trump,st been great having you all morning. mick mulvaney, thank you so much for being here the morning and thomas hoenig. great conversation, everybody, thank you. that'll do it for us, we will see you tomorrow morning right here on fox business, 6-9 a.m. eastern. let's get right to "varney & company." suh, take it away. stuart: i shall. the most important indicator of the month, everybody's affected by this, so here is the consumer inflation report. in the last month, no change. how about that? but in the last year, consumer prices have gone up 85. you -- 8.5%. you strip out the food and emergency prices, you get the core rate, and that is up 5.9% in the last year. all of this tells us that the rate of price increase is slowing, it also tells us that with the core rate still strong,

inflation will be around for some time to come. now look at the market reaction. terrific, right in the dow industrials will be up over 400 points, and the nasdaq will be up about 300 pointings. that is a very -- points. that is a having solid -- can very solid rally. that's because inflation is moderating, and the market likes it. interest rates coming down. the yield on the 10-year treasury now at 2.73%. it's still below the yield on the 2-year, so you've still got that recession indicate orer in place. but rate's down 2.73 on the 10-year, treasury, security. i got that out. politics, big wins or for trump-backed candidates in tuesday's primaries. tim michaels won in wisconsin by 5 points. leora will levy won a 10-point victory in connecticut, and in washington sate, joe kent -- state, joe kent. it brings the raid -- seems the raid on mar-a-lago galvanized

trump supporters. fbi agents searched melania trump's wardrobe, they took a letter from kim jong un, barack obama and a birthday party dinner menu. today the former president will answer questions about his family's real estate business. the democrats' advantage appears to be slime trump with multiple investigations right before the elections. look at this, this was the entrance to mar-a-lago last night. heavily-armed officers blocking the gate as agents were inside ransacking the home of a former president. trump says banana republic, and i think he's right. wednesday, august 10th, 2022. "varney & company" is about to begin. ♪ ♪ you're take taking me higher,

higher, higher off the ground ♪♪ stuart: higher and higher. that does the not -- no, that does not apply to inflation actually. so that's a strange choice of song to open a show about inflation. all right. it's obviously going to be a very big day in money and politics. that's fine, that is our bread and butter, so let's get on with it. good morning, lauren. lauren: good morning. stuart: looks like inflation ised moderating but will stay at a high level for some time to come. lauren: seems so. the market is sell bright. you went from 9.1% to 8.5% annual inflation. stuart: year-over-year with. lauren: human. gas prices fell in the month of july, but let's celebrate the good news. even used car prices fell. then you look at the core that takes out food and fuel, it stays at 5.9% on an annual basis because food prices are still going up. so that's the point.

inflation is still elevated. already sticky points to it, food and rent are, but it is coming down from those very high levels. and the market's higher because the thinking is the fed still hikes in september but not as much, 50 instead of 75 basis points. stuart: got it, yep, you got it. look who's here now. [laughter] eddie ghabour is back. eddie, look, before we get to the market, i want to ask you about inflation. do you think that inflation really is moderating? >> it is moderating, but the thing is it's moderating from an extremely high pace. so i i think what we have to focus on, and i know d.c.'s going to spike the ball today and talk about how this is a big win, but main street doesn't think 8.5 or 8.1 or even if it's 7.1 is a win. we are in a high inflation mare environment, and it's going to stay that way for a while. regardless what the fed does, the damage is done, and growth is decelerating right now.

and we now i are going to be seeing cpi slowly come down. so traditionally speaking, when that happens, we are heading potentially into a deflationary environment. that is not an environment you want to be in, so the momentum is going in the wrong way with regards to the economy. and, yeah, inflation always has to peak many some -- at some point in time, but there's a lot of people that have never been in an environment like this, and it's not going to correct itsel- stuart: you know you're in deep water, you have been saying to people, stay out of this market, you've been saying it for a long time. and now we've got a nice rally on lower inflation. are you still predicting a big drop in the relatively near future? >> i am, stuart. and, look, we're not in hot water because of when we started derisking. i was on your show diesel 8th o, and we started derisking. markets are still down 20 the % from those peaks, so i need to show conviction that growth is

not slowing and that main street is not hurting because that momentum, again, we're in the early innings of this recession that we're going to go in. i expect gdp to continue to get worse over the next two quarters. i think we're going to find out where we're right or -- whether we're righting or wrong in the last lee months. i'm not going to stay bearish if the cat data turns and becomes bullish. so i think this economy is heading in the wrong direction, and it's going to accelerate on the downside over the next two quarters. stuart: okay. >> so i can't get bullish in that environment. stuart: okay. we hear you, and we're dying to see what you're going to say next week and the week after and the month after that. eddie ghabour, come back soon. >> thank you, stuart. stuart: the prompter says, look, we've got another elon musk headline, and yes, we do. he sold more shares. i thought you said he was done

selling shares of tesla? lauren: he said he was, but he just sold another $6.9 billion shares of tesla. why? he might need the money if he's force forced to go through with the purchase of twitter. dan ives thinks the chance as are more likely. they think musk gets it. web bush is raising the price target to $50. maybe this is musk trying to settle now before this all goes to trial where a lot of people say twitter has upper hand in the fall, in october. stuart: can we put tesla back on the screen, please? they dominate the california market. lauren: yes. sales are surging. top two cars sold in -- stuart: it's cars in general, not just evs? lauren: correct. they can get the cars out fast to customers. stuart: it's time we got back to

the raid and down to mar rah lag bow -- mar-a-lago because ashley webster is there. do we have any idea what the fbi was really looking for? >> reporter: by all accounts, stu, they're looking for documents that they believe belong in the national archives which begs in the question -- the question why send in 40 fbi agents if that's what you're looking for? we do know that an attorney for donald trump who was here when the fbi agents showed up, she said the search was focused on three sections; bedroom, an office and a storage room. and that the end of a 9-and-a-half hour search effort, raid, about a dozen boxes were removed from the property here at mar-a-lago. and as these documents are talked about -- although, let's be honest, we've not had that confirmed by the doj or the

fbi -- these were documents like a letter written by former president barack obama and also a letter from mane if leader kim jong none -- north korean leader. i think the former president believed these were his documents that he wanted to keep. if that's what we're talking about and that's the detailed stuff to come out more and more, we're also seeing the anger among republicans grow more and more. in fact, senator lindsey graham of south carolina calling out the investigating agencies last night on fox news. take a listen to this. >> is it plausible the fbi would open up an investigation of donald trump without merit? hell, yeah. they've done it before. so when i hear axlerod say it's not plausible merrick or barland would open up an investigation without plausible evidence, where are you when they opened up crossfire hurricane?

>> reporter: we've also had a statement from senate minority leader mitch mcconnell who probably is not donald trump's best friend, but after 24 hours he did put out a statement which said this, it says that the the country deserves a thorough and immediate explanation of what led to the events of monday. attorney general garland and the department of justice should have already provided answers to the american people and must do so immediately. of course, we have yet had not even my comment at all from the fbi or the department of justice. in the meantime, stories and details of that 9-and-a-half hour raid on monday continue to come to light. stu, back to you. stuart: they'd better come up with something good to justify a raid like that. ashley webster, thank you very much, indeed. the judge who gave the green light has deep political connections. tell me about him. lauren: his name is bruce reinhart, he's notably donated to president obama, gave $1,000

to his 2008 campaign and another $1,000 to his victory fund. stuart: lauren, check those futures, please. the market will open in 20 minutes, and you're going to like this. the dow's going to be up about 400 and the nasdaq close to a 300-point gain. coming up, the media wasted no time celebrating after the fbi raided mar-a-lago. watch this. >> tomorrow is the day when you're going to want to buy the physical copy of the newspaper -- >> this is a night where you're going to remember where you were. >> obviously, as big of stakes as you can have. >> perhaps the orange jump suit is forthcoming. stuart: they're just loving it, aren't they? the unprecedented event has senator tim scott concerned. he joins me later this our -- hour. the white house wants hundreds of billions in new spending. they think that that helps the poor, but we're getting warnings it will have the opposite effect.

edward lawrence sorts it out after this. ♪ ♪ i may be close to retirement, but i'm as busy as ever. and thanks to voya, i'm confident about my future. voya provides guidance for the right investments. they make me feel like i've got it all under control. [crowd cheers] voya. be confident to and through retirement. ♪ ♪ ♪ ♪ ♪ ♪

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stuart: let's get back to the raid on mar rah lag to go, the white house refusing to provide any comment. roll tape. >> is this administration weaponizing the justice department and fbi against political to appropriators? >> peter, the president believes in the rule of law, in the independence of -- >> reporter: yes or no. >> no, that is -- it's a yes or no for you. i'm answering the question, and i'm telling you that we are not going to comment on a criminal

investigation. stuart: okay, that's important. tom fitton joins us now from judicial watch. tom, she called this a criminal investigation. what does that tell you? >> well, it tells us that the white house is being dishonest. they've been pushing that trump being investigated, they've been leaking it, they've been unhappy with the pace and the approach that garland has been taking, and constitutionally speaking, the justice department isn't an independent agency. it reports to the president of united states. he's responsible for this, ultimately. and the idea that there would have been a raid on a former president, his home, with weapons without the white house being kept apprised is just begs, you know, just doesn't sound credible to me. but in the end, the president's responsible for this. if if he's okay with his political rivals being targeted over a document dispute which, obviously, is a pretext, then

the problem isn't just in the garland justice department or the wray fbi, it's in the biden white house. this is a biden administration op, and let's stop pretending that the white house, just because it wasn't technically briefed, whatever term -- however they're defining that, do they define brief or mowing about it the way they're defining recession? please, spare me. stuart: i think that the democrat strategy here is to slime trump with multiple investigations culminating right before the election. do you agree with me? >> i do. you know, and i know we're asking for the basis for in this raid, and we know there are going to be documents and someone at the fbi is going to say this is a serious issue and the judge rub arer stamped it -- rubber stamp ised it. but it's not about the substance of the raid. it's about the fact that it took place and there's a process. and as you highlight, this political theater that's taking

place where they're using law enforcement to harass trump. it's not only here through the justice department, you have yesterday the irs, his irs file now is going to be targeted by pelosi congress. you have this georgia investigation. you have new york. all of which sub instant live -- substantively are lacking, but as you're highlighting, it's all about the politics. and it's a dangerous game because when you use law enforcement to achieve political goals, that way lies the end of the republic. stuart: we're all threatened. tom fitton, we appreciate you being here. >> you're welcome. thank you, bye-bye. stuart: got to get back to another huge story, and that is the inflation report. in the last year consumer prices went up 8.5%. now, that does hurt poor people. the white house says, hey, let's spend a lot more money to help hose poor people. edward lawrence, will that work?

