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stuart: more beatles, why not? just a great day, can't buy me love. good morning, everyone. i am determined to make you happy. good morning, 10:00, let's get to the money, dow is down 60 can nasdaq down 90, nasdaq down because of this, the yield on the 10 year treasury above 4%, $4.09, nasdaq doesn't respond, the price of oil, we put out 15 million barrels of oil from the strategic reserve. oil is up a little bit this morning. now this. 20 days to the midterms, there is desperation among democrats, polls are trending against them. real clear politics sees the republicans winning the senate. fox power ranking sees the republik and staking the house, nothing like a sweeping change

in power to concentrate democrat mind and what are they doing, checking out a couple of hail marys, two weeks after the white house said there were no plans to take more oil from the strategic reserve the president does a 180 him he will release 50 million barrels, drop in the bucket. america uses 20 million barrels a day, you think that will bring down gas prices? the president chucks out another hail mary, let's codify abortion, that's a vote winner, no it is not, the new york times survey showed it way down the list of voter priorities and the 32 point swing of independent women voters from democrat to republican is stunning. democrats are at each other's throats. bernie sanders says quit talking about abortion, former president obama says quit the buzz kill of political correctness. democrat alyssa slotkin says leadership is out of touch, bring on a new generation. this is what happens after two years of policy failure, you lose elections, desperate measures thrown out at the last

minute will not save the democrats but a power switch and policy reversal could save the country, second hour of varney just getting started. ♪ lose peak is with me for republicans if they retake control of the house in november, stop the madness and rain and spending. welcome to the show. liz: thanks for having me always. stuart: he is sending limit the spending but to do that he may shut down the government. liz: time for republicans to get tough on this. it is interesting mccarthy has come out on this, senator mark warner, a democrat, was talking about spending too much money on bloomberg, rival network, i

know but the truth is voters connecting the dots between too much spending and inflation, the number when she was inflation. what republicans can do when they take control of the house which they certainly will and probably the senate, they can block bills, block spending bills of the kind we've seen flowing under president biden, spending $7 trillion in the last 2 and a half years and start talking about solutions like reforming medicare, social security, hot button issues. i know that is dangerous for republicans but the average voter wants to change, they want responsibly, one of the other things being talked about a lot is all the money flowing to ukraine. why are people worried about ukraine spending, not just because we have a lot of issues at home that demand attention but because there's no accountability, where is it going? what are the actual spendings? like the money on covid relief, $5 trillion, where did it go?

this is outrageous we don't have more information, oversight, republicans can begin the process, they have to look at the hunter biden laptop story but i want to know where is the money going whether it is ukraine or the us, half $1 trillion has been stolen from our covid relief programs. that is unconscionable. half $1 trillion. if you look at the ppp program, the small business program, unemployment benefit, that the estimate for how much has been stolen by corrupt gangs, hackers and everybody else. this is an unbelievable thing that has happened, nobody wants to talk about it because republicans and democrats are on the book for having thrown so much money into the economy. it did work, we have a short recession, very quick to bounce back, that is why the one. $9 trillion american rescue plan is considered so reckless because it was on top of all the rest of that spending and we didn't need it but i'm

really fired up about this and happy for kevin mccarthy -- can i say one more thing? the other thing that is a game changer is interest rates going up. all of this, the fastest-growing part of the federal budget, everybody should know this is interest on our 30 one trillion dollars in debt and that will get worse. it is going to be 8 trillion more in interest payments over the next decade and that is with conservative estimates of interest rates. this is not a joke. it is not trivial. that was good today. it is always good. that is it. there is one issue facing voters the tops inflation in new york city. good morning. it is got to be crime. ashley: among republicans and independents, 28% of those surveyed in new york say crime is the most urgent issue facing the state today, democrats

