrisome as far as the end of supplements all unemployment benefits. i'm beginning to notice a number of older americans out of work reluctant to return because they fear covid and they are discovering a hard truth among the competitive labor market that it is difficult to obtain a new job at the same wage and salary you were getting prior to your unemployment. it might be older americans accept the reality of lower compensation. it doesn't apply -- stuart: thank you for being here. i want to talk about apple,
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they set the date for the latest launch which i understand will be the apple 13. >> possibly. it is tuesday the fourteenth, there will be a many, better camera, faster 5g, 44% are. expected to upgrade and of those that will upgrade, a third, how much is the pro max, no idea but the chips that give you the 5g cost more money because it is hard to get semiconductors these days, apple, 20% more and pass that on to you. stuart: the new introduction doesn't have the same impact. thanks. the mu variant is in every state. should we be worried?
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>> the tune of 5 points, the nasdaq is not positive, the dow 55 points. we do this all the time, they occupy a huge position in the market. anybody in the market probably has shares in amazon, alphabet, apple and facebook. i want to talk football, the football season that starts tomorrow, lauren is with me and will bail me out. there is a survey that shows 100 million americans live in states that legalized sports
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betting and 45 million of those 100 million place bets on sporting events but that is an expansion of legalized gambling. >> a huge moneymaker with depleted coffers because of the money they are spending to deal with covid 19 issues so this is the disruptive element. you are watching a game streaming or in person and betting on it on another device. stuart: when i first came to america the only place you could gamble was las vegas and by the end of the 70s in atlantic city new jersey, then what the steps were but along came mobil gambling on the phone, the most expansion of legalized gambling i have ever seen and 45 million people betting on games.
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what is it going to do, in 2020, firearms were seized by the tsa, guns were put into baggage. compensating i'm sure but 3250. >> why do people think they can come through the airport, what states -- stuart: a raw report. tom homan, joe conand, now you know what to do when a guest doesn't show up. we will be back. ♪♪ we are family ♪♪ my sisters and me ♪♪
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♪♪ ♪♪ ♪. stuart: good morning, everyone. it is 10:00 eastern time. straight to your money. the market has been open for 30 minutes and this is the result. we're up 38 on the dow. we're down 50 own the nasdaq. not much price movement. 10-year treasury yield, a few moments ago 1.36. it is still 1.36%. bitcoin down around 46,000 bucks per coin as we speak this
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morning. big drop. problems with el salvador making it the official currency. we're down to 46,400. the big important number came at 10:00 this morning. we've got it. the number of jobs opening, job openings. how many? lauren: 10.93 million. another record high, fifth record high in a row. stuart: that's huge. lauren: we were expecting a small decrease. we've seen record of a record. 11 million jobs that are open. labor department gave us a report for the month of august, the jobs report. 8.4 million americans without jobs. 8.4 million americans. there are 10.9 million jobs open for you. stuart: that is not a report that will affect the market that much immediately. a economic signal, economic sign of the times perhaps but not a market mover. we're down 50 on the nasdaq. we're up 60 on the dow industrials. 10.9 million jobs. thank you, lauren. now this.
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so there are 10.9 million jobs going a bigging and everyone wants to know why? many commentators blamed the merge payments that the unemployed receiving the last year. you heard the expression, they're being paid not to work. there is a lot of truth to that. we had several people on the show that spent their government money on bitcoin. it is not the whole story. 18 months of the pandemic brought on profound changes in the workplace, the workforce. we all know it. let's stop blaming our labor shortage on laziness. some people didn't like their old job, don't want to go back to it. the pandemic allowed them to choose something new, maybe something better. some people got used to remote work and don't want to go back to the office. they're working, maybe not for their old employer. a lot of people moved to a different state, perhaps with a lower tax rate. their work place shifted to
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florida, nevada, tennessee, texas. people took early retirement. they could afford it with the 401(k)s doing so well after the stock market rally. there will be some, perhaps many people who refuse vaccination and will not work for an employer who says you got to get the jab. i may differ from some of my conservative colleagues in that i see positives here. sure, the work ethic may not be as strong as it was back in the day. all old people say that. yes, there are countless stories of people gaming the system, doing nothing on taxpayer's dime. to me the pandemic offered millions of people to shift their working lives to something more positive, more fulfilling, probably at a higher income. what is wrong with that? one of my conservative colleagues is liz peek. she joins me now. fortunately she is smiling. good morning, liz, do you see a positive, something positive coming out of this work environment? >> stuart, i think you raise
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some really interesting points. i don't think that is the whole story though. i think i would also be on the side of conservative critics who have pointed not only to supplemental unemployment benefits but also the rent moratorium, the paws on student loan payments. stuart: true. >> the fact that child tax credits checks went out to 61 million americans. i don't think it is healthy we have 10.9 million jobs available and people are not signing up to take those jobs. however, i would agree with you that for certain portion of our country only about 14% of the people in the country are working remotely right now, they have indeed been presented with a lot of different choices and i think the idea that you could be self-employed in particular has really caught on. there are a lot of gig work available, opportunities available. people have kind of glommed on to that because they like flexibility and they don't want to go to an office but i think the central thing that is
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affecting employment without a doubt is covid and resurgence of covid cases have kept a lot of people supposedly about five million people, from going back to work because they say their employers are either out of business or unable to function. we need to get this virus under control. then i think we'll see an awful lot more people go back into the workforce. stuart: tell me about your op-ed of president biden's handling of afghanistan and the economy. you say he is failing and everyone knows it. you have 60 seconds to have at it, liz. >> well nothing is going right. i mean the economy is slowing down very perceptively. consumer confidence which i think is one of the biggest kind of report cards on an administration has absolutely plummeted. that is so unhealthy, stuart. it is across the board. all the indicators suggest that it is not just biden's approval ratings underwater. it is the mood of the nation. nothing good comes from that.
