tv Varney Company FOX Business October 12, 2022 10:00am-11:00am EDT
10:00 am
10:01 am
the 10 year treasury yield is on the rise, we are at 3.94%, close to 4%. as for bitcoin, first time, not quoted bitcoin in the first hour of the show 19,100 thousand points. now this. why would you want to stop a student from being a part-time driver with uber? income on the side, choose your own hours, drive your own car, what is wrong with that? nothing i can see but the president is having none of it. he's tightening the rules on independent contractors, gig workers to use the modern word, could be barbers construction workers, homecare workers, there are 20 million of them. they will be reclassified as employees and that means they will be able to unionize. that is what this is about. biden is the union president, like living in a time warp, so
10:02 am
yesterday, geriatric elite can't keep up with new flexible convenient working arrangements. they bring down the union hammer and disrupt a host of new businesses. this started in california of all places, the state famous for its innovation was the first to go backwards, two years ago they disrupted uber which ironically is headquartered in san francisco. think of the politics of this. biden needs union votes, governor newsom depends on union votes so they bring in the fair labor standards act to beat up a vibrant sector of the labor market. trump opened up the gig economy, biden is trying to close it down. second hour of varney just getting started. ♪ stuart: i've got a headline, democrats be work on a red wave
10:03 am
is coming because voters know they are not better off since biden took office him you know who wrote that, lose peak route that and she's here. how do you know a red wave is coming? >> i could talk about a lot of data points including a new gallup poll that shows when voters are asked what issue concerns you most and what party handles it best, republicans won by 11 points which is the biggest advantage they've seen since 1946. i think that is compelling. more than that a lot of races are trending in the senate towards the republican candidate, the generic ballot started to come back but at the end of the day it is about president biden, his approval rating stranded up during the summer because gasoline prices went down, and if you look at a
10:04 am
survey of one thousand americans what is amazing to me is every category of americans now is underwater in terms of approval ratings, black, white, rich, poor, old, younger, doesn't matter what category, only northeast voters and urban voters have positive views of this president. we've seen democrat candidates running away from campaigning with president biden, real albatross around the neck of candidates running for office. it is common sense, voters are not better off than they were, can't get a mortgage, struggling to pay their bills. it goes on and on, crime in your neighborhood is worse, what is it that would cause you to vote for people in office? stuart: you are a fierce critic. >> you say that but it is justifiable and a rational critique. stuart: can you tell me one thing president biden has done right?
10:05 am
>> let's talk about foreign relations. he was supposed to be the person with big foreign-policy jobs, where are our relations better in the world than they were four years ago. china, russia, saudi arabia, the middle east, even europe is fed up with this president. let's talk about the recent thing about suing opec or being mad that opec wouldn't cause its production cut for a month until after the election and nothing to do with the election, just more time for the economy to slow down and see what impact that had on oil prices. stuart: one thing. tell me. >> i can't. sorry. complete washout. stuart: see if you can think of something. congresswoman tulsi gabbard joined joe rogan's podcast
10:06 am
hours after announcing she was even the democrat party, did she say she was losing friends? >> it happened over and over again. load -- those hosts allow democrats to come on and express themselves. another point of view but the mainstream media is intolerant and unforgiving. >> if you are a democrat and decide to go on tucker carlson, what is that like? >> it ranges from people giving you a cynical look like whose side are you really onto people just out right ending that friendship or that professional relationship because they don't want anything to do with you. >> did you a are serious that? >> over and over. >> gary to be a democrat on fox
10:07 am
news. the torrent of criticism. >> gabbard said the establishment narrative, any opposing viewpoint as dangerous for democracy. they just squash it instead of listening to the other side make their case. a blue one great lady, steppingstone. >> where does she end of? independent? republican? stuart: do we have an answer? >> not like she could go to hawaii which is a very liberal state. stuart: we will leave that unanswered. to the markets, not that much price movement, 72 up for the dow, nasdaq down 11. mark avalon joins us this morning. have we hit the market low? >> getting closer every day, that's a cause for long-term optimism. i agree with you. the inflation number was strong
10:08 am
but the market didn't collapse. that is a positive sign. entering the market is reassuring and some level. stuart: what happens if tomorrow the consumer price index is shown to be running hot. >> reporter: these 1-time data number games, not looking forward to a high number. we had a negative to neutral number, if we get strong, low inflation numbers, i think that is when the market will take off. maybe not the first time but when we see the trend change it will motivate the fed to back off not only on tone but policy, that is what stock investors do. stuart: we are not there yet.
