tv Varney Company FOX Business October 12, 2021 9:00am-12:00pm EDT
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urban crime. it is shocking. maria: great to see you, have a great day, "varney and company" begins now. stuart: you are the hardest working woman in television and we we seeing you very shortly on this program. good morning. one hour from now, how many jobs are available? it will be a hide number above 10 million, that shows labor shortages but does not answer the question why so many people, this labor shortage makes the supply chain problem much worse. max mandate, the governor of texas mandating in the state, president biden insists
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companies with 100 employees or more, everybody must get the jet. the covid caseload continues to decline down 24% over the last two weeks, death down 10%. vaccination may have to do with the chaos at southwest airlines, 2000 cancellations on holiday weekend, 80 or more canceled today, it is because of the vax mandate. the airline, southwest is based in dallas, texas and the clash is coming over the vaccine mandate. energy price inflation, oil holding above $80 a barrel, gasoline averages $3.28 a gallon $0.08 from a week ago and up one dollar and $0.10 from the price on this day.
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interest rates holding steady, one.60%. not much action in stock, the dow is up 30, nasdaq up 40. bitcoin coming in at 50,$000, jamie dimon says bitcoin is worth it, his customers want it. paid child actors for her space video, kids had to auction for the role, addition i should say. they had to audition for the role and the production company that made it, it's name, sinking ship entertainment. tuesday october 12th, 2021, "varney and company" is about to begin.
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♪♪ welcome back ♪♪ welcome back welcome back welcome back ♪♪ stuart: is that for me? i have only been away two days. >> must of been a long two days. i had fun with ashley. stuart: hope the audience did. we have been talking all the companies they should maxine -- vaccine monday, texas bucking the trend, the government signed an executive order banning vaccine mandates for private companies in his state. the vaccine is safe and effective but should not be forced. >> let it be known i miss you. regardless of whether or not this is the right move this is definitely setting up a fight in court because you have a state law in texas where the
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biden administration i literally polar opposites was where does this go? the supreme court. federal state interaction, the federal can have a law that is more strict than the state law but what happens in this place when it is a yes or no decision, so many companies are federal companies, so many reports on companies leaving california for texas. they are multinational corporations but they will be faced with how do i handle this, what do i follow, you know how this works with one court will say one thing and another says another thing back and forth back and forth and supreme court has to decide. it will be fascinating. stuart: people will be fired. people will not be going to work, everything is limbo as we go through the court system. southwest and these cancellations, 2000 over the
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long holiday weekend. what is the situation with southwest? >> 87 flights canceled this morning. they say tomorrow morning, as you said 2000 flights canceled, passengers are stranded, waiting in airports, renting cars and we have yet to hear a good reason for the chaos. likely a confluence of reasons, big demand, some bad weather. ceo gary kelly says it is not because of pilots protesting the vaccine mandates but it does raise the question whether mandates and businesses can coexist in this economy. this creates such a trust problem just before the holiday season. are you going to book to see her friends on southwest? you will never get there. stuart: i out into the question but many people will say not doing it.
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come back in, todd. i to talk about the numbers we will get you in one hour. the latest job openings, the jobs report. why do you think so many people are staying home? >> reporter: free money started this problem but at this point it goes beyond 3 money from the biden administration. that allow people to see they could get by unless and when it is coming free from the government but there's the subset of able-bodied workers who let me be clear about this, who don't have the same concern as immunocompromised individuals when it comes to the virus. these individuals are saying i'm too scared. i understand if you are in an older age category or immunocompromised but if you are in able-bodied healthy individual, think back to world war ii. pretty sure my grandfather and other members of the greatest generation didn't necessarily want to spend as we for your vacation in europe or japan. i am pretty sure they were
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pretty scared but they did what they had to do because that is what was required of them. we are fundamentally a capitalist society. you have to work to provide for yourself and your family. for them to sit on the sidelines is the problem. stuart: there is a large group of people who don't want to go back to the way they worked before the pandemic. something in the pandemic changed them. they are exercising their free will not to work and they can afford to not go back to work because of the free money and the rally in the stock market which is getting a lot of money to a lot of people. you are ignoring a large group of people who have changed their work habits was a lot of people in our audience will be part of that group. >> my concern, we know stock market money is on paper and let your cashing out and taking profits off the table that is a risky proposition especially if you are somebody my age who may
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take profits off the table but you have no retirement especially if you decide i'm done with work. stuart: i am sure we will engage in this debate. back to energy price inflation. start with the price of oil, dipped below $80 a barrel. show me natural gas, that is down this morning, $5.24, 328 is the national average up $0.10 in the month. david nicholas joins us. it is not just gas prices are food prices going up. inflation is here and real. when does the stock market react to this inflation? >> corporate earnings, let's not get complacent. we have real issues to work through. 15 have supply chain issues, 14 have hiring issues and can't get people show up. it is a big deal when it comes to energy.
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there are spillover effects, to get to the beach or to florida, we are paying more for the ticket. right costs go up, the cost to grow food, even to package our food, resins that are toxic, that will show up in corporate earnings but ultimately it is an attack on the consumer. side of the administration saying no one who pays $1,000 to pay tax, we are paying more. the most dishonest tax in us history. stuart: when does the stock market react to the rising tide of energy price inflation and other forms of inflation? >> this third-quarter earnings could be the most important earnings in us history because the market is battling more than it had to battle in a long time so if the market can cut through this and prove successful in earnings the market is headed higher.
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this will show up in this current quarter earnings report, put a ceiling on the market. we are not selling everything but taking 25% off the table. we think that is prudent. stuart: now you see you save the best to last, 25% off the table. stuart: put the best ride front. we talked about the surge in natural gas but we also bring other commodities or products going soaring like it aluminum which goes into everything. >> it is often called solid electricity because it is so energy intensive to produce and because of the high energy costs, can't just turn on production to meet big demand so many of them aren't. prices likely stay higher so we
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can try to meet demand but it will be a tough one. david nicholas said it perfectly. this is the time companies are going to be put to the test. how high can they raise to prices before consumer say enough is enough. stuart: good stuff. look at futures, tuesday morning. a few minutes before the market opens we see some green but not much. vice president harris facing criticism for using child actors in a video for youtube series about space. >> you are going to literally see the craters on the moon with your own eyes, with your own eyes. it is going to be unbelievable. stuart: the kids had to audition for that. i thought the vice president overreacted but that is my opinion. maria bartiroma in del rio, texas talking to migrants, a live report after this.
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stuart: nearly 1000 migrants are arriving at a camp in panama. they board buses to costa rica and make their way to the southern border. griff jenkins is at the come. one of the migrants telling you? >> reporter: those thousand migrants should be coming any minute, coming from 3 hours downriver from where we are in the migrant camp. this is the point they come
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after the deadly gap, walking around this camp yesterday. important to note that every one of the 15,000 haitians that were under that bridge until rio came through here first. that's how far the border crisis extends. the migrants pay $25 in a boat to get here and and $40 to get to costa rica but it is that journey through the deadly jungle that is the toughest stop of their trip to the us. we talked to one of the migrants named junior about his trip through the jungle. here's what he told us. >> we saw dead bodies, so many dead bodies. i was really shocked when i saw them and just forget about it. we have to focus and do what we had to do. >> reporter: if you do a little
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better math because i know you like numbers, it cost $25 for a boat ride to get here out of the jungle, $375 per boat, the boats running all day long and the buses at $40 a pop going to costa rica, those are running all day long. they live without 500 people out of here day and another 500 to 1000. this is a pipeline that is surging at unprecedented levels. we do know the us is sending in undersecretary of state who is the undersecretary for humanitarian affairs cummings on panama to thursday to meet with the president. unclear if she will come here but i suggest she does because this is an important pathway, if you're going to stop it at its root cause you need to come right now as we are speaking. i can show you coming over my shoulder here is one of those giant buses that will come down
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and it will go to this area where the migrants will begin lining up soon to get on and head north on their journey to the us. stuart: a great report. let's bring in maria bartiroma who is speaking to migrants at the southern border. what are you seeing down there? maria: let me pick up where griff left off because many of those migrants when they get to mexico will have to deal with the mexican cartels and the mexican cartels will charge 8 to 10,$000 a head to get across the rio grande and into mexico. the mexican cartels are becoming billionaires. they are making out like bandits. that is what they are. they are deciding who comes into america and who doesn't because the rio grande is so narrow, the river is so narrow and not deep at all. it is up to your waist or below
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your chin, it is easy to cross across the rio grande and get to the border in texas. many of those people are just giving up. stuart: a lot of those migrants can't believe they got 8 to 10,$000 so when they get to the southern border they get into america, cartels push them to the border, they get into america and then they get work and have to repay the cartels 8 to 10,$000, that's a form of indentured labor. >> it certainly is an they are hostage to the mexican cartels and all they pay up. interesting point i learned on this trip. i've been to the border before but on this trip there are american citizens helping the cartels, they are the getaway cars for people coming over the border and they are learning
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about the mexican cartels and the business opportunity through tick-tock so the mexican cartels are advertising their services on tick-tock saying we need a getaway car in texas, call me, giving those people $1,000 to be the getaway car, charging migrants 8000 to get them here and 8000 is below end, they are going all the way to 30,000, 40,$000 depending what country you're from so it is more than 8000 but the migrants i ran into yesterday said they paid $8,000 and our meeting a getaway car, more often than not an american citizen who wants to make a buck and working with the mexican cartel. absolutely extraordinary. that is the human trafficking end and there are also a lot of illicit drugs coming through, fentanyl killing our people. stuart: great report and more from you tomorrow unless you stay there. thanks very much. take a look at this video captured by the fox flight team. thousands of steel panels which had been intended for the
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border wall lying around not used. how much is it worth? >> reporter: $100 million, already paid for and it is baking in the sun. it is enough to build 100 miles of border wall but that construction put on hold by the administration and contractors being paid $5 million a day for work they are being told not to do. there is material we need for the border wall. stuart: it is almost politically impossible for president biden to reverse his decision. maria: his party will not let him. stuart: back to the markets briefly. 8 minutes to go and the nasdaq will be up 60 points. "the opening bell" is next. ♪♪ treasure not make that is what you found ♪♪
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when will the stock market, energy price inflation? >> great question, this will back we have seen, the price of oil and gas and natural gas, the price consumers paying at the pump is impacting or going to impact consumer spending. you are going to see people get hit in their pocketbooks. this is a tax on the american consumer. as long as prices continue to move drastically higher i don't think it will impact any further. stuart: one of our guests said he was concerned, taken 25% off the table, gone to cash. you wouldn't go that far?