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just ask jimmy carter. we have a malaise situation in the country right now harkening back to high inflation, all the problems carter had, including terrorists showing americans to be weak, america to be weak. i think we're seeing a replay of that. that is really bad news for the country. stuart: thank you, liz peek. appreciate seeing you this morning. >> thank you, stuart. stuart: markets are still showing a mixed picture. dow is up 25, nasdaq is down 53. not much change. mark grant is with us. mark, you're saying -- >> hello stuart. stuart: greetings, young man, greetings. you're saying don't buy chinese stocks period. why is that? >> period. give you a number of reasons, stuart, number one, you can't get audited financials on a number of companies. they won't provide them to you. my comment would be, in the united states, in europe, if you don't know what the numbers are, if you don't know if they're
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real or not verified by somebody, you shouldn't buy it period. number two, the chinese government which is communist party, there is no rule of law in china. there is no judicial system that is really functional. so the chinese communist party will do whatever they want to do. they have changed things noticeably in high-tech. recently also on their educational programs on the internet. it just, risk/reward ratio is way into the risk and very little reward in my opinion. stuart: tell me about america's policy towards investing and investors. do you think we're turning against investors in this country, in some way? >> no, i don't, stuart. i think the new policies, they're going after china to say if you don't have audited financials, going after really
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shell chinese companies that don't really represent the company. in other words it's a shell located in the cayman islands or somewhere. they will start ruling against those. no, i think that the government is doing relatively good job in policing the money managers and investors making the playing field fair for retail investors as well. stuart: i was thinking about taxation. i mean if we've got the doubling of capital-gains taxes coming up. that, i would think, that is anti-investor. if we move up in the step-up level on estate taxes that would affect the market, i would say that too is anti-investor. do you think maybe time to lessen our holdings of stocks if we've got a government turning against us? >> well i think the taxation issue is a totally different issue. by the way i want you to know i
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agree with what you're saying here, raising taxes like that on investors for for capital gains, estate ramifications on income is certainly a negative for investors. i've been around a long time and have had to deal with these issues before so, no, i wouldn't say that the answer, the correct answer is to get out. the correct answer is to adjust your portfolio to account for higher taxes. for instance, i like, happen to like, i have a lot of clients. they want income and yields. you can't find them in bonds anymore and so if the bonds are going to be taxes at low yields where they are now, it becomes problematic for a lot of institutions and people. i found some closed end funds, some exchange traded funds,
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exchange traded notes with you know, double-digit yields or close to them. i think that is a good place to put some money to get income and most of them pay monthly by the way. so i think that is a good option right now for dealing with the tax issue. stuart: there is a banner along the bottom of the screen, grant, never buy anything you don't understand. i regret to say some of the vehicles you're recommending i don't understand so i probably won't buy them. mark, one of these days you better come on board here tell us about a yield of 10% or even 8%, and i would take it. you can explain it. we'll see if we want to buy it. are you in for that? >> stuart, i'm happy to sit down through you anytime to go through the funds, how they work. anytime. stuart: if you're not careful, young man, we'll do it. sir, thanks for joining us, mr. grant. >> thank you, stuart. stuart: sure thing. let's go to the movers. what is moving on this market? general mills up nearly 4%. what have you got. lauren: cheer -- cheerios owner,
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general mills says higher end of its prior range. year-end demand remains elevated for their products. stuart: i used to have contact with korn/ferry which is an executive recruitment operation. i would thought they were doing really well at a time like this and they are. lauren: they reported earnings this morning. record job openings. they're trying to fill those positions, fee revenue they get paid to do that, it was a record for all lines of business. stuart: did we get any numbers from riot blockchain? they're the crypto miners? lauren: they're falling as are most companies related to the bitcoin crypto ecosystem. this is a miner. very steep losses, about 8% yesterday. this is because of the messy adoption in el salvador of bitcoin as legal tender. stuart: i'm interested in morgan stanley, one of the huge investment firms, big hitters indeed, haven't they just downgraded the whole stock market, all of it?
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lauren: the u.s. stock market to underweight. they say a bumpy fall, september, october, going into what the fed disa i hads to do with taper and interest rates. wealth management team says they expect stocks to fall 10 to 15% by the end of the year. they say we're vulnerable. the market seems vulnerable right now. talking about the megatech stocks. they just can't, they're 20% of the s&p. it takes a lot to make them go down these days. they say they will defy the logic of the market. they will continue to do well. morgan stanley likes big tech but they say the rest of the market is vulnerable. stuart: that makes me worried when a company like that starts talking about a 10 to 15% correction by the end of the year, good lord we're already into september. lauren: we've seen goldman sachs cut their third quarter gdp, how the economy will do here in the u.s. we've heard citigroup say they're cautious. credit suisse came out, said the same, a little bit of
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seasonality, the fact we haven't had a pullback so long. stuart: making me anxious. wringing my hands. 50 actually. thank you, lauren. coming up, one "washington post" columnist insists media is too tough on democrats, they're too lenient on republicans. whoa. which planet are they on? joe concha is here to take it on. cnn not happy with people enjoying themselves at college football games, certainly not. roll tape. >> i just can't get over the pictures of those outdoor stadiums. >> even outdoors where people are cheering and enthusiastic, exhaling with vigor, if there are people infected, they can infect people around them. stuart: oh, it is a terrible thing, isn't it? young people having fun. we've got the story for you, promise you. first though, illegal border crossings hitting a 20-year high in july, 212,000 people. august showed no signs of slowing down. we'll take you to the border for
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♪. stuart: not much movement on the markets. for our radio listeners, the dow down 7, s&p down two, the nasdaq down 42. show me microsoft please. they're buying video editing software company, clip champ. details not disclosed. this is the ninth company microsoft acquired this year. jeffries, the investment firm, said this morning they're raising their price target for microsoft. they raised it 10 bucks. they think it will hit $345 per
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share. wouldn't that be good? border agents are seeing increase of runners, migrants trying to evade apprehension at border. christina coleman is there. christina, do you know when we might get the august border numbers? reporter: hi, stuart. we'll get the new figures any day now. this comes in mind from record breaking numbers in july that showed more than 212,000 migrants were arrested here at the southern border and that is a big issue here that has continued for months now and again those are the migrants that got arrested. there are still lots of runners getting away. law enforcement working overtime to try to track them down. our fox cameras caught this video last night more migrants getting processed in the rio grande valley. the biggest sector of the illegal immigration crisis and no sign of slowing down. they stopped five incidents of
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smuggling in the rio grande valley, with the arrest of 34 people. they received $900,000 of cocaine and methaphetamine from ports of entry here. the border patrol sector chief tweeted late friday, smugglers tried to get away from a border patrol checkpoint with three migrants trapped in the trunk. they were taken down a wild ride in highway 7before they located the vehicle abandoned off the highway. several migrants died as they tried to get away from authorities. this video dps video, car chase in the rgv sector, fox source tells me the alleged smuggler stopped driving, a man and his adult son, the son died appeared severely dehydrated, possibly starved. monday morning a group of illegal immigrants with a woman was dropped off with a checkpoint from a illegal smuggler. she ran across the highway, struck by a vehicle and died.