10:09 am
>> we are not. a couple things concern me. even though the trend is down energy is up. we heard that mentioned earlier a few minutes ago. she coming up is not a good one. how much can we take from the strategic petroleum reserve to manipulate price? energy is on its way up, you have inflation still going up, also talked about unionization for uber. more unionization is going up. a few trends need to shake out but overall inflation is on the move. stuart: we will take that. we have significant movers including mud dharna. 10% off. lauren: they exercised an option to joint and sell a cancer vaccine, working with merrick and it would treat skin
10:10 am
cancer specifically. stuart: not usually dangerous. lauren: the fda authorized, krohn tailored booster shot and mud dharna for kids as young as 5. stuart: how many will be given -- lauren: you should get the latest. toll brothers, homebuilders all of them down. lauren: will we got the rate, 6.81%, buyers are driven, the applications are down, 40% and builders are suffering. stuart: what is this about elon musk being a perfume salesman? lauren: he needs money. the grossest imaginable.
10:11 am
they don't curl your hair. you smell it for days even. it is one hundred dollars a bottle. he sold 10,000 bottles, that is $1 million. stuart: it smells like the essence of repugnant desire. lauren: can't wait to buy a bottle, it is a novelty item. he has done this in the past. blue christmas present. lauren: i might buy that for somebody. stuart: $100 a bottle, the wharton school at the university of pennsylvania adding woke investing majors. lauren: this is the -- they are adding officially a diversity and inclusion and esg to undergrad and grad schools, they already offer these classes but you get concentration. what does it mean?
10:12 am
it is ingrained in the fabric of the university but if these are future business leaders into companies and organizations. stuart: a woke corporation. lauren: i wonder if donald trump or warren buffett or elon musk have anything to say. stuart: we should ask. the view's and on navarro comes to vice president harris's defense after coming under scrutiny from republicans. >> which republicans are laser focused on his building the narrative that kamala harris is a bubbling idiot, she's not. she is a brilliant woman who has broken glass ceilings and has great achievement. we went got around of applause for that and we will discuss it later. president biden says he never begged saudi arabia for oil despite report saying otherwise so what was he doing there? we have an answer.
10:13 am
president zelenskyy asked the us and allies for greater air defense support as russian missiles rain down as fears grow about food net nuclear threats, lucas tomlinson has the full story next. ♪ at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect.
10:14 am
10:15 am
10:16 am
to the best kept secre wire. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $30 per line. there are millions of happy campers out there. and this is the perfect time to join them... add a line to your existing plan, or see for yourself how easy it is to save by talking to our helpful switch squad at your local xfinity store today.
