>> i think the fed is out of balance, and i think the fed needs to slow down and say, look, we're going to do 25 basis points, but i don't think they will. >> i would describe the fed as a petulant 2-year-old that's not going to stop until they break something. >> three-quarters of the voters believe that violent crime is a very important issue when iting comes to the midterm elections. and what's happening with crime is impacting even those beyond the cities. >> we should be providing them the full firepower they need to impose real costs on putin. and if we to that, it's the only possibility of convincing him to withdraw. europeans should have done more, the united states should have done more. >> the consequences could be grave and delaware sating for the world if putin decides to use his nukes, and he's threatened to use them. ♪

♪ stuart: i'm looking for the -- put it up on the screen, please, because i want to know what song, what tune this is. oh, freedom. >> i know the george michael version. stuart: okay. wasn't there a paul mccartney version? madison square garden? anyway, i digress, ladies and gentlemen. i'll move on. it is 11:00 eastern time, october the 10th. it is indigenous peoples day or columbus day, whichever you prefer. check the markets. oh, i see red ink. a 2-year low for the nasdaq at 10,500, and the dow's turned south as well, off about 100 points as with we speak. big tech tells the story. meta, actually up 21 cents. we've got am, apple, alphabet and microsoft -- look at microsoft, i'm dying here, it's down $5 at 228.

selloff in big tech. now this. new york is in a state of shock. gunfire near the home of gubernatorial candidate lee zeldin. migrants on a staten island begging for food and clothing. crime and the border, national issues both playing out in new york. this state and this city are a microcosm of what ails the whole country. yesterday afternoon in broad daylight two teenagers were shot outside lee zeldin's home. he is the republican candidate for governor. he and his wife were away from home. his two daughters were doing homework at the kitchen table. they heard shots and screams, ran upstairs to a bathroom and called for help. if it can happen on long island, it can happen anywhere. and you can't cover it up either. everybody's got a camera these days. this morning "the new york post" reports that some of the migrants bussed from the border

are walking around neighborhoods asking for help. it's fall, it's cold here. these folks are dressed for the desert, and they're hungry. the mayor, eric adams, has declared a state of emergency, but he hasn't asked the president to do his job and secure the border. three questions to ask democrats this november. number one, are you safer now than you were two years ago? number two, is the border more secure now than it was the two years ago? and number three, with inflation, recession and the market selloff, are you better off now than you were two years ago? four weeks til the elections, and the third hour of "varney" starts right now. ♪ ♪ stuart: all right. who's with me this morning? i'll tell ya, the host of "making money," charles partnership, the man himself. -- charles payne. welcome to the program. >> thank you very much, great to be here. stuart okay. huge problems, crime and the

border. how are the democrats going to spin out of this one? >> i looked at a washington post headline today talking about millennial voters, they will be shaped by gun violence and climate change. again z voters on -- gen-z voters. they're not going to combat it by really combating it. instead of ever blaming the real psychology, the economic dissonance that goes into all of this, they keep blaming the inanimate object, gunnings. wow, if it wasn't for all of these guns. the other part, a large part of what's happening with the border they keep blaming on climate. these are really, in my mind, really despicable. and let me tell you, the part that really is bothersome with everything adams and all these -- eric adams and all these folks complaining, i counted 11 sanctuary states, 181 cities and counties. here's the thing, for years they belittled border states, texas,

arizona, florida, how cruel you are, you know? but by the same token, they had this red sign telling everyone in the world, come in, come in, we're sanctuary, come to this great country. and, of course, they always talked about the statue of liberty, give me your tired, your poor, your huddled masses yearning to breathe free. you've got 'em. here is the problem, were they always bs-ing the world? i think they were. one of these cities, jackson, mississippi, is a sanctuary city. it doesn't have clean water for the residents. portland, gop, has more sanctuary counties than any other state, guess what? their fentanyl overdoses last year rocketed. they were at 41% versus just 16% for the rest of the country. they can't keep people from overdosing in their country, and they got more sanctuary counties than anywhere else. do they mean go to texas? go to arizona in go to florida. and if they give you a hard time, we'll shame them.

