tv Varney Company FOX Business November 28, 2022 10:00am-11:00am EST
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ashley: ray davis, the kinks, you really got me. kick off your monday. good morning everyone. midtown manhattan, sixth avenue on cyber monday. most people are home i guess buying things online. we shall see. it is 10:00 eastern time. i'm ashley webster in for stuart varney. let's pet straight to your money. that is the most important. the market down with all the unrest about questions what is going on in china, could it hurt the supply chain, so on. the dow off 151 points. s&p and nasdaq moving slightly lower. as for the 10-year treasury yield that has been moving slightly lower. we've seen it down around 3.68% that is exactly where it is right now. oil has been down again on concerns about global demand especially with the china unrest. crude oil down 1 1/2%, down a buck or so at $75 a barrel.
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taking a look at bitcoin as we like to keep track of what is going on in crypto world, right around 16,213 for bitcoin. all right, we're about one week away from georgia's senate runoff between rafael warnock and herschel walker but some voters already cast their ballots this weekend. charles watson is in atlanta. good morning to you, charles. how many people voted early so far? what's the number? reporter: hey, good morning, ashley. so far we have tens of thousands of folks who voted so far. i believe the latest number from the georgia secretary of state's office is around 180,000 folk are come out to cast their ballots. look, this race, despite control of the senate being in the democrats favor, you get a sense here on the ground it is still of great importance to folks who live here in georgia. as i mentioned numbers don't lie. the georgia's secretary of state
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office released numbers for the first saturday and sunday early voting we saw there, more than 157,000 folks cast their ballots. that is more than 1 1/2 times the turnout compared to the first week of early voting during the general election. that is a win for democrats who fought and won in court to have saturday voting following thanksgiving after the georgia secretary of state's office said it was against the law to hold voting after a holiday. that may allow two dozen sites open at polling stations. lengthy lines formed, creating waits for two hours. folks say they stuck it out to vote their convictions. take a listen. >> on the abortion issue i believe women have the right to choose and mr. warnock represents that right. >> i really feel like i like smaller government, not so many regulations and power at the
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federal level. reporter: meantime both warnock and walker are out trying to deliver closing messages that they hope will energy even more folks to get out and vote. in the case of warnock, not only is he trying to attract the democratic base but he is also looking to attract republicans who refuse to vote for walker. the warnock campaign wants to make this race about character and the walker campaign is challenging them on that with this newest attacked a out today. take a listen. >> character is what you do when nobody's watching. >> uh-huh. and warnock thought no one was watching when his ex-wife called police to report his abuse. >> he is a great actor. >> looking at this know that herschel walker is not ready to represent nick. republican or democrat. reporter: ashley a little more about early voting, at least three counties, dekalb, quinn
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net, douglas counties already hit almost 20% of their early vote totals from the november general election. seems to be going pretty good here in terms of early voting so far here in georgia, ashley. ashley: what a battle for that senate seat it is. charles watson, great report, charles, thank you very much. i want you to take a look at this headline. it reads three reasons why herschel walker matters is that headline. deroy murdoch wrote it. he joins me now. great to see you this morning, deroy. spell it out for us. why does it matter? tell us. >> great to see you, ashley. matters very much that herschel walker and gop wins this seat. three main reasons, 50-50 senate is much more conducive to limited government and individual freedom and personal responsibility. very important virtues because in a sense, herschel walker as i use the termis the gateway drug to the joe manchin veto.