10:17 am
10:18 am
>> reporter: president biden spoke to reporters on the south longer president biden vowed to, quote, we will take action against saudi arabia after cutting oil by 2 million barrels a day. the war in ukraine, president biden was asked by jake tapper if he is worried about a low yield nuclear strike on ukraine. here's president biden's answer. >> how realistic is that putin would use a tactical nuclear weapon? >> president biden: i think he will, it is irresponsible of him to talk about it. the idea of the world leader, one of the largest nuclear powers in the world says he might use a tactical nuclear weapon on ukraine, just a horrible outcome. >> reporter: president biden does not think russia will launch a low yield tactical nuke. in brussels at nato headquarters president biden's defense secretary said the white house spent nearly $17 billion in weaponry to ukraine since the beginning of the invasion late february. after a russian missile barrage
10:19 am
across ukraine and one called payback for the bombing of putin's prize bridge making crimea the mainland in russia, he wants more help, after uranian drones out of the sky. russia wants to provoke chaos in ukraine in the democratic world, with sufficient number, the key element of russian terror missile strikes ceased to work. they support ukraine, officials were reluctant to call for russia's defeat saying ukraine decides how this ends. >> you think putin is a rational actor? >> president biden: he is a rational actor who miscalculated significantly. he committed war crimes. he cannot continue with impunity to talk about the use of a tactical nuclear weapon, that's a rational thing to do. >> president biden has no
10:20 am
intention to meet with president putin, they go to indonesia for the g 20. stuart: kat mcfarland, zelenskyy wants air defense systems. what is holding it up? >> reporter: part of it is which country will deliver them, what time, how much will they cost and can they be trained on from? the mood of nato countries is to give an air defense systems but the problem with all this is vladimir putin has few options that is backed into a corner and is going to destroy ukraine, target civilian sites, deliberately go after the infrastructure, he doesn't care at this point whether ukraine is completely leveled and every human being is killed because he thinks, he knows he cannot survive as a leader of russia, can't even stay alive if he's perceived as losing this thing.
10:21 am
stuart: president biden and the g7 leaders are nudging zelenskyy and putin toward an offramp towards a negotiated settlement. is that what you want to end this war soon? >> absolutely. the closer vladimir putin gets to looking like he is losing, the more the west talks about unconditional surrender or zelenskyy says i will never negotiate with boudin the more likely pushing him into a dangerous place, escalating this. she wants to escalate the war so he can go to his own people and say i told you along, this wasn't us invading ukraine, this was america, nato invading russia. that is how he rallies his people. if there' s no negotiated solution keeps escalating and president biden says he's not going to use nuclear weapons. i understand the odds. it is the stakes i don't like. i think we should push both countries towards a negotiated
10:22 am
solution, set the fighting to stop and ukraine plays the long game, the world will rush to rebuild ukraine, to fully integrate ukraine and the western economies. meanwhile after the fighting stops what happens to russia? a world pariah and they remain so. stuart: interesting strategy you laid out. congressman is warning against democrats push to freeze weapons sales to saudi arabia. watch this. >> you will see saudi arabia turn more to russia and china. how does that play out in terms of that? i think putin will have a closer ally in the fight against ukraine, and there will be significant challenges. stuart: the president is going after saudi arabia. what are the repercussions? >> they are pushing saudi
10:23 am
arabia into the arms of the russians. they have pushed the irradiance into the arms of the russians. we are looking at a middle east where the united states is not a player, all these countries rush to russia's aid, what does that do? isolate israel completely. we should try to work saudi arabia and other allies in the gall to say how do we make this work instead of scolding everybody after-the-fact and isolating are one ally. stuart: you make too much sense. the us again soon. president biden says he never begged saudi arabia for oil. what was the meaning of that? >> he says it was about committing to the middle east. clearly he is not committed to us, look what happened to. you hear from the new york times and others the white house lobbied the saudis hard
10:24 am
and ask other members to wait another month before you cut output. gas prices don't surge before the midterms. they didn't listen. the question is now what? >> do you think it is time for the us to rethink its relationship with saudi arabia? >> president biden: yes. i didn't go about oil but making sure we made sure we weren't going to walk away from the middle east and what was going on. we should, and i am in the process when the house and senate gets back, they have to have consequences for what they have done. lauren: anything we do they could retaliate, let's oil on the market. first this administration goes after big oil companies, now the big oil countries, where are our allies. let me read an editorial today, this is the comment that i love. we mustn't forget the united
10:25 am
states is the world's greater producer of oil. energy security is national security. that is what they said about everything going on. stuart: hard to respond. secretary mayorkas call these pictures of border agents on horseback horrifying. new e-mails reveal he was told by witnesses and even the photographer they never saw agents whipping migrants. bill. and has the story. vice president harris silenced governor's for putting migrants to blue states. watch it again. >> i think it is a dereliction of duty. if you see a problem and if we agree we need to address it than if you are a leader, participate in a solution. stuart: congressman andy biggs, what does he make of harris's remarks? he is from arizona, a border state. he is on the show next.
