tv Varney Company FOX Business September 29, 2022 11:00am-12:00pm EDT
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america, 12,000 pounds of fentanyl at the border this year, enough to kill us all, 100,000 already dead, a lot of money in this. the cartels are rich. the cartels took $500 million in 2018, this year it is estimated $13 billion. if trump were president and the wall was in place does anyone believe the cartels would be the billionaire killers they are today? the president and democrats will not do anything about this. if the republicans retake congress maybe we will get some action. surely intelligence services know who lead these cartels. indict them and demand extradition. pression the mexican government to get a grip on their own country, build the wall, walls work and go after the money. why haven't we done that already? the bottom line is biden created a monster. republicans have to clean up
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the mess. third hour of varney starts now. kayleigh mcenany joins me now. i am banging the table on this one. why won't biden call out and take action against the cartels? >> he should. it is befuddling because my old boss called the president of mexico, said if you don't take action, in no uncertain terms i'm going to hit you with tariffs. it was a big threat and the mexican president and up caving to the hardball, partnering with us, became a friend of donald trump's, but thousands of mexican troops on the border. you need the partnership of the mexican president in order to defeat the cartels, to take aim at the cartels you have to have that medic relationship and he doesn't, the mexican president told biden the migrant
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president, not really a cordial relationship. stuart: i saw a report that donald trump considered bombing the fentanyl labs are going after them militarily in mexico. forgive me for asking. do you know anything about that? >> i never heard anything about that. that was above my pay grade but we've got to seek action. i have a young daughter and things like rainbow fentanyl being something you see at the ymca or something, no indication it is affecting younger kids at this point but the weight is packaged in skills packaging it becomes extremely lethal, not just infecting those who engage in drug activity but our youth, make one simple mistake like order it online and take fentanyl and losing their lives from one simple mistake so we've got to take action. of the one we've of the one we got to do something. the white house is doing i guess you would call it damage
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control after the president seemed to search the crowd for a deceased congresswoman. roll tape. >> president biden: i want to thank all of you, representative -- jackie, are you here? where's jackie? she must not be here. stuart: he was searching for congressman who died in august. the white house is now defending that gaffe. watch this. >> of course she was on his mind. >> the confusing part, is why if he is top of mind, does the president think she is living it in the room? >> i don't find that confusing. stuart: i don't want to be nitpicky, this is difficult subject, we are talking the president's mental health if you like. he's clearly confused. >> it was fascinating to watch the white house press briefing, first time i can recall, they bound together in a way and
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asked the same question over and over, 5 reporters asked her about this, wouldn't let it go. one reporter said i am sorry i have to ask this again, and why do you have to ask it again? the reporter's jobs and you even had cnn reporters, washington post reporters asking about this, one noting the president was clearly confused, first time i have seen these liberal outlets ask about his mental acuity it was deserving of that. stuart: time some senior democrats have a quiet word with the president and urge him not to run into thousand 24? >> absolutely. when you make a mistake like that in the press secretary says it was a slip of the tongue, we apologize or something to that effect she doubled down and one reporter even said i've got to ask this question because the memory of the late congresswoman
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demanded, i am paraphrasing so a serious moment, not only that but you are exactly right, democrats should say you want to sit this one out but mayor pete, take a shot at it. stuart: i wouldn't have wanted your job when you were press secretary to donald trump and i certainly wouldn't want karine jean-pierre's job, press secretary to president biden, very difficult position. >> only when reporters asked tough questions which they did for the first time yesterday. stuart: we will be watching you on outnumbered. the show i call ambushed, at 12:00 noon my 55 minutes away. we will be watching. if you are not careful, i would. back to the market it is selling off, the dow is down 500 points, look at that level, 29,000 one hundred 77. close to dropping below 29,000, dow winners on screen, there is one. the rest are on the down side. the s&p 500, we've got the
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winners. rollins, occidental pete, the rest are all falling to me. nasdaq winners are all on the downside, every single one of them. those that. least are on the list. they are unchanged. charles payne is here. i know you know. 10 year treasury 377, price of gold 1600, 1662. bitcoin 19,000 and change. oil where are we? $82 a barrel. natural gas lower this morning at $6.69. this is interesting. the average price of a gallon of regular gas is moved up again up to cents to 378 but look at california, 6-18. there are other problems. charles, stop gesticulating to the floor manager, you are on. how long is this bear market going to continue?
