>> probably not. >> yeah. this is going to be -- maria: the securities and exchange commission. >> this is going to be an interesting battle, and it's going to be played out publicly, as you know. as elon musk knows, the sec can give you fines, so they can get you into trouble. maria: yeah, we'll see. we'll be watching. ryan payne, kelly jane torrance, thank you both for being being here. have a good day, "varney & company" begins right now. stu, take it away. stuart: good morning, everyone. where do you start when the news is flowing thick and fast? st got to be elon musk, richest guy in the world and the wildest of all headline makers. here we go. his purchase of twitter is on hold. lots of moving parts to this story, but the bottom line is musk does not believe twitter's account numbers. he's saying to twitter, show me the real numbers. there's uproar about. the stock sinks to around $36 a share, and nobody knows if the deal will go through.

a lot more on this coming up for you. inflation at another major league headline this morning, gas going to $4.52 on average, up 4 cents just overnight. and diesel, another few if high, $5.57. the administration appears clueless on how to deal with this. their plan is tax and spend. frankly, that reminds me of 1979. to the markets. a stock rally at least at the opening bell. the dow's going to be up close to, what, 400 points, s&p 60 and the nasdaq up 230-odd points. that would be a rally. bitcoin back to $30,000, 30,500 to be precise. interest rates still below the 3% level on the 10-year treasury, coming in right now at 2.95%. and then we have abbott labs. it has reached a deal to reopen its closed baby formula factory, and the administration will allow foreign-made formula into this up country. however, it'll be weeks before supplies return to anything like

normal. politics. primaries in five states today, but the big race is for the senate in pennsylvaniament a late surge -- pennsylvania. a late surge by republican kathy barnette. you've got to keep an eye on the turnout here. republican voters have been turning out many droves, and so far those three candidates are in a dead heat. all right, folks, it's great to be back. florida was really wonderful. it's tuesday, may 17th, 2022. "varney & company" is about to begin. ♪ ♪ ♪ stuart: we have the latest read on retail sales, 32 minutes ago. the number is hotter than expected in april. what's the takeaway, lauren?

lauren: strong demand and higher prices. so retail sales are not adjusted for inflation. they rose .9% in april from march and 8.2% in april from last april. the consumer has resilience so far. i want to show you where sales declined from last year, two categories, motor vehicles and parts, and electronics and appliances down more than 5% there. just a trend -- i won't say trend, something that we noted. maybe there are areas where the consumer is pulling back. stuart: okay. got that. now, a couple of big retailerrers, walmart, home depot. they all reported this morning. lauren: yep. stuart: home depot's done well. lauren: very well. three solid points came through this report. their revenue grew to the highest ever of almost $39 billion. their same store sales were expected to fall, they actually rose 2.2%, and hay raised their full-year outlook. my takeaway here is that the housing market might be

recession-proof. it's slowing, but is it recession-proof? we can debate that -- stuart: love to hear that. lauren: all right. walmart is the other dow stock, they paint a completely different picture. down 6% here in the premarket. the company is dinged by inflation. i say that because they said their full-year profit is going to decrease because of the high cost of fuel and labor, and the customer has been dinged by inflation. the number of transactions at wal-mart was flat, but consumers pent about 3% more concern spent about if % more each time because heir -- 3% more each time base they're paying higher prices. stuart: that takes 60 points off the dow. walmart's a dow stock, it's down today, takes 60 points off the dow. apart from that, it would have been up 450. man on the left-hand side of the screen, that's elon musk. he says the twitter deal not move forward. this is all about fakes and if bots. lauren: 100%. stuart: go ahead.

lauren: and a disagreement about how many fake accounts are are there. so this is what musk says, 20% spam accounts, four times what twitter claims could be much higher. my offer was based on sec filings being accurate. yesterday's twitter's ceo publicly refused to show proof. the sale cannot move forward until he does. there's consensus on wall street that this is his strategy, right, to get a better price, to bring down 54.20. does twitter play ball here? if they have no other buyers that have emerged that we know about, but you can make the argument asmusing is negotiating this on twitter -- musk is negotiating this on twitter, he may be shooting himself in the foot. let's prove that, he's undermining twitter's financials. so how do you get backers in to finance part of the deal if you just undermined the financials, right? and the post is reporting he's considering selling his spacex

shares to help fund this deal. stuart: essentially, musk is saying your company is not worth $54 a share, and i'm not paying $54 a share. let's work out a better price. lauren: do you think they do? [laughter] stuart: i will not forecast. we're going to talk about this during the show. let's get to politics. pennsylvania, it's primary day there. a virtual three-way tie in the gop senate race. well, look who's with us now, lawrence jones. he's at a diner in pennsylvania. all right, lawrence, you've been talking to voters all morning. what are the key issues right there in pennsylvania? >> you know, stu, i'm grad we're on the business network -- glad we're on the business network because it's all about the economy. i i keep hearing gas, gas, gas, inflation, inflation. these kitchen table issues, you can talk about crime and all the other things. i'm not saying they don't matter, but for the average folks here in pennsylvania, i have people here deciding if they're going to pay a bill or eat.

i mean, that's just ridiculous. so i think it is going to be that issue that impacts the candidates. so what are we hearing? dr. oz has the support of former president trump. it seems like he has a lot of support, also kathy bar kathy barnette who's couraging -- surging. a little talk about dr. oz's past, is he pro-life or not, is he truly a conservative, but you see some supporters going that a way. also the controversy surrounding barnettt. mccormick is also in that three-way tie virtually when it comes to the polling, but when i'm talking to focus here today, i'm hearing barnette and oz. stuart: yeah. is it possible that barnette and oz will split the trump vote, leaving mccormick to walk in? is that a possible scenario? >> you know what?

a lot of people have talked about that, splitting of the vote. any political analyst saying they know the outcome of this election, i just think they're lying. [laughter] i was on with you last week, stu, in west virginia. it was easy to call that because you heard it from the people'ses. but when i'm here in this diner today, the vote is so split, i don't feel confident making a call on this. stuart: okay. you're a smart guy, you really are. [laughter] don't make a call if you don't feel confident. >> listen are, stu, i'm trying to be like you when i grow up, brother. [laughter] stuart: i don't know how to follow that one, i really don't, lawrence. [laughter] okay. lawrence, we'll be back to you later. thanks a lot, see you shortly. and by the way, kathy barnette, one with of the candidates on the republican side, she will be on our show today, around 10:30. check futures, here's how we're going to open up this tuesday morning, up maybe 400 for the dow, 200 for the nasdaq. that would be a rally.

brian belski back with us this morning. are we going to go and get into a recession this year? yes or nosome -- no? >> so great to see you again. you know, our great economic department believes that it's probably more of a 2023, 2024 type scenario, and i think that's true. especially given where the fed is positioning interest rates, and i know you talked about the 10-year being a little below 3%, but they think we're going to see mid 3 type of a number for the 10-year treasury. and then with the overnight rate being fed funds, between 2.50-3, that means the yield curve is going to continue to steepen, and that tells you that the economy continues to grow. so you saw the retail sales number. never december count -- discount the u.s. consumer. i think the market's been discriminating against those high multiple names in tech.

mr. market did its job. i think we're in recovery moment i believe this is not a bear market rally. stuart: you think the bottom was hit last week and from here on out we're going to go up and down, up and down, but essentially the bottom is being put in, it was put in last week. that's your belief. >> yeah. this transition to, quote-unquote, normalcy is going to be volatile, and we've said this all along this year, as the market turns away from the momentum-driven market of the last few years, stuart, that that's going to take time. we rerated the market, and we kind of know what our outlook is in terms of growth going forward, and i think growth's going to surprise the second half of the year, and that's going to provide valuation support to the market that actually did get a little excessive. stuart: okay, we got it. brian belski, interesting perspective, see you again real soon. again, check futures, left-hand side of the screen. for our radio listeners, we're up about 400 for the dow. walmart, by the way, is a dow

stock, and it's taking 60 points off the dow, so you're looking at a solid gain for the dow, and the nasdaq's up 40. good stuff. next case. bezos v. biden. the amazon founder ripping the president over inflation. the white house not taking that lying down. watch. >> it's not a huge mystery why one of the wealthiest individuals on everett, right, to poses an -- on earth, to poses an economic agenda for the middle class. stuart: the latest on the billionaire's back and forthcoming for you. mask up, new york city says people should start wearing masks inside again. is this necessary? dr. marty ma car key -- makary is here with an answer after this. ♪ don't stand, don't stand so, don't stand so close to me. ♪ don't stand, don't stand so, don't stand so close to me ♪♪

