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tv   Varney Company  FOX Business  March 22, 2022 9:00am-12:00pm EDT

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ukrainian people i have a strong connection with them, so it is beautiful to see , the music hopefully something to bring people together in this hard, hard time. maria: yeah, and our prayers and love are with the ukrainian people, the italian prime minister called them heroic. i agree. ryan payne, joe concha, great to see you have a great day, everybody "varney" & company begins right now. stu take it away. stuart: good morning, maria, good morning, everyone. here is what's happening. ukraine is being systematically destroyed. civilians targeted, 10 million have left their homes, zelenskyy again pleads for help. interest rates rising rapidly. food price inflation about to really take off. that's how we start the show as our war time president prepares to meet our allies. start off with this. look at it. new video showing the aftermath of russia tacks on civilian targets, the town of mariupol has been reduced to rubble. there is a strict curfew in kyiv
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residents ordered to shelter in place, but ukraine is fighting back. they have reportedly taking mark ev, a suburb of the capitol, there are workers in belarus have gone strike refusing to carry russian supplies to the front. zelenskyy addressed the italian parliament this morning, he addresses the japanese parliament later. he's asking for any and all help that's the war. here at home, the financial markets, the headline is the sharp rise in interest rates faced with red hot inflation the fed may hike rates sharply and soon. the yield on the 10 year treasury moving all the way up to 2.348%, watch out, everybody. mortgage rates will be going up some more. the price of oil holding at what i'd call an elevated level, actually it's moving up to an elevated level $112 a barrel as of right now. gasoline seems to have stopped its slight descent the average on regular this morning virtual ly unchanged at $4.24 per
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gallon, however, stocks are moving up a little, perhaps the market can hold its own, even when rates rise. the dow slated to go up 170 points at the open, modest gain for the s&p and the nasdaq and just look at bitcoin. $43,000 this morning, changed since i read the script, 43, 100 is your bitcoin quote right now. we'll of course have more on the war and the markets but first, i want you to take a look at this. we're going to show you a seven-year-old ukrainian girl who became famous serenading people in a bomb shelter. she's now in poland wowing her audience with ukraine's national anthem. take a listen, please. ♪ ♪ stuart: you'll see more of that in their show it's tuesday, march 22, 2022, "varney" & company is about to begin.
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it is day 27 of russia's invasion, and now president biden's warning of possible cyberattacks here at home. good morning, to you, lauren. how bad might it be? lauren: well, biden says the magnitude will be, and i quote, "fairly consequential" and ceo's have a patriotic obligation to guard against cyberattacks. it's likely that the hack comes through a third party and it impacts the supply chain. so that's that, because president putin is growing more aggressive on all fronts. look at these images. ukrainian generals say they expect more in discriminate bombing, they've seen attacks like on that factory in mariupol non-stop. why, to break the will of the ukrainian people which has not happened. tens of thousands are trapped in mariupol, getting humanitarian supplies in, increasingly difficult and in kherson which is held by russia we'll show you
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video. peaceful protesters there being squashed by russian troops. president biden warns that putin will resort to chemical or biological weapons. he's already planted a false flag to do that and you know what? in president biden's meeting with nato this week, he might want to layout what happens if such warfare is used, because if you're using such a weapon, that is an attack on all of europe, is it not? so layout clearly, if you do this , mr. putin, we see that as attacking all of us and nato might get involved. just a thought. stuart: all right, i want you to take a look at this , everyone. this is a tweet from president biden. in that tweet as you can see at the top there our economic strategy has worked and it's still working. that's the economy side of things. matt schlapp is with us this morning. matt, doesn't sound like president biden's changing course at all in any direction. >> no, you know, when this man
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encounters failure, he just keeps going and you can't really blame him because he doesn't have by and large the majority of the national news media that has any interest in reporting on him fairly, and hunter's laptop situation is just one aspect of that. the national news media's all-in for a successful trump presidency and you know, stuart, to me, what the next presidential election in 2024 is going to be very much about is a failed president like we have with jimmy carter in 1980 and this question about are the american people, are you better off under biden administration than you were under trump? i think it's a pretty easy answer. stuart: there's a comparison between 1979 and now, a very strong comparison actually but listen to this. last night on fox, senator lindsey graham suggested that mr. biden was scared of provoking putin. roll tape, please. >> putin owns biden. biden is afraid of escalation. he's afraid of making putin mad. as the troops were building up
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around the ukraine, republicans and democrats said put sanctions on putin for the provocation of a military buildup, don't wait until the invasion. the one thing i've learned with bullies like putin, if you aren't clear then they will assume you're weak. stuart: matt what do you make of that? >> well the interesting part is the beginning part of that is that putin owns biden and we know as the scandal unfolds that the biden family has benefited from business dealings with ukraine and russia and china, and that makes it awfully rough now, you know, president trump said at cpac that he was the only 21st century american president where putin didn't reach out and have a land grab, and that was because he was strong and people feared the fact that he would use the military if he was provoked and under biden, it is a very sad thing that we have a president that is not feared by these tyrants. stuart: do you think that president biden is restrained on ukraine and restrained on china
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because of his son hunter and what hunter was doing in ukraine and china? >> i just think he's compromis ed and i think that these videos are now coming out with joe biden getting so hot under the collar when he was pressed on these questions and his policy doesn't make a lot of sense. why not project strength against putin? if you think putin is such a bad guy, why did you wait so long to show strength, to even use sanctions which are imperfect. it has been strange to watch and i think the american people are looking at this and saying i'm getting hurt in the pocketbook by his economic policies. i don't feel great about the future, and now, we have this question about can america be picked on by the schoolyard bully? i don't think we like that. we like it when america is strong and when america projects peace. stuart: we don't want war, but we want peace through strength. got it. matt schlapp. >> that's right. stuart: we'll see you again real soon, matt, thanks for being
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here. europeans are considering cutting themselves off from russian oil. that's why oil prices have been rising. we're at $112 a barrel right now , give me more. lauren: it calls for $200 oil and that would happen if the eu does join the u.s. in cutting off russian oil. a headline from germany chancellor schultz guess where he is today, in berlin, at the tesla electric car at that new g igafactory. he says we want to be independent from russian crude. okay, how so? is that a push to electric vehicles like tesla, or is that cutting off russian oil which supplies one-third of germany. then you have hungary's prime minister, he's running for re-election. he's already said he's not supporting banning russian oil, because that hurts his people economically. so it's going to be very difficult to get all 27 eu member states to get on board with this. stuart: yup. lauren: but if the atrocities increase in ukraine, maybe they will. this is something that the president is going to be speaking about on thursday when he meets with his counterparts. stuart: i see oil up and nat gas
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up about five bucks there. let's have a look at the futures market this is how we open up this morning green on the board today. mike lee joins us. michael, powell says the fed needs to raise rates more aggressively. okay. can stocks rally much when rates are rising sharply, as they are. >> well, stuart, it all depends on how effective these rate raises are and so my concern is we've already seen a tremendous amount of tightening in liquidity and financial conditions. you've seen credit spreads move from september, move from 2% to 3% on double b. that's the cost for corporations to borrow was up 30 to 50% in certain circumstances. you seen the two year u.s. treasury go from 20 basis points in september to just under 2.2%, so almost 2% in a little over six months, obviously the 10 year treasury has moved out and the chicago national financial conditions index has been cut in half, so
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if these measures that the fed has taken by simply talking about rate cuts dramatically slow the increase in inflation, so if we continue to grow inflation at eight-tenths of a percent or 1% month-over-month, the fed has to get a lot more aggressive than they already have been and when you suck this liquidity out of the market it's going to create what we call demand destruction. you have two ways of attacking inflation. you can either increase supply and you can reduce demand simultaneously. with russian sanctions and the war on fossil fuels this administration is doing very little to address the supply side so all they can do is crush the demand side which is why many are calling for a recession. stuart: yeah, and you are no longer a super bowl. that's a fact. mike lee, thanks for being with us constantly. we appreciate it. we need market coverage thanks, mike. tornadoes, the weather. tornadoes ripped through parts of texas and oklahoma yesterday.
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thousands are without power. what do we have? lauren: 22 confirm confirmed reports of tornadoes, texas and oklahoma communities this morning picking up the pieces of destruction. more than 52000 in texas are without power. a gym at a school torn to pieces , and guess what? the storm system is not over, it moves east today toward louisiana and mississippi after sending at least 10 people to the hospital overnight. stuart: you know, i thought that was a video from ukraine for a moment. i don't mean to be funny about this but that was extraordinary. lauren: i at lviv tough news. stuart: check futures one more time, please we see green left-hand side of the screen. dow is up about 160. former heavyweight boxing champ turns defender klitchko, he's got a warning for russia, roll tape. >> this war that happened in ukraine, is going to cost russia a lot. it's like cancer that got into the russia and is going to eat from inside out. stuart: what will happen to his own city that is kyiv.
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the administration is sending decades-old soviet air defense systems to ukraine, is that the kind of protection they need i'll ask retired four star army general david perk ins after this. ♪ ♪ it's electric... made extraordinary.
