♪. stuart: adele. i love her voice. so we play it sometimes. good morning, everyone, it is 10:00 eastern. straight to the money. we're on the downside. for the dow at least. nasdaq has gone straight up 121 points.

maybe this ask why. show me yield on tin year treasury. 3.67%. it is up. i thought the yield goes up big tech goes but apparently not so. nasdaq up. price of oil, $79 a barrel. m.i.t. bit concern. the new president of the boston fed is giving her first public speech. this is important because she might tell us what the fed will say in the future but do we know what she will say? lauren: susan collins echoing from jay powell. inflation is too high. getting it down causes pain. unemployment rate goes up, employment goes down. she is a voting member this year, not next year. there is a lot of noise now. this complicates jay powell's message. atlanta president rafael bostic speaks at lunchtime. dallas's laurie logan are not fed members. a lot of fed speak on the same

day. do they confirm or negate the message jay powell, that hawkish message. stuart: they will be all over the place. lauren: it is noise. stuart: tea leaf watchers. fed watching drives me nuts. thanks, lauren. now this. the stock market is way down. the economy is slowing. inflation stays high, not good. what's the administration doing? raising taxes and increasing spending. they have economic policy upside down. the cost of energy remains high. heating your home, paying your utility bills this winter will be a challenge. what is the administration doing? nothing. they won't okay pipelines. they're unwilling to drill for our own oil. they are trying to force us into expensive electric cars and they simply cannot admit the u.n.'s green targets and will not be reached. we all have to keep paying for their green dreams. two million migrants arrive at

the border. they have overrun border towns. governors of texas and florida are busing some of them to sanctuary cities like new york and d.c. what is the administration doing? nothing to stop the flood. just nasty comments, questioning morality of governors desantis and abbott. not a word about fentanyl. our military challenged in europe, ukraine, china, taiwan, what is the administration doing about it? giving the pentagon more money. it is a budget cut because of inflation. climate gets everything. military get as vax mandate, less real money. on all the issues administration has it all wrong. the president calls his opponents names, semi-fascists. hillary says we're deplorables, nazis. there is nothing unify about extreme name-calling. the more they mess up the country, the more they divide the worse off we all are. second hour of "varney" just getting started. ♪

stuart: matt schlapp with me. matt, i'm searching all over the place for a success story from this administration. they don't seem to have a fix for all of the things that ail us. have at it. >> yeah. no, there is lots of successes for the far left which is pulling the strings on the biden puppet but you know democrats usually win elections at the national level when they can paint republicans as extremists, when they say they don't care about you, want to make everything harder in your life. democrats say they want to put a bunch of money in their pocket. why is that not doing? biden is the most extreme embracing socialism of any modern-day democrat. it is destroying economic prospects of all the people across america. like you said, energy prices, stopping all the fossil fuel projects possible. food prices, go down and down.

heading into winter. that home heating oil price will go through the roof. they're doing nothing to help people. so that message we care about the little guy, the democrats usually win on, it is just not working. stuart: it is not. we all know it i think. next one for you. listen to when jen psaki says willed happen if the midterms are a referendum on the president. roll tape. >> i think democrats if the election is about who is themost extreme we saw kevin mccarthy marjorie taylor-green, i will say her name sitting on the left side. if it is referendum on the president they will lose and they know that. stuart: if it's a referendum on the president the democrats will lose. what happened? her boss used to be joe biden. has she had a falling out? >> i don't know. maybe she just had a moment where the truth serum kicked in there, stuart, but we all know this including everyone in the

biden administration knows that the democrats are heading for a big loss. "the new york times" and now "politico" is coming out with all these stories saying polling is once again hyping the democrats chances in all these races and joe biden's popularity is not in the middle 40s, it is in the high 30s. they're heading for a big loss. democrat what is they're trying to do with this semifascism, king maga, ultramaga, at least hold on to their dignity, stuart, not lose in the blue districts especially in the house. they want to hold blue voters. so this is a strategy to not lose so badly. we should be pretty optimistic people on my side about november. stuart: what a strategy, don't lose too badly. >> that's right. stuart: amazing. politics is extraordinary. thanks very much, matt. we will see you again soon. forker advisor to bill clinton says democrats will dump president biden in 2024 in favor of, in favor of whom?