is that what they really mean. stuart: fair question. i read your stuff, and i read you think that the fed has become the biggest threat. so you pounded the table on pollices, are you going to pound the table the on the fed? >> i've been pointing the table on the fed for a long time and, ironically, a lot of people are coming to the same belief. forget about 1970s, this fed may make the mistake of the 1930s. ft, financial times, of all publications, they just had an article this morning as well, and the national association of economists, they had their big gathering today. the number one risk for them, 55%, said the fed going too far. there's a belief that this federal verve is going to go way too far. stuart: you believe that. >> absolutely. well, i hope they don't, but that's my number one concern. stuart: are we heading for a nasty recession? >> oh, absolutely. parts of the country are already in it. i always say recession is local, right in the idea that 8 people

are going to time stamp and tell us there are recession, there are people that tell you we've been in one all year long. stuart: charles, the proper name of the show is "making money with charles payne." >> although i want with it to be making -- doing our best to make money with charles payne. [laughter] stuart: charles, we'll be watching. thank you very much, indeed. >> you got it. stuart: right to charles, we have jason katz, another market watcher of the morning. a big hitter, by the way, folks. you write about t.i.n.a., there is no alternative. now you're saying it's t.a.r.a., there are reasonable they weres to stockings. is that your -- alternatives to stocks. is that your line this morning? >> that's right. there are reasonable alternatives, and you've talked about this on set with me and countless others. a 60-40 portfolio got off to a

miserable start this year. arguably the worst on record. now, with fresh money already alternatives whether it be your cash alternatives or whether it be a simple laddered portfolio. a 10-year ladders municipal bond portfolio for the highest tax earner in new york is north of 5%, nearly 5.5%. a 10-year corporate ladder north of 5 some odd percent. and that's not even including the kiss count you can get -- discount you can get on some of those bonds. i'm suggesting you could finally have a ball last in your portfolio. stuart: it's so different from the last 1 years, isn't -- 12 years, isn't it? t.i.n.a. survived over a decade. that's ooh fundamentally changed. bonds now have a good reputation. >> well, not if you bought them in the beginning of the year. you're down double digits. but from a new money perspectiv- stuart: yeah, that's what i'm talking about. your 3 or 6-month treasury bill

will get you 4%. not bad. >> that's right. and, look, it's not just from the standpoint of investment choice. highester interest -- high higher interest rates affect how you value stocks, so that's why we're likely to be in a muted return environment in the decade ahead. stuart: is there any way to avoid what looks like a nasty recession coming down the pike right at us? >> you know, you know, charles was very emphatic about it. i probably won't pound the table as emphatically as he can, he's a larger man than i am -- stuart: he almost broke the set. >> for crying out loud. we're in a bizarre world. we're all rooting for bad news. i just -- watch what you wish for here: the best thing the fed can do is listen to critics like charles, you know, like professor siegel and others. it's if fed who cried wolf. they said transitory, no one believed them. then at jackson hole they pivoted and talk about higher for longer, and then they lost credibility, and we didn't

believe them. the wolf is coming to ravage the village right now so, hopefully, hopefully, they can take a pause. get to 4.5% but perhaps slow your with cadence. that's the only -- slow your cadence. that's the only way we can have a landing that resembles soft. stuart: long way away from that -- >> the irony though is they keep saying that's the mistake they don't want to do is pause, right? and that's the battle of the late 1970s. even volcker himself paused for a moment. and that's why everyone is say, hey, you know what? maybe start looking at 1930. because this notion that you're going to be to beinger-esque and no matter what the numbers say, it's a legitimate fear. stuart: tough start for your monday morning for invest if possessor, isn't it? >> it is, indeed. stuart: let's get to lauren with the movers, and i see wynn resorts -- lauren: oh, look at that. too stuart i know what's wrong,

that's china locking down because of some covid which would really hurt macao. lauren: that is absolutely the story is, why wynn resort is the worst performer. and i ask add to that, citigroup cut its estimates on macau -- stuart: what is with china and this zero covid policy? lauren: i know. i wonder after the weekend if they start to loosen up a little bit. maybe they just immediate to get to that and then they can loosing up and meet the world where the world is because this is hitting their economy. stuart: it sure is. rivian, they're down sharply now. lauren: they've recalled nearly all of their vehicles, let's say 13,000. at issue is a steering fastener. the rivian could essentially lose control. they're not saying don't drive it, but this is definitely a pr problem, a recall for this many vehicles. stuart: okay. i see carnival is on the list. i'm not particularly interested