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stuart: you ukrainians say they have retaken a suburb of kyiv. mike tobin is with us. how did the ukrainians retake that town, mike? >> well, stuart it was after a fierce battle and little by little they beat the ukrainians back, this town is called makari v, due west of a town of irpin where you have seen so much of the evacuation
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videos where the battle has indeed been fierce as well and due west of the capitol city of kyiv. it's just a little suburb but it's a small victory but it speaks volumes to the inability of the russian forces to move their troops south and take up positions to the west of the city, to the south of the city, and circle the capitol city ultimately for that final push. what the russians have succeeded in doing to the far south of the country is turn mariupol into a wasteland. they have been pounding that city now for two weeks. buses hauling civilians to safety were fired on yesterday we know from a local politician that a child was shot, two children in fact were shot while they were trying to get out of town so now the evacuation buses are in the next town over the town of berdant, which is 50 mil the estimates of civilian casualties by the u.n. is now 900, but the u.n. even says that that is going to be a dramatically low number, they can't get good numbers because
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there's just too much blood shed and too much chaos. >> russia is now committing a real act of genocide against the ukrainian city of mariupol. for three weeks, 400,000 citizens have been surrounded. without food, water, light, almost without connections. under the bombing, artillery and rocket fire. >> meantime the u.s. embassy in kyiv has just tweeted saying according to the ukrainian foreign ministry russian forces have illegally removed 2,389 ukrainian children from the dontesk and luhansk regions and these are the two russian- backed sepratist region because russia said they wanted to protect those people, but the u.s. embassy says this is not assistance, this is kidnap ping, so they are pulling
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the kids out of these regions and taking them back to russia, the u.s. again calls that kidnap ping. stuart? stuart: i think it's kidnapping too, all right, mike tobin thanks very much indeed. yesterday i spoke with president trump. i asked him how he would handle russia's invasion, if he were still president. roll tape. >> we say oh, he's a nuclear power but we're a greater nuclear power. we have the greatest submarines in the world, most powerful machines ever built, molts powerful and they got built under me, most powerful machines ever built and nobody knows where they are, and you should say look, if you mention that word one more time, we're going to send them over and we'll be coasting back and forth up and down your coast. stuart: all right general david perkins is a retired four star army general joins me now. trump is proposing seriously, serious escalation. what do you say to that? >> well, i mean, the good news is our nuclear submarines are
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always on patrol and russia's always in range and putin knows that, so that's always a lever out there. i will tell you though, as this goes on and there's a number of discussions about things, you know, this weapon system, that weapon system, what we have to understand is war is not a competition of things but a competition of capability, and a capability is a combination of a thing, maintenance, training, logistics, leadership, and when we take a look at who has the advantage and a lot of those it's really the ukrainians if it was just a competition of things, the russians would have been in kyiv weeks ago because they have many more things but they don't have good leadership. they can't supply them logistic ally and they can't synchronize their air and ground operations, so to look at the total package of capability. stuart: so general, what military capability do you think we should deliver to the ukrainians now? >> so what they need is
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something that they can put into effect and use immediately, because they're in the middle of it right now, and so a weapon system that they can maintain, that they know how to use beings and that they can integrate. that's why some of the , we would call them older weapon systems but they are very familiar with them. they could maintain them, they have used them before and they can put them into practice tomorrow, are very good things for them to be receiving, because it's not just a thing, they now have a capability. that's why they have been so effective with the javelins and the stingers because they are very low overhead. doesn't require a lot of training, very easy to move around and they put them into operation the day they get them. stuart: okay, so far, really advanced military weapons have not been put into the hands of the ukrainians, at least to my knowledge. some people suggest that president biden is afraid of provoking putin by delivering more advanced weapons. what do you say to that? >> well, at this point, i think he's completely provoked enough to invade ukraine so i think the
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issue now is how do you get a capability that has immediate effect on the russians , and you can see the ukrainians are very good at using what they have. in fact the reporter just talked about how they took back that small suburb of kyiv. that's a major operation in a highly urban area which is the most difficult fighting there is. the only thing more difficult than taking the urban area is holding on to it, and it looks like the russians are having a difficult time taking it and when they take it, they are aren't able to hold on to it so good news for the ukrainians. stuart: it is indeed, thanks for being with us today we do appreciate it sir hope to see you a lot in the future. >> have a great day. stuart: yes, sir. russia has found meta, facebook, guilty of "extremist activity." lauren: well it lichens facebook and instagram to the taliban but here is what happened so putin is mad that facebook allows ukrainians to say hateful things about him and russia. so he's banned the platform and
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it's combined nearly 200 million russian users from connecting to it. they are allowed to use meta's what's app because russia sees that as a means of communication , not a source of information. that's the difference in putin's eyes but look. this is a charge of extremist activity. it sends a warning shot to alphabet because youtube is the only western platform remaining in russia right now. stuart: can russians get anything they want off youtube, just like i can? lauren: probably has some sort of control or restrictions on it, but yeah, there's a filter but right now youtube still stands, for now. stuart: for now, all right thanks lauren. quick check of the futures. you're seeing some green, the opening bell is next.
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stuart: let's see. big tech left-hand side of the screen, all of them ever so slightly higher today. i've got questions about this , and questions too ray wong, our big tech specialist whose actually joining me right now in new york city. here he is, the man himself, okay. now, leave that up on the left-hand side and let me ask this question to ray. ray, do you see , i'm thinking
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about microsoft at 349 that was the high. i see facebook meta at 384 was the high and let's see now we've got amazon at 37.73 those were the highs. do you see those three big tech companies going back to their highs anytime soon? >> not in the next 12 months we've got invasion, infection, inventory, interest rates, i mean, a lot of factors are coming in play so we've gotta while to go before big tech comes back. stuart: they are just going to rumble around at these low level s without any significant upside rally? >> well if you're a long term investment this is probably the best time to jump in but we probably won't see it back near the highs we'll see it close to maybe 30% below the highs. stuart: okay, i've got apple at 165. their high was 182. do you think they are going back to that high? >> there are a few exceptions apple is one of them, alphabet is one, google is one of them, adobe, salesforce, these are companies that weather the storm much better than others. stuart: i thought apple might
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have a china problem. >> it's interesting they figured out china and have been able to manage between being in china, manufacturing china, working with china, and being able to work across the globe. stuart: so 165, 150 or 165 is kind of a low, good time to jump in? >> i think they still get back to their $3 trillion market cap opportunity. stuart: that be $182.65.6.6.6r.6 soingsoiksosohat.so t y y c g the tre byrere thehe r. yea y od sff sffnd o end e ehiars laststne, onenedinedinedine wha wt t h wigasigas g toingo b b b bssst a gh7 ghowghgh eik it? i thmee rstand andolselsying l ootfor iorn aon autou ofdd pitos aos aososotososf o itop f ndi n nrteafeit alele andvida ad t prisrior e re orefea yes. st: that'ha arettytt stron s af odrmafive the,, r..go ra indeng, thank t yy yuch e lileileinging
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about 25 seconds. the market will probably open higher, dow is up about 160, s&p , nasdaq also on the upside. to me, the main financial headline this morning is interest rates. the yield on the 10 year treasury has gone all the way up to 2.35%. >> [opening bell ringing] stuart: the market is still rallying despite that but i wonder what investors will make of 2.35% on the 10 year treasury we'll find out here we go. it is 9:30 eastern time. the market has opened and the dow is up a mere 30 points but look at the level, 34, 700 that's a gain of about a half percent now it's up 180, half percent higher for the dow industrials left-hand side of the screen, all the dow 30 stock s almost all of them in the green. so modest rally. the s&p 500 is up one-third of 1 %, the nasdaq composite is also on the upside to the tune of just a small amount, .17%. all right, back to big tech. they've now opened, here are the opening prices, you can see there are a couple moved
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lower, microsoft below 300 bucks a share, apple is down a bit and so too is meta platforms. 210 price there. all right now let's get to what i think is the headline of the day, and there you have it. interest rates going up, the yield on the 10 year treasury 2.37% now. susan is back. >> hi, good morning. stuart: vigorously that is indeed the highlight of the day. >> i would say so so you're looking at the highest since mah some surprisingly hawkish comments from chairman jay powell, yesterday i was surprised too saying he's not afraid to go half a percent in interest rates at monthly fed meetings, if necessary, to bring down inflation. kind of reminds me of mario drag e, back in 2010 during the european debt crisis, but remember when he said i'll do whatever it takes? that's pretty much what chairman powell is saying so you heard that he's getting a bit more aggressive and even by the way goldman sachs is now agreeing with him, because of those
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comments. goldman sachs now predicting that the fed will raise interest rates 50 basis points in may and then june and then four more 25 basis point hikes for the rest of this year so think of that at the end of the year we're looking at 1.9% for interest rates. stuart: and yet the market has rallied in the face of that news coming right at you, higher interest rates. the markets rallying. >> wouldn't you say there's good news to takeaway from this is that at least yield curve isn't as flat as it was 24 hours ago, so when people talk about yield curve in version, i know it's very technical and flattening but that means, you know, people are afraid of recession, so if yields go up and there's, you know, less flattening, you're smiling at me while i'm discussing this , this is important for the markets i know it's boring but it's important we might even be able to avoid a recession. stuart: three years ago if you would have said yield curve you would have gotten the buzzer. we've softened a lot. >> but don't you think in the last six months the fed has become a much more important story all of a sudden? stuart: i agree. >> you can now tolerate me