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a tragedy for that woman and the driver of that vehicle. more than 212,000 arrests, apprehensions here at the southwest border in july. that is a 20 year record high. stuart? stuart: christina, that is a remarkable report, thank you very much indeed for it. we appreciate that. tom homan is with us, former acting i.c.e. director. tom, 212,000 apprehensions in july. any reason to believe that number will not go up in august? >> i certainly think the number will be over 200,000 which is still going to be a record in the last two decades. you know, they know what the number is right now. they're busy trying to spin it, stuart. they're trying to figure out how we can explain another 200,000 a month. look the bottom line they're running out of excuses, right? remember first blamed the trump administration. then they blame ad hurricanes and poverty in central america which didn't explain why people are coming from 150 different countries. blamed on seasonality.
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numbers would go down in the summer. they're running out of the excuses. now saying recidivism, people caught more than once. recidivism mass been in the numbers since 1984 when i was border agent. that is nothing new. they are trying to figure out how to spin it. it will be over 200,000. that is 1.3 million encounters this year, 1.3 million. 300,000 gotaways people in the country, not arrested. filling the dallas cowboy stadium four times. these people got in, got away. who are they? how many are criminals? how many are gang members? how many carrying fentanyl? how many are terrorists? we don't don't know. that scares me. stuart: have they taken any america sure of any kind to limit the flow, anything? >> no. they haven't slowed the flow. i've been involved with three different lawsuits. i wrote more affidavits against this president. i served six presidents. i didn't think i had to retire to sue a president for not doing
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his job. the lawsuit we won on the moratorium. shut that down. we found another lawsuit on remain in mexico. now they have to put that in place. one another on i.c.e. priorities so i.c.e. can do their job. what does the administration do when we win the court decisions they appeal them? a federal judge is saying you must do these things to secure the border, protect americans. this administration appeals that decision because they want to continue doing what they're doing. it is ridiculous. remain in mexico program, even though court ordered to reinstate it, i'm doubting what is going to happen. they will slow roll it. it requires the cooperation of mexico. biden administration do what the trump administration does, mexico, you either help, i will tariff you, i will shut down the border. we'll see how tough the biden administration will be on mexico. if anything like they did in afghanistan they will not be tough at all. stuart: we talked about this at all, tom. my conclusion this administration does not want to seal the border. they want an open border because they believe they're importing
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future democrat voters. that is the cynical view of things. i see you're nodding your head. i guess you agree with me? >> that is factual view of thing there is no other reason. there is no downside securing the border. no downside in saving lives. no downside of 31% of women not getting raped. no downside on the cartels making millions of dollars a day smuggling fentanyl in the country that killed over 90,000 americans. there is no downside. the upside future democratic voters. they returned to trump rule on census. counting census, more seats in the house for democrats, which leads to electoral college which leads to perpetual power. they sold the country out, security of our nation, sovereignty of our nation pour per get all power. there is no other reasonable explanation. if they have one, tell me. i've done this 35 years. stuart: tom homan, you keep coming back with good stuff. appreciate to you as always.
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>> thank you. stuart: change of subject. take it easy. new york and california ranking among the least hard-working states but which state is the most hard working? we are going to tell you. development in britney spears conservatorship fight with her father. we'll tell you, we'll take you to los angeles for a live report after this. ♪.
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♪. stuart: that looks like a beautiful day, doesn't it? that is milwaukee, wisconsin, will be 75 degrees and sunny. milwaukee, wisconsin, i like the look of that. check the markets. we're down for the dow, down for the nasdaq. red ink across the board. the dow off 33, 34 points. 35,066. michael lee with us right now. you come on the show because you're a stock market commentator. talk to me as a social commentator. we've got almost 11 million jobs
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openings. that is the jolts number. 10.9 million tonight. why we got so many jobs unfilled and we have some people unemployed, answer me that? >> stuart, it's a multitude of problems. the biggest one we talked about the enhanced unemployment which is running out. hopefully this number will change. we have skills mismatch. going into the pandemic we had half a million unfilled manufacturing jobs across the country. i think now what is going to prevent the snap-back and why this jolts number is likely to stay somewhat elevated is that a lot of small businesses are gone. a lot of people sitting out there saying hey, i do i want to work at best buy? do i want to be a waitress, be a bartender when i was working for this great small business around the corner that is no longer around? this recovery has been a recovery of the largest and biggest business. so you do have some of the
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smaller restaurants and kind of leisure, hospitality industry struggling to find jobs. i imagine as the year goes on a ton of those jobs will get filled, we'll see dramatic job growth but i expect the jolts number will stay elevated. the household survey, non-farm data, does not pick up people that start their own companies. if people taken stimulus checks. bought gamestop, thinking about starting their own business, that jolts number will stay elevated and the non-farm payroll number, the job gains will be lower than what is actually happening in the economy. stuart: as long as we don't start blaming everybody and calling them lazy. i don't think that is true in america today. i know you're still bullish. tell me this, if we get any kind of sell-off, will you be in there buying the dip immediately, just like you have for years, will you do it again? >> absolutely. not only me, you have 4 1/2 trillion dollars in money markets. you have $700 billion of announced buybacks.
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if you look at the state of the consumer as a whole now, debt service as percentage of take-home income is 20% less than it was pre-pandemic. saving rates at or near 10%. we're on a good footing going forward. i would say the expectations for really high economic growth were always going to be wrong. joe biden president, last time he was in the white house, we had the slowest recovery in the history of the u.s. economy but still slower recovery, more accommodative the fed will be. big businesses that drive overall indexes are going to continue to dominate and take market share. i think for your everyday investor buying holding, big cap, big name stocks, you have a good few years ahead of you. stuart: hold in there, buy the dip. thanks very much, michael lee. appreciate it. see you again. be. fascinating new data and it shows that more americans are likely to retire early. what's early retirement, what
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age? lauren: early '60s. stuart: early '60s. lauren: we're not talking about the '50s yet. you passed this. stuart: i missed the boat. lauren: half the respondents don't expect to work past the age of 62, half of people, all-time low, from the new york fed. also find a third don't expect to work past 67. you missed that boat too. we saw early retirements were really sparked by the pandemic, this is too much, taking a buyout. they have a large nest egg because of the stock market strength they can fall back on. older workers, gray hair in the work place typically make more money. that is fair to say. what will companies say their most expensive workers don't expect to work as long, retiring early? stuart: good for the company. lauren: good for the company. i don't expect that salary will go to 20-year-old. stuart: i thought we were working longer. >> some people are. stuart: i like to know everybody. i want to be in the big batch,
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so to speak. what is this about the hardest working states? who is, which is them? lauren: i would have said new york, i would have said new york because this is the city that never sleeps but it is not. it is alaska. fishing and mining are labor intensive industries. north dakota, nebraska came in second and third. california 39. new york 48, almost dead last. stuart: california and new york are not hard-working states. is that what you're saying? lauren: basically what i'm saying. new mexico is dead last. study from wallet hub, what did they look at? commute time, how many hours you work on the job. indirect work factors like work life balance, what does your leisure time look like. what is leisure time? everybody had leisure time with the pandemic. stuart: i shall change the subject, shall we? lauren: please. stuart: unexpected twist in the britney spears petition that britney spears' father filed a petition to end his daughter's 13 year conservatorship.