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charles: i think between now and the midterm elections. i think we are putting in a bottom to the process. stuart: that is the first kind of positive thing i have heard in a long time not just from you but from anybody. charles: you've got traditional seasonality factors come midterm factors and carnage. i don't think people realize, one of the worst years for investors. i put it up to two things, part of the conversation you just had to the media doesn't want to talk about this, they really don't want to talk about the carnage and we haven't had those dramatic days, 1000 points is not what it used to be. we have 5, 6, 9% days but the worst year, the fourth worst year for stocks, you combine that and the average person is sitting on massive data they have been set back dramatically. the carnage is in already.
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the initial jobless claims come in better-than-expected and the market takes a big leg down. when will come in soon? higher-than-expected? take big legs up. with respect to the fed over doing it, everything is predicated on the federal reserve, that is what everyone is concerned about. will they go too far? will these policies, same folks that missed everything, thought inflation was transitory, will they go to the other side? >> quite ability is on the line and i would say that for the bank of england too but when looking for those capitulation type days, when you have a vic's that is not spiking. charles: there -- glad you brought it up, one of the best technicians on street on the show today, the stock is in studio, we will go over it yesterday. and i don't by a traditional
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blow off, they capitulated a different way. the new investor revolution in 2020-2021 has given way to professional managers. if you look at the passage funds, it is taken off. the notion that i can do it on my own so many people have given up particularly millennials. stuart: we did that story the other day. millennials of walked away from the accounts of the last two years because they lost money and need the cash. charles: that is what i see is capitulation. >> things are not going straight up like we are used to seeing for so long how to invest that. stuart: when you are talking about passive investing, you -- charles: given over, let somebody by an etf and forget
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it. you are not trying to change the system, not trying to pick your own because we are in a do it yourself society, people take pride in that whether they are making preservatives or whatever and popular things on tiktok videos, how to fold clothes. we want to do everything ourselves these days but people take pride in that. they are a little bit gun shy. i can't emphasize how important it is in this midterm election, i really can't because free money situation, it has blown up in our face. if you look right now, if you want to pay $2500 a month, 20% down a little over a year ago, you could have bought a house worth 750,000. the combination get you a house for 470,000, that happens with free money. that happens with free money. it comes back to bite you. charles: stuart: they are putting more free money out there, don't pay your student loan debt, we will
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forgive that. there is pressure to don't pay the rent, don't have to pay the mortgage, don't pay her car loan, don't pay -- lauren: suit will be don't pay energy bills. stuart: 17% of consumers no longer pay utility bills i think. charles: if you look at what is happening in europe it is so scary all of this because of the green utopia and the rush to get to the green utopia, so many self-inflicted wounds. when you talk about the bank of england that is another reason the market is down today. that emergency move has a lot of folks wondering if england was on the cusp of a meaning moment. stuart: thanks for joining us. charles: the just of it, hang in a little bit longer. i think will be okay. the cavalry is right around the corner. stuart: the cavalry is coming. watching you at 2:00 eastern this afternoon on fox business. i like the sound of your
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technician. a chart reader. not have them on this program. it is too technical. okay, everybody, thank you very much. amazon workers are about to get a pay bump. i wonder if that has to do with the unionization movement? california governor newsom thinks democrats need harsh messaging against the gop. >> presidents learned the hard way, and he wants to find the sweet spot in terms of collective vision and values but not how it is defined. stuart: former democrat leo terrell in california will take that on. the sheriff in lee county, florida in the fort myers area said that there were fatalities on the ground. we are going to question that and take a close look at what
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stuart: rescue workers are searching desperately for missing people after hurricane ian devastated the florida west coast. ashley webster is in panella's park, florida. what is happening where you are now? ashley: the cleanup goes on. the overriding emotion is one of relief. at the beginning of the week, tampa st. petersburg could take a direct hit, the storm, hurricane ian,
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went further south. but this is a typical neighborhood, somewhat of a typical scene we are seeing as we drive around. the rain has stopped and we end up, i'm told this is a laurel oak. as you know there has been a lot of rain in florida before hurricane ian showed up. when you get 6 to 12 inches of rain, this root system can't handle those wind gusts, still windy today, 30 miles an hour, 75 mile an hour gusts. it gives you a sense of how big the storm is. the i of the storm in west florida in fort myers, 140 miles away, but the clouds around it is enough to push this tree down. what 155 miles an hour is like, i can't fathom it but we saw the video from fort myers and