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>> we have studied this in my 26 years back 100 years, it is tough. this pullback we have seen is as bad as it gets. may be another 5% to take your money off and back to work, best treated when it is invested in large-cap us growth names so you are not getting me to change it. stuart: are you sticking to your story with uber? you are in the money a little bit but not as much as you thought you were going to make? >> up 82% on the over position so uber has a lot of levers to pull so not only the delivery, taking customers from point a 2 point be. watch what happens, i think uber is the next big tech
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winner and it is $100 a chair. stuart: you guys by a lot of stocks when they emerge into the marketplace. is there a company you bought big and have since sold out of entirely? >> in the private market we report to our limited partners and investors, we had some telemedicine names we were involved with. roman was a name we broke. we were in early and stock exploded, we saw an opportunity to sell in the private market so that is where we were in early, huge moves to the upside so we sold but still believe in the company and support the company, but for our investors it is nice to return them some of their investment. stuart: after all these years
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are you a billionaire yet? >> i am having a great time making a lot of money for investors and a great time doing it. stuart: who is advising you not to answer the question? always good. see you again soon. 5 seconds to go. we open the market, tuesday morning, we will see a little green from the start but doesn't look like a huge move either way at this point. no guarantee how the market closes. it is a 12:45%. the s&p opening higher, one 12:45%. the nasdaq composite one third of one%. big tech all in the green except facebook which is down $3.
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0.8%, susan is big on percentages. jpmorgan and blackstone kickoff earnings tomorrow, advice to an impact on inflation on bank earnings. there is a company, a german biotech company down 9%. they shelved plans for a vaccine. >> by the time it arrived it would be too late. the eu is not going to give fast-track approval. times against them and it wasn't that effective anyway. 48% protective against covid. pfizer and moderna -- stuart: like the chinese vaccine. >> i want to show you my. we expect fda approval of that covid pill, awaiting the booster shot approval before
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the fda panel thursday. stuart: a booster shot approved and make a lot of money. moderna at $3.15. you are the expert. >> $800. >> you are the expert on tesla, give me the news. >> 56,000 cars sold in september. the chinese electric car market. this solidifies elon musk as a dominant ev maker. they really ramping up. the biggest month for them that they open shanghai. 30,000 cars with a different factory, - stuart: the iphone is regarded
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as a premier brand. tesla is regarded as the brand for electric vehicles. >> elon musk has proved you can win in china as a foreign competitor. stuart: an expert on nike. tell me why goldman thinks the stock is going to bounce. >> underperform the last few months or so, the sports apparel, these calls for boycott and $172. to underperform the s&p. stuart: i didn't recognize its underperformance. >> they benefit from the wellness trend, and the casual station, casual wear.
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stuart: that is a good point. i notice more casual clothing around. far fewer guys in midtown manhattan in 3-piece suits. >> and you are springing for the light at some point. stuart: any upgrades? >> jack dorsey's other company, from atlantic equities, $300, proving very popular with crypto and this is the better company in jack dorsey's portfolio with more growth potential. credits lease, way bullish on the casino stock, double their price targets doubling the price targets, $68 because of this juggling in the real estate portfolio and healthy cash flow. stuart: told that vegas is absolutely packed.
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>> conventions important and we are seeing people do in person events which is really encouraging. stuart: the jewelry chain known as signet, they've got -- you are laughing. >> we are talking diamonds direct, $450 million deal, diamond is a girl's best friend, a man's best friend as well playing both sides and demand for bling picking up again, splurging, diamonds direct for 90 million but raising sales guidance for the second time this year in a matter of weeks. stuart: austin tatian bling is back. >> giftgiving as well, cherry-red ability. >> how can you tell the difference in cubic and real
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diamonds, don't have a looking glass. stuart: you wouldn't pay for that diamond. >> if a woman found out the engagement ring was cubic circo neo. >> a man found out it was cubic the coney a. dow winners on the screen headed by nike. >> a deal with gm bible talk about in later hours. >> an upgrade - stuart: mgm is not up because of huge surgeon in gaming. >> i believe from credits lease will double your money. stuart: nasdaq winners. it is important to note it is about earnings and if you look at specific the return there is a record high in terms of
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people going back in. the wall street journal page. >> that is an important point. big board, 10 year treasury yield has one.60%. the inflation scare, 57-8, natural gas, going to the list, 531. that is way down from the price a week ago. the average price of gasoline going up gradually. in california the same gallon of regular gas will cost you $4.44. you are never too young to stand up for what you believe in the so watch this. >> reporter: you know about that. stuart: you have to put that on
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screen. i thought it for you, quite dramatic. we will introduce you to the 13-year-old fighting back against critical race issues in her school district. she's going to join us next hour. bitcoin is worthless says amy dimon -- jamie diamond. they put a lot into crypto. should miami be concerned. larry kudlow will join us, why so many people stay home when so many jobs are available. ♪♪
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only do i get all this coverage that includes prescription drugs, but humana has a huge network of doctors and hospitals. i can get telehealth coverage, a silver sneakers membership, and i stay covered in emergencies when i travel. whether we're visiting the grandkids or going on vacation. a humana medicare advantage plan can give me all that for as low as a $0 monthly plan premium. humana went above and beyond to get to know me, so i can find the medicare advantage plan that is right for me. and that might be the biggest benefit of all. so give humana a call, or visit their website. talk to someone who will take the time to help you, and get your free decision guide. humana, a more human way to healthcare. stuart: you hear a lot about this these days, stagflation
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refers to rising prices and stagnant economic growth was a and in jimmy carter's time in the 1970s. it is now coming back. edward lawrence joins us. how to be fixed the 50 years ago. >> the federal reserve stepped in and adding accommodations. to slow down on the inflation, starting to hear those comparisons with jimmy carter and stagflation. necessary items are not on store shelves in some cases, rising oil prices the biden administration take same at fossil fuels and this is the number of jobs added back to the economy, july, 1.1 million, august 366,000, september 194,000, you see the trend. inflation is picking up speed. cpi inflation at last check was
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5.3% and is not appearing to sort itself out at this point. the federal reserve chairman testified that it is getting worse. stagflation is usually appear go of high inflation with declining economic output. the 1970s, double-digit inflation and oil supplies as the us became more reliant on middle east countries. that is happening now as new sources of oil are slowed in the us, the administration turning to opec, asking them to increase production. goldman sachs says stagflation is one of the words most commonly used by clients over the last few months and this is something researchers are starting to look at closely and why the federal reserve chairman left open the door to raising interest rates if inflation gets too high or too uncomfortable for the federal reserve. stuart: what is too high, what is uncomfortable? i remember paul volcker raising the discount rate one full
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percentage point in one day, giving us a huge recession. >> if you wait longer a number of economists say the longer you wait for higher inflation, more the fed has to act with a higher rate increased that could be a shock to the market. stuart: let me bring in larry kudlow to talk about the different, the jobs number. >> no, no, stop, stop. i've got to make some edits to what we just heard. the solution that ronald reagan did in 1980-81-82, i was there, we slashed marginal tax rates which created new incentives and rejuvenated economic growth and he gave paul volcker carte blanche to stop excess money growth and strengthen the value of the dollar. lower tax rates, stronger dollar.
