tv Varney Company FOX Business January 10, 2023 10:00am-11:00am EST
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stuart: a mellow song first 3 playing. it has to do with romance rather than going back and doing remote work. it is 10:00 eastern to the money. i see green, 50 points up for the dow, 29 points up for the nasdaq, 10 year treasury yield, where is that this morning, it is at 3. 56. slightly higher, the price of oil $70 a barrel and bitcoin above $17,000 a coin and it stayed there for a couple days. now this. your boss wants you back in the office and not taking no for an answer. push has come to shove. it's not going to be popular. a few hours ago disney's robert iger announced he wants everyone back four days a week starting march 1st. elon musk ordered twitter staffers back to the office, at least 40 hours we, tesla, snap,
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uber, all cracked on remote work so big banks and financial service companies, these employers say office work promotes creativity, productivity and there is a recession coming and the boss may be able to pick and choose employers willing according to their willingness to start commuting again. they have some power here but there's going to be serious pushback. working from home can save you money, no commuting cost, might save money on childcare. your hours are more flexible, you don't have to mingle with coworkers you may or may not like and there's more time to do your own thing, you're not wasting hours in your car, the bus or your train, that's quality-of-life, pushing back to the office, some will leave. career service companies data surveyed 1000 workers and found 60% were willing to quit if forced to return to the office 5 days a week. the pandemic forced people into remote work, a lot of people loved it and want to stick with
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it. it is not a new workers right but a worker preference and employers are going to have to deal with it. remote work is not going away. second hour of varney just getting started. the cow jacket guys back on the right-hand side of the screen. scott shelladd a mac. i think remote work is here to stay and not much you can do about it. what say you? >> it might be right. i don't like the idea but you might be right. that doesn't mean it has to be in the us. to those who don't want to come to work, there might be somebody that can do your job for 25% of the cost of your job in another country, they don't have to show up in new york for the job, they can do it from india or another country so be careful how much you dig your
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heels in the sand about going back to work because they might find a much cheaper alternative. working from a faraway place might not change but might change what country you're in. stuart: that's true, never thought of that but where were you when i was writing that it oriole, that was a good one. >> was one of those articles be careful what you wish for because they are already starting to do that. i'm not reinventing the wheel, this is happening. stuart: jpmorgan, the ceo, jamie nyman talking about companies shutting down lenders based on politics, don't like it. >> you are not going to shut down lending to these companies that may not be the narrative of the democratic party. >> we will decide for ourselves what the risk is, whether we want to do it or it makes sense. might not be that you agree with or democrats agree with it.
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stuart: let me interpret that. he will lend to whoever he pleases, not going along with this esg environmental social governance. i think you are in favor of that. >> i am. i gave a speech in the middle of kansas last summer. a few bankers said they gained a lot of business in texas from banks that stopped lending to big oil fossil fuel companies. that is happening. that is an issue but great to hear jamie diamond say if you are not breaking the law and are a viable business they will lend to you and that is fair, that's the american way but to have politics sneaking or social consequences sneak in to who your lending money to i don't think there's a place for that. stuart: the environmentalists are getting into every aspect of life. shortly in the next hour on this program we will bring the
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story of the government considering banning gas stouffers. the bottom line is because gas stoves use natural gas, our fossil fuel, thinking about banning it. is there any end to this? >> that's a great question. just had a meeting i got out of talking about where is the end to this? they have taken away or fossil fuel, trying to take away your fossil fuel combustion eating engine without having a bone on it so they are going to get rid of your cattle, look what is happening in holland with esg and methane and now going after how you cook, where does it stop? over the pandemic a lot of these leaders realized how easy it was to control some of this power and there's probably not going to be a end to this until people get fed up because i think we have two generations of kids that have come up and there are too compliant, not a
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lot of pushback you saw on the kings road in london with a 1960s here in the states, we don't have that, no questioning. we have to get that age group questioning everything, not believing it because that is how sandbankman-fried happens, nobody question. stuart: what is with these youngsters? kids. thanks, see you soon. to the market, i see some green on the big indicators but i see boeing moving down 1%. >> morgan stanley cuts them because of the week recent rally since the end of september boeing shares up 72% so they realized a lot of gains thus far and at the same time downgrade the company, let the price target to 220. stuart: it dropped below one hundred a share a couple years ago. it is now 206.