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saying yield curve inversion. stuart: any time you offer me a rhetorical question i'll agree. let's go to tesla i find this very interesting the stock is at 927, the berlin gigafactory open and running and i think musk is over there. >> personally delivering the first 30 model y's that roll off the production line, and musk tweeting he's excited to hand over the first production cars made by giga berlin brandon berg, and this is after he officially cuts open the red tape to open up the giga berlin factory, it's late, it was expected to open last year and the government took its time for the approvals, wedbush dan i ves says the berlin opening is one of the biggest strategic endeavors for tesla over the past decade, 10 years. i went through china and shanghai in there as well so most of berlin could ramp up and turn out 500,000 cars a year, 500,000. stuart: brilliant. >> so far, you know, in order to export to europe, china's been making those cars so now
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that berlin is open can you imagine the amount of sales they could increase to? they already produce what, 900,000 last year surprising wall street they could go 50% more this year. stuart: i just think it's impressive that musk can compete in germany against german cars. >> oh, good point. stuart: i personally think. >> [laughter] okay, be careful there. stuart: i haven't had un german tour in many years. alibaba look at that, another surge. now, if the chinese government easing up on them or something? >> no i would say it's all about alibaba spending their own cash buying back $25 billion in stock, and that means they are taking out supply in the market so maybe there's more demand so alibaba buying back 25 billion you do the math it's roughly what 8% of the market cap right now. that's fairly significant i would say. stuart: i'd say very. >> but look the stock is down 56% the past year so it's cheap in the management's view and good thing about this upheaval from ukraine and russia is that
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maybe china might be easing up when the comes to that tech clamp-down which helped stocks like alibaba. stuart: that's fascinating let's move on and get here to okta. they described on the prompter here as identity management provider used by thousands of companies, this company included all right, the story here is a data breach isn't it? >> yeah, 150,000 customers including, stuary varney, who now uses it as well so they say this data breach is not new and the screen shots posted by the hacking group is actually from an attack in january, so remember back in january, okta detected an attempt to compromise a third party customer support, but they found no evidence of an ongoing attack, so this is something in the past in the rear view mirror shouldn't be affecting the stock but it is because obviously it's a volatile environment and any negative headlines depresses stock prices. stuart: okay but the days are long gone when we thought that our personal information was secret. >> well it's hard in this
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environment. stuart: what have we got here? nike on the upside, the swoosh up 5% nice gain the story please >> they are delaying their outlook so no guidance for the full year until they see how the first three months of 2022 has performed, and that's of course owing to volatility and unforeseen events like ukraine, but i would say the holiday shopping period was pretty strong. they made more money than anticipated, sales were in line, north america was strong up 9%, china was down 5% because nike is still trying to come back from that cotton controversy over there. digital sales i thought were really impressive up by a fifth and they say that they will be selling more of their own goods online themselves and that's hurting by the way if you look at the countertrade of that it's hurting foot locker and the like stuart: we'll put it up on the screen one more time and susan will help me read it the dow winners that is the leading -- >> nike. stuart: the 30 dow stocks i see nike at the top anything else? >> jpmorgan which we know the banks are coming back today
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because higher yields means they make more off their loans. stuart: s&p 500 winners please? put them on the screen. headed by nike whose getting boring. how about the nasdaq composite? show me the winners on the nasdaq? >> align technology that's interesting. and tesla is up there, paypal. i think tesla probably tech stock of the day. stuart: i find that fascinating. overall dow industrials up 200 points, that's .60%, again, the yield on the 10 year treasury one more time, please, we're at 2.36% now, the price of gold has not bon been doing much recently down $5 at 19.29. bitcoin a few minutes ago was at 43,000 so you got a rally in bitcoin today. >> that's interesting, because you know, i was looking at a bloomberg survey that says bitcoin is probably the least- liked hedge against volatility and inflation right now. stuart: 43 grand at the moment, we had oil on the screen momentarily. it's down to 110 right now,
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that's still an elevated level. nat gas is above five bucks per million british thermal units and the average price for a gallon of gasoline down a tiny fraction still at 4.24 andre won g still with me sitting next to me in new york he's from california he's going to pay 5.86 for a gallon of regular. >> 7:20 where i'm at. >> wow. stuart: for regular? >> unleaded but yeah, super unleaded. >> silicon valley. stuart: you gotta move, man. the prize for the most realistic political television show goes to, roll tape. >> i'm new on a regular street in real america with real trees and real cars. >> we do have real cars. >> wait for it. >> i'm not sure what a fake car be exactly. >> i should be president or something. stuart: [laughter] no. it's not hbo. we'll tell which show it
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actually is coming up that's a promise. co-ed you indication be the down fall of democrats this november? that's what one new york times op-ed claims. guaranteed that one, how real is the threat of stagflation? i think it's on the way, but i will ask larry kudlow for his opinion, larry is next.
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stuart: registering frustrated voters at the pump, that's what i think is a pretty good strategy for republicans and they're doing it. madison alworth is at one of those gas stations, good morning , madison has the rnc pulled in any new voter s there? reporter: good morning, stuart. this group has been here since the weekend and so far, they have registered over 30 new voters, and they are out here
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again today, i've already seen them register at least one this morning since i've been out there. we're seeing high price, people are frustrated and republicans are hoping that they take those frustration to the polls during the next election cycle. after gas prices shot up, we have seen them fall from their highs, but current prices are still heavily-inflated. in order to combat this energy crisis the international energy agency is publishing its 10- point plan to cut oil demand. it includes things like reducing the speed limit on the highway, promoting no car sunday, and eliminating work travel. this all as we see off the heels of a bloomberg op-ed that was posed to americans making less than 300k. they suggested replacing meat in your diet with lentils to combat food inflation. critics blast all these solutions as out of touch and they are looking to channel the republicans frustration into voters here on long island where they have setup this voter registration drive they are trying to get new voters in, it's happening here, arizona,
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north carolina, with plans to expand out more. the people we've spoken to they are telling us it's absolutely driving their decision in the voting booth. >> democrats are in charge, 4.27 is what you see. >> the gas goes up, don't make sense, it's really hard. reporter: channeling that frustration into potential new voters this operation here is only planning on expanding to more states, stuart? stuart: all right, madison we hear you thanks very much indeed fed chair jay powell signaling that the federal reserve could raise interest rates even faster larry kudlow is with us. the ratings king of this network , by the way, it's great to have you on show, larry we're competing in some respects , but cooperating in others. now, let me get on with this i'm sorry.
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i'm digressing. stagflation. i see stagflation down the road, slowing economy, rising inflation. what say you? >> larry: i think you're right, in some sense we are already in stagflation because the inflation rate is running faster than the real gdp output rate so for example, in the first quarter of 2022, stu, we won't get that for another four or five weeks, that number , but in the march quarter , you're probably going to have real gdp at about 2%, maybe 3% and you're probably going to have an inflation rate that is six, seven, 8% in that range, okay? the deflation will be about 7%, so look, that's it. that's the definition of stagflation and all this stuff about powell, you know, blah blah blah, he's going to raise rates more or maybe but he won't. you know, the insanity here is
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his balance sheet, his portfolio , his bond-buying continues. i mean, they're buying mortgage backed bonds, housing prices are up 20%, they are buying mortgage backed bonds in january, february, march, april, and may? i mean, really? is that kind of tough inflation fighting stuff? i mean, come on. stuart: but if he did do some really tough inflation fighting stuff, quit printing money, raise rates 50 basis points, if he did that, you'd hasten the arrival of stagflation. it would come much quicker wouldn't it? >> larry: no, no, if he had a regime change approach, they should have done one percentage point in march in my judgment. 50 sure but i would have done one percentage point and do another percentage point in may. listen to jim bullard of the st. louis fed. he's the smartest guy they got.
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chris waller, whose on the federal reserve board, is leaning towards shock. here is, the problem, stu, is prices are rising everywhere. it's not just energy and gasoline. you know this. if you took energy out of the c pi, you'd still be up 6.5% inflation. the feds target is two, 6.5 be the highest in four decades so my point is, inflation expectations are now embedding in the entire economy. stuart: it's true. >> larry: food, services, commodities, cars, you name it, recreation, tickets to the new york rangers game because they are going to win the stanley cup this year. everything is rising, prices everywhere is rising. i'll bet you even lentil prices are rising although that's a very gaseous solution. stuart: that was a good one, you've been reading bloomberg haven't you? i knew it. hey, larry i'm sorry i'm out of time.
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i hate to cut a man like you off like this but we'll get more of larry kudlow at 4:00 this afternoon on this network. see you larry, thanks a lot. >> larry: thanks, stu. stuart: good food, good life. that's nestle's slogan. you know them, they make cheerio s, all kinds of stuff, now ukraine's zelenskyy says they are also making a profit in russia, and he's calling them out. how much of ukraine is in the dark, without power? i'll ask the man who runs ukraine's electricity supply, after this.