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william la jeunesse in los angeles with the latest. what happens next? reporter: stuart, in june, britney said in court i just want my life back? appears she will get it. spears' father jamie, says he believes britney can manage his her own life, driving her own car, hiring attorney, rationally speaking out of court, demonstrates that britney can choose her own doctor, spend her money, manage her career, have a child, it is up to here. as mr. spears said again and again all he wants what is best for his daughter, said his lawyer. if miss spears wants to terminate the conservatorship, believers she can handle her own life, mr. spears believes she should get that chance. this is major legal victory and vindication for the 39-year-old singer who refused to perform until her father stepped down as conservator. he stepped back in in 2008 when brittany suffered mental health and drug issues in her mid 20s. as you said, stuart, this was
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not expected. previously jamie spears said he would stay on as conservator until the court appointed a new one. that is no longer the case. so what's next? a hearing is scheduled september 29th where we expect britney's lawyer to file papers to end the conservatorship of her person and finances. will the judge require a psychiatric exam first. we don't know. britney doesn't want it. the father does not object. back to you. stuart: got it. william la jeunesse. thanks so much, william. coming up democrats floating new taxes on investors to help pay for their multitrillion dollar budget plan. we'll tell you how it could affect you. honoring a 9/11 hero. connell mcshane brings the story of a new york fire department captain that was trying to rescue others in 2001. he was trapped under the rubble when the two towers collapsed but lived to tell the story. connell mcshane has the story after this.
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♪ stuart: al fuentes is a 9/11 hero. the new york fire department captain was one of the few people pulled out alive from the world trade center rubble. he respectses with connell mcshane 20 years later. connell. reporter: one of only 20 people trapped for a period of time and pulled out a live when the twin towers collapsed. >> i never forget. i always say that. that is a big thing for me. reporter: al fuentes invites us into his home for a trip down the worst memory lane than you can can imagine. it is for his fallen colleagues.
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>> they were responsible for the greatest rescue in the civilized world. over 25,000 people were saved. so i look at it like it was one of our finest days. reporter: captain fuentes was in charge of new york city's fireboats in 2001. he raced to the world trade center after the first plane hit, after the south tower collapsed. he and deputy fire chief ray downey moved in, trying to help people who were trapped near the marriott hotel. >> turned up the north towers come down. i got ready for the hit, connell. i thought my days, i thought my day was gone. reporter: is that the last thing you remember? >> actually last thing i remember is ray. as it was collapsing i'm looking at ray. he has his hand up trying to help somebody come out of that lobby. reporter: downey was killed but fuentes, even though he doesn't remember it was able to radio for help. >> this is -- [inaudible]. i'm pinned.
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need to get out. collapsed unit. this is captain fuentes. reporter: eventually he was carried out with severe injuries, including a fractured skull. he recovered and years later traveled to guantanamo bay, cuba, to attend a pretrial hearing for the principle architect of the attacks, khalid sheikh mohammed. >> i remember staring at him, and just, you know, just looking at him and thinking what did you do? reporter: but now after 20 years, spending time at home with his wife eileen, al fuentes wants a new generation to understand what happened on september 11th. don't worry too much about him? >> i have a great life. my wife, my kids, i mean who is better than me. i always say that, you know. who is better than me? reporter: who is better than me after all these years, that is what he says. right where i'm standing today, the north cove marina in lower manhattan where captain fuentes
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boat came in on september 11th. you heard him reference guantanamo bay, that trip he made was in 2013. those hearings for khalid sheikh mohammed and others resumed this week. al fuentes is still on the witness list, potential witness list and may go back to cuba to testify at the trial. stuart? stuart: what a story. connell mcshane, good stuff. thank you so much, connell. show you the markets. we're taking a hit. we're moving south across the board now. this just happened moments ago. we got the dow down 150. we got the nasdaq down 130. we have the s&p down 21 points. we do have a couple of stocks moving up including amazon. that is a gainer, a mover up at the moment, one of the few. what is the story? lauren: senator warren asked amazon ceo andy jazzy for information that why the algorithm still recommends
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misinformation for covid. if you search vaccine or covid-19, algorithm pop up products or books that don't have the accurate information. she wants more information from amazon. stuart: not hurting amazon? lauren: never does. stuart: next one is mode flowed, astrazeneca, they're in the news. what is the story? lauren: down pretty sharply right now. 4% for moderna. european regulators are adding side-effects safety update, astrazeneca, arm pain, stomach pain, flu symptoms, guillain-barre syndrome. they want information how long it takes to have the reaction. stuart: overall market is down. there are growth concerns, apparently, growth rate of economy with all those unfilled jobs. now the next one is the democrats, they're considering a whole slew of new taxes to pay for this 3 1/2 trillion dollar deal that they have got going for them. can you list taxes they want to increase? lauren: what will this do to the economy, exactly, tying the two
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together. senator wyden is considering mark-to-market taxation on derivatives and carried interest, meaning that you pay taxes even if you don't sell. the worry this could be a precursor to capital-gains taxes on value of your holdings irrespective of any gays -- gains or loss you see when you sell it. tax foundation says it could reduce savings, be detrimental to the broader economy if this goes through. stuart: you have got some wealth. you aaccumulated wealth, whether you sell it or reduce it or, doesn't matter, they will come in and take a piece of your wealth every single year? lauren: exactly. stuart: confiscation. lauren: because the argument is, billionaires don't sell, they don't pass that on to generations. they don't spread the wealth, if you will. teachers, firefighters who are invested in the stock market especially since 2020, they don't have that luxury. stuart: okay. i think it is unconstitutional.