>> reporter: well, you know, just look at the inflation reduction act. all of the models with that act show that it will have a nominal, almost no effect on inflation until the end of 2024. so when you take out food and energy prices in this core inflation, it's at 5.9% year-over-year again this month. that shows that inflation is sticky and puts pressure on the federal reserve that they will have to act a little bit more aggressive at the september meeting. we have one more report between then, but still. so inside these numbers, we look at at a this, all food is up 10.9%. eggs increased 38% over the past 12 months, cereal, baking products up 15 percent. fresh biscuits, rolls, muffins up 13.9%. meat, poultry, eggs and fish up 9.3%. milk is up 15.6%. and we know all types of gas up 44% year-over-year. even goldman sachs is saying this report is unlikely to offer compelling evidence that inflation has peaked.

in fact, the white house also refusing to say that inflation has peaked. listen. >> you said government spending won't really affect inflation going forward, so have the american people seen inflation peak, and is it now coming back down? >> look, what i can tell you is i explained cpi, we don't need -- we haven't seen number yet. we've seen the gas prices come down in the past 56 days which is because of the work that this presidents has done. we hope to to see that is reelected in cpi. >> reporter: cpi did come down, but you look 8.5%, wages up 5.2% wiping out all of the gains. inflights' just -- inflation's just hitting those where it hurts. stuart: edward, thanks very much, indeed. john lonski, economistings -- economist, is with us. i say that inflation stays around at a high level for some time to come. what say you? >> i think you are correct.

i think in the final quarter of this year inflation is still going to be close to 8%, say 7.8%. the only danger might be some unexpected adverse development in the ukraine or possibly taiwan. inflation, i think, is slowly going to move lower. and what matters is that inflation will continue to outrun wage growth by a significant margin until perhaps the middle of next year. stuart: why is the stock market rallying so strongly if we've got inflation at 8% for the rest of the year? >> for one thing, they see the 10-year treasury yield is down to about 2.7%. and also we have a fed meeting coming up september 21 1st. they were looking for a 75 basis point hike, that's three-quarters of a percentage point. right now the futures market has lowered that can'tation to half a percentage -- expectation to half a percentage point bringing up fed funds to about #.9%. if -- 2.9%.

stuart: i saw a headline just a few minutes ago in axios. it says inflation goes to zero in july because gas prices are down. [laughter] i mean, how misleading can you get? >> my goodness. never judge a book by its cover. you might say lies, damn lies and statistics. heir talking about the monthly change in the cpi, but the average person wants to look at the year-over-year increase at 8.5% still hurts though it's down from june's 9.1. stuart: i bet the president picks up on that, zero inflation in july -- >> you bet, and tells us the inflation reduction act is working -- stuart: already. [laughter] thank you very much, john. check hose futures. look at that, plenty of green this wednesday morning. dow's going to be to be up 400, nasdaq close to 300 points at the opening bell. we'll take you to wall street after this. ♪ no, i can't hold it back, i ain't got nothing left.

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was the inflation report that good? [laughter] >> good morning, stuart. well, the inflation report was better than expected, that's for sure, and the market certainly loves that reality. and as my grandmother used to say, you've got to to make hay while the sun is shining, so certainly money is going to be made during this time frame as it was kind of a make or break for tech stocks given their very negative correlation with high inflation. but, you know, we are still in a high inflation cycle right now, and i don't think that we got supply side figured out. so it must be that demand is being curbed a little bit right now. stuart: okay. my worst fear is that the economy stays down and is down and stays down for a protracted length of time. is that your outlook? >> yes, sir. actually, what we're going to see here is a short, a midterm

and a long-term component mt. cycle. so short 'em, potentially midterm, we could see some lift right now. but long term, guess what? we're in a down turn. this is two gdps in a row that are negative. we have not figured out things like gasoline, as an example, on the supply side. looking at europe right now, very concerned about the fact that they have to turn on coal coming up here in next quarter. is that really our answer when the united states has more natural gas than any nation in the world? so, you know, we're not really doing the things that are going to heal this, but ultimately, i think we're cooking the books, if you will, and it's working out at least in the short run. stuart: in the short run at least, you got that right, david. that's a nice rally, but longer term, i don't know. i'm with you on that one. dade, thank you for joining us -- david, thank you for joining us, sir. we always appreciate it. what you're looking at now is a nice rally at the opening

bell, and that nice rally is because of a fairly good, if i can use that word, inflation report. in the month of july, consumer prices did not go up at all. they were unchanged compared to june. that's encouraging. that means that the pace of price increases is slowing down. that's encouraging and maybe that's what's encouraging the market. and maybe the fed won't have to raise interest rates as much as we thought. anyway, it is a rally, and the market has now opened. let's see how we do here. right from the get go, i think we're going to have almost all of the dow 30 in the green. three that are not open yet, the other 28, they're all up. and the dow right from the start, look at that, nice gain, up 460 points, that is 1.39%. the s&p 500 also up 1.75%. a better percentage gain there. and a huge gain for the nasdaq composite, 300 points, 2.3%. i've got to believe that big tech, you're doing very well

this morning. and, yes, it is. apple up $3. amazon up 4%. met a, 4%. alpha get -- alphabet, nearly 2 the %. now show me tesla, please. up 4.5%. elon musk has sold another $6.9 billion worth of tesla shares. the stock is up because tesla cars dominate the california market and because musk says he's not going to sell any more tesla shares, doesn't need to raise any more money, and that's what happens when he says that, the stock goes up. and twitter, web bush raising the twitter price target, remember that musk wants to take over twitter and twitter doesn't want him, etc., etc. well, web bush raises the target price to to 50 on twitter. it's at 44 now and gone up if -- up 3.5%9. next case, coinbase. that's dead flat if to ever is

so slightly higher despite a billion dollar loss. lauren: so the news for coinbase ised bad, and the stock is not down a lot. just to put that in perspective. the report was bad. varian volumes in the quarter more than halved, and coinbase says, yeah, volumes are going to fall more. retail participation down 68%. that's how they generate their revenue, from trading fees from retail and institutions. and this is one of reasons why we keep saying crypto winter, coinbase is cutting 1100 jobs. stuart: retail investors is have walked away -- lauren: heavy lost money. stuart: how about sweet green? that's a salad changer right? down 13%. what's the problem in. lauren: a lot of problems. the ceo said sales softeninged -- softened right around memorial day. sweet greens are in cities, you have fewer people in the office, right? they reported a loss.

lower revenue. they cut their forecast for the year laying off 5% of their support center staff, moving to smaller office buildings, so real estate will cost them less. this is a stock that went public in november at 28, it's half of that now. it had a high of 56. stuart: this is another of those stories, we were talking about yesterday, so many companies are shrinking because they look at the future, and they think it's not that hot. lauren: what's wrong with salads? i think their salads are prettied good. stuart: if you're staying at home -- lauren: you don't buy a $20 the salad. stuart: our parent company is up 2.4%. lauren: sales rose 5 percent on the -- a strong 7% increase in advertising revenue. advertisers showing no signs of slowing down at fox even though the economy has slow down. also higher ratings, that helps.

stuart: don't you love it? [laughter] disney reports after the closing bell this afternoon. oh, let's play the expectations game. what are you expecting? lauren: what does the ceo expect? he got a vote of confidence in june with the board extending his contract, renewing it. so this is the first time since then he's addressing investors. what's his vision for content? what's his vision for theme parks in a slowing economy? streaming is a big one. a few years ago they set the goal of more than 230 million subscribers by 2024 for disney+. do they have ore vise that down? stuart: good we. >> the indian premier league, disney didn't get those streaming rights. that's huge for their international expansion. so disney's kind of stuck. how do they get more eyeballs on disney+, and what happens to the theme parks that are doing great right now but, hey, that's discretionary spending and it

costs a a lot to go, so i'm curious -- stuart: i just find it fascinating that that indian cricket should be a factor in disney to's financial report. lauren: indian market is huge. stuart: it sure is. then there's roblox, gaming company, hit very hard today. down 4%. lauren: console makers, ship maker -- chip makers warning of a downturn. they said bookings fell in the quarter by 4% from a year ago. the benchmark analyst, his comments are great. roblox is typically played by kids, right? he said most children don't personally pay for their gaming experience. it's the parents, and the parents are only concerned about the price. they have no brand loyalty. so if your parent says you can't do that anymore, you can't make as many purchases on row blocks. stuart: i'd like to see the parent when he or she tells the child, you can't do that game anymore. lauren: it isn't really a

chipmaker, but it's so curious that we have this chips act and you have micron, amd, nintendo all warning of softening demand. stuart: the chip deal won't chip in -- kick in for at least a year. intel says they're not going to see that money until the end of 2023. lauren: right. i mean, i think it's the right move because you want to have more resources stateside. but you have all these warnings when we're putting all these billions of dollars into manufacturing more chips here at home. stuart: check out the dow, start with the big board. you're up 1.3%. that that's a very solid rally, 400 points occupy. -- up. # 3,200. dow winners head by salesportion.com, dow inc., disney if, mesh express, all -- american express. and look at the s&p 500. caesars entertainment, whoa, 7.5%. etsy, royal norwegian -- lauren: discretionary. we can spend more money.

stuart: travel and cruise lines are doing well. zoom's back up 4%, of course that. not bad at all. the 10-year treasury yield went below 2.7% earlier, now it's 2.74%. gold has reached $1800 an ounce, and it's staying there at the moment. bitcoin's back to $24,000. oil is on the up -- no, not. we've dropped below $90 per barrel. nat gas, i haven't a clue, 7.81 per million british thermal units, and look at gasoline, the average price is now at $4. that, by the way, $4.01 is precisely $1 lower than when gas hit its high. in california, 5.39 for regular. here's what we have on deck, mark i cuban has some choice words for people buying real estate in the metaserious are. hold it.

