grande a carl nonfat latte. if you order a red at starbucks, just informing the audience. it was such a pleasure this morning. i didn't have a laughing melt down. it happened in the commercial break. "varney and company" starts right now. stuart: you can have a laughing melt down anytime you like on this show. good morning, we have inflation scare this weekend took the market down. in came that wall of money and things stabilize. a lot of investors breathing a sigh of relief this morning, now hovering at the 36,000 level, on the day donald trump was elected president the dow

stood at 18,000, half of where it is now. the s&p will open with a modest gain of the nasdaq up 40 points. some green this morning. johnson & johnson in two separate publicly traded companies, consumer health separated from the pharmaceutical divisions. the cryptos have a nice bounce from inflation numbers and they backed off, in the low 60,$000 range. ethereum welsh i have a $5,000 level. interest rates got a bump from the deflation numbers and now they are down again, the yield on the 10 year treasury at 155. that is the financial market. in new york city radicals confronted and things turned ugly. black lives matter threatens

riots, fire and bloodshed if mayor elect eric abbott brings back the plainclothes anti-crime unit to take guns off the street. adam says he will not be intimidated. confronting climate change in the glasgow conference ending what has to be called failure, delegates from 197 countries still haggling over the wording of the final communiqué. it will be vastly watered-down. no breakthrough. i'm inclined to say thank heaven it is friday. november 12th, 2021. "varney and company" is about to begin. ♪♪ here we go ♪♪ here we go ♪♪ stuart: it is happening all over. johnson and johnson following general electric's lead

splitting into different companies. give me the skinny on this. >> consumer brands, listerine, one company with estimated full year revenue of $15 billion and pharmaceuticals, robotics, ai, medical devices, and other publicly traded comedy, that is considered riskier the faster growing because they have the covid vaccine. that division retains the johnson & johnson name and this is complete within two years. investors clearly like it. stuart: $5 gain, 3% up. nice gain. now it is still on a tear, this morning up another 2%, 126 is the price. elon musk has taken a shot at it. >> always takes a shot at his number 2. jeff bezos who is not as wealthy as him but now this is the third day of trading

caribbean, has yet to deliver vehicles, it is worth $120 billion and highlighting that, this is what he tweeted. i hope they are able to achieve high production and breakeven cash flow. that is the true test. there are hundreds of automotive startups but as a is only american carmaker to reach high volume production and positive cash flow in the past hundred years but caribbean is worth more than 100-year-old automakers by general motors. stuart: and whatever musk says, at this moment has not produced much selling. it is a 126. what do you have to say? doesn't have much effect. another electric carmaker, will unveil an suv. >> a smart electric suv, you activate with your phone and command with your voice, don't have many details that exxon is

unveiling it in china. they delivered 10,000 vehicles last month but more models could mean faster growth if the factory floor catches up with fundamentals. so many of these beating total's number 2 have high valuations. stuart: hard to get to tesla number 2 when you have them without delivering any cars. let's bring in kenny paul car lou:. you think this initial surge has been a remarkable surge. you think it is overdone? >> a little overdone considering where they are and what the story is, they are not going revenue or producing vehicles yet. i think it's very exciting but investors want to get into the electric space but it is -- i would like to own some. don't own any yet. i'm not going to jump into this

at the moment because after a week or so i want to see how it actss and reacts. stuart: do you own any of the vehiclemakers? >> directly know. i own tesla but i don't own tesla directly. any of that technology kathy woulds owns is how i am riding that wave. >> if you didn't have to worry about the price of the stock of electric vehiclemakers just forget the price which one would you pick if you were going to buy into that industry? >> have you seen their f150? settle at the cadillac and gm. have you seen their audi? those are unbelievably handsome cars from carmakers but we know. electric cars represent the future, they don't have to be at all, that's a higher company.

technology might. i tell you i like the electrics we are producing those companies as well and i own them. stuart: tesla, musk has been selling some more millions of his shares. what do you think of that and all these tweets and statements? very confusing. >> is like a circus man. he likes to tell everybody what is doing to create what is happening in the conversation. it says nothing about tesla, what he thinks of total. he has to fulfill a tax obligation. he doesn't have any money, it is all in his stock so he has to sell stock to pay the bills. i don't understand what the big deal is that he has got to sell, he's worth $300 billion, $5 billion is nothing in relative terms so this whole thing is over that.

the pressure on tesla in addition to that first tweet is a move out of tesla into ruby in. money is being reallocated so tesla might come under some pressure for that but the talk of him selling $5 billion worth of stock is baloney. stuart: got you. you are a tesla guy. good to see you. okay. you have done well. thanks. let's get to politics, the first block of the show. tammy bruce is with us. biden is not the man we were told he was. has the public been misled? >> that is a little misleading. we know this. every american knows this is not what we voted for for those who voted for biden. many expected this to warn

people. what we are looking at, scott rasmussen poll. in the larger context, bigger than biden is in every poll, harvard harris caps poll from the end of october 2nd a scott rasmussen poll that looks election integrity these polls show the american people in a massive majority, 80% of people as an example want people to show voter id, want voting machines in the united states, want dead people removed from the rolls, one selections to end on election day and not after. voters, 66% believe president biden is responsible for open borders, illegal immigrants should remain in mexico, he is creating policies harming the united states. they want the attorney general to remove the memo that

declared parents were potentially domestic terrorists that should be investigated, we are seeing and polls the american people in massive majority, not small ones indicating the country is divided that indicate the left has failed at indoctrinating us to accept their agenda after 50 years. this is the key when you see those is, normally polls are snapshots in time. in this case we see the american people, all sectors saying enough is enough. in a major way, to the very agenda of the american democratic party. that is significant. stuart: do you expect president biden to pivot? he is a captive of the left, that's not doing them any good. will he pivot for political reasons? can he pivot? >> he cannot for a couple reasons was when is, he's not his own political actor.

he is effectively the frontispiece for a group of illegal -- individuals on the left, the democratic party, nancy pelosi struggling with it, we know she's beyond her way out next year, he can't and also having come from the left here's what i can tell you, the american people have seen this, the left never adjusts. they move forward. they believe in their rhetoric that the american people are dumb, the we are bigoted and irredeemable, there's no reason in their mind to change, to shift. why would you, the ultimate in groupthink, why would you consider the concerns and attitude of a group of people you believe have no attachment to the truth? and if you believe you have sole possession of the truth, that's the problem with the left, that is endangering the democratic party which i believe the majority of which

is represented by people like kirsten sinema and joe manchin, they are portrayed as mine -- they are the leadership of the majority and the democrat party is going to have to deal with that and they have biden and kamala harris. it is a disaster for them. >> they have to deal with it at some point but not tomorrow. >> how do we open up? we open up literally, for the dow industrials. likewise matter threatening to bring riots and bloodshed to the streets of new york city. they say that will happen if the new mayor, mayor elect eric adams brings in anticrime program. he is not backing down. >> new york is not going to live in fear and we are not going to be intimidated by anyone, the city will not be a city. stuart: we will bring you the full story on that. nearly 1 million children under the age of 12 have gotten the

jab. have there been any problems with a large group. i will ask infectious disease expert matt mccarthy next. 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 (vo) the more we do with our phones, the more network quality and reliability matter.d this. and only verizon has been the most awarded for network quality 27 times in a row.

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stuart: this is the vaccine block. astrazeneca will price their vaccine to make it profitable. they were selling that to the cost to combat the pandemic. stock is down 3%. 1 million children under the

age of 12 have been vaccinated. have there been any problems for the children who got the jab? >> this is a situation where no news is good news. i came on your show after the vaccine was authorized for 5 to 11 but if you feel this is an emergency you to get your kids vaccinated right now. the safety data and efficacy data look great but if you are on the fence that is okay. let's see what happens and we are seeing the day after day tens of thousands, hundreds of thousands of kids are getting vaccinated, this is great news for those who are anxious about it. the thing i'm looking for is not after the first dose but the second dose. i'm concerned there could be some side effects. what i'm doing i am a father with two kids, age 5 and 7. i want to see what happens after the second dose around thanksgiving for the first week of september. if there is no safety signal parents should feel good about

getting the kids vaccinated but this is an underreported story i'm glad you are highlighting, the million kids age 5 to 11 have gotten vaccinated and not hearing reports of any concerning side effects was very reassuring. stuart: it is a large study group. that is valuable in itself. i follow every day the covid tracker. new cases are on the rise. we talked about this before. should we be concerned when caseloads go up again? >> absolutely. with the arrival of the new therapeutics people declaring we were in a new phase of the pandemic or the pandemic would be over by january i couldn't disagree more. i think the united states is in denial. 18 months ago when i said there is going to be a disruption to daily life we are going to see an increase in cases in the

northeast for the foreseeable future. cases are going up every day. the good news is we have safe and effective vaccines the protect people but we are not at the end of this, we're in the midst of the delta variant. stuart: we need to learn to live with it. it is never really going to go away. >> absolutely. this is a seasonal virus. the northeast can learn from how other parts of the country did live with this. if we see school setting down again, businesses, that will be a huge problem. austria announced a lockdown for the unvaccinated. i hope that does not come to the united states but you can imagine we are watching europe closely to see what is coming. stuart: doctor matt mccarthy. appreciate it. on a related note, over 100 children in virginia were given the wrong doses. >> and orange, parents should know that.