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stuart: russia is attacking civilian sites in ukraine, and it is day 27 of the invasion. now, detech, the name of the company, is the largest electricity company in ukraine and the ceo is maxine temeshenko , who joins me now. maxine, thanks very much for being on the show today. let me ask you this. i believe the four largest cities in ukraine are kyiv, kharkiv, and dontesk. do they all have electricity,
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what's the status? >> stuart, thank you for inviting us for this conversation. basically, all major cities of ukraine, i should mention that big cities more than 1,000 comes from electricity supply and more than 1.5 million people in ukraine without supply at least for several days already. stuart: i'm just trying to think of reconstructing ukraine, and obviously, it's a gigantic task. are the electricity generating machines or whatever you call them, are they still intact, most of them? >> definitely, despite all of these attacks, and russian invasion, and capturing two nuclear stations and destroying one coal power station, we managed to keep our energy system stable, so the major issue now is to restore and
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supply those affected by military operations, and this is what we are doing 24/7. our emergency crews, they restored supply and then this is 24 hours for our people, but in general, we manage to keep the system stable, moreover, we manage to basically connect ukrainian to the europeans over the last two weeks. stuart: it sounds to me like you're in fact winning, would you say that? >> definitely, and we have not any doubt that we will win this war. not only military but also by providing electricity and heat to our people, by restoring our energy system and by keeping it stable, and working together with our european partners. stuart: thank you very much for being with us this morning. we like to hear positive reports , and i think you just gave one. thank you very much, sir. we appreciate it and we'll see
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you soon. thank you very much. good stuff. the markets, we're 25 minutes in and the dow is up nearly 300 points that's a star indicator this morning, nasdaq is up 90, s&p up 27. still ahead today on this program, lademia klitschko, brian kilmeade, todd piro and florida congressman brian mast. the 10:00 hour of "varney" & company is next. meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, ..
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stuart: good morning. it is 10:00 eastern. look at the left-hand side of your screen. this is a rally, the dow is up 260. the nasdaq is up 114 points even though the yield on the 10 year treasury has gone to this, 2.37%. normally when that rate goes up big tech and the nasdaq go down. both are up. the price of oil up to $110 a
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barrel. that an elevated level. now this. stagflation is not a happy subject. there are times when the economy gets in a mess, slow growth or no growth with rising prices. we haven't felt it in a generation but it looks like it is headed our way again. you will hear a lot about this. for the past year inflation has picked up steam. now it is running hot at a 10% clip and it gets worse. food bryce inflation will accelerate. couple that with gas prices and delicacy bills and you have an inflation problem everybody can see and feel. it is the job of the federal reserve to fix that. they do that by raising interest rates. the economy will slow. that's the stag part of stagflation. stagnant economy, rising prices. think of the implications of this. the standard of living
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especially for low income people goes down. just about everybody loses ground. we saw it in the 70s and 80s, 10% inflation, slowing economy, rate hikes and recession. and angry electorate fired president carter. this time we are feeling stagflation in our wallets. i think the politicians will feel it at the ballot box and soon. second hour of varney just getting started. look who is here. the man with the fancy jacket. that is a cow jacket for first time viewers. inflation isn't dead. i think it is going to get worse. am i right in saying that? what say you? >> most definitely does.
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79%, didn't take into consideration the food and fuel price gains, we have to factor those in. it will get worse before it gets better. what i think the fed is trying to do, most of their ideas, that is on the left, they are trying to take out inflation without hurting the economy. i don't think a lot of market participants can. can't raise interest rates on everybody secure one small thing here. they are talking about game. i think he's more hawkish than his words but more dovish and his actions but we will see. we are in trouble. we have a full-blown food crisis and full-blown fuel crisis on our hands. stuart: tell me about the food
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crisis. you are an agricultural commodities trader. why are we heading towards a food crisis? >> with all the inputs that go into producing a crop those went through the roof. you have to see a lot of these prices go through the roof to compensate what it costs to get the stuff on the ground. a lot of folks have been using commodity sector as a proxy for inflation. dennis hartman would say, and all of those things are great inflation hedge. a ton of money in the sector at the beginning of last year and continuing to buy commodities. we are setting records as far as price goes. they are very high and we have this eastern european problem going on and a ton of wheat and
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corn comes out of that area and that adds to the problem. you have fuel with commodities because it takes natural gas to make fertilizer. we can't find fertilizer. the gas and fuel problems causing a spike in crisis when it comes to food already and add the fact that i don't know if you 've taken a look at a drought map but we are dry and the weather doesn't look good for big crops. eastern europe is another problem. there is nothing, wind beneath the wing stuff so that is why we are seeing record high prices. stuart: we will have to climb the wall of worry. it is an uphill struggle. thanks very much. we will see you next week. new data shows how much the pandemic hurt businesses. break it down please.
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lauren: of third experienced significant decline from the federal reserve bank in cleveland and they note minority-owned businesses were less likely to report receiving all the federal-aid they requested. the president is suggesting congress approved $22 billion more in covid relief. republicans want to cut from other areas. we've seen this money pouring through the system. one reason we have inflation. stuart: i see the dow close to 300 points. what's the latest? >> a comeback after the selloff. chinese officials say the 737800 the made the most i've has not been found and they are at a loss -- >> -- -- >> j jill.
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don't know what. >> they sold more items full price and this quarter looking forward, revenue to grow in double-digit's. stuart: charles is sitting next to me in new york city. every time i say what do they do? what is the company about? he laughs. stay there. >> i have no hope of knowing. stuart: general motors and ford. put them on screen. lauren: huge demand for vehicles but a major supply problem. they cut expectations for global otto sales to 80 one. 6 million vehicles down from their previous forecast. demand is not the problem. it is supply and they can keep prices high. stuart: this is the company
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that allows you to split infinitive, to log in safely by remote and i use this every day. lauren: i'm proud of your knowledge of the authentication. right now it is investigating reports of a digital breach. all companies -- stuart: you didn't refer to my split infinitive. i'm a grammarian. charles hurt is laughing. >> it was good enough for winston churchill so it is good enough for us. >> everyone is on heightened dollars because of cyberattacks coming from russia. we told you we are surprised it hasn't happened sooner. these screenshots from hackers that were posted on social media. looks like they are from a previous hack before the war. thousands of companies like
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fedex and t-mobile rely on doctor for their network. what they would find. what would they find? those are great stuff. they are the customers. and -- shall we move on? let's move on. vice president harris went off script and kept repeating herself. a bizarre speech. listen to this. >> the governor and i, we were doing a tour of the library here talking about the significance of the passage of time, the significance of the passage of time. when you think about it, there is great significance to the passage of time in terms of what we need to do to create these jobs and there is such great significance to the passage of time when we think about a day in the life of our children. stuart: did you get that?
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the passage of time. with me is charles hurt. the president and vice president -- >> it is funny. in these serious times, none of this is funny and it is almost like there's a glitch in the robot, moisture in the motherboard and they start flaking out, but when they are dealing with crises around the world. even the situation in the uk, when you take something like this and try to imagine trusting these people to handle these serious situations and you see episodes like this it does not give a lot of faith to regular american voters.
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stuart: i want to ask about iran. i'm told a new nuke deal is coming down the pike. that is what we are hearing. i can't believe that we would go to iran which has been killing americans for two generations and beg them for oil. >> >> people voted for president biden, this is not one of them. the idea these democrats keep going back to that well and put that frankenstein back to get there. it is another example of us trying to empower our enemies and we can america. this is how we find out in the terrible ball tar - straits we are in. stuart: it has to be debated in congress and voted on. >> that will cause a problem for democrats but i worry.
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i have been shocked over the last few years the way the executive has managed to get around congress. stuart: thanks for putting up with me. now this was a former dancing with the stars pro returns to poland to help with ukrainian refugees. ukraine's fierce resistance has slowed russia's advance and vladimir putin is re-examining his options. roll tape. >> the key is neutralizing the government of zelenskyy and taking the capital city of kyiv. i think he is in plan c. stuart: pf territorial defense member will give us a status report from the nation's capital. kyiv, the nation's capital
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stuart: the rally holds, we are in business just under an hour. the dow is up 206, the nasdaq up 206 e1 despite the rapid rise in the interest rates. ukrainian forces have pushed russian troops ahead of a key suburb of the ukrainian capital, kyiv. does this prevent russians from encircling kyiv?
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>> a huge development in terms of this war. more. when you look at what is happening in key have, the city full of the sounds of gunfire and explosions as russia continues its effort to capture this crucial city, the ukrainian government, to retake some crucial territory, a suburb in kyiv. because of this intensified fighting the entire city and region around it under a strict lockdown that will last through tomorrow morning. russian forces trying to surround the city but it is more challenging than they thought. the defense ministry said its troops pushed those forces out of kharkiv, 30 miles west of kyiv. in doing so they regained control of the highway that runs through that area. blocking russian forces from the goal of encircling the city
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and they never trained prior to the war, the ukrainian spirit is driving them to keep going. >> translator: they never thought they would have a gun in her hand but all of them, with all their intentions, determined to resist. >> the siege of mariupol has not let up. scores of people are without running water, electricity or heat. russian forces destroyed nearly everything in their path. then resorted to melting snow and chopping trees down to burn just to stay warm. many civilians cannot get out and are surrounded by the bombardment of the city. volodymyr zelenskyy says the coastal city has been reduced to ash. >> translator: mariupol is 99% destroyed. they bombed us for the past 20 days. during the last five days the planes were flying over us every 5 seconds and dropped
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bombs everywhere on residential buildings, kindergartens, art schools, everywhere. >> russia has made an offer, the they would open humanitarian core doors to let those people out safely but in exchange, the city would have to give up, the mayor denied that request and in doing so, in particular areas in the southern region of ukraine even when these buses get out with civilians on board, in one cases many is four kids were hurt. stuart: thanks very much. listen to what general keith kellogg says about vladimir putin's strategy. >> they've not been able to circle kyiv.