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what are you doing today, the bidens if they get their way will have higher tax rates and the fed keeps pumping up the money supply. the dollar is okay at the moment but the fed keeps pumping up the money supply. the fed is financing supply shocks and financing old government spending so you have different policies. supply-side view, cut tax rates, get people back to work, rejuvenated and steady dollar. stuart: you are quite right to go back to it because i do remember paul volcker raising the discount rate, interest rates went straight up and the economy went straight did. if that happens this time around the thing has to move upon interest rates, if they have to move up interest rates and you get these demands for tax increases they hit the
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economy. it is a lot worse than the early 1980s. are you with me on that? >> yes because the volcker adjustment lasted a year or so, no way around that but reagan's policies of low taxes and strong dollar recently launched a 30 year economic boom. that is what it did. doing it backward right now and that is going to be a problem down the road. stuart: i've only got 45 seconds. why are so many people staying home when there are so many jobs available? >> a pain in the neck, almost unanswerable but let me say this. private jobs up, household jobs up 530,000, 730,000 people
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lower unemployment so here is one. since the pandemic, has been removed for the last 26 days. we have had 7 million people come off of the unemployment benefits, that will start showing up in the next few months and i don't know if it will appear in the jobs number but 7 million of left the unemployment benefit roles. stuart: the other side of the coin and i should be discussing that. we will see you again at 4:00 this afternoon on foxbusiness. thank you very much. we have this for you. one hospital system offering 10,000 $on bonuses. that is quite an incentive. i will ask doctor bob after this.
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beaumont health have a vaccine mandate that goes into effect on the eighteenth. the biggest healthcare provider with we hospitals in michigan and they are worried that because of these mandates their staff will leave. they don't want a repeat of last month. they would welcome 12% of nurses in texas close 180 beds. that happens then. now they are facing the mandate they don't want to happen again. for americans the vaccine mandate coupled with an already shortstaffed system could be a life or death situation. we are so polarized with vaccines i wonder if vaccines that are well-established, people are okay with, people say i am not doing a vaccine for anything because i don't want to be told what to do and that we have a big problem. stuart: i can see that happening. doctor, people are leaving in droves because of vaccine mandates. last time you joined me, you said you were for vaccine
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mandates for healthcare workers. we have a shortage of healthcare workers. does that change your stand? >> all day and all might long, the nurses if they are not tethered to families, in the hospital, they said we didn't have family here, they are all vaccinated. they would go to michigan. we had that during the height of 2020, we went to california and texas and it is a phenomenon but it is a worthwhile phenomenon to consider. is the plus of the mandate a problem? apparently it is. stuart: okay. one more for you. more americans died from covid
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from 2021 than in all of 2020. why is that? >> it has a lot to do with the fact that we've not reached heard immunity. the delta variant popped up from india and that wreaked havoc which is easily transmissible and more potent and because of age and the health of the population particularly people over 65, numbers increased and the virus spread like wildfire and the trend is downward. stuart: it is down 20% and the death rate is down 10%. >> we are going to see the end of this pandemic, don't think the coronavirus is going away. it will be with us forever and it will become endemic. stuart: that is just the way it is. still ahead on this program
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today brian kilmeade. can i have been take a look at crime in new york city which is horrendous quite frankly. we also have matt schlapp, stephen moore, francis suarez, the mayor of miami, the 10:00 hour of "varney and company" is next. ♪♪ how do you like it ♪♪ how do you like it ♪♪ how do you like it ♪♪ how do you like it ♪♪ more more more ♪♪ how do you like it ♪♪ how do you like it ♪♪ oh ♪♪ how do you like it ♪♪ now ♪♪ . . once-weekly trulicity lowers your a1c
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♪. stuart: mr. big stuff. who do you think you are. [laughter]. that is a good one. really is. good morning, everyone. 10:00 eastern let's get straight to the moolah. in the red now. we drifted lower pretty much across the board. look at, price of oil, it has gone up some more. 81.22. talking about energy price inflation for couple days now. looking at it on the screen. 10-year treasury yield. that is back up again, i'm sorry, wrong. 1.59 is where we are there. big tech stocks, they're all in the red. a turnaround for stock prices from gene to red and that is
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certainly true for big tech. all important numbers coming to us. this is the jolts report. this is the number of job openings, jobs available going abegging. that is essentially the number we're talking about. lauren, what is the number? susan: for august 10.439 million jobs open, slightly less than expected. july was revised much higher to a record high, 11.098 million. first time it ever crossed 11 million. stuart: enormous number of people, enormous number of jobs available, people are not taking them. maybe that turned the market around. literally seconds before the jolts number was released, the dow, s&p, nasdaq were in the red. we're ever so slightly in the green. adding to something? susan: so the quits rate, how many people feel comfortable for quitting their job, that increased to a record high of 2.9% in august. so that is at at record high and
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then you have to look at the types of companies that have the most jobs open. i'm assuming it is smaller companies because they can't afford for the most part those bigger wage gains. that is something to watch too. really hard to retain and find staff right now. stuart: got it. 10 million jobs going abegging. quit rate, 10.29% that is a record high. now this. we have energy price inflation. we're not used to it but we all can see it, feel it, oil, nat-gas going up, rippling through everything, from the grossry store to the electric bill. see prices going up. it's a supply and demand problem made much worse by the climate crowd and president biden. biden and greens deliberately cut the supply of fossil fuel energy making price hikes inevitable. they pressure banks to stop lending to oil and gas producers so they couldn't respond quickly to the surge in demand. some investment first on
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wall street discourage any investment at energy producers because they of course are killing the planet. the biden team threw away our energy dominance. there is enough nat-gas under our land to supply the whole world, these guys don't want to drill for it or transport by pipeline because it is fossil fuel. wind was supposed to pick up the slack. wind doesn't blow enough and sun didn't shine enough and world turned back to oil and coal. that is the problem. not enough of that either. when you a energy shortage and supply chain mess you have a price storm. it is not going away. it is very likely to get much worse. in three weeks the u.n. climate summit convenience in scotland. the greens will call for more restrictions on fossil fuel, and joe biden will go along with it. energy prices will go up more especially with a cold winter. we can see and feel these price hikes.
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voters will have to decide if biden's energy policy is worth paying for. second hour of "varney" just getting started. ♪. stuart: let's bring in market watcher ed yardeni for discussion. grocery stores, gas pump, we can see and feel the rising prices. who do you blame, ed? >> i think the monologue you just delivered was right on. the reality is that transition from fossil fuels to renewables isn't going very smoothly and i think you're right, that the greens deliberately have been trying to push prices of fuels, fossil fuels higher in an effort to get us to use more renewables. the problem there are not enough renewables around and they're not that reliable. i figure you're right on. stuart: are we in for a crunch, energy price crunch this winter?
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>> i think it is conceivable for sure. if we get a really cold winter, that is what winters tend to do we already know even before the winter really started there is an energy crisis in china, there is an energy crisis in europe. here we don't really have a crisis but prices going up reflect the fact these are globally traded commodities. stuart: we got the jolts report. 10,439,000 jobs available in the month of august and no takers for those jobs. what's your reaction to that? >> i think we're starting to head into labor shortages even before the pandemic and now that we're coming out of the pandemic, i think we're just seeing the labor shortages continue. the underlying problem is demography. baby boomers are retiring. we're not seeing as many people coming into the labor market for demographic reasons. so i think it will put a lot of pressure on companies to do what
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they can to increase product tivity. until they ramp that up, we're starting to see asking likes like the 1970s, inflation price spiral. stuart: that adds to inflation from energy. nasty combination there. ed yardeni. thank you. >> thank you, stuart. stuart: thanks for being with us. see you later. back to the market, mgm making a significant move. a 7% gain. lauren tell me why. susan: new high, topping the s&p 500. they were upgraded to outperform at credit suisse which more than doubled the price target to $68? why? solid cash flow and they like some of their new casino operations that is a winner and a bet on the recovering economy, airbnb, what are they doing? susan: 4%. cohen says wall street is underestimating the travel recovery and airbnb will benefit. they have over 50% market share. they give them a 220-dollar
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price target. stuart: underestimating the travel recovery? susan: that is what cowan said. stuart: a lot of people will be reluctant to fly this holiday season what is going on at southwest,. susan: american, delta. stuart: united are doing okay. people want to see friends and family they haven't seen for a while. stuart: i'm dubious about accelerating return to travel. i hope they do. susan: a lot of people get small get-togethers drive to a house they rent and spend weekend with friends. that is what airbnb is good at. stuart: i will take that argument. moderna up 1%. anything going on this? susan: fda advisory panel says support you get a booster after the second jab. you have moderna selling additional 170 million doses of vaccine to kovacs to up -- stuart: that is a lot of revenue. susan: it sure is. stuart: amazon, rethinking. this is interesting. this is not amazon warehouse workers. this is amazon office workers.
