was looking at his resume and he had no relevant work experience for what i do but he worked at pizza hut, a chicken finger fast food place and i like this is impressive. he has work ethic. what happened to that? >> this administration has become like oprah winfrey, you get a bailout, you're also going to get bailout. >> it is in problem solving. >> thank you. three hours. appreciate it. somebody else i know works really hard and i'm assuming also didn't get a bailout, that would be ashley webster. >> no. i want a bailout. good morning. great to see you, good morning, everybody. i am ashley webster and for stuart varney. a top fbi agent facing accusations of political bias, out of the agency. timothy tebo resigned just as republican lawmakers zero in on

allegations he tried to interfere with the hundred biden laptop investigation. miranda devine says he's one of many agents playing these political games. she will join us in the 10:00 a.m. eastern hour. vice president harris joined the chorus of white house officials just can't seem to answer the question everybody is asking -- who will pay for the $500 billion student loan handout? simple question, no answer yet. president biden by the way will deliver a primetime address to the nation thursday from pennsylvania. it will be about the battle for the soul of the nation. he's used this phrase in the past to describe the fight for democracy in the face of what he labels extreme opponents. this is a week after he labeled mega republicans as semi fascists. so much for the unifier. a relic for a couple of days of down action on the markets, you can see the dow up 111 points in the premarket and s&p up about

half a%, same for the nasdaq. can we hold onto it? will see. let's look at the ten year treasury yield above 2% but on the way down ever so slightly but still 3.09%. inflation fears pushing oil prices back down, we saw the price of crude down more than $2, seven 74 crude. a big show ahead. sean duffy, bryan kilmeade and will came, a few of the names stopping by today. it is tuesday august the 30th, 2022, varney & co. about to begin. ♪ we are ready to go.

sixth avenue heading down toward central park, a busy morning as you can see, let's get started starting off with news on the housing market. lora, good morning. you got the latest on the case, home price index. one of the numbers telling us? >> significant price moderation and home pricing. this is for june is a little backdating but prices rose obviously .4% in june from may but that was down sharply and they rose 18.6% from last june, still significant bump but much less than april's records, both over 20%. bottom line, moderation as the market cools off. >> prices decelerating not the case for rent out there, rents are heading up. >> new records, median national one-bedroom stanza $1486, that's

up 11.8% from this time last year. most cities in the country are seeing double digit increases. if you live in new york city, manhattan specifically, $4200 a month. that's for a one bedroom and no wonder, eight and half million people are behind on their rent, 45% of them, 3.8 million people say they think they will be evicted in the next two months. most landlords will work with tenants, some will negotiate down the rent, some use credit cards to pay but some simply do not pay or cannot pay and eviction is what happens. >> not good at all. thank you very much. as we check futures, the doubt s&p and nasdaq, we see green in the premarket after a couple of days of red, let's bring in

david nicholas to talk about this. good morning, david. where you see opportunity? i read your note, you have the energy play for investors, do you think that could still be strong? >> i do. it's a good time to be balanced, whether it tech or value, i think energy still makes sense. if you look at the names we own like exxon mobile, you can buy these today and get healthy dividends, three and a half to 4% dividend but you and lauren were talking about rent, that's our blackstone so blackstone has been fine, $30 billion this year buying real estate. a lot of those were apartment complex. here's what i like, i hate that rents are going up but apartment or inflation proof, if you want an investment play on the apartment sector, i owned it personally, client own it and it pays 6% dividend so that's the name i feel you can do pretty ws

of volatility. ashley: let's move on, we will talk about elon musk, he says we need to keep using oil and gas for now. i'll get your comment, david. >> otherwise civilization would crumble so for civilization to continue to function, we do need oil and gas and i think especially these days with the russia sanctions, we do need to provide oil and gas to pre-keep civilization running. any reasonable person would conclude that. ashley: i wonder if he takes that band around with him wherever he goes. he's a leader in the green energy field, it's counterintuitive. what you make of his comments? >> you are right but he's spot on. i love to live in a world where i have a solar panel on my house and charge my electric vehicle for 30 minutes, vanilla latte and head out the door but we are not ten years from that or 20

years, we are probably 40 years from that reality. that will take a lot of oil. look at home here, and administration shaming oil companies, some of the biggest banks that will make investments and oil companies. that's crazy. europe is destroying itself, it's crazy to me that germany wanted to eliminate all of their nuclear plants this year. they are putting a lot of that on hold but we are seeing what's happening in europe. if you want to know what america looks like 20 years from now, is what europe is going through right now if we don't change course so elon musk is spot on, detriment, he's right but our world needs oil at least for four decades. ashley: very good. we have to leave it there. thank you so much for joining us this morning. now this. joe rogan offering advice to people upset with the handling of the covid-19 pandemic. listen to rogan.

>> i hope there's lessons learned, no one alive today ever experienced a true pandemic. i am hoping now that this is over people are going to recognize serious errors were made and not repeat those. that's the best you can get out of it. >> would you tell those people? >> vote republican. [laughter] ashley: all right. he's laughing but sean duffy is here. good morning. do you think rogan has points? if you look back at the different policies and different cities, wide open florida, shut down california and new york, does he have a point? >> it's interesting, he didn't take debate and didn't want to get involved at all in politics. a democrat there. joe rogan, a bernie sanders supporter and here he saying vote republican i know so many people were like i am a

democrat, a liberal but i also believe in freedom and joe rogan makes great points, you look at the authoritarians who came in who were science -based, driving masks on kids, forcing vaccines onto the america people, forcing people to lose their jobs not allowing them to make decisions for themselves. if you want to get this right in the future, i think people have to be held accountable, a political price paid for the party that took away people's freedom and that is the democrat party so he's saying don't let this happen to you again, make them pay a price at the ballot box, vote republican and they'll never do it again because the american people don't stand for it, authoritarianism. ashley: exactly. i want to get onto this, the white house doubling down on its claims of former president trump's maga policies are dangerous. listen to this. >> the president has been clear

congressional repugnance extreme maga agenda you heard him talk about last week is a threat to the rule of law. the maga republicans attack our democracy. we seen maga republicans take away our rights, make threats of violence including this weekend. that's what the president was referring to. ashley: extremists. your response to that? >> the republican headquarters bond and they are called fascist? the pro-life centers that have been, cocktails thrown at them. here's the deal, make america great again is a movement that says let's put america first, our people first. we believe in hard work, patriotism, we stand for the national anthem and salute the flag. what america to be a great place and follow rule of law. look at democrats and whether it's the weapon icing of the

d.o.j. going after conservatives, that's and like democratic or the pandemic and rules they put in place, authoritarian rules, antidemocratic. also what's happening in elections matters. we believe we should have secure elections, one person, one vote and they are pushing policies that say you don't have to show an id, just send your ballot in the mail. we don't know who you are but that's the way our election should be run and they think they will promote democracy? give me a break. i don't think the american people by this, they do believe putting america first is a good thing, they look at the results of donald trump and his policies are short two years ago and there like there was some mean tweet but it's beautiful. donald trump, look at covid for a second, he sent power back to states. let them make decisions for themselves. the radical authoritarians what

some of fascist, they consolidate power in washington. that's what democrats did, that's what joe biden did. he's accusing repugnance of what he was doing himself. ashley: we are shaking our he heads. you can't make it up. sean duffy, great stuff. thank you so much. thanks for joining us. look at the futures. we head to the first break here, we are on the up, can we hold up s&p and nasdaq a third to half a%. coming up, governor of new york kathy hochul facing backlash for recent comments about kicking out republican new yorkers. roll the tape. >> we are here to say the era of trump and sales and jump on a bus and head to florida where you belong. get out of town. ashley: you've done a great job in new york, i wonder how nicole malliotakis feels about that. she'll be here to talk about

that the white house refuses to stay who will pay for the education handout, one 100% illegal. after the break. ♪ another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation

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so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now, there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating, and losing weight. go to golo.com and see how golo can change your life. that's g-o-l-o.com. ♪ ashley: as the summer winds down, some of us have time, you're looking at south car carolina, that's a beauty.

a little cloudy along the south carolina coast. 76 degrees. love the music play on the show. many people talk about it, follow us on spotify, search varney & co. or scan the qr code on your screen right there you can listen to a playlist. look at the futures after two days, maybe we can start the day, markets open in about 12 minutes, free markets showing the dow, s&p and nasdaq anywhere from a quarter of a% to have a%. now this, vice president kamala harris dodging questions surprise surprise, on who will actually pay for the student loan handout a listen. >> a lot of the same people criticizing what we rightly did to forgive student loan debt are the same people who go before

tax cuts for the richest americans. 90% of the people who benefit from student loan forgiveness they under $75000 a year end that has been the reason they are unable to start a family, by home and the american dream. ashley: okay. still don't know how we are going to pay for it. hostages no more, former education secretary betsy devos is with us this morning. who you think is putting footing the bill? >> well, it's very rare to out of three americans -- all americans will actually own student debt this plan goes through. two out of three americans never took out student loans or didn't attend college. not even the students who faithfully pay down their debt or veterans who earned their tuition. she can't answer the question because she doesn't want to answer the question, she knows

it politically a poison pill, a payoff on one side but hopeful votes but on the other side, they know this is ultimately a political loser. this is nothing but a ploy to try to help get votes in the november election. ashley: your certainly not the only person is pointed that out. how would you describe the state of public education? we come through the pandemic, where do we stand right now? >> it's clear parents have -- they have a front row seat on what was happening in many of them are not happy with what their children experienced, what their children are being taught and they are taking matters into their own hands. they are also helping spur momentum behind policies that are going to support parents and families making alternate choices and finding alternate

options if their assigned school has worked for their child so that is a silver lining to the pandemic. as harmful as it has been two children, the good side is we are seeing states embrace policies empowering families as they should be to make the choices for their children and school choice, education freedom is on a roll and it will continue momentum because the status quo continued to double down and not listen to parents or families. ashley: what would you say about the future of the public education system as we continue to see enrollment fall? >> we've seen more than 2 million children leave the public government run schools for alternate. i like to refer to public education as any education, any environment that prepares kids, young people to be leaders in

the next generation. that's truly public education, doing the public service. it is a good thing to see these other choices and options develop whether they are more homeschooling or micro school options or one room schoolhouse type approaches or faith-based schools that have been on the brink of closing but now have the option of taking in children through policies that support that. there's a wide range of choices and options families can pursue if given resources, the resources attached to their children and make the choices and decisions for them. ashley: and quickly, we have a teacher shortage crisis, so many are quitting, getting out of that yield. how do you fix that? >> it's understandable based on what they've gone through the last couple of years even before that.