it is one third the dose of the purple which is the adult vaccine. watch what your kid is being given. in loudoun county, the pharmacy administered the adults 112 kids. the parents were told ask your doctor what to do. we can't tell you what to do next. most are told to get the correct dosage for the second shot or restart the process. just be mindful. i've been in this situation where i said if you are ready got the vaccine you have to be aware. stuart: yes you do. stuart: a wave of school closures across the country. grady trimble at an elementary school in chicago. why is that school closed? >> today is vaccine awareness day in chicago. it means every single of the hundreds of chicago public

schools are closed today, it is turning to a big headache for parents. they are scrambling to find childcare for their kids with only we get notice about the new holiday chicago public schools created. one quote a parent said to the chicago tribune it comes across ask alice to create this day, to create a day off is disruptive and disrespectful. that is not how most parents plan. there are problems in other school districts as well, that's a problem with scheduling combined with a staffing shortage. in seattle for example teachers were already offered veterans day and hundreds decided to take today off to have a 4 day weekend and the district couldn't have enough substitute teachers to cover for all those teachers taking the day off and they decided to close the school district entirely. in states across the country, including denver area, indiana,

maine, staffing shortages, vaccine awareness day, schools are closing and it is creating problems for parents. stuart: they called in sick by the hundreds, and - stuart: so sorry. it gets worse. check futures, open the market in 7 minutes time. we are going to be up not a lot for the s&p and the nasdaq. we will be back.

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economist or work any industry, whether it be a cold winter forecast or geopolitical issues in the middle east but got to tell you there's a new sheriff in town. if you look at the climate activists, pressuring the price of oil to the upside, and to heat our homes. bsg investors. >> the price of oil goes up does that mean the stock price of big oil goes up. >> psg investors going after the energy industry and getting them to curtail their drilling activities and illuminate them. that will hurt supply with that supply coming on that will increase the price of oil. energy companies reducing so

they should become cash flow machines with cash they are not spending on drilling for new oil, that capital should be returned to shareholders in the form of dividends or stock buybacks. that's happening in the energy industry. stuart: what about natural gas companies. does that go up? >> the heating season, winter season and the impact of those investors impacting the sector they will curtail tracking and drilling of new wells and that will take supply off line. we want a greener future for our children but it will take decades to shift the technology than fossil fuels will be around us for a long time. they are not going away anytime soon. stuart: you will catch hell for

recommending investments in fossil fuel companies. >> iraq and looking at a basket of etfs was they will benefit by higher prices. americans will be paying more at the pump. stuart: i think we are. greg smith, all good stuff as we await the opening of the market. got to ring that bell. they will start with stocks. here we go, 9:30 on friday morning, november 12th all day and we have opened to the upper side. they've not got all open. and most are on the upside to the tune of 126 points, a third of of one%, we are above 36,000. the s&p over a 12:45% and the nasdaq doing well. green across the board, big

tech, i presume we are doing well with nasdaq on the upside, microsoft, apple, alphabet, amazon, made a platforms as in facebook. good morning, susan. how are you? what have you got? >> i went to ask what you think compared to elon musk and has a's ipo a decade ago. musk is right, tons of car startups with you surviving over the past century, only tesla and ford filed for bankruptcy. it is tough business so why would you buy a stock that values itself at $100 billion, most of those going to employees. this is the sixth biggest ipo of all time. compared to tesla's ipo in 2010 they had $90 million in sales valued at $2 billion. they had $90 million in sales

versus 1 million, piling into this ipo without a lot of sales so far. stuart: back to what i said the other day, amazon's involvement, 20% of it. >> 100,000 vans have been guaranteed, there's got to be a longer-term stock before you buy in at these valuations. stuart: let's just say it is frothy at $132 a share. what is on tesla? >> look like elon musk sold half 1 million shares last night as well. remember the twitter poll asked about 10% of his tesla stock, $30 billion in stock options by

august of next year, you will keep that, to pay the tax bill, elon musk only paid $13 million for that $30 billion in stock. that the huge capital gains bill and maybe getting ahead of the surcharge on capital gains the democrats want to impose on people as rich as him if they get their way. stuart: you know what is on my screen on the prompter? nvidia and they are talking a downgrade. is that sacrilege a downgrade for nvidia? >> very rare at $700 billion in chipmaker, 132%, through this downgrade and we are downgrading, raising or talking price of $100, nothing to do with business, nothing

negative, everything is built in whether it is meta-verse, cloud, ai, self driving, built-in already. stuart: we are following it closely. johnson & johnson. what do we know about this? >> end of an era. ge splitting into 3, these companies have been around for a century. for j and j can splitting consumer products into a separate entity, medical devices, pharmaceuticals will be separate, neutrogena in that consumer goods division. and the faster growing drug and medical device division. and and and the separate

businesses as much as the companies, and the market should. >> and >> here's a bit coin story. and >> bitcoin, either to order tickets, adam aaron tweet, big newsflash. we have to be real here. because of this high transaction costs. because so many people are jumping on either to buy a $10 billion boom over the summer on the block chain, i've

seen $500 to buy something, that is 6% but no one uses bitcoin to pay for things. stuart: a publicity move. >> for bitcoin and assyrian to get more mainstream those transaction costs have come down a lot, you see bitcoin get to the 100,$000 range. stuart: yesterday, bad day for disney, streamers are in trouble. >> since last year, in 2021, disney plus subscriber growth slowing dramatically. you saw that. 118 million global subscribers. same thing we saw for netflix, pretty dismal new subscriber ads. the smallest for disney plus since its launch. maybe 260 million by 2024.

you see the build up from covid, staying home to stream, that new subscription, people are pricing a bit of a slowdown. stuart: let's run through some now winners, johnson & johnson tops the dow winners list of 2%. microsoft as well. by seagate technology. cardinal health caesars entertainment, nasdaq winter amethyst, micron text, synopsys, adobe, none of the big techs are on that list. dow industrials in early going going up 90 points, that is a 12:45%, 10 year treasury at 156, price of gold at $18.59.

bitcoin in the low 60,000 range, oil $80 a barrel, natural gas hovering around $5 per million british thermal unit and the average price of a gallon of regular is still $3.42. regular now averages in the formerly golden state $4.66. next case former president obama's economic advisor admits this administration is caught flat-footed. >> doesn't look transitory. it doesn't look to be a few specific factors, in september when they went back to school the labor force would grow and it didn't happen. >> what is the president's inflation plan? inquiring minds want to know. not just car prices soaring, new ones that you back as well.

we will tell you how much? it is a big number. if you are looking to make money, top tech analyst mark motthaney has the next amazing stock. that is next. ♪♪

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stuart: you are looking at jeffersonville, indiana, 46 degrees on friday morning. mark marrhaney, you have a new book, the title is nothing but the net, 10 times stock picking

lessons for one of the top tech analysts, you're a top tech analyst and you are on the show. what are the asked amazing starts. you list them in the book. start with spotify. >> and some of the existing tech platforms have lots of room to run because they face adjustable markets. 3 of the 4 major factors i look at, i look at the last 20 years of tech stocks, facebook amazon, netflix, google and failures of the last few years to draw lessons what makes companies work in stocks work and what doesn't. to apply those going forward can end stocks and highlight a few new ones. spotify on the top of the list.

stuart: m out for me. in what way will that be an amazing stock? >> i want to start with a key point. fundamentalists drive stocks, one of the clearest lessons of the last 25 years. they are not disjointed or divorced from each other. why would spotify get stronger, the global music market, this is the company with compelling value proposition with a price increase, when companies show you they can implement price increases, like amazon has done with its prime program, when they show that their value proposition is compelling to consumers, i put those factors together, even though the number of people who use smart

phones, roughly the same. spotify is a company that my frameworks as long-term investors a should be a nice performance. stuart: i see a list of stocks you call amazing on the left-hand side of the screen and i see chewy. i thought chewy with pet food supplier online. what is amazing about that? >> the same framework, $100 billion total adjustable market and it will expand internationally to 200 billion, this isn't a founder led company but has been exceptionally good with its value proposition. you also have a little pricing power there and business model that could scale up and be more profitable. that's a lesson i draw from injury.

scale generally solves most things, something that would never generate a profit. that was amazon for the first decade and a half of its life as a public company, they proved with scaling revenue growth you can generate material amounts of profits. the last quarter, everybody says the business market would never be profitable scale would get you there. chewy, one of the factors i like. stuart: amazing stocks this side of the screen, good luck with the book. i'm sure you will be back soon. miami is going to share the gains they made from crypto currency. can you tell me how this will work? >> free money, dividend disturbing to the - who and how much is determined.