in this -- no, or wait a minute. [laughter] i don't know why it's down so sharply, but i know you're going to tell us about them fining unruly customers. lauren: i just always like to give you a cruise line story. it's down 6.6%. that's pretty massive. stuart: that's got nothing to do with fining -- lauren: we've covered all of them, all those fights on all of their ships. every single one of them. and now they changed their code of conduct, so they're going if to fine you $500 for unruly behavior and make you cover the cost of the damage, in some cases kick you off -- stuart: that's not why the stock is down. lauren: no. stuart: that's the only point i was trying to make. lauren: but i got the news out there. [laughter] stuart: now this, dwayne "the rock" johnson has made up his mind about running for president. we have his decision for you. anti-government protests rage on for a fourth straight week in iran after a woman was killed in police custody for allegeddedly violating the country's dress code. this is a feminist moment, so

why aren't wear hearing more about it in the mainstream media? paypal backtracking on a policy that would have fined users $2500 for spreading misinformation. we have paypal's excuse next. ♪ -- wish you would step out from that ledge, my friend duck duck you could cut ties with the lies that you've been living in. ♪ and if you do not want to see me again -- ♪ i would understand ♪ [coughing] hi, susan. honey. yeah. i respect that. but that cough looks pretty bad. try this robitussin honey.

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stuart: well, well, adobe has just released their holiday on online sales forecast.

ashley, how much did they say we would be spending? ashley: a lot. and that's an understatement, apparently. adobe expects u.s. online holiday sales to hit $20 the 9.. that is a 2.5% growth over last year. consumers are expected to spend earlier this year as a second prime day beginning tomorrow kicks off before the holiday season begins. by the way, the first prime day event in july generated a record $73.7 billion. remarkable. spending on black friday, by the way, forecast to grow by just 1% year-over-year at $9 billion, but cyber monday expected to remain the year's biggest online shopping day with spending up about 5% with a record $11.2 billion in end spending. adobe, however, does acknowledge that the holiday season will have a cloud of economic uncertainty hanging over it this year as shoppers contend, obvious, with elevated prices for food, gas and housing, plus

the rising cost of borrowing. but based on those predictions, still at lot of money being spent, stu. stuart: got it. hanks, ashley. now this: paypal backtracking on a policy that would have fined users for posting misinformation. why did they backtrack? lauren: well, it appears because of the backlash they received. they say this: an acceptable use policy, aup, recently went out in error that included incorrect information. and then they say we are not fining people as much as $2500 debitedded directly the from your paypal account per offense for misinformation. are you kidding me? it was a so-called error sparking an uproar. yeah, the former paypal president, david marcus, calling it insanity. he said this, a private company now gets to decide to take your money if you say something that they disagree with. insanity. paypal had canceled three

accounts linked to toby young. who is he? he runs the free speech nonprofit organization that defended the comedian, russell brand who had to move hid show from youtube to rumble because of censorship. elon musk a came out and criticized paypal, so did others. and if part of the argument is, well, this bolsters the need for cryptocurrencies in the end. either way, i'm glad they backtracked, but having a policy or even thinking about doing something like that even if it was an error is mind-boggling. stuart: yes, it is. extraordinary sufficient. that's censorship. fining users for having an opinion which they can disagree with. you kidding me? get out of here. let's bring in vivek ramaswamy who knows a thing or two about kind of thing. what's going on at paypal? >> look this, in my opinion, was not an error, it was a mistake. and there's a difference between the two. you can look back as recently as 2019. paypal was actually traching instruction from the southern