lauren: she keeps saying she is not running but in favor of hillary clinton. that is the prediction from dick morris. stuart: oh, dick morris. lauren: move of desperation of democrats to dismiss the radical left, roll it. >> it is pretty clear now the democrats are preparing the party to dump biden. i think that is going to drive the democratic party leaders to go to hillary and say, hey look, please run again. we need you to save us from crazy left. she is preparing the groundwork for it. this week she said americans do not support open borders. she criticized biden for calling the republicans semi-fascists. so she is trying to move to the center. lauren: hillary clinton as a centrist. he also, he did predict a dem wipe out in the midterms. that paves the wade for her to come in as the hero to save the party. then you have this, it is an "abc/washington post" poll, it shows, look, most democrats want

to move beyond biden in 2024. 56% want someone else. they didn't ask to be hillary clinton but don't want it to be biden. stuart: i don't think dick morris has a great deal of credibility. the idea hillary could run in another major election not something i'm prepared to entertain, are you? lauren: she keeps saying no. i understand. and see his point. they need someone with name recognition not so radical to come out. who would that be? stuart: i think republicans are praying for hillary clinton. lauren: they are. stuart: one more for you, republican lynne cheney whether she prefers democrats to hold on to the majority in the house what did she say? lauren: she didn't dismiss the democrats because of republicans challenge they pose. >> that is a tough question. i think policies of the biden administration, you know, there are a lot of bad policies in terms of, you know, for example,

what we're seeing now with respect to inflation, what we're seeing with respect to government spending. i think it is really important as voters are going to vote that they recognize and understand, what the republican conference consists of in the house of representatives today. >> she said if trump were the republican nominee she won't be a republican anymore. she would leave the party. her outspokenness has lost her wyoming's race, right? harriet heggman trump-backed won in wyoming. look at this, midterm election spending will be the most expensive we've ever seen, $3.08 billion is estimated to have been spent on all house and senate candidates running this november. that beats the record back in 2018. a lot of money, especially for abortion. the democrats have abortion messaging. they spent a lot of money. gubernatorial, house, senate, all the way down ballot. stuart: hung their hat on that issue, thank you, lauren. get back to the markets.

look who is here now, my old friend, that guy's name is mark grant. always a pleasure, mark. how are you doing? >> the ageless stuart varney, i'm doing fine. stuart: all right. is there any safe space, any safe haven in any market at this moment? >> i will tell you what i'm using right now stuart, different from some of ire priors guests. i'm using exchange traded funds, closed end funds, some reits. i'm getting currently, i should say past performance doesn't guarranty future results, as of today more than 10% which beats the inflation rate. using these funds and the other great news about them, all the ones i use pay monthly. every month you get cash. here's cash. of course they can raise or lower the dividends but as of this date, today, all the funds

i'm using are paying more than 10%, some in the teens. they all pay monthly. i think, i call it income strategies. i think that's the best strategy you can use in this kind of plummeting market. stuart: i would have to pay you, our viewers would have to pay you a great deal of money to find out exactly which of these closed end funds gives you more than 10%. maybe some of our viewers will be prepared to pay but but i have a big picture question, do you think the federal reserve has made a huge mistake? >> yes. the federal reserve has two mandates, maximum unemployment and price stability. one of their mandates is not inflation. i think they're moving much too quickly on raising these interest rates which are causing treasurys, corporates, high yields everything else to go up and up in yield, which means that anybody that is owned any of them, they're losing money as the prices are going down.