listed protecting democracy as their top issue followed by crime and inflation. in new york city, no big surprise, crime is the biggest concern with the surgeon burglaries and carjackings last month. according to a quinnipiac university paul republican gubernatorial candidate lee selden has surged within for points of democratic incumbent huchul. a survey shows selden is gaining among white and independent voters. in august the republican had been down in polling by as much as 24 points. stuart: doctor oz is closing the gap with john fetterman in pennsylvania, what's the latest? ashley: a pennsylvania paul found fetterman receiving 48 support among voters compared to ours, 46%, falls within the

margin of error effectively tying the two candidates. the latest survey shows dr. oz holds an advantage among independents by 54% to 44, male voters 54% to 41% and rural voters by 60% to 36. fetterman's biggest advantage is among women 56%, 38% margin. interesting stats, that race getting much closer. stuart: back to the markets, this guy was once the super bowl, now he's not. i'm talking michael lee. we had a nice rally on day and tuesday, do you think it lasts? has got any legs? >> i don't think so. we could get a bit of a bounce but beyond that there is too

many unknowns and too much uncertainty, housing falling apart and you see manufacturing, 2 thirds of them contracting as well as the ism survey, the new orders to inventory ratio is collapsing. all these things spell horrific signs for the economy and the market. neil: when do we hit bottom. when? >> everything hits the fan towards the end of the first quarter next year which is when the fed is going to pervert because typically the second to last thing that falls apart is employment. employment should rise the first quarter of next year and shortly thereafter, inflation should fall off a cliff leading to a massive pivot from the fed. once that becomes evident it will bottom. i don't know how much lower it is, 2%, 20% but i would be

defensive until you see unemployment rise and inflation subside. stuart: we will be watching for it, always good stuff. looking at the movers and i'm looking at the streamers and so is susan. susan: look at netflix up 14% getting two upgrades today, jpmorgan, deutsche bank, 330-350 for the stock and that after netflix doubles the number of subscribers, 2. 14 million, that is positive and another 4. 5 million sign ups in the fall and most of that overseas since there has been such desperation in the us market and took the opportunity to criticize their competitors saying they are losing $10 billion a year spending on content to rival netflix. password sharing correct, happening next year, 15 analysts target price hikes, network stock today. stuart: it is going up, stock is going up.

susan: this happens when there's a surprising numbers, stock price built in the known knowns so this is what we call bottom in the streaming slowdown. stuart: netflix is at 162. susan: it started at $700. stuart: quite a year i would say. airlines surgeon, spirit airlines approved a deal. susan: of $3.8 billion all cash offer, the fifth-largest airline in america and i would say earnings too you hear from united saying a travel boom is happening, same thing i hear from american and delta over the summer time. blue one amazon, offering home insurance but that's in britain. susan: for now. that could be a test market, they sign up 3 insurers, mortgage demand here in the us at 25 year lowest mortgage rates crossing 7%. banks shipping - paying

attention, if technology companies like amazon joining apple jumps into financial services and other headline amazon paying for black friday 2,023 nfl football game so they are paying $50-$70 million a year for the extra game, one game but that is on top of the one. $2 billion they are paying the full year for thursday night football which is one game as well. jeff bezos climbing on a possible recession saying it is time to be cautious on twitter agreeing with goldman sachs. stuart: there's money in football. susan: did you read the analysis of $250 billion sports broadcasting rights over the last 10 to 15 years. stuart: in the united states. susan: most of that going to them. susan: i'm sure it did. speaker pelosi admits there is a need for general chanel change but she says leadership is about experience. roll tape. >> there is no substitute for

experience, legislation under the leadership of president biden who has done a spectacular job. he has had a better two years than most presidents. susan: stuart: charlie hurt takes that on in the next hour. two days since the white house launched its website for the student debt cancellation program already facing serious challenges, we will tell you that story. james bennett, new york times editor who was pushed to resign after publishing senator tom cotton's op-ed on the george lloyd riots is now speaking out and is blasting the new york times, his former newspaper. we have the story next. ♪