education freedom for teachers will be the best thing because each of them will be able to find an environment they can thrive in themselves where they can help their students achieve their fullest potential. it is a win-win for teachers, families, students, education freedom is the direction we ultimately need to go in this country. ashley: thank you so much for joining us this morning. betsy devos, we appreciate it. a quick look at the futures, futures pointing higher. the opening bell is coming up next. ♪

let's check with our good friend mike, we are up in the free market, how about that? my question to you, are we going to test june lows or we do we hold there? how long is it going to be before we can get something to kickstart rally? >> great seeing you. a lot of it depends on what we

hear, if we hear anything out of the fed that would spook the market again. if we don't, i think the bottoms and, i think will hold this level on the s&p 500 which is kind of a critical level here around the 4000 level. we hold that, i think what pushes us back to new highs is the fact that a lot of the negatives are priced into the market so we came out of a solid earning season so you will see a lot of hit the market in the last few days powell's comments, i think buyers will come back to the market, maybe not this week because people are on vacation but a lot of people on the sidelines are waiting for a reason to buy and i think they will come back into the market next week. ashley: we had an earlier analyst who said it's a state dependent market, be careful what you wish for because good economic data equals larger rate hikes meaning we need weaker data in the hopes that will turn

dovish but we could be in a recession, it's a dilemma. >> it is but from my seat, the good news is bad news, trying to figure that out, that goes over my head. i want good news, strong u.s. economy and i'll take what comes from that but don't give me the bad news, give me the good news. ashley: everything goes over my head. is there any particular area you like? we hear about big dividend planks, anything else you like? i think it's important right now is not the time to try to start rebalancing your portfolio are running into energy or diffidence realistic with what's been working and continues to work. big tech, he saw the earnings. big tech is innovating, they are growing continue to put up great numbers quarter after quarter of a stick with that.

for this market to hit new highs, it's going to be led by big tech. ashley: say something like apple with 162, do you like that? >> i do and anyone of those, a great place to be and that's where you will be rewarded. ashley: as always, great stuff good to see you. we get ready for another day of market ratings, friday was a washout. yesterday we finished down ag again. down 45% in the last few days. there you go, betty is flying. let's get the state underway. the dow up 105. right out of the gate. look at the dow 30, nike sales, boeing at the top. energy plays lower, chevron at the bottom, let's look at the s&p. s&p showing the free market, a third, exactly where it is.

thirteen points, s&p 4043. look at the nasdaq taking a hammering the last couple days. have a%, 12,000 82. let's look at the big tech numbers. apple 162, amazon 1%. also but up half a%, same story for microsoft. elon musk taking another step terminate acquisition of twi twitter. what he's saying now. good morning. >> elon musk amending his filing and adding in the whistleblower complaint, he's now alleging breach of contract for twitter, outright fraud which gives him the right to walk away from the $44 billion deal, twitter has responded saying no way, close a deal on initial terms, 54 -- 20.

whistleblower alleging twitter had more on the platform, even incentivized turning a blind e eye. now some severe security lapses that were alleged that could pose as a national security risk and the whistleblower says one or more spies worked at twitter so a few amended filings, elon musk could delay the trial in october, he could unearth more documents and could bring twitter down to a lower price and probably take over or musk could possibly walk away with lower damages. i think it was a $40 right now, obviously the upper hand goes to elon musk with the whistleblower complaint. ashley: let's move on to apple, the big launch event over a week away and what's this about four new iphones? >> you usually get for new iphones each year.

i'll throw in a new apple watch anticipated and every september 2012, millions watch online or live so it's expected upgraded camera on the new phones, the a 16 bionic and also no more many foes so a regular large 7-inch phone which i'm excited about. a new watch, wearables are a force of 100 company on its own. the event is called far out, you have people on wall street figuring out what that means. augmented reality which could be a new intro for the first time in close to a decade. it's also important to note this is apples launch event and is taking place a week earlier than usual just in time for the start of the nfl football season. also wall street is saying okay, apples favorite to get the nfl

sunday ticket, the announcement before them, they could pay about two and a half billion dollars on a sunday ticket. traditional broadcast and cable, they should be really concerned. we have two pocket tech companies that don't play by the same rules on these multibillion-dollar sports. ashley: two and a half billion dollars a year. >> that's a billion more than what they were paying among when you have that much money, you could be paying a lot more. ashley: that's tough to compete with. we have companies reported before the bell. let's begin with best buy. >> best buy polling for 2025, that's despite the sale season. they did really well in the spring, made more money and sales, comparable sales of foot traffic dropped less than expected so the american consumer continues to spend on high-priced items and electronics. i want to show google reporting

here, better profit and sales in the springtime strong recovery and sales and cloud despite the zero covid policies and lockdowns taking place there. the audit and whether or not they will allow these chinese companies to stick around. ashley: all right. another company with a lot of bees, bed bath & beyond, they are going to unveil their turnaround plan tomorrow. what can you expect? >> new stock traders pile in helping for a new strategic plan, turnaround sales. wall street wants to hear about cash and building up a cash pile and whether or not they are competent to ship the goods again to the home goods retailer. bedfast is on the verge of getting a lifeline of $400 million in alone so that will be good for them.

ashley: it will indeed. let's look at tv makers, titus biggest electric vehicle maker having battery production is issues? >> i think this story is the oracle of omaha. warren buffett turning 90 today, he was born in 1930 and still making a lot of money. ashley: the energizing bunny. >> my goodness. $40 million, he still owns 20% but the oracle of omaha for a reason. he's made six 100% on his initial 2008 investment, that's $8 billion stake he still owned their. i want to show you this, we talk about tv makers, the hot stock and they are filing for a shelf offering to raise up to $8 million, electric car maker said they had no plan to sell any security at this time but elusive has been reducing the

amount of cars they will make this year end even elon musk comes in to say great to say you will make the cars but actually making the cars in production is a tough job. ashley: yes. and he would know. great stuff, thank you very much. let's look at the big ford -- call it the big bird the other day and i'm not sure why. ninety-nine points, we will call it 100. up a third of a%. let's look at the winners on the dow as we look at the 30 stocks we can show you boeing is up there, up too and a half%. nike up nearly two. american express of about 1%. 3m up close to 1%. s&p 500, best buy, we talked about them, they are up 6%. cruise lines, carnival, norwegian both of four or 5%, not bad at all. nasdaq, up 3%. it was down yesterday. netflix of 2%.

paypal one and a half%. coming up. remember the stock around the world? chris rock was asked to host the oscars but is he up for the job? will tell you what he has to say. would you take out a loan to buy this week's groceries? inflation forcing some to turn to the buy now pay later options and is leading them into a pile of debt. more on that coming up. president biden is on the campaign trail and will give a speech on the soul of the nation ahead of the midterms but is he going to invite her for the divide the country? will cain will take out on next. ♪

ashley: let's look at the markets, we are in the green after two days of selling, the dow, same story for the s&p and nasdaq, can we hold it? we shall see. president biden scheduled to make three stops in the key swing state of pennsylvania all in the next week. what you going to be doing, doing out? >> is busy. the prime time speech on thursday, he will escalate extreme maga republicans let's call it, refrains the democrats midterm message as a battle for the soul of the nation, core values are at stake. he delivering the prime time speech in philadelphia where dems outnumber republicans seven to one have that, he'll be in later today and speak about gun safety and next monday in

pittsburgh for labor day parade. three stops in the swing state of pennsylvania, seven days where there is a key senate race there between john federman, the democrat is a republican doctor oz. ashley: interesting race. thank you very much. bill joins me now, you are a fighter for george w. bush, what you make of president biden's upcoming stops in pennsylvania? you see an effective campaigner? >> two things. pennsylvania is important. it's important for the control of the senate for this year's election and also battleground state in a presidential race. second, i think he wants to appropriate the backdrop for his fight for democracy. he thinks either blinken facing down the south or fdr, i think

he has to do that, his policies have not been seated and therefore what does he have? he needs trump to be in his p play. ashley: it is interesting, the administration's shield the president when you compare him to donald trump in front of the camera every day as long as he wanted, he's been out vacationing, he's not around a lot, what a surprise you -- it's been 200 days since joe biden sat down for a televised interview with the media, that is remarkable. >> well, the media is the third line of support. they go soft on him. imagine if trump called someone semi- fascist. it would be a story for days. first of all, to define fascism which i don't biden can, they