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illumina. lauren: they lower their profit forecast for the year by 50%. stuart: that would be a booming business, genetic sequencing. lauren: used by law enforcement, that's how they track the killer in idaho. stuart: big time. oak street health, healthcare services. stuart: lauren: look at the stock go up 28%. report that cvs health is in talks to buy and further expand, to signify for $8 million, this would make sense. stuart: we've been talking about quiet quitting trend. but you have discovered one particular group which is quiet quitting more than anybody else. lauren: i've discovered along with researchers at washington university, you're off the hook, it is younger men age 25
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to 39, they work 16 hours less annually between 2019 and last year, 16 hours less compared to overall workers logging 11 fewer hours so how many hours do we worker year? 1800. that is more than most countries including the uk. stuart: the quiet quitters -- lauren: young educated men. stuart: that is fascinating, young educated men. stuart: we are talking remote work. if someone's not breathing down your back or walking by, you have more freedom to work less and do what you want to do especially if you are not in the office, my brother just got a job at a big bank out west, he went into the office to pick up some papers, he said he thinks the person that came in to give him what he needed the first day they were in the office in ages, nobody was there. what did he do a couple days ago on his lunch break, took down his christmas tree.
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come on. stuart: thanks. lauren: he's going to be mad at me now. stuart: i want you to look at this headline. it says maccarthy's battle for the speakership proved one thing, our democracy is alive and well. david bossi wrote that and david joins me now. i agree with you. democracy is alive and well but is it going to be effective when you've got a house majority of four or five republicans and the republicans are divided? we've got democracy, can it be effective? can you get anything done? >> absolutely and you're going to see that literally starting today with this vote to defund the 87,000 irs agents that were totally unnecessary and put in place by the democrats when they were in control. we are going to see an
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aggressive agenda by the conservative majority in the house of representatives and it is going to be great for america. we are going to get our fiscal house in order finally. stuart: but you've got to get the moderates on board as well and are plenty of moderns in the house, they've got to agree. stuart: the moderates in the house were not arguing against the rules changes, they were not arguing against single issue bills. you can't just add on the national defense authorization act to a covid bill. you are not going to have any more of these omnibus massive monstrosities. this election of a speaker happen two weeks after nancy pelosi's last 4,000 page omnibus that was dropped in the middle of the night and spend $1.7 trillion that was unfunded going on tour 30 one trillion dollar debt. it is unsustainable, and what
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republicans decided was enough is enough, we have to get the rules of the house and that is why it was messy for couple days. that is what our founding fathers wanted, what they demanded. these 20 courageous numbers of congress stood tall against everyone, the mainstream media, democrats and even some in their own party that got frustrated with them. we owe them all, scott perry and chip roy and andy harris and the rest of them, it was an unbelievable thing to see. it has never been done and now america is on the right track. stuart: okay, you got it done, now let's see of fictive results and we are waiting to see, thanks for being with us, see you soon. new research shows the new congress is the most racially diverse of lawmakers to date. lauren: 12:4550 of the -- identify as nonwhite. the most ever.
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60 are black, 54 hispanic, 18 asian american, five american indian and alaska native, that according to pew research. 80% of them are democrats. there's also a record number of women, they hold 20% of the seats. stuart: thank you. democrat stacy abrams refusing to accept defeat. she last two bids for the governorship of georgia but the failed candidates is she will, quote, likely run for office again. that story coming up for you. house republicans plan to go after the biden administration for weapon icing federal agencies against everyday americans. some democrats say the gop is trying to vilify agencies for political gain. details on that for you as well. republicans made good on a key 2022 campaign promise, they just voted to cut $71 billion in irs funding, and set aside the hiring of 87,000 new agents.