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and down near odessa, the key to the whole fight is neutralizing the government of zelenskyy and taking the capital city and he has done neither. i think he is in plan c. we will let's bring in kyiv territorial defense member, can you give us a status report? i believe you placed the city under a will curfew. >> will curfew so we are going to identify any groups that are russian groups trying to make the city unsafe as well. moments ago we heard in the city huge explosions. we cannot say exactly what it is but in the past four days, every day we hear the sound of explosions, russian rockets
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have landed on the soil of the city of kyiv which is the target of the russian army. stuart: how much food do you have left? >> as long as the city is circled, we are fine but we definitely need medical support, humanitarian support, not to forget. we need to defend our country and we need military equipment. stuart: how are the supplies getting through. kyiv is not completely encircled. is there a small area where trucks can get through? >> the ukrainian armies doing a tremendous job, forcing the russian army through the city. stuart: if there is one thing
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you want right now but the west could give you, what is it? >> not just the west but the world and if we talk about the third world war that might be the shape of it. the entire world, engage the russians invasion of ukraine and the regime of vladimir putin. it is reckless and senseless. civilians are getting killed. 200 children killed, injured and handicapped so the world can support us, and we need to sanction russia. isolate russia economically. every cent that russia is spending on weapons and destroying and killing. as soon as we are going to
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isolate russia the weaker they are going to get so i want to call the world, isolate russia. if you're not isolating a lot is on your hands. ukrainian population, is on your hands. we one thank you very much for being with us. see you again soon. russian forces are freeing some of the staff at chernobyl. we have this report. >> 64 nuclear technicians when the russians stormed the nuclear site at the start of the war on february 24th. releasing the radioactive seen. some of these staff were freed. they were replaced by volunteer relief staff. those are heroes working under those circumstances. stuart: president biden is urging american companies to strengthen their defenses against possible cyber attack from russia.
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>> president biden: not just your interests that are at stake. it is national interests. i respectfully suggest it is a patriotic obligation to invest as much as you can. stuart: president biden met with top oil and bank ceos, the average is $4.20. hillary vaughan has the report. ♪♪ ♪♪
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allergies don't have to be scary. spraying flonase daily stops your body from overreacting to allergens all season long. psst! psst! flonase all good. stuart: i am still seeing green. the dow is up 250, nasdaq is up 213 points even though interest rates are rising sharply. some of the movers include wells fargo. lauren: the banks will benefit from more aggressive rate hikes, wells is outpacing year-to-date their competitors like jpmorgan, goldman sachs, this is your main winner in the financials. we when robin hood is moving. lauren: they are trying to get younger people to invest with
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their new debit card to. have you ever gone to the store and they say you want to round up? when you round up using their new debit card that goes into your robin hood investing account so you can round up into a stock or whatever asset you want to buy. stuart: it looks like a videogame on that side. ali baba were in a huge gain earlier. lauren: they are increasing to $25 billion, the largest share repurchase program ever in china's internet sector. the group is rating it at a by, the price target, $200 implying returns of 90% from here. the thinking with the russian invasion china might back off because their economy is struggling. that's a lot of chinese names up double digits.
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stuart: the white house says they are committed to concrete actions to bring down the cost of gasoline. hillary vaughan at the white house. like what? >> reporter: long-term strategy is to go green but in the meantime they are trying to get oil and gas companies to produce more oil and gas so the price goes down at the pump and putting the blame on these companies for what they are saying, not doing enough to push back on vladimir putin's price hike at the pump. he met with michael gartland -- the meeting felt like washington could be doing more. >> are they doing enough to keep costs low? not enough is happening. lauren: oil and gas groups are debunking the claims that they are to blame.
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representing small and incised producers wrote a letter to the president, from the first day of this administration the tone and tenor of the administration toward oil and gas production in the people who make it happen has been openly hostile. and obvious and demonstrable chilling effect on business decisions especially ones that involve millions in infrastructure. stuart: every time i have flown in the last few months, the plane was packed. they were offering $2000 to go on a later flight. the airlines are sending a lot of tickets. february is the best travel month from before the pandemic. travel expert, the man himself, jeff hoffman. travel should be rebounding. are we seeing it?
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>> as you said february, domestic air travel was 6% before the pandemic. the travel industry is beating its pre-pandemic numbers. delta reported that the best ticket sales they in its hundred year history and american airlines has three days, 50% above any day they have so people are booking and flying right now. stuart: prices are going up dramatically but that doesn't appear to have softened demand. >> the airlines were concerned about the fuel prices. one thing people don't realize is airlines are cutting flights, reducing inventory because they can't afford the fuel costs and it would take 10% to 15% price increase to pass that on to us but what is
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happening is reduced inventory, southwest is canceling 300 flights to reduce inventory increasing demand and driving prices up. that solves the problem of how to pay for the fuel but we need to alert all of our viewers that if you're planning to travel the spring or summer you better buy your ticket fast because they're cutting flights and they will be less. buy your tickets as soon as you can. stuart: i can't wait to get through this ringer. one question stands out. how about overseas travel? some covid restrictions have come off of european travel. is that up dramatically? >> it's not up dramatically but a lot of the international destinations are being opened again. the us is opening to those countries to come here but for us as americans to travel there a lot of countries are relieving their restrictions so we can travel there.
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international travel has not yet seen a big boom. business travelers down so what started the spike was spring break travel. in a world where everybody is working virtually, people are taking work vacations which you've never seen before. i can travel to miami beach and still work from my hotel. that is what is driving the leisure demand but international is still down and business travelers down. stuart: one of these days i will get to australia and new zealand to see my son. the tsa is getting we couldn't. will this speed up my screening? lauren: i believe so. they create these 3d images. futuristic looking. the point is you can keep your liquids, your laptop in your carry-on. if you don't have to sit at the security line, take what you
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need out of it and put it in the bin you can go through faster, you will start seeing those machines this summer. stuart: i wonder how much they cost. lauren: money is time and i hate the airport these days. stuart: this op-ed from the new york times. education could be the downfall of the democrats next election. you can bet we will pay attention to that one. the pain at the pump means more people plugging in but how long does it take to recharge your electric vehicle and how much does it cost? jeff flock has the story after this.
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and it's easy to get a quote at libertymutual.com so you only pay for what you need. isn't that right limu? limu? sorry, one sec. doug blows a whistle. [a vulture squawks.] oh boy. only pay for what you need. ♪liberty, liberty, liberty, liberty♪ stuart: those markets are showing heavy green. the dow is up 300. despite a rising interest rates the nasdaq is up 232 points.
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ford's f one hundred 50 lightning pick up. it is an all electric vehicle with a range of 320 miles. isn't that above that range? lauren: yes, really and -- it gets 329. you want your electric vehicle to go as far as it can. the big winners likely the cyber truck 500 miles whenever it comes out from tesla. it is been the laid and the laid. i am one of those people. stuart: rage anxiety? >> you want to take a long trip without worrying about having to charge. with gas prices close to all-time record highs a lot of people are turning to electric
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vehicles but that might not save them that much money. what is the average cost of electric vehicle compared to what gas powered vehicle? >> reporter: i knew you were going to ask that. somehow i did. look at the numbers. we put it on screen to make it easier to read. in january the average transaction cost for a regular vehicle or any vehicle $46,404. the average transaction price, $63,000. the other problem, in addition to costing so much, to get them back ordered, all vehicles are hard to get but especially evs. you mentioned the f 150, the first electric cadillac, 60,000 but the reservations are sold out so even if you wanted when
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you wouldn't get one anyway. you asked earlier how long it takes to charge one of these? that is a tesla that seems to be alarming for some reason. if you have a model-plaps tesla you can charge for 30 minutes, full charge. if you are at home and have one of the home charging units, that will take 18 hours to totally charge it but if you plug into a regular charger, he finally turned off, thank you so much. plug into your regular socket, that will take two days to charge your model-plaps. stuart: i think the person who's got an alarm going is from a competing network trying to sabotage your report. i'm convinced of it. >> reporter: i don't know.