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if herschel walker there is 50-50 split senate. kamala harris will have to split any tie votes. that puts joe manchin and krysten sinema, this idea, this bill is too crazy, too far left. we have to dial it back. if it is 51-49 senate, warnock is there, much easier for chuck schumer to push whatever he wants through the senate. so that is important. warnock is presenting himself as moderate, middle of the road democrat. nothing of the sort. he is far left democrat. earn ad big fat f from the national taxpayers union in fiscal responsibility. voted 96% of the time with joe biden. voted against bordertroll agents for 87,000 new irs agents. they can't audit anybody making less than $400,000 a year. audit people making less than $400,000 a year. this is no middle of the road
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democrat. he is a far left democrat. it is important for black conservatives to speak out be part of the free government movement. herschel walker has been smacked around, verbally harassed so many ways. if he is defeat ad lot of black republicans being black conservatives, if walker wins, they will encourage to have those views, express them, make this a much better country as a consequence. ashley: you make your case very well, deroy. i want to move on to another topic. former president trump is criticized after he dined with nick fuentes, a night nationalist, rapper ye west. it comes as many republicans seem to be shrugging off trump's 2024 announcement. they sigh the excitement is quote, just not there. what do you think of trump? has his time passed or is he still power within the party? >> i think very much he is still power within the party. i saw a recent poll favored
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margin of 15% over ron desantis. we'll see in the primaries whether he winds up on top or somebody else. he invited kanye west to mar-a-lago. fuentes came along. he didn't know who he was. he was not famous. he was not on the guest list. if you're coming to mar-a-lago. we need to vet you. if you're somebody with inappropriate embarrassing views you shouldn't be allowed on mar-a-lago. a, you shouldn't be there and b shouldn't be embarrassing donald trump. ashley: someone has a lot of answers to give. thank you very much as always, deroy murdoch. >> thank you, ashley. ashley: on the upcoming election in georgia. the runoff election and more. >> you bet. ashley: this is interesting, elon musk announced who he would support in 2024. lauren, who is it? lauren: ron desantis. musk headline, an hour has
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passed this is what elon wrote, i was a significant supporter of the obama-biden presidency and reluctantly voted for biden over trump. all that was part of a twitter conversation with a conservative who then asked him, would you back desantis? and musk said yes, yes i would. why? because he is chief twit and freedom of speech is important. he thinks 2024 need as sensible leader and he believes that is desantis. ashley: fair enough. that is his opinion. next one for you, actress alyssa milano getting heat for her criticism of elon musk on twitter. what is the story? lauren: big oops. alyssa milano, i give back my tesla. i bought the vwev. i love it. i'm not sure how advertisers buy space on twitter, publicly traded products pushed in alignment with hate and white supremacy. doesn't seem to be a winning business model she writes.
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she thought she was so brave, so forthright. until many users gave her a history lesson like this one. volkswagen was literally founded by the nazis and hitler, that was back in 1937. elon musk responded to that with a cloud emoji. take that i suppose. she is still on twitter. amazed why she hasn't canceled? ashley: no. showing her ignorance what she did. lauren, thank you very much. get back to the markets. bring in bill baruch morning. markets are moving lower. bill, talk about what is going on in china, the lockdown protests. what impact on the markets could this have and how much concern going forward? >> i think the direct impact really to look at what the chinese want us doing. if the chinese yuan continues to weaken against the u.s. dollar it will slow down a lot of
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growth. basically exporting deflation. we're seeing what crude oil done today. a lot of materials, metals, those will get hurt too. i'm watching closely from a economic global standpoint but policy drivers here, what is taking place in china, lockdowns will disrupt supply chains. at the same time this unrest is also bringing uncertainty and markets don't like uncertainty. ashley: they certainly don't. by the way you say the economy not as bad as people seem to be making it out to be. with that in mind should the fed or does it pivot? >> i think they're going to hike again 50 basis points in december. probably another 50 in february. but the markets expectations are already aligned with that. the fact that they're slowing i think definitely a positive. we're starting to see some indicators within inflation. inflation data start to roll over a little bit. i think that is a positive tailwind as well. people do point to the excessive
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use of revolving credit. i don't think that is a precursor to a market selloff or precursor to recession. it is to me a parallel to a market selloff. revolving credit rallies when the market sells off but we're seeing record black friday sales. 9.1 billion on friday. cyber monday should be pretty good. beat expectations. 2.3% year-over-year growth. looking 1% year-over-year growth. i think excessive negativity is already in the market. put/call ratio is record highs. i could keep going here. i think i'm not sitting here chasing the rally. we're short a little bit for a trade. long-term portfolio manager management we're positioned in equities protecting our downside. ashley: bill baruch, i love your optimism, bill. much appreciated on a monday morning. thanks for joining us. >> thank you. ashley: thank you. all right. lauren, you're looking at some movers today.