>> the worst part is [bleep]. people are pieing real estate in this. that's just the [bleep] ever. stuart: kennedy is one of our favorite guests, and she will be on the show later. i just can't imagine her buying land in the met that the verse. that that's not kennedy, is it? lauren: i think she's pro reality in meta. stuart: i hope she's watching now so she can tell us what she's going to do. is it time to say good-bye to the guy who stocks the shelves at the supermarket? a robotics guy is hoping to sell these things to grocery stores. one at work as we speak. look at that. senator tim scott has got a new book. i want to know he's making a run for the presidency. the senator is next. ♪ story of my life, i take her home -- ♪ i drive all night to keep her warm in time ♪♪

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stuart: it is a rally. i can confirm that on the left-hand side of your screen. the dow's up 456 points, nasdaq up 234. you know, some democrats who just love the raid on trump's home had a very different story a few years ago. lauren: let's go back to 2019, and in september of that year when nancy pelosi said this when then-president trump, writes the frivolous investigation of automakers who reached an agreement with california on new fuel efficiency standards is an effort to weaponize law enforcement for partisan political purposes. and that same year with california congressman adam schiff lashed out at trump and his attorney general for stonewalling the public from learning the truth about his obstruction of justice. trump and barr, the a.g. at the time, conspired to weaponize law enforcement and classified

information against their political enemies, and one more from you from congressman jayapal. she writes: it is wholly unacceptable to weaponize the doj against members of congress. bill barr, the a.g., consistently acted as trump's personal henchman, and he must be held pulley accountable. and that, of course, is after the doj subpoenaed records from two democratic congressmen. so the tables have turned. stuart: that was then and this is now. what a difference. joining me now is senator tim scott, republican from the state of south carolina. mr. senator, is a weaponized state going after mr. trump to suppress his politics? if. >> there's no doubt that when you look at the raid on on monday, it was unprecedented, shocking and, frankly, if you think about, stuart, last week when we had christopher wray before the judiciary committee, for what reason? because of the political nature of the fbi. this concept of weaponizing politically the fbi or the department of justice for personal agendas or vendettas is

very frightening for the average citizen. and if it could happen to the former president of the united states, what hope is will for me and you, stuart? if that is a very dangerous place for us to be and one that needs the type of oversight that you have when you're in the majority. you need to win elections to get us to a place where we can hold these individuals accountable. stuart: and has the raid galvanized trump supporters? it looks like it because trump candidates did well in the primaries yesterday, but has it also, has it united the republican party? behind mr. trump? >> i think it, i think the answer, quick answer is, yes. perhaps the bigger answer is that what you're seeing today is a united front behind justice. we want fairness and an equal application of the law, particularly for the former president because for the last five years, six years we've seen every single day in the media this witch hunt, it feels like,

since the russia collusion fail. there's always something coming up. and i would say that without any question if you read my book, "a are redemption story," the one thing you walk away with is the importance of a justice system being fair and equal. lady justice is blind for a reason. it's not how it feels today, and it's something that we have to solve immediately so that the american dream is more achievable for the average person around this country. stuart: your new week, just out, it's titled "america: a redemption story, choosing hope, creating unity." mr. senator, i'm tempted to suggest that this is the opening shot in your campaign for the presidency. >> well, stuart, you would be wrong there, sir. [laughter] stuart: i just had to say it. >> i i like the way that -- i love your accent, but that's -- i would simply say this is a

book, i think the time for the story of redemption is now. we keep hearing these false reports of how polarized everything in america is and how bad it is and it's never been worse as if we missed the civil war or we missed the jim crow south or we missed the 1960s or we missed the rodney king thing in 1992. i don't know how we come to that conclusion. but the more i understand and appreciate through research the story of america, the more i understand that the arc of the universe is bending towards justice. we can still do better and we will. but there's a lot to celebrate, and we should tell both sides of the ledger. and if you read the book, you'll hear some really good news based in fact about who we are as a country. stuart: mr. senator, you have no idea how much we all want something positive. that's what we want, something -- a plus to look forward to. >> yes. stuart: senator scott, thank you so much for joining us, sir, and good luck with the book. is and with your campaign. [laughter] see you again soon.

thanks a lot. gotta get back to the raid. what is "the wall street journal" editorial board saying about it? lauren: it smells fishy. they're speculating the raid could be a fishing expedition. so a hunt for evidence to tie to january 6th because pressure is on attorney general merrick garland for an indictment 90 days before the midterms. pleasure so this is what the editorial board says. they write: anyone who thinks an indictment and trial of mr. trump would go smoothly is in for a rude surprise. millions of his supporters will see this as vindication of his charges against the deep state, and who knows how they will respond. has mr. garland considered all of this? worse in the long term is the precedent being set and the playback -- i'm sorry, payback it is likely to inspire. so i guess that's payback at the polls in november or payback if republicans take control. stuart: and trump-backed and trump-endorsed candidates did very well in yesterday's --

lauren: particularly in wisconsin. stuart: we'll get into that later on. next case, a judge denying some liv golfers' bid to play in the pga tour's fedexcup. playoffs. i wonder how dave portnoy feels about it? he's going to be on the show later. the new school year is fast approaching, districts across the country are scrambling to find teachers. some are getting creative. tell you all about that next. ♪ ♪ welcome to your world. your why. what drives you? what do you want to leave behind? that's your why. it's your purpose, and we will work with you every step of the way to achieve it. new projects means new project managers. you need to hire. i need indeed.

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stuart: today's inflation report reveals that used car prices went up 6.6% compared to a year ago, but used car prices were down month on month. george harrison is the ceo of shift, a company which buys and sells used cars online. george, welcome to the program. from these -- >> thanks for having me. stuart: -- today, 6.6% up over past year, down a little in the past month. does that imply that used car prices have finally peaked? >> i suspect not yet,

unfortunately. we still see a lot of demand for cars, and prices are still high. what we're actually seeing is people moving downwards in the kinds of cars they want to buy. they're buying older vehicles that are cheaper. so, for example, in q1 we sold 30% what we call 8 plus--year-old cars. people still need the vehicle, but they're actually moving downward in the kind of cars they are purchasing. tiewfort stuart one of the things we're really interested in is the market for electric vehicles, and my question to you is, does anyone buy a used electric vehicle these days? >> well, at shift we've always done really well with used cars, electric or hybrid, and a much higher percentage of those being sold to with us versus the national kind of total. so if from our perspective, the demand on those vehicles is really high. definitely when war in ukraine started, demand sister gas

guzzlers -- for the gas guzzlers slowed, and so that definitely pushed more towards hybrid vehicles and electric cars, and i suspect that's going to continue for a long time -- david: stuart: does the value of an electric car hold up? i was always told hat battery is the big problem. you've got to replace that, you've got to replace the car. >> right9 now value for all cars it's kind of hard to say, specifically for electric car in general, but, for example, teslas hold their value really well, for sure. toyota hybrid cars are very, very popular, and those are, you know, we can sell those as much as we can get our hands on, so those hold their price really well as well. stuart: we're very interested in tesla holding its prices. congratulations, george. i know you're going to step to become the board chairman shortly, on september the 1st, and you're taking over car lots, another company. thanks very much, george. >> thank you very much. stuart: you got it.

some drivers are buying new cars and then reselling them at a higher price. that's car flipping. lauren: yep. stuart: give me an example. lauren: a man a few months ago, in march, he bought a tesla for $87,000, and he sold it for $101,000. so he made 14,000 profit just like that. typically, cars lose more than 20% of their value in the first year, but with everything inflated, that's not happening this year. it's also bad for the dealerships when he was to buy some of these cars back, right? stuart: that's right. lauren: gm is cracking down. they're saying they're going to -- the warranties will disappear if a car is flipped within the first 12 months of ownership. stuart: the tesla is still very popular. here's what is just ahead. vivek ramaswamy, and port moye is back. -- portnoy is back, the 10:00 hour is next. ♪♪ ♪

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♪ i'm having such a good time, i'm having a ball ♪ stuart: oh, there's that brown building again. don't stop me now, from "queen" and there's the empire state building and the ugly brown building on the left-hand side. they ought to knock it down. good morning, everyone. 10:00 eastern. i really want to get straight to the money, because this is a very solid rally. look at that. the dows up close to 500 points, that is 1.5%, and the nasdaq is up 260, that's much better than

2%. interest rates down, the yield on the 10 year, 271. the price of oil, not doing very much, $88 a barrel. bitcoin, actually struggling back to 24,000 bucks per coin. folks that's the markets i hope you like what you see , now thi. if the mar-a-lago raid was designed to intimidate, it failed. just hours later, as the news spread, trump supporters turned out in very large numbers to support trump-endorsed candidates in tuesday's republican primaries. three races tell the story. in wisconsin trump backed tim michaels beat mike pence-backed jessica kleefisch, and trump supported leora levy won a 10 point victory and the votes came from connecticut small towns, increasingly, that's trump country. she beat femitis claritis, and in washington state trump

endorsed joe kent who beat jamie herrer axe who had voted to impeach trump and surely no coincidence on the day of a widely condemned radon trump's house the candidates he endorsed won their races and even andrew yang, who has no love for the former president tweeted that the raid made it easier for the trump to be the target of unjust persecution, the left weaponized the state using it to persecute their political opponents and if that raid doesn't turn up conclusive evidence of criminal wrongdoing there should be hell to pay. second hour of "varney" just getting started. you can see us all around the bench here. todd piro is sitting right next to me. the fbi raid, i think it motivated trump supporters last

night in wisconsin and elsewhere will it motivate his supporters in november? todd: absolutely and we need to look no further than last night specifically the state of connecticut. the state in which i live. i don't think i can overstate how big a win that was for leory levy. three months ago, i live in connecticut. i had no idea who she was. this was a two-person race, pierre lamag on our air and claritis, in the state house in hartford for decades everybody knows who she is, you have a democrat you go to one person and you need a republican , everybody knew who these people were and leora levy comes in, and what happened alt mar-a-lago happens and she wins by 10 points that's insane. stuart: coming from nowhere just on the back of trump endorsement that says something. now, congressman jim banks, along with, i think it was a dozen other republicans, they met with president trump, bed minster last night. here is what congressman banks had to say about the meeting,

roll it. >> i've never seen president trump as fired up as what he was tonight. he is not deterred. he's not phased at all by what the doj has done an unprecedented move of raiding the home of a former president. a raid, unifies republicans in the outrage and if anything, it paves the way for donald trump to unify the party once again, and run for president. everyone in the room encouraged president trump to run for president again, and the sooner he gets out and starts campaigning, the better. stuart: okay, todd, a is there any doubt in your mind he's running and b, is there any doubt that he's actually united the republican party? todd:a, no doubt in my mind. that was corroborated by the fact we had lara trump on our show right after the raid. she said it is highly likely he's going to run. i think there's a family connection they have talked at some point as for b, look at whose come out in support of donald trump following the raid. all of his potential primary

opponents, including ron desantis. i mean, we're all talking about ron desantis as the presumptive front runner for the nomination if it's not trump. desantis came out and said this is horrible what happened. we need to support donald trump. mike pompeo, the list goes on and on and on. if the people that could be dancing on a grave are now, and are instead uniting behind donald trump, i think you have your answer right there. stuart: fascinating. todd you worked very hard today. todd: a heck of a day on every show on the network. stuart: pretty cool. thanks very much. now the judge who signed off on the raid, also donated thousands to obama's campaign. take me through that one. lauren: his name is bruce reinha rdt, a federal magistrate judge, donating $1,000 to president obama's 2000 to his victory fund but look he also donated to republican presidential contender back in 2016 jeb bush, that was just $500. i wanted to tell you this. who else got a warrant yesterday the five-term pennsylvania congressman scott perry.