poverty law center in defining which groups counted as hate speech, as perpetuating hate speech and -- access to their platform. the misinformation police in this country are first coming after your social media accounts to prevent you from being able to share your opinions, but now we're going the next is step to your financial accounts, stopping you from being able to transabout and be a member of the modern economy. this is a deeply concerning and chilling problem whether you're a democratic or republican. it doesn't matter. we should not want a class of corporate autocrats deciding who can and cannot express views in our marketplace of ideas. that's what we're seeing. stuart: now, we've been following your activity in your -- you've got this company, strive. you're fighting woke politics in business. we've been following what you're doing, and we very much support it. now you got something where you're going after china. explain this one, please. >> sure. so we unveiled our latest etf, our u.s. semiconductor index

fund, the ticker is shoc, and it is preparing for the shock to the global financial system when china annexes taiwan. and this is an important month to be talking about it, stuart, because this is the month that xi jinping takes an unprecedented third term as leader of china, breaking the chain of succession, becoming the longest serving leader of china since mao tse-tung. and i think that starts the clock on when he's going to make that move on tie what. he's going to do it, i think, in the coming years ahead. and it will disrupt the global semiconductor supply chain which starts in taiwan with tsmc and other resources in taiwan that china views as a strategic asset. when that happens, i think there's a big, big shock that's underappreciated, stuart, where we will lack access to high-end semiconductors that power phones, computers, even power refrigerators. i think it undergirds our modern way of life, and the sad part is

i think the investing public is undereducated on this because financial institutions are afraid to talk about it because of their ties to china. that's what's going on. stuart: got it. one more for you. as the protests in iran enter the fourth week, do you think there's enough media coverage here in america? it seems like a real shift, a real change over there. >> look, i think that this is one of the biggest developments in iran since the last revolution, since the overthrow of the shah. this is a big deal. i have been a little bit surprised to see it undercovered by the mainstream media, and i think what's going on here is normally a story like this, a pro-femme mist if media complex would be all over the story. but it conflicts with another rule in the progressive hierarchy which is that you can't be islamophobic. every time you see a story be it in afghanistan about girls not being able to go to school or be it this story in iran, on one hand they're supposed to stand

up for women's rights, on the other hand, they're not supposed to be islamophobic, so they shrug hair stories and move on to another story which i think is a travesty. the laws of intersectionality have tied themselves in a knot here, and meanwhile we'll criticize toxic masculinity amongst innocent american pois, yet when there's -- boys, yet places like iran we're afraid to say something about it out loud for fear of being alleged islam fobbic. it's a little bit puzzling but in some ways not. stuart: the laws of intersectionality. got it. vivek ramaswamy, you put it very well. see you again soon. thanks. >> thank you. stuart: duane the rock johnson has made up his mind on running for the presidency. ashley, what's the big decision? ashley: well, he says it's off the table, he's got a more important job to to focus on, being a father. johnson holds many titles, as we

know, but president of the united states will not be one of them. the highest paid actor in hollywood told cbs this morning said politics will always take a backseat to being a parent. listen to this. >> is running for president off the table now? >> it's off the table, yes. [laughter] it is off the table. i will say this, because it requires the b side to this. i love our country and everyone in it. i also love being a daddy. and that's the most important thing to me, is being a tad key. number one -- daddy. especially during this time, this critical time in my daughters' lives. sure, ceo sounds great, but the number one thing i want to be is daddy. that's it. ashley: he made it very clear. you know, "the rock" has flirted, of course, with political aspirations. he told ellen degeneres back in 017 that he was seriously considering running for president. and by the way, last year one poll found 46% of americans would likely support his presidential run.

but for now, he's going to be a dad. good for him. stuart: got it. thanks, ash. now this, workers are seeing the most severe pay cut in 25 years. that's under president biden. that's what inflation does. edward lawrence has the story from the white house. a top economist blaming the fed for sparking a recession. watch this. >> i peer that -- i fear that we risk a very high probability of a damaging recession that was totally avoidable. stuart: so is the damaging recession coming? i will ask robert herz vick. he's next. ♪ ♪ more than a feeling to hear that old song play ♪