but i still think even as i said a minute ago in these funds that i'm using i follow about 70 funds. i'm use about 20. if you get double-digit yields, get cash every month, i think every bit as important as the yield, here is cash every month which you can use for your living or reinvest or some of both. i think that is, that is the best strategy right now in the marketplace. stuart: okay. before we close, can you give me the name of one closed end fund or whatever it is that, just one of them, that you invest in that gets me more than 10%? name it? >> ryld. it is the covered calls on the russell index. you can look it up. you will see it was last i looked around 12%. it pays monthly. there you go. you got one for free, stuart. stuart: that is a wonderful thing. you're a fine man. i don't care what they say. name it again please, because

the producer was talking in my ear, i was trying to write it down. what is the name of the fund? >> ryld. russell -- with no leverage. stuart: okay. thanks very much, mark. that was pretty good. you gave me an idea for free. what a guy. mark grant, we'll see you again soon. good stuff. >> absolutely, my friend. stuart: moving on, an fda advisor says healthy young people should hold on getting another booster but the administration keeps pushing the shots. confusion. marc siegel sorts it out. he going to be in our next hour. the white house says iranian nuclear talks are moving forward, despite the growing protests there. how can we negotiate with a government that is killing its own people? i will ask kt mcfarland. those protests are really heating up. russian troops are forcing ukrainians in occupied territory to vote for a referendum to join russia.

violence breaks out over the russian mobilization move. we have the latest on the war in ukraine next. ♪. this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each, with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you.

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♪. stuart: all right, it's 10:18. been in business now for what, 48 minutes, something like that and the nasdaq has gone up nicely. it is up close to 150 points. a minor loss at this moment for the dow industrials. now this. russian soldiers forcing ukrainians to vote in staged referendums. tell me more. lauren: we mean forced. the russian soldiers are going door-to-door with portable ballot boxes and guns, demanding that residents vote to be part of russia in these elections in four regions of ukraine that russia currently occupies,

donetsk, luhantsk, zaporizhzhia. u.s. called the elections a sham. we get the results tomorrow. putin is completely desperate. he is now mobilizing ukrainians in these territories to fight against ukraine, as russians protest the mobilization across the country. some are fleeing, thousands of cars lining up at some of the land borders, right? now putin has forbidden men aged 18 to 35 from leaving some parts of russia. the u.s. has 80,000 russian troops have been killed or injured in the past seven months of this war. he needs fighters. he can't get them. he is getting desperate. stuart: desperation indeed, thank you, lauren. white house national security advisor jake sullivan says iran nuke talks are continuing despite protests spreading throughout iran. watch this. >> first, george, let me just say the fact we are in nuclear

talks is in no way slowing us down from speaking out and acting on behalf of the people of iran. we're not going to slow down one inch in our defense and advocacy for the rights of the women and citizens of iran. stuart: by the way the riots and near insurrection in iran is getting really hot this monday morning. kt mcfarland joins us. how can we negotiate with a government that is killing its own people? i understand five parliamentarians have been killed. >> nobody can figure out this obama administration, biden administration love affair with iran. 2009, deja vu all over again, iranian people took to the streets, pro-democracy? they sided with mullahs. they got the fake nuclear deal which didn't stop iran's nuclear program. trump comes in. pulls out of the deal. iran was cheating anyway. biden folks, same people, let's do this again. let's renegotiate this flawed

iran nuclear deal. meanwhile as you point out hundreds of thousands of people all over the country have taken to the streets to protest the regime. instead of, instead of saying look we support democracy, we support reform. no, what we're doing we're supporting mullahs in iran yet again. stuart: there is not a word to my knowledge, not a word from the white house in support to what the people in iran are trying to do, not a word? >> there is a, not a word. when jake sullivan gets up there, we're sporting human rights, come on for get it. the demonstrations in iran amazingly are because of a feminist issue. women's rights have been denied for 20 years. and so if you're having iranians of all political caste, economic, social caste all around the country protesting something that you wouldn't necessarily think iran would protest against you know those demonstrations are serious. there is a much better idea nobody in the biden administration is going to do and the better idea, have elon