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stuart: a former editor at the new york times who resigned after publishing senator tom cotton's op-ed in 2,020 is blasting that newspaper. he says the new york times, quote, set me on fire and threw me in the garbage. greg jarrett joins me now. what does this say about the new york times? i think they are run by wokeys. >> reporter: you are right in the upper left-hand side of the front page, all the news is fit to print, there out to be a caveat that says as long as it adheres to uber woke and cancel culture and anything that advances political, social and racial justice, think back to what this was all about. the new york times invited senator tom cotton to publish

an op-ed and what he said was to quell all of the violence racking cities across america and especially in washington dc at the time we should consider calling in the national guard. there was vandalism, arson, looting, stabbings, murderers, billions of dollars in damage. it was eminently reasonable the staff at the new york times revolted. bennett was fired. they issued apologies that said that op-ed didn't meet our standards. what standards? what values are you talking about? the new york times staffers tweeted out things like we are working in a hostile work environment. this op-ed threatens the lives of black journalists in our newsroom. what a bunch of crybabies. if you don't want to tell the truth and be fair and balanced and neutral go work somewhere else. that is where the new york times is these days.

stuart: that was really good, you really made me think, exposed the story, the weakness at the heart of the new york times. come back home soon. here we go with new fox polls. ashley is with us. how much of a concern is education for voters this november? ashley: education is becoming a bigger issue, with 8 in 10 parents concerned about what is being taught in school, most parents especially republicans think there are problems in the school system including book banning by school boards, parents not having enough say, too much focus on race and transgender policies, the new survey finds what is taught in schools ranks fifth among voters with 72% confirmed, inflation 89%, crime ranked higher, political divisions ranking 74% more russia coming

in at number 5 with 73% but among democrats, all the way down in tenth place among the key issues, climate change and abortion policy at the top of the democrats list of concerns. stuart: thanks. the rollout of president biden's student loan forgiveness website facing problems. gillian turner joins me. tell us what is going on. >> the department of education website for student loan forgiveness has been live for 48 hours, already as we mentioned the department and some loan relief applicants dealing with major obstacles and financial experts telling us the program, website glitches, lawsuits. let's look at americans having a hard time with the website, the site blocking foreign ip addresses meaning millions of americans abroad qualify have been excluded. dod is left scrambling, they are working on de-printing and mailing out paper applications now is a solution.

look at this. married folks facing obstacles to apply for loan forgiveness, couples got joint federal loans or combined federal loans after getting married have been locked out of the program. this is a glitch they only discovered just now. the solution these folks have to seek a special waiver to make their pastor forgiveness a lot more onerous than for single folks. another major problem with the program is it is ripe for mass scale fraud and abuse. 12 million people who applied for the income-based loan forgiveness haven't had to disclose to the government what they earn. this is what applicants have to provide on the website to qualify, full name, date of birth, social security number, what they don't have to provide is proof of income which this forgiveness is supposed to be based on. president biden insist a bigger problem for his plan is his political opponents. listen.

>> president biden: let's talk who was against helping millions of hard-working americans. republican member of congress, republican governors trying to do everything they can to deny this relief to their own constituents. >> reporter: experts tell us, we went through this with covid, billions of dollars in scams and fraud in the government's is implement another program without a whole lot of security. stuart: we hear you. i'm going back further, reminds me of the rollout of obamacare that was disastrous, another problem with this one. thank you very much. the department of education announced they will address pandemic learning loss. a bit late for that. what are they doing? ashley: the department of education says the focus is on strategies and programs to

boost literacy and math outcomes but after a report released last month showed substantial learning loss among students during the coronavirus pandemic. 90 mac students had the biggest drop in reading scores in 30 years throughout the pandemic while mathematics dropped for the first time ever. the education department says its upcoming series as they are calling them has been created to assist states, districts, schools, getting students back on track, the focus will be research skills, giving support to students outside the classroom, teacher shortages and parental involvement, how to put all of that into practice. stuart: just deunionized the public schools. that is just me. ashley: that's not on the agenda. stuart: now this. listen to this. state senator in washington state wanted to designate january as chinese-american

heritage month, the bill was killed because the sponsor was right. jason rantz will explain the story. x boxes, free meals, fluff and fold laundry, these are the expensive perks provided to migrants at mayor adams tent city in new york and guess who is footing the bill. the full report after this. ♪