they will change their address. taxpayers or registered voters are figuring it out. the future goal is miami coffers supported so much, for local taxes. how many people would move to miami. this is brought in $22 million revenue. stuart: i do not understand how it works. you told me. >> the miami coin is used, miami gets 30% chunk of that. they made so much money will be $80 million, they are giving it back to the people who live there. or some of the people, the yield, free money all of a sudden. i am just getting old.

telethon, this is not for you, not a fan of let's go brandon was they are blocking users from adding that phrase to their profiles. how much would you pay for slice of pizza in new york? a dollar? inflation has hit the pizza slice. ♪♪ ♪♪ ♪♪

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[swords clashing] - had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. stuart: there was a mention of pizza. looking at 6 avenue, 64 degrees. to the pizza story, new york might be an extensive place to live but something new yorkers used to rely on would be the

one dollar pizza slice. inflation, times are changing. madison joined us from the city. no more dollar slices. >> hard to believe, one dollar slice, thanks to inflation, they haven't opened yet but they have been open since 2008, the pioneer of that -- visitors and residents rely on but thanks to inflation, selling that for one dollar, one is safe from these rising costs not even that. and bumping up the price of the pizza looking at stable ingredients, according to the latest data wholesale food prices restaurants they is a 13% year-over-year, the largest year-to-year increase in 30

years. the owner of the shop saying, quote, inflation is affecting every ingredient, every item we use, cheese, tomatoes, paper fleets, napkins, everything. the customers we spoke to, the cost of everything going up, 50% increase is the latest in a string of sticker shock. >> that is insane. >> when i used to go to new york it was my savior a couple times a week. with everyday people in new york it is getting tougher. >> it is annoying, inconvenient. >> inconvenient, 50% increase but at one dollar and 15, the cheapest you can get but it is not just pizza. everything is going up, the

supply chain issues, cost of ingredients and cost of labor cutting into our wallet and our pizza. stuart: the horror. see you again later. senator bill haggerty, former governor of arkansas mike huckabee. matt schlapp will join us and so is steve hilton. the 10:00 hour of varney is next. ♪♪ d we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones

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earn 5% on travel purchased through chase with chase freedom unlimited. you do this for everyone? i try. hm... excuse me, ma'am! earn big time with chase freedom unlimited. how do you cashback? chase. make more of what's yours. muck i have spent all my if life waiting for tonight. ♪ oh, when you will be -- stuart: good morning, everyone. it is 10:00 eastern. straight to the hundred. i'll start with big tech. let's see how it's doing this morning, and away we go. big tech is doing quite well. there's only one loser, and that is amazon. now it's up a couple of bucks, so big tech's doing okay this friday morning. bitcoin is down to 63,000 per coin. 10-year treasury yield still around the mid 1.50s, 1.56 to be reice.

johnson -- reice. johnson & johnson is up 1.5%. most important, we just got the read on a political number, jobs. that's the number of job openings. what do you have, lauren? >> more than we expected, 10.438 million jobs were open in the month of september. more than we thought. essentially, in line with the prior month and not too far from july's all-time high of 11.1 million. stuart: yeah. so you've still got this surplus of available jobs. >> yep. stuart not being taken by the millions of people who are currently out of work. now, another important number, consumer sentiment. what do we have there? >> this plummeted to a 10-year low of 66.8. the expectation was 72.4. giving that to you so you can see how far our views of the current economic situation and rising inflation eating at our

achecks has been -- paychecks. this is a current number. it's university of michigan for november, 10-year low. and it just reflects falling living standards because the price of everything has gone up so much. stuart: it's a reelection of inflation, that's what you're saying -- reflection. no impact on the market though. still seeing green pretty much across the board, just a little of it. all right, everyone, now this. confronting radicals, rooting out their dangerous ideology. it is not going to be easy. they are entrenched in the democrat party, but this must be done. our cities and schools are at stake, and so is the viability of the democrat party. you can tell how hard it's going to be, just look at new york city. the mayor-elect, eric adams, wants to bring back plain-clothessed police

officers. he is confronting the radicals. black lives matter is not happy. one of blm's founders said, quote, there will be riots, there will be fire, and there will benefit. the parents saw this. that's what one parent wrote in "the washington post." parents are winning this fight fight, but they were still labeled domestic terrorists. it wasn't easy to get that win. it is the left which now defines the democrat party. if the democrats want to be viable in the elections one year from now, they need to redefine

what the party is all about. it's not about is gone, and that's unfortunate, so i'm having a rough day. but to your question, the democrats are having a terrible day and a terrible year, but it is of their own making. and your question will they learn are, no, they won't. but the fact is there is no education in the second kick of a mule. and they're going to have

several kicks before they start realizing that america is not buying what they're selling. they don't want it. they don't want lawlessness, they don't want open borders, they don't want a military that is more woke than prepared. they don't want an economy where gas and groceries cost more than in their entire lifetime. they don't want race to be the primary thing their kids are taught in school. they kind of want to get back to the old three rs, reading, writing and rithmetic, not race, the fourth r. so heir not learning -- they're not learning anything, and this is not going to help them. but it's sure good for us that are republicans. [laughter] stuart: it's fun to look at it from the if outside, isn't it? next, larry summers is warning president biden about inflation. watch this. >> i think that the policymakers in washington, unfortunately, have almost every month been

behind the curve. they said it was transitory, it doesn't look so transitory. they said it was due to a few spec factors, doesn't look to be a few specific factors. they said when september came and people went back to school, that the labor force would grow, and it didn't happen. stuart: governor, i do not know what the president's inflation plan is except maybe pass this joy quantityic spending plan -- gigantic spending plan. do you think that's going to work? >> no, in a word, it won't. it's interesting that larry summers basically gives joe biden a grade of 100, 100% wrong on every single thing he's doing with the economy. but the impact upon families is dramatic. go to a gas station and watch as a single mom reaches up there and squeezes the handle and carefully puts $5 of gas -- which you know is not what he

needs, but it's all she can afford -- that's barely going to get her kid to daycare, her to work and maybe not enough to get home. that's the reality that most families, working families, are living in. and is biden comes along and says, oh, by the way, on top of that if you don't get the vaccine under mandate, you're going to lose your job, and you won't be able to get welfare benefits. and yet if you are a welfare recipient in this country, you don't have to get the vaccine. think about that. stuart: yeah, amazing. and still no pivot expected from the democrat party. >> no. stuart: governor, good stuff. thanks very much, indeed, sir. appreciate it. now, on a related note, one of president obama's top economic advisers says president biden deserves some of the blame for surging inflation. what did he say, lauren? >> yeah, for the policies like stimulus checks. he said those pour kerosene on the fire. he says inflation is maintaining a red hot pace, ask then he

pointed his finger at jay powell. >> i think inflation's a problem. our economic system, it's the federal reserve that is tasked with inflation. they need to be shifting their policy and starting to tell us what they're doing now that inflation is still high even before we've reached maximum employment. >> and here is the problem, jay powell is gunning for reappointment as fed chair. he's going to sit on his hands until he knows the he has that position, so nothing is going to change for the next couple of months, likely, and in the meantime, time is the worst thing the biden administration needs because prices keep going up. university of michigan in november, current -- future expectations down 11% from last year. so we're not optimistic looking forward either because of inflation. stuart: no, we're not. got that. lauren, thanks very much, indeed. let's get back to the markets. plenty of green left-hand side of your screen. jonathan hoenig, all right, jonathan, what is your favorite

inflation hedge? >> well, first thing, stuart, great to be with you. just to think of inflation as a process if, okay? it peaked in the early '80s, for example, last time around. it really started in the early 19703s. it wasn't -- 1970s, it wasn't actually a three month blip. think of inflation as a bull market in wealth creation, and i think there a's a couple of ways of diversify and still headache money one of which is zero duration bonds. it sounds out there, but these are bonds that are hedged against rising interest rates, and the easy one to remember is agzd, that's one i'm looking at that could basically offer a good long-term hedge against inflation. stuart: okay. what about gold? you used to like gold. you used to be the guy who came on here and said, hey, get me into gold. >> yeah, absolutely. i think gold is another one you can hold long term. the problem with gold for most people, stuart, for them it's

all or none, and that's not the way you approach a long-term trend. again, you diversify. platinum is another, a third one which is probably the most out there but, again, to diversify against inflation is a they call carbon offset funds. again, sounds out there, but a big source of inflation is going to be energy, it's going to be driven by government and especially now this idea that you tax carbon. carbon cents is going to be an asset even as big as bitcoin, and krbn is what i'm looking at as a hedge against carbon taxes writ large. stuart: are you warming up to cryptos at all? [laughter] >> let me see, yeah. when i think of cryptos, i are have a price target. i see support at 0, stuart, to make a little, small joke there. look, just to wring back a bit of history -- [laughter] take the street.com, it's a web