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stuart: the dow is up one hundred 47 points. the nasdaq is up 85 points. house republicans planning to pull back the curtain on biden, quote, weaponization of the federal government. what is that all about? what do they intend to do? lauren: they want to form a subcommittee on weaponization of the federal government headed by judiciary chair jim jordan to investigate how the white house uses the government, namely doj, fbi to
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target every day americans. they are looking to find years worth of federal government overreach to restore government accountability. democrats obviously see it differently. this from abigail sandberg who says republicans are trying to vilify federal agencies for political gain. stuart: they will look at weaponization using the fbi and the doj against ordinary americans. go at it please. the house just passed a new rules package for congress, the first major test for speaker mccarthy. congresswoman katcammack, these rules give the far right a great deal of power. are you comfortable with that? >> as a member of the right i would think people want to have more say at the table. i am very comfortable with the rules package because it is the same rules package we had on
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january 1st with the small change of a motion to vacate down to a single member. as of january 5th the. there was only one change to the rules package despite all of the theatrics of last week, that was the only thing that changed. i know there has been a lot of talk and conjecture and rhetoric but at the end of the day it is the same rules package we as members of the republican conference debated three times over and accepted. stuart: how can you get anything done if all it takes is one gop house member to stand up and say vacate the chair, there would have to be a vote on it, hold things up a lot. that is almost tumultuous. i don't see how you get things done. >> people want to get things done on behalf of their constituents, right the ship for the american people. if someone wants to stand up and say you are doing a bad job and i will do a motion to vacate they have to convince 217 additional members to go
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along with them and that is a tough task so i think you are going to have a lot of family discussions going on but at the end of the day just like last night, we fired 87,000 irs agents, this week we will take back the political piggy bank the biden administration has turned the strategic petroleum reserve into, we are going to do the work the american people care about and put the campaign rhetoric to the side and do what is best for america. stuart: i am all with you, would love to see you fire 87,000 irs agents but that decision you made yesterday is going to be reversed in the senate. it is not going to go anywhere. >> this is where we have to stand strong and play hardball with the senate. it goes both ways, they can ram a bunch of things down our throat like we can't to them so there has to be some give and take and that's the beauty of the system that was envisioned by our founding fathers. we are writing the ship and it took some theatrics, took some uncomfortable conversations but i think you are going to see a
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new attitude in congress especially out of the house really pushing back and playing hardball with the democratic senate the, that is what is going to take the right the ship because as it stands right now half of america feel silenced, they feel like their viewpoints aren't being heard and now we have the republican majority in the house, the people's house to fight back. stuart: back to the idea of what you are comfortable with, three of this we 9 seats of the rules committee go to the freedom caucus. the freedom caucus is a very small minority within the republicans in the house. are you comfortable with a small minority having that kind of power? >> when you think about the freedom caucus as a whole there are 44, 25 members of the freedom caucus. over half of the freedom caucus was with kevin mccarthy from the beginning of last week's vote. this agreement, this handshake that has taken place, it is separate from the rules package, it doesn't dictate who
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from the freedom caucus will be on the rules committee. it says there will be representation from the freedom caucus. it is anyone's guess who's that going to be and that remains to be seen. stuart: you are thoroughly united behind speaker mccarthy? >> we are. stuart: congresswoman kat cammack, thank you for being with us this morning. i want to look at stacy abrams. she lost the georgia governors race two times in a row. ashley webster, good morning, is she going for 1/3 time? ashley: third time lucky, right? as the saying goes. abrams says she will likely run for office again but didn't specify for which position. is she is on drew barrymore's daytime tv shows. >> i will likely run again, if at first you don't succeed, try try again and if it doesn't work you try again. ashley: not giving up.
