tv Varney Company FOX Business October 4, 2022 10:00am-11:00am EDT
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peace of mind... consider adding this. an aarp medicare supplement plan. take charge of your health care today. just use this...or this to call unitedhealthcare about an aarp medicare supplement plan. stuart: it is pouring with rain in new york city today into tomorrow. it is 10:00 eastern. to the money plenty of green this morning giving us some more, thousand 715% imports, back to 30,200 and nasdaq, 330
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points higher, better than a 3% gain. this adds to yesterday's rally combined with 5%. 10 year treasury yield, it is down and that is why big tech was doing well. on the upside, opec is considering a production cut, and going up 20,000 $27 per.. it is 10:01, tuesday morning and we have the jobs report, the number of employment openings. have you got a number? lauren: job marketing is tightening, the jobs decreased to 10.05 million on the last business day of august, down sharply from 11.239 million in july. it is the lowest reading since
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june 2021. stuart: investors seem to like that. market has gone up more, now you up 767 on the dow, 350 on the nasdaq. lauren: they released the september jobs report friday. what we are seeing now talking about because or pivot but maybe it is just -- talk about the pace of the increases we've seen from the federal reserve, you can go up but not as much. stuart: any weakness in this where it has taken good news because the fed might pivot. lauren: it is not a pivot, just slowing the pace. stuart: slowing the pace but semantics. thanks, now this. new york city workers constructing a tent city in the
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bronx, now they are taking them down. it is a migrant debacle. aoc in particular. she had no time for the tent city. we can find a better solution, she said. the new york immigration coalition came up with an excuse to get rid of it. it is gone. how times change. remember when aoc was reduced to tears about kids in cages at the border, she ranted at the implicit racism of keeping migrants of color out. now she doesn't want them in her own part of town loosing with the elites of martha's vineyard, not in my backyard. what do we do? i will make myself unpopular saying this but at some point they are going to work. they are not going to go back so what are we going to do with them? surrounding camps, shelters, cruise ships while taxpayers shall out millions? there are reports of venezuelan migrants being picked up in
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vans and driven to do cleanup work in florida? migrants in the bronx, tent city, will be moved to a new camp on randall's island in new york harbor. is that so different from governor desantis shipping migrants to another island? martha's vineyard? the second hour of varney just getting started. rachel campos duffy joining me this tuesday morning, can i say that? good to see you. i am sure gonna listen to this, i know i will be unpopular but i think at some point they have to work, you can't have millions of people sitting in camps on cruise ships in hotels and in shelters doing nothing and we pay thousands for it. you can't have that.
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they've got to work. >> we have to close our border. back to what you said, fox and friends sent me into aoc's district interview her constituents and it was fascinating, no way that location was decided for that tent city without mayor adams consulting the congresswoman of the district, she knew but her constituent said there was 0 communication, i spoke to community leaders who said no community meetings to discuss this. they knew it was a flood zone before they made the decision, that is well known fact about that area so she knew it was going to happen, she started to get blowback and what did she do? the same thing the rich white liberal secular ladies did on martha's vineyard, she said get them out of here and that is what happens. that's the thing about aoc, she really is not alexandria ocasio
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cortez, she is sandy, she think like the liberal white ladies on martha's vineyard and that is why last week she said abortion is an economic issue and frets about having kids because of the weather and is worried about climate change. none of her instincts are really about the immigrants or hispanics she claims to represent and crying outside the detention center. as soon as it came to her neighborhood she said get on out. hispanic women love their children, they love their families, they want more children, they don't want to kill them and they don't want to not have them because of the weather, they want the government and in particular her green new deal war on energy, on american energy that is destroying our economy and purposely impoverishing people to end, she is responsible for so much of the worst policies from the open border policies, she was the first to say defund
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ice, you see the way she's treating the problem she brought to us send them away send them to another place, get them out of my district, she's a hypocrite and she's very inauthentic. stuart: i think we are going to leave it right there before we get really into it and one of these days we will work out whether or not these folks will work, we will get to that. >> we need to stop it, we need to stop them coming over and deport those who don't belong here. stuart: we are never going to do that. you think we are going to deport 2 million people? not going to happen. they are going to be here, can't have them just sitting around. we will continue this discussion at some point. i know we will because you are mad at me. check the markets. i know you are. i call this rally, 726 points, look at the nasdaq over 3%
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higher. scott shelladdy but you have some concerns, tell me more. >> let's start with three numbers, 3.7% unemployment rate and 8.3% inflation rate. the last hike the fed did to get our base rate to 3.4 was 2.5 to 31/4, an easy one. easy when you have unemployment so low and inflation so high. they have to break the system, they don't care about unemployment, they have to get inflation under control. they are hell-bent on making sure that is the case and here is the problem. this is into pivot. and in the same direction, slow it down a little bit. when we get to the point we
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have unemployment at 4 or 5% and that inflation number does not come down because i don't think it will come down as quickly as they do, what do you do, keep putting people out of work to get 6.5% on employment, keep breaking the system and can't get the number down, that is the problem. they are going to destroy the economy, that is the wrong thing to do. stuart: okay. everybody is disagreeing with the this morning. i was ambushed. thanks for being with us, back next week. >> it is what it is. stuart: that is such a platitude. it is what it is. we will get back to it. start laughing. lauren: they are bought for $1.2 billion buyer south korean internet giant that works out to $17.90 a share cash.