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claim over $1 billion in payroll tax refunds. but it's only available for a limited time. go to getrefunds.com powered by innovation refunds. stuart: those markets have all turned green, dow was up 120, nasdaq up 28 points. susan is looking at the movers. intuitive surgical. susan: one of the biggest gainers on the s&p 500 but you know who is doing better is netflix, still up 12. 5% and that is because the medical equip and maker beat on sales and profits, helped by 20% jump in the number of procedures with the robotic surgical devices. the medical field is getting so innovative and it is interesting.

i want to note how fantastically earnings season has been and that lowered expectations, they were forecasting the slowest sales growth in two years. stuart: those earnings reports are pretty strong across the board. susan: a growth environment that they are holding up better and wall street being oversold. stuart: asm l, chip manufacturer making the equipment that makes chips. susan: lifting sentiments across the chipmaking space despite the fact you have the highest 10 year yields since 2,008. that usually depresses growth stocks predicated on their future earnings, not the case, sales and profit came up better which means things aren't slowing down as much as people had feared in the chip space. stuart: is that an american company? susan: a dutch company but it is listed here. stuart: another company.

susan: this might be -- maybe not stuart varney but a small company, big stock moved, 7 wall street banks cutting price targets after a bad report card cut therefore your forecasts but interesting they are down 50% using half of their value in one session but then png makes other brands doing very well pricing power despite the fact that they have volume sales down. people are very sensitive on what they are paying in a high inflationary environment. stuart: rick caruso tying his opponent to the racism scandal rocking the city council. in los angeles is that giving caruso any momentum in this race? >> reporter: in august caruso is down 12, three and four, it

was disclosed last week as well as debating which bass accused a latino group accepting payoff to support caruso. >> the largest latino democratic club in the country endorsed me. are you insulting -- >> yeah. >> deliberately insulted us, the club was for sale. >> after 3 hispanic councilmembers were caught on tape making racist remarks and conspiring to redistrict the city to benefit latinos at the expense of blacks. >> if in this race, maybe it is caruso who says we need somebody who is not a career politician to come here and clean house. >> reporter: caruso sees an opportunity to capitalize on

the history of corruption. the feds accuse former councilman of accepting one million dollars in bribes from developers. payments allegedly arranged by the former head of the city's building and safety department. former aide and former city staffer. at the department of water and power, one attorney pled guilty for taking kickbacks. another for extortion. one executive fled guilty to accepting bribes while another is serving four years for lying to the fbi. former councilman mitch england is about er serving 14 months for taking $15,000 bathroom. and former councilman mark thomas is accused of arranging a scholarship for his son at usc in exchange for public subsidies to the university. karen bass while not implicated also receive a free scholarship. >> reporter: the scholarship gift bass received was worth 95,000 but she failed to disclose at a congressional

disclosure forum claiming staff asked for widespread corruption at the democratic we controlled machine at city hall. the only person who could do that. stuart: all over the report country republicans are challenging democrats and closing the gap all over the country and in los angeles. great report, thank you, see you soon. state senator in washington introduced a bill, he introduced a bill that would designate january as americans of chinese descent history month. it was blocked by democrat cindy arieu of chinese descent. why did she -- killed a proposal? >> reporter: she killed the proposal because the sponsor of the chinese-american heritage month is white. the state senate has pushed this at the expense of the equality group, doing this for two years and it seemed to be

gaining some momentum until democrat state senator cindy ruie said she was trying to send back this bill because the republican state senator is white. and other ethnic appropriation, and email she sent to her caucus, listed a lot of reasons she's killing the bill and when we have members of color who could have easily carried the bill, the state senator whose wife is chinese-american, not chinese enough because she's from taiwan according to some of these emails and implied republicans are racist and they only talk to the asian-american community because they pushed back against this affirmative-action bill the democrats were trying to pass in washington state which i find so ironic that she's calling anyone racist given she's killing the bill on the basis of the sponsor's -- stuart: priceless.