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abrams lost her second bid for georgia governor to incumbent republican governor brian kemp by 8 points about she is seen as a fundraising giant in the democratic party, she raised one hundred $13 million for her 2,022 campaign and built two of the largest voting rights organizations in the state. but the latest filings show abrams campaign now has one. $4 million in debt with the campaign manager blaming negative press and negative polling that made fundraising difficult in the final months of the gubernatorial race in georgia. ashley: 13 people dead as heavy rain causes extreme flooding in california. 90% of the state is under a flash flood warning. we have the latest developer's from the golden state. a former drug addict turned activist says bus stops in san francisco are being hijacked by drug dealers and drug users, democrat policies are failing
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the state, he joins us next. (fisher investments) it's easy to think that all money managers are pretty much the same, but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when our clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different.
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before "the opening bell," stocks were mostly lower, then we heard from fed chair jay powell, speaking in stockholm, sweden, who said the fed will not be a climate policymaker. investors like that, market turned around and we turned up. there are some movers, warner bros. is moving 4.5%. lauren: bank of america research adding warner bros. discovery to their number one list. they say the direct to consumer losses we saw last year have peaked so things are getting better. blue one back to bumble where the lady makes the first move. lauren: they see sustained 20 plus% annual revenue growth. they are looking at credit and debit card data. folks are paying today. they say stocks --
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stuart: with all those men being quiet quitters. lauren: they have time on their hands, time to let a woman make a first move so they can be even lazier. i don't really mean anything, i really don't. i'm not insulting men. i'm quite fond of them. stuart: 10:29, lauren simonetti said the following. cruise lines. lauren: cruise lines are moving, royal caribbean up to prison, norwegian down one. 5%. the reason is morgan stanley upgraded royal, downgraded norwegian. they are concerned about norwegian after debt level, royal caribbean is their pick, aaa does the survey and covid, half of consumers say we are more likely than we were pre-covid to take a cruise right now. we will see what we do. stuart: do you remember after the pandemic, talking about the cruise lines? lauren: at one time it was risky to book a cruise because
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you didn't know what the restrictions were going to be because they were ever-changing. stuart: there are no restrictions now that i know of. lauren: it's not a big deal anymore. stuart: next case. a new study of moving companies shows states people are leaving the most are run by democrats. madison -- madison alworth is that a moving company. they are moving out of new york where you are now so where are they going? >> reporter: they are moving to states that are more tax and business friendly. the number one state is texas. number 2 is florida. these are the states that saw the most 1-way moves indicating people permanently moved to these new places. these are already states. this trend started during the pandemic but is still going strong. the coastal blue states like here in new york are fueling those migrations.
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new york has one of the highest rates of people moving out rather than moving in. 38% of people moving into the state, 60% of new yorkers leaving the state behind. imperial movers in new york are seeing the same thing. 90% of out-of-state moves, 90% are to florida. we spoke to some x new yorkers and ask california about why they moved and how they feel about the decision now. >> it was unlivable socially and unlivable publicly. became a 1-party state. which is ridiculous. in a democracy. it became a really unpleasant for me and for my family. >> more and more new yorkers are changing their mind and coming here. i just hope the ones the change their mind don't come here and try to change florida because i love florida the way it is.