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do you remember early last euros $42, doesn't look like they will get better deal from they got. we won what do they do again? lauren: it is a place you can sell clothing, online marketplace for fashion. airbnb stock is up nicely, 5%, overall markets up. lauren: everyone went to greece and italy and everybody is in munich, oktoberfest and online european tourism, bookings have surpassed 2,019 levels. airbnb is a huge beneficiary and some months it is up 10% in 2019 and can we say the dollar goes a lot further now. stuart: dollar is at a 20 year high. gilead as in gilead sciences up 3%. lauren: jpmorgan sue
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overweight, undervalued with respect to their promising cancer drug and hiv drugs and they spoke about the breast cancer treatment used for other types of cancer as well. stuart: what is this about remote work may cost people their jobs? lauren: easy to explain. you can work from anywhere, employees can work from anywhere, overseas, outsourcing, mit, told this to fortune, it seems very likely a lot of companies will be rethinking this longer-term and outsourcing those kind of jobs that didn't used to be outsourced. if you can do your job from home, be scared because somebody in india or wherever is willing to do it for much less. the timeline on this, she says, within a decade we will see more outsourcing of american jobs. even jobs you didn't think could be outsourced, going to a
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burger joint, the cashier sometimes you could avoid a human cashier altogether, check your cell phone but in canada there is one chain that has a virtual cashier, you're speaking to somebody, you have that person-to-person interaction but that person is in nicaragua making $3.75 an hour, that is happening and more might be happening. stuart: good story. kim kardashian's dream to become a lawyer could be in jeopardy, a case that accuses her of a dump scheme we will tell you about. elon musk tweets out his peace plan to end russia's war on ukraine, not going down well with president zelenskyy. russian troops are on the run, no exaggeration, it is a panic retreat, life report from kyiv next.
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stuart: i have to report there's no let up in the rally this tuesday morning, 739 points up for the dow, 356 for the nasdaq and all sectors of the market are up. look at micron, extraordinary story, new york times are putting micron is going to spend one hundred billion dollars to build a computer chip factory in upstate new york. a town near syracuse, the times says governor huchul and senator chuck schumer played a role in this deal. $100 million.
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ukrainian forces continue to reclaim key territories in eastern and southern regions and ukraine tells fox exclusively the talks are underway to free more prisoners of war. trey yingst in kyiv with more. >> reporter: there are thousands of ukrainian prisoners of war in russian captivity. we are learning about those who were freed and those who remain in prison. as solemn protest the mothers of captured ukrainian soldiers call for their release. we are bagging all organizations who can help us and support ukraine to support us, one mother says. as the war grinds on ukrainian officials are working around the clock to secure the freedom of their troops. >> translator: there's talk of a possible exchange for all prisoners, comrades from the
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national guard who will be taken into account. i can't say the number for security reasons and where they are located but we will make every effort so each of our fighters can return to their homeland. >> reporter: ukraine's interior minister telling fox news in an exclusive interview more talks are underway with the russians to free other prisoners of war giving new details, on the soldiers released from russian captivity as part of a prisoner swap. >> how are your soldiers treated by the russians? >> translator: it was definitely torture, gave the names and places of torture camps where they were, these are not things that are compatible with the times in which we live. >> reporter: overnight there were more territorial gains for the ukrainians, those forces keep pushing through russian lines they try to recapture this region. stuart: i want more on those
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ukrainian troops pushing forward again. rebecca, the russians it appears are losing, they are running away, those are the words in the new york times, what should president biden be doing? help chase them out? >> reporter: absolute the correct. putin has lost the conventional phase of the war. he's done, he knows this and this is why he is signaling he's switching to the next generation warfare in which he will target critical infrastructure and instead of targeting military personnel and military targets he will be targeting the population's will to fight, strategic operation for important targets that president biden needs to be aware of that he himself handed into putin a list of targets that he told putin not to touch but putin is not going to
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follow his orders. putin told us ukraine was a redline so we are in a danger zone and president biden needs to signal strong resolve until putin to knock it off. stuart: what about use of small tactical nuclear weapons? putin has threatened this. the new york times is running a story about small nukes, very hard to use, facing the difficulty of radiation blowing back into russia and the international fallout from the use of the nuke would be extraordinary. do you think he could use small-scale nukes? >> i do. i believe there's a 30% chance that he will do it. he has this psychological profile to do this. unlike former soviet leaders like leonid brezhnev who
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literally trembled when he was asked to push nuclear button in a 1972 some elation exercise, putin is strong and the russians have developed a very unique doctrine, a low yield nuclear warhead that could be as low as under 1 kt. the united states dropped on hiroshima and nagasaki, 15 kiloton, the little boy and the fat man. this is why putin in his speech, very aggressive speech, the united states set the precedent for nuclear warfare. he is signaling to was the fallout, the russians don't care as much. the strategic operation on ukraine, the russians let their