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they got a change in plan for going back to work. what is it? susan: they're letting managers decide who needs to be in and how often. the guidance used to be come into the office maybe three times a week. now it could mean depending on your manager stay home forever. editorializing here but amazon is the second biggest employer, right? 1.3 million workers many of them in warehouses. this work arrangement could be andy jesse's ceo way of getting around a vaccine mandates. if he requires vaccination for his staff including the warehouse workers, they might bail. then he has a major supply chain issue. stuart: that is good. way around it. susan: i don't think he will ever say that, if they are giving all the flexibility it could be their way to prevent the mandate. stuart: that is a good story. good editorializing there, lauren. texas congressman chip roy, he wants companies which received bailouts, pay them back, pay
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back the bail out money in full if they fire any employee for not getting vaccinated. matt schlapp joins us. matt, can you force a company to give all the money back? >> congress can pass any law it wants, stuart. we had this whole conversation about obamacare, is it a tax, is it a fee? i think chip roy is exactly right. you have the u.s. chamber of commerce, you have the business roundtable, they accepted this woke agenda but underneath it throughout this whole pandemic process companies have been getting massive payments from the federal government and i think most republicans have gotten to the point that if these companies are going to tack 75 million americans on their basic fundamental values, including value i will decide for my children what they will put in their body and i will decide for myself what i put in my body, if these companies and trade associations are going to fight that 75 million strong out
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there, we're going to have one heck of a bloody battle. i think these companies are no longer going to be able to rely on the republican party to do their bidding. stuart: it's a political fight though, isn't it? republican states, largely opposed vax mandates. democrat dates and the president imposed them. this is a straightforward political fight. >> it's true but also remember the democrats were ones came to women's health, promulgated this idea you had the right to control what you put in your body and what you did with this body. republicans are by and large pro-life, but this idea thank you governor earn your own health care is kind of a fun fun understanding in this country but iting being upset. it's a scientific fight. you're right. companies based in red states who will borrow the woke again today the chamber of commerce and the business roundtable, they will be in one hell of a fight with their customer base
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and their employees. let's be honests what is happening with air travel, especially with southwest airlines in this country is because americans are pushing back in red states saying i will govern my health care. the federal government, get your nose out. stuart: quickly, according to a report the kids in this video, alongside vice president harris are actually child actors. let's see a bit more of it. roll it. >> i wonder who the head of the space council is? >> are you kidding me? >> head of space council is the vice president. >> you will literally do the craters on the moon with your own eyes. >> my goodness. >> with your own eyes. i'm telling you. it is going to be unbelievable. stuart: matt, the production company that made that video is called, sinking ship entertainment. oh the irony. a company that is based in canada. go ahead, unleash for 30 seconds. >> well, stuart, for people like you and i who raised a bunch of
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kids the idea when you get a group of kids around you talk like that in this amped up way, it is so fake and so phony. when you actually teach kids it doesn't go down this way. this is somebody who spent zero time with kids. we have pretty big problems out there. why don't we take care of problems instead after phony video put out by canadians? stuart: phony video by canadians. damning with faint praise. matt schlapp, see you soon. good stuff. something you will only see on fox. looking at more than $100 million worth of unused border wall supplies left wasting away in texas. yes, we paid for this. we have a report own it guaranteed. tired of paying more money on your groceries. don't hold your breath the ceo of kraft-heinz says increase of food prices is here to stay. gas prices, national average hit a new seven-year high, 3.28.
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that is up 8 cents in just one week. jeff flock has a report on that. ♪. dad, we got this. we got this. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones that building you're trying to buy, let- you should ten-x it.it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum!
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stuart: pretty much a go nowhere stock market, down slightly pretty much across the board. check out oil. one of the themes on this program is energy price inflation and we have oil 80 bucks a barrel. it was 81 a few moments ago. gas prices up across the country. up eight cents on a gallon of gas. there are only six states with an average below $3 a gallon. come on in jeff flock.
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he is at a pennsylvania gas station. what are people saying there about the rising price? reporter: surprisingly, to me, stuart, they are not outraged at this point. they still have money in their pockets, but if you have a job you an get one these days, it is like a frog in a pot it gets warmer and warmer. don't know when it will start to boil. put the numbers, up eight cents, 3.28, average. up eight cents in the last week, 11 cents last month. $1.10 more than last year. you mentioned those six states. funny, your buddy pat dehaan at gas buddy told us yesterday with eight. we made up a map with eight. it is already out of date. mississippi and alabama are the two that have now exceeded $3 a gallon. we have only six states. oak orb oklahoma, i said mississippi, i meant louisiana and alabama have gone over
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three. mississippi still among the lowest at 2.90 a gallon. highest states, no surprise to you probably. california, $4.43 in california. the other 10 maybe you see on a map there, hawaii, washington, oregon, the rest. makes you think back to the old brooks and dunn song, $4 and change at the pump, cost of living is high and going up. stuart: i missed that one. reporter: pumping your own gas no doubt. stuart: i live in new jersey which is the only state in the nation where you may not pump your own gas. i like it, frankly. i'm not very good with machinery. it works for me. reporter: me too, bad myself. i cut my hand off. stuart: i remember that jeff, you're all right, great report on gas prices. look who is here now, stephen schork, the expert on the oil market and he is joining us as we speak. who is to plame for this energy
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price inflation, stephen? >> it's a combination, stuart, of two factors. one is government hubris. that we had a move back at the beginning of summer in europe which rejiggered the carbon permit scheme which raised cost of carbon permits by 140% we're over year. union encouraged consumers, industry, get out of coal to move over to renewables. what happened, yes, they succeeded pushing the industry out of coal and pushed them right into natural gas. last week because of this demand, extra demand for gas, we don't have the supply there in europe, you looked at natural gas prices that hit 230-dollar equivalent crude oil a barrel. so now you have a big push to go into oil derivatives for your power generation. so energy crisis that was created in part by government policy. jumping the gun on renewables too quickly this summer.
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stuart: okay. >> therefore you also have market dynamics working. remember at the end of august we had a pretty big hurricane that knocked out a lot of crude oil production here in the united states. right now demand has rebounded much stronger than anyone expected and yet u.s. crude oil producers are still producing two million barrels fewer today than they were pre-covid. you have a combination of the market is not reacting on the supply side, demand is rising, and then also you have government intervention which has caused prices to rally. so it's a confluence of events that are pushing prices higher right now. stuart: is it anywhere near over? as we approach fall and winter, it is cold, is this energy price inflation over or does it get worse? >> in the year and now, i think we're reaching that kind of that cusp. there is lot of speculation of crude oil prices going to 90, $100 a barrel. some prominent bankers made that forecast. i will not argue against it.
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what tends to happen you invite a lot of speculation. a lot of disjointed areas in the market invite speculation to drive prices high enough to clear out all those disconnects. we're approaching that level. really, it depends on the winter. so the short term answer it depends on the winter. get a cold winter in europe and north america, no, oil prices, gasoline price, energy prices are all going to move higher. if we don't, we will see a regression but we are in a new normal, stuart. we're higher oil prices higher energy prices are here to stay, as we push the esg agenda, you are taking resiliency out of the market. we don't have nukes. we don't have coal. we don't have gas to fall back on. we're looking at greater volatility, higher prices for the foreseeable future. stuart: i hear you. stephen schork, appreciate it. see you later. >> thank you, stuart. stuart: the ceo of kraft-heinz sees inflation across the board.
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what did he say specifically, lauren, about rising food prices? susan: they're here to stay. permanency of inflation we're hearing. this is the quote. we're raising prices where necessary around the world, specifically in the uk with a lack of truck drivers. in the u.s. logistic costs also increased substantially. there is a shortage of labor in certain areas of the economy. so it's a mix of issues. look at this, beef prices up 12%. bacon, 1%. even eggs are higher by 10%. kraft says they hiked prices on more than half of the products here in the u.s. you have 10.4 million workers without jobs. i'm sick of the excuses, right? you have all these goods sitting at our ports. why can't we hire people to at least get these items where they need to go to ease the pressure on consumers? can the administration do something here? stuart: apparently not at this moment. susan: add a shift. pay more.