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let's begin with shopify up 6%. >> look at that right? they're rallying into cyber monday. they're saying their merchants surpassed five billion dollars in sales of black friday. take a look at amazon. big tech is not up today. amazon is so they're bucking the trend up one and two thirds%. because it is cyber monday. don't be confused. amazon so down nearly 44%. first solar is down. inflation reduction act gives tax credits for manufacture of solar panels. that is a huge benefit for the stock. jpmorgan downgraded the company to neutral. the easy money has already been made. there will be a lot more competition this year. they're up 9% this -- 96% today, giving some back. ashley: a touch. president biden says the
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pandemic is over but if you ask dr. fauci we're still in the middle of the it. will the pandemic ever be over for democrats? we'll can the question. parents are having trouble getting anti-bottom ticks for kids as cases of covid, florida, and rsv are surging ahead in the winter months. how pharmacies are working to keep shelves stocked. there is growing backlash over biden's energy agenda as the administration turns to venezuela for oil. the white house insists they're easing sanctions on the communist country to support democracy there. hmmm. louisiana senator bill cassidy sakes that on next. ♪.
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that's 1-800-217-3217. ♪. ashley: the biden administration announced they will allow chevron to expand their oil operations in venezuela. edward lawrence is at the white house this morning with the latest development on this story. good morning, edward? reporter: good morning, ashley. president joe biden now apparently turning to the venezuelan dictator nicolas maduro to add more oil on u.s. market this is government the u.s. doesn't even recognize. the treasury department issued a general license to chevron to get venezuela's oil industry pumping into the u.s. the move because maduro representatives sat down for talks about elections. in anticipation of the criticism the administration spokesperson said this action will not be
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taken in response to energy prices this is a limited license. as we said in the past this is about the regime taking steps needed to support the restoration of democracy in venezuela. the u.s. oil industry representatives just shocked. >> you know we really wish they would just let up on some of these policies that are making it more difficult for the american producer and move forward approving pipelines in the united states instead of trying to you know license operations in venezuela. reporter: so republicans equally as disappointed that this administration is working to work with non-allies. >> i don't know why we're going to communist dictatorships. we're begging opec plus to increase production when we have energy right here in america to get the job dong. reporter: opec plus cut production at the last meeting. they're signaling a another cut at the next meeting. the idea by this administration to get as much oil on the market as possible to lower gas prices to a level where voters will
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continue to vote for democrats with the goal of not changing energy policy in the u.s. of restriction and regulation to try and cut down on the fossil fuel industry here in the u.s. while forcing that transition to wind or solar without changing any of the energy policies here. back to you. ashley: insanity. all right, edward lawrence, great job as always, edward. thank you. senator bill cassidy republican from louisiana joins me now. senator, an op-ed in "the wall street journal" calls this a quote dirty oil deal. what do you think? >> totally agree. and what that "wall street journal" editorial points out is that the administration killed a loan to guyana, right next door to venezuela, a democracy, which has been an ally u.s. instead of helping guyana to build infrastructure to take advantage of what light sweet crude off their coast, incredible economic development
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for an ally, they killed that loan but at the same time they are helping the venezuelans. this is wrong. if you want to support democracy, support the democracies already in place. by the way including ours. there is a lot of americans working in guyana. it is a way to create jobs in the u.s. as you go down there the administration doesn't care about these jobs. ashley: meanwhile we continue to ask for, senator, we look, we continue to ask opec plus to boost production to bring prices down. we're doing a deal with venezuela, allowing chevron to expand, all of this is utter nonsense because the answer is right beneath our feet in this country. how infuriating is it? >> it really is infuriating. you cannot separate energy security from economic security and national security and by the way from climate either. if we produce oil with our energy, with our environmental standards it is less carbon
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footprint, it creates more jobs for the average american, better paying jobs. it increases the national security and the security of the europeans. this administration has chosen to focus only on carbon emissions, which means we get more carbon emissions. they're burning coal in europe because we can't supply them with gas and oil. at the same time we lose jobs here, national security weakens, economic security weakens. this administration, their energy policy is wrong on all fronts. ashley: that is exactly the place where we're going to have to leave it. it says it all. senator bill cassidy. senator, thank you so much for jumping in joining us this morning. we do appreciate it. meantime senator manchin's side deal, thank you, with senate majority leader chuck schumer to fast track pipelines apparently that is on life-support. come in, lauren. what are the details? >> you know, democrats needed his vote and they got it to pass the inflation reduction act or major climate spending bonanza.