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own forces march through so putin has the doctrine and the capability, the will, has practiced it and has the motivation. because of the conventional face of this war. blue one and he's in a corner. thank you for joining us this morning. see you again soon. how about elon musk? he is getting a lot of criticism after a paul about the war in ukraine. lauren: it was unsolicited, a paul about a peace plan, this gives you his rationale, elon musk says russia is doing partial mobilization, they go to mobilization if crimea is at risk, he continues if you care about the people of ukraine seek peace, that is his rationale. here comes the controversial part.
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the will of the people in crimea should decide whether they are part of russia or ukraine, 58% say yes but some of the votes last week were at gunpoint so he says we should do them under un supervision. either way, he is talking about something he knows very little about. we commend him for sending his space x starling satellites in connection to all this but why is he waiting into this issue. is president zelenskyy's response. he answers up all of the pole. which elon musk do you like more? the one who supports ukraine? or russia? russia is supporting this idea of a negotiated peace. stuart: zelenskyy is a smart guy, very good response. lauren: stick with robots, stick with twitter. stuart: times link puts it in the first place and he loves to make headlines.
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is a provocative guy. maybe i am being overly sympathetic. maybe there is a conspiracy beneath the surface here. the supreme court back in action kicking off cases involving the environment, election laws, voting, crime, a clerk for justice clarence thomas, which key cases to watch. as sheriff in texas, a recent surge in human trafficking in his county, griff jenkins at the border next. ♪
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there is not a metal in the world with more efficiency and reliability than copper and the transmission of energy. libero >> there is not a metal in the world with more efficiency and reliability in the transmission of energy. we are focused on 3 significant assets focused on copper. 90% of the world's copper comes from mines. it is disseminated and size and scale. illion tons. it contains over 4 billion pounds of copper, 500 million pounds of moly but it's still in its infancy. it's still
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it contained an inferred resous open in all directions from the amount of copper that's going to be required. we need big projects and we want to bring it to the world stage and demonstrate the size and scale. stuart: the rally lives. very strong this morning after a big day yesterday, dow is 720 points, 22%, nasdaq composite up 300 points, better than 3% gain. lauren: they are usually commercial surprises in october. stuart: better watch out for october. what about delta? >> the travel sector is gone,
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7% gain, raymond james says delta is going to $52 up 85% from yesterday in a stronger position in the fourth quarter. the analyst who said christmas airfare is up 43% from last year. a potential string or break trip of the family out of the question, so extensively to be one i wouldn't ever buy an airline stock. maybe i will think twice now. lauren: 52. stuart: what are they doing? under $100 a share, up today. hocus-pocus, what is that? lauren: it dropped on disney plus, the number one premier yet. for streaming, the box office, won the box office big time. stuart: domino's. lauren: another analyst saying those stories about peter
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demand, weakness demand is fine and the driver shortage, domino's up 3.5%. stuart: $18 for a plain cheese pizza. lauren: try putting a topping on it. i told you about my $35 pizza the other day. stuart: it resonated with the audience, $35. moving on, look who is here now. jonathan morris, our resident theologian who joins us now. do we have a responsibility to help the migrants in the country? >> clove the naked, feed the hungry, visit the prisoner, welcome the stranger, sounds like the bible to me. that said, i say no to 9 of 10 beggars in the street that are homeless because i don't believe it is helpful to them. i'm making a quick judgment, some i say yes and somebody
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coming from the border who is actually hungry has no chance to get a job, that's the 1/10 that i give the food and money to. stuart: that is what i said at an editorial on a personal basis, you see a migrant begging on the street corner, fresh on the board, i would give a small amount of money or sandwich and that is it. >> how about this? the left than says the right thing to do, the ethical thing to do, the moral thing to do is to allow illegal immigration. i say absolutely no to that. think about it. to say yes to illegal immigration is moral or ethical, absolutely not. it is bad for our country and it is bad for the immigrant. what we need to do is decide as politicians and as a country, what is the sustainable levels of legal immigration and allow that and make sure the border is safe and people coming over
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know that they are playing overnight as second-class citizens but somebody who has been driven, legal opportunity to make a better life. that is ethical and moral and republicans and democrats both can come to an agreement on that if they are brave. stuart: what we are doing now inviting, not inviting but having millions of people flooding is inhumane. >> it is a tacit invitation to say if you can get across the porous border and risk your lives doing it we will let you more or less live here. that is immoral and unethical and responsibly is a country to say no to that and not to suggest we are so pure and ethical and moral because we invite people to be illegal, that is wrong. of the one last one, only 30 seconds. would you let them work? the immigrants, the migrants?