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♪ ♪ stuart: ah, florida. wish i was still there. no, i don't, i love new york city during this weather. that is daytona beach w. heading to a high of 90 degrees. all right. we have something positive on the baby formula shortage. abbott will be able to reopen hair factory in michigan -- their factory in michigan. okay, when will it reopen somehow soon will the formula get back on the schells? do you have answers -- shelves? lauren: i have answers, but i don't think this is good news. abbott expect fda have reached a cop sent decree on how to reopen the michigan plant. so it's a plan to restart, they aren't restarting it. once it's approved by a court, production could begin within two weeks but might take 6-8

weeks for the formula to hit the schells, so we're talking two months -- shelves. here's the relief and good news for desperate parents. another manufacturer increased production by 30%, and necessary nestle is flying some of the sensitive formulas in from germany and switzerland in the meantime. so more formula will be coming to store shelves but not from abbott in the immediate future, and that's the nation's biggest producer. stuart: okay, got it. thank you, lauren. new york city is heading to high covid alert as news cases really do, they're ticking up. high covid alert in new york city. dr. marty makary joins us now. there is a recommendation that here in the city, new york city, we go back to wearing masks indoors. will masks really help stop spreadsome. >> well, look, if somebody's concerned, they can wear one-way maxing with a quality mask, but the little known secret that politicians this in missouri don't understand is people -- in new york don't understand is people don't want to live like that. it's really a denial of the

inevitable because covid-19 is an inevitable virus, and in places around the world where we've seen countries already experience an omicron wave, we're not seeing a bump in hospitalization ises with the newer variants. stuart: everybody -- i say everybody, almost everybody that i know has been inoculated. they've had the vaccine, they've had the booster, and almost are everyone i know has had covid after they've had the vaccine and sometimes they've had it again. it just -- you can't avoid this thing. >> our message should be immunity works. you should feel good about it and, you know, the idea that somehow you're immune but you're very susceptible and we have these thresholds that do not consider hospitalizations for covid, just case counts in the community, those are the wrong metrics. we've exceeded all those metrics every year with the common cold viruses. stuart: that's extraordinary. let me move on. a new report says 39 of the top 50 medical schools in the country have some form of crt as

part of their curriculum. now, this includes attend thing conferences on racism and equity, programs that encourage anti-racist attitudes and assessing each student's implicit bias. all right. you're a doctor, you're a professor. what do you make of this? >> well, i think it's a lot of lip service is. if you talk to the students, they're focused on medicine and taking care of patients, and hay see through a lot of this. they're trying to pass their board exams. there's a lot of competition for medical school curriculums, and right now the squeak by wheel gets the oil, and those who think this is important are jamming it in there. i do think it's ironic because medical centers in the united states,es ironically, will not take care of poor people if they don't qualify for medicaid. they gave the vaccine when the covid vaccine came out to their board members and spouses of hospital administrators and low risk young people who had natural immunity, really shunting it away from low income communities, and they are hoarding tests that are needed for poor populations hard high

risk in the community. instead, they are hoarding tests for low risk college students and other immune people. stuart: do you think there is some inherent bias in treatment during the pandemic? >> well, look, there's always, i think, inherent biases when anybody has any interaction, but these are things where it, you know, you can only teach so much in the classroom, and i i think the students are recognizing that. they want to take care of patients, they want to learn about these things, but they want to learn about it from their mentors in the hospital and and not through a textbook. stuart: we just don't want to see medical treatment depend upon your race or the color of your skin. i mean, we simply don't want that. >> we saw that with monoclonal antibodies. if you remember, there was an edict that that they were to prioritize those in minority communities. stuart: well, anyway, i'm going to leave it right there. dr. marty makary, thank you very much for joining us, sir. >> thanks, stu. stuart: yes, sir.

the federal government offering another free round of at-home covid tests. lauren: round free, you can get eight free tests funded by the american rescue plan. this is the white house trying to stay ahead of game to make sure you have the tests should you need it. we've seen it come in cycles and and waves, so they want to make sure everyone has a test. stuart: got it. we did get some industrial production numbers. lauren: much, much stronger hand expected, up 1.1% in april. the expectation was .5%. at the same time, how much is that running, the capacity utilization rate? the highest since 2018 at 79%. stuart: you brought us the home depoe numbers and now industrial production numbers suggesting that the economy's not slowing down much at all. lauren: what do you make of all of it? investors don't know. investors are positive today,

you have the dow up 400 points concern. stuart: and how are we going to close? lauren: no idea. [laughter] stuart: the opening bell is next for you. ♪ ♪

♪ stuart: all right, the futures point to a nice rally at the opening bell, so come on in, jim lovell, market guy of this tuesday morning. all right, jim, one of our guests earlier said that he thought the market had bottomed last week. have we hit bottom yet? [laughter] >> oh, stuart, i wish i knew. what i do know is the last few trading days and today probably makes it feel like it's the calm after, not before the storm. but the reality is on the ground, you hit many successive peaks in an upward trajectory, so in a bear market you go lower and lower until you find that stable bottom. i don't think we're there yet. all the main pressures remain whether we're talking about russia, inflation, recession, covid, china. i mean, the laundry list is lengthy enough for me to think

that any one of those items on the list could trouble the market losses on any if given day. but from an investment standpoint, it probably doesn't matter as much as headline suggests. what matters most is your timeline, your risk tolerance and your ability to stomach volatility in pursuit of discounted prices and some great sectors and names. stuart: have you recommended to the people who invest with you, have you recommended which industries, which stocks to buy now? >> so we focus on actively managed funds, actively managed e, fs whose managers -- etfs whose managers have clearly been taking advantage of the market's crop in prices with regard to whatever bailiwick they're investing in whether it's multi-national blue chip companies here in the u.s., cherry-picking established foreign markets or on the bond side up and down the duration ladder.

for very nervous investors, this isn't the i'm to pull back with, get yourself sidelined, but it could be time to average your way back into whatever position makes the greatest sense for you. we're not backing down, we're managing through yet another bear market period with more confidence than in prior bear markets given the strength of the truck driver of our economy, the u.s. consumer -- the driver of our economy. stuart: collar cost averaging is where you -- dollar cost averaging is where you put in a regular amount of money many a regular time sequence regardless of whether the market's up or down. just put the money in. >> exactly right. most of what we do in our 401(k) plans. and the net benefit, hopefully, will be wealth-building opportunities down the road. stuart: you've got to be dealing with a lot of nervous people though. [laughter] how do you handle hem? do they call you up on the phone, what's boeing on here? how do you handle it? >> well, one way is showing up

on your show and making sure they're getting good investment advice. and what's always going to be a frenzied and frantic marketplace. we communicate on a daily, weekly, monthly basis with our clients. in the main, we view our business as a service business that relies upon communicating well, even more so than a performance business. and we remind clients their goals likely haven't changed, so we need to stay focused on how we can help them best achieve those goals. stuart: stocks are the place to be. >> stocks, bonds and cash. i like all three asset classes. all three legs are on my stool. stuart: at the moment i've got about 20% in cash. am i doing okay? >> it really depends on your specific -- [laughter] your specific objective. i wouldn't lose sleep over 20% in cash. stuart: well, my objective is to lose the least a amount of money. how's that grab you? >> that grabs me fine rain dandy, and i say -- fine and dandy. leave some powder dry when you

want to go on the offense. smart money move. stuart: jim lowell, thank you very much, we'll see you again soon. they're clapping, they're cheering, they're going to ring that bell, and we're going to open the market tuesday, may 17th. should be a strong opening by the looks of it. up 400 for the dow industrials. here we go, we've got 5 seconds to go. if you're hoping for a bounce, well, this may be it, but who knows how this thing's going to close out today. we just don't know. we're off, we're running, and the dow is already up 38 of -- 386 points, 380. the vast majority the dow 30, 26 the up at this moment, and the dow's up 400 points. that would be 1.2%, by the way. the s&p 500 a better gain percentage wise, 1.5% higher. the nasdaq is up over 2%, 245 points. so show me big tech. heavy got to be doing well. yes, they are. microsoft up $5. just look on the right-hand side

there, microsoft up merely 2%, apple 20 -- 2%. amazon, same story. meta platforms, a small gain, 1.1%, but they're all up, and the dow is now up 440 in the first few seconds. walmart, my goodness me, down nearly 8%. susan's here. susan: good morning to you. well, the terrible quarter. did you look through the numbers this morning? well, a reason why the stock is down. the biggest miss on profits since 1992. sales came in better for the quarter, but they are raising their sales outlook for this year just by a little bit. they expect it to go up by around 4%. profit, hoe, will drop for the paris time in a long time in 2022 -- first time -- and they're blaming inflation. they also said they overhired in the first quarter because they didn't expect that wormers would be coming back as quickly as they did from covid. e-commerce not growing quickly

and some households are starting to feel the higher inflation, near 40-year highs. stuart: and i think that drop for walmart, that takes 60 points off the dow. >> i think it's probably closer to 70 now. $11 down, yeah. stuart: going the other way was home depot, spectacular. >> record first quarter sales, profit at $4 billion in three months. isn't that incredible? and they're raising full-year's guidance because americans, according to them, will continue to put money and invest into home improvement. and i think it's so impressive given the tough last year. we're in a red hot boom in real estate, and people continue to plow money into making their homes better. and, by the way, they're spending in the pace of higher interest rates and higher prices. you don't hear home depot blaming inflation, right? i think there's got to be some management calculus that has to go into some of these earnings report. which management team is doing better and foreseeing the future. stuart: so far it seems like

consumers are still spending money despite higher prices. susan: that is correct. stuart: i you've got elon musk says his takeover deal can't move forward with twitter. it's not the end of the story. [laughter] susan: no, it's not. aren't you so happy you missed this soap opera for the last, what, 5, 6, 7, days? stuart: i missed it. susan: i didn't get enough sleep last night because i was listening to that podcast which was 90 minutes long. elon musk was on, surprise guest, and he says, look, you know, it's not out of the question that a twitter deal still be done at a lower price, so lore than $5 40. he's saying that -- 54.20. his offer was based on sec filings being accurate. yesterday twitter's ceo failed to show proof, so this deal not move forward until he does. i know you're very tight with your wallet there, stu. [laughter] if you're buying a company for