musk, like he did with ukraine, put up a starlink satellite link so the people of iran can communicate with each other. what the iranian government has done, what they always do, they shut down the internet. stuart: could that happen? if husk put his starlink the people of iran could get open information? this could happen? it could work? >> they could communicate with each other which they can't now because they shut it down. look what happened in ukraine when elon musk put the starlink satellites over ukraine, what happened it allowed the ukrainians early on in the war to talk to each other. probably allowed them to gather a lot of intelligence about the russian movements. it may be one contributing factor to why the ukrainian military did so well against the russians. stuart: musk to the rescue again, please. next one. kt. >> again, white house says putin is struggling badly but won't designate russia as a state sponsor of terrorism. does it make any difference if

we did label them as terrorists? >> not at this point not a whole lot because we don't do a lot of business with russia but putin, the point putin is getting quite desperate. what does he have? he knows he is losing this. he knows he can't survive. he can't stay in power in russia. he probably can't stay alive in russia if he loses this war. he is doubling down. why they're calling up all the reservists. it may make a difference. make a difference in numbers. probably won't make a difference in capability because they will not be trained. the other thing this winter is blackmail, energy blackmail. he will cut off energy supplies to europe, especially germany. doesn't mean they have to be cold in winter in their homes. they can't power their factories. but the other thing which has everybody really paying a lot of attention is putin is threatening using nuclear weapons. now, you know, is he going to use nuclear weapons? probably not but it is not, it is not the odds i'm concerned with, it is the stakes. the russians have a lot of

short-range, low yield tactical nuclear weapons which we don't have them. we got rid of them a long time ago. ours were called davey crockett. everyone would have a davey crockett hand grenade, nuclear hand grenade in its pocket. russians still have the weapons. would they use them, could they use them? probably not. again what are the stakes here and how desperate will putin get. stuart: well he is desperate now. kt mcfarland, thank you very much. i'm sure we see you again soon. still overseas north korea fired two ballistic missiles into the sea this morning. ashley is with us today. why are they doing this, ash? why the show of force now? reporter: sending a message as always, stu. good morning. north korea firing a second ballistic missile into the sea yesterday. this is ahead after visit by vice president kamala harris to seoul, south korea later this week that is the message. kim jong-un fired first missile

on saturday as the uss carrier ronald reagan entered the region. they use the test as as show of force. prior to saturday's launch pongyang hat had not fired a missile since june. these latest launches are cone demmed by the u.s. military said in a statement the u.s. commitment to the defense of the republic of korea and japan remain quote, ironclad. stu? stuart: ash, many things. the head of the atlanta fed warning people they could lose their jobs if we don't get inflation under control. watch this. >> inflation is high. it is too high. there will likely be some job losses. stuart: stephen moore deals with that coming up. the white house insists the economy is headed for strong and stable growth despite the fed predicting a significant slow down. edward lawrence has the full report from the white house after this. ♪.

then i got the dexcom g6. i just glance at my phone, and there's my glucose number. wow. my a1c has dropped over 2 points to 7.2. that's a huge victory.

♪. stuart: we're bringing you some of the prettiest shots from all around the country this morning. that is in new jersey, is it? indiana. >> they gave you a good song, cream, "white room." stuart: i remember that. clapton is god. if you like the music we play on the show follow us on spotify. look at the qr code. scan it and get free music. we've been business for an hour and we all turned green. the dow is up 20. big gain for the nasdaq up 1.3%. that is 144 points. not bad at all. we got movers including roblox. it is up five%. lauren: look at that. they have a deal with walmart to launch where walmart will launch two emersive experiences in the metaverse that is roblox. this is how walmart gets the younger shoppers. this is the first for ray into the metaverse.