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that included a iou for manchin for getting permitting reform, getting mountain valley pipeline that runs through his state of west virginia green lighted this year. that pipeline would have created 3700 jobs and it would have given senator manchin political cover in ruby red west virginia for giving democrats virginia. getting reform passed now are being called a miracle. republicans are mad. they want manchin's seat in 2024. already west virginia congressman alex mooney will run for manchin's senate seat. that is just one name. it is still pretty early. so doesn't look like getting what he was promised. ashley: no. lauren, thank you very much. now this. one of the largest furniture businesses in the country has laid off nearly its entire workforce through a text right before thanksgiving. oh, my. we have that story. the holiday shopping season is
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go to getrefunds.com powered by innovation refunds. ♪. ashley: let's take a look at these markets as we kick off a new trading week. we are down. concerns what is going on in china, the protests, possible disruptions to supply chains all of that the dow is off 200 points. s&p down 3/4 of a percent. same story own the nasdaq. come on in here lauren. you're looking with other movers. start with microstrategy. lauren: they're down, down in a big way. all crypto related names are down sharply. there is a report that ftx pushed lender block 5:00 to push for bankruptcy protection. with that major layoffs are being announced as well. look at draftkings and penn
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entertainment, unfortunately they're down too by 3%. jpmorgan turned bearish. they say profitability for these online sports betting names is aways off. finally tesla, they are a winner, at least, yes, yes, up 3/4 of 1%. but they're up. there is a report that they're developing this revamped model 3 and they will start production on it in a year. it is code named high land and they will redesign it, particularly the interior, so more affordable for them to make. hopefully more affordable to purchase. i think the model 3 starts $47,000 at the top of my head? ashley: not cheap. good stuff, lauren. thank you. now this, credit card applications are on the rise as we head into the holiday shopping season. this despite of course record high interest rates. gerri willis joins me this morning. great to see you, gerri. i have guess the question is, how much are americans charging to their credit cards?
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reporter: 866 billion-dollars, think about that, big numbers as cyber monday gears up, americans are charging more than ever on their credit cards as interest rates soar above 19% on average, that is the credit card interest rate and the highest in 31 years. inflation rates at levels wage growth failing to match, no surprise, credit card balances hitting a rise, record 866 billion in the third quarter, 19% liar than the same period last year. according to trans union, the credit reporting agency. now some cash-strapped households are using credit cards to pay for necessities like utility bills. christmas bills will no doubt end up on plastic too as 48% of americans in a deloitte survey will use old-fashioned credit cards to pay for presents. americans are loading up on debt at a time savings levels are plunging, look at these numbers, falling to 626 billion, from
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4.85 trillion in 2020. today's levels the lowest since the great recession. and that means paying off those credit cards will take time. for example, look at this, if you have 1000-dollar balance, pay a minimum of 25 bucks a month, it will take you 65 months or more than five years to pay off the debt. that includes interest of 605 bucks. think about that. your interest amount more than hatch your original debt. listen. >> it highlights the importance of paying way more than the minimum. pay it all if you can or maybe get a 0% balance transfer card. reporter: finally 40% of holiday shoppers this year say they will limit debt from higher prices using coupons, credit card rewards, always good, trading down to cheaper brands, remember this, buying less. ash? ashley: you can always do that too. gerri willis great stuff, gerri, thank you very much. steve forbes joins me now.