site, as compareton. in 1999 it had a valuation of $1.2 billion. in 2019 it has a valuation of about $16 million. that would with a similar price trajectory, i think, long term for bitcoin. stuart: okay, that answers the question finish. >> a 99% decline. stuart: yeah. that's what you think of the cryptos. i understand, jonathan. thanks very much for joining us, we'll see you later. thanks a lot. all right. lauren, come on in here, please, we need to talk about the movers. lordstown is truly moving, down 20%. >> we'll get the bad one out of the way, they delayed the launch of their electric pickup again. so the endurance is expected now to launch late next year. then you have blink charging, this is an ev charging company. not only is it up 17% -- well, now it's up probably 30% on the week. why? you have the infrastructure deal and thest catalyst is their record revenue that they just reported. it's showing they are growing

fast because people are adopting evs much more quickly. and caesars entertainment, they were initiate at a buy, they're at 105 now after a gain of 3.5%. the rice target they got -- price target they got was 191. they've got the casinos, the digital casinos and hotels. stuart: all right. got all of that. thanks very much, indeed, lauren. let's go brandon has become a popular chant across much of the country, but peloton is not ongolder -- onboard with it. they're banning that phrase from their very expensive bikes. mayor-elect erin adams -- eric add ams refuses to back down. watch this. >> there are very few things that intimidate me. new yorkers are not going to live in fear, and we're not going to be intimidated by anyone. this city is not going to be a city of riots. stuart: all right. we have the full report for you

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♪ ♪ stuart: isn't that beautiful? san francisco's golden gate bridge. we're going to do a special on the golden gate bridge on my show that runs on prime, fox business prime. it's 57 degrees right now ask, yes, it is beautiful. on the market we've till got green for the dow, up about 100

points. the 10-year treasury yield coming in at 1.54%. the big news this morning which i don't think it affected the treasury yield was the jobs report. that's the job openings. they're at 10.438 million jobs going a-begging in the month of september and still millions of unemployed. can't get 'em together. the mayor-elect of new york city, eric adams, wants to bring back plain clothes police officers. black lives matter says that will spark riots. bryan llenas is in new york. bryan, i know you spoke to the cofounder of black lives matter in new york. what did he tell you? >> reporter: yeah, stuart, good morning. i did speak to cofounder of black lives matter of greater new york, and he said, look, listen, i'm not personally advocating for violence when he said that there would be riots, fire and bloodshed in the streets of new york the if new york city's mayor-elect eric adams goes back to the, quote, old ways of policing.

adams did say, look, at the end of the day what i am saying is the he does bring back those anti-crime plain clothes police units dismantled in 2020, riots and violence like we saw in the summer of 2020 would be inevitable. >> the fact of the matter is when eric adams allows these police to go out into our city and crack heads and racially profile individuals, there's going to be incidences of police brutality, and it's only a matter of time before someone dies, and that will be a trigger. and we all know what happens when that trigger's pulled. >> reporter: newsom's group met with adams on wednesday. it was live streamed on instagram. it got contentious when newsome demand add also get more specific if on how he wants to reform the ny, d. yesterday with -- ny, d. yesterday adams called it fringe

and comments about bloodshed in the street silly. adams reiterated yesterday his promise to bring back those plain clothes police officers. >> this city is not going to be a city of riots, it's not going to be a city of burning. this is going to be a few city where we're going to be safe -- to be a city where we're going to be safe, we're going to have effective policing that's not heavyhanded. >> crime in new york city has surged this year. the nypd is thousand looking for this man -- now looking for this man after a woman in her 20s was sexually assaulted here yesterday in central park at 7 a.m. another sexual assault within the same hour happened in another neighborhood. a 54-year-old jogger sexually assaulted. the suspect identified as howard shaw. he allegedly sexually assaulted that 54-year-old woman. shaw was released from prison on tuesday and is now back in custody for this assault. stuart? stuart: bryan, we hear you. thank you very much, indeed.

all right. i want to bring in matt lap for this one. -- schlapp for this one. welcome to the show. this is one more example of the difficulty of confronting radicals inside the democrat party. i don't think that party does very well unless they get the radicals out. what say you? >> i agree. you know, stuart the, you and is i talk a lot about socialism and the tax policies and the regulatory policies and the overspending, but the other piece of socialism is this idea that you can't have institutions like the police which keep law and order on the streets. and what they do is they try the say that because there are definitely episodes of poor policing and terrible tragedies, that we should just defund this whole movement. so you have this mayor this new york city who i think is a very brave person. i don't know him, but what he's saying is common sense which is if you don't fund the cops, you have a lot of dead children, a lot of dead people and people of color overwhelmingly.

that's what we've seen around this country. and, you know, stuart, it was just rejected in seattle where they had a citywide prosecutor get elected who wants to stop this kind of pro-crime policies, and it happened in minneapolis where george floyd was killed. they voted down a referendum to defund the cops. so you are exactly right, if they don't get rid of this radicalism, the american people will rise up which is what they did on election day. stuart: do you think they will confront the radicals and get rid of them? i mean, president biden has not confronted the far left, he hasn't confronted the squad. he's joined them. but i would suggest that if you want to have an election victory in the future, you've got to get rid of the squad, oppose them, confront them and get them out of the party. that's where i'm coming from. >> i'm really split on this because i want to beating the democrats -- keep beating the democrats, but i also want my nation to heal, and it is not healing with these policies.

what i heard from the white house even just the other day, everything they will do will put equity first. and what equity heenes is all this radicalism is front and center in the biden administration. tragically, unlike bill clinton who said the era of big government is over when he got his tail kicked, unlike barack obama who said he got a thumping, i've heard no humble response about the fact that the american people are saying, please, stop this. you're hurting my family. stuart: you're right. absolutely right. matt, thanks for being with us. you got that one exactly right. >> thank you, stuart. stuart: see you again soon. >> now this, the chant let's two brafn done sweeping the country. lauren, peloton is censoring that phrase? >> >> yep. stuart: tell he more. >> so like-minded people would be people who don't like president biden, and then you take a ride with them on peloton. and that hashtag would often

show up on the leaderboard. well, peloton has blocked it. some accusing peloton of taking political sides because they did not block defund the police, they did not block black lives matter. some create ecs are going -- critics are going even further saying users should boycott peloton for this. stuart: if i paid $2,500 for a bike, i want to put any phrase i like on the screen, you knowsome that's where i'm coming from on this. >> i hear ya, and it is hypocritical that other controversial political phrases were allowed to be used. stuart: exactly. where's free speech when you paid $2,500 for a bike? lauren, thanks very much. i want my free speech. now then, show me the dow 30. even split between winners and losers and the dow is up, what, 65 points, just a little shy of 36,000. do you remember when president biden said his massive spending plan would not raise taxes for the middle class?

roll it. >> i will raise taxes for anybody making over $400,000. there would be no need for it. i will not oppose any tax increase on people making less than $400,000. stuart: well, the nonpartisan tax policy center just released a study. it says the middle class will pay more in taxes next year. we'll tell you how much in just a moment. ♪ ♪ promise he no promises -- promise me no promises ♪♪ dad, we got this. we got this. we got this.

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(crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf. ♪ stuart: we are now open on this friday morning for exactly one hour. the dow's up 30, nasdaq's up 40, s&p's up 6. some stocks are moving, for example, 3m, susan, what's moving it? >> so wall street is playing the guessing game on who the next 100-year-old plus conglomerate is to split up. j&j today, ge earlier this week. so 3m, there's chatter now on the market that this might be the next big company with a lot of different businesses when it

comes to scotch tape, also car parts and chemicals, possibly to split up. isn't that interesting? which tells you it doesn't create value. that's what this split-up and these companies looking to parcel out. stuart: yeah. and maybe they're worth more in separate, little companies than altogether in one con conglomer. i guess that's the reason. very interesting trend though. >> yes. stuart: what else have we got? >> western union is rallying after expanding its payment partnership with mastercard. and as you know, fin-tech getting more people to use plastic and spend around the world. obviously, another big trend that we're seeing, and both of these names are men fitting from that. ask and i also want to touch on rivian, why not, stu? probably the big ipo ever. rivian might be using some of that $12 billion cash raise to look at a second ev plant right here in the u.s. there are no indications right now where they're looking, but that's where some of the cash spend might go, and also

they'ring looking to ramp -- they're looking to ramp production in europe in 2023. stuart: what are they worth now, $120 billion? they must have created a couple of brand new billionaires when they did the ipo the oh day. >> a lot of people are scratching their heads in terms of the valuation. and i lo that comparison to tesla in 2010. at least tesla back then had $90 million in sales, and they were worth $2 billion. stuart: it's hard to explain, isn't it? i think there's just a ton of money out there looking for a lace to go where you height make a process, and why not -- might make a profit. why not rivian? susan, great. thanks very much, indeed. we'll see you again next hour. there were an amazing 10.43 million jobs available, job openings, i should say, in the month of september. peter morici is with me. how come there's so many job