you can see toys and other items there. i get it. i get it. stuart: if you can do the metaverse thing to get youngsters to buy stuff. lauren: you won't do it but your grandkids. stuart: my grandkids will do it. planet fitness is up. how much up? lauren: 5%. double upgrade. raymond james takes them up to a strong buy. they say their business is recession resist stant. the price target? $70, for raymond james that is 90% increase from the prior target. stuart: gyms are coming back. lauren: cheap gyms are coming back. stuart: oh, boy, we'll get emails on that. lauren: inexpensive, affordable gyms are coming back. stuart: li, lee auto? lauren: look at this, look at these names. stuart: chinese company. lauren: li auto came out to cut their delivery forecast for the quarter by more than 2000 vehicles. that is not good news. then you have beijing announcing a extension of the tax break for

chinese consumers purchasing electric vehicles. li is up big as well. stuart: those ev makers are all over the place. lauren: it's a government-driven kind of a market with the incentives. stuart: the fed says the economy will slow significantly to just 0.2% growth for this year and then maybe 1.2% next year. i call that rather weak. edward lawrence at the white house. you asked the administration if this is the stable growth that president's been touting. what did they tell you? reporter: their response to me, yes, they do expect the economy to slow down as the federal reserve raises interest rates but i think it is important to hear my question about economic growth and her answer. listen. they projected the economy would grow at just .2% this year and 1.2% next year, which is pretty slow growth. i'm curious, is this the stable growth you're talking about? >> so i talked about this a little bit already, how we're coming off the of last year's

historic economic growth. a lot of that is because of the work of this president. so given the encouraging initial signs that we have seen on inflation and the continued strength of growth in the job market, so we believe the transition remains possible. we believe that we will get to a strong and stable growth. reporter: sew the administration has yet to defined for me what kind of growth we can expect from the transition. federal reserve sees it under 2% for next three years. many republicans blaming the american rescue plan for really launching inflation. >> the president continues to talk out of both sides of his mouth. he just cannot connect the dots. he is like don quixote out there fighting windmills and covid is his windmills but he uses the declaration of emergency to seize power. he thinks he is a king. he uses it to justify his inflationary spending. reporter: there has been no change in the policies for this president or the call for more

spending to go forward and deal with the inflation we're having. back to you. stuart: we hear it. edward, thank you very much indeed. back to the markets briefly. we got the dow now moving to the south. that is it is down 34 points. s&p and nasdaq still up. here's a headline for you, the bitter fruit of inflation, dow 29,500. please look at the date of that? may 1st of this year. stephen moore wrote that along with art laffer and stephen joins us now. you got it right in may of this year you predicted very correctly dow 29,500. congratulations. where do from here, stephen. that is what we want to know? >> stuart, this is one of the times i wish art laffer and i were wrong but we were spot on that. is pretty amazing. we predicted that not just pulling a rabbit out of a hat. we looked what happened the last time we had this kind of

stagflation back in the '70s, you're seeing. this is what makes me so nervous, everything we're doing in washington, especially with the fiscal policy is exactly the mistakes that you know nixon, ford and carter made in the 1970s. so this is just kind of a repeat of that cycle. when you look at the white house prediction of 1% growth for the year, that's pathetic. by the way, latest numbers from the fed as you were just saying show 0.2%. here is my feeling about where we are right now, stuart. i do think inflation is coming down. i just looked at the commodities index. it came down again over the last couple weeks. it looks like inflation is subsiding a little bit but the growth no growth. stuart: is the market coming down, is the market coming down some more from here? >> you know, where is the growth going to come from? i'm not a great stock market predictor. i simply look --

stuart: you got it right in may. you got it right in may. i want you to get it right now. where is it going? >> now is a pad time to be investing in the markets. it is, all of the signals are kind of negative coming from the united states. now, stuart, there are some rays of hope. i love what liz truss is doing in england. i think it is exactly the right agenda of cutting taxes, reducing government spending, deregulating moving back towards fossil fuels. it is exactly what the united states should be doing. i believe you're going to see in the months ahead actually, i like the uk market right now. i think people should be investing, not disinvesting in the uk but investing in it because liz truss has the reagan-thatcher formula. stuart: and she's right. that's over there. that's the brits. you're not seriously saying biden and the democrats will cut taxes, lower regulation in the united states? they're not going to do that. they will do the exact opposite. >> they're not.

stuart, you're right. they're not going to do it but you know what? as you and my friend larry kudlow would say the cavalry is coming. there will be a big change election in november. you take the gaveli'm not one oe stampede of new spending and all these global minimum tax. stuart: can you? can you? >> liz truss is my hero. i think she will lead, i wonder if you agree with me, i think she will lead the world out of this -- stuart: i would love to agree with you, are you telling me if the republicans retake the house and the senate they can reverse all the spending increases which have already been voted? they can't reverse it? they can't reverse the tax increases? >> tell you what they can reverse, stuart. they can reverse the $80 billion for the irs. come on, why are we spending $80 billion on the irs? they can suspend that spending. now -- stuart: okay.