$44 billion, shouldn't you have done your due diligence and research beforehand? report is not new. even on thatted podcast he says does anybody have the experience where less than 5% -- that means 95% of all accounts of twitter are operated by real people. have you ever had that experience? i haven't. he suspects that number is closer to probably 20% or so for pick accounts on twitter. stuart: he's saying twitter is not worth $54 a share. susan: yes. [laughter] that's a very good -- stuart: show me the metric, show me the real numbers, and then i'll figure out the bid. susan: but again, he knew this. we've known this for years. he waived his right -- lauren: when he tried to get this deal through. so i wonder -- susan: well, i don't think he waived his rights to due diligence because as a fiduciary and given that he's pledging $21 billion of his own wealth, by the way, which is tied up and correlated and collateralized by

tesla stock, that's why tesla's stock usually goes up when we have doubts over this twitter deal. i would say, look, that billion dollar break-up fee, he can show cause and possibly walk away, although i have to say former sec chairs say it's very, very rare for anybody to walk away from a deal without having to pay a break-up fee. even if he does pay that, if he gets the property for 10 billion, 15 billion cheaper which a lot of his backers and financiers say it's not worth $54.20, so is that considered a deal if he pays the billion, gets it for $15 billion less? stuart: i think he's a very smart guy. susan: he's a very smart guy. stuart: get 15 billion off your purchase price, not bad. susan: do you see value in twitter? in a social media company? stuart: well, he's such a good manager, he thinks hex fix this -- he can fix this badly-run company.

susan: he takes it private now, he relists it, people will bid it up in the private market. history has shown the town squares will move once it loses its legitimacy and popularity. you've seen that with myspace throughout history. do you think he can maybe somehow rejig twitter into become a hot place to be -- stuart: that's another rhetorical question. what you're really saying is you think he can gussi it up, take it public again and make profit. susan: i think there's always going to be an elon musk premium. people will invest along with him no matter what he buys into, right in do you think -- i don't know if bitter's necessarily going to be -- twitter's necessarily going to be around for the next 15-20 years. that's what i'm saying. stuart: i wonder if i can outlive -- [laughter] susan: i think you absolutely will. stuart: dow winners, length side of your -- left-hand side of your screen, home depot, nike, jpmorgan and visa.

s&p 500 winners, take two interactive. back from four days' ray -- vacation, i can read the prompter. susan: isn't that great? [laughter] stuart: nasdaq winners, zoom, nvidia. glad to see them up there as well. now, the 10-year treasury yield at 2.95%. the price of gold, 1824 the per ounce. bitcoin, 30 grand. oil, ah, we haven't mentioned yet so far. look at that, $114 per barrel. it was the $107 before i went away, now it's 114. nat gas moving up to 8.33 per million british thermal units. gasoline, here's the headline of the day, $4.5 on average. and look at this, the average for regular in california is now $6.02 per gallon. lauren: i don't know how they do that.

stuart: neither do i. they should move. [laughter] good-bye, boulder. the colorado city is out as best city to live in america. we'll tell you which southern city gets the honor this year. parents in wisconsin threatening to sue after one school district -- [laughter] charged their kids with sexual harassment for using the wrong gender pronouns. we've got that story for you. it was a pretty simple, straight straightforward question there from peter doocy. roll tape. >> reporter: how does raising taxes on corporations lower cost of gas, food for everyday americans? stuart: that was the question, but the new white house press secretary, i'm going to say she bungled the answer. we have reaction from larry kudlow after this. ♪ ♪

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stuart: ah, the fight between jeff bezos, amazon guy, and the white house really heating up. tell me the latest, lauren. lauren: another billionaire just got political on twitter, right? last i checked, doesn't he own "the washington post"? stuart: he does. [laughter] lauren: that is not a conservative newspaper. stuart: no, not. lauren: and here's the statement, the tweet with: look, a twirl the. this is the white house statement, and he includes it about what i recently tweeted. they understandably want to muddy the topic. they know inflation hurts, but unions aren't causing inflation and neither are wealthy people. remember, the administration tried their best to add another $3.5 trillion to federal spending. they failed. but they had succeeded, inflation would be even higher than it is, and it's the already at a 40-year high. he's saying the white house doesn't understand it's their policies, their loose spending

that's causing inflation. and then the new press secretary doubled down on that. >> it's not a huge mystery why one of the wealthiest individual on earth, right, opposes an economic agenda that is for the middle class, that cuts some of the biggest costs families face fights inflation for the long haul, right? and that's what we're talking about. that's why we're talking about lowering inflation. lauren: what do you say to this? i mean, i think they're sick of being a punching bag, but it's interesting that jeff bezos and elon musk are now criticizing some of the policies heir seeing from the -- they're seeing from the white house. stuart: the new white house press secretary was stump ised on her first day. listen to the back and forth with fox's peter doocy. roll it. >> reporter: how does raising taxes on corporations lower the cost of gas, the cost of a used car, the cost of food for everyday americans? >> so, look, i think we encourage hose who have done

very well, right, especially those who care about climate change to support a fairer tax code that doesn't change -- that doesn't charge manufacturers, workers, cops, builders a higher percentage of their earnings, that the most fortunate people many our nation and not let that stand in the way of reducing energy costs and fighting this existential problem. stuart: confused? [laughter] join the club. larry kudlow joins us right now. ooh i've got to -- let me express opinion, may i do that, larry, before you launch? [laughter] this administration is clueless on inflation. that's mien opinion. how about you? [laughter] >> well, you've got a point there, stu. [laughter] you might want to help her out. you might want to help her out on the briefing. although in truth, you know, look, press secretaries are only add -- as good as the staff work behind, and that's a big problem because they are in denial that their policies have caused inflation. look, if you're losing jeff

bezos and you're losing "the washington post" editorial page, both of which have happened in the last week, and you're a left-wing, dem. contact presidency, a woke presidency, you've got a problem. you've got a big problem. so politically heavy got a big problem. -- they've got a big problem. i'm more interested in the economics of this because, frankly, the corporate tax cut, trump's corporate tax cut, remember, lowering the rate from 35 to 21, full cash expensing for machinery and equipment and repatriation at low tax rates was a huge success. and two points here. number one, it is exactly middle class, blue collar, you know, average working families who were the biggest beneficiaries, the numbers are very clear. they made $5,000 extra after tax income just the first couple of

years. off the tax cuts. so that's point number one. point number two, business informs ifment -- investment surged mightily, up 14% and change. i think the s&p 500 companies are up 20%. business investment does what? it creates productivity. output per hour. that is counter-inflationary. that is a anti-inflationary. that means wage increases are paid for by higher output per hour called productivity. and finally, and i guess this is biden thing, you know what? offshore companies or companies with cash offshore because of tax, lower taxes offshore, hay brought their money back home. nearly $2 trillion of offshore cash was repatriated back home at lower tax rate. so those who weren't paying taxes now are paying taxes. i would think that's just what the bidens want. so this program was successful.

the revenues poured in, the middle class was the biggest beneficiary, and anti-inflation productivity increases were the order of the cay. that's what happened. i mean, this was a wonderful thing. stuart: yes. >> who in their right mind would oppose it? stuart: that was then, this is now. clueless administration on inflation which probably gets worse. i want you to repeat all you've just told us this afternoon at 4:00 on fox business, because -- [laughter] that made a lot of sense to me, larry. no wonder you've got a program right there. you're pretty good. [laughter] 4:00 eastern here on fox business, the man himself, mr. kudlow. see you later, larry. all right. here's what we have in the next couple of hours. it's not just the cost of gas and groceries, your phone bill's going up too. which careerer -- carriers are raising prices and by how much. my next guest is calling for an operation warp speed for energy. what does that mean? i'll ask louisiana senator bill

cassidy. it's his idea. ♪ hurts so good. ♪ come on, baby, make it hurt so good. ♪ sometimes love don't feel like it should -- ♪ you make it hurt so good ♪♪

stuart: well, will you look at

this? the price of gas went up another 4 cents overnight. your national average is now $4.52, the highest ever recorded. it's up about $1.50 from one year ago. the price of diesel, there's another new high, $5.57 per gallon. let's bring in senator bill cassidy, republican from louisiana. the senator wants an operation warp speed for energy. mr. senator, what exactly does that mean? more drill thing? -- drilling? more pipelines? what is it? >> yeah, it's more of everything. right now we know the reason that we don't have energy supply is that there's all this red tape that's trying up -- tying up the development of new energy. that could be oil and gas, it could be wind and solar. the federal agencies are just so constipated -- [laughter] they just can't get their act together. let's do what we did with the vaccine. let's make it so that we can, we can, you know, do in 10 months what hay thought would take 2-10 years another, cothat with

energy, bring down the price at the pump, on the fuel bills. iewr stuart why do you think that the administration will not do any of the above? >> yeah, because they care more about their environmental left who typically live a comfortable life, have an adequate income, can afford an welcome trick vehicle than they do about the woman at her kitchen table, she and her husband wondering how to pay hair bills, can't9 afford their gasoline. they care more about their left than they do about that family. stuart: louisiana is an energy sate. from your perspective, do you think energy price inflation will continue to get worse? can you see $5 gas as as a national average soon? >> i can absolutely see that because i think there's people in the administration who want that. they think the more you pay for gasoline, the more likely people will buy electric vehicles. what they don't realize is that most american families cannot afford an electric vehicle. they're driving a 15-year-old truck because that's all they can afford.

and you're punishing that family, again, to make your conscience feel better about the fact that china's polluting the air so much. this administration needs to care more about that family and operation warp speed than they do about the environmental left. stuart: it's a political catastrophe though, inflation at this level going into an election in six months. i would have thought that was a real catastrophe. last word to you, sir. >> yeah, it is a catastrophe. we can speak about it politically going into election season, i prefer to fixate on that family. if we take care of that family, our country does well. and by the way, it's good politics too. if we don't concern ourselves with aha family, our country doesn't do well. it's bad politics for them, but i'd rather take care of them. stuart: yes, sir. senate bill cassidy, thanks for joining us. >> see you, stu. stuart: new episode of "american built" airs tonight, 8 p.m. eastern on fox business prime.

here's a quick look at our latest episode. the puzzle inside a puzzle. >> 180 degrees opposite what you would see in a conventional vehicle. stuart: a story of ground-breaking engineering. >> accomplishing something that people thought was impossible. stuart: backroom feuds -- >> and they were butting heads and arguing. stuart: -- and heart-stopping drama. it's the story of the apollo lunar module tonight on "american built." still ahead moments from now, pennsylvania senate candidate cath barnett, charles payne, chad wolf -- cath barnett. the 10:00 hour is next. ♪ let's get nuts ♪♪ as a main street bank, pnc has helped over 7 million kids develop their passion for learning through our grow up great initiative.