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okay, steve, what does this all say about the state of the economy? more and more people are putting on credit cards with 19% interest? >> what it says is that the great high in terms of transfer payments from the covid prices is coming to an end, especially for lower income people. that is why you see the savings rate plummeting. we're down to 3 or 4% instead of the higher rate we used to have, a normal economy of seven to 8%. it means next year the economy will take a big hit. fourth quarter is looking better than the economy really is. people are determined to have a good christmas. they are running up balance an owed card, when came in covid couldn't spend the money fast enough -- hundreds of billions of dollars. fourth quarter will give a false signal. next year we'll start paying the morning after. ashley: yeah. going to have to pay the piper
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as they say. get into this issue, steve. remote jobs are in high demand after the pandemic reshaped work place norms, but work from home positions are becoming in short supply because many americans are looking to stay working from their couches but people, you know, the employer wants you back in the office. how does this play out? >> well, the, before the covid crisis about 6% of americans worked from home. now it is about 18%. it tripled so it will go down some because employers discovered having people in office, interacting with each other, doing things spontaneously, that is what they call brainstorming on the fly is critical for moving ahead. ashley: yeah. >> a lot of jobs can't be done from the couch anyway. at the same time, with the economy slowing down you're going to have a rosy job picture start to look pretty bad. it is all combining together. but there will still be a lot of at home. also the gig economy, where
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people are private contractors, the biden administration is waging war on that. so there will be pressure from that. ashley: very good. we'll have to leave it right there, steve. steve forbes as always, thank you, sir. >> thank you. ashley: all right. thank you. now this, one mississippi-based furniture company laid off nearly all of its workers right before thanksgiving. come back in here, lauren, they did this over a text message? lauren: yes and email. it happened on monday night, last monday. you don't always check your phone overnight, so people showed up to work except they didn't have a job. united furniture operates under the lane brand. many people might know that. they terminated around 2700 employees and their benefits immediately, days before thanksgiving. so now some former employees are suing for violation of the federal law which says you have to get 60 days notice or severance. not only are the employees
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shocked but the retailers that carry the brands are shocked too. what went wrong? offshoring is number one. and number two, the supply chain. sometimes when things especially during the depths of covid take so long to arrive to our shores from overseas you have retailers that, instead of waiting they can sell the orders that they already placed. so those are some of the big issues that affected this furniture brand. ashley: all right, lauren, thank you very much. now this, a plane crashes into power lines and gets stuck there for seven hours. check that out. we're going to show you this must-see rescue, a remarkable story. meantime a new bill could deny new york city landlords from performing criminal background checks on perspective tenants. it is being met with fierce resistance. we have details on that next. ♪.
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♪. ashley: let's take a look at these markets for you. we are pretty much where we've been since the opening bell over an hour ago. the dow off 170 points. the s&p, nasdaq, down .6 of 1%. we're will hearing from fed chairman jerome powell on wednesday. then we have the big jobs report on friday. a lot of things to consider this week. right now very muted on the downside. now this, a pent house on fisher island in florida, could set records if it sells for the asking price. lauren, how much is it listed for? lauren: $90 million. $90 million. the previous record is 60 million that ken griffin i
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had paid for a place. this is 30 million more than that. this speaks to the popularity of the miami area, south florida. it defies gravity. as for fisher island, it is exclusive, what, 360 people live there. in order to go on the island you need a boat, insite from a resident, just to get there. so related, acquiredded property in september and they say they have 20 families interested. most would pay cash. $90 million cash? it is a penthouse property. ashley: my goodness. lauren: it is 15,000 square feet. it is beautiful. this is why they actually might get 90 million. it is built on the remaining piece of land on fisher island. so if you want to live there, and you want something new, that might be your last shot. ashley: i am going to have to go down there to do that story, i decided. i just need a boat. thank you very much.