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the destruction it creates. the big issue here in central florida north from here to orlando, tremendous flooding rains. more than a foot of rain in orlando overnight, power outages and flooding, water rescues. governor ron santos of florida said this is a historic event and when it comes to water and flooding people haven't seen anything like it. >> the amount of water that has been rising and will likely continue to rise as the storm is passing is a 500 year flood event. this is having broad impacts across the state and some of the flooding you will see in areas hundreds of miles from where this made landfall will set records. charles: they are setting records, all right. the cleanup in the tampa st. petersburg area goes on, but authorities saying to people don't go out and start taking photographs. there were 80 traffic lights out this morning the local
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area, trees down, they need to clean up and things are improving, the weather will improve today as the day goes on. another sign of that is tampa international airport could reopen later today. we are waiting for a statement. stuart: thanks very much. let's bring in the mayor of palm coast, florida, on the atlantic side of the state north of daytona beach. i believe you are getting hit right now. is that correct? >> we are right in the middle of a very difficult storm. certainly a convergence of storms actually which exceeds our forecasts and predictions. it truly is one of the 500 year storms we are prepared for. stuart: how much rain have you had? >> we have had well over a foot so far and we expect as much as another half a foot. we could be realizing up to two feet of water in various areas
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of the palm coast. stuart: is the town out of power? >> actually, we've had limited power outages. however, we are anticipating specific flooding areas and putting plans together. we have an older demographic in palm coast city so making sure our residents are comfortable and confident and surrounded by professionals who are well prepared to take care of the flooding problems as they arise. stuart: some cities in florida are considering issuing a curfew to prevent looting. are you considering that yourself? >> actually, our sheriff's office issued a curfew last evening beginning at 8:00 p.m. . for the safety of residents to make sure no one would put themselves in harm's way and make sure none of those folks we don't want in the area would come near. stuart: will you get any money
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from the federal government to clean everything up? >> we are keeping records carefully, we are documenting all of our expenses, take advantage of all federal and state governments have to offer because again this is a storm you won't see once in 500 years so as well prepared as we are we will look for assistance from both governments. stuart: can you give us a rough idea how long it might take to clean things up? >> we don't have our estimates in yet but we have everything from anticipated flooding, something that is important to understand, some of the problems with a storm like this is not during a direct hit of the storm, it comes days afterwards as the floodplain starts to fill so we won't have an estimate for several days. stuart: you will be out of action and slowing things down in your city for some time to come. >> yes we will.
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stuart: we want to say thank you for coming on the show and telling everybody what is going on. we feel for you. i've been in a few hurricanes in my time and they are frightening. i have never been in a flood like that, see you again soon. is the hurricane going to add to supply-chain problems? lauren: looks like it. if you look at tampa, orlando core door, $20 billion in revenue comes from that sector of this one state scattered by agriculture, manufacturing plants, distribution centers, i would go as high as tens of thousands. if any of them are online for a few days that has more lingering effects with what is happening in southeast asia. another supply chain. they had bad weather so you put this all together out of the holiday season and it could be bad. stuart: that is the hurricane, back to the market, the selloff continues and i want to look at amazon.
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they are raising wages for hourly workers, does this have to do with unionization? lauren: it does in the holiday season. hourly workers at amazon and transportation and warehousing will make an average of at least $19 an hour that will cost amazon a million dollars the year. it starts next month. it is a way to offend off unionization and activism because wages are usually a sticking point. that is what most of this talk is about. stuart: senator warren, bernie sanders, demanding 15 an hour for walmart workers and they got it. amazon is going to $19 an hour. lead to the cost of living has gone up so much too so the new 15 is $19 an hour with this dramatic spike. stuart: show me the markets, the selloff continues, the dow is down 500 points, nasdaq down
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338, over 3%. i've got to believe most of the big tech stocks are down, yes they are. down 4. 8%. there is one analyst at bank of america who downgraded that. i've known about that for one time, he did it, stock is down. alphabet 3% lower, microsoft 2.3% down. a new law in california will require employers to include salary ranges in job posting to help fix the gender and racial pay gap. as crime rises around the country more democrats coming out as pro police. it seems like a ploy to suburban voters. i will put that to leo terrell next.