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>> it is 10:00 eastern. the dow industrials, are up 300 points, the nasdaq is up 200 points. pretty good rally. the 10 year treasury yield approaching 3% but it is not there yet. 2.963 pre-sent.

before i went away it was $107 a barrel. now it is $115 a barrel. gas and diesel prices don't spread it up. the 10 year treasury, don't know what that was. i like this read on homebuilder sentiment to. charles: the number took a steep drop, june 2020. evidence the housing market is slowing, how much is the question. is a recession proof? homes are less affordable and material costs are up and mortgage rates. neil: a good idea to bring in jerry howard, ceo of the national association of homebuilders is with us now. steep drop, what does that tell you about the homebuilding industry? >> we are very -- we are facing

a perfect storm here and increased cost of construction, supply chain is broken. inflation bringing up interest rates for buyers, builders at the front end of the transaction. we are increasing concern about inflation, more than a one in 3 chance that we will have a recession in the coming months. stuart: if you can get it built you can definitely sell it. would that be accurate? >> it is for now but we are seeing more potential buyers walk away and say they can't afford to pay these prices. we had escalator causes in the contract, builders eating the increased costs but now we are at a point we can't do that anymore. stuart: do you see any bidding wars were home you just build? is that days gone by? >> in some markets, we are seeing things down.

stuart: can you quantify how much inflation leads to the price of a new home? >> cost of construction, 21%. the cost of regulatory compliance is up 25% on a national average, indicative of the impact of inflation. when you talk about increasing mortgage rates that has a significant impact and once you get over a 5% mortgage rate you see a decline in demand. stuart: our homebuilders in trouble? >> i don't want to say they are in trouble, we are becoming more cautious, watching what happens. we sent a letter to the white house signed by 10,000 homebuilders nationwide offering suggestions how they could forestall a recession in the homebuilding sector.

we haven't gotten a response. stuart: jerry howard, thanks for being with us. now this. the two richest people in the world are americans in both taking aim at president biden, start with jeff baize owes, he doesn't think biden's plan to spend trillions to beat inflation makes much sense. he denounced his tax and spend bonanza as disinformation and bezos is right. what is the answer from the white house? billionaires are standing in the way of helping middle-class people. amazon has done more for wages, paid leave and college tuition and the president's entire program so far. elon musk laid into the president on policy and performance. who loads the president's teleprompter? the real president is that person. he said if the government keeps printing money, inflation will

get worse, and the us might follow the path of venezuela, no one says musk is restrained, the administration's response to inflation and billionaire criticism is political. staking out a position that encourages jealousy and envy of wealth and will do nothing to bring down inflation. it is an insult. musk has created the world's best electric car company and much else, baize o's created amazon and much else. millions of people are employed in these enterprises which put american technology front and center in this world. they don't deserve snarky comments, they deserve respect to. todd pyro will be with me for the next hour. >> don't have to beat me, hear me out on this, musk doesn't give two musks what anybody thinks about him. that is so refreshing in this day and age. it get some clarity from the

most financially successful person in our world, let's not think that elon musk is going to be filling up the prime time hours and fox news anytime soon. is not a conservative. his company tesla is driving people to get abortions if they want them in light of what is going on with roe v wade. he is no right winger. he calls it like he sees it and this is how he sees it. showing the biden administration never created one job, they are job killers, elon musk is a job creator. as for basis two things come to mind, this is the guy that owns the washington post and let's not forget the washington post has propped up president biden, if they are walking back, that is a huge story and that bodes horribly for the democrats come the midterms but also when pressed on this the white house answer is but taxes, the rich people don't pay enough in taxes, that is a non sequitur,

you ask how you're doing today and i recite the alphabet. it is a non sequitur, doesn't have anything to do with anything, an old trope democrats lean on when they have nothing else. but rich people. it is not work, the american people don't buy it. stuart: i am hearing the same message the 50 years i lived in america, tax it. >> nothing to do with inflation. stuart: the trial of hillary clinton's former campaign lawyer michael sussman got underway an hour ago. tell me, breakthrough this, what does that mean for hillary? >> we had a gentleman on earlier this morning and asked him that question and asked a number of guests this question. is unclear at this point and anybody who tells you otherwise is lying to you. there is so much that needs to come out of this trial not the least of which is the result but we need to answer is this the first of many of these

trials are is this the end of it? if it is the end of the road hillary is off scott free, she will be walking in the woods with her wine like she was a couple years ago. if more heads role on this, there is a potential that hillary clinton could be in the crosshairs but if you add up the sum total of everything there is no indication hillary is going to be in trouble so in all likelihood if i were a betting man i say hillary walks away from this unscathed like she often does. stuart: leavitt had that. >> i know you are disappointed. stuart: you are here for the our. back to the market, dow is up 300 points, solid gain for the nasdaq. lauren is here for the movers. lauren: viacom, cvs, berkshire hathaway revealing an 11.3% stake so he is now the biggest

shareholder and that is considered a stamp of approval. blue one advanced micro devices, i have seen a lot of them, up 5%. lauren: they have a one hundred 40 price target, by good companies when they are down and they are down this year, they like to deal with broken pcs. stuart: what else do we have? what have we got? lauren: they just gave up a 5% gain. don't know if you know them, they are very popular, they just went public in november and came out with earnings and profitable. a new company that is profitable, sales rose 70% and don't expect lockdowns in china to impact their sales but they are flat right now after a nice 5% gain moments ago. stuart: something is in a clickable in this market. goldman sachs giving managers a new perk that apparently is

common in the tech industry. >> this is shocking. this report isn't about the latest tech start, it is about goldman sachs, the investment can't giving top managers the ability to take as much vacation time as they want. this isn't for the low level, the millennial, who needs all these special deals, this is a perk for managing directors and partners, the most senior and difficult to achieve ranks at goldman. the folks with gray hair like you, similar to clickable vacation policies including ethics and linked in but i think this is a seachange because these individuals came up working 25 hours a day for twee 8 days we, not used to the newfangled touchy-feely stuff and do what they want. it was career suicide if they do but it is available. stuart: they won't do it. they are workaholics anyway. >> the next generation, i am going to take that.

work life balance, that's not embedded in the dna of that world, don't know what will happen 20 years from now when we are interviewing these kids and i -- on my twee 8 weeks of vacation. stuart: i wonder if i'm around to see that. now this. karen jean-pierre stumped on her first day, listen to peter doocy's question whether raising corporate taxes would lower inflation. >> how does raising taxes on corporations lower the cost of gas, the cost of food for every day americans? >> we encourage those who have done very well especially those who care about climate change, to support a fair tax code that doesn't change. stuart: the former press secretary of donald trump, kayleigh mcenany, will assess that response to corporate taxes.

it is primary day in pennsylvania and there's a virtual 3-way tie in the senate race. up next republican candidate kathy barnett. one new york city, i'm sorry. one new city was just crowned the best place to live in america. which city took the top spot. the second hour of varney roles right along. ♪♪

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that's powerful. couldn't said it better myself. you just did. unbeatable internet from xfinity. made to do anything so you can do anything. whoa. first psoriasis, then psoriatic arthritis. even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. stuart: that is las vegas. it is going to be 99 ° later

on, sunny and hot. if you like the music follow us on spotif a mac. it is 10:16 eastern time, dow is up 300 points, nasdaq is up 186. i will call anna good rally this tuesday morning. look at uber implanting a clean energy push. they are going electric. >> more or less. uber lodging a server that will allow users to request a rise in electric vehicles, instead of a regular car you get an electric car called uber comfort electric they being in la, san diego and dubai, featuring electronic vehicles from tesla and polestar a year after uber announced its partnership with hertz to make 50,000 tesla's available to rent for next year. a unit of volvo signed an agreement to supply hertz with 65,000 electric cars over the next five years. stuart: thanks very much.