>> i'm not saying they will reverse all of the bad things that biden has done. i'm saying they can stop the stampede of new policies that biden wants that i think will stop right dead in their tracks. by the way, remember, in 1994 when republicans took congress it was a big surprise. the market went through one of the biggest booms in the country's history. stuart: we hope and pray, stephen. that is what we do. okay. stephen moore, always good. will see you soon. good back to ashley joining us now. talking about the impact ever inflation. how many people will actually change their holiday shopping habits this year because of inflation, ash? reporter: quite a few according to a recent survey conducted by bank rate. two out of five, 40% in the survey said inflation will indeed change the way they shop for the holidays this year. how? well 84% of holiday shoppers questioned in that poll said they were trying to save money this year with 40% saying they would be buying fewer items.

21% said they would be purchasing gifts from cheaper brands. 41% said they would seek out coupons, sales, other discounts. that makes sense. another 14% of shoppers said they would be making more diy gifts. you don't want one of those from me. while another 11% said they would be giving used or secondhand items as presents. one last note, a jump in grocery store prices we know that could mean of course holiday dinner items will be a lot more expensive this year. happy holidays, everyone. stuart: i will give you three words, the worst in the english language for people like you and i, ashley, some assembly required. >> assembly required. yes, nightmare. stuart: back to you later, ashley. thanks very much. a great story, very interesting. nasa is preparing to crash a spacecraft into an asteroid. we have details what is being called the dart mission. governor desantis deploying the national guard as hurricane

eyian heads towards florida. fox's nicole valdez on the ground in tampa with the latest report right after this. ♪.

♪. stuart: a state of emergency in effect in florida. hurricane ian just strengthened into a category 1 storm. nicole valdez in tampa for us. the latest from tampa, please, nicole. reporter: stuart, good morning. an impassioned plea by the hillsborough county sheriff announcing mandatory evacuations for parts of tampa bay. saying in part we expect to have to evacuate over 300,000 people. that is why we are starting today. he is already asking those who

live near the bay here, to go stay with friends or family. at least 20 miles inland as a hurricane watch is already in effect for parts of tampa bay. hurricane ian aiming towards florida's gulf coast. schools here in hillsborough county already closed for the week. many will be now transformed into shelters. 50 or so will be open across the tampa bay area. floridians thankfully are not waiting to eact to this storm. we have already seen thousands rush to the grocery stores to get their hands on water, batteries, food, medications they may need to last them what could be four to five days. fuel is already running low in some portions of the state. some have been waiting three hours if not longer for the last several days for sandbags to protect their homes from the storm surge that could quickly flood some of the low-lying communities in this area. >> make sure you have your medication. make sure you get some water.

make sure you can get food to sustain yourself within three to four days. in this area we could see a lot of flooding, lot of power outages for multiple days. it is hot outside. reporter: just yesterday governor ron desantis says he expects to see power outages. you're looking at video now of just the massive line of cars that we have seen throughout the last several days trying to get their hands on those much-needed sandbags. floridians urged to take the evacuation orders that have now been put in place seriously. already 2500 national guardsmen on standby ready to respond to hurricane ian. stuart? stuart: nick be coal in tampa. thank you very much indeed. hurricane fiona, knocked out power last week in puerto rico and made landfall in canada. significant damage i believe, ashley? reporter: substantial. in fact officials still trying to assess the scope of the devastation from former hurricane fee own n the storm by

