maria: welcome back. its been a quiet pre-market opening this morning, about an hour and a half before the opening bell sounds take a look where we stand dow industrials down 39 of course the real action happens later on in the week with the friday release of the ppi, and next weeks fed meeting, dagen? dagen: right i think it's that nick timaros story about the federal reserve that shook markets yesterday and will continue to shake them the rest of the week about wage pressures and whether the federal reserve maybe it's a half a percentage point in december but then what next year in terms of continuing to raise rates. maria: triggered by the ism number better-than-expected mark. >> yeah, seems like more and more people are on board with the thought the fed is going to continue to hike us right into a recession. you know, for the rest of 2022 i think the markets going to trade sideways but the beginning of next year could be rough. maria: all right dagen, mark, great to see you. have a great day everybody we'll see you tomorrow "varney" & company begins right now. stuart: yes it does, good morning, maria, and good morning

, everyone. it is election day in georgia. democrat raphael warnock goes up against donald trump's hand picked candidate herschel walker , a lot at stake here including trump's standing as a presidential candidate and his position in the republican party the polls are open. oh, we got a bombshell from the irs. they're warning you that they are following all transactions over 600 bucks on paypal, venmo, or any other payment system. they are looking for income that they can tax. you've left an electronic paper trail. watch out. president biden heads to arizona today. he's pushing the expansion of chip manufacturing in the u.s.. this morning, taiwan semiconductor announced a tripl ing of its spending here. $40 billion on two chip plants in phoenix. the president will be just a few miles from the border but he has no plan to visit. to the markets. not that much action in the early going today for stocks plenty of selling yesterday. the dow looks like it's down about 30, nasdaq up maybe 17. not much movement.

same story with interest rates. not much movement. the 10-year coming in at 3.55 this morning and the two-year right about 4.4% almost, so that gap, the 10-year and two-year is enlarging if you can say that. look at cryptos. bitcoin right at the $17,000 mark. by the way, top banker jamie dimon says crypto is a side show and tokens are like pet rocks. remember them? i want to show you the continuing decline in gas prices. we're down now to a national average of 3.38 for regular that's down $0.02 overnight and it's down $0.42 in the last month. diesel averages $5.05 and that is down $0.28 in a month. wait, there is more for you. harry and meghan get an award for fighting systemic racism in the royal family. this comes just a couple of days before their tell-all netflix special. we hear prince william is scrambling for damage control and believe it or not, one

california school calls good grammar just white supremacy. another california school proposes a satan club in an elementary school. queue the eye roll. tuesday, december 6, 2022. "varney" & company is about to begin. ♪ here we go, one more time, everybodies feeling fine ♪ stuart: before you put it up there, i knew it, i like that. lauren: he told you in your ear. you did not know that. stuart: that is true. lauren: [laughter] stuart: i can not lie when you look into the christmas tree. certainly not. lauren: and the american flag. stuart: yes, indeed. thank you, lauren. here we go on this tuesday morning. georgia voters heading to the polls again for the runoff election this time. they will choose between democrat senator raphael warnock and his republican challenger

herschel walker. look whose here. well, actually, lawrence jones is at a diner in spalding county , georgia just south of atlanta. big picture. do the voters there see this as a referendum on trump? lawrence: i don't know, brother. good morning to you. i think when you talk with the voters it's about whoever has the greatest connection with them. if you were following the last election, brian kemp was able to beat stacey abrams by a large margin. walker wasn't able to do the same thing but when you talk with the voters they say they were able to connect with kemp, that he got repealed that gas tax, and kept the state open during covid. also, he was almost able to double his voting with black males from the prior four years when he ran, so it's all about connectihing out to those community people. i don't think the people care about biden or former president

trump right here. they care about the candidate that's going to be able to serve them best in washington. stuart: is it raining there? because that might effect voting day turnout. lawrence: it's a little drizzle and foggy as well, which could be problematic for the republicans, because the majority of their voters are on election day, they haven't quite mastered the new system of voting where there's endless early voting. they are opposed but they haven't been able to come up with a strategy while still legal, so that can be problematic for them. i saw herschel walker on with my friend shawn hannity last night and he said look he used to play football through rain, sleet, or snow and he thinks voters will do the same thing on election day but we'll have to see about that, brother. stuart: you know, i was watching you earlier today on "fox & friends" and they kept asking, did you try the bacon, well, did you try the bacon?