would be all over him but especially when promoting unity. that is the important thing about the attacks on trump. they are not just attacks on trump, they are attacks on trump voters just as hillary calls them deplorable, now they are semifascist. we may find out before the end of this week there's something else. ashley: right. midterms are 70 days away. ben shapiro issued a new warning to republicans, he says is a reason democrats are eager to keep trump at the center of the conversation. half of independence day trump is a major factor in their vote and breaking forth to one for the democrats. republicans shouldn't play that game. if they do, they are cruising for a bruising. do you think he's right? >> i think he has some points, if the future of republican

election becomes about trump, we can't win because that's a look at the past. people want to know what you're going to do for them in the future. but where i slightly disagree, i think the answer is for republican candidates not to repudiate trump but be them. show you have an agenda that is appealing to the republican voters. the problem with so many anti- trump focuses is all they have is announcements. they don't have a better play. i think some could beat him, i think desantis is showing how to do it. don't denounce him, certainly don't denounce his voters, just come up with a better agenda and let the voters pick. ashley: talking of desantis, he's got a new op-ed entitled trump endorsement versus desantis of endorsement, both one shots in primaries including florida governor school board

elections which is interesting. we will see does better in november says the headline. who has the bigger influence right now, desantis or trump? >> i think again, it depends. trump in primaries really propelled guys to the top but is whether they can defeat democrats and opposition. that's still out. desantis intervenes in the school board election on the basis of his agenda and building a coalition and he was wildly successful. i think that's the way you expand the republican party, and agenda, not personality. ashley: very good. we have to live there. thanks very much, good to speak with you this morning. ashley: now this story, republican office in florida being vandalized. what happened? >> is in orlando suburb, the

word fascist on the glass window outside and glued the door shut. the police report said there's no surveillance video to look at him a it's worth $700, the focus of the group in the building electing governor desantis senator rubio but increased violence, vandalism against republicans at the supreme court decision in roe and now this. ashley: you said the word fascist going back to president biden, the great unifier. thank you very much. coming up, inflation being the top issue in november, republicans and democrats are duking it out over who has the better fix. we will have that report. then there's this, remember kim kardashian's advice to women in business? take a listen. >> the best advice for women in business, get your -- up and

work. it seems like nobody wants to work these days. you have to surround yourself with people who want to work. ashley: what's wrong with that? a new video shows she was mortified over the backrest she received. we will bring that to you coming up. ♪

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inflation is the top issue among voters in november and both democrats and the publicans are pitching different solutions to the problem. hillary is on capitol hill, hillary, democrats are pushing for even more spending. have a got that right? >> you do have that right, battleground states pushing for more stimulus ahead of the midterms and some states are already cutting checks offering tax-free. pennsylvania, democratic governor pushing for $2000 in direct payments to help people handle inflation. new mexico residents are getting their relief check on up to $500 in the mail, the program to help people pay for higher gas and

grocery prices. colorado eligible taxpayers get up to $1500 back on the taxes by september. some incumbents facing competitive reelection races like senator mark kelly are laming corporations for high prices. >> as families struggle, oil companies earn record profits. corporations taking advantage of prices, it's price gouging and wrong. >> of the democrats hoping to get elected like lieutenant governor john federman in pennsylvania are also blaming businesses. he's saying working people in pennsylvania need more real solutions, solutions that will fight inflation and bring down costs for working people whether at the grocery store, pump or doctor, we need to crack down on massive corporations ripping us off. he's facing against doctor oz in the senate race, leader mitch mcconnell cautiously optimistic about publicans chances to win back the senate majority posted a fundraiser saying he's

confident he will win but he says republicans will put a stop to government spending that republicans say is driving prices skyhigh, not businesses. >> not have any more of these bills and if the america people decide they want to go in a different direction, i can assure you republican house and senate or house or senate will not be interested in passing more of these mass spending bills that created the calamity we found ourselves in. >> the dnc plans seven-figure at biden campaign on what they have done to fight inflation. one inflation reduction act that includes a lot of taxes and government spending. ashley: very good, hillary vaughn on capitol hill, thank you very much. coming up, miranda devine, bryan gill made nicole malliotakis. on varney & co. next

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♪ ♪ ashley: you're looking at midtown manhattan. beautiful morning. some clouds in the sky. lots of blue skies as well. good morning, everyone. it is 10:00 eastern now. i'm ashley webster in today for stuart varney. as always, let's get straight to your money. we were up out of the opening bell, 30 minutes later we are

down again. modestly but nevertheless red now green and the s&p down two tenths and the nasdaq one tenth after two days of a substantial sell off. the nasdaq lost almost 5% in two days trading. ten year treasury yield, that is down 3.08% though. down marginally about two basis points. take a look at oil. oil too has been under pressure. down a little bit and continuing to be down $4 now, down more than 4% at $92.89 a barrel and bitcoin, where are we on bitcoins? been right around that 20,000 level. it's up $99 at $20,289. now we have data for you. we have latest read on job openings. the number, lauren. lauren: so, 11.239 million jobs were open in the month of july. this is a little tricky because it was -- it was more than the

june number but less -- wait. more than the expectation. i'm sorry. more than we expected. still, a lot of jobs are open, basically double the number of people looking for work. the number of people looking for work in july is 5.67 million. the quit rate stayed the same, about 2.7, 2.8%. consumer confidence, ashley. ashley: yes. lauren: much stronger than expected. we saw inflation and gas prices come down, consumer confidence coming in at 103.2 versus the estimate of 97.7 so that was the first increase in four months but also much stronger than expected. ashley: a strange number actually. you wouldn't have thought the consumer confidence was high with interest rates rising but, hey, that's what they say. interesting. thank you, lauren. lauren: gas is cheaper. ashley: that's true. way off the $5 a gallon. a good person for right now is

scott. over 11 million jobs open, scott. double the amount of people looking for work and the job market is still out of wack, let's put it that way. what's your reaction? >> i would have said that too, but i think it doesn't make sense to me. i mean, the situation that we've had two contractions coming to the gdp in the last two quarters and having that many jobs open that we can't fill. that number, that's been an outlier this entire time. it was way more than the expectations and it's way more than it was last month so until i can get a good read on that number, i think a lot of folks lighting up my social media saying we don't understand this number, i don't understand that number. you'd think if there's two jobs for every one person looking, there wouldn't be an issue but that data point doesn't flow through to everything else. we'll have to wait and see if that changes and that's an

outlier and doesn't make any sense. ashley: yeah, it's mystifying for sure. i want to get to energy prices and crude oil coming down and diesel up 10-cents in one week. is that a sign that we could see inflation worsen or is that just diesel? >> well, it is diesel right now. i don't think this is a short term issue. i think with crude oil, ashley, and here's what my big worry is; right, you've got what the fed said on friday, they're going to put people out of work. they're going to run that unemployment rate from 3.5% today and get it up to 5 or 6% because that's how they're going to get out in front of inflation. you could see a world come christmas time or say after thanksgiving that we've got a 5 or 6% unemployment rate, we've got interest rates over 4%, 4 and 5% if the fed continues to do what they're doing as far as hiking goes. and if we have this energy problem we're seeing here in europe come here at all and that ignites our crude oil market and

diesel is high, which runs the world, ie supply chains, we could see a situation where we've got inflation, double digit inflation, 5 to 6% unemployment, and a world of hurt with the folks out there with what we've got going on. i think that you could get back to a level where we have double digit inflation, high interest rates and high unemployment. that's stagflation and that'll be something that's going to be really bad. that's my one big worry and i talk about it on my radio show and on my show. there's not a really good answer but what the feds -- the fed's going to raise the unemployment rate. they're going to raise interest rates. if we see energy spike, that's a really bad combination. ashley: yesterday i said i needed more coffee. kevin durant i definitely do. scott shellady, we're out of time on those happy notes. >> you need something in that coffee. ashley: yeah, little irish cough

feoffment i understand. scott -- coffee. i understand. scott, thank you so much. now this, economist steven roach just said what is needed in order to avoid a recession. what is it, lauren? lauren: a miracle. he said that and he's echoing what jay powell said on friday and scott as well, look, there is pain and it's coming to the economy. that means more people will lose their jobs. roach says unemployment, that rate could go up to 6% as did scott shellady and obviously a recession would follow and crimp on your spending. what kind of recession? that's the big question mark. the garden variety or get a severe one? we don't know. ashley: right, we'll see. yeah, all sorts of dire comments today. we need something. you're looking at some of the movers. let's begin with first solar. their stock is up 4.5%. lauren: nice, they're spending $1.2 million to expand solar panel manufacturing here in the

u.s., first major adjournsment of a corporate -- announcement since the inflation reduction act was passed. and boeing too is higher. big deal -- it just turned, ashley. taiwan's airlines will buy -- it was up 16%. taiwan is buying it in a deal and picking boeing to replace their aging air bus fleet. that's a win for boeing. certainly down 1%, kirkland's, home furnishing company and swung to a loss in the second quarter, huge discounts to work through all the excess inventory and comps fell 8.6% and stock down 7.4% this year. that's -- 74% this year. that's ugly. ashley: thank you, lauren. a turn of sentiment and the dow off 128 points. lauren, thank you. all right, now this, top fbi agent timothy thee bolt was forced -- thibault was forced out and the hunter biden laptop