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stuart: thank you very much. lauren: what can be done? stuart: the president is forming a supply chain task force. relax. he has it in happened. thanks. worried about getting gifts in time for holidays? so are retailers. they are worried the holiday season could be a huge disappointment. show you what they're trying to do about it. we show youd you parents battling school boards over critical race theory. one-eighth grader joining the fight. >> [inaudible]. you have no power over me. stuart: that is kelly brookings, she joins me next. ♪.
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north carolina. 70 degrees right there. as for the markets they have all turned south again by not much. nasdaq is down 3. nothing. okay. minor leagues movement to the downside across the board. susan is laughing here. susan: very specific today. stuart: trying to be. susan: 0.1%. stuart: sales force in the news. the story? susan: looking for any news flow. i think it's a catchup rally to the other cloud giants like google and the like that really outperformed. sales force is up 23% this year. stuart: we can't hear you for some reason. mic going in the wrong direction. we'll fix it. i will ad-lib, speaking into the camera. sales force is an intriguing company, up 23% so far this calendar year this year. i believe they have done very well. they were up again. i think your mic has been fix.
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susan: let's talk about gm. they struck one with a korean company which will reimburse general motors with two billion dollars for defects in its battery modules that resulted in a pretty costly 142,000 chevrolet volt recall. stuart: facebook. susan: not much news flow today. i think there might be regulatory clouds finally over the stock. we've broken below the 200-day moving average. that is a bearish sign signal to the markets. lost 5%. people think there could be a bro, something coming from d.c. because of the whistle-blower testimony last week. stuart: the only big tech which has really been hit recently. down more than all the other big techs. susan: still up 18% this year. might be something on wall street there is some teeth right now to possibly something from d.c. stuart: could be. okta. susan: you have used this. stuart: i have. susan: i'm looking for
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outperformance. there has been a rerating for cybersecurity companies in era of cyber threats. okta is one of those. stuart: you're looking at a fidelity study. men, women and investing. can you give me -- i don't know what the conclusions are. give me the headlines. susan: the conclusions are, i would love to hear your opinion on this, women are better investors. fidelity has confirmed this, that women beat men by 40 basis points over, this is over a 10-year period of 2011 to 2020 and how women have done this is they're not, they're not daily traders. they are buy and hold type of crowd. 67% of women are investing outside of their retirement accounts. that is 50% jump for 2018. i would argue women are probably more conservative investors than men. some of this, the study actually shows that. the women hold way too much cash, in some cases holding 50 to $100,000. when you hold that kind of cash you're missing out on the stock
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market rallies and the gains. so maybe they should be putting more of that money to work. stuart: i will leave it right there. susan: they are better investors, did you hear that? better returns. 40 basis points over a 10-year period. go girls. stuart: i will leave it rite there, okay? anymore comment is no longer required. but you can chime in later if you like. susan: all right. stuart: thank you, seriously, susan. 13-year-old conservative youngster, obviously 13 years old, in a liberal school district, railing, she is railing against critical race theory. this was during a school board meeting. watch this please. >> we're lucky to live in the america to be able to become whatever we want. -- [inaudible]. start allowing classes allow students ready for the real world. all this critical race theory and mask garbage come from big government. you have no power over me. stuart: that student, kelly brooking joins me now. kelly welcome to the show, good to go he sue.
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i want to ask you what happened after you made the speech, since you made the speech? >> hi, sir, thank you so much for having. so when i was giving that speech, the school board leaders actually were not there. they left because they wouldn't comply to masks. since then they changed crt to crs, now calling it critical race facts because they don't want it to be a theory. stuart: so they are teaching a critical race curriculum, if you want to put it like that. what is the difference between a critical race theory and critical race facts? >> there is absolutely no difference. they're using it as a disguise to hide that as crt. stuart: what are your classmates saying about this, to you. you stood up there, you don't want to be victim-hood. you don't want to be victims. talking about garbage from big government. that is pretty strong stuff. what do the classmates think? >> yes, sir, my classmates are not very fond of my views at all.
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they figure it is me. they leave me hate messages. they do not like my views whatsoever. stuart: are you ostracized? >> am i what? stuart: ostracized. kept apart. they won't talk to you or they won't have lunch with you, something like that? >> oh. absolutely, yes. stuart: and when do you think this might end? >> i don't think it will but i do have a group of conservative friends that i can count on. stuart: and what about the teachers, what are they saying to you? >> teachers are a lot better at hiding their hatred for me. they definitely don't agree with my views. they have all of the blm stuff in their classroom and lgbtq flags. but a teacher has not out wardly said they do not like me yet. stuart: do you object to black lives matter paraphernalia, flags, whatever it is in the classroom or lgbq plus in the classroom. do you abject to that? >> yes, sir.
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i asked them why they have done it around why they think they are trying to say it? i definitely do think that is because they're trying to fit in with the students. stuart: thank you very much. thank you for joining us. you took a brave stand. i'm sorry backlash against you. come see us again. see you soon. >> thank you so much, sir. god bless you. stuart: god bless you indeed. thank you. now cancel culture has backfired at one university. a guest whose initial speech was canceled actually brought in thousands of people at a different university. take me through the story, lauren. lauren: dr. dorian abbott is a professor of climate change and extraterrestrial life. i first read the story, they don't want to hear what he has to say about science. no. he was set to give a speech on that topic the end of this month at mit and got canceled what he said in the past about academic evaluations. they should be based on merit,
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not identity. that was his crime. stuart: he said that previously. they dug it up and said, oh, you're canceled, not allowed to say that. lauren: mit said we're discussing discretion, we'll cancel you before the outrage against what you said in the past might get even bigger. so that same exact speech, the real science speech, he is going to give at princeton university, october 21st at 4:30. on zoom. thousands of people registered, they reached the zoom limit. the university is working on a way to increase that limit. stuart: it is an intriguing subject, climate change and extraterrestrial life. lauren: i thought that was the problem. okay. because he said, god forbid you're academically evaluated based on how smart you are. stuart: unbelievable, isn't it? good example. good stuff, lauren. after years of rumors paul mccartney finally reveals who really broke up the beatles. the answer may surprise you. america's supply chain crisis is wiping store shelves
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clean. ports, rails, remain backed up. will retailers be able to keep up with the demands as we head to the holidays? i can tell you now they're really worried and we got a report. ♪. welcome to allstate. where you can pay a little less and enjoy the ride a little more. ♪ ♪ ♪ ♪ now, get new lower auto rates with allstate. because better protection costs a whole lot less. you're in good hands with allstate. click or call for a lower auto rate today.
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stuart: all right. i see some green and some red. the dow is up 40. the s&p is up .8, and nasdaq is down six. not much movement. then there is this. supply chain crisis is leaving store shelves empty. that is true. ashley webster, good morning to you. here is my question, ashley, are retailers going to start limiting how much a customer can
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buy? ashley: yes, they are, stu, and good morning. consumers are learning to be patient and flexible, two things i'm not by the way. it doesn't take much to trigger a round of panic buying, hoarding, especially when it comes to toilet paper. already costco and walmart are putting limits on the sales of bath tissue and other items could be added to this list as new shipments are nowhere to be seen. i want you to take a look at these pictures from "the daily mail." they show stores from long island, new york, to southern california with near empty shelves. in fact there are better shots. check that out. the stores that were taken pictures at, home depot, cvs pharmacy, target, walmart, best buy. these pictures really tell the story. by the way, grocery stores certainly feeling the pinch as well. according to data analytics company iri, around 18% of bakery beverages, 16% of snacks, 16% of candy, frozen foods, out
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of stock at grocery stores during the week ending the october 3rd. it is only expected to get worse. right now it is taking about 80 days to transport goods across the pacific. what does that mean? that is twice as long as normal. meantime the logjam at u.s. ports continues to grow. there are now near record 146 cargo ships off the california coast with hundreds of billions of dollars worth of merchandise going nowhere. struggling smaller retailers saying they are paying as much as 55% more for goods compared to 2019 while only receiving about 50% of the total order. they can't compete with the big retail giants who are now using another option to secure goods. they are chartering their own cargo ships that are smaller but more expensive, around $140,000 per day, twice the cost of normal shipping. now walmart, home depot, cost go, target, all using this very
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pricey option, all the hope they insure key products such as electronics will arrive in time for the holiday season but retail expert better flickinger, a long time guest on this show, at least 20, 25% of those goods are unlikely to make it on time for the november 26th black friday kick-off of the holiday shopping season. bottom line, might be wise to start shopping right now, stu? stuart: we have an item on that right now, ashley. we'll talk to you a bit later on. jamie dimon gave the prediction how long the supply issues are going to last. i take it they will last a long time according to him, lauren? lauren: not really. i never should do this but i'm quoting, i will make a forecast, this wit not be a issue next year at all. great market systems will adjust like countries have. they will use planes to fly goods, chartering their own
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goods. as for the problem starting to fix itself we're seeing light at the end of the tunnel. intel and samsung will resume full operations at vietnam factories at the end of november. in time for the black friday holiday. my prediction black holiday is dead this year. it will be very hard to find a deal. stuart: if they don't run it until the end of november. they have to ship it here for the united states t will not be here for christmas. lauren: christmas is ruined. 2022 is looking better hopefully. that is dimon's prediction at least. stuart: what about fedex, postal service, what are they saying about the deadlines when you have start sending stuff for it to get there on time? lauren: don't delay, ship today. fedex ground, freight economy, the deadline is december 9th. almost one full week earlier than last year. think about it. if you want your item to arrive in time to wrap it, put it under the christmas tree, december 9th is pretty early. a lot of people like to ship at the last minute. people using post office, usps
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ground service, most popular one is 15th. for greeting cards the 17th. i'm not sure about ups but fedex is earlier. >> thank you, lauren. southwest airlines has canceled 2400 flights since saturday. the ceo says it has nothing to do with the vaccine mandate. grady trimble has that story in next hour. jon grade insteps down as raiders head coach four years into a 10-year, 100 million-dollar deal. brian kilmeade sorts it out next ♪.