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he has two flat tires on his toes love. not sure what is going on but i will look into it. stuart: see you later. talk to me, is there supposed to be a wave of charging stations across the country? lauren: they are saying don't pass us by. stop and fill up and buy something, new jersey announced a one million-dollar grant program to put charging stations in tourist spots like atlantic city and new jersey. we are seeing this. as part of the infrastructure plan and the move to electric. stuart: thank you. 17 lawmakers are suing the cdc to end the federal mask mandate on flights. former president donald trump's
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stuart: let's check the markets. we have a solid rally for the
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dow industrials. 34,800. well over 200 points. the markets rallying even though the yield on the 10 year treasury is up to 2. 37%. 10 days ago it was below 2%. now it is above it. that arise interest rates and rapid rise at that, has not upset the nasdaq. the price of gold not doing much, down $19.19 per ounce. as for bitcoin rallying quite nicely. it seems to be following stocks. bitcoin this morning is $42,900 per coin. it theory him is doing well as is the stock market. maybe they are working in tandem. the price of oil at $112 a barrel, came all the way back to $1.09 -- $109.90.
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that implies gasoline will stop going up. natural gas was $5 per million british thermal units. i am surprised it has been a relatively cold winter and we've not seen natural gas rise above the $5 mark for some time. let's get to gasoline. the high was $4.33 a gallon a week ago. we have come down with the price of oil, that is where we are right now. i think that decline in gasoline prices is coming to us neilsen's oily stabilizing around one hundred $12 a barrel. donald trump's save america pack has $110 million cash. that is more than republicans and democrats combined.
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lauren: the rnc at $45.5 million. all of these fundraisers, rallies, that is how he brings in his money. he could use the funds for television ad for a run in 2,024 and is using it now as he did last year to endorse fellow republicans in the midterms. stuart: that is what he is using his money for. the time roles on. 10:51. here is brian kilmeade. yesterday i was joined by donald trump. i told him looking back to the elections of 2,020 is not a good strategy and he disagreed. what say you? brian: you are right. i don't know anybody who thinks it's a good idea. maybe steve bannon who calls everyone on this station stupid except jesse and tucker.
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i think anybody who is against donald trump wants him to keep talking about 2,020 was anyone who wants to make sure he is not president again wants him to continue talking about 2020. anyone who thought he did good things under difficult circumstances, the stuff he brought on his it himself, the russian hoax and over his head the last two years, the constant being harangued over his taxes and being harangued now, he was able to do some extraordinary things, you see this administration flub every foreign policy challenge time after time but 2020 nobody cares. i talked to william bar, if it was something, but turned this place upside down. you have a clown show fool of lawyers. that's why they put together a
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plan but most of his lawyers don't want any part of it. stuart: there is one other element i did not raise and that is his demeanor, his approach to politics. his harshness, the words he uses. the criticism he lays on people. i don't think that goes down well with a lot of voters. i didn't say this to him but i think he should knock that off if you wants to run and win in 2024. a touchy subject. brian: chris christie was speaking in new hampshire saying he's going to run, nobody should get a clear path to the nomination but i can see someone going at it with trump, dropping the gloves and walking away, when trump walks away, 38% to 42% of the republican vote, that's not going to get you the nomination, it's not going to get you the presidency. number 2, so easy to figure this out. the president walked away with more votes than any republican
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in the history of the country. in impossible circumstances in the pandemic and all the challenges, not knowing what this was, friction with anthony fauci, telling the country to shut down, stopping the economy. having a russia investigation and still got more votes than any republican in the history of the country and he could not do what he does best, attract big crowds, big rallies for 2 thirds of the campaign. that is what i would be saying. if president biden can do it, like andrew jackson the best example, he got beat even though he had more votes, got beaten in the house of representatives, he not only showed up, he showed up for the party after rand beat him twice. stuart: i got a bone to pick with you. larry kudlow was on your show
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and you couldn't contain your excitement. >> host of kudlow at 4:00 every day. of the ratings hit. the hypersonic missile of fox business. stuart: so larry kudlow is the hypersonic missile of fox business and i'm not. i would suggest ainsley and steve on fox and friends are the real hypersonic missiles, you want to counter that? brian: yes. hypersonic missile isn't the most powerful weapon. larry things it is because he's from a different generation. he things hypersonic is the biggest missile but intercontinental, hypersonic, global is the one i hold for you. stuart: your thoughts are meandering. brian: you are harder to stop with the best defensive shield ever. something spaceport can't contain.
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stuart: you just regained your credibility just like that. thank you very much. time is up. thank you very much. we hope to see you next week. brian: thank you. stuart: we will be watching you on one nation. still had florida congressman brian mask, todd pyro, senator marco rubio has legislation that would end clock changing. i am dead set against it. i want to keep changing the clocks. they are all electronic anyway. it is "my take" and it is next. if you invest in the s&p 500 your portfolio may be too concentrated in big companies. this can leave it imbalanced and exposed when performance varies.
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a goal to work toward, or the freedom to walk away. with 200 years of experience, personalized advice, and commission free trades on an award-winning app, we are working for you. planning. investing. advice. jp morgan wealth management. >> all this stuff about powell will raise rates but he won't. the insanity is his balance sheet, his portfolio, his bond buying continues. we have a full-blown food crisis and a full-blown fuel crisis on our hands right now. >> the next presidential election is going to be about a failed president, are you
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better off under biden than you were under trump? >> the issue is how you get a capability that has immediate effect. >> not only military but restoring our energy system and keeping it safe. stuart: 11:00 eastern time, tuesday, march 22nd. i see green on the left of the screen, the dow is up 220 but so is the nasdaq. that is a solid gain both times around. show me the price of oil. earlier it was at one hundred 12, slipped to one hundred 9, now it is one hundred $10 a barrel. this is the real headline of the day. the yield on the 10 year treasury all the way up to 2. 37%. only a matter of time before mortgage rates move further up from 4%. now this.
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earlier this morning ukrainian president zelenskyy addressed the italian parliament, described a distraction of mariupol and other cities and asked his audience how they would feel if rome were destroyed. this man knows how to get to an audience. he seemed exasperated. the russians are conducting a campaign of terror killing civilians and demolishing whole cities. where is the game changing military help that he needs? they are getting, because the drones but the white house said no to planes or a no fly zone. the ukrainians cannot be allowed to lose. larry putin's military is not performing well, there are food riots in moscow and he arrested two kgb men who were sent before the invasion, supposed to bribe officials to let the russians in but they kept the money and kept the russians out. the russians can't be allowed to win in the ukrainians can't be allowed to lose.
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president biden makes -- meet european and nato borders this week. the ball is in his court. he is america's wartime leader. todd pyro is with us for the our. welcome back. what do you want to see this week? >> the same thing i asked for last week and we didn't get which is more help to the region. stop with the talking. i know zelenskyy is a great speaker and get a lot of applause but applause does not save the lives of women and children. all we heard from the international community is praise for zelenskyy, we love how he unifies people, they need weapons. we need to get the weapons sooner rather than later. you mentioned the drone, that's well and good but you know what zelenskyy needs? all weapons and reinforcements he asked for prior to august happening on february 24th but here we are a month later and still haven't -- how much longer can the ukrainian people last? stuart: they can't be allowed
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to lose. time is short. they could lose. >> i am not saying no fly zone but there's a lot more that we can do between nothing and the no fly zone. we are talking the good game. influence has been great. people want to help but we are not doing anything. we need to do something. next week, i'm not saying of a same thing. stuart: you want to come into this? >> there might be an investigation later why those weapons, we had so much good intelligence and are we providing taiwan with what they need. stuart: time is of the essence. we can't let them lose. lauren: it is one month to the day when president biden meets with all the leaders and if we see chemical or biological attacks that changes our involvement. >> analysis by paralysis, stop
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it. action needs to happen. stuart: i am with you all the way and another one for you. look at this headline in the new york times, this is the new york times. if you think republicans are overplaying schools, you aren't paying attention. they suggested the education issue is good for republicans this november. you agree? >> 100%. what has changed since glenn youngerqian made it the centerpiece of his campaign kick you have the democrats done anything or markable education since november? nothing. they've done nothing to tell republicans, democrats that they are going to change and focus on the people's kids. until they do that this is the republicans advantage and the republicans are going to take it and ride it as much as they can this november. it is another way the democrats will lose the house and the senate this november. lauren: interviewed rhonda
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mcdaniel on my podcast and she said there's a new political class, moms are involved and their message is a commonsense message. that the message. stop with his craziness and bring it back to the basics and that is the republican strong point. >> when you talk to moms are they focused on the permutations that we all discussed about politics on a day-to-day basis? no. they are focused on their kids. do something to hurt their kids they will vote for the other side and that is in play right now. stuart: a quick something to say on the yale law student who shouted down out conservative speaker. >> and joy these two years of law school. when you get out and going to anything, private practice, the judiciary, nonprofit work, this is not how it works. you have a boss, the boss will demand things and if you don't to do what you are supposed to
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do and act like an adult you going to be fired. i don't care if you went to yale or the todd pyro school of law, you are going to not succeed. stuart: last words. lauren: a judge said those protesters were mobbed and should not be hired as clerks. stuart: i think we are all in agreement. let's move to the markets. we still have a rally. we are up 200 points on the dow, 245 points on the nasdaq. look who is here. this man is forecasting the melt up. a melt up. when are we going to see it and why are we going to gotta melt up? >> this is the melt up. i've been on your show the last month talking about and accumulation phase into february and here we are, the
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market moved pretty good. nobody is looking to sell. all those managers who were down on the year right now were hoping this thing keeps going. this is not when you want to be buying. i say bye-bye bye for the last month and 1/2 and this is not the way to change the market. not just technicals. the momentum -- stuart: hold on. i am not technical and you know that. why should people not be buying now if you are forecasting a melt up or we are in a melt up in the immediate future? >> we are in the melt up. i'm not chasing higher positioning and buying at these levels, the accumulation phase is over the last month and if you're chasing higher you will make money. i think we will be at record
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highs if inflation is proven to be contained but right now, probably within the near peak of this run through this melt up. the melt up began last week. stuart: that's quite a suggestion that inflation will moderate by the summer. we would love to be in a melt up and i hope we are in a melt up because i would make some money. we will see you soon. let's talk movers. nike is moving. lauren: the good news is the production shortfalls that hit them are behind them. vietnam factories running at pre-shutdown volumes. however, no guidance for the year at least not yet. stuart: a lending company. stuart: that's what the script told me. lauren: they were downgraded to underperform. they are worried about future
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to lincoln sees as prices rise and the economy slows. upstart is newer, their underwriting model has not been battle tested. should there be a recession how does that impact upstart. stuart: this is a company you know about and i don't. do you know what they do? >> i am embarrassed. i am not a member. we wanted to move. $65. stuart: why is up 10%? lauren: they report after the bell and expected to report a loss, $0.18 a share but watch what they say, investors are expecting a surprise to the upside because mk am km partners warns of slower sales and cut their price target in half to $10 so it is above that now. stuart: got it. now i am going to change the
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subject entirely. stand by for news. who used to say that? can't remember his name. >> cronkite. stuart: paul -- way before your time. listen to this. i like changing the clocks in the spring and fall. to me it marks the changing of the season. i look forward or delayed in the spring and i enjoy hunkering down in the early dark of fall. i don't want permanent daylight savings. most of our viewers will not remember the last time we stopped changing the clocks in 1974-nineteen seventy five. it didn't last. people in the frozen north got fed up with darkness until midmorning in winter, kids going to school before don, farmers and new parents had a lot of trouble too. senator marco rubio from sunny florida has legislation that would end clock changing. it sailed through the senate and faces a vote in the house.