and slow walking the probe in 2020. this story continues to grow and miranda devine was on it from the very beginning and joins me now. what's your reaction to this, miranda? thibault walked out of the office? >> yeah, he's one of the agents in the fbi and headquartered at the washington field office who have been running interference on behalf of president biden for a long time. they have severe anti-trump bias and some of them, l like other analysts there this linked to the russian collusion hoax and he was there stopping any mention or investigation into the hunter biden laptop and

including the material that hunter biden's former business parter brought to the fbi. both timothy thibault and cluck grassley with the whistle blowers from the fbi but there's many others and this is not going to be fixed or brushed aside just by one man being marched out the door. ashley: no, that's true. you have a new op ed out saying the fbi put the hunter biden story in facebook's lap. miranda, the fbi basically told facebook this was a high alert story. why did they immediately suppress it? >> well, neither the fbi nor mark zuckerberg and facebook will fess up exactly to what the fbi told them in that briefing. in fact, they won't even say the exact date, but we do know from

zuckerberg's various revelations, including to joe rogan last week, that it was weeks before the election, our story about hunter biden's laptop broke three weeks before the election, and within hours facebook seemed to recognize immediately what the story was fbi warn him about and they throttled it immediately and it was on our website at 5:00 a.m. and before lunchtime, they'd throttled it. that's curious and i do know from my questions to the fbi -- to facebook that they told me that it was not what the -- the fbi did not mention hunter biden in their defensive briefing and refused to answer my questions about joe biden or ukraine. the add -- emissions tell you a lot. the fbi was spying on rudy

giuliani who was trump's lawyer for two years and including the computer repair shop owner in delaware that had the laptop, was e-mailing rudy giuliani. ashley: wow. this is a fascinating story. it's not going away. thanks to you, myrr miranda. any new developments and you'll have it and bring us up to speed on the hunter biden laptop story. appreciate it. >> thank you, ashley. ashley: house republicans are preparing for an aggressive investigation should they row take the house in november. i've got to believe hunter biden is at the top of the list; right, lauren? lauren: he certainly is if republicans take back the house. what are his business dealings? did they compromise national security? as you were talking with miranda, we learned that senior fbi official tim thibault just resigsigned and he handled the hunter laptop investigation. it's been alleged he shielded the first son.

then there's the border; right. perhaps impeaching homeland security for failing to secure the border. then the lockdown policies. in other words, you have republicans that would try to make life very hard for president biden. why? to frame the 2024 presidential race against democrats. >> lauren, thank you very much. now this. ashley: president biden will give a prime time speech on the soul of the nation on thursday. it comes a week after the president called trump republicans semi-fascists. will cain there take that on. if you thought there would be an improvement after the massive influx of cash. they're only using 80% of that. president biden's justice department now admitting it already reviewed some documents seized from former president trump at mar-a-lago.

judicial watch president tom fitton is on the show with the very late nest that investigation, next. latest in that investigation, next. ♪

♪ ashley: my heart is in havana but we'd all like to be on clear water beach. that's clear water, florida. 80 degrees there and a few folks out there and follow us on spotify if you like the music we play on the show. scan the qr code on your screen next to the smiling stuart varney. check the markets, we started the morning right out of the

gate positive. modestly so but since turned south and as you can see, the dow off 174 points. down another half a percent and same story for the s&p and nasdaq composite. now this, we've been getting into this story today, the top fbi agent in charge of the hunter biden case, timothy thibault resigned. griff jenkins following that story in dc today. griff, is he being accused of political bias in the handling of this case? >> that's the question and according to sources who spoke to fox news, they said, ashley, that the 25 year fbi veteran who worked in the washington field office was walked out of the building on friday, all though the source stressing the walk is a standard procedure for resigning agents and thibault was on leave for a month after his departure comes after the whistle blower claims that the fbi obstructed its own investigation into hunter

biden's laptop and business dealings. now gop lawmakers are demanding facebook hand over communications on hunter biden in the wake of mark zuckerberg's recent comments. >> fbi, i think, basically came to us, some folks on our team, and was like, hey, just so you know, you should be on high alert. we thought there was a lot of russian propaganda in the 2016 election. we have it on notice that basically there's about to be some kind of dump of -- that's similar to that so just be vigilant. >> in the letter, the republicans wrote "the american people deserve to know whether the fbi used facebook or other social media companies as part of their alleged plan to discredit information about hunter". meanwhile the former cia chief of staff under president obama, you see here, jeremy bash, has been appointed to a white house advisory board that offers president biden intelligence

advice. you'll find bash's name among those who sign that had now infamous preelection letter with 50 other former intel officials who falsely claimed hunter's laptop could be russian disinformation. ashley. ashley: very interest. griff, thank you very much. update on this story, the justice department says it has already completed its review of what was taken from president trump's mar-a-lago home. tom fitten, the judicial watch president joins me now. good morning, tom. we understand some of these materials were covered by attorney-client privilege; is that right? >> it is. that's what the government told the court yesterday in trying to fend off president trump's desire for a special master to review this material independently. what does that tell you? it tells you they got too much material out of trump's home by their own admission, it's

material they shouldn't have. i don't think they've given it back to trump yet and, you know, they're expecting the court to trust them that they fairly evaluated the materials that they seized from trump's home and you just spent 15, 20 minutes doing some reporting that tells americans and frankly the court why they can't trust this fbi. they're out to get trump, this raid was part of that, i'm convinced, and now they've kind of had to admit not only did they take these attorney-client records but despite trump's request and despite the court's interest in appointing a special master, they're already taking the documents they've taken and sharing with an outside agency to do "a damage assessment". the court's got to put a stop to this and freeze it all. if i were trump, i'd be asking for that immediately. ashley: well, will a special master to overview the looking of these documents, does that

make much of a difference? >> it would because it's certainly -- it puts all the documents that were at issue before an independent party that presumably americans can trust cause they can't trust the fbi and garland justice department, and it's just not attorney-client material. the argument is that the president had a right to these documents. his taking them out of the white house was his prerogative as president, they weren't classified, they weren't presidential records. the court has got to address that issue, and i think president trump should ask the court to address that issue because if that's the case, the whole basis for the raid, the whole basis for the investigation was conceived in sin. ashley: wow, we're going to have to leave it there, tom. thank you, but i have a feeling we're going to have a lot more to talk about as this "investigation" releases more details and we know where and how this thing will be resolved.

tom fitten, great stuff as always. the irs pledged to improve service for taxpayers, that sounds good. only one way to go on that; right, up? lauren, how much of their new $80 billion in funding will actually go towards improving taxpayer service? lauren: 4%. $3.2 billion. when the bulk of the money, $46 billion, used for monitoring and making sure that taxpayers comply. let me give you the translation, ashley. if more people are targeted by the irs, not sure the budget is enough to have more agents answer your phone call as to why if you've got some questions. right now one in five calls are answered. i'm not sure another $3 billion with all the more, you know, audits and monitoring going on will up that number too much. ashley: one in five? my god, that's pathetic. all right.

lauren, thank you very much. another shake your head moment. the governor of new york has a message for republicans living in her state. take a listen. >> get on a bus and head down to florida where you belong, okay. get out of town. get out of town. ashley: thank you very much, governer. i wonder what new york congresswoman thinks of the governor's remarks. she's on the show. should be interesting. small investors are buying up homes in other states to rent them out for profit. jerry willis will tell us how the so-called laptop landlords are threatening home ownership. good story, coming up next. ♪

right, let's check these markets, we actually started modestly higher and turned south after two straight days of selloffs.

s. investors are continuing to worry about sustained monetary tightening by the federal reserve. higher rates in other words. come in, lauren. you're looking at some other movers this morning. let's begin with our co-op. lauren: down 7%. power conservation going on in europe and alcoa shedding one of three production lines at an aluminum plant in norway. it's starting now and will last for two weeks. that stock is down. gap, ash, they were raised to equal weight at barkly's and stock up 2.8% and barkly's says, we know the risk to this company, we know they fail to resinate with the younger shopper, but there is a turn around and it's underway. we have faith. finally, what a difference a day makes, oil is down sharply today and marathon oil is leading decliners on the s&p 500 and good for 4% decline. there was violence in iraq, we thought supply might be affected, it wasn't, couple that with fears that the economy is slowing worldwide, less demand. supply untouched, fears of less

demand, oil is down today. ashley: thank you very much, lauren. thankers for explaining that. heading in the other direction, rent prices are surging to record highs. as a result more individual investors are rushing to buy real estate in other states to make a profit. they're called laptop landlords. fascinating story. gerri willis is here to explain. gerri, tell me about this laptop landlord trend. >> yes, good morning to you, ash. it's a stillover effect, you can call it that. more and more want to be homeowners who are priced out of expensive markets they live in are choosing to own in smaller markets with more affordable prices. then they rent these homes out as investment properties. they're doing all of this, renting and managing properties completely remotely. sometimes not even stepping foot in the home they own. in fact, it's become a cottage industry with websites like roofstock and appreciate connecting buyers with local

property managers who take care of the hard stuff; right, maintenance and leasing. listen. >> it's a little bit different than the conv conventional amern dream, which is own the home you live in, which most people still want to do if not now eventually, but this idea of remote investing and sort of decoupling where you live and where you own is quite powerful. >> this is the mom and pop equivalent to the wall street pros buying up main street and critics say investors who are buying homes to rent are one reason why rent prices are exploding across the country, $4,000 a month in new york city. now, investor purchases have now reached on all-time high of 28% of all single family home sales in 2022, nearly a third but there could be rough water ahead for these new landlords. analysts are warning of a real estate recession, already 21% of home sellers dropped their asking price in july. that is the highest share since 2012.