he's a trump allie. he said three fbi agents come up to him, on tuesday. the day after the mar-a-lago raid. they handed him a warrant and they took his personal cell phone. they took it just like that. why? we do not know. we could speculate. this could be related to the justice department inspector general who is said to be probing the justice department's role in seeking to assist donald trump block certification of the election in 2020, but, perry is a congressman. he doesn't work for the department of justice, so what exactly is going on here that the tentacles have spread and now going after this congressman, a trump allie. stuart: since when has the executive branch taken stuff away from the legislative branch from a sitting legislator. lauren: personal cell phone and didn't get his attorney involved stuart: how about that? another one, lauren. senator bernie sanders is the latest to dodge questions over supporting biden in 2024. go ahead. lauren: he was asked twice in a row on cnn and he refused to

directly support president biden >> do you want to see president biden, senator, run for a second term? >> well what i want to see right now is that the congress of the united states working with president biden, next year. >> let me rephrase the question do you want to see him run for re-election? >> look, right now, my concern is electing more democrats in this mid-term election. lauren: [laughter] stuart: that was funny. lauren: bernie sanders actually shook his head while giving that non-answer but look these are the democrats who have dodged the question if they support biden's relationship, senator manchin, corey bush, aoc. that's 10 on that list and i think the numbers growing. stuart: okay, he's a lame duck. all right, we've gotta get back to the market. look at this. the dow is up 500 points. i suspect that's because we got

a nice inflation report earlier this morning. alan johnson is with us he's the market watcher of the day. lucky you, yes, sir. watch the market on a day we've got a whopping great big rally. >> well this is inflation. this is the inflation report, it's all about a benign inflation. in fact the lowest inflation we've seen in two years. stuart you and i have been waiting for a day like this for a long time, but it's not just you and me. it's you, me, bulls, bears, all of us together. ceo's have been talking about how supply chains have been out of whack, but they are starting to see glimmers of supply chains coming back, and the fact that cpi month-over-month was flat. for the first time in two years that goes a long way toward saying yes, we are getting back to normal and that's why stocks are up. stuart: are you buying? >> yes. stuart: not you personal luxury but are you advising clients to buy? >> yes, and here is what's even more important than my wanting to buy on behalf of clients. i think what we're seeing is

that investors, large institutional investors, who have been on the sidelines, are now having to get back in and deploy capital. they've been holding off in cash because they wanted to be prudent and i respect that but they're also now recognizing that they will miss out, as this market, as the economy normalizes, and as the market re inflates, so we go from fear to fear of missing out. that's an important transition, and that becomes very powerful because that's the fuel that pushes the market higher. stuart: looking down the road, recession, or a fed raising interest rates, that's not of a major concern any longer. we have a solid bounce. >> we have the two e's of earnings and employment right? we have earnings growth of somewhere between 5% and 7%. we have employment the lowest its ever been from a market perspective, that's a powerful narrative, and now, we have inflation coming back down. if you've been sitting in cash, now you're saying to yourself, why am i still sitting in cash? we may technically be in a

recession. there maybe uncertainty about by technically in recession because gdp went down twice, right? but because employment is so strong, i think it becomes the shallowest recession we've seen in a long, long time, and if you're sitting in cash, you now need to ask yourself, why you're still sitting in cash. stuart: i'm sitting in cash, and i'm beginning to ask, why am i still sitting in cash. >> good keep asking i will keep telling you, it's time to deploy that cash. you don't have to put it all back in. dollar cost averaging is a very intelligent way to do it. do a little bit every two weeks. you're never going to catch the bottom but that's all right you're averaging overtime. that's a prudent way to deploy capital. stuart: i like to be prudent, yes, sir. thank you very much, adam, see you later. okay, lauren simonetti with us looking at the movers and what do we got? lauren: adam and i were just talking about this it's a fintech, it's up, there's no reason it's higher other than that cooler inflation data which is a sign of relief for americans out there, also if you look at fed funds futures

they are pricing just at 38% chance of the fed at 75 in september down sharply. stuart: what is next door holding? lauren: it's like a social neighborhood watch community. stuart: gossip? lauren: crime is up. you would think it be more possible. someone stole your amazon box on your doorstep, or it's a community policing company. so you would think it be more in demand right now, but they sell ads, and ads are down that's why the stock is down 20% stuart: another company looking to the future saying -- lauren: they cut their outlook and limiting hiring so that's the theme. stuart: electronic arts, what's the story? lauren: up to 2% they just renewed a deal with the nfl for the ea sports madden nfl championship series why is that important? because they ended their deal with fefa, that decades-long partnership a few months ago. stuart: the federation of international football association.

lauren: good job. i once said fifa. stuart: [laughter] moving on to golf. players who joined the live golf league cannot compete in the pga post-season tour. bar stool president portnoy will deal with that he's on the show in the next hour. photos show speaker pelosi's son joined her on her trip to taiwan , but his name wasn't listed on the official delegation. wonder what that means. china withdraws its promise not to send troops to taiwan if it takes control of the island. general keith kellogg says this is a crisis that's going to grow over the next two years. he'll explain. [sfx: ding] [message] hey babe, meet us at the bottom of the trail. oh, man. hey!

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stuart: well, look at that rally now. the dow is up over 500 points, nasdaq up about 250, 60 points up for the s&p that's better than 1.5% that's a rally across-the-boardment speaker pelosi defending her trip to taiwan. she says it was worth it. lauren: it was her first interview since her trip and she calls china's president a scared bully, only focused on securing an unprecedented third term. >> yes, it was worth it, and what the chinese are doing is what they usually do. the president of china acts like a bully, it doesn't mean that i'm going to have him do my schedule for members of congress lauren: she's getting some heat though, because she brought her son paul, not her husband, her son, paul, on the trip. you can see him in some of the photos. i'm looking right there, anyway, he was not listed on the official delegation. there he is in the back on the right in the purple tie.

he should be listed. stuart: picky picky picky. i'm not picking on her for that. thanks. china has withdrawn its promise not to send troops to taiwan after achieving unification. retired general keith kellogg joins me now. general? does that mean they are going to go ahead with unification and when they've done it, they will put their own soldiers on the island. that sounds like a hell of a threat to me. >> hi, stuart thanks for having me. well of course they are going to do that. anybody who believed that they wouldn't do something like that despite the fact they put that out in two earlier statements, you know, i've got a bridge to sell them in brooklyn. they are going to do that. we know. we need to understand that china is a growing adversary and it is an adversary, militarily, politically, economically, it's led by an authoritarian leader, speaker pelosi just called him a bully. i'll call him a authoritarian leader in president xi and squarely in the crosshairs of china is taiwan and we need to recognize that and i think the

reason there's, they are pushing forward on this is they believe that in the next two years they will have an opportunity to do something with taiwan, because they look at political leadership. xi looks the leadership of the united states. he probably is calculating that president biden will not be a two-term president, that there will be somebody else in the white house so he will not be sure of who we will be working against when it comes to taiwan, so he figures he's got a win now. this is a two-year window. for the last 50 years we actually started this right after nixon went to china when he opened up china to the world, and they issued a shanghai communication 50 years ago in 1972 and they said there's only one china. taiwan is not a separate china. it's a one-china policy they call it, so over the last 50 o years they have tried to negotiate it and make it work and xi realizes it's not going to happen. president xi of china will become the most powerful leader of china since when he first

started the communist china, probably more powerful so there's a window of opportunity he's going to take it. stuart: okay now following through on that china seems to be expanding or trying to expand its influence in africa and throughout the pacific as well. do we have enough military power to counter their expansion? >> well, it's a great question. depends on how you do it. you almost have to have focused military power. they are really not yet a global power, they are very powerful regional power, but globally they're not quite there yet so can we handle it today? the answer is yes. my concern is overtime as it continues to grow, then we're going to have our hands full because they combine themselves with the russians. now think of it this way. the chinese just established a port in western africa, let's say they have combined with a russian fleet and the chinese fleet in the atlantic. now you've got two major fleets, two nuclear powers floating around the atlantic facing our atlantic fleet so the possibility of that happening in the future is there

today, no. whatever time they continue to grow, but right now, my bigger concern is what they are going to do with taiwan as a regional power in that area. we have to gather our strength of our allies, japan, vietnam, australia, the philippines, to counter the strength that continues to grow in the pacific stuart: all of a sudden we've got a war in europe, a new cold war, with china, maybe a hot war coming in the middle east who knows, but the whole world looks different just in the past year. i just want last comment from me , if i may. i don't think the world be looking this way today, had it not been for the debacle in afghanistan one year ago. 30 seconds to you, general. >> you're absolutely right, stuart. that started it. it's presidential will, presidential power, and president biden historically and it's just not me, has been a very weak president when it comes to international relations he talks big but he doesn't

operate big. it's sort of like all hat no cattle and i think that's a big concern we all have to have. you mentioned him, the big three iran with potential nuclear weapon, the ukraine russia issue , china, don't forget, don't forget, you've got north korea working out there and terrorism will continue to raise its ugly head. handling one crisis is hard enough and handling multiple crisis like those three potentially those five is very very difficult. you better have a good team. unfortunately i don't think biden has that team around him. stuart: general keith kellogg, thanks for being with us, sir. much obliged to you see you again soon. russia launched a new iranian satellite into space, yesterday. what's that for? lauren: the washington post is reporting that western security officials said russia told iran it will use its cameras on that satellite to surveil military targets in ukraine and eventually let iran monitor israel. iran says no, this is going to help us improve our agricultural production. i don't think anyone believes

when you have russia and iran coordinating in space that there is a humanitarian goal there. stuart: nothing to do with farming i don't think. thank you, lauren. now, do you remember this guy? roll tape. >> my name is joe exotic and this is sarge. this is my way of living and nobody is going to tell me otherwise. stuart: the star of the netflix show "tiger king" wants president biden to help him out we have the story next hour. senator manchin may have trouble explaining his support for the inflation reduction act. the coal industry is not happy about it, and hillary vaughn will be reporting from coal country, right after this. >> okay, so you're a rocket scientist. that don't impress me much, so you got the brains but have you got the touch ♪