lawrence: you know, stu, they act like i'm a pig and that i just eat all the food at every diner. i was really disappointed with them, but yes, i tried it, and yes, it was delicious. stuart: well you're six foot five, thin as a rake and you're not even 30 years old. you can eat what you like and you'll never get big and that's a fact. >> listen, if the bosses keep sending me to these diners i won't be thin for long, okay? stuart: [laughter] we'll see you soon, lawrence. all good stuff. we appreciate you being here. lawrence: see you, brother. stuart: former president trump, he's walking back his cause to otter min ate" parts of the constitution. he claims he never said that, and his initial post was calling out just a widespread fraud and deception of the 2020 election. all right, lawrence is here. this prompted an interest in response from republican didn't it? lauren: his former national security advisor john bolton says he will consider running for president in 2024 just to stop his former boss from returning to the white house.

listen here. >> i think could be a presidential candidate, you can't simply say, i support the constitution. you have to say, i would oppose people who would undercut it. i think when you challenge the constitution itself the way trump has done, that is un- american. i'd like to see sherman-esque statements from all of the potential candidates and if i don't i'll seriously consider getting in. lauren: other republicans including mike pence also hit trump for those comments over the weekend about the hunter biden laptop when trump called for the termination of all rules , regulations and articles, even those found in the constitution. he did clarify long statement but i'll read part of it and he said, bring it up, the fake news is actually trying to convince the american that i said i wanted to terminate the constitution. this is simply more disinformation and lies. stuart: well he used the word termination. lauren: yeah. stuart: he used that word in his statement. lauren: and then walked it back and clarified. stuart: tried to anyway. thanks, lauren. arizona has officially certified

the mid-term results. lauren: so the state certified the democrat katie hobbs as their next governor, republican kerri lake refused to concede and is suing all 15 counties in arizona have certified their results. why is this state so interesting because us the only one where republicans running in the top positions all embraced donald trump and all lost. so you have hobbs yeahs governor the democrat adrian font exs as secretary of state, and mark kelly, a democrat returns to the senate. stuart: herschel walker is a trump guy in georgia in the election dade. i'm not saying anything more, okay? thanks, lauren. check those futures, please. why not. not much price action in the very early going this morning dow down maybe 50 and nasdaq about 11. michael lee is here with us this morning. actually in new york city sitting next to me. are we going to see a santa claus rally this year? >> you know, we'll see everything kind of hinges on the price action right around here, we're at 4,000 on the s&p 500. that is a very key level for ct

a's or commodity trading advisors so basically the computers that give us this whiplash effect so if we get a little bit of strength expect to see buying. if we get a little bit of selling expect to see the bottom fall out potentially 200 points out of the s&p 500 right here. stuart: whoa 200 points out of the s&p 500 at 4,000, i can't do percentages but that's quite a drop. >> that's almost a 5% drop. stuart: does it all hang on the fed? i don't see how the fed can ease up that much on its interest rate program when the economy is relatively strong. >> so, i would not say that the economy is relatively strong i'd say the things that turn last, which are unemployment, okay that is the last shoe to fall and net inflation terms so i think the fed will 99% chance they will over do it in terms of tightening. take the economy into a deep recession to stop inflation, because if you don't stop inflation, you run the risk of,