all of this according to redfin. ash, back to you. ashley: thank you, yeah. the markets certainly cooling off. gerri willis, fascinating and great stuff. thank you very much. it's been one year now since the american conservative values etf was featured on this show. the etf directs conservative investors away from woke businesses. tom cotter is the president. fascinating concept. tell me how has the etf been doing. >> yes, first of all, thanks for having me, ash. the etf has been doing exactly how we've expected it to do. it has been performed in line with the s&p 500, which unfortunately as we all know over the last several months has not been great. however, our etf without investing in almost 29% of the s&p 500 because we consider those companies anti-conservative, the etf outperforming the s&p 500 inception to date as well as

year to date based on our last quarter, which ended in june. so we're very happy with the performance of the etf, it's doing exactly as we expected the etf to do. ashley: it's face nating and it's one -- fascinating and one thing to highlight companies that have woke policies that may be extreme, but to take it to the point where you're diverting possible investment to away from the companies, that's a whole new level. what kind of reaction have you had from investors? >> we've had great reaction from investors, ash, frankly. one of the things we've seen is a number of small investors come into the fund, especially people looking to align their values with their investment philosophy and we're very happy with that . we've had a number of investment professionals looking at the fund. the fund is still a bit small, but we've had a number of investment professionals who have conservative clients and look at this as a way to reach

their conservative clients so the reaction from people on the politically conservative side of investments has been very good and we're very excited about it. ashley: talking about woke companies, are we talking about come pretty well known names. which are the most woke? >> well, it's interesting, we run a survey of about 5,000 people who are politically conservative constituents that we have. some are investors, some are just people who follow our research, but we run a survey, and the most woke company has long time been facebook. it's now meta as we all know. but facebook's been the most woke company. most interestingly is in our most recent survey, disney has overtaken facebook to be the most woke company. so the family business of disney in the minds of conservative investors has overtaken facebook. another interesting thing that we've seen with our survey is

that blackrock increased significant any in the minds of investors as being a woke company. ashley: that is absolutely fascinating. well, it was great to catch up, see how you're doing and of course we'll continue to track it. tom, thank you so much for joining us this morning. >> thank you for thissing me, ash. would love to be back bonn some day. appreciate it. ashley: tennis star serena will unanimous hanging up her racket to the end of the year and focusing to the venture capital firm, serena venture. seems logical. lauren, what are the details? lauren: she won that big crowd yesterday and the fanfare was amazing and ready to right big checks and serena ventures raised $100 million. it's invested in more than 60 startups and some are health related master class, tennessee exercise class site.

home gym tonal noom helps you track your food and stuff. they've repeatedly pushed back ipo and she's a main investor and isuzu, it's a thin tech and helps people build their credit. that's where she's invested and trying to do good. a lot are women-owned as well. ashley: it's amazing. she's such a force on the court and off the court. she's a force of nature. lauren, thank you. talk ago force of nature, kim kardashian got a lot of backlash for giving this advice to women in business. >> i have the best advice for women in business, get your [ bleep ] up and work. seems like nobody wants to work these days. ashley: i think she's right. well, now she's sharing how she really felt about all the criticism she got from that statement. we have the tape. meantime, farmers are facing major challenges, soaring inflation and high temperatures depleting water sources having them struggling just to hang on.

grady trimble is at the farm progress show in illinois with the report. good stuff. he's next. ♪

ashley: let's take a look at these markets, we started off sheepishly higher but that's gone out the window now. the dow down nearly 300 points, down nearly 1% and s&p off more than 1% at 3985. now the nasdaq down 1.25% or 151 points and the selling has picked up again. now this, we talk a lot about inflation and what about

shrink-flation and more people seeing grocery products shrink inside. and products are shrinking the most, lauren? lauren: the snacks. snack items, things in the pantry, frozen foods, meat, bread and pastry, ashley. some are oh so subtle but when it happens to you, you notice it. i get water wipes online, i have a repeat order, been getting them for years and all the sudden i said, hmm, this costs the same and the number of packs was the same but they were a lot smaller. shrink-flation. too lazy to change my order, i kept it. other people say we don't like it. we purchased a different brand. about the same percent opted for the same generic and a third chose to buy in bulk rather than just buying small quantities here and there. we see prices go up and sizes go down. does the retailer ever revert back to normal? will they make the smaller bag

of doritos big again? i don't think so. ashley: i think it's like gas prices, they go up but take forever to come down. it may take a while for the products to restore their original size, but we'll have to follow it. we'll follow your wet wipes to see what happens. lauren, thank you very much. more people, by the way, are going into debt after using buy now, pay later options for groceries and other every day essentials. you know, lauren, how much are we spending using that option? lauren: bnpl, it blew up last year. customers used it to spread out payments but did it for christmas shopping or designer clothes. expensive purchases. you ask how much? $49.5 billion rang up last year in transactions. but now, ashley, folks are literally going into debt for a carrot. they're using buy now pay later to pay for groceries and every day essentials because your salary might have gone up but

not nearly as much as the cost of everything else. ashley: yeah, that is a sad, sad deal and those interest rates can often be so high. all right, lauren. thank you very much. sign of the times i guess. let's move on. we know that farmers are struggling to find relief despite receiving billions in aid from the democrat's climate package. grady trimble is at the 2022 farm show event and get a look at future of farming industry and, grady, look, farming is tough in the best of times. how is the mood right now? grady: really challenging times, ashley, but there is some positive. the whole point of this show is to look to the future, and that's what we're doing here. i don't know if you can see these vehicles, there are machines in the distance, but that is an autonomous spreader developed by two companies, case ih and raven, and what it's demonstrating is that it can spread fertilizer without anybody in the cab driving it. this is the future of farming, but i want to bring in rebecca

dostal, she's a farmer here in iowa to talk about the current situation. you've got fertilizer, cost extremely high, fuel costs extremely high, and a drought and all of that is hitting you as a tough time. >> yeah, it is right now, especially with harvest coming on here this fall. grady: what where you going through in terms of drought because that's out of your control. >> i have a background and there's not a lot of grass for my cows to be able to eat and utilize and we've had to wean the calves early to get them off and get the cows back in shape for the winter. grady: people going to the grocery store and paying more and think farmers must be doing pretty good right now. >> yeah, right now it's not coming back to the farmer. a lot put into the diesel that's taking the trucking to get to the grocery store and make sure that everybody's getting the supplies that they need. grady: and, ashley, by some estimates, fertilizer costs have gone up 300% in the last couple of years with the war in

ukraine, that's where a lot of fertilizer come from and there's concern it could increase the price of fertilizer even more. we'll end with this since you can now see the cab there's nobody in it. while we talk about the challenges of today, wee look to the future and how the industry could rely on this instead of workers that are so hard to come by right now. ashley: that is great stuff, grady. fascinating stuff as that autonomous spreader hopefully doesn't run over our camera guy. grady, thank you so much. appreciate it. viewer outraged over all of those covid restrictions during the pandemic, joe rogan has advice for you. take a listen. >> i'm hoping that now that this is over, people are going to, you know, recognize that some serious errors were made and not repeat them. >> what do you tell the people? >> vote republican. ashley: vote republicans. i wonder if the outrage will actually move the needle in november. we'll talk about it.

major league baseball taking in a historic step towards unionizing minor league players. is this the right move for the league? brian kilmeade is on the show and he'll take that on among other things next. ♪

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ashley: welcome back. the jerome powell selloff is going on and the dow is off 400 points and s&p down 61 and nasdaq off nearly 200 points. more of the same. all right, it is now 10:51 and that means it's time for brian kilmeade. brian, going to start with this, podcast star joe rogan has advice for voters outraged with the covid restrictions. he says vote republicans. >> i hope there's lessons leonard in this. no one alive today has ever experienced a true pandemic, and i'm hoping that now this is over, people are going to, you know, recognize that some serious errors were made and not repeat those. that's the best you can get out of it. >> what do you tell those

people? >> vote republican. ashley: well, they're laughing, vote republican. i mean, could that move the needle in november do you think, brian? >> just think about this and get politics out of this and talk talkabout what we experienced. we watch president trump reluctantly shut the country down for two weeks to stop the spread. he tried to open it up and all the blue states wouldn't listen. the president was being reckless and they didn't care. we watched florida take the lead and watch other states take the initiative and tennessee and others and especially georgia take the initiative and they stood back up and got criticism. i'd rather live there where a group of people said let me make my own decisionings about my life and make sure seniors are taking care of underlying conditions and democrats never wanted to let go. what's worse is the schools. remember, the president would not ask and demand these schools open even after writing the checks because he was scared of the unions.