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lauren: it doesn't hold with retail investing that we've seen. stuart: this is the united states of america. we are a constitutional republic. you don't seize wealth in a constitutional republic. that is my opinion. lauren: mark-to-market taxation would. stuart: exactly would. lauren: have to pay for 3 1/2 trillion dollars in spending. stuart: i have to move on to before my head explodes on taxtation. the comic book could sell for half a million dollars in auction. ken golden tells us why it is so valuable. >> cnn note happy to see this, people packed into stadiums to watch college football. joe concha takes it on. ♪♪ oh. yeah, that's nice. can i use apple carplay to put some music on? sure, it's wireless.
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stuart: columnist for "the washington post" says the media is obsessed with not offending republicans. he wrote this, "politico" largely embraced those prevailing orthodoxies of political journalism, particularly in its early days t was beltway focused, obsessed with knot offending republican readers, sometimes resembling sports coverage, and leading
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reporters were nearly all white. oh, dear. joe concha, media watcher from the morning. seeing from the expression on his face dying to go at this. have at it, joe. >> couple things to unpack here. appears if you don't go along with the group think we see in washington and new york, those are the two major centers of media, right? donald trump got 4% of the vote in washington. 9% of vote in manhattan. if you're not part of the bubble mentality, your job is to be activist in taking on one party in the republican party or conservatives, not supporting democrats, you're the problem. that is not how journalism works. this reporter had a problem that the hillary clinton emails were reported on. again there was a criminal, fbi investigation into this. i'm pretty sure that was the story but he ranted about that being a non-story. it is opinion piece. not much to see here. it at least gives you the view of the mind into many in this business who feel they are here to serve at the pleasure of the
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democratic party instead of holding both parties to power without fear or favor to it. stuart: i know you're a sports fan, joe, i'm sure you saw this. college football packed. stadiums packed with fans over the weekend, not wearing masks, all very close together, but cnn is not happy about that. bear with me, joe. listen to this from cnn roll it. >> i just can't get over the pictures of those outdoor stadiums. >> even outdoors where people are cheering and enthusiastic, exhaling with vigor, if there are people infected, they can infect people around them. stuart: must we be terrified forever? must we always pursue zero covid no matter what so we can never have fun again, we can never be young, never go out in a crowd and enjoy ourselves? dear lord, cnn is just the ultimate wet blanket, isn't it? >> wow. pretty simple to follow the rules here, stuart.
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one cannot dane what is, what isn't a superspreader based on political affiliation of attendees or this case college kids. here are the rules which are profoundly arbitrary. mostly peaceful protests and riots last summer. told by many in media, mass gatherings were justified because the cause was bigger than the virus that was not a superspreader event but the sturgis biker rallies those were superspreader events. obamapalooza with massive indoor tent to like they could host the mtv music awards. that is superspreader event. that is bs. select live outrage marinated in more preening looks like and smells like, stuart around sticks to your boots, well-said. i was watching the wisconsin game, the college football game, i think saturday afternoon. it was a good game. i remember seeing the fans. they were packed together. they were having a grand ol' time. it made me feel good.
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i was watching, i was almost participating in the brilliant outdoor festival of sport and i loved it. last 20 seconds to you, joe concha. >> sure. gus johnson, for fox sports called the game, one of the great announcers that we have working for us and he talked about how it had been 600 something days until these college students could come see a game and actually have some fun. covid has been proven to be mainly an indoor contagion, not an outdoor contagion. you can't pick an choose what is a superspreader event. we'll see it in the nfl and college football throughout the year, stuart. this is not going away, stuart. let people have their fun. it is outdoors. many people are vaccinated. let's move ahead pretty please. stuart: thank you, joe concha. you're all right. check the market. we're still way down. look at that. nasdaq down, dow down.
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look at that, radio listeners, let me tell you this the price of natural gas per british thermal unit is just about five dollars, up 8, 9% today. very important number. we're restricting the supply of natural gas. joe biden doesn't like the stuff. it is a fossil fuel. so we're all using it. so up goes the price. how about that? that is called inflation that you can see. >> macy's take a look there, some good news. they have announced the public will be able to watch the annual macy's day parade in new york city in person. i guess that is good news. the stock though, dancing to a different drummer entirely. another big hour coming up for you. we have kate at this mcdonald, chair of the california gop, jessica patterson, market guy mike murphy. president biden is desperate to change the subject to move on from afghanistan. moving on will have its problems. that is "my take" next.
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>> kamala harris is welcome news for larry older. her numbers are underwater and she has been a disaster. kamala harris is unlikable and the detriment to coming to california. >> it is a risk on. >> tough to expand what is happening on a day-to-day basis, the market pulls back
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overall. >> the pandemic is the biggest driver of what is happening in the markets. the delta variant is probably peeking. the federal reserve is supportive of this recovery. >> the central thing affecting employment is covid and we need to get this virus under control. then we will see a lot more people go back to the workforce. ♪♪ forever forever ♪♪ we want to be together and ♪♪ >> why didn't you tell me? we are 6 feet apart. stuart: it is 11:00, look at the market. it has come back a little. we are down 160 for the dow, now we are down 78.
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134 points. any winners? that would be amazon abate bucks. all the rest on the downside. now this. the president wants to change the subject, to move on from afghanistan. president clinton successfully moved on and his party did well in the midterm elections a year later. biden is trying to do the same thing. he is out and about changing the subject. tuesday he was in new york and new jersey checking damage from ida. has remarks were about climate change. he makes a big speech on covid, has a 6 point plan of action. next week >> reporter: the to the california election campaigning for gavin newsom. a half hour from now he will extol the virtues of labor unions. biden needs to turn the page,
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and another failed presidency at hand. however changing the subject brings its own problems. the first is afghanistan is not going to go away. the taliban are holding americans hostage. today we find four prisoners released by the obama biden team in exchange for boberg the run the taliban government. the team-leading afghan headlines will not go away. second problem the issues he's moving on to like $5 trillion worth of spending, that to bring more inflation, not popular. consumers are shocked that grocery and gas prices. on climate change biden will impose huge costs on americans while big polluting china looks on and laughs. problems wherever he turned and some of his own making. he won't be changing the subject to the border or surging crime or terror threat.