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showed off their jet packs. that was impressive, i thought. back to the markets, please. susan's looking at the movers. what's it, consumer staples? susan: yeah. robert, this is where he starts furrowing his brow like he does now. what does consumer staples mean? it's a countertrade that goldman sachs is offering. crarts hines is worth about $43. they're downgrading proctor and gamble, so you buy kraft hinds, you sell procter & gamble. all that's been priced in, and goldman says these currency headwinds will help kraft and food, hurt consumer goods and procter & gamble. stuart: kraft hinds is up. john kerry will be pleased. [laughter] susan: well, ketchup also ini elastic demand, as you know. stuart: let's move on to netflix. i know something about netflix. i do have it, and it's up $3. what's the story?

susan: jpmorgan today is calling netflix one of the probably best performers next year if you have that ad-supported tier which they say will drive $670 million advertising sales next year alone and 7.5 million new sub subscribers. also amc, i would say it's probably more of a valuation call since amc's down 70% this year, so it might look cheap to some. they are going to be showing the first netflix movie for the first time before it hits the streamer with eyes on a sequel. stuart: i could see how that netflix channel with ads would work very well, because ads don't bother me. it is cheaper -- susan: i wonder how much cheaper hoe? stuart: quickly check boeing, why is it up? >> 737 max makes its first commercial flight in years in china. boeing higher along with lockheed and raytheon.

stuart: i understood the whole thing, consumer staples included. supersusan a+right there. stuart: the chief economic adviser to allianz, mohamed el-erian, is blaming the fed for sparking recession. no two ways about it. watch this. >> we are currently on what i think of as a bumpy journey to a better destination. there is a possibility that the federal reserve makes another mistake and that that bumpy journey actually changes the destination. that is the cost of the federal reserve being late. not only does it have to overcome inflation, but it has to restore its credible. so, yes, i fear that we risk a very high probability of a damaging recession that was totally avoid is bl. stuart: robert herjavec joins me now, a man you may know from "shark tank" and other successes. he's sitting next to me in new york city. are we going into a nasty recession? >> i don't know if we're going

into a nasty recession. it's funny, i saw the video, i couldn't agree with it more. that's exactly what i think. i think that i worry more about the fed and this maniacal drive with interest rates than i do with the actual interest rates. stuart: ma knew -- maniacal, that is a very strong word. >> it is. is there any reason why we need to get up 75 basis points in the last -- stuart: they've got to demonstrate their credibility. >> no, i know. and i do think that the inflation rate was starting to stabilize a little bit on its own. i'm not undermining the effect of inflation. there's certainly people out there that are hurting. bread is up, basic staples and consumer goods are up, but i don't think we need to raise interest rates at the level we're at. so i worry about that because the economy's strong. people are spending. -- spending. but i worry we're going to hit a wall, and the interest rates are going to catch up to us, and the whole thing is just going to stop. stuart: that would be a sudden, sharp falling off the cliff.

>> well, i think there's a tailwind. i think that consumers continue to spend. capital goods are going up. my customers' enterprises are still spending, but inevitably, rates have to catch up to it. stuart: not a particularly pleasant outlook, i must say, at the particular point. >> no, and i'm a very happy guy. stuart: i can tell. you've got a smile on your face. i want to talk to you about meta. meta platforms. they've warned that facebook, a million facebook users, their login info may have been compromised. you work in cyber security. is it your opinion that hackers are getting more destructive in their attacks? >> wow, great question. that's exactly what we think. we actually think that we've reached a new level of hactivism or cyber attacks where the attackers don't just want to damage you, but they want to damage you permanently. so as a small example, just two weeks ago our threat researchers

found a bran new kind of ransomware. it got picked up all over the world. it's called exe-matter. typically when people hack you and want to ransom, they don't destroy your data. if you pay them, they give it back to you. what our researchers found is they actually destroy your data. so they take all your data, they put it in an envelope, if you will, or a container. and if you don't pay, they destroy 3% of it. and the more you pay, the more of it you get back. and we think this is a fundamental shift in ransomware. and, by the way, ransomware is still, by far, the biggest cyber threat to most companies. stuart: what can you do about this enhanced cyber hacking? has your company got an answer? >> we do have an answer, lots of companies have an answer. it's a series of things you need to do. there is no one conclusion you can do. you can't buy a product. we're big believers in services. you know, today the average