if you have kids and want a future and go out to eat and run a business, the stakes are pretty clear. and case in point, look at novak djokovic. the president hasn't not lifted one finger to release people from the outside. people that want to come visit, unvaccinated for coming here. covid is over, we can deal with it. the vaccine doesn't work against the variant anyway. he got it twice and his wife got it twice and anthony fauci got it back-to-back. please, stop helping me. ashley: right. yeah. well, he could have come up the southern border, they don't do anything down l. i'm going to move onto another subject for you, brian. there are calls for west point to remove dedications of robert e. lee from its campus. i mean, come on. outrageous. he was a soldier in the army. >> he was a premier, he might be one of our premier military minds that was offered the union command and turned it down, sadly. he thought george washington, who he was related to said would

rather fight virginia. it was a bad move. lee never wanted a statue for himself and fought brilliantly up to that moment and one of the outstanding recruits that went to west point and graduates to ever go through there. you know, during the time, if you look at what lincoln said, if you talk about what grant talked about, after they won the war, it was so important to bring us back together that, ashley, there was a big sense in america, if you pledge loyalty to this country, you're back. to now all of a sudden, 150 years later sack say, no, you'r. it should not be appr approacheh politics but with a stable, clear mind and for the longest time, our longest, most prestige pressoous military economies thrived and exi existed and made academy the academy. there's a huge problem and as donald trump told us, when you take confederate statutes down, is george washington next?

the answer is yes. jefferson, madison, washington. ashley: yeah, where do we stop? last one for you, brian. interesting, the major league baseball player association taking steps towards unionizing the minor league. they sent out authorization cards that basically allow players to vote for a possible election. good idea or not? >> i feel bad for the minor leaguers that are like starving artists that want to make it in hollywood. if you don't make it, you don't make it but when you do, it's big. we never cared about the minor league -- sorry. mayor league player union never cared about minors before and now they do. it'll be less minor league teams for the ramification. they have to find a way to give these men a livable salary. they're living below the poverty line. they got to work waitering at night in route to become a professional player. there could be more money coming across there and oftentimes with unions, if their intent is

great, the result is less teams, less affiliations because with the salaries gone up and the collective bargaining, oftentimes it goes -- no longer goes to the pirates for example a less lucrative franchise and no longer pays for me to do it. marlins, you know what, good-bye rookie ball, i think i'm just going to hold onto my triple-a franchise so there'll be less jobs. ashley: yeah, i absolutely agree. brian, you can cover -- i could ask you about hungarian basket weavers and you could give me two minutes of excellent feedback. brian kilmeade, tremendous as always, brian. thank you. >> thank you, ashley. ashley: hungarian basket weavers. still ahead, will cain, congresswoman nicole mil mil an.

that's next.

>> imagine if trump called someone semi-fascist. it would be a story for days. that's the important thing about the attacks on trump, they're not just attacks on trump. they're attacks on trump voters. >> the fed's going to raise unemployment and interest rates. if we see energy spike, that's a

really bad combination. >> there's a lot of people on the sidelines waiting for a reason to buy, and i think they will come back into the market once people are back at their desks next week. ashley: the bustling streets of midtown manhattan. haven't seen that for awhile. it is 11:00 a.m. on the east coast, tuesday, august the 30th. i'm ashley webster in today for stuart varney and right to the money and let's check the markets and believe it or not, we began right at 9:30 when the markets open eastern time this morning on the up. modestly so but we had all green and all red. the dow off 250 points and s&p down 1% and nasdaq composite again off 1%. the third day of a down market, a trend for sure. let's take a look at big tech

numbers for you. those big stocks that were all in the green earlier and all in the red. apple off as you can see, 1% and amazon also down 1.5% and alphabet, meta, microsoft all down around that 1% level. let's take a look at 10-year treasury level if we can. it's at a two month high i believe. it was down a little bit earlier and now is on the rise again. up nearly three basis points at 3.13%. when that goes up, those are big tech stocks go down. that's for sure. now this: president biden will give a speech on the battle for the soul of the nation on thursday. will cain is here. great to have will here. you know, l he just called maga republicans semi-fascists. so the great unifier apparently has forgotten his own pledge. where's this speech going to go, do you think? >> probably a sequel of the 2020

campaign message. the demo democrats and joe biden appear to be interested in trying to revitalize what they think brought them the victory in 2020 and that's the message of we're having a battle for the soul of the nation for rights and freedoms that are under attack, which is an interesting message to now run in 2022 because you're looking at democratic senate, democratic house, and a democratic executive. a democratic presidency. if rights and freedoms are truly under threat, how would it be from the party in the minority of every branch of government? what more, they want to return, ashley, to the focus on donald trump. that may be successful to them. recent polling suggests it's getting tighter before the midterms. when the focus is not on the last two years: inflation, crime. when the focus is on donald trump, it looks to b that is it the benefit of joe biden and that is to the benefit of democrats. they look for a return much 2020. ashley: yeah, and look at this graphic to your point, will, it

shows the gap closing between the gop and democrats for the midterms. my question is, how do you see this playing out? i've heard comments like it's not going to be a red wave. it's going to be a red ripple. a day is a long time in politics. how does this play out, do you think? >> i think, ashley, i really honestly think the long-term trends. not that i am some wall street, you know, expert. but i tend to think that i like the analysis of warren buffet. you buy companies, you buy long term, you don't buy values but you buy the dips and the highs and in politics, the long-term value that's affecting americans lives over an extended period of time is the fact that their dollar is worth less than before. democrats took over washington dc, the gas prices are higher than when democrats took over washington dc. there's a nationwide surge in crime. no matter what comes in and out of the 24 hour news cycle and

focus on donald trump, even these bills that which the democrats are claiming, you know, momentary victory on will play into the longer term trend of rising inflation. i do think what we'll see in the midterm elections is a tendency to rewarding an understanding and based upon those long term value trends. ashley: right. next one for you, we've been talking about this for quite some time. vice president kamala harris dodging questions on who will actually pay for the student loan handout. listen to this, will, and i'll get your comment. >> a lot of the same people who are criticizing what we rightly did to forgive student loan debt are the same people who voted for tax cuts for the richest americans. 90% of the people who are going to benefit from student loan forgiveness make under $75,000 a year. that debt has been the reason that they're unable to start a

family, buy a home, and pursue their piece of the american dream. ashley: okay. so, will, why is no one in this administration answering the administration who's going to pay for the $500 billion plus bail out? >> because they don't -- well, they at least don't want to answer that question honestly because the answer is not advantageous to their political rewards. they're going to probably if ever pressed and cornered pretend like you can put it all on the backs of the wealthy but you can't. it's on the backs of the taxpayer. the taxpayer that paid off his college student educational loan or the taxpayer who didn't go to college and simply out there working a blue collar, middle class job and a productive member of society now has to fund, you know, the -- you brought up hungarian basket weaving, the major of hungarian basket weaving at bowedden and going to have to pay the loan of that student that doesn't want to pay back his loans yet.

the answer to that isn't advantageous to them politically. ashley: is it an issue that would anger enough people that would hurt the democrats? >> here's the thing, so short term it makes republicans look like the bad guy. ashley, it makes you look like you're standing in the way of yet another debt relief handout but long term, if people, and i think people are by the way, smart enough to connect the dots that not only will this lead to hyperinflation in education, but it will actually also lead to inflation in the economy at large so democrats are giving you more of the same poison and calling it the cure then people will see it as a ruse and i do think even though it's played to the point of republicans are the bad guys standing in the way of the debt relief, people are smart enough to see the effect of giving away this entitlement and it's effect on our economy in our pocketbooks. ashley: absolutely. i hear it everywhere i go, people are not happy about it. anyway, great stuff as always. will cain, thanks, will, for

stopping by this morning. we do appreciate it. thank you. let's check the markets and we're heading down again for a third session in a row, good time to bring in lou. lou, you're telling people stay away from social media stocks. you call them dumpster fires. is it that bad? >> i think it's that bad. who needs soap operas with general hospital when you've got elon and twitter. look at fundamental problem with social media is that it's an overcrowded market, you've got a lot of platforms competing for the same users and no innovations and patents that protect them and they're ripping off each other and ad nauseam and most important above all else in the economic times staring down a recession or in a recession like i've argued, that's terrible for the social media businesses and they're run by ads and they're fundamentals that drive the stock prices no matter how far they've come down are not going to improve a. lot of people want to suggest that

meta is a screaming bargain and i'd argue even at 13 times earnings, it's going to get a lot cheaper still as ad rates continue to fall and we get into the teeth of this downturn. ashley: you say also the market now bias towards stock pickers versus those allocators and those that do allocations and play the indexes. how long will that stay around. this is an uncertain environment. >> it is but this is what you see in a volatile market that's fighting for a new bull market is indexing doesn't work, buying simply the fang stocks doesn't work. we're seeing that. big tech as you brought up is reacting on dunnedmentals and -- not on fundamentals but interest rates but it's small cap and bio tech and if anything, look for value in trends we know will last longer than the next presidential election like cybersecurity, semiconductors, robotics, automation. those will be around longer than

you and i -r ashley, that's a good investment to make. ashley: certainly longer than me. that's for sure. ewe like to pick up on the bio-tech that can bounce back and any particular names in that sector? >> yeah, bio-tech, i think, there's some great names. a company on the move nate, innate bio up 50% and compelling data. for the every day investor, it's best to pick up the smaller name with etx and fti and bottomed in mid june and tested the historical lows going back to 2016 and we're seeing big pharma get back to buying small bio-tech companies and the xbi is a safe prudent way to play that trend coming back and bouncing. ashley: always a fountain of information. lou basenee. thank you very much. >> thanks, ashley. ashley: lauren, you're looking at some of the movers. let's begin with one of my favorite stores because i'm a gadget guy, electronics.