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the president wants to move past afghanistan. voters won't let it. we are just getting started. we have with us the guests who is ideally suited to respond to mister biden trying to move on, kayleigh mcenany worked under donald trump. when you were working do you think the strategy of moving on and changing the subject, is it going to work for the president? >> ordinarily for a democrat president i would say yes. the press never let donald trump move on from anything. democrat presidents usually fare better on that front but with a situation like afghanistan where the faces and names of these americans left behind, pregnant girl who tried to get to the airport stranded, a mother of 3 who managed to
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make it out for no help from the federal government. it is bad in afghanistan, and covid, from one disaster to another. >> politico's west wing playbook when biden gives public remarks some white house staffers will mute him or turn off his remarks. they are filled with anxiety, take questions from the media and rear off the west wing's carefully orchestrated messaging. were you ever anxious when he walked out to meet the press? did you are from utah mike? >> i never muted it. i saw the headline and was stunned by it. maybe don't take questions from the tough new cycle but he relished those days and liked taking questions. >> you would say to him watch
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out, might be tough out there today and he never came back. >> he loved it. he was a brilliant messenger, the way he would pivot, weeks later, that is why he did that, a great communicator and good at reading the political temperature. >> donald trump and enormous energy, he worked constantly and always had that move. one next ordinary contrast with president biden who lacks energy. i have been questioning his cognitive ability. a difficult thing to talk about.
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would you address that? >> he said something to the effect of tornadoes, we don't call them that anymore, don't know what we call them. he mentioned bringing down emissions by 2020, we are in the year 2021. his cognitive ability is questionable the contrast that with donald trump, 5-day rallies, can barely keep my eyes open at the fifth one. as you mentioned with gusto and energy. stuart: donald trump scheduled rallies in georgia and more importantly iowa, that raises eyebrows, what do you think the former president is up to. >> focusing on the midterms in 2022 which he currently is but the iowa rally is indicative, why would you go to iowa for a huge rally if 2024 is not on your mind. stuart: hinting at a run in 2024. the change i think it is a good bet but that is my guess. stuart: i will leave it there before we get in trouble. we will watch you on outnumbered today, you will be there. good stuff.
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earlier today we got an extraordinary number called the jobs number. it measures the number of unfilled jobs and this morning look at that. open in july, that is an all-time record. why aren't people going out to take those jobs? >> a lot has to do with hand out there getting from the government. received stimulus checks, and an uber driver, lower income jobs are a big part of the workforce, big part of keeping our economy going. the more handouts people get if they earn more money by staying
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at home, to take the place to get companies to operate. stuart: for the first time in many years i disagree with you. sorry about that but i do. i think people are not going back to their old jobs, not going back to work for a variety of reasons, some people didn't like the job they used to have. some people have moved to a different state, moved to an entirely different occupation. what i object to is our people are lazy. i don't think we are lazy. i don't think that. >> fair point. all this points well said. it has more to do in my opinion that it is not necessarily lazy, people talk with their pocketbooks. people understand the value of the dollar whether they are high income earners or low income earners that they stay home for more for staying home,
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they are going to do it. if people don't like their jobs a lot of people have jobs before covid that they didn't love but in this country unless you grew up with a silver spoon your mouth you get up in the morning and go to work and have an opportunity to get a different job or move to a different state but you need to have a job, need to have income the doesn't come directly from the government or you can't eat. stuart: that is a fair point. mergers and acquisitions. will we see a lot of it. that could help the market. >> that is the next push coming to the market aside from strong earnings backdrop. you've seen $1.8 trillion worth of m&a activity, 4 trillion globally. look at big tech, they get bigger a stock break increases with more cash on the books, they are going out to acquire
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companies, buying growth with stock and cash and we are seeing it as there's a lot of negative press but a lot of big corporations like pepsi, general motors, palantir which has come public which invested in private companies coming to the private market so you see companies that will partake hoping to invest in the next microsoft or palantir which will help the earnings grow further in the future. the m&a is positive for the overall markets and public markets too. stuart: mike murphy still bullish after all these years, see you again soon. a few, a half hour ago the dow was down 150 points. >> down 175, goldman sachs,
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boeing and nike if you put the three together that is why the dow is down negative 122 points if you look at the distribution that way, the dow is down 3 days and are, there's a feeling that coming into the fall, need to reevaluate the high valuation. stuart: it moves fast down 175. next time you look it is down 50. that is why we are on television. on your screen, a spiderman comic book from 1962 hit the auction block, the current bid, 475,$000. we will tell you what is so special about amazing fantasy. president biden gets heckled for abandoning americans in afghanistan.
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>> leave americans behind, leave americans behind. stuart: congressman ronnie jackson working to bring standard americans home from afghanistan. vice president harris on her way to california campaigning for governor newsom, newsom will not be recalled. the chair of the california republican party takes that on next. ♪♪ ♪♪ incomparable design makes it beautiful. state of the art technology makes it brilliant. the lexus nx. experience the crossover in its most visionary form.
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stuart: the final countdown. it is the final countdown to the recall election in california. 62 degrees, the election is less then a week away. vice president harris is on her way to california to campaign for governor newsom. the gop chair in california joins us now. the book is newsom is going to win. why are they wrong? >> it is people that vote. the california republican party mobilizes voters. a few months ago we were discussing whether the recall would even qualify. to be in the position we are in in california we have seen a huge movement taking place and californians are waking up to what this governor has done to our beautiful state.
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stuart: still fighting an uphill battle. you are trying to pull off a miracle, trying to pull off an electric statewide office in one of the most liberal states in the nation. that is an uphill struggle. >> it really is. we are out registered to to one and governor newsom has raised $65 million to fight back this recall. we are out resource and out registered but what they don't have is the will of the people. we have seen the fourth congressional seat last cycle or the statewide initiatives california voters aligned with republicans and not democrats when it came to the issues, californians are starting to see other alternatives. i never shied away from a challenge. stuart: everybody can if they wish vote by mail. i would have thought that
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favored the democrats because they have an overwhelming advantage in registration. if they vote easily they will vote for newsom. that is part of the struggle. >> in california we are looking at momentum and enthusiasm and that goes for the yes on the recall side regardless of partisan affiliation we are seeing californians of all political stripes excited to vote yes on the recall. trying to turn out voters to save gavin newsom's job they have a challenge on their hands so enthusiasm will be critical and that is what we are working on in california. stuart: do you think vice president kamala harris or next week president biden will make a big difference? >> i think it is appalling they are coming out here to california to try to save gavin newsom's job while americans
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are stranded by this administration in afghanistan. we have 12 schoolchildren from california that are stuck there. i think it is appalling that governor newsom asked them to come out here. they have a lot on their plate and they should be focusing on that, not trying to save gavin newsom's job but it is a clear sign that he is worried that his base is not going to show up for him and that is because he has failed on every level in california whether it is homelessness or poverty, affordability, getting kids back to school or the wildfires, what he was working on with prevention and then lied to us about. california is literally on fire and gavin newsom isn't worried about fixing problems with the unemployment department. bringing back californians stuck in afghanistan. he's worried about saving his job. stuart: don't know if you saw this but the state department just issued a warning that california may be too expensive for afghan refugees. do you have a response to that? >> too expensive for regular californians.