10:26 am
you'll always remember buying your first car. and buying your starter home. or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help. t. rowe price. invest with confidence. moving forward with node- positive breast cancer is overwhelming. but i never just found my way; i made it. and did all i could to prevent recurrence.
10:27 am
verzenio reduces the risk of recurrence of hr-positive, her2-negative, node-positive, early breast cancer with a high chance of returning,... as determined by your doctor when added to hormone therapy. hormone therapy works outside the cell... ...while verzenio works inside to help stop the growth of cancer cells. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an antidiarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain, and rapid breathing or heart rate, or if you are nursing, pregnant, or plan to be. i'm making my own way forward. ask your doctor about everyday verzenio. meet a mining company that doesn't mine. advance united's au marketplace platform is ready to disrupt the
10:28 am
10:30 am
stuart: one hour into the market day, the dow is up one hundred 50 in the nasdaq is down. lauren has some movers. i see peloton. lauren: morgan stanley ones website traffic and conversion in september, web traffic was down 34% year over year, people are reconsidering expensive equipment and going back to the gym. stuart: peabody coal. lauren: they are in deal talks, merger worth $6 million, peabody is down 3%. 3%. stuart: they want to buy it. meta. lauren: this is amazing, there's no need to be in meta-today as an investor. about zuckerberg's but on the meta-verse idea, the world
10:31 am
changes by his 2030 deadline all this should pay off, it might never pay off. you have an analyst saying there's no need to be in it and they don't buy into the dream of mark zuckerberg. stuart: new the released e-mails show the by that ministration knew that border agents did not with those migrants in september of last year despite telling the public otherwise. what have you got for us? >> good morning. an email obtained through a records request reveals alejandra mayorkas was privately alerted by dhs officials the whipping narrative behind those infamous horseback photos wasn't true but hours later at a press conference, he didn't stop or dispute that narrative. it was obtained by the heritage foundation which filed a freedom of information act request 7 want to go seeking
10:32 am
all dhs communications in del rio, texas last summer. last week dhs finally produced an initial batch of emails including one from september 24, 2021, the same day president biden said this. >> to see people treated like they did, people being strapped, it is outrageous. i promise you those people will pay. >> hours after the president's comments marcia espinoza, top public affair official sent this e-mail to secretary mayorkas and other dhs officials at 12:05:00 pm. espinoza sends mayorkas a news article and literally highlights the photographer who took the infamous whipping photos said in an interview things are not as they seem, and the images are misconstrued, after receiving
10:33 am
that e-mail mayorkas joined a press conference at the white house where he failed to dispute the whipping narrative, president biden and other politicians were pushing. he called the images horrifying. >> we know those images painfully conjured up the worst elements of our nation's battle with systemic racism. >> during his comments mayorkas never disclosed the new facts he had been alerted 2 hours beforehand and the president of the border patrol union says that email shows there was never any interest in the truth. >> it clearly shows they are willing to lie to the american people for their self-interest, they withheld facts. anytime you withhold facts from the american people you should be willing to step down from your job come better men would step down. >> a 10 month investigation
10:34 am
later concluded the horseback agents never whipped anybody, don't even carry webs though they are facing 14 day unpaid suspensions for administrative violations, i reached out to dhs two days ago for comment on the story. i followed up again this morning but as of this newscast i've not gotten any response whatsoever. stuart: if republicans retake the house in november, mayorkas is toast, see you again soon. vice president harris wants amnesty for millions of migrants, she criticized republican governors for dereliction of duty, watch it again. >> we are talking people who fled great harm, and they are seeking refuge and talk about political theater, playing games with people's lives, absolute dereliction of duty. if you see a problem and we agree that we need to address
10:35 am
it then if you are a leader, participate in a solution. stuart: congressman andy biggs, are you derelict in your duty? >> i'm glad she used the words dereliction of duty because they mirror what biden, harris, and mayorkas have done along the border, they have failed in their duty, for her to use those terms and say there's lack of leadership, she denies the fentanyl crisis the border crisis, millions of people coming in, they ordered cvp and ice not to enforce the law, and now that they are harassing border horse officers, and she said dereliction of duty.