best buy. lauren: one of the strongest stocks on the s and p today. ceo saying you're going to see a holiday that starts to look a little bit more like what we saw back before the pandemic and back to school off to a stronger start than we thought. all in a better than expected quarter for best buy. your favorite store. actually, ashley, that's like the least favorite store i have. you couldn't pay me to go into it. ashley: i understand. lauren: i just want to press a button going into work and we differ. rio tinto, the metal miners declining today and slower economic growth and higher rates. rio down about 4% and also in china, shenzen had the largest electronic market because of covid and have a zero covid policy and finally wal-mart, i love this story, they know their shopper. they just released their holiday toy list a month earlier than usual. they want to let you know, here,

save up and we understand your budget is going to be pinched as a result and then they go a step further, they have a new section, it's a budget friendly section for toys where they're under $25. go wal-mart. ashley: yeah, very wal-mart and very smart. good stuff, lauren. thank you very much. months after the so-called slap heard around the world, chris rock was asked to host the combined effect cars again and we've got -- oscars again and we've got his response. what a picture. remember when the governor of new york told republicans, yeah, go ahead, leave the state. listen. >> just jump on a bus and head down to florida where you belong, okay. get out of town. get out of town. ashley: well, that's not very friendly, is it? the governor facing major backlash on social media and more on that story and meantime thousands of migrants have been bussed from the border on the southern border to new york city. they're being housed in hotels. congresswoman nicole malliotakis says new york's policies are

incentivizing illegal immigration and the congresswoman joins me next. ♪

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ashley: beautiful picture. always love that . you're take ago look at statue of liberty in new york harbor with the boats going by. what a great picture that is. it's 82 degrees right now in new york city. staying in the city, it is struggling to house the bus

loads of migrants who have been arriving from texas on a daily basis. new york congresswoman nicole malliotakis is here. congresswoman, good morning to you. what do you think should be done with the migrants arriving in the city? >> well, fir of all, i think we need to stop it at the root of the problem, which is we need to secure our border. we need to re-instate remain in mexico and give the cvp the tools they need to control the border and not give it up to the drug cartels and human tra trafficking and drug trafficking and that's where the problems rely and be solved and however, if i were the mayor, i'd be bequite frankly calling on our president to stop madness and send them all over the country where we don't know where they are and what their intentions are. many of these people, like my parents, are coming for a better life and that's fine. the taxpayers cannot be on the hook to pay for their housing,

education, and healthcare. here in new york, our governor has chosen to put hundreds of millions of dollars aside to support these individuals with free healthcare, benefits that even some of our senior citizens don't receive. on top of that, the mayor wants to spend moneys of millions more to house them when we have our own homeless crisis that we need to deal with, even veterans that need housing and seniors that can afford housing they're in. ashley: you know, also galling is the biden administration is reportedly the ones paying to bus the illegal migrants to new york. an official in el paso says they're using fema funds to foot the bill and they're taking money away from federal emergency agency and using it for this. that's just a double slap; right? >> it is a double slap and my district of staten island from ida and so many claims were

denied by fema and tax paying americans not getting the assistance they need to get their housing back in the way it was pre-hurricane and they're seeing this now. it is a slap in the face and our government's priorities are just simply backwards. ashley: yeah, i agree. got to get into this issue, the governor of new york, kathy hochul is being slammed for telling republicans get out of town. listen to this and i want your comment. >> we're fighting to bring government back to the people and out of the hands of dictators. we're here to say that the era of trump and zeldon and malinaro, just jump on a bus and head down to florida where you belong, okay. get out of town. get out of town. cause you don't represent our values. you are not new yorkers. you're not new yorkers. ashley: well, that's quite incendiary and columnist tweeted

in response hochul is attacking gop politicians and gop voters and this is normal behavior for democrats now. i would argue, congresswoman, that republicans have been getting out of town because of high regulations, high taxes, high crime. they needed to get to florida to enjoy more freedom and a better way of life. what say you? >> it's not just republicans. it's democrats, it's independents, and the governor right there is saying that she has no intention to fix a skyrocketing crime. she has no intention to fix the high taxes and no intention of stopping the ridiculous congested pricing, $23 fee to drive into manhattan and no concern to put americans and citizens first and people need to vote for lee zeldon if they want a change and three quarters of americans say public safety is their main concern and they should not be voting for kathy hochul in november. ashley: it's been a tough go. the number of democrats far

outweigh the number of republicans but some of the policies and the damage they've done, is this going to finally be reflected at the ballot box, do you think? >> well, it should be. as i said, new yorkers are expressing anger through the polling for the pollicis put in place by this governor. just the fact that she wants to continue to spend the taxpayer's money on crazy things like i said, the hundreds of millions of dollars for healthcare for illegal immigrants giving them free tuition for college assistance and stimulus payouts by a way that american citizens didn't earn and if you're a single mother with three children, you received nothing to earn 90,000 for more and if you were here illegally, you didn't prove any income and able to get a check from governor kathy hochul and it's the backwards priority and there's a reason why new york's budget is twice that of the state of florida yet florida has millions of more residents and zero

income tax and that's why people are leaving and not just republicans. it is democrats and independents and people of all party stripes that want reasonable government and new york is one of the states that lost the most population last year and hundreds of thousands of new yorkers have fled. ashley: congresswoman nicole malliotakis continuing to fight the good fight here in new york. we thank you for joining us this morning, congresswoman. thank you very much. >> thank you. ashley: all right. now this, kim kardashian went viral when she made these comments about women in business. listen. >> i have the best advice for women in business, get your [ bleep ] up and work. it seems like nobody wants to work these days. ashley: you know what, i don't have a problem with that but it looks like she's now had a change of heart. lauren, what's she saying now? lauren: it's the trailer for the card dash indians on season two.

saying i'm mortified. >> you saw all the backlash on the trailer. no one sympathizes with you. >> i'm mortified and i do understand why people were upset. lauren: she says her comments were taken out of context. she was upset that people always say to her, you're famous just for being famous when she works really hard. clearly she's cashing in; right, on this controversy on the show. as reality tv stars, the kardashians survived two decades and nine spinoffs because she works hard. ashley: she certainly does. just have to hand it to them. i don't care what anyone says. lauren: somewhat out of touch. ashley: yeah. all right. chris rock was asked to host the oscars in 2023 but, lauren, i can't imagine he'd want to after the slap heard around the world; right. lauren: yeah, he said no thanks to a crowd in phoenix while performing and he compared returning to the oscars like going back to the scene of a

crime. that's -- i mean, i was just glancing over, that slap was forceful. did it hurt? rock said, yeah, it absolutely did. so here's the deal. he's hosted, i think, the oscars three times. he helped the ratings last year. if he returned again as they asked, yeah, of course it would help the ratings. he's just not doing it. he's not interested. i don't blame him. ashley: no, i don't blame him either. been there, done that. now, this, elon musk says tesla could roll out self-driving cars by the owned of this year. but the exact time line depends on one very important factor. we'll tell you what that is. lyft by the way is renting out nearly half of its office space in major cities. they just don't need the room since so many employees want to work from home forever. madison alworth brings us the

report, next. ♪

♪ ashley: you're taking a look at fox square right outside our headquarters in new york city. nice day, 84 degrees and sunny. there you go. let's take a look at the markets. we started off somewhat brightly in the green but it's all gone downhill from there. the dow is now off 250 points and the nasdaq down 1% and s&p downright around 1%. susan lee is joining us. what's on consumer confidence? >> i'm adding that onto my iphone and play list. they have fantastic music taste. a million more job openings and the jolt number and better, much stronger than expected in july. cup that will with a stronger consumer confidence and that means the federal reserve has more room to be a more aggressive and you have the new york fed president williams saying rates will likely need to get above 3.5% and there's a 75%

probably that the federal reserve will be hiking rates by 75 basis points next month. also that fear gauge, volatility index hitting the highest in a month and a half. big tech sells off getting more guaranteed money on u.s. treasury and you need to sell out of stocks in order to buy nose u.s. government bonds and now, zillow, if i was looking for green and outperformance today, look at this. up 2%, you heard about shrink-flation taking place and getting over 300 square feet less for the same price and possible meme stock trade here for the journal calling it the best housing short in the market right now. then green stocks and higher fuel makers power and continuing its huge rally after signing that deal with amazon last week and they'll supply over 10,000 tons of hydrogen fuel in order to power amazon's operations including the green forklifts. the stock is up 35% in the past

month. isn't that incredible. i also want to talk about byd, which is not boyd gaming but the china electric car play. this is a happy birthday to the oracle of omaha. warren buffet turning 92 and cashing out on $45 million on byd and he's an oracle for a reason. i want to age exactly like him. byd up 600% in the past decade. there's a reason why he's worth $100 billion and just so sprightly at 90+. ashley: and he's the oracle for a reason. all right, susan, thank you very much. oh, yes, while some bosses by the way are looking to bring back workers, back to the office next week after labor day, other companies are simply renting out their spaces while employees remain at home. madison alworth outside of headquarters in new york city for lyft. why are companies like lyft doing this? >> well, ashley, when you look at lyft, they're allowing their employees to be remote as they

want and they don't need as much of a footprint. it's up to the employees if they want to come into the office or stay at home. so many are deciding to stay at home and lyft will be subleasing out 44% of their total office space across their new york city, san francisco, nashville, and seattle offices. you know, all of these companies have plans to reduce or already reducing their footprints many by subleasing them out and they allow them to choose if they want to come in and they're leasing out multiple floors of san francisco offices. yelp completely closed offices in new york city, dc and chicago. in a statement to fox business, they explained saying "combined, the three offices we're closing saw a weekly average utilization of less than 2% of the available work space. on average, castle systems, the largest corporate security system company in the country

sits at 43% and new york is 45.3% and some companies losing labor day as anchor for coming back to work, castle says there's an increased interest in their tracking systems and not just for security purposes. ashley: there's heightened interest now for more compliance for people coming in when they're supposed to be or when they're say they're coming in. >> so castle says occupancy has been around the 43% from the summer for the last couple months and it did double from earlier in the year when it was just 20% and they do expect it to go up after labor day. ashley. ashley: fascinating stuff, mad madison alworth. home prices are up 18.6 annually in june. the pace of the hikes are slowing down or decelerating.