enterprise has 80 products to keep them safe. how does somebody keep up with that? so we're seeing this shift away from product to services. but the problem is still the human being, the users. i always tell people you're not that sexy, there isn't a woman in russia that wants to meet you, and you didn't win a lottery you didn't enter. stop clicking on things. [laughter] stuart: i have that stuff come at me too. robert herjavec, thanks for joining us. >> thank you for having me. stuart: yes, sir. now this, seven more buses full of migrants just arrived many new york city this morning. these people need homes, food and money. should we let them work? we'll get into that. my next guest has been running a restaurant in montana for 35 years. he says he's never had so much trouble hiring and keeping workers. he's pushed to the brink. how much longer can he hold on? he will join us after this.

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stuart: under president biden workers are seeing most severe pay cut cuts in 25 years. edward laurent at the white house. explain this one, edward, please. >> reporter: yeah, it was the dallas principal reserve researchers that found out we've seen the sharpest decline in wages over the past 25 years. simply put, when the researchers added in inflation, americans actually got a pay cut of about 8.5% under president joe biden for the past year or so. now, if you listen to the president, you'd believe the economy is doing exactly what it should be doing. listen. >> the pace of job growth is

cooling while still powering our recovery forward. wage growth for workers remains solid, down from the historic high pace months ago, but still growing for workers who deserve a raise. and this is the progress we need to see. in the short term, the transition to a more stable growth that continues to deliver for workers and families will bring inflation down. >> reporter: yeah, but when you look at the data the, the president's giving half the story. right now cpi inflation sits overall at 8.3%, but core inflation without food and energy costs is doubling its rate of increase from july to august. in the last jobs report, the average hourly wages increased 5% year-over-year, down from 5.2% in august. so you have core inflation on an upward trend and wages on a downward increase. republicans say democratic policies aren't working. >> the biden administration wants to keep their head in the sand as to what americans are feeling every day. it is more and more difficult to

afford the things that your family needs. we need to put a check on the biden administration, the runaway spending, the energy policies are trying to make us dependent on foreign sources rather than domestic production. >> reporter: and there's been no pivot in policies from president so far, stu. stuart: so far, no. got it. edward, thanks very much. has the -- our next guest runs the iron horse restaurant. it's in missoula, montana, and he's done it for 35 years. he says right now is the hardest it's ever been just to stay afloat. todd engel joins us now. of todd, what's your biggest problem? staffing or inflation? >> oh, you know, it's a combination. it's really rough right now. day-to-day we are short, you know, multiple people, and i have to work three different jobs daily. that on top of gas prices and food prices and just having to

pay employees more just to stay around. stuart: so what's going on? what's going on in montana? how come you can't get the workers? is it students who don't want to do part-time waiter, be a part-time waiter? are people left to get better paying jobs in manufacturing or drilling or forestry or something? what's going on? >> i think we're kind of in that perfect storm of, you know, after the -- you know, we've had the pandemic, and the college kids want to go the school and not work. we have the restaurant industry just having a really hard time at moment. we, you know, we also have an influx, as we like to call 'em, the tourists moving here, all the people from california are invading montana and ruining our way of life, basically. i mean, they're coming in and they're working from home.

they are, have enough money to not have to do the local jobs that we need done, and the housing is so high at this point that the people that work these normal jobs can't afford the housing. stuart: you've got a real problem there, obviously. can i just ask you a completely different question? do you serve prime rib in your question? >> no, we don't serve prime rip rip are rib. stuart: steak? >> we have steak, we have san witch that everybody comes from all over to have, a tepper loin -- tenderloin sandwich that people love. stuart: how much is your tenderloin sandwich. >> tenderloin san witch, i believe it's $18. stuart: $18 now? what was it two years ago? >> it was $16. stuart: not -- okay. you've gone up a little bit, not much. well, look, todd, thanks very much for being with us. we hope you can stay in business and survive this thing, because

it's getting kind of nasty out there. come back and tell us how you're doing soon, okay? >> thank you very much, sir. stuart: you got it. thank you. i've got some extraordinary video to show you. here it is. that's a camel at an in-n-out drive through in vegas. the cam el's driver said, hey, the camel's hungry, and it loves french fries. now you know. different, isn't it? [laughter] that's vegas. show me the dow to. -- dow 30. let's get a sense of market, please. split. about -- i can't work it out, but you've got about half and half roughly speaking, half up, half down. with the losers, they're winning this day so far. the financial times, british operation, just ranked miami as the best city for foreign businesses. last year miami had more foreign direct investment per capita than anywhere else in the country. the mayor of miami, francis suarez, joins us shortly. he calls it the miami movement.