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it, the 61st homerun of the season. that is his mother, the lady on the right, and the gentleman she was hugging his roger marist junior. he's got the record now for the most home runs hit in a single season by a player, he matched the record, 7 games left to break above that match. what a night. back to the markets, we have to do this. the dow is down 468, 359. the governor of california, gavin newsom, think democrats need harsher messaging against republicans. >> i'm optimistic that if we go on the offense, that is why i'm doing this, doing tv commercials and other states. the president learned that the hard way. you wants to compromise. you wants to find that sweet spot in terms of answering
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collective vision and values but that's not how the system is designed. stuart: leo terrell lives in california but is with us this morning. it sounds to me like governor newsom is definitely running for the presidency. characterizing president biden is somewhat soft. >> thanks for having me. let me be as clear as possible. gavin newsom wants president biden's job. he is no friend of president biden, he sees him as an impediment, the only way gavin newsom cannot run for president of president biden runs. he is throwing president biden under the bus.
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voters will tell them how upset they are. i live in california. it is a danger zone to live in california. governor newsom and other states, all these democratic cities, and and and they vote against them in november. stuart: do everything time will come in my lifetime when a republican wins statewide office in california? >> that is a great question. i hope so but we have to start small, reporting party in california is week. we got to take the city council races, school board races and fund small to big, we have to do it now, basically surrendered california to nancy pelosi, silicon valley, hollywood and gavin newsom. got to take it back and start
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small. stuart: one of these days you will tell me how you really feel. >> waiting for the invitation to go to new jersey and have rotisserie chicken in the bread you love, that is what i'm looking for, waiting for your invitation. stuart: it is $10 a loaf bread, $8.99 rotisserie chicken. i can't afford it. see you later. good luck to you. all right. california passed a new law which will require employers to list salary ranges. why would they be doing that? lauren: you cut to the chase because i'm going for that job, this is the range, that is okay, that part makes sense. that's the other part, california is demanding companies with 100 employees to submit annual pay data broken
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down by race, and ethnicity. and employers will get so mad, it opens them up to lawsuits. blue one what on earth is with california. and made a great state in the first place. i'm paid less than men because that is what data tells me. there's a small part of me that says that. stuart: you think we should be public about who makes what? >> that is a danger zone for employee unrest and lawsuits sometimes are necessary for companies and i firmly believe you should get the job based on merit and not anything else. stuart: okay.
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it is -- perhaps some of our viewers could call in with a question, friday feedback and you can answer that question. >> the women i live on this one. stuart: moving on. lauren: you didn't expect that. stuart: very entertaining, this show. we have all points of view. you are the only person on this show who offers an opinion. lauren: sometimes. but when it is my show, my name on it. you are the guests. they are guests. you are not a guest. see you tomorrow. lauren: i work. stuart: drone footage, dramatic stuff, drone video shows the sanibel causeway destroyed. this is on the west coast of florida near fort myers where a hurricane made landfall. we have a report of massive devastation. that island, that is devastation. we will be back.
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stuart: joining us now a very important guy and a brave guy to boot, major kendall done, hurricane hunter pilot. i have seen your reporting on fox news earlier this morning. you flew through this huge storm and i think you had a hard time. take me through it. >> it was pretty eventful. we did our basic mission, flew through the i have a hurricane a couple times, pretty much standard, a little bit of turbulence up and down, not too
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bad but when we made our third past some people might call might change in experience, really intense. severe turbulence. stuart: was it like a roller coaster at disney or something when you go straight down and furious stomach -- >> tower of terror multiple times, being inside a 200 mile an hour car wash. stuart: how did you control the plane or was the plane ever out of control? >> the hurricane was in control of the plane, we were trying to keep it straight and level and not overspeed but it was having its way with us and we popped out and clear air and looking for 0 wind speed so it is more comfortable. stuart: i'm sure you've done this before but have you seen anything like this? >> no, sir. been doing this a while now.