openings and so many people on the sidelines unemployed? how do we get them all together? >> well, the skills that businesses need are radically changing very quickly. at the same time the biden administration is paying people to stay home, and they're not getting themselves training. you don't have to go to college for four years or get a master's degree and go for six to get skilled up at something that's very useful. but you have to be willing go get training and generally to relocate, and the biden administration is just basically saying we'll pay you to stay home. stuart: do you think we're now approaching the time where some people think, you know, there's expensive college credentials, they're just not worth with it, and a lot of jobs no longer require that expensive college degree? we're getting to that point, aren't we? >> we are. i mean, for the last two or three years i've published columns on occasion which point out that 50% of the college freshman class are making a bad invest ifment. they will borrow money ask drop

out, or they will receive a degree in something that i pays them about what a high school education pays. so on an chick basis, half of -- economic basis, half of the freshman class this year in america is making a bad investment. stuart: well, are fewer people enrolling in. >> we're starting to see some dip. but the thing is the biden administration has been pushing very, very hard people should go to college just like the obama administration. they really have a 1970s corporatist view of the world, you know, fix the labor unions, keep big companies from merging when they want to break up and so forth. they're really chasing, you know, yesterday's problems when they try to solve what's going on today. we have, the trump administration created and expanded a lot of apprenticeship programs. and i'm not talking about plumbers and welders and so forth. this is across a whole range of

white collar-type occupations where people get a paid $15 an hour to basically train. and after two years, 90% of the graduates make about $55-60,000 a year which is a bit better than the average salary of a recent college graduate. and among recent college graduates it's bimodal. you know, those that take electric call engineering get $100,000 a year. those that take social engineering get $0,000 a year -- 30,000 a year, and hen they go to the democratic party and complain it's prejudiced and biased ask all the rest. so, you know, it's the biden administration. the biden administration is bad for america. it's toxic. stuart: okay. i'm going to leave it right there, peter, because that's what we call a good out cue. >> thank you. stuart: thanks very much for joining us, peter. >> take care. stuart: the nonpartisan tax relief center just released a

study that shows biden's spending plan would benefit the rich. >> oh, wow. stuart, it would give a tax cut, a tax cut to two-thirds of people making more than a million dollars a year because democrats lift the cap on state and local tax deductions to $80,000 all while hurting the middle class, and those are the people the president promised not to raise taxes on. so i read from the tax policy center's findings roughly 20-30% of middle income households would amore this taxes in 2022, and that really complicates theticture on capitol hill. look -- the picture on capitol hill. build back better could be a case of dueling estimates and dueling viewpoints, right? build back better stokes and causes inflation, no, it solves inflation. all over the place. in the end, do they kill the bill? if. stuart: yeah. could it kill the bill? very good question. i hope it does. president biden plans to

appoint an infrastructure chief -- i just read this. what's this, some kind of czar to oversee all infrastructure? >> exactly that. an infrastructure implementation coordinator. axios is reporting that the president wants to make sure the bipartisan plan funding is dispersed perfectly. time is of the essence here, right, because many of these projects are going to take years to actually be shovel ready. so when you put this on the calendar, voters are going to the need to see some of how all of this money, this one plus trillion dollars is helping them when they go to the polls, so the president needs a flawless execution. stuart: got it. thanks, lauren. a school district, we've got one school district in california just voted to defy governor newsom's vaccine mandate. is california starting a revolt? if steve hilton on that. president biden says high gas prices is a priority, so what's he going to do about it

besides beg opec to produce more oil? we've got a report coming up from the white house next. ♪ come on and rescue me. ♪ come on, baby, and rescue me ♪♪ (naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to? (naj) no, we do it because it's the right thing to do. we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility. (naj) one that we don't take lightly. it's why our fees are structured

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♪ we don't care who sees. ♪ so what we go out? ♪ that's how it's supposed to be -- stuart: that's seattle. surprise, surprise, it's raining. and it is a cool 57 degrees. president biden says fighting the energy crisis and inflation, that's a top priority. edward lawrence at the white house has the president actually explained how he's going to curb rising prices? >> reporter: he's tried to do it, but the white house is looking at asking but no real immediate action to bring down those energy costs.

vice president kamala harris in france this morning, she says basically she's trying to these with americans -- empathize with americans who are paying more driven by the increasing energy prices. >> fully appreciate the significance of things costing more. it's a big deal. it's a big deal. and so we are doing what we can, making it probably one of our highest priorities. i've talked to the president about it often, one of our highest priorities. we need to bring costs down for the american people. and in particular, for working people and working families. >> reporter: but it's unclear how the action the white house announced will make an immediate impact. the administration has asked can opec to push more oil ark that's fallen on deaf ears. so far the president has resisted tapping the strategic oil reserves, something democrats are now starting to say needs to happen.

>> we've got to take aggressive action. he ought to tap the strategic petroleum reserve and tell opec that we need the supply. we give the saudis lenity of money in arms -- plenty of money in arms. we ought to be investing heavily in renewable energy and electric vehicles so that we reduce the demand. >> reporter: so far no immediate action coming out of this white house. this afternoon the president will hold his third cabinet meeting since taking office. normally those cabinet meetings happen with the vice president, but this one was scheduled while she's over in europe. back to you. stuart: i'm sorry, edward, but they are absolutely clueless, and that's not too strong a word. they don't know what they're doing, and that's a fact. >> reporter: we're going to ask some more questions about this, pointed questions, and we'll see what happens. stuart: good. good. let's see the if you get an answer. don't hold your breath, edward. [laughter] all right. we have a group of senate democrats urging the president to ban crude oil exports. hey, lauren, are they arguing

that that would lower gas prices? >> yeah, yeah. and it comes from 11 democrats including senator warren. i want to give them credit because they're admitting energy's too expensive. they're admitting their policies aren't working, but their solution doesn't work either. if you ban exporting oil, what that does is make more domestic oil here in the u.s., pushes down prices, it hurts our producers, right? it also insures opec makes more money because prices overseas stay high. so the solution is to stop banning and stopping pipelinings. let oil companies take the off the red tape and let them actually produce this commodity for us. stuart: have the oil -- have the energy companies found any way around the supply chain crisis? >> 3-d printing. if you look at the companies that do the 3d printing, one of them says they're getting a lot of demand from energy companies and also from metal manufacturers. so here's the deal, because of

the supply chain crisis sometimes you're missing just one part, and that's the entire product. selling that product or the operation of that product. so you have these companies experimenting with 3-d prohibiting for certain -- printing for certain parts, and in many cases it's working. so the pandemic, unfortunately the problem of it, has created innovation, and we should see more 3-d printing going forward as a band-aid or maybe a solution that sticks. stuart: the policymakers are clueless. i repeat, clueless. but that's just me, lauren, you don't have to agree. [laughter] moving on -- [laughter] vice president harris claims the president's massive spending bill will pass soon despite pushback from moderate democrats. is republican senator, repeat, republican senator bill bill hagerty just as sure that it will passing soon? we'll ask is him in our next hour. hoping to score a deal on a new car, don't hold your breath. prices for both new and used

cars are soaring. are prices going to go even higher than this? the co-ceo of lift technologies, that's the used car marketplace if, joins me me next. ♪ -- laid back, swerving like i'm george jones. ♪ smoke rolling out the window, an ice cold beer sitting in the console. ♪ memory lane up in the headlights -- ♪ got me reminiscing on them good times ♪♪ and you could fearlessly face the unknown. (kids playing) you still can. ♪ ♪ (blowing dust) when you have a rock you can depend on for life, you'll be unstoppable. that's why over 5,500 companies rely on prudential's retirement and workplace benefits. who's your rock? ♪ ♪ traveling has always been our passion,