new york city set to open its first migrant tent shelter today. migrants will have access to big screen tvs, videogame consoles, laundry services. we may rant and rave about that but what else can the mayor do? can't let thousands of people walk the streets of new york and camp out there. >> doesn't it seem weird we are giving them the red carpet treatment at the same time we are pretending the border isn't open and we are not giving people reason to come into this country illegally? it seems to me we should not give a 5-star hotel experience, we should treat people with respect and dignity, not like we are putting them in slums but we are telling them -- maybe we should treat a lot of homeless people all -- a little better than we are treating them. we are simply saying if you're coming into this country illegally we might tell you not to come with a wink and a nod, we've got your back as soon as you get here. stuart: thank you very much,

see you soon. dave portnoy has been inundated with barks on twitter and calling on elon musk to get rid of them in and when he buys twitter. dave portnoy is on the show next. ♪ ♪

stuart: susan is with me, twitter is freezing the stock accounts of employees. susan: a lot of employees get rewarded with stock options. you have the stock account, the

fact that it has been frozen is a precursor to make a deal with elon musk, below musk is paid $44 billion to take twitter private. twitter shares no longer trade under the stock market, staff can't sell their stock just yet but you get to sell it in the october 28th deal with elon musk. does that make sense? instead of selling on the open market musk will take a private paying $54 and $23 a share, the stock was closed. blue one that has got to happen. and wall street says it is worth 1/4 of what elon musk is playing. stuart: barstool guy portnoy is calling on elon musk to get rid of barks if and when he buys twitter. elon musk replied i have a plan. dave portnoy is with me.

do you know anything about this plan to get rid of barks die elon musk? >> no idea. good luck to him because twitter has becoming unuseful. you write anything you get 9,000 boughts replying underneath it. stuart: has that happened to you? you have been bartered to death. >> yes. if you say anything on twitter, not just me. a lot of people, that is what elon started pulling back when he agreed to by it, want to see how many fake newses and boughts you have. twitter has become unusable. it is filled with spam boughts. stuart: any idea how you could get rid of barks? >> i can barely turn on my computer. i'm not really technical. stuart: you and i are similar. >> i don't get boughts. i don't understand how they

benefit from being boughts. stuart: we both flying blind on this one. he west buying parlor, trump has truth social, musk will probably take over twitter, where is free-speech headed in america these days? >> you can look at it either way. they are buying it with different platforms, they got regulated a little and i don't think that is a bad thing. always a fine line in the sand, who gets to decide? twitter has examples of really bad people who don't get banned and they kicked trump off and don't care how you feel any the one but who gets to make that decision and the truth of the matter is technology is like freedom of the press but they are privately owned. a slippery slope, slippery slope. stuart: my colleague susan lee is he with me and in the commercial break, what are we

going to ask dave portnoy? let's ask what kind of guy elon musk is and what you think of elon musk? susan: mogul to mobile. >> i will put that on my resume. i go back and forth on elon. certainly an interesting guy. don't know over the past year and 1/2 or two years seems like he has gone from running tesla to really loving being a celebrity. i don't know how he has time to reply on twitter to every thing. i find him a little bit insufferable. obviously brilliant, definitely brilliant but if i was a tesla shareholder why concentrate on tesla rather than this other stuff? if you wanted to buy twitter --

stuart: just made a couple headlines. you are a wealthy guy. telus, what are you buying? what investments are you making? >> can you see this sign behind me? read it. stuart: tax haven miami. you are living in florida? >> i moved to miami to save some money and bought some real estate and stock market but trying to figure out the best way to keep it. stuart: okay. the tax guys come after you, you know that, you can't just go to florida. >> when i have to fly into new york, land in new jersey, stay in hoboken, don't go across the river, count my days, i am no dummy. stuart: i was thinking of doing the same but didn't make it. quick question.