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>> that's why we need to work visas was once they are here is a different situation because the country has allowed them to do this, we allowed them to do this. stuart: they are not going back. >> the solution is to come up with temporary work visas, a serious e-verify system that keeps everybody honest. lauren: we have that but it takes too long. stuart: eventually they will have to work. and the poor cannot get visas to get here. if you don't have a certain amount of money in your bank account that assures the us government will becoming back to your country they will not let you in. there's something wrong about it and we all know that. although that word is politically a bad word but shouldn't be. conference of has to be
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rational and brave. we say a conference of immigration reform and conservative politics, people say you are letting people in. stuart: we are going to get a lot of messages and emails, very contentious. thank you. on the same subject the number of illegal migrants labeled as national security risks, that is surging. come in. how many people are we talking about? ashley: a staggering 25,627 illegal migrants have been dubbed or labeled special-interest because of national security concerns. that is fiscal year 2022 up 600% in the last year. according to the department of homeland security a special interest migrant is someone who is into us citizen but travel in areas designated as national security concerns due to
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terrorist activity or other nefarious activity. the data shows most of the encounters were across the southern border with the highest number in el paso, texas. border patrol encountered 2 million migrants at the southern border between october 2021, and august, 78 individuals were on the terror watch list. and border patrol can't find derogatory information, those so-called special-interest illegal migrants, into the country. stuart: what could go wrong. in the border crisis. >> 250,000 unaccompanied migrant children at the border since president biden took office, any issue with that?
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for the dow of 1500 points in 36 hours, not bad. ford, sales in the third quarter up 16% from a year earlier, stock is up 60%, investors not looking at that, they are looking at the rise from one year ago, stock is up 6%. let's go to the border, griff jenkins is there. a large law-enforcement presence at the border. do you know what happened? >> reporter: details are coming in. this is a situation that is fluid. we are in eagle pass and uc border patrol truck passing through the shot of a bridge because in mexico it is 300 yards to the rio grande river beyond that but at the intersection where we are, texas dps diverting traffic, we
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have another camera inside this perimeter because we were advised 30 years ago, a farm orchard where the migrants come every single day, the camera was in there before don that national guardsmen has been shot. we don't know the circumstances of why but, we were down here. from governor abbott's office, the national guard is deployed under his command and we are waiting back to that, with the status of that guardsmen, we get more details but it is a fluid warning, 2 or 300 this news will bring more as we get it. stuart: on the border issue and
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migrant issue, mayor eric adams changed the location of migrant tent city, moving from orchard beach in the bronx to randall's island, this happened after aoc complained it was in her district. congresswoman nicole malley your talk us --malloiptakis joins me now. >> reporter: interesting she was complaining, the first one to say she support the sanctuary policy, open borders but when it is in her backyard she's against it. stuart: what is going on here? >> it's an unsustainable policy. we need to get the mayor on board for those calling on the president to secure the border once and for all, you had 4 million people cross since the president has taken office including those on the terrorist watch stand repeat offenders. it is it is an unsustainable policy the taxpayers of new york city and america are being forced to pay for, new york
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city alone, $1 billion. blue one putting them on cruise ships. calling for the border to be closed is not going to happen. it is simply not going to happen. >> i believe it can happen. if you take the house and senate you will have more leverage to push back on the administration. what you see taking place is happening under 1-party rule, when donald trump was in office he put in place policies that restored order at the border. seeing people coming in orderly, having their claims heard remain in mexico or on the other side until those court cases were heard, what you are seeing is 4 million people entering the country, many returning for their court cases and the mayor new york city saying the taxpayers of new york have to pay for housing, education, healthcare, and the support for those individuals. my parents are immigrants, no one ever paid for their housing when they came here. stuart: you have millions of them here.