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i am against it. i want to keep changing the clocks. they are all electronic anyway. lauren: you are a creature of habit. i get confused. some clocks automatically change and the older ones stay the same. what time is it? stuart: you with me? lauren: i don't know what is more embarrassing, dressed up like the dickens character changing all your clocks, not even twice a year. you're the only person i know in the world who says i love changing clocks. stuart: there is one clock i don't know how to change. daylight savings. we are not in agreement. hold on. the former dancing with the stars pro who documented his escape from ukraine is back in europe to help refugees. i have his story. nick ryan is seen as the last line of defense for the port
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city of odesa. they are determined to kick the russians out. do they have enough supplies and ammunition? i will ask the regional governor. antiwar activists blocking the border between poland and belarus backup 30 miles. ashley webster has the story from poland after this.
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with eligible trade-in. stuart: ukrainian antiwar activists blocked trucks and belarus, traffic backed up for 30 miles. ashley webster is there. either russian supply trucks being held up?
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ashley: some are, some are headed for russia. a couple from moscow. they don't speak much english. others are bound for belarus. 1500 trucks, the backup has been going on several weeks. we have some video where angry drivers confronted the protesters saying these trucks should not be allowed across the border because they generate money for the russian war machine but these trucks are about to go across and we spoke with one of them, alexander is the driver from russia, he had frozen potatoes, have nothing to do with the war, just trying to make a living for myself and my family. >> it is only for our families.
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this war, for people, not for russia. ashley: we got some pictures of the line of trucks. not great for truck drivers who are making no money sitting here and burning through fuel, they are not happy with the situation but the protesters say this is a way for vladimir putin to circumvent sanctions and bring goods through the freight lines. they say this should not be happening. they are appealing to the eu to cut off the trade route from poland into belarus and russia. the blue building, the border with belarus, they normally have three open lines, only one line open, only processing 200 trucks every five hours, drivers say it is all political. they accuse the polish government of operating go slow but the bottom line, protesters say this shouldn't be happening, we don't know what
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is in these trucks and they shouldn't go into belarus and onto russia. interesting situation. stuart: thanks. the russian forces inching closer, that city is the last line of defense before the russians take odesa. natalie kim is the governor of the region. you are trying to stop russian forces getting into their. have you gotten any food and ammunition left? >> we have emission, food, medicine. stuart: how are supplies getting through? >> with odesa, with kyiv, we have no problems of supply now. stuart: how long can you hold out?
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>> till our victory. stuart: no matter what. >> no matter what. stuart: you had experience fighting the russians firsthand. how do you judge the quality of their troops and equipment? >> different kind of military. there are young russians, 18 or 20 years old, no experience, people from the west of ukraine, russians special forces, it depends on the army that fights. stuart: are you able to communicate with your colleagues easily like on social media for example? >> my colleagues in ukraine? >> yes. >> of course. i communicate with them every day.
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hello? stuart: i am sorry. we have a problem with the audio. i can't hear precisely. >> my colleagues, administrations, communication every day. stuart: is that throughout ukraine? you are in a difficult position but you are able to communicate on social media with your colleagues. >> i can do that. stuart: i thought that was important so you are not entirely cut off. that's an important point. thanks for being with us. sorry it is so short. thanks a lot. president biden's warning against cyber attacks from russia. what is he saying? >> seems like logical stuff but the white house is saying, it's
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a notable moment, stark warning to corporations, make sure your cyber defenses are as strong as possible because the intel is showing russia looking to strike after the feds gave are classified briefings to hundreds of companies last week, one us official saying the government has seen activity already but did not specify which industries could be at risk. the administration telling companies to back up and encrypt the data, refresh passwords and use authorization that they should be doing. hopefully they got more specific in the classified briefing. stuart: it is under the radar, you don't know what is going on. next one for you. former dancing with the stars pro maxine turowski fled the war, returned to poland, helping refugees. >> this is controversial. former dancing with the stars pro returning to poland to help those ukrainian refugees, ukrainian american himself,
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professional dancer saying he wanted to be a bigger presence and relief efforts, he returned to la after fleeing ukraine around march 2nd but expressed guilt for doing so. the fund he helped establish to help ukraine has raised $145,000. he is an american citizen, to leave his people behind, tough call and it ate at him a lot. stuart: that is why he has gone back to some degree. check those markets please, still seeing green all over the place, look at the nasdaq up 2%, 14,000 on the nasdaq. we have a rally this tuesday morning. a growing number of high schools doing away with valedictorians, they don't want learning to be competitive. zelenskyy putting pressure on washington to send more weapons. congressman brian mass, a former army ranger takes it on
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i didn't know my genetic report could tell me i was prone to harmful blood clots. i travel a ton, so this info was kind of life changing. maybe even lifesaving. ♪do you know what the future holds?♪
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we gotta tell people that liberty mutual customizes car insurance so you only pay for what you need, and we gotta do it fast. [limu emu squawks] woo! new personal record, limu! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪ stuart: sounding like a broken record. it is a rally. that was up 200 and so is the nasdaq.
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that is a rally. susan is with us to explain why tesla is up 2.5%. susan: elon musk is opening the battery and car factory. the richest man on the planet at the ribbon-cutting ceremony. apparently elon musk himself will personally deliver the first few cars that rolloff the production line. they could ramp to produce 500,000 cars a year. fairly significant given tesla deliver record 936,000 vehicles last year. it it is 60% of that number. stuart: they can sell anything they can produce. >> demand is there. it's a supply issue. it is better than most. being able to produce and deliver a record number of cars
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and the supply chain crisis. stuart: are they the best electric vehicle maker? if you were going to choose an electric car would you choose a tesla? susan: you would choose a german brand, you said that earlier. tesla is considered, if i was to choose, this is a longer range or charge i would choose tesla. stuart: back to vote 10 year treasury yield which is an important story. high-tech's rallying. susan: high-growth up significantly, despite the highest 10 year treasury yield in three years but tech stocks fall in that type of environment. with investors and companies,
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ali baba spending $25 billion to buy their own stock and you see a lot of money rotate into us stock funds with bargain-hunting taking place. stuart: interest rate, 2. 38%, a 3-year high. susan: i will get more technical. the 30 year treasury yield hasn't actually gone up that much. i don't want to confuse you but the 30 year treasury yield doesn't go up that much. doesn't depreciate the earnings of these companies. stuart: we are not going to get into the yield curve, cryptos are doing pretty well. etherieumis outperforming bitcoin. susan: bitcoin is still at 40,000. they come back a lot faster and closing on their records faster because of a software update upcoming. you know what layer one is?
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i want to -- layer 1 cryptos, the underlying block chain technology building services. stuart: what a splendid explanation. can't beat that. you are all right. let's get serious. donald trump says it is time to get the us off the sidelines and help ukraine fight. watch this. >> what we can do is enormous and we should be doing it and helping them to survive. when he goes in and kills thousands of people are we going to sit by and watch? this country will be in 100 years from now they will be talking about what a horrible thing this is. we won congressman brian mass is a former army ranger who served in afghanistan.