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♪ do you believe in life after love ♪ stuart: you know, it looks like a really nice day in chicago, just 76 degrees, clear and sunny that's my kind of weather and by the way, if you like the music that we play on the show you can follow us on spotify, search "varney" & company, or scan

that qr code in the middle of your screen right there. i can do it, so anybody can. lauren: you can do that? stuart: i haven't done it yet. check those markets. lauren: [laughter] stuart: you're laughing at me. there's nothing to laugh about that stock market. look at it go. the dow is up nearly 500 points, very nice inflation report out this morning. nasdaq up 239, that is a rally. and look at this. norwegian cruise lines is back on the active list. we're talking about it as a mover. lauren: it's number one on the s&p 500, and number two is royal caribbean and number three is carnival. i had to share that with you. if you look at number four and five there are your homebuilders h d. r. hor donees and purlty. stuart: for two years, cruise lines down, cruise lines down, cruise lines up. lauren: correct. stuart: now cruise lines back up again. lauren: yeah but all three are topping the s&p 500 today. look, there's relief for people out there that inflation is cool ing, and the feds not going to be as aggressive, so for

mortgage rates, if you're a homebuilder, that's pretty good. they might not spike as much. stuart: does anybody invest in cruise lines these days? i'd really like to know. lauren: well you can make or lose money really fast. stuart: vivek ramaswamy knows a thing or two aunt day trading. >> well it's an interesting time to be looking at stocks that are volatile. volatility provides opportunities for people looking for valley so i don't have a view on the cruise lines. lauren: i want to be a passenger i really do now that you don't have such strict testing i could take a cruise and come back and be okay without quarantining. stuart: vivek was an undergraduate of harvard and a graduate of yale and he's got something interesting to say. tell me about the new etf. i know a thing or two about it. >> good, i'm closing the new york stock exchange this afternoon so we officially launched the strive asset management first etf, that is targeting the u.s. energy sector it's a u.s. energy index fund, but it's different in the voice

that we bring to the u.s. energy sector, which is what i call a post-esg mandate where esg- linked asset managers like blackrock told these firms effectively to cut drilling and production. do you know what we say stuart? drill, frac, produce more energy , whatever allows you to be the most successful over the long run, without regard to any political social or cultural agenda. that's what u.s. energy companies should be focused on. stuart: excellent so i can put money into your etf, and essentially i'm putting money into fossil fuel extraction. that's what i'm doing. >> delivering and even moreso, delivering a message to those companies that they ought to focus on producing more, if that's what allows them to be most successful because what's happened over the last half decade is these large investment managers have imposed esg mandates causing these companies to under invest in production. stuart: you're talking about blackrock? >> they've led the charge at the end of the day, but you know what that's created an opportunity for i think a potentially great reversal between the fortunes of say u.s. tech which did really well

over the last 10 years and u.s. energy which could do really well in the next 10 years even in the next few years, if, if they are unconstrained by these esg handcuffs and that's taking a new shareholder mandate at the table, that's what we're hoping to bring to the table at strive, and the ticker which you'll enjoy is drll, drill. which delivers a very simple message but it's a part of a broader movement, stuart, to take corporate america and tell them to get out of the business of pushing political agendas. get out of the business of pushing social agendas. get back into the business of making great products and services and yes, focusing exclusively on making a profit doing it. that's the message. stuart: it's great to see a graduate of harvard and yale talking sense. that is really cool. >> well you know, we paid a lot of dollars so be good to make a little sense from that education but those places have changed since when i went there. stuart: i've got a minute left and i want to talk about elon musk. he's been selling a lot of tesla stock. he says he's sold enough. he's raised cash just in case he has to go through with the

twitter takeover. what's your analysis of the musk twitter tesla situation right now? >> well, makes a lot of sense to me at the end of the day if he's going to court and one possibility from going to court is he may have to buy the company, he's going to need cash to do it nobody will want to sell stock in a crunch but here is elon's challenge with twitter even if he does go through. say he follows his mission. there's 10 plus thousand employees at twitter who do not want to do the thing that elon as a new shareholder will mandate them to do and that's why i think when we're thinking about using shareholder power to change corporate america, i love picking sectors that where the employees there are actually eager to do the thing that a new investor would tell them to do. that's why i'm focused on the energy industry. he picked a hard one. tech is hard to change because the employees don't want to do it. take the u.s. energy industry employees are waiting for a new shareholder mandate, so those are some of the difference s. stuart: before you go, where did you get young protesters energy from? do you drink coffee? >> i don't drink coffee because i'm told it be dangerous if i did, so i stay away from coffee,

because -- stuart: tea? >> tea i'll do once in a while. stuart: mountain dew? lauren: how much sleep do you get at night? >> it varies a few hours at night. i can make do with it. stuart: this is a personal question. do you drink alcohol? >> not really. no. i'm basically just focused on whatever came naturally, let me use those talents to my best benefit. stuart: i shouldn't ask. in which state do you live? >> i live in ohio. i was born and raised in cincinnati. i live and work in columbus. stuart: do they have recreational weed in ohio? >> i don't think so. i'm not a big consumer. stuart: just wanting a little background. lauren: married, kids, dogs? >> married, two kids, we had our second kid on july 5 actually. my wife went into labor on july 4 so we thought it was an independence day baby but he came out a day later. stuart: this is much more fascinating than your new etf. vivek, you sir, are all right great having you on the show. thank you, sir. democrat senator joe manchin, well, man, he may have some

trouble explaining his support for that inflation reduction act he once said if you can't go back home and explain it, he can't vote for it. interesting. hillary vaughn is in the heart of west virginia's coal industry , coal country, that is talking to manchin's constituent s. how are they reacting, hillary? reporter: stuart, well, those in the coal industry are not too thrilled with the inflation reduction act because it would provide $300 billion in new spending, for climate and clean energy investments. the largest investment in those industries in u.s. history , compared to just $10 billion in spending, for other forms of energy like coal, oil, and natural gas. that historic spending for climate is sparking concern from coal companies who say it puts coal at a billion dollar disadvantage by supersizing government funding for their market competitor. >> that's at the core of our objections or concerns. we've been incentivizing

renewable energy for a decade and a half now. >> do you wish that those numbers matched? >> oh, absolutely. we've seen over 600 coal plants be repaired nationally, and we think the way this bill is structured with the lopsided and uneven advantages given to wind and solar and intermittent energy sources, that it'll accelerate those plant closures and a loss of additional mining jobs going forward. reporter: there are benefits in the bill aimed to help the coal industry including $5 billion in a financing program for coal plants to make environmental and efficiency upgrades to their plants among other benefits, but it's not just spending that's raising concerns. the bill would revive a black lung tax on the coal industry that helps pay for healthcare, for minors that can track black lung disease on-the-job. supporters of the inflation reduction act point out the black lung tax has been in place for decades but it did go away last year getting coal companies some temporary tax

relief. this bill would bring that tax back which the west virginia cola sos equation says any extra tax even if they paid it in the past be an additional burden on these companies and would put u.s. coal at a price disadvantage on the global market. stuart? stuart: hillary, thank you very much indeed. briefly look at the bottom right hand corner of your screen the dow is up 500 points, now take a look at this. robots stocking shelves at grocery stores in japan. they maybe coming to a grocery store near you too. we'll tell you all about that one. teachers union head randi weingarten looking at the ongoing teacher shortage saying don't blame me. roll tape. >> you have all of the pandemic stress and strain. >> politicians have really polluted what goes on with teachers right now. stuart: blaming politicians my goodness me. now there are some schools working around the teacher shortages. we're going to tell you all about that, after this.