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we have seen a mass exodus in our so much so for the first time in our history california lost a congressional seat. this is because of the policies of california democrats. they had super majority legislative houses and the governor's seat, they ruined our state for the middle class and when californians can't afford to be here it is not surprising political refugees could not afford to stay here. stuart: we will be following the election and checking the price of gasoline, $4.40 for regular in california. good luck with that, thanks for being with us, we appreciate that. we've come all the way back in the space of 45 minutes down 175 and now down 47. nasdaq holding onto a triple digit loss. bitcoin, we have a research
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team, a respectable organization said bitcoin will hit 100,$000 by early next year. it is at 46. staying on bitcoin it is considered legal tender in el salvador. ashley webster with us, where are people spending bitcoin in el salvador? ashley: mcdonald, pizza hut, starbucks, despite criticism from other countries and financial institutions all this is happening too fast el salvador is forging ahead with bitcoin which is officially legal tender and so far reports say transactions of been fast and efficient with use of a digital wallet and lightning network. they are racing to get the system set up and a big attraction is the fact that the retailer gets the full amount and doesn't have to give a cut
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to the credit card company so so far so good for el salvador. stuart: very interesting. they bit the bullet. i know you are a sports fan. we share an interest. you see this about people bidding heavily on sport this year using mobile devices. you've got some numbers for us. ashley: i have big numbers, 45.2 million americans expected to bet on the nfl, 36% increase compared to last season. a big reason illegal sports operating in half of the state in the country. 32 states overall have passed some sort of sports betting legislation. the nfl partnering with 7 sports operators in the us and for the first time allow sports betting commercials to air during game broadcasts but limited to six commercials
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total to avoid oversaturation. according to the american gaming association, 19.5 million adults will place a bet on the nfl online this season. that is up 73% from 2020. a lot of that will happen in the stadium as well. they will make bets on the fly. stuart: and in the bar. i was in a sports bar the other than the guy was sitting next to me, he but $25 who would score the next goal. ashley: hope he was betting on bryden. stuart: let me explain that ashley was almost a professional football player for brighton, premier league team in england. you made the right choice going to television. thanks. now this. you could soon walk out of the whole foods without ever standing in the checkout line. amazon is expanding its
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cashierless technology in some cities. we will tell you where. congressman ronnie jackson helped an american family safely evacuate afghanistan. he claims his team had no help from the state department and is mad about that and he is on the show next. that's a nice truck. yeah, it's the chevy silverado. check out this multi-flex tailgate. multi-flex, huh? wow. it becomes a step. mom, dad's flexing again. that's not all. you can extend the bed for longer stuff. is he still... still flexing. that's right! and, it becomes a workspace... you can put your laptop here. i'm sending an imaginay email. hey dad, dinner! hey! look who stopped by daddy's office. wait, you work here? the chevy silverado with the available multi-flex tailgate. find new flexibility. find new roads. chevrolet.
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stuart: a little stevie wonder, it will be 78 degrees, downside move for the dow. the nasdaq is down 170 points. we are opening new whole field stores. ashley: in the la suburb of sherman oaks, california just two but the first time amazon will move cameras and tracking centers in a whole foods allowing shoppers to grab what they want.
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self checkout lanes will be available for traditional payments. amazon said they are not job killers even with the technology. amazon says it will higher, will have different roles something shoppers in the aisles or encounters instead of standing behind the register. stuart: i'm not that old-fashioned. a man of modern times. i have serious stuff here. breaking news on evacuation flights out of afghanistan. what can you tell me? >> reporter: quite an interesting development. the taliban was blocking evacuation flights from northern afghanistan. the us state department according to a leaked email the
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charter flights aren't being granted permission to leave and ultimately land at us bases or other third-party locations because of the us state department. state has a reason for acting this way. according to a senior us official there is no way to verify who is on these private flights, they are in control of security. anyone boarding a flight from afghanistan, in the northern part of the country is only being vetted by the taliban. secretary of state anthony blinken did address this yesterday. where do things stand and where do they go? with the couple airport not operational, the international commercial flight many people are fleeing on foot. neighboring pakistan has seen an influx of refugees with the interior minister saying will be set up along the border. displaced afghans living in the country. the bottom line, thousands
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still trying to flee afghanistan, locals and foreigners and you see the situation deteriorating quickly with taliban fighters firing weapons into the air to disperse crowds and people. stuart: now look at this. four people in this photo are us citizens and they were evacuated in afghanistan. congressman ronnie jackson, you helped organize the evacuation but the state department is trying to take the credit, that must make you mad as hell. >> makes my blood boil. after the incompetence from the state department they fall in on this. they had nothing, nothing to do with americans out of there. these are the only four americans who left the country since the 30 first of august when we pulled out. hundreds there can't get out.
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they are saying they facilitated the constituents from texas to get out. they didn't know it was happening and they jumped from the embassy and they greeted them as they crossed the border and taking credit for it. their narrative they are building is evidence we have a plan to get americans out. we got four americans out, we have a plan in place and are doing it. it is a lie by the state department. stuart: we heard the state department is the state department which is holding those private evacuation planes in the northern part of afghanistan. the state department is holding them, not the taliban, on the grounds that we don't know who is on those flights. what is your response? >> they irresponsibly left the country and stranded these americans in the middle of a bunch of terrorists. they don't know who is on these flights because they are not on
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the ground. that is a requirement for them to get american citizens, to make sure they had people from the state department or the military there's so they convince these people, what do they expect these people to do? this is insane, they have no options. everything a day the place gets more dangerous. my constituents told me they went to the airport, the third day there were people that disappeared, people are being yanked by the taliban and isis in the most radical elements taking over the taliban. a powder cake, get our citizens out, better do it now, stop making excuses, send them somewhere else, put them in a third-party country, figure out what to do with one's you can't that and get them out now. stuart: what would you say to anthony blinken? >> the american people are not stupid. we can see we are being lied
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to. tell us what your plan is. if you don't have a plan step down and let summit with leadership ability step up to the plate and get the job done. stuart: president biden is trying to change the subject, trying to move on from afghanistan. >> if it weren't for the fact the mainstream media works for the biden administration he's counting on the mainstream media to start focusing on other issues and stop covering this so the american people to forget it is happening and wants us to focus our attention on the new green deal and billions of dollars they want to spend of kids and grandkids money while people in afghanistan are being held hostage and hunted down by the taliban and isis. they are looking for people and it will get worse as time goes on.