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stuart: president biden will visit a gel motors factory zero plant in detroit next wednesday. it'll be the company's first fully dedicated electric vehicle assembly plant. bind plans to tout the -- biden plans to tout the infrastructure deal while he is there. the average price of a used car, i'm surprised to hear this, $28,364 in september, that's up nearly $8,000 since february of 2020. tobe by russell is with us. -- toby russell, he's the co-ceo of shift technologies, that's an online used car marketplace. toby, welcome to the program. are used car prices going up some more in the near future? >>ier, they are, stuart. we're seeing continued rising of

prices as a result in shortage of new car-. stuart: okay. give me an example. say the average ford sedan. one year ago compared to today, what kind of a price increase are we talking about? >> talking about around 0% or more -- 30% of more of the car that's sitting in your driveway right now. might have been you had a car that was worth $10,000 back then, it could be up to 13,14,000, even more depending on the part of the country you're this. substantial change in used cars. stuart: so despite these very sharply higher prices, are consumers still buying? are your lots emptying out rapidly? >> what we're seeing is consumer demand remains. folks are coming out of covid wanting to be out and about, wanting to be able to drive. in the case of shift specifically, we actually buy from consumers to consumers, and so we're seeing quite a lot of traffic on the platform. we just reported tripling our

revenue year-over-year. stuart: so someone with a car, they come to you and say, right, i want to sell this thing, and you find a buyer for it, and you take your piece out of the middle. that's how it works? >> that's right. it's an exchange. buy from consumer, sell to consumer. stuart: and if i buy on your platform, do you deliver? >> we do. whether we're delivering it to you anywhere in the country or bringing it to your house for a test drive, it goes from your computer to your home, and you can shop online without having to interact with anybody. you can then choose the car, and we will sell it to you online and bring it to you. stuart: now, do i pay a delivery charge? i'm just intrigued at the whole idea of your platform. do i pay a delivery charge? >> mailing a car is not like doing a book, so if it's a long haul trip, there will be a shipping fee. but if you're closer to one of our what we call hubs, that shipping fee is little or zero.

stuart: do you try to link up buyers and sellers in the same geographic location? >> that's exactly right. most of the cars most people are buying can be found ask sold within the same geographic area, so that eliminates their shipping fees. stuart: yeah. you've done well. shift co-ceo toby russell, thank you very much for joining us. okay. we'll see you again soon, thanks a lot. new car prices, let's turn to that section of the market, surged to a new record high last month. lauren, i know it's a wig number. >> yep. stuart: tell me, how big? >> i asked around studio, people guessed $28,000. no, $46,000. average prices for new cars up 13% from last year. tight supply, preferences for big vehicles, they're usually more expensive, and new you have people commuting -- now you have people commuting back to work again. this is the reality that we're

in. in the market for a new car, can't afford the one that i want. stuart which one do you want? >> so there's a few because i'm not ready for the mini van yet, so we need two captains' chair asks and then the third row. -- chairs and then the third row. there's a contenders. they're hard to find. stuart: family vehicle, i got it. there's more on the supply chain crisis, that's what we're really talking about here -- >> yeah. stuart: and i'm told that retailers are slashing their ho dahoy hoai l ads thisdshidshids >> d o emberexus'ex they co dt y yearem cae youe canertiseertiseorsesese c car y y nototot geout f. and ifanouank akkk aaknn l,ra the inven ien arere thonire- n ol 's wat oo peive.iv ivlo's great g f gheir s, r inutut dut i peenrmtlantleng he sho ar we w way a goingoioi toiooi y or cororlrice?

appensapns bckck f i do n' es it i i i t year? y st haveavav noa.a. you kut ht h a tnyal a toutout it,hat'shat's interesti. [inaudible conversations] stuart: the market shows solid gains. nah, it's not that great. we are seeing some gains across the board, but it's not that great. up 30 for the dow, 50 for the nasdaq, 10 for the s&p. still ahead, steve hilton, luke lloyd, tennessee senator bill hagerty, and this: the climate summit in glasgow ends today, and after two weeks of haggling, all they've come up with is a few watered-down statements of intent. is it time to rethink how the world tackles climate? that's my take, and it's next. ♪ you're not coming home with me tonight. ♪ you just want attention, you don't want my heart. ♪ baby, you just hate the thought of me with someone new. ♪ yeah, you just want attention --

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>> we are not at the end of it. we are in the midst of the delta way. if we see school business

shutting down that will be a huge problem. we are watching europe closely. >> inflation is like a bull market in wealth distraction. there are a couple ways to diversify and make money in the same process. >> a massive majority of the american people, not small ones indicating countries divided, indicate the left has failed at indoctrinating us to accept their agenda. >> democrats are having a terrible day and a terrible year but it is of their own making and america is not buying what they are selling. they don't want it. this is not going to help them but it will be good for those of us who are republicans. ♪♪ stuart: it is 11:00 eastern time. we would go through financial markets, open for an hour and a half and we have some green, dow industrials up 60, s&p 14, nasdaq 60 it.

not much movement for stock prices. bitcoin the same story, around 63,$000 per coin as we speak. big tech mostly higher but again not that much. meta--- made a as in facebook, amazon, apple up. the meta-platforms up 3%. 156 is the yield on the 10 year treasury, not much movement for the 10 year yield. now this. there will be no grand sweeping climate accord from the glasgow summit. it ends today but after two weeks of haggling delegates from 197 countries always come up with his a few watered-down statements of intent. they pledged to to phase out coal and subsidies and fossil fuels and rich countries pledge an unknown amount of money to help poor countries. that is it.

isn't it time to rethink how the world crackles climate? government can't force cuts in co2 emissions, mandates don't work in these pledges are rarely met. why not rethink nuclear power? is the cleanest form of energy and new technology has made nuclear power much safer. why not use more natural gas which is a lot cleaner than oil are:there's plenty of it. that's how america successfully cut emissions more than any other industrial country, natural gas did it for us, why not for others? the greens won't listen. environmentalism is a religion and they must be pure. those gathered outside the glasgow conference would vigorously protest this failure and world leaders will keep on talking about the end of the world is not. what a shame. if you really feel the world is in danger, look for solutions that work. cop 26 is over. cop 27 is scheduled for next

november in egypt. they should call it blather in the desert. the third hour of varney just getting started. >> details and joins me, let's jump right in. do you think this conference was a failure? >> i will use the word i used on my show the other week. i called it a gigantic flatulent mess of incoherence and sanctimony. i agree with everything you said. if they really cared in a practical way about curbing carbon emissions, they would be boosting investment and research and prioritizing in their rhetoric, nuclear power, the most cost-effective and cleanest form of energy that we

have. they would be boosting with practical policy and natural gas, the natural gas point is so outrageous because if you go to the summit and see those who are gathered constantly demonizing countries like america which have reduced carbon emissions during the trump administration because of fracking and natural gas and venerate and praise countries like germany whose carbon emissions of gone up because if angela merkel's decisions to phase out nuclear power. it is completely incoherent, think about the timing of this conference, they go to this conference pledging, cutting reliable sources that we have at a time there's an energy crisis and in europe and america we are heading towards winter fuel crisis, they cut energy production so much.

and they are pumping oil. and and as pursued by the previous president, president biden could deal with the energy crisis and inflation crisis, ease the pain of rising gas prices, just like that. and the energy independence that we had. >> i will still that expression, gross, flatulent mess. i'm going to steal it. >> all yours. stuart: the calaveras unified school district in california voted to deify the vaccine mandates even though they know it could cost some funding. is the start of a revolt? >> good for them. i know that county is a

beautiful part of the state, they voted strongly to recall governor newsom saying it's not surprising they are resisting in a practical way these completely unjustified anti-science mandates because people who live there voted against them as part of the recall because the recall was so driven by these unjustified lockdowns. they are not just talking about how unfair they are but doing something about it which will help people in that community. i hope others will take notice and we will see if newsom is so serious that he will take money away from schools at a time when you have all the suffering that has gone the last couple years. it is a good challenge and will be copied elsewhere in the state. stuart: did we ever find out where gavin newsom went after his covid booster shot. never found out what happened to him. >> when you consider just the other day in the light of all

that, declaration of emergency for the third time. in san francisco yucking up with this oil billionaire wedding in san francisco, the rest of us have to follow his rules, kids have to wear masks was, the whole thing is so offensive. stuart: you are really exasperated. keep fighting and we will be watching you on the next revolution at 9:00 pm eastern on fox news. thank you very much, the exasperated steve hilton. back to the market you have a 100 point pain and an 85 point gain for the nasdaq composite.

luke boyd is with me. i just want to know, what are you buying today? >> i will go out on a limb and say something you don't hear often with this inflation scare, i am buying stocks. the stock market is the ultimate inflation hedge. you should be working aggressively at stocks. i am favoring small-cap stocks. if you look to history small the best performers in the high inflation environment and the reason, they have less layers in their business model to raise prices much quicker than larger corporations and one of the stocks we picked up his as i eat then. a few weeks ago cosmetic surgery, is above paris covid 19 levels. it is under the radar stock.

stuart: you go to stocks, and take action against inflation as it will at some point. you don't want to be in stocks. >> the short-term impact, when you raise interest rates and take away the risk-free rate and bonds arise the stock markets have a correction but when there is so much money in the economy, what we are talking about, a spending bill democrats are trying to push through and federal reserve remaining dovish, stocks a long-term inflation hedge, a 10% pull back, most likely it is a buying opportunity. stuart: what happens if the democrats are's a vast spending bill, you got another couple trillion dollars thrown out there. you still big on stocks? >> it makes inflation worse but

the stock market is the ultimate inflation hedge. the issue is the impact on the middle class. our system doesn't need any more money in the economy. it is ironic the democrats base their party ongoing after the rich and wealthy and making the rich out to be the bad guys, democrats are doing everything in their power to make the wealth gap bigger the benefits the wealthy. inflation, spending more money doesn't hurt the wealthy. it only hurts the little guy on main street. they can hedge themselves and inflation via the stock market and the other thing i find ironic is when gas prices rise, will probably continue higher, the party in charge usually gets destroyed come the next election. democrats are shooting themselves in the foot. stuart: there was a new study, 48% of americans believe bearded men are better with handling money.