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stuart: [laughter] now, leaving california screaming, did you see that? the los angeles city council wanted to put homeless encampments near schools, but protesters, i understand, really disrupted the meeting. lauren: i don't even know what to say about this. the protesters were for putting these encampments and more of them 500-yards from schools and daycares, where the homeless often do drugs, right by young children, so the protesters say

look, if you don't do this , you're isolating the homeless even more. the vote was 11-3 for expanding the ban on these homeless encampments and it got really rowdy. the security barriers were broken, lawmakers were threaten ed and police ultimately arrested two people outside of city hall. stuart: so despite the protest, they are going to put, they aren't going to put these encampments? lauren: common sense prevailed, no. come on, right by school kids? those are toddlers. stuart: i'm with you, i'm with you. another one for you there's a teacher shortage we all know that. are any of these schools getting creative to fill the gaps? lauren: yeah but i do want to point out what works in some parts of the country won't work in others. this is what they are doing first you'll hear from texas. >> you passed a four-day school week, so we will be working monday through thursday and off fridays and what we've seen from that is we were able to fill all our teacher vacancies. >> i worked in several classrooms in several different positions. i did some t tin

in wsdd sst situteite peri- pressiofes sndci salal atedn sng, ing,hi ing it't' al tthall oll rolluress chmus do rll ryealle susuharesuavee the s tspos s rrs.s. what whavehahan expieg , i ink,, in i i ts rt of new york state, it's rural and we've been experiencing a population decline for really the last 20 years. lauren: so, the other superintendents were from minnesota and new york. here are the numbers. public school enrollment is down .2% in minnesota, down 2% in new york city, but it's up in texas by .6%, so they are getting creative because a lot of teachers just don't want to go back to work and deal with the politics. stuart: i understand that one entirely. i do. back-to-school, they are costing you even more this year, inflation hits essential classroom supplies we know that. lydia hu is with me. lydia, how much more will it cost this year compared to last year, school supplies? reporter: stuart just to buy

this basic basket of common back-to-school items it'll cost you about 15% more this year than it did last year. this is coming from a data analytics firm called data weave they took a look at the price increases on some of the basic items and found notebooks up in price about 31%. pens and pencils everyone needs them up by about 25% and here backpacks are up by about 12%. stuart, these cost increases are really stressing out consumers, because consumers view this as necessities for their kids to get them off to a good start for school, but one in three people say that they are stressed out about making the most of their budget trying to stretch that budget, and in order to do that, we're going to see a pullback on some categor ies of consumer spending for back-to-school items. for example, spending on electronics, expected to dip about $100 this year, spending on backpacks will decline by about $27 and maybe we don't have the same mandates that we did in school when it comes to p

pe, but spending on masks and hand sanitizer falls about $21 this year, but regardless, we still expect overall spending per household to rise this year, to about $864. that's according to the national retail federation, that's 15 bucks higher than it was last year, even with these pullbacks. one other consumer trend for you to keep an eye out for this year , stuart, is the return to brick-and-mortar. six in 10 or so people surveyed says they are going to head to the stores to get these items. target, walmart, popular destinations, but another destination that's on the rise? the dollar store. people are on the hunt for a deal as inflation is hanging around. we're going to see about one in three people heading to their local dollar store. that's up from one in four just last year, as people are looking for a bargain. stuart? stuart: that was really good stuff, now i know exactly what we have to pay for to go back-to-school. thank you very much indeed, lydia hu, right there.

all right the media is celebrat ing the raid on trump's home. they call it historic. watch this [laughter] >> this is a night where you're going to remember where you were >> if i were donald trump's lawyer right now, i be advising my client to be telling my family i am looking at jail time and we should make plans. stuart: [laughter] they really want trump to go to jail. we've got much more on that and that's a promise. more buses filled with illegal migrants arrived in new york city today. bryan llenas was there at the port authority when they arrived he'll tell us what he saw after this. ♪ ♪ your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

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stuart: earlier today, three more buses arrived in new york city from texas, filled with migrants, more apparently are on the way. bryan llenas at the port authority in new york. brian? how many more migrants arrived today and what is the mayor of new york saying about it? reporter: stuart, good morning. well approximately 95 illegal immigrants arrived on those three buses that arrived this morning, directly from

texas, to the port authority bus terminal behind me in midtown new york city. this is the third bus convoy that has been sent to the city by texas governor greg abbott, since last friday. this is something that he started. most arriving today were single adult males, total of approximately 160 immigrants have now been sent over the last week. now, some 4,000 asylum seekers have arrived in new york new york city since may and they are processing the migrants at four main shelters where placed in temporary housing including 111 hotels the city contracted with. the commissioner for migrant affairs of new york city greeted the migrants this morning and said governor abbott is being in humane by loading buses to the big apple. >> i've called his action by governor abbott cowardly, morally corrupt, for them to be brought here, you know, like i

said, maybe against their will, it's unacceptable. reporter: mayor eric adams says look, they welcome immigrants, but he calls governor abbott's bus convoys to new york city and to washington d.c. "horrific." he claims abbott is using these migrant's lives is political pawns to manufacture a crisis. he also claimed that migrants were being sent here against their will. now governor abbott's office says that is simply not true. "these migrants willingly chose to go to new york city, having signed a voluntary consent waiver, available in multiple languages, upon boarding that they agreed on the destination." now, stuart, mayor eric adams says he is "deeply contemplating " sending bus loads of new yorkers to go door knock in texas to get governor abbott voted out. he's up for re-election in november. in the meantime more buses expected to arrive here from texas. stuart? stuart: it's just fascinating bryan llenas, thanks very much indeed.

i want to bring in chad wolf former acting director of the border. i guess that's the title. chad, welcome to the show good to see you. can you explain what's going on here? why aren't sanctuary cities and states actually welcoming illegals? >> well i think that's a great question and what we see from mayor adams is really at the height of hypocrisy. he's only concerned, obviously, when it impacts new york city. where he been the past 15 to 16 months where we've had this crisis on the border and you've had states like texas and arizona, california and others, that are being overwhelmed every single day, so mayor adams talks about 4,000 migrants in new york city, and i think that's fine. 4,000 is what comes across the border in texas every single day every single day for the past 15 to 16 months. they have been in this crisis, they have been asking the federal government for help, and so what governor abbott is doing is actually working. you now have big city mayors like mayor adams whose now calling on the federal

government to help, but what he should be calling on them to do is to help to end the crisis and not simply facilitate more and more of these individuals into places like new york city and to have more housing for them. we need to stop the crisis, stop the flow of individuals coming to the united states and that will help cities like new york, it will help cities like d.c., it will certainly help cities along the border. stuart: is i.c.e. deporting anybody these days? >> very few, and they've been told by the biden administration , right, we have chapter of different policy memos and different directions being sent out by the secretary of homeland security directing i.c.e. not to remove individuals in the interior of the united states in cities like new york city and d.c. and chicago and other cities, but you have to remember, new york city is also a sanctuary city so they don't cooperate with i.c.e. and so new york cities been this way for years and years and years. they are a magnet for illegal migrants to come to their city

because they protect them from federal law enforcement so this idea that migrants are just showing up in new york city for the first time in the past month is a lie. they have been going there for years and years and years and the city has been welcoming them. the cartels know this. they direct people there. this is a known fact and so the fact that they're now saying wow we can't handle these migrants coming to the city is crazy because it's exactly what they have been encouraging for the past several years when they continue to pass law after law, they passed one i believe last year that talked about allowing illegal aliens to vote in local elections in new york city, so they continue to encourage this behavior and look , the governor of texas is saying look if you want to be a sanctuary city, i'm happy to help facilitate that. he's also shaming them into actually talking about the crisis that has been ongoing now for 15 or 16 months so this is a first time we have big city governors or big city mayors i should say, that are actually talking about this

crisis, and so what the governor is doing is having an effect. stuart: okay chad wolf thanks very much for with with us. still ahead on the show. dave portnoy, martha maccallum, jason chaffetz and kennedy. by the way, today, donald trump will be questioned under oath by new york's attorney general over his family's business practices. they are coming at trump from all sides to distract you, from biden's failures. that's my take and it's next. ♪ ♪ you'll always remember buying your first car. and buying your starter home.

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sorry, i'm a little busy. what in the world are you doing? i'm in the metaverse, bundling my home and auto insurance. why don't you just do that in the real world? um, because now i can bundle in space. watch this. save up to 25% when you bundle home and auto. call a local agent or 1-888-allstate for a quote today. >> monday is unprecedented, shocking, weaponizing politically, the fbi or the department of justice for personal agendas or vendettas is very frightening for the average citizen. >> is not about the substance of the raid. the political theater taking place while they're using law enforcement to harass. >> i think this economy is heading in the wrong direction it's going to accelerate on the downside over the next few

quarters. i cannot get bullish in the environment. >> monies going to be made in this timeframe it was a make or break for tech stocks. >> large institutional investors who had been on the sidelines are now having to get back in a display capital. >> we go to fear to fear of missing out. stuart: i know the song, they put it on the screen i'll tell you what it is. james brown living in america. 11:00 o'clock. 11 eastern time. it is wednesday august the tenth, take a look at this the dow industrial up over 500 points, that is 1.6% right now and the nasdaq is up over 2%, this valley has held for the last 90 minutes as we open the market 930 eastern.

show me big tech all of them on the upside including meta platforms up 6%. amazon 2%, off about 3%, microsoft 2%, apple 1%, the ten year treasury yield is 2.73%, a big day on wall street, now this as of right now donald trump is being questioned under oath by new york's attorney general. letitia james is investigating the business practices which she described as fraudulent. he said he's pleading the fifth. the monday department of justice at 30 fbi agents to trump's private house, they broke into his safe and checked out his wife's wardrobe looking for documents that should be in the national archive. last month the committee investigating january the sixth tried very hard to blame the right on him. also investigation in georgia about election interference

astro himself said their coming out all sides. fascinating all of this comes to a head three months before elections that democrats are expected to lose. their strategy is lime the former president, making the focus and distract from the failures and his infirmity, they are playing with fire they are weaponizing government agencies to be the political opponents, dangerous stuff. the third hour of "varney" starts right now. ♪ martha maccallum joins us this wednesday morning. welcome back to the show. they better have a very good reason, they better find something really dramatic in that raid were there will be hell to pay. what say you. >> i agree 100%, i think the

political impact, you cannot go on this fishing expedition and going to the former president home and now there's all of the stuff coming out about going to her wardrobe, the arrogance that they displayed according to the people who were unseen we can go in any room that we want you better have something airtight, you better know specifically what she went in for a better be an e-mail, letter, something that they have been asking in every possible way to get their hands on that has been inclined to them. as jeanine pirro a subpoena would've been the way to go. there is a suggestion that merrick garland felt pushed, budged towards a larger action that he was criticized for not doing enough that they january 6 investigation. but what you see, the momentum behind this right now i can imagine a scenario where the

former president says i am running in this moment even prior to the midterms here he said whether he would announce before after the midterm i think is uncharacteristically quiet in the last 24 hours and i don't know why, perhaps we will hear something from him soon. >> the candidates that he endorsed in the in wisconsin and connecticut, they did very well. i have to believe they did very well and part because they don't like what's going on with the raid. >> even people in the middle of the political spectrum say wait a minute this is a former president of the united states there is persuasion that happens. when you living in the country i think it's dangerous, there is a real danger right now were living in a country where people question the motive on both

sides of the political spectrum where people think the agencies are politicized against them and you cannot afford to step anywhere if you're off that line, member susan rice, were doing a buy the book. it's better to be buy the book or it's good to be very destructive by the country not for any particular politician. >> i'm going to leave it right there i would want to this afternoon, 3:00 o'clock, thank you very much for being with us we always appreciate it. >> i always love coming on. >> he can't stay away from the market very long, roaring rally like this one. it is a 587 points for the dow, the nasdaq is up 337. mark tepper with me this morning. i think this is an inflation report. >> i would have to agree with you. i think my take on this, i don't want to be the party pooper but we need to pump the brakes a little bit i think the stock market appreciates this a little