you know, society and the fabric of society running apart. stuart: so you really think they are going to do it and go all the way, push us into a real recession? >> i think a recession is already inevitable. if you look at the way housing turned and manufacturing have turned, there's been a recession 10 times out of 10. it typically happens a year after housing, starts to turn, which was april and may of this year, so by the end of the first quarter and that's coincidentally when a lot of the fed rate hawks we'll actually start feeling in the economy, remember it takes six to nine months before these fed rate hikes really hit the economy and so we were still at 2% in the fed funds rate in august so a lot of the 75 basis point hikes the real economy hasn't really felt them so i think hopefully at some point next summer, late spring, will be actually feeling this recession and see a bottom and the fed will have the opportunity to pivot. stuart: you used to be super bull. buy that thing, buy that thing, and now you're pretty much the opposite aren't you? >> well look, i don't necessarily know the bottom will

fall out of the stock market because stocks could be irrational for a very long time and some of this is definitely priced in but if you look at earnings for next year, the estimates for 5% growth, i think that could be off bias much as 15%. the fourth quarter estimates were 9.1% at the end of june growth. now we're looking at 2.1% decline for the fourth quarter. that's an 11-point swing so we'll see how next year plays out but with interest rates likely to stay stubbornly high, earnings declining, economy contracting, it's going to be hard i think for stocks to break out. lauren: consumer spending, their savings, that's going to dry up by jamie dimon is saying early next year. stuart: mike lee, no longer super bull, but -- >> soon enough. stuart: turn it around at some point will you please? thanks, mike. where we going here? coming up i'll tell you what's happening on the show. the white house firing back against elon musk after he released the twitter files. watch this. >> we see this as an interesting or

coincidence, twitter was so haphazardly pushed this distraction, that is a full of old news if you think about it. stuart: kjp, it's unhealthy, she said? we'll get into all of that. unhealthy, interesting. we're seeing a spike in covid, flu, and rsv cases ink across country. the cdc is encouraging us to get back into masks to help prevent the spread. we've heard that before. i'll ask dr. marc siegel, masks or no. the doctor is next. ♪ ♪ as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary,

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♪ i say, have a nice day ♪ stuart: have a nice day! isn't that something? i remember them, from way back when. that by the way is lake michigan it's 36 degrees. well, why not? it's the first week of december. futures, not much for stock prices at least not in the early going dow down 18, nasdaq up 18. now this. health officials warning, we're facing a tridemic. flu, covid, rsv. more than 70% of the pediatric beds are filled ink across country. jeff flock is at a hospital in philly. how are hospitals dealing with this surge inpatients, jeff? reporter: they are holding their own so far, stuart. yeah, there's a lot of pediatric beds behind me at st. christopher's hospital for children in philadelphia. i just talked to the head of the emergency department here. we're just outside the emergency room. he says rsv cases getting a little better but flu getting

worse. you mentioned tridemic, some people call it a triple-demic. neither are medical terms but it refers to the confluence of rsv, that's respiratory virus as well as regular old flu and then the looming threat of covid , which cdc said yesterday is getting worse ink across country. first the numbers on flu, and i know you're a big fan of the flu , having gotten one every year of your life. 8.7 million flu cases so far according to cdc thus far this year. 78,000 hospitalizations and 4,500 deaths. they say that is about what a typical season might hold for flu, so we're way ahead of that. that means a lot of hospital beds taken up almost 80% nationwide according to health and human services. that has led chuck schumer to say hey, feds, better get ready. he says the unprecedented surge in rsv cases among children particularly in his state in new york, that's why

i'm telling the feds, he said, today get ready for it. that's the big fear, stuart, is while they are holding their own at the moment these three things all coming together especially around christmas when we all get together and share our germs , maybe things get worse. you know, one of the reasons some experts think rsv is worse this year is because kids who were, you know, in remote learning, didn't have a chance to build up the natural immunity to rsv that they typically would have and they say, you know, they aren't criticizing their response, but that's kind of what you have to deal with. stuart: jeff flock in philly. got it. thanks very much, jeff. see you later. now the cdc is encouraging people to wear masks over the holidays to help combat this tridemic. dr. siegel is with us this morning. do you think people will listen to that, get out and wear a mask again? >> no, but i'm not going to come -- stuart: what a direct answer. >> i'm not going to come on here and tell you i don't think masks have value. i wear them in the office. i just wore one on the plane. i was the only one. there was somebody wearing one