the twitter deal is on ice but elon musk says the deal can be done if the price is right. kelly o'grady has the story. what is the latest? >> reporter: there are two narratives, elon musk, the deal is on hold, twitter says the transaction is likely to close at $54.20 a share. the platform filing up pulmonary proxy statement ahead of a shareholder vote that normally implies things are full steam ahead in stark contrast to what musk is saying, yesterday engaging in a tweet war over the latter's refusal to dig into the percentage of bots on the plaque from, the billion or tweeting the steel cannot move forward unless the company can prove their public filings are accurate. is this a ploy to renegotiate the price? he left the door open for that possibility. >> making the twitter offer, the truth and accuracy of the filings, those filings are not

accurate, simply -- it is -- you can't pay the same price. >> it is different price it might be a totally viable deal. >> it is not out of the question. >> twitter shares 30% below the deal price and 5% below before musk revealed his stake investors disagree with twitter's outlook, musk waved to do diligence to close the deal faster. he accepted what those public filings said about user data and a source tells me they are evaluating legal resource in case he backs out but where the stock lies shows how much leverage musk has. what other buyer would go near it at this point? stuart: good question. no idea what the outcome of this is. i'm going to bet that musk get it at a lower price. that is my bet. i'm completely wrong. thanks very much. politics.

voting is now underway in pennsylvania's republican senate primary. kathy barnett is a front runner but listen to what she said if things don't go her way. >> if you do not win do you intend to support the republican nominee whoever it is? >> i have no intention of supporting global lists. i believe our country is in trouble and i don't believe we have much longer and i believe when i am done we made it possible where pennsylvanians do not have to hold their nose and vote for the lesser of two evils this time. i don't think we have room to vote for any warm body with an are next to their name. we can do better than that. stuart: look who is here right now. kathy barnett. welcome to the show. good to have you with us. you say. >> thanks for having me. we went don't vote republican if you lose. you are opening the door to the democrats. >> say that question again, i didn't hear you.

we when we ran a soundbite from you suggesting if you lose, you are telling voters don't vote republican. i'm saying that opens the door to democrats, doesn't it? >> i'm not saying that at all. i'm in campaign mode. i believe i am going to win. i stand by the fact that our nation is in trouble and we don't have much room left on this road to keep voting for someone they tell us is more electable and they don't espouse our values. i'm always going to support the republican party. i'm always going to do any and everything i can't i can to make sure the gop is strong and we are winning but what i've also done and want to make clear is this time in pennsylvania we don't have to hold our nose and vote for the lesser of two people because we

think they are more electable. i don't think dr. oz with an unfavorable rating of 60% from his own base does not like him, how does that make him electable in a general when his own base doesn't like him? a lot of people tell us they are more electable than others. at this time i think it is imperative that americans focus on true conservatives, people who espouse their values. stuart: as an outsider looking at this race from the outside it seems to me you are splitting the trump vote, the maga vote that would let mr. mccormick in. >> i can only be myself. i believe our nation is in trouble and time for good people to step up and get engaged in politics like never before and not just allow those who have been -- excuse me --

anointed to be the ones who get to go forward. we can do better and that is what i have done and i've said so many times maga does not belong to donald trump. he coined the word but the people who support the president, we never aligned with donald trump's values. he aligned with our values and so i have only been true to myself and believing this is the greatest nation, that our country is in trouble and needs better people to stand up and reflect our values, not democrat like people who just have an r next to their name, that is what i have done and i am excited to see what pennsylvanians do today. stuart: so are we all, almost a 3 way tie. we have to wait till later to get the results. thank you for being with us today. a new city has been crowned the best place to live. who got the deal?

>> to clear any confusion it is not new york city. new york has a long way to go before it reclaims any top spot. huntsville, alabama ranked number one on us news and world report, got high marks for housing affordability, quality of life along with quality of life along with air quality which was a new category. huntsville topped boulder, colorado for the past two years but dropped to number 4, colorado springs, green bay, san jose, coming in at number 5. california is a little if you know what i mean. stuart: green bay as in green bay wisconsin, home of the packers. you know how cold it gets in the wintertime? >> it gets cold there in the fall but i will say it is an adorable community. people are great, food is

great, i can understand why quality-of-life numbers were high. stuart: you know why i am a packers fan? the ownership of the team is different from everywhere else in the nfl. the town, people actual lyons that. a wonderful thing. >> awesome to watch people working for the people. stuart: it gets me down. the battle between jeff bezos and president biden over inflation has entered a new round. >> not huge mistry why the wealthiest individuals on earth oppose an economic agenda that is for the middle class. stuart: our own edward lawrence will have a full report from the white house shortly. we are playing at high every hour today. $4.52 is the new high price for gasoline, $5.57 is a high for

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stuart: we have a modest rally in progress, dow is up 200, nasdaq up 160. show me caterpillar, up 2%. the board has approved a $15 billion stock buyback. that always works. the inflation battle between jeff beto's and president biden at a new level. edward lawrence has the latest. >> reporter: the feud continues between the white house and jeff baeza us. during the new white house press secretary karine jean-pierre took a shot at baeza's during her first news briefing. >> no huge mistry why one of the wealthiest individuals on earth oppose is an economic agenda for the middle class the

cost the biggest costs, fight inflation for the long haul. >> reporter: normally a huge cheerleader for president biden took exception to a tweet from the president saying if you want to lower inflation make corporations pay their fair share. after an exchange beto's tweeted they know inflation hurts the most, the unions are not the cause of inflation, the administration tried their best to add another $3 trillion in federal spending if they had succeeded inflation would be even higher than it is today and inflation is at a 40 year high. all recent polls mirror watch fox news polling is showing, 67% of registered voters disapprove of how the president's handling inflation. this is telling us when you break down this number, 70% of voters independent voters disapprove of the way the president is handling inflation and that is what you need to win an election, no change in

course from the white house on any of their policies including economic. stuart: the average price for a gallon of gas hit a new record high, it is important, your average for regular is $4.52. look at diesel all the way up to $5.57. scott shelladdy. would you forecast where the price is going on where the price of diesel is going? i say it is up. how far up is it going? >> you could put another $0.50 on both national averages by the end of the summer. i do believe there is an interesting battle between the two making gasoline becomes more profitable they start making much of gasoline but nobody is making diesel, slowly but surely diesel becomes more profitable so you will see one overtake the other all summer but they will both be going in one direction and that is north because the administration i don't know if you have seen

your kids or grandkids play this game but it is one game of whack a mole, we have a gas problem hit the mall, inflation problem hit the mall, food a problem, all the other bulls are popping up, not getting in front of everything but whacking the moles on the head while the others are popping out of those holes so they are not going to get anything done as long as you are playing from behind. stuart: the white house constantly uses a political approach to inflation coming beating up on billionaires, oil companies, meatpacking companies, always excusing and making up political excuse never coming up with an economic plan. they are clueless about inflation it seems to me. >> i agree with you. i saw your show earlier, they -- they don't understand it. if they say build back better would be a good thing now on

top of the inflation we've seen, this inflation will be around. it will not go away, 6% to 8% when it comes to that ppi for a while. maybe we have a recession, shallow one but a lot longer than others believe. i've been saying that on my own show and i think elon musk would agree with me. he put out something, in a recession for 18 months if we are not in one already so we don't have a grasp on what is causing these problems. it is not that hard. we've been talking about diesel fuel all spring and summer. that's the key because that is the lifeblood, the oxygen for supply chain around the world, trucks, planes, ships, they all need diesel and as long as that keeps going up in price which it is going to it will cancel out rate hikes the fed is doing to get in front of inflation, one more big game of whack a mole. stuart: it is anecdotal but you walk into a supermarket and look at the expression on

people's faces when they see their bill from the checkout line. they are shocked. last word to you. >> that the other crisis, we are going to have a food problem, we are seeing unrest like we did with the arab spring and i am from des moines, iowa, greengrocer is based out of, they are putting armed guards in their grocery stores. how is that? stuart: armed guards to guard what? >> food. we when you're kidding me. >> the put out a story they would not be surprised if they saw armed guards in trucks hauling food because in sri lanka they are burning down politicians houses and in iran marching through the streets because they took their food subsidies, death to khamenei in iran. it is popping up. food prices, fuel prices all coming home to roost and we are playing one big game of whack a mole. stuart: but will and television

don't leave the best till last. don't bury the lead. armed guards in iowa for food. scott shelladdy. now we have a mayor of new york city outlining his vision for the future of birth certificates and deeds. i know this one. >> i may need to throw on a cow jacket. he had the lead of the day. i got to deal with eric adams, new york city mayor, using block chain to serve birth certificates and other documents is the way of the future, backers of the idea argue that story, 1-of-a-kind documents into digital leisure, with costs and fraud and cook county, illinois, experimented with using black chains. and bitcoin and the theory an effort to one of the mayor of

miami, with the drop in bitcoin -- stuart: afraid that is true. abbott, and the fda, taking the first steps to reopen the closed baby formula plant. we will tell you when that formula might hit the shelves. 200,000 encounters at the southern border in april alone, highest monthly total ever. when we lift title 42, chad wolf coming up on that.