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that would be fun. and an invite, forget about it. let's bring in mitch roschelle. he could probably get an invite. good morning to you. you say the housing market is not on the verge of collapse. it is not all doom and gloom but you say we will see a slowdown and a price correction so how much? tell me. >> i think we're seeing prices maybe 10 to 15%, ash, off of the peak highs which were experienced last six months or so let's remember in some parts of the country, those prices went up by 40 to 50% over the period probably from march of 2020 till about you know, three to six months ago. so even if, you see a price off of that peak, they're nowhere near the prices of you know, 2019, early 2020. ashley: is that true in florida and texas and those places that were so popular?
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>> you know, florida, where i am right now, we can talk about a 90 million-dollar condo on fisher island. talk about that for hours. florida is still very popular. i think what we've seen here more homes on the market because the problem down in florida was, no one was putting their home on the market because if they sold it, they wanted to stay in florida, they probably couldn't find something to buy, if they were trading up or even trading down. we've seen definitely more homes in florida on the market which is really been a good thing but i'm not seeing prices fall in florida the way they are in other parts of the country. ashley: you know what, mitch? you say that higher rates will give the upper hand to buyers which is of course a major power shift from two years ago when sellers could you know, take their pick from multiple offers? >> right. when there was bidding wars, when people were making offers on homes that weren't even for sale yet, putting notes in
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peoples mailboxes, if you want to sell, pay you this, that disappeared. what was really happening a little reckless if you think about it from a buyer's perspective. they were waiving mortgage contingencies, they are waiving inspections. they are paying some seller's closing costs. now that has shifted. sellers paying buyer costs. getting adjustments finding a broken air conditioner. ashley: things have changed. >> we have mortgage contingencies is a little crazy. ashley: fascinating t really got out of control, didn't it, at the height of all that? mitch, we're out of time. great stuff, mitch. i'm sure you get an invite to the 90 million-dollar place on fisher island. no doubt about it. >> i will email you a story, ash. i have got a story about that one. ashley: there you go, please do. here we go, new york city is seriously considering a new law that woe prevent lard h would
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prevent landlords, get this, getting criminal background checks on prospective tenants. lauren: why would they do that? criminals get a second, third, fourth chance. that is apparently more important than safety. the bill goes before the city council civil rights. it is reportedly back by 30, 51 new york city council members. it has the support of mayor eric adams. so slight consolation. if you are a homeowner, and you're renting out a single room, you would be excluded here. so you could perform a background check. but still, critics say it gives robbers, worse, murderers, invitation to live with someone else and that person not knowing that background. ashley: right. what could go wrong. lauren, thank you so much. >> unlet believable. ashley: now this really is. it is new york city. elon musk may soon release information on twitter's censorship of the hunter biden
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laptop story. can't wait for that. joe concha says, musk knows what he is doing. journalists are doubting it because they have lost, guess what, their safe place. joe joins me next. ♪. the first-ever all-electric chevy equinox ev. up to 300 miles of range on a full charge. and a starting price around $30,000. evs for everyone, everywhere. chevrolet. teeth sensitivity is so common.