down over their chin sneezing by the way, like that did anything. the airlines not telling anybody anything about precautions, so the compliance, people are fatigued. they aren't going to wear them and the more they are scolded or talked down to or criticized, the less they are going to do. what should have happened is that somebody delivers a public health message. do masks help? a little bit. a little bit. if you wear them properly. if you have the right mask. if you have a high grade mask. don't force them on young children and interfere with earn hadding and socialization. so it was mishandled all the way by the government talking down to us. stuart: if i walk out of this studio, put on a mask, what level of protection do i have? i mean, have i got some level of protection? is it some help? >> some help. minimal compared to, by the way, staying home if you're sick, testing yourself if you actually have been exposed to a virus. the common sense things that have gone out the window. if you're coughing, stay away from people. if you're sick, stay home. you know, if you think you've been encountering covid, test for covid.

the flu, now jeff was talking about the flu versus covid. i want to give some good news here. rsv is on its way down. dramatic drop since last week, because the kids have all had it now. it's going down. flu is on its way up. we've reached the numbers from last year already with flu, and we're seeing over 10 million cases at this point of flu. that's an entire flu season from last year. by the way, he said you get your flu every year? i'm going to come on this show as usual and say i tell you to get your flu every year. stuart: you do. >> you turn me down, this year it's a good match. i almost brought one. stuart: okay i'm going to change the subject while i'm still doing all right here. this is a subject close to my own heart. research shows there's a new blood test and it can detect the proteins associated with alzheimers years before real symptoms emerge. is this blood test available now can i get it? >> no, and you always ask me that. it's in research coming out of the university of washington. they looked at autopsy studies but they found 53 people that

had alzheimers 52 had this protein, abnormal folded protein and here is what's unusual about this and wonderful they found it in advance. they are able to use it to find it in advance so they found it in people who hadn't yet had alzheimers in their blood before they ever developed the disease. that's the future of this , so you're going to be able to say, hey, you have this protein forming, you may be on the road to alzheimers. is there a treatment and they've changed what they think is good treatment now and you're going to be talking about this to anti -inflammatories. the brain gets inflamed and then the proteins build up so the proteins are a marker of a brain that's getting clogged up. now you don't have this problem. you are never going to have this problem. you are the smartest person at your age that i have ever seen. lauren: at your age. stuart: at your age. >> you're smarter than me and i'm younger than how. how's that? stuart: all true. that was quite an exchange there , doctor. >> [laughter] stuart: it was great having you on the show again. you may be back if you aren't careful. lauren: i might need your help. stuart: we've got a new report

this is for you. a new report shows young people maybe ditching alcohol in favor of a new vice, and i know exactly what that is. lauren: smoking marijuana. okay, looking at 20 greer years of research and they found 60% of marijuana users are drinking less alcohol and it's mostly young people that seem to prefer pot over booze. it's sort of picking your vice, right? but it goes against other surveys that seem to link an increased use of cannabis with increased use of alcohol and that might not be the case especially among younger people. stuart: okay. lauren: which is worse? stuart: doc siegel is staying very quiet. >> i think the marijuana has gotten so potent especially in people prone to problems that it's worse. it's even worse than alcohol. stuart: okay. we'll leave it at that. thank you very much now check futures one more time with seven and a half minutes to go before the market opens. again very little price movement dow down 30 nasdaq up 8. we'll be back.

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stuart: okay, quick check of futures not that much price movement so far. david bahnsen joins us this morning. all right, david, i'm sure you've seen the news.

taiwan semiconductor tripling its investment in chip manufacturing in america, spending 40 billion. president biden's going to arizona to push this plan. my question to you is, david, does this help intel? i know you've liked intel as a stock before. >> i do think it does, and i think intel's own efforts in domestic manufacturing are going to end up paying off for intel down the line as well. what this does is just facilitate this idea of america once again being a hub of manufacturing. intel's doing such in ohio and arizona. what taiwan semiconductor is doing is trying to bring pretty sophisticated chip manufacturing people like apple and nvidia are going to be the customers but i think it helps the whole ecosystem and intel will be a big beneficiary. stuart: i know you like blackstone. i remember you recommended blackstone to me a couple years ago. i bought it, did very well with it. i think you still like it, even though that stock has come under a lot of pressure just recently.