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we had some moments that was a good one, that was a good one but this one makes you start questioning life decisions, how did i get here? why do i do this? your crew is dependent, i can laugh about it now but i don't know. stuart: what are you doing? measuring wind speed or atmospheric pressure? >> national hurricane center, satellites, to get the most up-to-date data showing they were in the storm with us, our hurricane counterparts in lakeland. we are measuring wind speed, humidity, pressure, we are looking for the center 0 wind, the pressure, the hurricane center can use the data because it is constantly spitting data from satellites back and put it
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into the models, stuff we see with our eyes. you can't see hail on satellite but we flew through hail and the indicator, large developing storm and sending information back and putting it to the public. stuart: hat tip to you, what a job you did. thank you very much, hope to see you again soon. i've got some dramatic pictures. look at the left-hand side of the screen, that is fort myers before the storm hit, left-hand side of the screen. same neighborhood after the storm, right outside the screen, that thing is underwater completely. that is fort myers. robert ray is there in fort myers, that looks like that are devastation to me. >> this is really as bad as it gets in the aftermath of a hurricane. this is some of the damage ian did.
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look at these boats. look at this boat on its side. another one on its side, another one over there is turnover, a massive yacht that is on top of all of these pushing them all down and look at this. these peers that i'm walking on below these peers styrofoam so they float but these concrete piers broken apart by the force and surge of hurricane ian yesterday. this has been a tremendous seen since it came in, two or three blocks away, the streets of downtown fort myers completely underwater yesterday evening, looked like a river, debris flying everywhere from roofs coming off to palm trees to powerlines blowing up and people here that we have been talking to describe this scene you are looking at from a high rise, many people sat and that high-rise and watched these boats unfold. it looked like a dominoes game
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as different pieces of concrete kept moving around and smashing of the boats kept colliding into each other as the hurricane force winds that moved in pushed all this water, this surge in and toppled this. here's the thing, search and rescue crews down by the shores are going through homes in this devastated beach community, those inlets. later this afternoon we will assess for ourselves. up in the sky, there are helicopters surveying this entire area and you're getting the sense that those crews that couldn't get in because of the wind earlier are making their way in, state, federal, volunteer groups like the cajun navy, walking to the boats to the air, people are trying to see who needs rescuing lose meanwhile we will see about the casualty numbers that were
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brought out and governor desantis toning that rhetoric down. we will see in this aftermath. so much ahead of us in this pile of destruction of boats. stuart: the right pictures to show. thank you for joining us, see you again soon. back to the market. the time we are trying to give a sense of how the market is trading and on the left-hand side you can tell there's an awful lot of selling today, the dow is down 400 points, 29,200, only three of the dow 30 are winners. next case, fox and friends cohost ainsley ehrhardt has a new children's book called i'm so glad you were born inspired by her own daughter hayden. ainsley is
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when you see your newborn, that is love at first sight, best day of your life. so glad you were born is the best title for your book. where you come up with that? >> when i and and you've made a big difference. his wife he said tell ainsley this has to be the name of her next children's book. we have dance parties, music and dance and we've been doing it her whole life so here she is may be 4, that was probably 3. stuart: it is a christian book. >> talked about how god has a
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plan for your life, not one particular faith but it is geared to wall faiths and all children, you are not an accident, there is a purpose for your life and have fun, enjoy it, don't take it too seriously. once i has to be an oasis, we want our kids to bring their friends to us and have good food, when we were babysitting we wanted pizza and snacks. >> ainsley stayed up until midnight on a school night making a tent and they slept in it. >> i know. stuart: how would you handle things if you had 6 children? >> she shot that down. stuart: i had forgotten about it. >> it wasn't -- i was going through a divorce, wasn't in the cards. i got to the point she is 6.5 and i would love to have more children. that would be fun. it would be hard.
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stuart: we will rent them all out to you. hold on a second. >> starting over with each one, you have 3, diapers at that stage. stuart: taking over - i've got to get out of this. thank you very much, very good luck with the book. love the title. >> how to grandkids? 13? stuart: 11 thursday trivia question. which state has the most counties? california, texas, alaska, florida? don't say now, the correct answer after this. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities.
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stu: which state has the most counties? >> lauren? i'll go with florida. stu: i'm going with texas. 254 counties. thank you for all the help and criticism. we're worse today at the corner and again, awful lot and this is looking like an awful month with these losses right now, we're looking at nasdaq likely to have only one more day of trading to go. down about 6.5% and the dow and s and p off similar amounts because interest rates are backing and you happen dow looks strong as i'll get at and questions about whether anyone can get out of the way of this economic freight train. ? the meantime, they're looking
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