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they are not going back, they are not going to go back. what should we do with them when they are here? there are vans picking up venezuelans in new york city and taking them to work on the cleanup in florida. do you approve of them working? >> i approve of them working once they are approved for asylum but you have people here working illegally that is wrong. stuart: 2 or 3 million people doing nothing. >> that's why court cases have to be heard quickly. and judges. >> not going to be heard quickly. >> why can't we get to a resolution where these cases are heard, many qualified for asylum. to make sure they are being heard. they proceeded into the country, and what they are supporting, and not
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compassionate for migrants being trafficked, those coming in for americans, forced to foot the bill for all of this. stuart: it is a contentious issue and we are glad to have you discussing it. thank you, congresswoman. thousands of military members who refuse to get the jab facing discharge, didn't the president declared pandemic over? we have that story. vice president harris facing a pushback over comments about how hurricane relief would be distributed. the white house is still trying to clarify her comments. brian kilmeade takes that on next. another busy day? of course - you're a cio in 2022. but you're ready. 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.
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i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. stuart: the market shows rally mode and brian kilmeade is with us. let's get to mayor adams, i want to go with another one. i am getting confused. >> i know what you are talking
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about. stuart: moving it to randall's island because aoc doesn't like it in the bronx. >> there is a fighter academy, soccer fields and rugby and 5 baseball fields so you have this isolated island and things of that nature. why are they moving? part of the reason is it is flooding in the bronx and after 3 straight days of rain the puddles became untenable. maybe that is true. another part of this is not in my backyard aoc whose district is there and getting married of complaints, go in there and create havoc in washington dc, give us a new green deal and make us proud, you don't want to be a sanctuary city, don't want to see it in front of them and mess up their neighborhoods. in control the borders, when borders come to the bronx, the people aoc represents want no
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part of it, is whining about it and miraculously they move. stuart: i know you will disagree with me but you've got 2 or 3 or 4 million people in this country the last couple years, they are going to work and if they don't work they are doing nothing and paying for it. >> i say this. if you worry about 2 to 3 million i understand it. it will go exponentially and 2 to 3 million, promising careers, we are going to adopt all of el salvador, nicaragua, the venezuelans can get out without being killed. if brazil flips and goes to this away from boston -- also narrow, they will empty out, and russian's influence turning into socialist including colombia. if you come here, blow up our
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system, thumb your nose at it and have productive careers and get your amnesty, there is no saying we have no control of our country so even though, if it turns out down the line is nothing but disaster for america. stuart: i am for that. you've got to do something. not going to send them back. 25,000 active military personnel facing discharge because they wouldn't get vaccinated. you are fired up about this. didn't the president say the pandemic is over? >> you are fired up about it too. i will say this. every one of our branches including the navy's below threshold on improvement and you are taking a bunch of military men and women, in the army two weeks ago these army members are applying for food
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stamps, that is how little they are making but they want to sacrifice for the country, this is the best opportunity and they are told get a vaccine. the vaccine, don't feel comfortable with that and they accelerate and the president says the pandemic is over and if you don't get that vaccine which is a shot, once every 7 years this is a shot and you want this, the president got two shots, two boosters, gets covid, fauci two shot, two boosters gets covid, the admiral i'm talking to, two shots, two boosters gets covid, these people in the prime of their life want to give to their country, 20,000 are given their walking papers and like the gentle and i talked to today, 18 years, saved countless lives in florida rescuing people out of the water after this killer storm and now they are told in two weeks goodbye. stuart: absolutely hopeless. >> make the change. stuart: look at the market,
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open your 401(k) and get a smile on your face. on october 17th, on october 17th we will hold a special program in the 11:00 clock hour of the show, live studio audience and it is free, register online, scan qr code on your screen right now and submit questions to varneyandyou@fox.com. senator smith, hilary fordwhich, throughout the west, gas prices surging, the worst spiking years. despite what president biden says this is all about supply and demand and green politics. he has been in the pocket of the greens, we are paying for it. ♪
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>> the market is balancing, the federal reserve will pivot, bond yields at a short high and market relative. the market got oversold, people got too negative and rally 5% off of the lows from friday. enough to hang our hats on. >> they are going to destroy the economy and that is the wrong thing to do. >> i would not put any stock
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