he raised $100,000 to help the families of two fallen police officer shot and killed in bristol, connecticut. give us the story and tell us how we can contribute. >> a tragedy, two officers, 3 was wounded, responding to a domestic disturbance sounds like they were fired on. a tragedy. always a tragedy. a lot of times in this country especially lately. most are risking their lives every day, don't know what the day will bring when you wake up and something like this can happen so we sell in march which we do when there's tragedies and reach out and help 100%, the net proceeds go to the families of these officers and money doesn't do anything. such a tragedy hard to put into words. when something like this happens, try to lend some help any way we can. stuart: you are good man no matter what they say, thanks

for being on the show, doing the right thing, thank you. see you again soon i hope. minimum wage workers being forced to work overtime to keep up with rising rents and the big cities of america, we will tell you how many hours they say they have to work to keep a roof over their heads. ♪ 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. then i got the dexcom g6. i just glance at my phone, and there's my glucose number. wow. my a1c has dropped over 2 points to 7.2. that's a huge victory. ♪ i got into debt in college

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stuart: rent in new york city is so hard that minimum-wage workers have to work overtime to afford an apartment. how many more hours? ashley: they would have to work 111 hours per week. in new york just to afford a one bedroom apartment that according to a survey by united way that makes the calculation based on new york's $15 minimum wage and average rent around $1000 a month but believe it or not it is worse in other cities, san jose, california takes the cake, 141 hours

despite having the highest minimum-wage earnings in the country, $16.20 an hour. dallas comes in as the second least affordable city at 120 hours even though the minimum-wage there stands at $7.25 an hour, an hour, chicago comes in third at 112 hours, new york, philly round out the top 5, one hundred 10 hours. it is a long way. stuart: mortgage rates have doubled the past 6 months, there must be a lot of people on the sidelines waiting to buy. ashley: especially those who saved up the money, americans are waiting until mortgage rights are home prices drop. how long will that take? the typical homebuyer who took out a mortgage in july made a $62,500 payment that was up 6%

from a year earlier. mortgage rates around 7% at home prices still high potential buyers are simply parking their money. fannie mae forecasts mortgage lenders will complete 49% fewer single-family home loans this year compared to 2021. financial expert saying holding off is not without its risks saying it could take years for mortgage rates to come back down. home prices still rising on a year over year basis even if the pace has slowed down. stuart: all new episode of mention global airs tonight. roll it please. >> picture your friends and family sitting here enjoying a good football game or even the super bowl and your friends will never want to leave because when they are not watching football they will be playing pool, arcades, enjoying those gorgeous views. stuart: katrina is the host of mention global, joined me now.

you are teasing me with these shots. everybody wants to mention. most of them are on the beach that you go to. >> some of them are on the beach and the beach is the best medicine. we went to areas where people migrated because they wanted better quality of life, and multigenerational living, so you can have parents or in-laws living with you if you like. but really, we went to areas that experience a lot of growth. why i love the show, i've been to selling real estate for 20 years, even if you are not going to buy one of these homes it is aspirational, you can get ideas, trends, i've got a lot of ideas. stuart: if you show somebody a mansion you can get design ideas from him. that is what you do. >> and manifest it, all about manifestation. stuart: in florida, california.

>> we visited florida, tennessee, texas, jackson hole, montana, arizona, connecticut, naples. stuart: well done indeed. we will be watching mention global tonight, 8 p.m. pm eastern on fox business. still ahead, charlie hurt, mark tepper, larry elder. the standard of living in europe is falling. energy policy, bad energy policies and the cost of heating your home this winter is going up and it will be a winter, of discontent. it is "my take" next. ♪ ♪

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time for republicans to get tough on this. voters are connecting the dots between too much spending and inflation. >> i'm prepared for government shutdown to get our country on track. >> if you have to stop the government from running operation to fix systemic issues