20 seconds to analyze that. >> not the majority. >> 52%, clean-shaven people are better with money. >> i haven't been clean-shaven in five years. stuart: thanks, see you again soon. we need reporting on the movers of the day, starting with the glasses people. >> stocks up 6%, expenses tied to the direct listening recently, equips their growth in revenue but why are shares up, they have active customers and growing 23% from last year. now take a look at hewlett-packard down sharply, goldman downgraded them from neutral to sell, gave a $14 price target. it spending lasting into early next year.

>> old tech having a hard time recently. you can get prescription drugs delivered via drone and we will check that out. huge spending bill is poised to pass soon. senator bill haggerty, will tell us where things stand with the spending bill. that bill, the top issues of the midterm inflections, democrats will need solutions if they want to keep their job. refine has that report from capitol hill next. ♪♪ ♪♪ we got this. we got this. life is for living. we got this. let's partner for all of it.

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stuart: it is one year to the midterms and with inflation surging, some democrats in battleground states are keeping quiet on the issue. what is the latest on this? >> democrats are trying to avoid talking about one of the biggest issues on voters mind and that is inflation and the rising cost of everything from gas to groceries that republicans are going out of their way to talk about inflation headed into the midterms because they think it is a winning issue but an op-ed in the washington post is warning democrats up for reelection the taking inflation lightly, not talking about the issue will be a bad strategy, they should stop whining about inflation, such worries are imagined, they do no favors, they must head to the midterms

with a clear eyed view of the economy as it is, not as they wish it to be. the biden administration wishes they could get their bills back better bill through because they think that the answer to the inflation people are seeing every day. i reached out to democrats campaign committee, their spokesman chris taylor tells me house democrats passed a bipartisan infrastructure package, we are pushing to pass the bills back better framework. both our packages economists agree are anti-inflation investments. the vast majority of republicans and oppose both. a coalition to protect american workers launched a 6-figure digital ad by targeting house democrats in their home district, on the fence about supporting the bills back better package flipping against biden's big social and climate agenda and another conservative group targeting democratic

senators up for reelection with ad bys that are calling out inflation issues saying, quote, skyrocketing inflation, empty shelves, surging gas prices, it is not the time to raise taxes and those ads are targeting not only senator cortez master but rafael warknock and mark kelly, we scrub our foxbusiness team and bring room to see if anywhere on their twitter accounts they mention the word inflation. it did not come up once. a lot of americans talking about inflation on social media, t is key democrats are not. stuart: why am i not surprised. good research, great stuff. vice president harris says gigantic social spending bill is, quote, poised to pass soon despite pushback from moderate democrats. senator bill haggerty from tennessee joins me now. what is the state of play on

the vast gigantic social spending plan? >> vice president harris is being optimistic. this spending bill has come in at the wrong time for the democrats. talking about inflation, it is raging across america. they are passing a bill that will essentially put a end to the fossil fuel industry. that will further increase prices for gas at the pump. as americans look at thanksgiving going into christmas, a harder time putting food on the table finding what they want under the christmas tree. travel costs have gone up. this inflation will be murderous, to spend trillions of dollars more. whatever budget to adjust the total dollar figure downward you got to look at the programs inside the bill. these programs are more government dependence, less incentive to work, taxation on job creators will be devastating to the economy. the american public is too wise to buy into this. stuart: what are the chances of a delay? democrats may come to their

senses, joe manchin says we just delay it, there's a chance of that? >> i think so. the congressional budget office is supposed to score right now. it is a massive bill moving all over the place. it may take until thanksgiving or beyond. the same thing happened with the so-called infrastructure bill. they will miss it by a country mile. they are talking numbers below $2 trillion. i would not be surprised to see another massive miss like they did with the so-called infrastructure bill by missed by a quarter of $1 trillion. we will see what happens. of democrats, more moderate democrats want to see something paid for, paying close attention to this and it should be hard to get there. the other aspect of paying for this is looking at what is in the programs because government dependency programs once turned on our very difficult to turn off because they reduce the number of years by which they score it. that the budget gimmick. this will land on the folders of our children and

grandchildren. stuart: is there anything at all in this massive gigantic social spending bill that you support? >> it would be hard to go through and find something that would make me move in a direction that would support this bill no matter what particular aspect, it will be over also inherently inflationary, so moving toward socialism in these massive government dependency programs and devastating to job creators and companies that are trying to be more competitive, not less. i can't see anything moving that direction. stuart: are you hearing from voters about this? >> i am hearing from them every day. if you look at what happened, we have a massive crisis on the southern border, all precipitated by this administration. an embarrassment in afghanistan beyond any proportion. you've got americans looking at

the situation saying this administration is incompetent. we don't want to turn over more responsibly, more control to this administration with these dependency programs. if they look at what is having in the economy inflation is being felt every day. the energy crisis has gone through the roof, wait for a horde cold winter, the american public will feel this at every level and the biden and ministration policies caused every bit of this. stuart: long cold winter would be a disaster for this plan. thanks for being with us. astrazeneca is going to start pricing is vaccine to make it profitable. they were initially selling back to the cost to help combat the pandemic. they are going to raise prices, maybe make a profit. the market doesn't like that, it is down 6.5%. johnson & johnson splitting into two publicly traded companies. one will deal with pharmaceuticals and prescription drugs. the other will focus on consumer products like

band-aids, baby powder and that kind of thing. this is the second major conglomerate in a week to announce it is splitting up. general electric earlier, johnson & johnson today. here is the drone story. you can get your prescription drugs delivered by drone. where can i get them delivered by drone? >> the lake city, utah, the company they are parachuting drugs and will do so next year. the company is called zip line. they have experience, they deliver the covid vaccine in africa by drone and medical supplies during the depths of the pandemic and looking to target patients that live within 50 miles of healthcare distribution centers. they are waiting for federal approval, pretty cool. stuart: it would have to be in the rural area, not ready to parachute drugs to the build new york city. that is for sure. dollar general offering same-day delivery.

it starts today, 9000 locations across the us. most deliveries will arrive in under one hour. that's a developer to the delivery business and it is up 7.5% on that. miami coin generated $21 million since its launch three months ago. the mayor of miami says residents will get bitcoin dividends. we will explain it all next. ♪♪ when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary.

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stuart: you are looking at miami, 78 degrees, $21 million with their crypto currency, miami coin. how did they generate that money and was will they do with it? >> $21 million isn't much but over three months isn't bad.

this is miami's own token which is crowd source funding miami wanted to fund the city's project, helping the homeless or building new infrastructure, 70% of that $21 million comes from dividends and rewards from stacks and bitcoin holdings. if you don't understand anything i am saying, if you have bitcoin, capital gains, bitcoin prices went up 68,000, an all-time high this week, i don't think it paid a lot of interest by holding, won't even call it safety because that's the name of it but when you stake your bitcoin to get almost 10% interest back and that is a lot. you have that money back, did you get that? stuart: i don't get it. i'm not being silly. i just don't get it. the mayor of miami has been on

this program and i asked how to generate the money, we get revenue from printing miami coin so what? where is the revenue? >> people buy them. stuart: people are buying miami coin? >> that is correct. stuart: people are buying miami coin with dollars. is that true? >> correct. stuart: why would you buy miami coin? >> exactly right. some people have called this buyer beware because being crowd sourced money like this to buy into miami coin, in some ways you need new money to increase the value of the token. does that make sense? >> yes. >> how you get the $21 million, you use the money you take in from people buying miami coin i put it into interests yielding

wallace like you go to one of these crypto currency banks, they will give 10% to 12% for keeping bitcoin in the wallet with them. does that make sense? stuart: i got it, yes. genius. honestly i have been really struggling with this because i don't get it but there was a good explanation. now i understand and i never ask that question again. >> for a lot of people it is hard to wrap your head around crypto currency because it is like one plus one equals 2 but when you create value out of nowhere it baffles a lot of people. i get it. stuart: it baffles me. the markets. you get some movers, let's start with meta-or facebook. >> the guessing game is on on wall street in terms of who could split it into two, ge has split into three and what about the technology space? have you look at meta-and facebook? not a lot of news but if you think about it theoretically meta-or facebook, they could