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lauren: simon was originally from france and his first home was new york but as you can tell he loves florida. he is also a business owner which is another troubling part of this. he not only moved out of the state but moved his business out of the state which is not good for new york tax revenue. is a double whammy when you lose residents and business owners. stuart: the money is heading south. next guest is a former drug addict turned activist living in san francisco. he says bus stops of all places are being hijacked by drug dealers and drug users. ricky, i want you to take me through it. what is it like? you live in downtown san francisco. what is it like when you walk outside your house? what do you see? >> reporter: when i walk outside my house, i see an unhealthy ecosystem filled with drug dealers, drug addicts, and
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city employees basically facilitate the drug use and clean up after the addicts like wet nurses. it is not a great place to reside mainly because of the policies the city put in place. you see small businesses shutting down like these, these are good places i used to eat breakfast at and basically they went under because of the environment. stuart: what is this about bus stops? why bus stops? >> the bus stops create a shelter for these individuals to see it, so they use their drugs and i am sandwiched in between, in my opinion, two of the biggest open-air drug market in san francisco which are 8 the mission and seventh emission next to the federal building. there are bus stops on each
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corner where the 14 mission runs and because of that, such a high-traffic area, these dealers have set up shop there and the fentanyl is so debilitating these addicts don't want to go too far from the dealer so -- stuart: what is the behavior like? are they aggressive? lying in the streets? what is the behavior? >> it is a mixed bag. if they are on methamphetamine they are going into a moment of psychosis where they are yelling obscenities and getting violent. if they are on fentanyl, most of the time they would be gouged out or nodding out as they follow a fentanyl fold, and it takes away a lot of their morals and standards. they are all over the place. they have their paraphernalia
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all around them whether it is biohazard waste lodz stuart: are you going to leave? >> am i going to leave? no. i can't give up on my city. i was born and raised here. i'm going to keep speaking out about it, keep speaking out until i get meaningful change. stuart: thanks for joining us. come back and see us if you see any change at all, we would love to hear from you. president biden just declared a state of emergency in california. storms, flooding battering the state. i believe more storms are expected. is that true? ashley: yes. the atmospheric river of moisture no sign of abating, the next round of torrential rain moving in later this week coming in sweeping off the pacific, successive winter storms have already caused extensive damage, flooding, claimed 13 lives, prompting the
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president to declare a state of emergency and 17 counties including los angeles, santa cruz, sacramento, all over the state. the never-ending parade of pacific storms knocked out power to thousands. it has flooded streets and battered the coastline with high surf. since december 26th, boxing day, san francisco has received more than 10 inches of rain while mammoth mountain, a popular ski area in the eastern sierra has gotten nearly 10 feet of snow and it is not stopping anytime soon. stuart: ten inches of rain. seattle school system is suing big tech. they want to social media platforms to pay up for poisoning children's brains and making it harder to teach. we have a report on that. the governor of new jersey signaled, signed a bill requiring students to learn media literacy to give them the
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stuart: jay powell said the fed will not be a climate policymaker in the market liked it and it went up on that news and now they've headed south, the dow was off 38 points. a lawsuit against big tech, they say platforms are worse than the youth mental health crisis. grady trimble, what is the district hoping to get out of this? >> reporter: they had to hire more mental health professionals to deal with an increase in anxiety, depression and eating disorders.
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in addition to other asks it wants the social media companies to pay for treatment for the problems those companies have caused. seattle public schools blame tiktok, instagram, facebook, youtube and snapchat for mental health and behavioral disorders and district students. here's a quote from this lawsuit, defendants have exploited the vulnerable brains of youth, hooking tens of millions of students into positive feedback loops of excessive use of social media. they curate indirect harmful and exploitation of. it goes on to say section 230 which protect social media companies from legal action over third-party contact doesn't apply here. the attorneys for the district allege the platforms themselves are recommending and promoting harmful content. the legal experts we have spoken to say all these
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allegations in the lawsuit may be true but it's too broad to hold up in court. >> almost akin to suing the internet for having information that is potentially damaging because that does exist and could be damaging but does that mean they are equally liable. that is a different story. >> reporter: here's part of meta's statement, quote, we've developed 30 tools to support kids and families. we don't allow content the promote suicide, self harm or eating disorders. the content we remove or take action on, we identify 99% of it before it is reported to us. a number of other social media companies send similar statements saying they care about the safety of users, especially young people, children, and teens. they have added new resources for people struggling with mental health problems, they have tools on their platforms like parental controls and screen time limits. all that being said a lot of
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parents agree social media is contributing to mental health. stuart: if they prove liability it would be monumental, that is the way it is. more states are banning tiktok on government devices. what is the latest on this? ashley: new jersey is the latest state to ban the use of tiktok. governor phil murphy says cyber security is critical to protecting the overall safety and welfare of the state. murphy says the tiktok band will ensure the confidentiality, integrity and safety of new jersey state government. ohio's republic governor banning the use of tiktok from government devices. the order bands any application or website owned by an entity in china from being used or downloaded on government devices in ohio.