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stuart: it is still pretty much a go nowhere market. dow is up 30. nasdaq, s&p, down ever so slightly. the main theme on the program for today and some time has been energy price inflation. you're looking at it right now. the price of oil is holding above $80 per barrel. the price of oil goes into just about everything, whether you're driving, whatever. here is the gasoline price. we're now at 3.28. that is the national average for
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regular. again, it is climbing ever so steadily. we're not used to 3-dollar a gallon gasoline. not seen it for many years. we have it right now. odds are it continues to go up. opinion is mixed on this. at this moment you have energy price inflation. you have food price inflation. that at some point will hurt the market. it is now 10:51 eastern time that means it is time to bring in brian kilmeade. first off, jon gruden, stepped down head coach of the vegas raiders. emails from 10 years ago resurfaced. using racist, homophobic, misogynistic comments. what are you hearing about there? i hear this is a bombshell in football. >> no question. 10-year contract, $100 million minimum. four years n turning around the raiders. brought tampa bay to a super bowl, right away. then he was at the raiders and turned them around before he went over to tampa bay. he was the best broadcaster at
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espn. certainly the most interesting color commentator since john madden. went back to the league. started to turn the team around, changed culture as they changed venue. not easy to be in oakland for two years, switch to las vegas, have no fans. they have fans back. emails are from 10 years ago. part of investigation into the washington football club, former redskins, they tried to find out why the culture is so bad with the organization. doing the investigation they go into bruce allen's email, general manager at the time, son of legendary football coach george allen. he has interactions with jon gruden, at that time a broadcaster. he had hideous things, about roger goodell, michael sam, first openly gay player to be drafting and players kneeling. head of players association. he is african-american, the way he looks. all this stuff in inexcusable. the first set of emails he would have probably survived. second set he didn't. by last night, "monday night
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football" he was gone. to me, the couple things of the content of the emails are terrible. they were never meant to be public. the problem for jon gruden was they were public, has no legal case, bruce allen wrote from a redskin account, washington football club account that allows them to be public. anybody that wrote to them is now subject. he was never the subject of an investigation. he is incidental. stuart: does he deserve in your opinion to be canceled from football from here on out? >> i don't know. this is unplowed ground for me. if you look at what he said it is inexcusable. the one thing to keep in mind too, anybody who wrote things that they didn't want public, what if everything you ever wrote was public? anyone watching us right now, are you okay with that? the answer is yes, okay. if the answer is no, then you understand where jon gruden is coming from. at the same time you can't make
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excuses for what he wrote. i will say this, outside of keyshawn johnson, former wide receiver, they won a super bowl with, they never liked each other, most people really liked this guy. i met him a few times. he is unbelievably likeable. on camera loved him. his comments were fantastic and insightful especially compared to most who know the business. and as a coach most people loved play for him. not like a guy finally got his comeuppance. this is not a guy that had a reputation. this is finely out in the public. this is not the person who had the reputation in the football. stuart: coach of san tone yo spurs, gregg popovich, criticized a texas school district observing columbus day. here is the quote. he, i guess, columbus initiated a new world genocide. it is not a knock on italian-americans. that is silly argument. we should be proud of german because we're german. makes no sense. it is about columbia b it is not about italian-americans.
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what is reaction to that, brian? >> couple things, every time popovich speaks, it is something negative about our country. extremely liberal coach. a successful coach. doesn't seem like to the most likeable guy to the media. every comment he makes seems to be anti-american. when it comes to columbus, obviously a controversial character, gary kasparov wrote in yesterday's "wall street journal" he changed the world. he literally spread christianity through another hemisphere. allowed culture to totally change. the impact is unquantifiable. as people said about columbus was what he did, like us going to the moon in 1960s, only more dangerous, it was counterintuitive to every explorer to the world. four voyages were not without controversy, because he is from europe, they had diseases immunity to this land, no one ever intentionally spread european diseases.
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he took slaves, absolutely. as you look at culture in time in europe in 1492. slavery was everywhere. you did not have power or you didn't. he did not invent it. it was culture in italy. stuart: the culture was still going strong that is a fact. brian kilmeade. thank you. >> thank you, sir. stuart: deroy murdoch, jake bequett, the mayor of miami frances suarez all coming up on this program. the supply chain problem isn't a problem, it is a crisis. it is affecting every aspect of our lives and the vaccine mandates are not helping. that is "my take" next.
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as bad as it gets. money is invested in best invested in large proceeds. stuart: 11:00 eastern time, looking at new york, tuesday october 12th the. the markets not showing any clear trend. dow and s&p on the upside, nasdaq lower. not much of women. the major technology companies, all of them are down this morning. now this. over the long holiday weekend i was out and about in massachusetts, new york and new jersey, three things stood out. the supply chain problem which is actually a crisis, at supermarkets the shelves didn't
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look well-stocked. some items were out completely and everything was more expensive. at clothing store very limited choice and near empty shelves. with hundreds, things will not improve quickly. new numbers show 140 ships in port waiting to unload 432,000 containers. they can't get the backlog until after thanksgiving. the supply chain task force, the labor shortage it was obvious the help wanted signs were everywhere and so were the police for patients please for store and restaurant managers who couldn't offer the usual service because they couldn't get the staff. this morning, 10.4 million available jobs with no takers for whatever reason there are large numbers of people who do
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not want to work, the labor shortage is obvious was the vaccine mandate doesn't stare you in the face but is having an impact. i ran into people returning from a disastrous trip to florida on southwest airlines. that chaos in part the result of pilots reportedly unwilling to get the jab. that's what i found on a 4-day vacation and none of it is good for the economy. with energy price inflation taking off and things generally slowing down there is no time for extra payments to pay at home, no time for aggressive backs mandates and absolutely no time for massive tax increases. the third hour of varney about to begin. stuart: economist anthony chan, we have problems all over the place, labor shortages, i you
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to tell us why it is there are 10.4 million job openings as we speak and people not taking those jobs. why is there a large group of people who prefer to stay at home? >> there is a mismatch of skills, people who stay at home are waking up and realizing maybe they don't enjoy the jobs they had, leisure and hospitality today accounts to 32% of the shortfall in payroll since the pandemic and it is only 10% of the labor force. their wages are rising 12.9, the substitution effect, you want to work more and you don't feel comfortable working in a
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fast food establishment, other factors are people don't enjoy that after being away from it here. the solution is to make the tasks people don't enjoy to be handled by technology, that is not higher wages. 12.9% year over year is an incentive. stuart: a labor shortage and fax mandate which is a problem in some areas. if you add it up, it is inflationary and doesn't get better. >> inflation is worse, the federal reserve admitted it, it is transitory that has to stay for 6 weeks, turns out to be a
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much longer period, it lasts a little longer 6 to 12 months. and shutdown the economy, we can do that in the overall economy and you added a lot of stimulus, and you can't change that overnight. the vaccine mandate is another issue you throw into the mix. the labor supply chain issues. slower economic growth, the world bank starting to give hints. the potential of demand distraction which means slower economic growth. stuart: the stock market's reaction to this, limited so far. we will see you again soon.
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an op-ed in the "national review," who really runs president biden's white house? believe it or not, president biden. delroy murdoch, good to see you. i always thought this is not the biden white house. why is it saying president biden is running the show? >> giving up have to president biden treating him like a hostage or somebody being tied up in the basement of the white house. he is calling the shots, to say this is too far. iran is centrist taking things further than it should.