10:36 am
secretary mayorkas needs to be impeached, if he had any integrity he would have already resigned. stuart: how do you explain the presidential interview, jake tapper talking with the president, he didn't ask a single question about the border, not a single one. what do you make of that? >> they don't want to talk about the board, it is a big issue for most americans, not only do we have the fentanyl crisis, but terrorists who have come in, criminal gang members, increased criminal activity. stuart: why didn't he bring it up? was there a deal here between the president and cnn, we will come on your show if you don't ask about the border? i am getting that cynical frankly? >> it could be. this administration doesn't
10:37 am
want to talk about the border. they handle president biden with kid gloves, didn't want to embarrass this guy, they are hard leftists like the president, why bring up a total embarrassment and travesty for the american people that this guy has caused with his policies. we want don't want to bring it up. the biden administration is considering humanitarian parole program for venezuelan similar to the program given to ukraine. what is the president doing here? >> is granting amnesty, providing an incentive and doing it without authority. the parole authority will claim he's got a statutory and is meant to provide very few people to come in for specialized particular interests and what they are doing now is trying to find ways to bring amnesty because this is their policy, they said
10:38 am
the campaign is to open the border and grant this amnesty. stuart: extraordinary stuff. crime out of control, they are considering replacing part of the police force with an unarmed safety force. this will embolden criminals even more. we have a report on that. murders on new york subways skyrocketing and the highest level in 25 years. new yorkers don't want to come back to the office, they are scared. a report after this. ♪
10:39 am
10:40 am
10:43 am
stuart: murderers on new york city subways have hit the highest level in 25 years. take me through the numbers. i'm sure they are pretty bad. ashley: killings in the subway system since 2020 skyrocketed since the pandemic hit. there were 21 murderers, six in 2020, twee 8 last year and 7 so far this year for a total of 21. despite increased policing, felony crime on subways are up 42% compared to the same period last year. all of this comes as the number of people riding the subway has plummeted. in 2019, an average of 142 million people rode the trains each month, these days it is down to an average of 81 million. meantime a new york-based cnn
10:44 am
commentator is being slammed after he appeared to mock people's concerns about the safety of the subways saying going home on the violent nyc subways, riders paralyzed with fright while showing a video of uncrowded subway station. other people hit back saying they witnessed plenty of subway crimes often in broad daylight. stuart: on a related note postal workers in chicago are getting attacked by armed robbers. ashley: robbing people at gunpoint, residents are warned after a series of checks along with other items. chicago mayor all candidate, criminals don't care anymore because of the city's soft on crime policies.
10:45 am
>> they are transported through the postal service, trying to get hold of those keys to break into the mailbox, violate city law and every other law because in chicago there are no consequences. ashley: they are emboldened to get wilder and crazier and the current chicago mayor lori lightfoot, failing to act. stuart: it is a tight race for the senate in north carolina between gop candidate -- and sherry beasley. rumor has it that she is a soft on crime liberal. ashley: that's what her critics say. beasley says there are plenty of reasons to end the cash bail system for nonviolent offenders, benefits include less crowded jails, defendants keeping their jobs and families staying in their homes.