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stuart: we are one hours 11 minutes into the trading session, have a look at pfizer,

the fda has authorized the booster, ages 5 to 11. look at coin base, 4 and one 12:45%. i wouldn't take that is a negative given the crypto situation but investors taking it as a positive up 4%. abbott and the sca taking steps to reopen the closed baby formula plant. a good step but when can we expect it back on the shelves. >> let's be happy we have gotten this far but entering an agreement with the fda lays out required steps to resume production into maintain its baby formula facility after the fda confirms abbott met the initial requirements the company could restart the site from that point. it will take another 6 to 8 weeks. the fda will investigate why. this is the big take away. why a detailed whistleblower

report about alleged safety lapses came out in october but the fda didn't send inspectors to the facility until january. it is may. we lost a lot of time and created a lot of unnecessary panic and moms and parents unnecessary bureaucracy at its worst. stuart: the the but it we are going to be waiting maybe months for new baby formula back on the shelves but there is one company that may help fill this time. who is going to fill the gap? >> reporter: this is a great story of opportunity. the company is called by hard and it launched its baby formula in march. during the national shortage we learned about the fragility of the baby formula supply chain. only four manufacturers make up all the market. the largest share of 40%. it is very expensive and difficult to enter the market, process and conditions must meet sanitation and nutrition

standards but even in the space of these hurdles, the founders pursued develop it of baby formula for five years acquiring the manufacturing facility in pennsylvania, completed clinical trials and the first formula maker in 15 years to be registered with the fda. when i talked to the ceo yesterday i asked what did he make of this shortage? >> it is unfathomable. what we didn't realize, 5 years later, how important the decision to vertically integrate and own our supply chain would be in enabling us to be part of a solution to this national crisis. >> reporter: there is huge demand, they build direct to consumer, it took on 3 months worth of customers, now they had to temporarily pause, and

meeting demand and pay some scale. they accept new customers. blue when i call that a positive. and inflation affects various industries. i will deal how it affects farmers. a cotton farmer in mississippi. where does inflation hit you the hardest? i'm inclined to say how about diesel. >> a big inflationary issue on our farm today, twice as much for a gallon of fuel a year ago, fertilizer is another big one, 3 times the prices we did. stuart: can you make a profit on your farm?

>> the prices of cotton, and performed, don't relate to the prices that we should be making good. it is so much higher with fuel plus as much, fertilizer 3 times as much. that makes our margins stay the same or smaller if we were at lower prices. those higher prices are making price of food higher for the consumer in the supermarket. stuart: one of our guests a few moments ago said that in des moines, iowa, they are posting armed guards to guard food. can you see a getting to that point? that seems dramatic and extreme. >> it is kind of scary, lots of

problems, there's another problem and the high price of fuel, and fertilizers, the input that producers have to grow certain crops make it hard to grow other crops. we are looking at a time where the producers are trying to figure out what to grow to make a profit and stay sustainable in the operation and what we should do to find plenty of food for the consumer. some producers put less fertilizer out because the price is too high unless fertilizer means less crop in the fields, a direct line to the high price of fertilizer but to lower -- stuart: a huge problem. thank you for explaining it, appreciate that.

next, the pilot shortage getting so bad one pilot says dozens of flights will be canceled every day. we will tell you which airline is sounding the alarm. parents in wisconsin suing the school district after their children were charged with sexual harassment for using the wrong gender pronouns. bill bennett next. ♪♪ you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description.

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stuart: the market still in the green, the dow is up 100, nasdaq 98. a wisconsin school district filed sexual harassment complaint against three middle schoolers for calling a classmate by the wrong pronoun. parents are threatening to sue. bill bennett, good friend of the show joins us now, your shaking your head. i find this hard to believe, sexual harassment charges because they didn't use the right pronoun. explain please. >> maybe there will be armed guards to enforce the pronoun,

borrow them from the food store. this is ridiculous, this is the rigidity of rules being posed on the schools by somebody trying to redesign what schools do. instead of rules, have principles. don't make fun of kids who are different, don't bully children, don't bully anybody, have respect for other people but this rigid enforcement, what i read, these kids use the word they as opposed to the preferred pronoun and so sexual harassment, this is just nuts and explains the exodus of a lot of people from public schools. be when i don't know how young kids are supposed to understand the concept of they as opposed to he or she. this is entirely misplaced. i would have thought. >> absolutely. by the way what about math and reading in science and doing

the basics. this is what people want schools to do, not to enforce speech codes which are cumbersome, hard for kids to understand. we are talking about 12-year-olds, just going to say what comes to their mind, to sue them for sexual harassment is crazy but we live in crazy times. the world is loose right now. stuart: let's go on to colleges. new data shows the likelihood of attending a 4-year school saying from 71% two years ago to 51%. fewer students going back to college. undergraduate enrollment down 3% from last year. are the colleges in real trouble here? >> they may be. i wrote about call is college worth it and the answer for a lot of people is no. it is an emphatic yes but for many it is no.

they end up majoring in some liberal arts subject. that's what i did. i majored in philosophy. got very lucky in my job in my career but the world was different than. you graduate with a degree of little practical use, you owe 50, 80, 120, $200,000. what was the point? the word is getting back. if you graduate from high school, enter an employment job, a skills training job to be a welder make $150,000 a year and other things so the cost of college but the value of a college degree is diminishing in a lot of places and that word is getting back. i think this is a good thing. a very good thing because i think a lot of colleges are missing up kids minds, their attitudes towards america,

their attitudes towards work, sooner a lot of kids get in the workforce the better off they will be. stuart: the voice of reason, the man himself, see you again soon. still ahead, kayleigh mcenany, charles payne, morgan ortagus, chad wolf, the administration is clueless on inflation. it is our most serious economic problem at the biden team does not know how to deal with it. that is "my take" and you will hear it next. ♪♪

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>> people deciding to pay a bill or eat. i think it will be that issue that impact the candidates. >> we are in recovery mode. not a bear market rallied. rally. >> you go lower and lower till you find a stable bottom. don't think we are there yet. all the pressures reaming whether we are talking russia, inflation, recession, china.

>> if you are losing jeff baize us and the washington post editorial page, both of those happen, your left-wing democratic presidency, woke presidency, you've got aig problem. >> builders are eating increased costs but we can't do that anymore. ♪♪ stuart: what is the music here? dancing in the moonlight. let's move on. 11:00 eastern time, tuesday may 17th. the market showing some green, the dow is up 200, nasdaq up 123. big tech mostly in the green, microsoft, apple, alphabet, meta on the upside, the 10 year treasury yield. has it hit 3%?

it is 2. 95%. bitcoin at $30,000 a coin. just above 30 grand. now this. the administration is clueless on inflation. our most serious economic problem and the biden team does not know how to deal with it, the plan is entirely political, not an economic plan. it is a series of hits on political targets, big oil, big business, billionaires or vote buying, spending trillions which they say will lower costs for working people. what does that do for high prices, those prices hurt the very people democrats say they are trying to help. senator warren and sanders leading the charge, amazing the far left is taking control of the entire democrat party. bernie reachedes back 50 years to the good old days of the

1970s. he wants price controls. senator warren wants a windfall profit tax on oil companies as if that will raise energy production. a new high, $4.52 on average, look at diesel, $5.57. it is $7 a gallon in the northeast. this is the direct result of biden's more on fossil fuels no matter what the biden team says the democrat party is run by the climate crowd so energy price inflation keeps churning away, raising prices throughout the economy. a political disaster for the democrats, inflation is what everybody is talking about, you can see it, you can feel it every day and the administration, seems to be more like 1979. third hour of varney roles on. ♪♪

stuart: it is tuesday morning. kayleigh mcenany, the administration have any real clue? any real idea how to tackle inflation? >> they call about the administration, there's a link between spending exorbitant amounts of money and inflation. if they had any idea how to tackle inflation they would understand the problem, should have been identified long ago for transitory when calling a transitory over and over again there was polling brought to president biden by internal pollsters early in the presidency, inflation is on the rise, get a grip and he didn't do it. she went and called it transitory which is not taking the problem seriously. stuart: that is a year ago at least. early warnings, but former treasury secretary saying spend this money and get inflation but didn't do anything about

it. >> pollsters were saying people care about this. immigration as well. to dismiss concerns by the american people, as has been done one too many times, tragedy of the delay treadmill, we have seen before. stuart: i was fascinated with peter doocy who asked what has raising corporate taxes got to do with getting inflation under control and her answer was all over the place, she fumbled her answer, you saw it. >> she was pressed 3 times by peter doocy, substantive question, president tweeted about it, it was her first briefing, got to give her a break on that but you've got to have an answer, good job on peter holding rates accountable. stuart: remember your first time? >> i was crying in my office i was so nervous, said a lot of

prayers. we when you told us that before, were you in tears before you went to the podium? >> was in tears, got my appearance on speakerphone, prayed by myself, and went and did the briefing. stuart: how did it go? >> it was great. i had the serenity that i had been standing there my whole life so the prayers worked and i'm grateful for that. stuart: we are too. we are going to watch you on outnumbered 12:00 noon eastern on fox news. that is my -- the way i -- my name for your show, outnumbered. one day i will be on it and be ambushed. thanks very much. elon musk says the twitter deal can only move forward on one condition. ashley webster, what is that condition? ashley: good morning. mr. musk says he will not move ahead until he has more clarity on how many twitter accounts are fake.

fewer than 5% of daily active users in the first quarter were bought for spam accounts but musk believes 20% of the accounts or more could indeed be fake or spam, four times what twitter estimates, musk says his offer was based on twitter's sec filings being accurate. meantime twitter has refused to show proof of the metrics saying it involves public and private information that it cannot share but musk says okay, the deal cannot move forward until he gets a full accounting. it is a standoff. stuart: a standoff with the stock price thinking to $37 a share. ashley: maybe that is part of the plan. stuart: back to you shortly. look who is here now passing judgment on musk, charles payne himself. what do you make of the latest backwards and forwards? i think musk gets it for a lower price.