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the $1.2 trillion infrastructure bill and $3.5 trillion spending orgy, these are not comparisons of bernie sanders and aoc, he embraced the sort of thing. in the upstairs residence, with a tube down his throat, he's not running things. to go to the oval office, every day, gives press conferences, in the press conference last week, either he thinks these are great ideas or this is government gone too far, not the centrism i promised american voters. stuart: where does this leave centrist democrats, there are centrist democrats left around. they have been abandoned by the progressives obviously and also by the president. where does that leave moderate? >> on capitol hill aligned himself with aoc and the squad,
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in a legislative position, embrace the far left, the idea that president biden is a centrist is one of the biggest lies in america. he has been far left senator from 72 onward. legislative ratings for 2008 last year in the u.s. senate he got an f from the american conservative union, straight ofs from 1998 to 2008 and 0 which is equal to his lifetime rating. the idea that president biden is a moderate down the middle of the road is nonsense and the far leftist, approves of far left policy the administration is perpetrating and doesn't object to it. maybe not eloquently and beautifully but put together a sentence with two and say enough of this.
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he is the perpetrator. stuart: interesting point of view. stuart: you have been watching the market, in particular gaming stocks. >> the big leader today. credits we still their price target on mgm, $68. they will pay off. stuart: the real estate - >> they can't remember the names. good cash flow. stuart: vegas is doing fine. micron technology. >> everybody talks about that,
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from the more he chips micron cells, the we are working next year. more supply and demand. it is down 3 and one third%. >> we constantly feature airlines, it doesn't move that much. americans meandering around $20 a share. lauren: what happens in november the transatlantic reopen. just in time for the holidays. the third quarter the just wrapped, smaller than accepted loss going forward, bookings for the holidays and opening for the transatlantic route. stuart: a lot of people have not seen their relatives overseas for years. not sure how many will do that. >> i really do. stuart: make a booking and see how easy it is to make a
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booking. show me the dow winners. nike and home depot, nasdaq, fascinating - $800 a share. and the f corporation round out the list. we showed you this video vice president harris talking to kids about nasa and space, turns out they are child actors, more on that for you. the coachable vegas raiders resigned after offensive email surface years after they were sent. former nfl guy jake beckett will take that on. migrants cross-border illegally walking past an incomplete section of the border wall. he has seen it countless times.
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or border patrol themselves, this would be a huge help, take a look at this video, we will show you, what they do is they walk past the incomplete border wall. this is a popular path migrants take when they cross illegally toward the edge of the wall that was just connected. the police department, no border patrol out here, these are police department are the ones, apprehending and bringing them to border patrol, look at the second piece of video. a tiny police department, and they are the ones on the front line having to patrol the rio grande, what you are seeing now, several family members here, one woman was pregnant and border patrol was stretched
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thin, on the front lines, listen to what the pd had to say about there is no complete border wall here. >> local law enforcement agencies working to try to get people assistance. makes it more - >> take a look at this piece of video. human smugglers in the area, they get picked up by human smugglers and to get further inland in houston, they are pulling these drivers, it happens every hour. that is local and state law enforcement doing the federal government's job, not border patrol's fall, they don't have
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the manpower with a massive border surge in 7 months. stuart: jake beckett, republican from arkansas running for the united states senate. let's go straight at it. wise nothing being done at the border? why is nothing being done? >> the only logical conclusion is president biden wants no southern border. no nation has any sovereignty without borders and we have to million illegal immigrants coming to the country, tens of millions over the past decade, this is bipartisan problem in both parties the past several decades refused to solve this problem. a new generation of conservative leaders and force federal immigration law, a
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secure national sovereignty, this is why i'm running for u.s. senate. stuart: what is the impact of this migrant surge in the state of arkansas? >> arkansas is not a border state but we are directly impacted. sentinel trafficking of his county is through the roof directly due to the opening border of the biden administration. we are seeing increases in crime, drug-related deaths, homicides, assaults, a serious issue arkansans care about and career politicians and gop in the democrat party refused to solve it. stuart: don't think the biden team understand how negative the pr is on this border surge, they are totally wrong. talk about john gruden who just resigned, he used racist, misogynistic comments in the past. you are a former player, what do you make of his resignation?
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>> apparently private emails are able to be printed again. you recall the hunter biden story, that was suppressed, fake news, dangerous information but in a larger sense i have a lot of questions about these emails, 650,000 emails in position of the nfl over the course of this decade and apparently only john gruden's were the ones that were leaked to the new york times. i think the nfl, roger caddell are throwing him to the wolves because they don't want emails to be released. john gruden's emails are the least, active rosters today convicted of rape, sexual assault, battery women. have to take care of those problems and not focus on someone's private email correspondence over the course of a decade. stuart: we will see you again soon. quickly to the markets.
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a mixed picture this morning. nasdaq is down 11. s&p virtually dead flat. news from amazon, let individual managers decide how often employees need to be in the office. it is not warehouse stuff but office people. previously they want all corporate workers back in the office 3 days a week. they are trying to go around a vaccine mandate. next case a battery company backed by bill gates started trading on the new york stock exchange. what is so interesting about these particular batteries? ashley: they are made of iron, salt and water, the long-duration energy storage batteries cheaper, safer and better operational life than conventional lithium-ion storage and could be effective in helping to store renewable energy. the company behind the technology already has powerful
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backers including bill gates and softbank, the company hasn't reported any revenue yet and says it already does have some utility customers with more in the pipeline. they hope to raise $300 million my going public, trading under the ticker symbol gw h. stuart: it has gone straight up 89%. this new survey revealing how many people are worried about cyber attacks? a very large number. ashley: you think it would be everybody. 90% of us have serious concerns about cyber attack on us computer system interview china and russia as major threats. large majority of adults over 60 say the russian and chinese governments are a huge threat but only half of those under the age of 30 agree. 79% of democrats, 70% of republicans also agree the russian government is a big threat.
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it does show the majority of americans are at least somewhat concerned about hacking that involves personal information, financial institutions, government agencies and certain utilities. cyber expert say the criminal syndicates that dominate the rensselaer business are mostly russian-speaking is also say the amount of active chinese cyber actors dwarfs the rest of the globe. it is a threat no doubt. stuart: it is a bipartisan agreement on the threat which is most unusual. history could be repeating itself as the economy inches closer to a jimmy carter era trends known as stagflation. a report on that from the white house. who really broke up the beatles? after years of situation paul mccartney is finally setting the record straight. we are going to be back. ♪♪ it's been a hard day's night
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the statue of liberty, fall, 67 degrees. the markets, the same story, not much movement i made these things. what is with coin base? >> we are hearing there are reports of delays of transfers on coin base. it is down because we are off of those bitcoin crypto highs. we saw it crossing 58,$000 because of inflation concerns and there are policy concerns. stuart: wasn't there a complaint from a couple who lost 600,$000 because of a hack into their account and the complaint coin base did nothing about it.
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>> lack of customer service as well, they lost 100,000, getting through on the phone lines to coin base which is an interesting story. i will show you big tech in general. facebook has to flow the 200 day moving average which is a bearish sign, it is one.5% lower despite the fact they announced several cloud deals, general mills is one, 160 treasury yields on concerns over inflation and oil prices. stuart: of all the big techs facebook looks the most vulnerable. >> might be regulatory clouds. stuart: could well be. >> i to to show you tesla, back above $800, to the start of this year, monster china sales, 56,000 is the record. elon musk is the world's richest man, $30 billion richer
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than jeff bezos and guess how much elon musk is worth? $224 billion and as you know these two, bragging rights between the two. they had their spats when it comes to space, electric cars and the like. it is all the same after 100 million. stuart: square on the screen, jack dorsey's company doing well too. >> speaking of rich people, more upside than twitter because it is a cash apps, payment apps, crypto, according to atlantic $300 million. stuart: all good. the word we are hearing more of, the word is stagflation. it was the trend in the 1970s
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referring to rising prices with stagnant economic growth. are we about to see a repeat of the 70s? >> people are seeing a correlation between president jimmy carter and president biden. we see rising gas prices, inflation going up, supply chain crunch is causing issues where store shelves that have been there with necessary items, you have a 3 months trend of jobs added back to the economy, million jobs added back in july, september, the economy, robert wilkie's direct comparison, the reliance on or your, the first thing president biden did was cancel the keystone pipeline with new
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leases for drilling on that land and ask opec to help out by increasing production. secretary wilkie worked under bill gates and donald rumsfeld in the bush administration. he sees the biden administration is more radical than the carter administration adding carter was a social liberal but fiscal conservative. >> the other thing i would say is carter's administration, secretary of defense harold brown. you don't see that caliber in this administration this white house. >> inflation will come back down eventually, spending will over the cost of living in the long-term. stuart: thanks very much indeed. i want to bring in stephen more. i lived through the stagflation of the 1970s. it was not very pleasant, and
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ugly time for america in general. will we repeat the stagflation of the 70s? >> i lived through the 70s, i was a teenager, everything was more expensive whether was groceries or gasoline. i think the comparison between what is happening now and what happened in the 70s that worries me as an economist is there's an energy crisis going on in the world and it hit europe first, a natural gas shortage, oil shortage, they are moving towards coal as their primary source of energy because green energy doesn't work. no politician should pay attention to that. green energy is niche market energy, not going to power $22 million academy with windmills and solar panels. the guy who was the big winner
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of all this among crazy energy policy -- stuart: saudi arabia. >> saudi arabia, vladimir putin. and on friday, europe is held hostage to vladimir putin of russia for their energy. how crazy is that, that instead of relying on american natural gas which is much cheaper in russia, the pipeline is built, not the keystone xl pipeline the pipeline from siberia to germany. we have a dysfunctional energy policy in place. we are headed to $5 a gallon gasoline. stuart: $5 a gallon gasoline. stuart: time frame. stuart: the next 4 to 6 weeks. my goodness.