mitch rochelle joining me now. great to see you, mitch. okay. prices down from 20% in may but as i say, they're still pretty high; right? >> they're still pretty high, ash. if they were to fall, there's a lot of folks predicting that prices will fall and they fell 10%. we'll use a stock market benchmark there, 10% being a sell off. they'd still be up 10% year over year. and if you go back to the beginning of the pandemic when you saw 25% in some markets, i think there's clearly a softening of the housing market and there's a little bit less demand and people borrowing money at a higher cost maybe falling out of the market but there's still demand in excess of supply if you look at it nationally. and i think that's going to put at least a floor in housing prices at some level. ashley: so what kind of market is it? for so long it was a seller's market and we had bidding wars

and it was remarkable. is it starting to turn more to a buyer's market perhaps? >> yeah, i would say that. you know what's interesting, the old adage in housing is location, location, location. i -- ashley: yeah. >> when you had so much pent up demand and rational exuberance in allen green span term, location became a little less relevant and whatever i could get. i don't care where it is. we're going back to the future and fundamentals so a better located house will sell for a worser located house. nowses near the interstate and it's noisy, it'll sell at a discount relative to the house that's two blocks away and not noisy. that's the way it should be, quite honestly. ashley: right. yeah. the fundamentals and we know from the fed and certainly jerome powell is that we can expect higher interest rates and as the mortgage rates go up and up, how much of a dampener is

that on the housing market itself. >> i think it's considerable and it was so low for so long and low mortgage rates were taken for granted and still by historical terms not anywhere near where things were ten years ago plus during the pre-financial crisis. but i think it matters and when prices are up as high as they are and you still need a down payment thankfully to buy a home unlike it was 15 years ago, i think an extra 100 basis points and a mortgage will make a difference and pricing buyers out. the challenge is rents are ridiculously high and rent makes biden decision and leaning towards biden and could be cheaper than renting. >> that's amazing. ashley: mitch robi rochelle, thk you very much. we have breaking news into the fec records federal election commission and president biden has filed to run for reelection

and we are waiting for comment from the white house and we'll bring it to you once we get it. if there was any doubt, apparently he's filed to rerun in 2024. okay. coming up, russia and china kicking off war games in the sea of japan and military drills involve more than 50,000 troops and 60 warships on that story. europe should prepare for a exorbitant power bills and a season of rationing and that's a warning from the ceo of shell and jeff flock brings us that report, next. ♪

ashley: all right now this, hon duras teaming up with lg

solution to build a new $4 billion ev battery plant in the u.s.. production set to start in early 2023 but the location not yet finalized all though we understand ohio is one state reportedly being considered. okay. now this, tesla ceo elon musk is hoping to help self-driving cars out on the road. come back in, lauren. question is, when could this happen? lauren: end of the year. so in months, this is for full self-driving where there's no human driver whatsoever. here's the problem, it still needs regulatory approval, which makes a rollout by the end of the year pretty difficult. and then it's an elon musk time line. he promised full self-driving six years ago and we're still waiting and the package by the way is a $15,000 a year option or $15,000 option i should say.. ashley: i see. we'll check back in at the end of the break.

the ceo of shell ben van burton is warning that europe's energy crisis may force them to ration access to energy for several years to come. jeff luck is in philadelphia this morning. jeff, the question being this morning is this a sign of things to come here in the u.s.? >> that's a very good question, ashley. talk about b burden. a major burden here and in europe. their rates are going up on thursday of this week by 11% in philadelphia alone. as they say, that ain't nothing compared to europe. take a look at the numbers now in europe in terms of an average household utility bill. going from $133 at this time last year in the uk to now $345, almost three times. that has led to extraordinary measures across europe and places like germany, hannover,

germany, cutting off hot water to public buildings and a/c have to be at 81 or above and in spain, lights off in buildings if they're not occupied overnight. in france, you get fined if you leave your door open and air conditioning on at the same time. it's not like that here right now. but energy experts say there are some troubling similarities. >> there's several countries in europe that have their own natural gas resources and have failed to tap into those resources. unfortunately, europe's kind of been plagued with the same problems the u.s. has been plagued with and we've got these lengthy environmental reviews of processes to build new energy infrastructure. >> consequently that leads to higher energy prices here across the board. in july, up 15+ percent year over year and that's the biggest increase since 2006. ashley, it's worth noting higher

energy price act as a regressive tax hurting the poorest among us. study found by the energy national energy assistance director association, if you make $38,000 or less in a household, you pay 25% of it on energy. if you make $240,000 or less if you're wealthy, less than 5% on energy. hits those who can afford to pay it the hardest. ashley: yeah, i mean, some frightening numbers, 81 degrees for a/c. someone who gets hot after 55, that would absolutely be devastating for me. jeff flock, thank you very much. good stuff. anything above 60 is just very hot. a massive sheet of ice meltingsing in greenland, set to raise global sea levels. lauren, when will this happen. sea level rises by 10 inches and

that's according to a study in the journal major climate change so so greenland's ice sheet is e second largest in the world and 3% will melt and cause sea levels to rise and impacts all the people who live on the costs there. ashley: yes, it will. all right, lauren, thank you very much. take a quick look at 30 stocks on the dow to get a sense of the market and we stopped positively. we had decent data and that's kind of good news and bad news with regard to the fed and rate hikes. there's goldman sachs and more on the play. the white house will reportedly ask congress to approve a $1.1 billion sale to taiwan. that includes dozens of antiship and air to air missiles. how much would that bolster taiwan's defenses against a

potential chinese invasion? gordon chang will take that on and so much more, next. ♪

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ashley: all right. welcome back, everyone. we have a correction to a headline we brought to you earlier. president biden apparently has not filed for reelection. it turns out the former treasurer is leaving to take a government job ask that's why the filing was reamended and not a filing for joe biden. taiwan's military fired warning shots at a chinese drone for the first time and comes as the biden administration is set to ask congress to approve an estimated $1.1 billion arms sale to taiwan. it will reportedly include 60 antiship missiles, 100 tactical air-to-air missiles ask surveillance radar contract extension. good time to bring in gordon

chang joining us this morning. gordon, is this enough to help taiwan? >> no. we need much more. as a matter of fact, really what we need are much more than weapons. the most critical thing is for the united states to clearly say we will defend taiwan and the base troops on the island. we have a small contingent in taiwan. the north korean troops could overrun that in a day or so but they don't invade because they don't want to take on the united states. that should be our strategy for taiwan as well. weapons are fine but really we need a demonstration of political will. ashley: next one for you, russia and china both set to take part in a series of joint military exercises this week. how worried should we be this growing partnership between russia and china? >> we should have been worried a long time ago because the chinese and russian militaries are actually working very closely together. they are -- they're becoming

interoperable. what they really are doing is presenting us with a joint challenge. this is especially important and you just talked about taiwan where taiwan fired those warning shots and flairs at chinese drones. china is acting very aggressively right now and we have to assume that it's going to have russia at its side whether it takes on japan, taiwan, or whatever. really what we're seeing is a new access. ashley: how far is china prepared to push it with regard to taiwan. would this lead to conflict? are we that close? >> i don't think we're that close this year as many people say because the chinese political system right now. they're very much involved in fighting and scrambling and all sorts of things in the runup to the national congress, which has been announced for october. after that, anything can happen, ash. the other thing is there's always the possibility of

accidents. china is engaging in very dangerous military maneuvers. s those maneuvers could end up in an accident and causes death and spiral into conflict and we're very close to it because the chinese right now are not afraid of the biden administration. they're going to do things which are going to push us too far. this is extremely dangerous. ashley: well, i hate to leave it on that point but it's very poignant. thank you, gordon chang for chatting with us today. before we run out of time, time for the tuesday trivia question. when president made labor day a federal holiday? wood rrow wilson, fdr, grover cleveland, calvin coolidge. find out if lauren knows the answer right after this. ♪

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♪. ashley: some exciting news to share. reporter lydia hu just welcomed a new baby boy. craig was born thursday afternoon. he is named after lydia's husband. guess what? big sister emily thrilled and already sharing the baby with love. congratulations. there you go to lydia and her family. that makes you smile. now to the trivia question, we asked you before the break which president made labor day a

federal holiday? lauren, who is a whiz at history, what do you say, lauren? lauren: going with grover cleveland because i think he was the earliest of that bunch of presidents. i think labor day has been around for a while. [laughter]. ashley: you can laugh but you're right on the money. grover cleveland. the law was signed june 28th, 1894. and lauren simonetti again, a whiz at history. take it away, neil cavuto. neil: all that is very good to know. thank you for sharing that. ashley: yes. neil: following same thing we've got going on here, concern how strong do you want the economy. a lot of strong news. normally that would avoid a recession, the problem right now as connell mcshane can tell us good news is interpreted these days as bad news. i guess, connell, the fed will keep tightening and tightening. reporter: [inaudible]. good news is bad news as