10:46 am
watch this. >> counties big and small, urban and rural changing the way they handle, cases and beginning to see positive results, jails less crowded, defendants keeping their jobs and families staying in their homes. these communities are finding this process does not compromise their safety and keeps their taxes low. ashley: she says communities are not compromising their safety if it keeps taxes low but beasley says jailing individuals, costly to the public and doesn't allow people to be out working and supports completely dismantling the criminal justice system and restructuring it, face against -- to replace retiring gop senator richard but. crime is a big issue and i'm
10:47 am
not sure what she is saying will resonate. stuart: i take your point. the city council in los angeles is considering creating an unarmed force to replace part of the la police department. kelly o'grady what type of situations would this unarmed force respond to? >> reporter: these would be situations defined as nonviolent or noncriminal. if a call came in regarding mental health, these unarmed service providers would respond instead of police. the service workers would collaborate with 911 dispatchers to identify which calls to respond to. the idea is to de-escalate situations by removing the armed police presence. we asked residents how they feel about the task force. >> i don't think it is safe, police officers should respond. >> was making the call in a situation like this?
10:48 am
>> it gets volatile, what is a person to do? try to talk him out of it? they are not trained for a situation like that. >> reporter: that's the primary concern of law enforcement. we spoke with la county sheriff alex avella waiver, the situation can turn violent on a dime, threatening the responder and the community. you wouldn't know if a call means police response until it is too late. proponent. hope this allows them to address more pressing incidents, skeptics characterize this as another way of defunding the police. la ranked as one of the most dangerous cities in the country something needs to be done but law enforcement warns if you remove the imminent threat of arrest wrongdoers will only become more embolden to. stuart: seems obvious to me. hunter biden facing potential
10:49 am
criminal charges but if you ask the president he's proud of his son. role it. stuart: this is a kid, not a kid, a grown man, got hooked, like many families at happen, hooked on drugs. he has overcome that. i am proud of him. stuart: lara trump on the show next will deal with that. the mayor of new york city says everyone will have to pitch and at host migrants. what should be the christian response the migrant problem? i will ask father robert next. ♪ ♪
10:50 am
10:51 am
transaction increases avino's resources to over 290 million silver equivalent ounces. avino silver & gold. ♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation.
10:52 am
as a business owner, your bottom line is always top of mind. so start saving by switching to the mobe service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. ™
10:53 am
10:54 am
asylum seekers, i'm hearing from people saying please not here, that can't happen. this is a citywide crisis and all of us will be impacted. you can't have it both ways. either we are in this together or not. stuart: big picture, which the christian response be to the migrant problem. that is the micro picture. >> this is obviously a powerful issue and people are angry about policy dimensions and what leadership is not done for years but the individual response has to be a shared response. the human person is of great value in the person who stands
10:55 am
before us, dispossessed of everything, demands of us a charitable response on this individual market. stuart: that is what i said in an editorial a few days ago, you come across someone in need and you as a human being respond to that person. i was deluged with criticism on the grounds that that would encourage more people to come. >> what is encouraging people is the open policy. people are coming for hope. my ancestors came to the country right here and experienced it with $50, his children and grandchildren all became part of the american fabric about the policy was different than it is now. stuart: we cannot take the entire population of central america and mexico, we can't do that. the policy has to be changed. are you satisfied with the
10:56 am
response on an individual basis? >> i'm afraid the policy is impinging on the sense of responsibility, this is an example how government can corrupt and corrode our moral sensibility. we have to respond charitably. we need to make these distinctions so people can direct their anger where it needs to be directed. stuart: you are our ideal guest this particular day. still ahead on this program momentarily we have martha mccallum and will cane, "my take," democrat senate candidate john federman had a stroke earlier this year and as he campaigns has trouble with words. cognitive ability is back as a campaign issue, that is "my take" next. ♪
10:58 am
63 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on