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or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. ashley: now this, elon musk says he may soon release details related to twitter's censorship of the hunter biden laptop story during the 2020 elections finally. hillary vaughn is on capitol hill this morning. hillary, what kind of information are we talking about, do we know? >> reporter: internal discussions that led to the decision to censor the hunter biden laptop story on twitter before elon musk took over. he is making it clear now that he is in charge freedom of speech is a major priority. that includes coming clean to what steps led to them censoring the hunter biden laptop story on the platform in the critical days leading up to the 2020 election. musk replying to a twitter
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user's requests releasing all internal discussions that led to the censorship in the interest of transparency. muck indicated he will. tweeting this is necessary to restore public trust. jack dorsey admitted they were wrong to censor the hunter biden story which they said at the time violated the company's hacked material policy two years after the "new york post" broke the story, several news organizations verified the story as legitimate. cbs news the latest to do so. now republicans on capitol hill eyeing a majority in january say they will use their oversight powers to dig into who at the fbi warned this story was quote, russian disinformation and investigate the former intelligence officials that signed a letter saying they also thought it was russian disinformation. >> by the way there is something we can do in a republican-controlled house here. we should investigate, we should subpoena everybody, for example, that signed that letter, former high level intelligence community officials signed a letter saying this was all russian disinformation. turns out it wasn't.
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turns out that was a lie. if people are abusing their current or former post in the intelligence community to meddle in american politics i think that is something we should investigate. >> reporter: republican congressman james comer, incoming chair of the house oversight committee said sunday they will have the capacity not just to investigate one thing, but up to 50 different things with a staff of 70 people. ashley? ashley: all right. fascinating. hillary vaughn, thank you very much. guess what, joe concha joins me now this morning. good to see you, joe. okay. it took the mainstream media nearly 800 days, two elections to admit the hunter biden laptop story, guess what? it's real. what took them so long? >> there wasn't any sense of urgency, ashley, right, to verify that laptop, certainly not before a presidential election in 2020. then once joe biden was safely into office we see everybody from "the new york times" to "the washington post," to cnn, to cbs news, last week, 769 days
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later, yeah, by the way this is all verified. you know, ashley, if we truly care about preserving democracy, with demand total transparency from traditional media but from social media as well, anyone and everyone from idealogical stripes should want the information out there, right? what and who was behind the censorship of this massive story? but the best part here, ashley, these folks who call themselves reporters and journalists hold the old twitter before elon musk as shiny beacon of truth and deterrent against misinformation but they can't accept the fact we censored the hunter biden story or anybody that said covid may have come from a was in wuhan that studies coronaviruses, maybe that is where covid came from. if you shared that information, idea, or theory your account was locked. why is that such a good thing and why would we ever want it back? ashley: oh, the magic world of hypocrisy. this one, joe, investor in
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silicon valley said twitter disappearing would be good for democracy. get your thoughts. >> if twitter disappeared completely it would be a good thing for democracy and public health and public safety. i think that is the least likely outcome. i think what musk is doing is he killing twitter as we know it. twitter is a platform that has been open to all kinds of voices normally suppressed, even in a democracy. those voices are being harmed here. ashley: oh, joe, have at it. >> yeah. bottom line, as we speak twitter is working just dandy. it is usage at all-time high i keep seeing over and over sound bites like that and publications like "the new york times" or "politico" saying that elon musk spent $44 billion to buy a company so he could destroy it. look, the bottom line is jeff bezos of "the washington post," owner of amazon, he is laying off 10,000 workers.
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11,000 workers laid off at meta. facebook hiring freeze. thousands more at microsoft. big tech, social media, they're undergoing a massive correction, ashley. they're trimming the fat. that ain't just occurring at twitter. here you have elon musk who has run tesla and spacex, turned them into enormously successful companies. being told he has no idea what he is doing as businessman but apparently he does. ashley: what a crazy world we live in. thanks so much, joe,. >> happy thanksgiving, ashley. take care. ashley: you too, joe. take care. look at this, brand new sculpture of elon musk just appeared in austin a little disturbing. head of tesla ceo sitting on top of a metal body of a goat riding a rocket. that is exactly what i saw it was. it was to elon musk's contributions to cryptocurrency. this is the elon goat token, it
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