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what kind of military help would you give to the ukrainians? >> we continue what we are doing to knock aircraft out of the sky, helicopters or airplanes, continue light military weapons. i believe we go out and help europe enforce a no-fly zone, turkish jets, german jets, uk jets, the list goes on and we look at this the way donald trump was saying, historically speaking america makes the mistake of going halfway into battle. we are conducting economic warfare, cyber warfare, those are types of warfare, arming the ukrainians but doing this with one foot out the door. we have a saying to combat survive combat you have to become combat, to survive war you have to become more. you can't be halfway into war
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and expect to be successful. stuart: if the russians were to use chemical weapons in any way, shape or form does that change the equation dramatically? is that where nato has a right to fight itself? >> i will tell you something i hope startles every person watching this. there are no red no redlines from the united states of america. your country, your congress and others are derelict in looking at this. there was not a redline as relates to chemical weapons or nuclear weapons or 10,000 dead or 50,000 dead or anything else, president zelenskyy spoke to congress last week and afterward everybody got up, applauded, walked out of the room and there was no meeting later that day or the rest of the week between all the members of congress to say did he change us? will be respond to his plea? no meeting between all the members of the foreign affairs committee, the senate foreign relations committee and the
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state department and the pentagon to discuss that and as a result your government is derelict and doesn't have those redlines. stuart: do you think president biden should state a redline in europe this week? >> one hundred% president biden should state a redline this weekend long before. you have him going out and telling people you need to beyond the defense and be aware this is possible and probable that these attacks come your way. he didn't tell russia this is a redline, if this offend that, that needs to be what american leadership looks like and what donald trump's leadership look like, if you do this you can expect this in return. stuart: thank you for joining us on a regular basis. always informative and we appreciate it. the city of mariupol cut off from food, water and electricity. some people are so desperate
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they are cooking with fire sets by the russians. we told you about censorship on russian tv with bands on facebook and instagram. is any real information getting through? we can answer that next.
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stuart: we like to check the market frequent the especially when it is rallying. can't read the percentage. nasdaq is up 2% and the s&p up 1%. do your number this? the young girl who sang let it go in a ukrainian bombshell. she's out of ukraine and singing on the big stage. we will show it to you.
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>> you can't watch that video without feeling and she's taking that voice of hers to another level. a concert benefiting refugees in poland. ♪♪ >> the ukrainian national anthem she was sinking. her name is amelia, just 7 years old. need to reiterate she is one of 2 million refugees in poland. her dad is in ukraine. stuart: a wonderful story. a moscow court has banned facebook and instagram from operating in the country. vivek ramashwami knows about social networks and joins us
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now. ending information getting through to russia or are they totally cut off? >> some information get through because people can use vpn. i admire the russian people's resolve to access unfiltered information. we sina tenfold spike in the number of downloads of vpn applications. russia is cracking down on that and the other thing we've seen in the older population is greater approval ratings for putin heading into the invasion of ukraine and a majority of russians approve of their course of action. it is imperfect but also we talked about this before. we need to look ourselves in the mirror because while they have the digital iron curtain russia we have our own version of the digital iron curtain here too. not government per se but working in coordination with private companies to censor the information we get at home and one of the things we need to
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preserve is our own moral standing to stand for the free flow of information and true freedom around the world or we risk becoming the enemy within. stuart: i will change the subject to something you are interested in. we have a woke school district in colorado getting rid of valedictorian awards, learning is not a competition. i can see you smiling. have at it. >> i agree narrowly that learning is an to competition but participation trophies aren't going to give us the culture we need for the united states to remain a leader. i'm a first-generation american. whether you are on the left or the right number one of the things that unifies us is our shared pursuit of excellence whether that is in sports or the arts or the classroom, that is one of the things we have lost in the modern apologist culture. we used to be built around the culture of excellence, we are
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increasingly built around the culture of victimhood where a victim has are placed excellence as the heart of the national identity. the inner animal spirit is all about the pursuit of excellence. places like china to lift them up, we need to claim it back and a lot of americans might have rallied behind the cry of make america great again part of what we hunger for is the unapologetic pursuit of excellence again and it starts in the classroom getting rid of these anti-democratic forces that are infecting the next generation of americans. stuart: talking about pursuit of excellence didn't you make your fortune, a large fortune, in biotechnology? >> i started a number of companies, in the biotech industry but i credit a lot of that to my education. i came to this country not with a lot of money but to give
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something good to their children and i am proud to say i was a valedictorian, i am biased here but i believe the shared pursuit of excellence draws people to this country and brings us together. stuart: where did you grow up? >> in cincinnati, ohio. stuart: may i ask where your parents came from? >> they came from india which why did you come to southwest ohio? my dad is from indiana, the only us state with the word india in the name of the state. that is a family joke. stuart: we will take it. thank you, congratulations on being such a success and the poignant analysis. see you soon. a new poll shows which is the most realistic political show? "varney and company"? >> number one.
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let's go to number 2. this is scripted tv. 50 one% of americans think the west wing, the show the depicted staffers discussing policy through the halls of the white house is really what happens. people between 35, and 54, my age group, prime viewing age when the show began in 1999 were most likely to have that view. 33% of americans believe cable news, stuart varney does the best job portraying how government runs while 29% said scripted tv shows do a better job, 4% think we do a better job than the folks on the west wing. do i have time for soapbox? jen psaki is the prototypical mindset of the individual who watched the west wing and wents to carry that through to how government works. you see how she operates on twitter before and currently, that is the mindset. it is a liberal mindset that that is how it is supposed to work so a lot of conservatives
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heard what i said and threw something at the tv. stuart: i wish there was a west wing episode during the trump administration and you see the trump white house. you are all right. let's have a look at the state of the markets, the dow 30, left-hand side of the screen, the dow up 200, about two thirds of the dow 30 on the upside, one third down but we still got the rally going. i have dramatic video for you, drone video shows a car factory destroyed by russian strikes in mariupol. our next guest fled from that city last week to share his survival story after this. i didn't know you had dahlias, they're my favorite. they just came in. thank you. i should do a marketing campaign.
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stuart: a ukrainian official says bombs are dropping every 10 minutes in mariupol. the president of mariupol tv joined me now, nikolai, you fled the city last week. how did you get out?
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>> actually, i escaped from the city with my family last week. how can i make it -- jumped in the car and went out. it really helped to. as you can see, only a little part of what the people see every day, bombs going every 10 minutes, bombs, rockets, every minute. every minute in any part of the city. i escaped but something about, 250,000 people there and something about i think many
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children so 50,000 children and they don't have two weeks or at most they don't have water, food, medicine. stuart: i know the people in mariupol are going to fight to the end but how long can they last? an awful question to ask, but can you tell me? >> i don't know. as i know, in some shelter there is no food. no food. people have only a few buckets of water or dirty water but they don't have any food. any food they can find, they give to children, grandma, grandpa, and people like me,
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they -- their goal is to save the children and they can't do it. stuart: thank you for being on the program. we wish you the best, for all those poor people left behind in mariupol. appreciate you being here. ukraine's president zelenskyy has singled out nestlé for continuing to do business in russia. nestlé is defending their business. >> nestlé is the largest food company in the world, facing pressure to stop all business in russia, stopping shouldn't of nonessential items to russia but selling things like baby food, cereal and pet food in the country. nestlé said it does not make a profit from its remaining activities in russia and suspended new investment but ukraine and many members of the world community -- stuart: they want to cut off russia entirely from all
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western products. >> to force putin's hand. it hasn't worked in a month. we went sanctions punishment don't normally reverse a country's actions. >> i'm not going anywhere. stuart: right now we have the tuesday trivia question. you are allowed to guess. i will read for our radio listeners. how many americans got married in 2019. 1.77 million? 2.2 million? 2.84 million? 3.14 million? one of them is the correct answer. todd will take a guess right after this. . .
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stuart: yes, we asked the question, you who many americans got mad married in 2019. final guess for you. >> i said three. stuart: i went with 1.7 millions on the grounds americans don't get married today, but they live in zinn. that is apparently an old-fashioned expression. the answer is 2.02 million. the average cost after wed something $28,964. does that seem low to you. >> did you get your copy of 2022 bride. love it. can't get enough. i wish you could record the commercial breaks. that is the greatest commercial breaks i ever had in tv. stuart: why? >> i won't say. it is your show. stuart: i said we have often on
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this program, kurt volcker, mo is american ambassador to nato. my daughter an bell la, in the studio, interviewed mr. volcker. he recognized the last name. he said to my daughter, is that man on fox business your grandfather? oh, i thought i would end on a happy note. time's up for me. absolutely. >> i love you dad. stuart: thank you, angela, you're all right. neil, it is yours. neil: all right, well, thank you, pops. all right. let's take a get going here. the market is still rising in the face of higher interest rates. man, oh, man, these are really high interest rates. do you see what is going on in the 10-year? now at the highest level since 2019. we're not that far from 2.40%. the two-year at a multiyear high. so this is a continuing trend here in the face of what will likely be, maybe a sped up, if not increased rate of increas

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