>> yeah, so about five weeks ago it was at 80 and then four weeks ago it was at 107 so it had been way down and popped way higher. now its come back down in the low 80s so there's a lot of volatility in the name. it's an asset manager. they buy real estate, credit, private equity. they are the biggest and best in the world at that by the way, but of course, is interest rate sensitive there's borrowed involved so higher rates are a factor, but you know, the dividend yield right now is over 6%. they've grown the dividend every year they have been public, and right now, at this price level, i think the markets really misunderstanding what's gone on with their huge real estate fund , which has done fantastic and yet, people are worried that oh, they're going to start pulling money out of that. well, i hope some people pull money out. i like the idea of this investment growing cash flow every year, which is what it continues to do, so blackstone has just come back on

sale a little bit and i can't recommend it enough, stuart. stuart: at $81 a share, it yield s 6% as a dividend. is that dividend absolutely definitely secure? >> yes. there's no question that they have been one of the most faithful dividend payers and growers and they have free cash flow because it's not their money going in these investments they get fees from management and then they get incentive fees on top. the answer is yes. that dividend is secure and it will grow from here. stuart: well thank you very much for recommending it a couple of years ago. you have helped put my grandchildren through college. we owe you. david bahnsen, great stuff, thank you very much for being with us. i know we'll see you again soon. look forward to it. >> [opening bell ringing] stuart: they are clapping and cheering and what five seconds to go. i have to tap dance for five seconds and then we'll see the early going. not expecting that much price movement. futures indicated a small loss for the dow. all right it's open with a small

loss down 10, there you go. we've got some of the dow 30 have opened already, kind of not all of them are open yet but i see some winners out on the board. the s&p 500 where is that in the first seconds of business? down a tiny fraction and the nasdaq composite same story, down a tiny fraction. big tech we always show you these because that's where the money is. apple, microsoft, alphabet on the upside, just amazon, meta on the downside. meta is losing 1.8%. start with microsoft, because, susan is joining us, good morning. they are raising the price of their xbox games. >> we're starting microsoft just purely for you. stuart: this is very important. >> so we're talking about inflation impact and we're talking about $70 a year now for these new xbox games starting next year and that's up from $60 which is going to impact, of course stu plays these next generation games like star field, red fall, and motorsports i'm sure you've heard of these titles.

stuart: all the time. >> so microsoft they stuck with the $60 price tag for nearly two decades now but i think if you're dealing with 40-year high inflation, slowing growth even if you have $15 billion on the balance sheet, you need to make more money off your products and that includes games i do want to point out that microsoft offered sony a 10-year deal to make each new call of duty release which you also play as well, the gamer in you, that will be available on sony's playstation and the xbox at the same time, which you know is kind of an olive branch to the government to say, you know, we're not too dominant in gaming so yes we can buy activision blizzard for $69 billion and we saw that yesterday with the ftc likely to prove this if we have the split amongst the group. stuart: that call of duty game, when it first came out, didn't it sell like a billion dollars worth of games? in a week? >> games are bigger than movies and music combined and you saw that during the covid lockdown boom as well, so yes, these titles are worth billions of dollars and they make hundreds

of millions of dollars in their release if not close to a billion for just the first year out. stuart: now, here is a story which i hope you can make me or allow me to understand. meta. formerly known as facebook, can which is under fire for their cross check system for vip. >> so i'll give you an example. you watched the brazil game yesterday where they south south korea 4-1. one of the scores of course was brazilian soccer star namar, and he's one example cited in this , and that there are different rules for the rich and famous which needs to change according to meta's own oversight board, so what namar did last year is posted a video of an ex- girlfriend and some saw that as revenge porn, meaning that video stayed up more than a day, 50 million views, finally taken down but the oversight board says we want more transparency in this decision-making when it comes to celebrity accounts. why are some like most people be suspended if you aren't namar for that type of