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>> the price of gasoline goes up and they are filling it with gas because people are worried about these shortages. california has $5. stuart: you are on videotape saying that. we will roll it again in a couple weeks. good stuff. that is on videotape. thank you very much. >> yoko is the one who broke up the beatles. stuart: i hear you, we will get to that. this justin. miami just fired its police chief after 6 months on the job. i will ask the mayor of miami about that. the ceo southwest airlines says vaccine mandates were not the cause of thousands of flight delays.
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stuart: southwest airlines up one% dropping sharply after the weekend when they had thousands of calculations. grady trimble in chicago, what do things look like today? >> looking a lot better at midway airport. look at the boards for departure. a handful of cancellations, strong delays, southwest tells us 90 flights have been canceled across the country out of 3300 today. that is a huge improvement from saturday, sunday, monday, when hundreds of flights across the country were canceled. the airline blame the cancellation chaos on the
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weather and other factors the left planes and crews out of position telling us in a statement southwest teams have been working that is working diligently to sustain the network. the operational challenges were not a result of southwest employee demonstrations. that a reference to the claims that have been made, and other workers protesting that by not showing up. the airline disputes that. so that the pilots union, they oppose that mandate but say this issue over the past few days has nothing to do with the vaccine mandate. how do airlines solve staffing challenges going forward in the coming months for the holidays, southwest has announced it is cutting flights in november and december. it is a tough time and immigrant time to do something like that. it is better than canceling flights when people are on their way to the airport or at the airport which is what we
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saw the last few days. stuart: that was chaotic. we appreciate it and see you again soon. a complete change of subject. paul mccartney answering one of life's big questions. who really broke up the beatles? the answer please. ashley: mccartney says one day john lennon just walked into a room and announced he was leaving the band. in an interview with bbc radio that will be released later this month mccartney says he has often been accused as the person who broke up the beatles after hiring lawyers to settle band disputes and wanting to go solo but he says that was never the case. mccartney by the way turns 80 next summer says when lennon decided to start a new family with yoko on a, felt like a divorce, with the three remaining bandmembers left to pick up the pieces. he called it the most difficult period of his life. the breakup of the band was announced in 1970.
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mccartney was blamed for the split but he says that wasn't true. he was told to keep quiet until more arrangements had been made but couldn't keep the secret any longer so in 1970 he said we split up. by doing that people believed he was behind it but he said john lennon wanted out. we when conventional wisdom was it with yoko. it was john. thanks. now this. show me the dow 30. you get a sense of the market. a lot more selling than buying. there is this too. miami's new crypto currency, it generated $8 million for the city. in two months. mayor francis suarez spearheaded miami coin and joins me next. ♪♪
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if they asked for proof of vaccination. the list of potential violators includes miami marlins, carnival, royal caribbean and a concert in orlando. in florida, not supposed to ask for proof of vaccination. the city of miami suspended the police chief who had only been on the job race months. the mayor of miami, francis suarez, you recruited him. what happens? >> he came highly touted, was chief of three successive department including the fifth largest city in the country and also chief's chief. unfortunately things haven't worked out the way many of us would have liked. there been some clashes between him and some of our elected officials so we think the city manager made a decision to move
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on for the benefit of our residents. stuart: to the chief talk about the cuban mafia. was that was went wrong? >> that was one of a variety of things, something that offended lord this community, he apologized for it. that and a variety of other things, high-level clashes with public officials that created an untenable situation. stuart: i would like you to explain about miami coin, it was only in favor two months. it brought in $8 million to the city. you have done this before but explain to me in simple straightforward terms how miami coin brings in $8 million to your city. >> it has been 75 days and generated $16.5 million in 75 days. it is built on the big coin
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blotch chain, the most decentralized block chain on the planet. there's a block chain that creates smart contract functionality has to onto the bitcoin block chain and the miami protocol is an application on the block chain that provides 30% of the mining reward, less than one third of the mining reward gets put into a digital wallet. as miami coin is mined in transaction the percentage of the reward in the case of bitcoin want 100% of the minor, 30% goes to digital wallet facility than that is generated in 75 days, $16 million. stuart: jpmorgan chase's jamie dimon says bitcoin is worthless. >> you put on your ticker what it is worth every single day
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and it is worth 56,$000, last time we joked around and i said it has only one way to go, up. you can talk about it and it has gone up significantly since we last talked about it. the fact that there is a decent digital currency we all agree is in a liquefied form not tied to the fiat system is something people are excited about. they don't like the fact the countries manipulate their currency or fiscal and monetary policy often doesn't benefit residents of those countries and seeing a wave of countries in central america, south america and africa start to adopt bitcoin as a base currency and that could revolutionize the utility of bitcoin. stuart: always a pleasure to have you with us. hope to see you again soon. it is that time. tuesday's trivia question.
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which finger, the first woman inducted into the rock 'n roll hall of fame? ashley webster will take a guess. we will have the correct answer for you when we come back. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones hi, my name is tony cooper, and i'm going to tell you about exciting medicare advantage plans that can provide broad coverage and still may save you money on monthly premiums and prescription drugs. with original medicare you are covered for hospital stays and doctor office visits but you have to meet a deductible for each, and then you're still responsible for 20% of the cost.
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next, let's look at a medicare supplement plan. as you can see, they cover the same things as original medicare, and they also cover your medicare deductibles and coinsurance. but they often have higher monthly premiums and no prescription drug coverage. now, let's take a look at humana's medicare advantage plans. with a humana medicare advantage plan, hospitals stays, doctor office visits and your original medicare deductibles are covered. and, of course, most humana medicare advantage plans include prescription drug coverage. in fact, in 2020, humana medicare advantage prescription drug plan members saved an estimated $8,400 on average on their prescription costs. most humana medicare advantage plans include a silver sneakers fitness program at no extra cost. dental, vision and hearing coverage is included with most humana medicare
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advantage plans. and you get telehealth coverage with a zero-dollar copay. you get all of this for as low as a zero-dollar monthly plan premium in many areas; and your doctor and hospital may already be a part of humana's large network. if you want the facts, call right now for the free decision guide from humana. there is no obligation, so call the number on your screen right now to see if your doctor is in our network; to find out if you could save on your prescriptions, and to get our free decision guide. humana, a more human way to healthcare.
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looking at that list, based on age i would go with etta james, the singer of that great song, at last. but i'm not so sure i'm right. stuart: i was going with janis joplin all not old enough, i remember, oh, lord, won't you buy me a mercedes-benz, my friends all drive porsches, i must make amends. it is aretha franklin. there you go. no surprises. lady soul, lady soul, part of the second class of performers inducted into the hall back in 1987. she won 18 grammys, and won 44 nominations. i want to see you dance. we thought you might do that. you have got rhythm, that lad. first two wins came from this spot, "respect." which i heard a lot of recently. all right, ashley. i guess, we missed that one. check the markets, please.
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we all turned green. the dow is up. the nasdaq is up. the s&p is up, not by much but they are up. they're in the green. big story we're always following for you, energy price inflation the price of oil this morning above $80 a barrel all over again. gas prices have gone to 3.29, sorry, 3.28 as a national average. still 4.44 in california. neil, it is yours, take it away. neil: we'll follow the price optics, stuart. southwest airlines, four days just absolute torture for flyers who have been all but stranded there are some signs things are improving albeit slowly, tentatively. jonathan serrie from hartsfield-jackson international airport in atlanta georgia. how are we looking at, jonathan? reporter: neil, things rim proving. the lines are not nearly as long
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