charles: with you one thousand%. he overpaid. here was the first clue, this is my final offer, take it or leave it, we will take it, oh, never negotiated, okay, that was, could have gotten a better deal. stuart: questioning the metrics saying you give me the real numbers. before that was always in his back pocket like i'm going to throw out a number and see what they do. the media tried, twitter, was used to be a $70 stock, they were like this guy has this much, let's block it a little bit but when they said yes he said gosh. then he said okay, ace in the hole, i know these filings can't be real. anyone who is active on twitter knows. these are amazing.

these bots are going to opine on our segment within seconds of us finishing this segment. of the one box are going to comment on you and i? charles: and they will be intelligent, they will be mean-spirited but intriguing. i had a private lunch with jack dorsey, how do they work? still not sure what the answer was because it went over my head absolutely amazing, the bots are going to opine on this segment. stuart: i want to hear that. send some. i don't do twitter. charles: i love it, i have so much fun it if someone is a jerk you block the more don't block them sometimes because they like when you block them. that's too much attention. stuart: i must figure out how to use twitter one day. you've got to talk to me about crypto, just over a trillion dollars has been lost in the crypto market. if they go under, bad news for everyone.

where you are on crypto? >> i opened my first account with coin base last year. i didn't buy, we played bitcoin and 69, i put one hundred grand in the coin base account, it was my goal, 50,000 into bitcoin which was the gold standard, 50,000 into the crappy asked thing i could find. just go forward, you wake up one day worth $50 million. we when you are with me, they are gambling chips. charles: i think bitcoin is legit. i spoke in las vegas over the weekend to a bunch of folks who are bitcoin experts, they ran it down in ways i don't understand from engineering, e-commerce point of view. we know the argument with fiat currency. my office is one door from john stossel who was antigovernment, he was in this early on, he might be a billionaire right now. i have always known the story

and been intrigued by it. i told the crowd this weekend you are too sanguine about government allowing fiat currency to be pushed aside by crypto currency, we will see what happens. other things like when a coins says stable coin just because you say you are stable coin doesn't mean you're stable coin, it was an unmitigated disaster. i've got someone coming on my show to talk about either because that was the one stable coin, it is a gun. stuart: we will be watching you to:00 this afternoon, making money with charles payne. stuart: chief financial officer adam croll warning about doubts about the ev maker's ability to stay and missus will remain in place and what secures more funding, stock is down $2 a share. united airlines raised their current revenue forecast, expecting to have the busiest

summer since before the pandemic began. coming up on the show the pilot shortage has gotten so bad one major airline warning dozens of flights will be canceled every single day. we will tell you about that. mayor of new york adams took his first three paychex in bitcoin and ethereum, putting birth certificates on the block chain. russia launched attacks on ukraine military base less than 10 miles from poland. the full report from kyiv coming up next.

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stuart: russian missiles struck by ukrainian military base 10 miles from the polish border, this comes as finland and sweden look to join nato. trey yingst in kyiv with the war report. >> reporter: a lot of developments as the war in ukraine moves forward, we look for civilians we've met during this conflict. it is early march and the russians are firing artillery shells at a bridge where civilians are evacuated. this group is holding a large white flag. >> it is broken forever and you know hope. >> you can hear behind me shouts as people try to flee the front line, each hours moving as russian forces advance on the ukrainian capital. >> those russian forces never

made it into the capital, they were stopped by the ukrainian army but left in their wake, a trail of death and destruction. as for her, we reconnect through facebook page. she is safe in the netherlands with her family. we speak for the first time in 10 weeks as she recalls the terrifying day we first met. >> they were going to shoot us and my daughter asked me if we will diet will be quickly and to gather and i looked at her and said yes, i think so. >> reporter: after going to the train station in kyiv in the western city of lviv, she had to make another difficult decision, to send her daughters across the border while she stayed in ukraine. as a government employee she couldn't leave without special permission. >> we tried to make it fast, just -- i say goodbye, i will

find you, don't worry and i promise to my children to stay alive no matter what and to find them. >> reporter: she was ultimately able to leave ukraine and reunited with her family in the netherlands, she is teaching english and math to young ukrainian refugees. ashley: vladimir putin says the possibility of finland and sweden joining nato does not pose a direct threat to russia. morgan ortagus with us. i don't believe a word of that, i think it does pose a threat to russia. it would turn the baltics he into a nato ally, that pressures russia, doesn't it? >> that is a fantastic way of looking at it. interesting as we know it wasn't long ago, weeks ago that vladimir putin was threatening finland, sweden or anyone else

joining nato, or anyone taking action in the russian war against ukraine, putin was almost essentially threatening nuclear war over that. he certainly was imposing that kind of opinion on all of us who were watching, weeks ago, very concerned about capabilities. they have one of the largest nuclear arsenals in the world but it is an -- interesting that his rhetoric has completely changed, completely backed off of it. i see it like both russia and the united states were fighting over a girl and we won so putin goes i never wanted her anyway. stuart: interesting analogy. on the serious side, russian soldiers captured in ukraine, some are accusing their commanders of killing their own wounded troops instead of

sending them away for treatment. how do we know what to believe? that could be vicious propaganda. >> if you look historically at how the soviet n, hown, how he treedrehe the ud te esy esifese is pr prusec tprusg meour anmer r wom areenenille ov ed capfinsofsi pde an seple eoe t thgr at no ppenhaen.ssruru n unr unalin.in.. th e th ong onstory stinor st amzizizih h wpor rs wi, ns or anytr hingyt.. they are ponds in whatever the dictator or authoritarian in charge, they are ponds in his game. russians, hard to know these

numbers exactly but looks like they lost 20,000 soldiers already, two months of for by contrast you can look at the wars we fight in afghanistan. i think the final number was around 5000. every life we lost is one life too much and that we honor and respect those lives but we were in conflict in iraq and afghanistan for 20 years, you are seeing 20,000 if that number is accurate and it could be more, in just a matter of months and you see low morality among the troops, not being paid, clearly the logistics arm has been a disaster for the russian military, we have an all volunteer force. i did my navy reserve duty this weekend, putting on that uniform is the honorable lifetime because my country will take care of me should anything happen to me in service to the country. stuart: thanks very much, see you again soon. i liked that analogy, good

stuff. treasury secretary yellen calling on the europeans to do more for ukraine. what does she want them to do? ashley: at a conference in brussels, yemen called on them to help prop up ukraine's economy and to assist with its rebuilding once the war is over. take a listen. >> ukraine will need massive support and private investment for reconstruction and recovery. i sincerely ask all our partners to join us in increasing their financial support to ukraine. our joint efforts are critical to help ensure ukraine's democracy presales over vladimir putin's aggression. ashley: congress has approved $13.6 billion in emergency spending for ukraine and will approve $40 billion worth of aid. yellen who is doing the rounds

in europe says ukraine already lacks the funding to pay soldiers, pensioners and employees to keep its government running. we won give us an update on the evacuations at the steel plant in mariupol. ashley: the regiment that has doggedly defended the steel mill evacuating 260 fighters including some badly wounded to a separatist moscow controlled region. it is unclear whether those wounded would be considered prisoners others -- prisoners of war, an unknown number of troops inside that mill, they are holed up in a maze of underground passengers below the facility trying to hang on, they have endured weeks of russian assaults, military experts put the number of fighters remaining at the plant anywhere from a few hundred to one thousand. the effort to get the mouth goes on. stuart: it does indeed. secretary alejandra mayorkas visited the border this morning.

's visit came as we see numbers and title 42 hasn't been lifted yet. we've got the border report. the plunging cryptos boosting calls for regulation from congress and we will get that next. ♪♪ are forever: love and liberty mutual customizing your car insurance, so you only pay for what you need. if anyone objects to this marriage... (emu squawks) kevin, no! not today. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ we got the house! only pay for what you need. you did! pods handles the driving. pack at your pace. store your things until you're ready. then we deliver to your new home -

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stuart: that escape may, particularly clear view, sunny, 66 degrees. look at the markets. we still have green, the dow is up 200, nasdaq up 200 points, back with the movers. lauren: i would say the hot weather is pretty good for flip-flops, don't you think? stuart: explained that. my daughter put up picture of me in a pair of shorts and flip-flops. >> she was happy to see you. stuart: a report on that.

charles: they are lucky to see the buffet money rolling in, $300 in citigroup, they are down 40% the past year, $40 billion in bank of america, second largest holding after apple, also owns american express. what i find difficult to understand was warren buffett and berkshire picking up $200 in paramount global which used to be viacom, so is this a vote of confidence that it is around and paramount plus has new subs added in the first quarter. stuart: how much did you putting? >> 2.5 billion. >> doesn't have to be buffett himself because his other portfolio managers. stuart: you've got to tell me about apple which is below 150. susan: we had the slide last week which was down 10% last

week. apple is being that against, one of the first investors to call in profits from the subprime mortgage crisis, tied to 602,000 shares of apple worth $30,000, not a huge short against apple. look at the stock in the opposite direction, whatever he thinks we think there are fundamentals and increasing dividends, buffett on so much of it. stuart: $90 billion. ashley: at how many have that kind of money? stuart: apple is down 10%. the acclamation? susan: sales came in better, they are raising sales guidance, a profitable drop for the first time in many years

blaming inflation, wages and over higher in the first quarter because workers are coming back faster from covid. we will last time we checked, home depot, now it is down. susan: it is because of the earnings call looking at the headlines talking inflation. they were a year ago. and a lot of money into home improvement. stuart: inflation will get you. i don't know how -- stuart: thank you very much. let's look at the cryptos. where are we today. bitcoin was at 30 grand, slightly below that, 29-9 is your price. ethereum just about $4,000. scott joins me now, bitcoin investor.