behavior but namar didn't have his account suspended. in fact he was given a meta deal , just a few months afterwards as well so another point by the way i want to make on meta is they are threatening to cutoff all news content if congress approves that journalism competition and preservation about which allows therapeutic to negotiate pricing and terms and conditions but meta is down about 63% and with ad-supported businesses it's tough going in a slowing growth environment. stuart: who would have thought susan li would bring the world cup and namar into a story about meta and facebook. >> not a positive story though. stuart: but you got it in. lauren: you're very good with sports coverage i will say. >> i do love sports. stuart: who have you got for the world cup? >> wow, okay, so -- lauren: you said germany the first time. >> i did because you can never bet against germany but i think we have better things to talk about during the market open. stuart: you're not going to tell us? i'm not moving forward until you tell me. >> okay, um, i'll go with brazil because they just won yesterday. stuart: not england? >> no. stuart: okay i'll move on.

>> i think historical context says you don't really bet on england in the world cup. they haven't won a world cup since when? stuart: 1966. >> exactly you do the math on that. stuart: which i watched as a teenager by the way. let's get to pepsi. job cuts. >> yes, pretty bad. we're talking about hundreds of jobs, but pepsi does employ around 300,000 around the world but think of the numerous companies announced layoffs so talking about meta with 11,000, amazon has 10,000 cuts, tesla is a thousand, twitter is around half of their workforce, snap, et cetera, so the journal is reporting the beverage unit is expected to be hit harder than other sectors of pepsi, so the beverage business. not the food, frito lays, et cetera, chicago, texas, new york offices see the most job cuts. stuart: how about coca cola? >> they are cutting as well through a voluntary buyout program. this morning did you watch that jamie dimon interview because he says inflation will erode consumer wealth and we could and this is the part that really confused me because he really hedged it. he says we could see a mild-to-

hard recession next year so that's a pretty big range, right? i mean you could see a lot. stuart: he also said that crypto was a side show. >> and yeah, crypto tokens are a pet rock. stuart: now you don't remember pet rocks? >> um, well, you know actually pet rocks was an nft that sold for millions of dollars which is the whole over-valued conversation. stuart: put in my place again, all right let's go to autozone, because they reported earlier this morning and up 2.5%. >> okay so you can interject on this because are you upgrading your new car because most people in this environment with higher new vehicle prices, they are going to fix their old cars instead, so autozone is doing well. they had a fantastic summer beating on the top and bottom lines. larger than expected rise when it comes to comparable store sales, and they are buying back 390,000 of their stocks so taking out half the float which is impressive. stuart: it's a big deal so some people would upgrade the car they've got now, because -- >> they would fix it instead of

buying the new one because the new one cost more and there aren't that many in-stock so that's a problem. stuart: how about signet jewelers? >> better profit, it was double estimates sales beating as well, same-store sales dropping but actually it was a much better summer than anticipated because people are buying their loved ones some jewelry. or themselves. treat yourself as i say. stuart: treat yourself well. good stuff. >> thank you. stuart: and pity about the world cup. >> i'm rooting for england. i just don't bet on them. i am rooting for them. stuart: did you actually bet on them? >> no i said i don't bet on them but i'm rooting for them because of you. stuart: okay, thank you very much, susan. coming up the ceo of apple tim cook ignored our own hillary vaughn's questions onlinea >> do you support the chinese people's right to protest? do you think it's problematic to do business with the communist chinese party when they suppress human rights? stuart: okay, folks it went on from there. take a look at this op-ed.

tim cook's bad day on china. bill mcgurn wrote it and he's on the show to talk about apple's silence. georgia voters heading to the polls already. it's a runoff election between senator raphael warnock and herschel walker, but is this a race, actually, all about trump? that will be my take, at the top of the 10:00 hour. ♪ yeah i've got my game on, better hang on tight ♪ thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading.

