tv Maria Bartiromos Wall Street FOX Business October 8, 2022 10:30am-11:00am EDT
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ben: i'm looking at insight, the maker of lymphoma and biotech cancer drugs. the stock has done nothing for more than four years, just dead money but looks like it is starting to make progress. jack: check out barron.com and follow us on twitter,@barron online. see you next week on "barron's roundtable". y general or homeland security secretary, the case will decide the best course of action. elizabeth: high crimes and misdemeanors. the size of kansas trying to cross and ag garland accusations under his d.o.j. targeting parents speak out school board meetings as domestic terrorists and doing nothing about pro-
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abortion attacking churches and crisis centers, pregnancy centers targeting antiabortion activists. >> what you're outlining is the steps of house republicans and voters trust us to take the house back and be in the majority lancaster and each committee of jurisdiction will hold the administration accountable and build the record. my recommendation from a mayorkas clearly not getting his job and he inherited secure border and now 900,000 getaways, millions of pounds of fentanyl coming across the border and 3 million people in the country illegally, he needs to suggest, look for a new job. maria: what you make of democrats think voter backlash is the gop does this? >> we have the obligation to the american people to hold the biden administration accounta accountable. if we build the case will have the american people on our side
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but we have to take it step-by-step. maria: anything targeting biden? >> president biden, let's see what the case is. the trump impeachment mania was wrong done and wrongly handled so we need to do it the right way and the majority. maria: thank you for joining us and thank you for watching, have a good weekend. >> from fox studios new york city, this is maria bartiromo wall street. >> happy weekend to all, welcome to the program that analyzes the week that was in position you will be getting more than expected but not the full kenny and john are here with what melanie, that it. oil and gasoline prices spiking after the white house help to stop saudi arabia and opec and back oil with perry about this and house looking to venezuela for rescue. ties between the chinese
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government u.s. weapons nuclear research site. bryan gavin is here. we did get the jobs report, economy added 263,000 jobs last month higher-than-expected less than the month before. on up limit rate 3.5% after 57000 people drop out of the workforce. then dallas federal reserve reporting americans sing the biggest pickup of the president biden in 25 years because of inflation. slate stone chief strategist, kenny and john, thank you both for being here. your reaction to the job numbe numbers? >> i'm not necessarily surpris surprised, i thought it would come right in line and it did. unemployment was interesting 3.5% but doesn't change the narrative what the fed will do november. rates will go up and that's clear. the idea earlier the fed would
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put it was way overdone and we will see the market struggle into earnings season. maria: people talking about the fact that it was generating hundreds of thousands of jobs every month but the expectation is it slows down year end 2,100,000 a month what your take on the numbers and participation rate went down? >> i'm shocked by the participation rate, he would think with faster price inflation more would be forced to find a job to compensate for the loss of purchasing power. we can look at the range rose only by three tenths%. a huge gap between 5% wage growth and cpi inflation running at 8.3%, a reduction in the purchasing power of wage poorly for consumer spending going ahead. the fed funds rate is expected to finish 4.4% and that will be
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up by 4.25 percentage points since the start of 2022. without had so great of year-to-year increase by fed funds benchmark for variable loans since the end of 1981 and it coincided with one of the worst recessions in history of the united states. maria: is that what you expect in 2023x. >> i hope recession won't be that severe but you have to expect a decline by overall economy, horizon unemployment at 3.5 headed toward 6% and a great deal of pain and important implications going to 2024 election year. maria: , to go back to somethi something, the pay cut. americans are suffering the biggest pay cut in decades. this is a study by three economists the federal reserve think of dallas finding real
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wages have fallen the last year even though nominal wages are rising, prices are rising even faster and when you see inflation coming into whatever wage again, the biggest pay cut in 25 years. >> inflation running 8.3% but wages grow 5% so workers lose every month so not a surprise. everybody has been feeling it and you can hear that everywhere you go which is why we see upward pressure on wages but not catching up with inflation which will continue to be a problem for consumers. if inflation doesn't come down, they will feel the strain moving through 22 into 2023 which will be another difficult year. maria: unbelievable what we are seeing, a dozen eggs up 40%, copy of 17%. these are the things we buy everyday, not 8%, it's double digit.
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there's some expectation inflation is peaking. i don't see it. will follow by the producer index. >> unfortunately you will be proven correct. i doubt if inflation peaked especially with the latest return of rising energy price inflation and rising gasoline price inflation. thursday will get the september cpi headline number may ease 8.328.1% but the bad news will be for cpi, food and energy prices a picks up speed and rises around 6.2% to 6.4. maria: and your thoughts as far as the market reaction? >> that doesn't even include the rise in oil last week which will another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation
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welcome back, desperate for oil "wall street journal" reporting president biden looking to socialist dictator nicholas maduro after opec that by adding arabia and russia would cut oil production by 2 million barrels a day sending oil prices higher. the move seen as a flop in the face after president biden visited saudi arabia today, oil. former energy secretary former texas governor rick perry. critics argue we need to drill more at home but here's national security council john kirby on why it's not happening. >> we are trying to transition to clean energy environment good for the economy and the environment and where the president wants to take us but transitions are tests take time.