split up, meta-verse etc. instagram and what's apps because when it comes to technology if you have 10 million job openings, record workers quitting on the positive side. on the flipside a 10 year low consumer sentiment may motivate the fed to not raise rates too quickly. shopify is flying today. stuart: disney, what have we got on them? >> disney announcing 12 new shows on disney plus including stuart: can all be from star wars, even you know that, a spinoff from star wars announced for disney plus which is exciting and the marvel blockbuster and jungle cruise at no extra cost and they need to build subscribership after over the summer the lowest

since disney plus launch two years ago. stuart: disney dropped below 160. it was 200 not that long ago. we will see you again shortly. michael lee is with us, the perennially bullish michael lee who is still bullish. a separate subject. give me the best way to head against inflation? >> to own financial assets. the best hedge is to own stocks. people can make the argument for real estate, gold, bitcoin, the stock market is the best hedge you will get right now. i think the number one reason you own stocks in the long run is hedge against inflation. because we've not seen much inflation the last decade or two that is coming home to roost a little bit but when you

look at the stock market not only do you have this inflation push but you also have earnings far above consensus in the biggest companies the drop major indices are hitting the cover off the ball. i don't think it is likely to change in the next 6 to 18 months. stuart: you are right about hitting the cover off the ball. we've gone straight up. my problem is using stocks as an inflation hedge, sooner or later the federal reserve has to get a handle on inflation and when it does that the market will probably sell off quite dramatically. that's my problem with putting money into stocks with inflation hedge. how the response of that? >> the fed is behind the 8 ball on inflation. they thought likely the situations like the port of la would be solved. they are not. the driving of inflation you can have tremendous fiscal stimulus, to medicine of

monetary stimulus but once these supply chains heal i would imagine prices will level off. i don't know we will see the supply glut i previously thought we would see but i see inflation leveling off at some point hopefully in the next 12 months. the key difference for stocks is the $4 trillion on the sidelines. if inflation stays at 6%, less next year and create fear of missing out reaction that should push stocks up combined with great earnings and expanding economy at a slower rate. stuart: one of these days you will tell me to sell. i don't expect it to come anytime soon but i'm waiting for that day. i will come to you when you are no longer bullish. great to have you on the show. the christmas tradition, santa

claus at the mall. watch this. >> you will shoot your eye out, kid. merry christmas. oh oh oh. stuart: you will shoot your eye out. that is what i heard when i asked for a bb gun when i was a kid. you want to plan your santa visit early this year. thank the labor shortage for that. there are no real solutions, a report from the white house coming up next. ♪♪

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stuart: you are looking at sixth avenue new york city. you can see the christmas decorations starting to go up. you might want to book a virtual visit with santa this year thanks to a labor shortage, santa as helpers won't be able to visit as many malls and department stores despite a 121% increase in demand for saint nick compared to 2019. virtual santa. thanks giving two weeks away. in the morning consult poll finds 61% of people will not travel for the holidays this year. that's an improvement from last year when 72%, some people blame rising gas prices for staying close to home, national

average is 342. president biden says fighting the energy crisis and rising inflation are his top priorities. the administration is sending mixed signals what they are doing about it. edward lawrence at the white house. what is being done? >> the administration vocal about the fact they asked opec to produce more oil. every administration official mentioned the ftc has been asked to investigate price gouging, it is unclear how that will make an immediate impact. the cpi inflation is up 30% year over year. when you break that down, up 59% coming into the winter, vice president kamala harris trying to empathize with americans that are seeing more with inflation. >> we know from the history of this issue when you see these

prices go up it has direct impact on the quality-of-life for all people in the country. it is a priority. >> republicans say there's an easy fix to this, just reverse the policies that constrain oil production, restart the keystone pipeline allowing new leases for drilling on federal land. >> we are more dependent on foreign oil leaving the secretary of state with less cards in their hands. we are empowering russia and giving other people more leverage so it's more than that. it is national security as well. >> the president will be holding his third cabinet meeting of his administration on the agenda, the bipartisan infrastructure bill and how to roll that out, we will see if inflation comes up the meeting.

stuart: we've got a rally on our hands, that was up 160 and there's a predominance of green among the dow 30. microsoft is up sharply today adding 30 points to the dow industrials, the nasdaq up 150 points. i call this a friday afternoon rally. don't go anywhere. friday feedback is next. you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates

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lively music for friday feedback. come on in and let's get started with this extravaganza. first question or whatever from janelle. what do each of you do it during all the commercial breaks? what do you talk about what do you snack or eat lunch? i will start this one. i like to read the upcoming script, check stock prices on

my phone and what i asked the guests in the next block. i'm usually all about the next block. what about you? lauren: is that is all you do? stuart: ocasio nelly i will chat with you. >> everything stuart laid out, all the professional things we are supposed to do, we savings we are not supposed to say and they laugh and aqs, then do the real thing. stuart: that is true. you are on this. we usually have fun during commercial breaks. are you with us? you were a genius earlier. what we talk about during commercial breaks? >> the news flow of the day, usually what we do for the weekends. stuart: you ask me and i don't usually tell you. i've got to get this in.

from page. you have had a brilliant career, please tell us about your time in china, what motivated you and what are your take aways and are you a fan of chinese cuisine? i was in hong kong for two years where i got my professional starting radio hong kong. i utterly love to it. i fell in love with hong kong. i'm still in the with hong kong but i can't go there because the communist party has taken it over but that is "my take" away. it was free market capitalism. a bastian of freedom in asia and i adored it to this day. you second that? >> absolutely. who doesn't love flat taxes, 0 capital gains and free markets. tiffany's is not bad. i was quite impressed. your chinese. cantonese. stuart: we are not going to try that.

this is from kristin. coming to you. have the nasdaq and the dow become mean markets? that is yours. >> what does a meme market mean? the dow has only 30 component. it is industrial based, the nasdaq is more -- tech stocks are meme stock so it is a more of a meme market. stuart: okay. that's a diplomatic answer. >> what does it mean? what is a meme market? i don't know how to answer that question. stuart: we will that you off on that. ray right this. do you recommend any favored business or financial books? you first. lauren: don't know if it is a financial book but a self-help book will help you in business, an old one, how to win friends

and influence people. it gives you the skill set that helps you succeed in business and life. stuart: how about you? lauren: i like biographies and autobiographies and my favorite is nike. i like hearing about stories in business and how they overcome the challenges. stuart: okay. i don't read business books. that's not on my reading list. i like to read history or novels. business books i find a tad dry. i read the wall street journal cover to cover every day, nothing dry about that especially the editorial section. dave wants to know when you are in england, a young man riding your motorcycle do you have long hair? i did. i did. i did. there is only one picture of me with long hair and you will never see it, ever. >> were you wearing bellbottoms

or tight jeans? stuart: bellbottoms, late 60s, early 70s. you had a black sweater just like the beatles. a uniform of the day, bellbottoms and long hair. that is the way it was a, you don't know what you're missing, how wonderful the 60s really were and you will never find out. this is from brian. as a kid when i lived in new zealand i used to watch your show on the buses starring registered varney. any relation? no relation. that is him, that was him, the star of the show. in london right after i left college i was a - i was on the buses and everyone called me read because he was the star on tv at the time.

>> you drove a bus and you were a waiter, you didn't drive a bus. stuart: i was a bus conductor. i took the fair. i took the money and issued the tickets. one crazy job. gary rights this. of congress passes the multi-trillion dollar bill, wouldn't that encourage more americans to use crypto currency to maintain privacy? if congress doesn't had crypto regulation. lauren: >> there is dispute over the language when it comes to crypto currency in the infrastructure bill itself but crypto currency in the early stages they call it web 3 around the cusp of a technological revolution. they take direct payments. isn't that great? stuart: the irs would love to tax bitcoin profits and that is a fact. time is up for friday feedback but we now have a friday trivia question. which country has the most

islands in the world? the answer when we come back. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones

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as a dj, i know all about customization. that's why i love liberty mutual. they customize my car insurance, so i only pay for what i need. how about a throwback? ♪ liberty, liberty, liberty, liberty ♪ only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ ♪ stuart: repeat the question. which country has the most islands in the world? take a guess, susan. >> [inaudible] stuart: indonesia? that's your guess? lauren? >> i feel like that's not the answer, because it's too obvious. stuart: i would guess indonesia. that was the first thing i thought of, indeed. let's reveal, what is the

answer? >> wow. stuart: yeah, i'm surprised. sweden has 267,5703 islands which make up about 3% of that country's land area. only about 1,000 of them are inhabited. so now you to know. you learn some very interesting stuff on this program, don't you? those trivia questions really are good. susan, lauren are, have a great weekend. my time's up. neil, it's yours. neil: you know, sometimes, stuart, there's useful information and information that really can't advance the ball, so to speak. stuart: true. neil: i'm not saying that's an example of it, but i'm glad i know this now. it's something i can't get out of hi held. [laughter] have a wonderful weekend, my friend, good seeing you. okay. [laughter] we've got a lot going on on the corner of wall and broad. any of these inflationary concerns and, believe me, they are still out there, the president holding a meeting with his cabinet today.