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there is no obligation, so call the number on your screen right now to see if your doctor is in our network; to find out if you could save on your prescriptions, and to get our free decision guide. humana, a more human way to healthcare. stuart: all right we got 11 minutes worth of business under our belt this morning. the dow is up 3, the nasdaq is down 42. as i said, not much price movement. listen to this one. the irs sent out a warning reminding taxpayers that they are watching all transactions over 600 bucks. this is for this year's tax system isn't it? lauren: use cash, people. use cash. okay, it's for this year's tax.

well listen, so the limit is now $600. that's down from 20,000. 20,000 to 600 so if you use venmo, cash app, paypal, facebook marketplace you must report transactions of $600 or more received through those payment apps. so let's say you clean out your garage and you have a garage sale and you sell stuff for 700 bucks, and you're paid for it through an app. the governments going to know. they will know about your garage sale. you need to keep proof of what you paid for an item, proof of what you sold it for. it's a ton of paperwork, it targets everybody because let's face it, $600 is nothing and it's one way that the 87,000 new user agents coming after people who make under $400,000 a year. stuart: this garage sale, you sell stuff at a lower price than what you bought it for so you are taking a loss. lauren: but you need the paperwork to prove it. stuart: the irs will say that the 600 or 700 bucks that you got from whoever gave you that

money, that's income. you've got to prove that it's not income. lauren: yes. stuart: can you imagine doing that? lauren: paperwork, exactly. this is why they have tens of thousands or hiring new irs agents. stuart: do you know what we need lauren: economist? stuart: who knows what he's talking about and we found one there he is. he doesn't know he's on yet but larry kudlow is with us. larry? this $600 threshold, it tells me they're really going after small business. that's the target isn't it? larry: yes, of course it is. they hate small business. they hate medium business. they hate large business. the whole things a pain in the ass, let's face it. i meant pain in the keester, i'm sorry i don't want to upset your family audience. i mean, remember when the 87,000 agents were put in for what, $80 billion the bidens said this wouldn't effect anybody

making less than $400,000 a year well, of course it is. this is just another little nuisance thing down from 20,000, by the way. that's a big decline, 20,000 to $600. who do you think you're going to pick-up? you're going to pick-up small transactions, garage transactions, small business owners, it's a lot of paperwork, sure it's a lot of red tape. the whole thing is utter nonsense. it ought to be completely repeal ed and the trump tax cuts should be made permanent so we could have some supply side growth and stop the fed from destroying the whole economy during christmastime. the fed is the grinch that stole christmas. it needs supply side help, but not this way. this is terrible. stuart: yeah, i needed a table pounder and we got one, larry kudlow. question, serious question. is it too late to stop this? because there's still a lame- duck session in congress. larry: well, it's not going to be stopped in the lame-duck, because that's still democrats.

it will be interesting though. the republican house wants to go after the irs as one of their early targets, okay? so, if they can put together a budget, a real budget, not a back room with four people, you know, in a smoky room, if they can have a real budget with real budget order, they could defund the irs through the appropriations process unless and until the irs takes this nonsense back. they could do that. now, it probably wouldn't survive the senate and it wouldn't survive a biden presidential veto but they would make a key point and i think titan be a very popular point, so it be good economics and it be good politics, so yeah. the house could do it after january 3 as long as they stop

some crazy omnibus spending bill that's the biggest issue in front of them. do a cr. don't do an omnibus bill. do it in full public view, with hearings, 12 appropriation bills , with witnesses. let the public taxpayers see what's going on here and then wait until next year. wait until january 3. stuart: quick question, larry. i know that you've got re-election benjamin netanyahu on your program this afternoon at 4:00 eastern. what are you going to talk to mr. netanyahu about? >> well, we will have plenty to talk about but it turns out this is the fifth anniversary today of moving the embassy to jerusalem. u.s. embassy to jerusalem, put in place bout that. we'll talk about the dangers of iran. we'll talk about the importance. i interviewed prime minister netanyahu on the radio this