better than the report actually was if you look under the surface while it looks like were at peak inflation three of the four most important items are up year-over-year month over month they accelerated from last month, we have housing, food and wages which are all sticky components of inflation it's great the energy prices came down, a little bit cheaper but not cheap by any means i say pump the brakes the market is overdoing itself. >> overdoing? it won't last? >> i don't think so, just because we may be at peak inflation does not mean mission accomplished as it relates to the fed they still have to hike a lot farther than 3.4% which is implied as the terminal rate right now. >> i want to talk to about the irs, there going to hire 87000

new agents in the white house says no, we're not going to be auditing anyone who makes less than $400,000 a year. i think that's nonsense i think they're going straight after small business. >> i agree that's a bunch of baloney, you weaponizing government agencies this is exactly what they're doing they brought $700,000 available for these agents. in the first six months of the year they brought $700,000 of ammo for irs agent, that's a little scary, this is most definitely going to affect people that make less than 400 grand a year because the bipartisan joint committee already said that 90% of the expected tax revenues that this will bring in comes from small businesses making less than 200 grand per year that is the plumber, the hair salon, the restaurant that were already destroyed by the pandemic

they're getting it crushed again while business coming to you. we gotta get in here with tesla, elon musk says he sold $6.9 billion worth of tesla shares he says that he is raising money just in case he has to pay for twitter, what is your analysis of twitter, musk story. >> this could be an issue for tesla shareholders but the stock continues to rally. it's been pretty good the last several weeks. the fact that elon is selling stocks to raise cash leads me to believe that he thinks he may get stuck buying something he doesn't want. that is my take on it whether that happens or not i don't know what i'd be happy to tesla or twitter right here i would have

to say no i would be selling them as they rally. i think the market will come back down, were at 4200 on the s&p which is absolutely crazy that were back to that level. by year end i see ten, 20% drawdown. stuart: we get so excited. >> in bringing bad energy. stuart: in that case were get a move on. >> the dow is up 575 points, well above 33000, 1.7% gain show me the dow winners, big names, salesforce, goldman, boeing, down, nike, all up better than 3%. norwegian cruise line, carnival, royal caribbean cruise lines dominate the s&p 500, nasdaq composite i don't see the big names there except for netflix

and fox corporation, a strong report from fox today. the ten year treasury yield is 2.74% the value of bitcoin right now, gold 1817 per ounce, the value is $24000 almost on the button. the price of oil down $89 a barrel, nat gas is 798. a gallon of gas getting really close to $4 even. $4.1, that is 1 dollar lower than the all-time high for gas six weeks ago. california you will pay $5.39. netflix "tiger king" wants help from the white house, he needs something directly from the president. we will explain that. when it comes to buying land, mark cuban says save your money. >> the worst part people are buying real estate in these

places, that is the dumbest [bleep] ever. >> i wonder if kennedy would ever buy land in the metaverse, i will ask her because she's on the show republicans pressuring the justice department for answers about the trump raid will that be one of the first priorities if they take back the house and senate? i will ask jason chaffetz next ♪ ♪

♪ if you shop at walmart, you get it. ♪ you know how to spend a little less to get a little more to make life a little better. ♪

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stuart: there you have it the capital of washington, d.c. i believe it was president kennedy the sidewalk up to the nation's capital home of charm and southern efficiency. a little facetious. and i state the capital. the democrats have a lot riding on the reduction act, they got a whole lot riding on it, jason jn chaffetz with me the democrat strategy slime trump and push the inflation climate bills do you think it works? >> no i don't actually i think they totally misnamed that, when you raise taxes, spend hundreds of billions of dollars create an army of people that are good to go out and give every taxpayer an enema i don't think that's a formula people are going to like it i don't think it's going to work. i think people see through that and they will understand their

exacerbating inflation they are not fixing it which is their top concern. >> i wonder if we go to the rate for a second yesterday in the republican primary all across the country trump endorsed candidates did very well and i suspect it was in part a reaction to the raid. my question is did the raid galvanize trump supporters, did it unite the republican party. >> i think it does i think people understand how outrageous it is i think it has an effect on true independence it really sways elections one way or another i think they feel like this is so unfair not only because the raid itself has been unjustified in the former president, they have been prosecuting or persecuting this president since before he was sworn in, with a mueller probe ended up with nothing they kept

talking about russia, everything that the democrats have accused the president of has been a lie in just false. unless they come up with something soon i'm with governor cuomo governor cuomo saying you better explain yourself and explain it really quick. stuart: a better be something really dramatic reading of former presidents private house and investigated the first lady's wardrobe, that really got to me. let's suppose that the republicans take back the house and the senate in november let's do a hypothetical, if they do what do you think should be the first priority for the new republican congress. >> they're going to have to walk and chew gum were get to get the economy moving. as it tempting as these investigations are, you gotta get the economy moving back in the right direction, explain to the american people what you're

doing on energy and inflation and what you get a do to help their individual lives simultaneously you have investigations and i think it's an overarching theme the unequal application of justice. the department of justice needs to be fixed and what they're doing and not doing also i think crime and taking care of the border have to be there. the democrats have prioritized irs agents. the country wants law enforcement in securing the border, that republicans draw the contrast that's what they should be prioritizing with their time. stuart: they did not raid hillary clinton's home after the private service scandal, they would not touch that, jump right into president trump's home. it's overreached by a long way and i think they might be realizing what they've done is they've gone really quiet. the boat on friday will be

interesting to see how some of the democrats who are vulnerable they may get out of that mess, if they're trying to vote no. i was the one the issue the documentation to say hillary clinton you gotta preserve all these documents, she not only them. i was a what the issue the subpoena on the irs regarding lois lerner, they did not preserve they destroyed those documents my after i issued the subpoena, the department of justice do anything? no they didn't. and hunter biden has committed more crimes on his own computer then you could possibly imagine ended silence from the department of justice. >> is unequal sense of justice. unequal, not right. thank you so much for being with us hope to see you again in the near future. look at the market go nasdaq at 312 points. i call that a rally.

amazon rolling out palm reading payment technology. 65 whole food locations in california. shoppers can link their palm prints to a former payment. after that anytime they go to the store all they have to do is hover their hand over a scanner and it will complete the purchase. i have a suspicion mark kemper is interested it does not like the idea. >> this concerned over the security, there was a story we talked about a few months ago with the ccp had access to all of our biometrics to tiktok, that is a security concern, i gotta tell you i went to dave chapelle show over the weekend and as soon i walked in they made us take all of our phones and put it in a fabric bag and lock it up so you couldn't use it during the show. have to pay for his jokes he

doesn't want anyone putting them on the internet. if i want to use apple pay obviously could not do that, it would've been beneficial but it's a bit premature, if you steal my credit card i get a new number thank you steal my hand i'm not skywalker i cannot get anyone. i want to talk to about walmart they may start a streaming entertainment service as part of walmart+ do we need another streamer? is anybody making streaming profitable? >> streaming is way too competitive. we do not need another service right now. i don't think very many if any are making money, right now walmart is charging $13 a month for walmart+ or whatever they call it my guess they're going to take three of the 13 or a peacock or something like that and offer that i don't know if

it's going to work now, amazon and walmart they have different customers, it sounds like taking and low profit margin business and making even less profitable. now we know how you feel, member then netflix show "tiger king" joe exotic once the president departed his been in president from january 2020 for murder for hire and in noble abuse charges, they say he is innocent and he wants president biden to pardon him soon. you think is going to get a pardon? >> i really don't care it was an interesting show, he enlisted the wrong guy jesse, apparently he was on 90 day fiancé if he really wanted to get the pardon he needed to go through hunter

and he needed to get 10% of the $20 to the big guy. stuart: i admire your sense of humor. that was very good. now look at this robots stocking the shelves at grocery stores in japan, that's what they look like there they could be coming here, will tell you all about that the media treating trump raid like something to celebrate. >> this is a night where you will remember where you were. >> this is a historic day. >> that is all good news. >> kennedy will join me shortly she always has a lot to say. ♪

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♪ ♪. stuart: that is clearwater beach in florida while we play that song, why are we play in that, to date durand durand

appreciation day officially that is the title, if you like to reenter van and all the other music follow us on spotify you can scan the qr code, a new playlist every week, i am told that they stay on and you can reach back forever it's like a free music service that we offer. >> you play great music you mix it up a great variety. i want to talk about the market to help with music. 500 points from the dow industrial, 317 for the nasdaq we have a nice inflation report that showed inflation cooling a little, you're going to throw cold water on this. >> it's good it looks like inflation has peaked we will see what next month's reading is but when i looked under the surface housing wages, food, accelerated

month over month and year over year that is the sticky part while inflation may have peaked, we still have a long way to go, no one cares about used-car speed down substantially, travel was down substantially and i'm wondering is that because people don't have enough money at the end of the month to pay for discretionary items like hotels and airfare, when you look at it line item by line item it doesn't look as good as the headline reads. stuart: you don't have to get carried away with euphoria of the day rational analysis works wonders with me, the media celebrating the fbi raid at former president trump samara lago. >> this is never been done before in the history of this country he would not have authorized it unless they had significant evidence that a crime had been committed. >> this is a night where you going to remember where you were. >> that kind of information you could see why merrick garland's would take decisive action.