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♪ stuart: florida's governor, ron desantis, says he will send a flight of nonviability criminals to nantucket -- nonviolent criminals. how about that? in new york migrants are going door to door asking for food and clothing from residents. i want to bring miami's mayor with, francis suarez, who joins us now. your honor, migrants will help with the cleanup for hurricane ian. what do you think about migrants working? are you in favor of it? >> well, of course. anybody who's willing to help many a crisis -- in a crisis is someone that we should welcome. obviously, we're also a country of laws and the rule of law, and so we should also expect whomever's here to be someone who follows the law. so, you know, it's, it's an issue where obviously in areas that are destroyed by hurricanes like the gulf coast is, they need as much help as possible.

stuart: yeah. i mean, what's wrong with putting folks to work or asking them to work when there's a shortage of workers, absolute destruction in parts of florida and nobody local really who can handle the work? i just don't see anything wrong with employing large numbers of illegals. i mean, is this a problem? >> you know, we've talked about before, stuart, and and one of the things that a we say in miami, for example, we have 1.4% unemployment, and that's great until you want to open a small business and you can't find employees. so we definitely have to have a more coherent and comprehensive conversation. you and i have talked about this before, about migration with, about immigration and legal immigration because, you know, the thing about migration is it's illegal because we say it's illegal, and it's legal if we say it's legal. [laughter] so, or you know, i think we have to have a better conversation about it that serves our economic interests as a country and our national security

interests as well. stuart: got it. now, the financial times in britain, british newspaper, it says that miami is the best city for foreign businesses. okay, what are you doing differently in miamisome -- miami? >> well, i know, first of all, that the statistic doesn't surprise you having had me on your show many times. what we're doing is, number one, we're sort of graduating from being the sort of capital of latin america to a truly global city. we're a city that's at the sewer section of five mega-markets, new york, south america, the middle east and europe, and we're capitalizing on that. we're also a city that values its residents like a ceo should value its shareholders. we've lowered taxes to the lowest level in recorded history. we're on the precipice of having the lowest homicide rate per capita in history, and we're number one in wage growth. so we're creating a dynamic city that is accepting the disruptive environment that we're in. today i had a typical day, i had

a zoom with can kkr, had a meeting with millenium. they're setting up a 100,000 square foot office with over 300 employees that are technology engineers coming to miami. so that's, like, a normal day for me. and we've moved in the last 30 months approximately 2.5 trillion of assets under managed companies, we've grown our venture capital pipeline by over 400% last year, and this year we're beyond that level. and we're number one in tech job growth. we have made the most dynamic city in the country and, arguably, in the world. stuart: and we have given you a showcase for your city the several times mt. past -- in the past two and a half or three years. [laughter] i like that. >> and i'm eternally grateful, stuart. i'm eternally grateful. stuart: your honor, at some point i'm going to get you to new york. i look forward to that -- >> anytime you want, my friend. stuart: see you later, sir. thank you very much.

it's trivia time, here we go. this is a good one. when did michael anging low finish painting the sistine chapel? yes, as usual, the answer after this. ♪ ♪ 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: the producers choose such good questions. look at this one. when did michelangelo finish painting the sistine chapel? why don't you go first, ashe.

>> these are like times, hours, 20 past 3:00. number two. stuart: i would say 1520. what is the answer? the answer is 1512. took him eight years. you're not supposed to take pictures in there but everybody does. time's up for me, jackie deangelis in for neil today. jackie: thank you, stuart, i'm jackie deangelis in for neil cavuto. we have a big show coming up. forbes media steve forbes is here. he will join me with his thoughts on the fed's next move. plus deadly explosions rock major cities across ukraine. general jack keane is here weighing in on putin's latest escalation with the most