weekend. he's a fascinating guy. a brilliant guy. i've known him a long time. i can't wait to see him on tv today. stuart: he's a very great speaker in my opinion too. larry thanks for being with us this morning and we'll be watching you this afternoon 4:00 p.m. eastern fox business. next case, gen z folks, people 25 and under, heading home for the holidays. for the majority though, traveling will not cost a dime. how come? lauren: because their mom and dad are paying. stuart: oh, a majority of kids going home from college mom and dad pay? lauren: about half of gen z says we're going to travel home for christmas and hanukkah. 41% are going to rely on their family to cover the cost of that that's from credit karma, and if their parents can't afford it they aren't going to try to make it work. they are just going to stay home , their home, not go home to see their parents so outside of christmas, half of parents with an adult child give them financial support to the tune of roughly $1,000 a month. stuart: what? lauren: yes. stuart: an adult child?

lauren: 18-plus. and even with that help, one in three young workers have not saved a dime for their retirement over the past two years. obviously, that costs you hundreds of thousands of dollars in lost retirement savings that you could have compounded. that's inflation, right? because 23% of millennials who are older than gen z haven't saved for retirement in the past two years. stuart: you're substantially younger than i am. lauren: yes, but not gen z or millennial, but yes younger than you. stuart: do you approve of mom and dad paying, not for you, but for , you know, youngsters travel expenses and a thousand a month? lauren: if mom and dad can, and the child needs it, sure. but if mom and dad are struggling, not really. stuart: what about the work ethic of the child? lauren: well there's different ways of paying for things, right if you're a young child, if they have a job and is doing the right thing and you want to help out here and there, enabl ing them to save by maybe paying for a flight or perhaps a house, you know? that's good. stuart: so if the kid has a work

ethic and you've got it -- lauren: and your kid is on the right track and you can do it, why not? i hope i'm able to do that one-day and honestly, thank you, mom and dad, for doing it for me much appreciated. stuart: i wonder if my children will have anything to say. thank you, lauren coming up former president trump insists he doesn't want to " terminate the constitution" but here is the damage done with all of these comments he keeps making. brian kilmeade takes that on. you ever wondered what it was like to be the queen of country music living on the road? now you can live just like dolly parton but it'll cost you. she turned her glittery tour bus into the ultimate tennessee hotel suite. we're going to check it out for you, after this. ♪ jolene, i'm begging of you, please, don't take my man ♪

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you, $10000 for two nights but is an epic two of us and she to the last 15 years and everything is an selected painted by her and her friends and her sisters, 10000 big price tag biggest to a good cause and he goes library started by dolly, and ages zero three - five to encourage the reading and if you're making dolly fan, you know when an opportunity this is because she is not like the flight to stay in hotels of this was her away since for the last 15 years, and a lot of dolly magic happen right here on this bus and take a listen. >> this was dolly's innermost sanctuary, where she wrote all kinds of songs, including you know, some of her biggest hits, her backwards barbie album was written on this and she's written tv shows and this bus and she's written movies on this bus, soundtracks. >> all right if there is any doubt that this is anything other than a dolly parton's tour was on a show you some of the evidence here, obviously from be

giving out some of the iconic dolly wakes on display and you have her in the summer she stays and were you would stay if you want to fork over that $10000 on and with one really cool as we saw in a traditional tour bus you have bunkbeds outside and some of the group in the entourage with state and all he did not have a lot of people traveling with her so she has a bunkbed and one-sided of the other side, she converted what would've been the bunkbeds, tour because i tend mean boroughs are you going to store all of her incredible costumes and outfits. the luckily are unlikely, deepening on how you look at it stuart for $10000 colleges not come with the bus that is good is because means that you don't have to savior, you get to stay in the big bed and enjoyed all of that dollywood and dolly parton's tour bus has to offer stuart. stuart: i have no for the commitment that was very interesting in medicine, thank you very much and see you later. you better check the markets, around 10:00 o'clock right now we've got the downtown 60 and nasdaq down 93 and here is what

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