the way hit before dawn on saturday as post-tropical cyclone still at hurricane strength t battered canada's provinces nova scotia, prince edward island, newfoundland and quebec. not only hurricane strength winds but winds, huge waves, knocked out power across the provinces. canadian troops have been deployed to help residents to recover. to try to clear hundreds of fallen trees. more than 450,000 nova scotia customers lost electricity. 95% of customers lost power on prince edward island. stuart: this story really intrigues me. as we reported a nasa will crash a spacecraft into an asteroid. the operation begins today. why are they doing that? reporter: yeah. it is about an effort to redirect the asteroid in a script right out of hollywood, nasa will slam a spacecraft into

a little asteroid tonight. the first of its kind mission and it is designed to test whether or not nasa will one day be able to push a potentially dangerous asteroid off a collision course from earth if the need should ever aride. tonight's target is asteroid meanlit the asteroid is 500 feet wide at 7:00 p.m. eastern. they will use all means to follow it. how much of the impact throws off the asteroid off the of its orbit. it is fun and very, very cool. stuart: yes it is. futuristic. thanks, ash. we have a new study. don't like the sound of it, older people at covid may be at higher risk of developing alzheimer's. we have the story. the faa rejected idea of reducing number of hours it

needs to get certified. mess is a airlines developed its own pilot training program. the ceo tells us how he is spending big now to make more money in the future. we'll be back. ♪ alright, limu, give me a socket wrench, pliers, and a phone open to libertymutual.com they customize your car insurance, so you only pay for what you need... and a blowtorch. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ here goes nothing. hey greg.

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♪. stuart: we're playing that song because the nfl just announced that rihanna headline the super bowl xx 23 super bowl. in glendale, arizona, february 12th. rihanna previously declined to perform in the 2019 super bowl, half time then, she wanted to show solidarity with colin kaepernick. got that. mesa air lines is a regional carrier based in phoenix. they're frying to solve the pilot shortage. they're buying small planes, to give pilots interest free loans to fly around to get certified. that is how they're solving pilot shortage. we have the chief executive at

mesa. he joins us now. jonathan, looks like you plan to make more money in the future by spending big now. is that it? >> i think we are in a position where we have to do something to alleviate this very severe pilot shortage affecting the entire industry, ultimately really affecting the consumer. it is the worst i've ever seen in my 40 year history in aviation. stuart: how many hours does a pilot need to be certified for a airline? >> right now they need 1500 hours in time. that is up from the original 250 where pilot would receive its commercial license. we put this law into effect back in 2013 and since then, this problem has been building. you know what is interesting, this law, it doesn't exist, this regulation doesn't exist in any other country in the world and we're the only place where there is a shortage. the impact is huge. stuart: so, have i got this right? you have got these smaller

planes. you're giving pilots interest-free loan, get out there, ride around, get up the hours, then you will be certified. are there any passengers on the planes? new pilots are, they complete amateurs? >> not all the pilots in the program have the commercial license. in the past they would be certified to fly larger aircraft. because of digs hour requirement they need to build that time. these are small aircraft, just two passengers. both pilots will be in training. they will build hours by flying small aircraft. we will let them. stuart: how much have you budgeted to take care of this problem? how much are you spending? >> oh, it will be in the millions of dollars for us which sis a pretty significant amount of money. would i suggest that the program when it is up and running will cost us you know, somewhere between four and five million dollars a year. stuart: one last one, mesa, right now, how many pilots are you short? >> we should have about 1150.

we're probably short 400 pilots right now. stuart: 400, my goodness. >> it's a problem throughout the industry. we're watching the regional aviation sort of evaporate as a result of loss of pilots. regional aviation puts 60% of all departures in the united states on regional aircraft. that will be a big impact. stuart: great idea. thank you for coming to the help of america. we do appreciate that. and mesa should do well. jonathan orn steven thank you. miranda devine, kurt volcker, dr. marc siegel. 60 years ago, mario savio let 500 students to ban berkeley university ban on political activity. his free speech movement won hands down. today free speech is losing. that is my opinion. "my take" is coming next. ♪ that's a lot of cash back.

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