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maria: they do take time like ten or 20 years, should we kill off also fuels now? >> the hardest thing for someone in the political business to do is stand up and say you know what? who wrong in this administration will not do that. they will drive america into the ditch and they are economically and national security wise having to rely upon foreign countries for energy is bad public policy so they are wanting to this environmental altar where they pray everyday and hurting americans. they are listening to a missed cash the president stands up in
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florida and says the reason hurricane ian came was because the use of fossil fuel, nonsen nonsense. no data. the put america in jeopardy economically, national security on this pre-new deal craziness hurting americans so the needs sensibilities. calvary is on the way in november when elections occur and biden administration will get a powerful message policies don't work, you kill us economically and put america in jeopardy. maria: it is national security we know because of fossil fuel and oil companies ability to power the country and administration is telling bankers not to think fossil
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fuel. how dangerous is that small and mid-cap companies can't get money we need to ensure the projects to power america? >> it's a fascinating time when government tries to influence private sector businesses the way they are. government has always interfered with the taxation and regulation or litigation and all those impact the economy. one reason texas was successful in 2000 because we didn't overtax or regulate were over litigate. this administration is doing all of those obviously overtaxing, over regulating and allowing litigation that drives business to make decisions not in the best interest for stockholders or citizens of the country so
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everything they are doing, build back nothing administration, they are tearing down america with their policies. maria: i want your take on strategic oil reserve because we are at the lowest levels in 38 years talking about 450 million barrels and the petroleum reserves because the president is selling oil they will sell more and also selling it adversaries like china. tiny ramping up oil as levels are lower in the u.s. i thought it was for crisis situations. assess the numbers, about the lowest level since 1984. >> , 40 years lowest reserves we've had. it's a tragedy. here's the real problem not only
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is this president praying politics with petroleum reserves and driving it down, he will have to refill it with incredibly high-priced fuel, one hundred to 110 dollars a barrel. if there is another hurricane, a major natural disaster we could put people's lives in jeopardy because you don't have fuel reserves that are supposed to be there for those reasons so as to wrong in so many ways but a reflection the biden administration -- i think it's part of a plan, the green new deal forced upon americans and we don't care how much it hurts you are how painful. we will force you to move from fossil fuel and if it brings america to its knees so be it
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group of house republicans demanding biden administration investigate. reports of a chinese government link infiltration into new mexico's most almost laboratory. bryan saban is the ranking member of the space and aeronautics committee calling on the administration and he joins me now. thank you for being here. >> great to be with you. maria: tell me about this campaign, how long has this been going on. >> we think according to the report we have last month los alamos club report we call it for decades literally decades, they've had this program that recruits and incentivizes people working in laboratories, this one is los alamos in new mexico where the manhattan project, u.s. weapons and research going
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on and we find out 162 scientists who worked at los alamos over the years i think from 87 until 2021 many returned to china supporting the communist chinese party in various research development programs and imparted knowledge they obtained while working los alamos and imparted knowledge to the chinese. the chinese have a desire national strategy to replace america as the number one world superpower and well underway why we have to make sure the biden administration takes the chinese threat, clear and present danger and they need to be more serious about it. maria: but they are not.
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of the trump administration there was a string of indictments of people sending information back to the chinese communist party like the head of the industry at harvard and the embassy in houston they shut down because of the surveillance going on what the joe biden do? canceled the china initiative, they were investigating the surveillance and property theft, why did he cancel it? see compromise? why is he not reacting to this in a more serious way? >> that's the $64000 question. can help think about hundred biden the big guy in the evidence coming up showing could and probably do have a compromised president and administration because of past wheeling and dealing with the
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chinese communist party in the only them but the russians ukrainians, so much evidence there's hanky-panky going on so it's very concerning and we hear all the time canceling the programs, john kirby white house or nader for the national security council when asked about purchases of land close to airbases he says i can't get into a real estate question and brushed it away. maria: i saw the and you are right. former director of national intelligence told me the strategy is simple, rob, replicate and replace and whether it is a corporation or
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national security secrets, rob, rick a plate and replace. >> that's exactly what this is in the biden administration will not take it seriously or have no intention of taking is hearsay because what we talked about. where's the accountability? this is why we are concerned about the fbi and d.o.j. trying to get to the bottom of these allegations and china is going forth one 100% taking and utilizing our own scientists against us not only los alamos but american academia here in texas and i represent part of houston and recall vividly when the consulate was closed because the johnson space center we know
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there was lies taking the information we had at the space center and indignant and we saw they said there was nothing going on if they had burned barrels and video footage during papers and they are burning them and we know they are rednecks. maria: danger stuff. [ marcia ] my dental health was not good. i had periodontal disease, and i just didn't feel well. but then i found clearchoice. [ forde ] replacing marcia's teeth with dental implants at clearchoice was going to afford her that permanent solution. [ marcia ] clearchoice dental implants gave me the ability to take on the world. i feel so much better, and i think that that is the key.
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senate candidate blake masters and alaska senate candidate kelly, join us for exclusives sunday 10:00 a.m. live and start every weekday foxbusiness six to 9:00 a.m. mornings with maria on foxbusiness. that will do it for us this weekend, there, have a great rest of the weekend and i'll see you next time. ♪ >> hello, this week on the "wall street journal" at large, trouble for the economy as job growth slowed in september president joe biden to push of oil prices. cleanup in florida with the president and ron desantis in a rare show of
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