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the list is growing. stuart: yes, it is. more from new jersey, schools in the garden state are teaching students how to fight misinformation. i live in new jersey. so do you. explain this? stuart: lauren: it is a first for kindergarten through 12th graders. kids in kindergarten can't even read but they are being taught how to decipher fact from fiction online. governor phil murphy signing a bill to help students determine who and what is credible and what is not. sounds good because we are on social media, constantly hit with different sources of information, different information. it was who was in charge of this? school libraries, media specialists and teachers are developing the standards. they are going to teach children how to think and how to evaluate different sources of information. stuart: i wonder what they will think of me and fox news. lauren: a public comment period.
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stuart: in another interview prince harry responds to claims that he sold out his family by making money from that private school, roll it. >> critics will say are taking private struggle since making money off of it almost as if you sold out your family. >> a way to correct those is by writing something, the truth. stuart: brian kilmeade fired up about that one. brian is next. ♪ it's getting a discount on your trip, plus points for your future travels. so you can think about the next trip. and the next trip and the next next trip. so wherever you go,
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money. watch this. >> critics will say you take private struggles, you're getting paid for it, almost as if you sold out your family. >> anyway i can correct those mistruths, by writing something, the truth coming in one place and writing a book is feeding the beast anyway. stuart: i have had enough of this. it is absolute nonsense. how about you? brian: his explanation was awful, as if he didn't paris think it. i don't like when people say he is done. i think he made a bad move. i laugh about when people like katie couric they write these tell all books that make people look terrible because they want to sell books and then think what about the next day, 6 months from now when it is off the bestseller list, what is left of your life? a lot of these things, i will say to his credit, i don't think megan put him up to this.
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everyone who follows the royals says megan changed him, not rallied. he has issues with his mother dying, people can understand that. in a royal family, obviously, it was tough growing up. i understand that. that is an interesting part. people who lost a parent, i can relate to. but to tell these other stories, stabbing in the back, william and other things. i feel i want to take a shower. even though it is interesting when famous people talk, i'm not someone who goes to the gossip column, who reads people magazine or the each channel to get something about somebody else's life i have no business knowing. the other thing about harry, i don't think he can keep blaming his wife. to walk back to racial charges not only does he say the family is racially insensitive, so is the press, the british -- you really express the press to be
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basically have racist tendencies or racist things, that is something that goes beyond alienation and the last thing i would say is in the big picture, don't expect ever to be invited back and to think you can go back to the coronation of who could be his dad, the king, he indicates his dad is said -- i don't even know if i am your father. if he thinks he's going back for that, it is done. hope he has enough money. i don't know what he does. he alienated the military by saying how many kills his unit has which goes against anything that anyone who fights says. stuart: he burned all his boats and i had enough. i am going to move on. brian: you did ask me. stuart: i know you are fired up about it. college football, georgia dominated tcu, national championship game, 65-7. i don't follow college
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football. are you telling the georgia bulldogs are the best college team in the land bar none? brian: yes, no one would argue with that. a team going for 40 points against michigan actually fall on its face like that, the answer is obviously yes. to do it back to back is unbelievable for 25-year-old walk on quarterback which is kind of unique. what is interesting is now the and il, in nebraska and oklahoma, they say i've got a deal with a local dealership. i have something to sponsor you, at ex-wife sporting-goods, to get you a deal with a major corporation and you get this in school, that is a selling point. nick sabin was working the pre-and post game show and it comes down to how many sponsors
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you get rather than the college atmosphere in history it brings. the game is changing. coaches are saying give labels and regulations. right now the ncaa has backed out. it is the wild west. i'm not sure that 17-year-olds, not saying they shouldn't have a degree or money, that is different debate. 17-year-olds are being treated like 22-year-old first-round draft picks but even they have a rookie. it is the wild west. you have one person making $7 million, he can work social media and has so many likenesses. the regulation doesn't have to be oppression. i like that you generated money for the network, i like that players got something but i don't want it to be the players with the biggest donors. stuart: heartbreak, heartbreak, here it comes. thanks a lot, see you again soon. still ahead, tennessee
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