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stuart: appreciate it. the cdc just added two popular islands to its travel risk list, details with the latest tsa numbers. the original sonic the hedgehog game sold 15 in copies worldwide so why is this game selling for 130,$000 at auction. ken golden is the auction guide next. ♪♪ ♪♪
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your strategic advantage.
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stuart: look at that, new york city, sixth avenue and more traffic on the street, that is
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a bit of a comeback, fairly sunny later on. we play that song because in a report claims facebook could be spying on users. what is going on? ashley: and a report claims facebook's and gifted messaging service especially in europe. they read messages sent by users. according to a report facebook is paying more than 1000 contract workers around the world's, the message that are supposedly private and or encrypted. the report claims the company shares private data.
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and the contents were flagged, with algorithms. it raises questions about the privacy of what's apps. do we have any privacy these days? absolutely not. stuart: online video service is being out youtube in average watt times. what is the? >> it is tech talk, they watch 24 hours of content compared to 22 hours and 40 minutes on youtube, 26 hours, 16 hours on youtube but the numbers only include viewership on android phones but shows how quickly the video format was taken off in a few years. youtube has 2 billion users to pay for tick-tock's 700
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million. youtube very popular. of the one i am a youtube kind of guy. look who is here. ken golden. can usually brings us sports memorabilia but is moving into video games, comic books and trading card games. that is the introduction. tell me about batman number one, i can understand why that is significant but how is it going for? >> that is iconic, the first issue batman from 1940. it is high grade when we think a brutal these things work, people had no idea, 80 years ago when it came out, the bidding on that has exceeded
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900,000 and we expect it to go 1.3 million. stuart: you stretched away from the sports -- >> the comic with the first appearance of spiderman, amazing fantasy. how much? >> this is an incredible issue, the first appearance of spiderman, opened up what is known as the silver age of comic books and the flagship issue for him marvel. it is 8.5, we expect 700,$000. stuart: let's move on to super mario 64, the videogame. i want to see what is special about that.
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>> this is an unopened nintendo super mario brothers, the highest possible grade which is 9.a plus plus it is a rarity, this became the mainstay, never one of video games for nintendo. expect us -- stuart: the sonic hedgehog videogame is pristine. >> don't go rummaging through your house thinking you have millions of dollars of video games. only a small portion, there have to be factory sealed early addition. this is a factory sealed sega sonic the hedgehog, a blockbuster for them and we expect this one to be in the 300,$000 range or greater.
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stuart: the pokémon card. which card is it? >> the most powerful of all pokémon, psa 10, in demand, the one logan paul worked with when he thought floyd mayweather, a good luck charm, we expect this to go in the 300,$000 range. stuart: how do i get into the auction. i will give you a commercial. >> go to golden auctions.com. it is live right now on our website and there are comic books, video games, trading card games. stuart: that will be 30,$000. we will see you soon.
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back to the market, we've got sound again, the dow is off 125, we are below 30,000. next case, the plane market is booming, so many want a private jet above the asking price for used planes. got the report from illinois next. ♪♪ ♪♪ ♪♪ trying hard to look like gary cooper ♪♪ superduper ♪♪ hey google. ♪ ♪ ♪ ♪ ♪ ♪ if you wake up thinking about the market and want to make the right moves fast...
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stuart: the rhythm to that song, flyer, looking at philadelphia international airport. the tsa says 1.6 million people pass through checkpoints yesterday down, air travel is slowing and there is this. the cdc warning against travel to jamaica, sri lanka and brunei reporting high levels of covid. air travel is indeed starting to slow, private jets gaining popularity.
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like buying a house, above the asking price. >> it is like real estate, used cars. i was surprised to hear that because i'm not in the market for a used private plane but a plane like this one would have gone for 3 and a half million dollars a year and a half ago, now it is going for 5 million. nobody knows it better than the owner of chicago jet group here, sales have been crazy. >> people are paying over the assessed value. there is shortage and people want these airplanes in. you have two customers and can't find them. brokers saying the airplanes you have in inventory do they want to sell? it is becoming a real problem.
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>> a lot of people expected once covid hit people would fly private, it would peek and drop off but that has not been the case. >> it has continued to grow and that supply of customers forced prices to go up, supply and demand. the charter rates of gone up from there. >> reporter: when you see the inside of a plane like this when you see why if you get a taste of flying private you might stick with it and never go back to commercial again even if you are flying first class. stuart: once you go private you don't go back if you can avoid it. it is now 11:54, time for the wednesday trivia question. in what year did henry ford build his first car, the answer when we return.
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♪. stuart: all right. we just ask you in what year did henry ford build his first car? the answer is, i got it wrong, 1896. it was called the q-uadri cycle. he was 32 at the time. he sold the vehicle for $32. he repurchased in 1904 for 65 bucks. it is on permanent display in the henry ford museum in dearborn, michigan. we're getting more from second secretary of state antony blinken. he is saying the taliban will
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not allow the planes to get off the ground in mazar-i-sharif in northern afghanistan. these are privately organized evacuation flights. blinken says the taliban was holding things up. we had been earlier reporting it was the state department holding things up. you have a conflict there immediately. blinken also says he and the state department are doing everything he can to get the flights off the ground, got that. we're waiting still for president biden. he did come out apparently. he started his presentation on unions and the need for unions and the value of unions. my commentary has been that the president wants to change the subject from afghanistan. whatever you do, don't talk about afghanistan, talk about something else that's positive. so now he is talking about unions. tomorrow he will offer a six point action plan to combat covid. that is changing the subject but that is just my opinion. quick check of the markets show
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that we've gone south all over again. we had gone down 175. came back to a very small loss. we're back down again, off 155 points and the nasdaq, telling you big tech is really taking it on the chin today, nasdaq down 155 points. you're back to 15,200. i'm afraid that my time is up. it has been a great he should. let me hand it over to neil cavuto. sir, it is now yours. neil: thank you, stuart, very much. we're monitoring the president. in this meeting with labor leaders and all. the focus is on jobs. that is one thing he is going to be laser focused on, part of the strategy behind pushing that actually 4 trillion-dollar human infrastructure plan to say nothing of the one trillion dollar infrastructure only plan but this is part of a multiday effort to look at domestic u.s. considerations, not so of what is going on abroad. a lot of confusion in afghanistan. we'll get into that in just a second but the democratic party

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