>> that is all good news. stuart: kennedy is here. >> notorious, durand durand appreciation day, i figured i would sing a song. stuart: i've never heard of that before. the media cheering the raid, i think that is sick. >> is really dangerous. this is a bad road from our country to be headed down merrick garland better hope they have something significant otherwise this is a gross abuse of power and a massive law-enforcement overreach. those of us who keep our eye on things like this mass surveillance and abuse of power in several law enforcement, these are the types of things that we warning about. this is when too much power bears fruit.

it's too easy for someone who runs a justice department to sign off on the first-ever raid of a former president home, this had better be battle plans straight up espionage with russia it's gotta be something incredibly precedent-setting in order for them to do this. if it's a new precedent is bad news for both parties. stuart: if they haven't got something good there will be hell to pay, i don't know how it'll be paid but there will be all kinds of things happening. you want to talk about mark cuban. >> i don't know if i have a choice. stuart: you don't have a choice, he sounded off on buying land and the metaphors. listen to this. >> the worst part people are [bleep] real estate in this place, that the dumbest [bleep] ever. stuart: he says that how he sees

it. >> it's so cool, he swears. stuart: he so cool. would you buy land in the metaverse? >> no i want real land a real lake, there is a theoretical nonsense it may be fine for shutting but for those of us that want to be in nature and live our lives i want an actual house. stuart: i understand the appeal of the metaphors, you put your goggles and your a different world and you control the different world. what i don't see is paying money, real dollars for metaverse land which actually doesn't exist other than the metaverse. >> this is the same thing as the nigerian boy that keeps e-mailing me he needs $3000 and that i'm going to get 3 million. one of my family members i never knew and vested a bunch of money and won the lottery in nigeria and kenya. it's going to be a windfall those of the people that fall to

pray like scams like that they're buying land in the metaverse. it's not land i'm going to sell things in the metaverse admitted to plastic surgery. stuart: have you ever gone on these? >> no i'm scared i'll never want to come back and i won't get to sit next to you. >> if you were the goggles you don't get seasick. >> i have enough going out on my daily life i don't need seasickness from fake real estate. >> we dispense nicely with the rate in the media's response not to mention mark cuban and his metaverse, i think he dispensed a lot, nonetheless we will watch your show. it is called kennedy it is tonight at 7:00 o'clock eastern. >> weldon, casual dining restaurants, ihop for example are seeing a boost in business from wealthier customers, those

two restaurants drew 6 - 8% in the second quarter and that's among households earning $75000 a year wealthier americans changing their dining habits. >> this is what we call the trade down effect but if you look at the story this is cnn calling wealthier americans anyone with a household income of 75 grand and above. i would consider that middle-class i don't know if that's rich or wealthy but that's what they call it households making less than 50 korean did less business with the restaurant they might trade down to a aaa or a mcdonald's, this is what happened when economic growth slows, you see them trade down for goods and food that cost them less. stuart: what do you think of as wealthy. >> i'm still waiting to find out i want to be a billionaire.

they did a study were 93% said they did not want to be a billionaire. i think we should push the boundaries of what wealth is and encourage people to have a rich life at the same time. i think you're absolutely right, that is also where it expresses themselves like airline tickets. if you think the money is coming fast and loose your goodie go into debt to have a great trip. if you think recession is coming that's when you stop taking uber, your going to walk more instead of going to a fancy restaurant you're going to go to applebee's. they have a great bar menu. stuart: all of our right there. check the crypto's. we have movement up $24000 a coin on bitcoin. dave portnoy is trying to get me to buy into the hype for over a year he can keep trying he's wanting me to get into crypto and he is coming up next.

farmers sounded the alarm about the nation's food supply they say inflation in climate proposals could put farms out of business which means less food on the shelf. we have a report from a farm in tennessee next. ♪ take you for a ride ♪ ♪ on my big green tractor ♪ ♪ we can go slow ♪ ♪ make it go faster ♪ ♪ if you used shipgo this whole thing wouldn't be a thing. yeah, dad! i don't want to deal with this. oh, you brought your luggage to the airport. that's adorable. with shipgo shipping your luggage before you fly you'll never have to wait around here again. like ever.

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stuart: robots replacing human workers at hundreds of grocery stores in japan. the robots can restock a thousand bottles and cans on store shelves every single day. japanese grocery stores and vested in these as a solution to the worker shortage and there is plans to bring those to america. do you think the robots are the answer to a labor shortage? >> there is really not just a labor shortage, productivity is also falling so people are

getting paid more money which is an issue. i think you gotta be careful what you wish for there are a lot of people that wanted to make $30 an hour for $12 an hour job where a business might be a little more efficient by paying $12 an hour for the robot plus maintenance and you're still driving more money to the bottom line. farmers sounded the alarm over climate policies. madison all worth how to dairy farm in chapel hill tennessee, what is the deal with climate rules. >> we see it play out across the world several countries have severe limitations on the agricultural industry like limits on nitrogen admission. the challenge is making the job hard for farmers, we see significant protests in the countries, when you look at the biden administration they talk about similar initiatives in place which would create problems for farmers we're live

at the dairy farm in tennessee they have been ranching cattle for four generations they have 1100 counts that milk on this property alone. that family moved from california where they were over 70 years to tennessee to escape soaring overhead in government regulation, now the conference or about more problems coming in with the new climate initiatives. it the fourth generation farmer with this farm, when we look at what's happening in europe in the similar actions in the u.s. what did that have on yours in food source in america. >> american should be prepared for food shortages. the green new deal the biden administration continues to tackle and push on americans is not healthy for our environment the trying to push plant-based and there is an attack on family farmers and ranchers 25% are out of business and 90% are out of business and we imported 3.3 pounds of beef from other

countries alone there is a food security problem in the united states and we need to tackle that with supported agriculture. >> we were talking earlier about the bill that looks like it's going to make his way through congress to focus on on cutting emissions, right now there anything that focuses on at water admissions like in agriculture compared to other industries and what impact his avenue guys. >> agriculture is less than 11% in the country transportation be 20%, electric 25%. when you look at the push for electric cars it doesn't really make any sense. there get continued to say agriculture is the problem and we are hurting the planet but were trying to sustain food supply for americans to protect the food security in the united states. >> on top of this higher cost of labor and fertilizer and is never easy to be a farmer but they're worried it could get higher. stuart: they also have to deal with cow flatulence, whether you

like it or not, thank you for joining us. the next case players who joined the golf league cannot compete in the pgas post to her. dave portnoy takes that on next. ♪ i didn't really piece together that dogs eat food. as soon as we brought the farmer's dog in, her skin was better, she was more active. if i can invest in her health and be proactive, i think it's worth it. visit betterforthem.com

stuart: a federal judge has ruled players that join the liv golf league cannot compete in the pga which start this week. dave portnoy joins me. how do you feel about this new league, the liv golf, do you supported? >> i would not say i supported, if you like golf is one of the best players playing together as a fan. if liv wanted to pay me a trillion dollars i would go to that league so fast it would make your head spin. i don't have a moral agenda shane, the kaiser china play them both they want to have their cake and eat it too they made the decision in they knew they would not be able to play any other in the making a ton of money. stuart: i would've thought you would've liked the liv to her they changed their rules, 54

holes they played loud music around the course all kinds of things i thought you would be a big supporter something new in the sport. >> i don't know if i got complemented or insulted by that golf has been around forever. if you look at a baseball or football i don't want a league that changes all the rules i like golf like everybody else likes golf i like waking up taking a couple snoozes and watching the final 1854 holes i like music and cheering but they changed all the rules and i want tournaments with all the best players in the world, i get what they are doing but is not good for the fans nobody can argue that liv is good for the fans is good for the individual players. stuart: you sound like an old -- i'm sorry. >> you meant that as an insult you are insulting me. >> i was having fun with you

like we always do, come on smile. stuart: you have a very good smile. i've seen this video little league, world series hugging the picture after he hit him in the head with a baseball a lot of people like it it's good sportsmanship why do you take such a different view? >> i'm in the page view business i went very viral because they said this kid should've stayed on first base, he is fine the kid was fine he's at first base and he goes up and gives him a hug and kisses best friend meanwhile the bases-loaded 3 - 2, weight put this kid out of his misery you go to williamsport for a lifetime memory, i know everybody loves it i was being sufficient i went viral on the internet that's what i do some people have no sense of humor the kid was fine.

hug them after the game. stuart: your all thought but you're honest. you're being sued by investors at safe moon they say you pumped up the coin and dumped it, what is your response questioning. >> i'm getting sued this guy brent hatch the son of orrin hatch, he wears a bowtie 24/7 which means you're hiding something. i bought safe moon i never talk to anybody part of safe moon. i was never paid a cent to promote safe moon. i put my own money into it i have $2000 left i have not sold any. i said i was getting involved in it and i also said it could be a scam invest at your own risk i got murdered i should be on the other side of the lawsuit but this guy brent hatch didn't do an ounce of research he showed up knocking on my door and

somebody should go to prison for knocking on my door that early. stuart: i'm glad we know how you feel about this. i know you are hosting an amateur boxing fight night next week in west virginia it is rough and rowdy i heard about it. i got a suspicion you're get a jump in the ring and compete. you will be like jake paul. i have a bad shoulder, never we put the fight on we've been doing this for a while it's the best $30 you can never spend and we almost beat all of these rough and rowdy we've done it for a long time i'm a commentator half comedy half boxing and half chaos. stuart: who is going to be at the rough and rowdy night. >> we have our own employees alex bennett is a girl who is

fighting in doug that weighs 9000 pounds he's been losing weight to fight it myself, big cat, robbie fox is about 30 fights we've done a lot of things some work and some don't i've never heard anybody complain on rough and rowdy is really great entertainment for two or three hours. i'm the guy that pays the fighters. stuart: you are smart read always a pleasure having you on the show you are august. you bring an audience because you always say something quite dramatic and you did again today. thank you. it is wednesday 1155 eastern and it's time for the trivia question i like this one what is the longest bone in the body the humerus, the tubular, the tibia that shinbone or the thigh bone. the answer after this.

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stuart: all right. we asked the question, here it is, what is the longest bone in the body? okay. humerus, fib yaw, tibia, what have you got, mark? >> eyeballing my leg under the table i will go with femur. stuart: i think the correct pronounciation is femur. see? >> there you go. no matter how you say it.

stuart: femur. that is the high bony way you slice it. the average adult male femur is 18.9-inches in length. that is the longest gone bone in your body. got it tepper? >> got it. stuart: we appreciate you. >> thank you. >> with the market up 500 points on the dow industrials this is appropriate moment for me to hand it over, jackie, here you go. it is yours. jackie: stuart varney, i gladly wake that. hopefully we raise it more. good afternoon, everybody, welcome to "coast to coast." i'm jackie deangelis in for neil cavuto today. we have a lot to get to in the next two hours. is inflation really cooling? prices are lower than expected and market is jumping on the news but are americans feeling less pain in their pocketbooks? we're learning more about the raid on monday night. fox is told that the fbi would