i think you are looking at heavy-handed regulation coming your way after the collapse of lunar. >> the crypto industries in the cross hairs of regulators but sad to see that self-inflicted wound. they laugh at you and they fight you and you win, definitely a step free where they fight us and that is why they are coming at you because the industry is ready with extremely deep pockets and gearing up for that battle. we talk about the ftc, the fed, fdic's, have to be more concerned about. at some point that is the choke point, for the call the crypto companies and exchanges are average individuals, that would be highly problematic. stuart: i don't see that as a medium of exchange.

i can't buy stuff or sell stuff with it and it doesn't seem to be an inflation hedge and is not protecting me from downside moving stocks. what is crypto for? i still look at it as a gambling chip. you are into this but to me it is a gambling chip. >> i disagree. we are going to see it play out much more in the future. it's not an inflation hedge in this area short-term, but rising from $3000-$4000 to $69,000, to say the inflation hedge as far as medium of exchange and stable coins and luna is not stable coin but massive ms. know over to color stable coin, it has fully backed and collateralized by us dollar. $7 billion without even a hiccup, any other industry in

the world to come and ask for $7 billion, that is an equivalent means of exchange especially across borders and other sides of the world. all those cases i fair but we are in that bear market situation where everyone is down, all bad news and everything. stuart: bear market situation. how long does it last and which coins drop out and which coins do well? thanks for joining us. sorry i was negative, but you had good answers to the questions i asked. mayor of new york eric adams promoting the use of block chain to store birth certificates and other important documents. how would this work? ashley: the idea is to store government documents on a digital ledger similar to nfts that cuts down on administrative costs and fraud.

the new york mayor adams calls it the way of the future saying block chain technology could store birth certificates, property deeds and other government documents, other counties in illinois and vermont have been using block chain for property deeds for a number of years. adams also a big fan of crypto currencies and famously converted his first three mayoral paychecks into bitcoin and ethereum but after the crash those investments could be underwater. stuart: i wonder how he feels now. president biden is lifting some trump era restrictions on travel to cuba. we have details for you. despite record high gas prices and airfares more of us are expected to travel over the memorial day weekend, the full report next.

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stuart: we tried to play the beatles at least once a day and that is the beatles song of this day, baby you can drive my car, that is the city of brotherly love, nice day, 73 ° and sunny. aaa predicting an uptick in travel this memorial day despite the inflation. madison allworth, how much more will cost to fly this holiday weekend? >> more than last year even compared to 2019, the average

cost of domestic round-trip, $383, up 34% from 2019 but the demand is still here, whether you fly or drive, and that demand has been travelers, aaa releasing their memorial forecast, 40 million people will travel for the holiday weekend, aaa, 3 million of them will be flying. that is the largest year-over-year growth for a weekend on record. most americans will use their car to get to their destination avoiding high airfare but not avoiding record high gas prices sitting in ohio $4.52 a gallon nationality, typically gasoline is 10% to 15% of a family's travel budget but in experts are worried these prices will

keep further into the budget and into the demand. >> a heavy burden for a lot of americans and they are suffering, people don't have the elasticity in their budgets. we've been selling records for gasoline prices every day for the last two weeks, doesn't seem to be any end insight. >> reporter: no end insight, no end insight for airfare tickets which you love traveling to florida. right now i told you we are at a level we haven't seen since before 2019, prices will go up more. they expect a mystic airfare to go up through june, they think it will peak at $420 for domestic flights so buckle up. if you are ready for travel like i am, you got to be ready to pay a lot more. stuart: i'm not ready. you are all right. i want to bring you that story about the airline, major

airline warning about dozens of daily cancellations because of a pilot shortage. which airline are we talking about it. ashley: alaska airlines, the ceo, i'm not being funny because this isn't funny, he says this month is as he describes choppy as it struggles with the ongoing pilot shortage that is hurting all the airlines to some degree. alaska says of 1200 flights it operates every day the carrier will cancel 50 of them, 4% but to make matters worse since lights are already full, the rebooking options are limited to say the least, the carrier says it should be back to flying a reliable and well staffed operation by july, the airline would have hired 50 pilots, 400 flight attendants and 200 reservation agents. a good time to be a pilot, you're in high demand.

ashley: stuart: the administration is planning to reverse trump era restrictions on cuba like what? ashley: for example the state department says it will remove the current one thousand dollar per quarter limit on family remittances and allowed nonfamily remittance to support independent cuban entrepreneurs, the us will allow scheduled and charter flights to locations beyond have anna. the administration looking to reinstate the cuban family reunification parole program which has a back log of 20,000 applications and increase visa processing. donald trump increased sanctions against cuba which ultimately led to widespread protests by people they are frustrated with shortages, food, power and low salaries as well as the socialist government but now we've done a 180 ° turn and going in the opposite direction.

stuart: why am i not surprised? time to give a sense of the market? for that we show all 30 stocks in the dow industrials, 25 are in the green, the dow is up 200 points. border encounters hit an all-time high in april so what happens when title 42 is lifted next monday? i will ask chad wolf, he's next. you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. new projects means new project managers. you need to hire. i need indeed.

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develop or worsen. serious allergic reactions may occur. watch me. ashley: an extraordinary number, 234,000 migrants encountered at the southern border in april alone, the highest number ever reported for single month. what are you seeing? >> busy busy busy, we've seen airboats going up and down the rio grande river since we have been here. the numbers are shocking on paper, it is not that surprising, day in and day out, we are seeing migrants crossing in great numbers, looking at live pictures from the drone, fox news fly team flying in eagle pass, texas where that has been a hotbed of activity

for illegal crossings recently, groups of 100, 200, 300 coming across the river, 200 screamed across, numbers kept her medically rising ahead of title 42 ending next monday until the judge says otherwise but adding in those april numbers, so far for fiscal year 2022 which began october 1st there have been close to 1.3 million total migrant encounters recorded at the border and 5 months left to go. according to dhs court filings close to 118,000 migrants were released into the us during ri removals and close to 97,000 of those were title 42 expulsions which expire in a matter of days. meantime today the secretary

for homeland security, dhs, alejandro mayorkas is at the southern border, the rio grande valley sector, we can report he has been on ride alongs, he has seen the drugs that have been confiscated coming across the border, we expect formal statements from him later today. ashley: thanks very much indeed. let's bring in chad wolf, former acting dhs secretary. encounters at an all-time high. what happens when we lift title 42 on monday? give us an idea of the numbers we might be seeing. >> let's look at the numbers they reported for the month of april, 97,000 removals under title 42, title viii proceedings. if you look at their title viii numbers for the month

they had 110,000 individuals they released into the country under title viii. when the administration says they're putting individuals in removal proceedings, that is 110,000 folks in removal proceedings released into the united states and only removed in april under title viii which is where are these individuals under title 42 will go once it is lifted they only removed 15,000 in the month of april alone. it tells you what we are up against when you remove title 42 and in this case in april 90, 6000, into title viii you will see about 10 to 11% being actually removed from the country. what that tells you is all those individuals being released into communities across the country, being flown around, at taxpayer expense, fundamentally what it said, this administration has failed in their mission to secure the

border, no deterrent in the system and you see these images you are showing, 200, 300 people coming across, they -- there's no issue with them doing that because there's no consequence. stuart: if it is such chaos when we lift title 42 do you think they will do it? the political situation is so bad i have to believe they will find an excuse to keep title 42 in place. what do you say? >> they hope the court orders them to keep it in place at the end of the day but title 42 is a public health emergency. it is always going to go away, there's always an experience and date. what this administer ration should've been doing is planning that expiration, should have been putting in place other programs and policies in place, we have to take title 42 down at some point because the covid pandemic is going to weaken to a certain extent that we no

longer need this, other measures in place to control the surge of individuals coming across the border illegally. that is what they haven't done. if you look at the plan to control after it goes away, it talks about pricing setting more individuals quicker and faster so what happens? that the demand signal to all these human traffickers and smugglers. they will say we can continue to push people over the border quicker and quicker because you are processing them faster than we ever hoped. stuart: they are coming and they will stay when they get here. that is the bottom line. chad wolf, thank you for being here with your expertise, see you again soon. tuesday trivia question. who wrote the first english dictionary in america? samuel johnson, robert cordray, noah webster, james mary, that's too easy. i know the name of the american dictionary. we will be back after this.

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stuart: i thought this was a pretty good question with a rather easy answer. we just asked, who wrote the first english dictionary in america? samuel johnson, robert cawdry, noah webster, james murray. my guess is webster. what do you say, ash? >> it's my long-lost great, great-grandfather noah, unfortunately not true. i think it is too obvious.

i will go with number one. >> you got it right. >> when i said it. stuart: i knew him as a english guy. answer me this one. impactfulness a correct word in the webster dictionary. impactfulness. >> no. don't think so. stuart: i'm glad we're together on this, ashley. it is very important. see you tomorrow, son. >> you owe me money. >> david asman in for neil. david: i ad a feeling it was samuel johnson. i'm david haas man in for neil cavuto on "coast to coast." there is another billionaire weighing in as well. we'll dig in. gas prices at another record. warnings of