tv Varney Company FOX Business January 13, 2023 10:00am-11:00am EST
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part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. ♪ secret agent man ♪ giving you a number ♪ and taking away your name ♪ stuart: secret agent man, tying it into the document scandal. good morning, everyone. it is 10:00, straight to the money, the markets are coming back, we were down 200 on the dow, now it it is 90 one, close to one hundred on the nasdaq, and out of 58. there is a little come back.
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the yield on the 10 year treasury is helping the market because it is down. all down to 3.44%. that is a low. big tech, they were all down, now we have a winner, amazon is up $0.48. the rest still down. bitcoin a winners this morning, up. we got the latest read on consumer sentiment. what have we got here? ashley: 64.6, the highest level since april up from 59.7 in december. to give a little context, the all-time low was 50 last year when gas prices were through the roof along with inflation. this, much stronger, the preliminary reading, better-than-expected. stuart: the number came out a minute ago. i don't see an immediate response on the market, still down a little on the dow, 50
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points, thanks very much indeed. now this. the president was on a roll, was on a roll, the midterms were nowhere near as bad for democrats as expected, inflation moderated and the republicans came to blows trying to elect the speaker. biden was buoyant but he is not now. he is in a political firestorm which will play out in the months ahead. with secret documents found at his home and office he is in the same boat as donald trump at mar-a-lago. who is irresponsible now? as investigations proceed there will be revelations and leaks. headlines will stretch on for months and could damage his agenda, even his run for reelection. i'm interested in china. what have they been up to? republican to investigate hunter and his father's business dealings with beijing at a special counsel will investigate the handling of the secret documents, also checking
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out hunter biden. he enlisted his dad's house and his residence as his residence in 2018, and 2019. that is where the documents were stored. he had access. the front page of the new york post looks like this. do they look secure? there is no -- the investigation had better find out if there is a chinese connection because those visitors have access to american secret documents. the suspicion is china has something on our president, they seem to get their way. who worthy anonymous buyers who forked out big bucks for hunter's artwork? who precisely worthy anonymous chinese donors who gave $30 million to the biden center and how come congressman eric swallwell who had a relationship with a chinese spy was still appointed to the house intelligence committee? we could clear the air with a full public accounting. until that happens, the
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suspicion will remain. what does china have on our president? second hour of varney just getting started. stuart: tammy bruce joins us as she does on friday mornings. do you think china has something on our president? >> you ask me that and i have to presume, look at the pieces. i have some experience. when we look at that we have to contemplate that. wise the government not doing this? why is this, for so long this has been going on. this is what americans have recognized. regular people, ordinary people can make connections but for some it can go too far and that is unfair to everyone where we have 2 in some way guess. all that you laid out in your
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points was perfect because there are so many obvious connections. there was a point press tried to get through a foia act, the list of visitors to biden's home because that is where he was operating from for so long. going back, 30% of the time, to that particular location and that is when the secret service says there's no list, we are not -- you have to wonder about his health condition. our doctors going? our international visitors going? are diplomats going? we have a right to know that. with that is what the president of the united states spends a lot of his time, who cares? now we see the pile of junk behind the corvette and that is what we are talking about. stuart: attorney general merrick garland appointed a special counsel to investigate the handling of these documents. the white house says they are confident the documents were just inadvertently placed to their. why was the trump home rated by
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the fbi and biden's wasn't? >> this is fascinating. many people are discussing it. in the 70s, presidential papers were considered personal property of the president. that changed within my lifetime and the lifetime of everyone watching. the president has broad powers as commander in chief, as president of the united states, to make a determination what is classified and what isn't. the vice president has no power even remotely approaching that. this is inherently more dangerous and more suspicious because barack obama might have had papers, donald trump would have papers, hillary clinton, did something even worse with creating the e-mail system, specifically to avoid this overlook. overarching response abilities as a candidate or raise a senator in the white house.
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this becomes even more serious and he has more than one home. we've not heard about the beach house. we know 1/3 stash but we don't know the volume, where, if it was in the same house and the argument about inadvertently misplaced, these clearly were separated, the biden penn center, his home, what was the determination about what ended up in the closet, what ended up in a garage or a library? ultimately, i said this to my radio audience, the first stories we hear from this administration are always wrong and so this is going to fold out even more and what we are going to find is they knew more and when biden was playing dumb about my lawyer said not to ask what was in the closet at the penn center, they already knew the second batch had been found in his home, that was discovered on december 20th so even then, when he was being sergeant schuetz, it is
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nothing, they already knew they had found things in his home and he knew it. craig: eventually you brought the fire and outrage. >> this is what is so shocking. one last thing about this and that -- he admitted with almost a laughing grin that they were in a box next to his bed so he knew, no one put them there for him. stuart: original thinking, under fire and outrage. the latest of the view seem to suggest biden's documents were planted. >> what are they saying? ashley: the very astute members of the view have come up with a genius theory on how those classified documents found their way into president biden's garage. that they were planted to divert attention from donald trump. take a listen.
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>> never seen a luckier person than donald trump. this close -- these documents appeared -- >> of stuff is missing, i know it is missing. >> does it feel like the republicans are behind it? ashley: just genius, isn't it? whoopi goldberg also said no one should be quick to judge until all the facts are known, you do it every day. she said at first she suspected republicans were behind it but not now. stuart: we keep going back to the view as the well of disinformation. ashley: the gift that keeps on giving. back to you later. now let's get to the markets. we still have some downside, dow is off 60, nasdaq down 40. down 200 on the dow. bank earnings kickoff, kenny polcari, what is your reaction?
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>> they are being on the top and bottom lines, but what i have been talking about, what are they doing about reserves, provision for the coming default? bank of america raised them. had to see what the others have done. i am sure they are all raising them. that tells us at least what the banks are thinking or how they are preparing, they continue to be a ball top economy and economy that went into recession. i am not surprised. nobody should be surprised. we have been talking about that for a number of weeks, one of the concerns is playing across as we get these reports. stuart: i got something from dan ives this morning, he points out 75 basis points, 50/50/50, we are talking about 25, 25, 25, that is a downtrend
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which implies we don't have much longer to go for the fed to keep raising rates. and that is bullish for big tech. what is your opinion on that? >> just because we've gone from 75, 50, to 25, they could keep going 252525 in the next 8 meetings, so there is no slowdown to the rate increases. no one said they would go 25, 25, and stop completely. they will go 3 moves to 25 and then pause and watch but my fear is we will see inflation kick its ugly head up in the late spring and fed will be forced to start raising rates by 25 basis points again in the summer. stuart: sorry to interrupt but why do you think inflation starts to pick up again in late spring? >> because the first 3% we took out, we are at a point where it will be difficult to take it. pull back the sheets and look underneath.
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services part of the cpi is going up. the us economy, 75% services economy. delta airlines, worried in their first quarter estimates, the pilots union will jam wage increases in benefits in that contract which will fuel the wage price spiral. i am curious how many companies are we going to hear are concerned about having to push up wages to beat inflation, that put us in the wage price spiral that i've been talking about from months. i'm concerned that is what we will see as we move through this. stuart: thanks for joining us, have a great weekend, see you soon. case before the supreme court challenges the liability shield used to protect companies like google and youtube. google's warning about this. what is the warning?
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ashley: they say without that protection, the internet could be upended. we are talking section 230 of the communications decency act. it keeps tech companies from being liable for the content people create on various sites and services. next month the supreme court will hear a case that challenges the protection. google argues without section 230, companies wouldn't just be liable for speech that isn't there is but other tech companies would be forced to be even more forceful in content moderation. google says it would quota dystopia where providers have legal pressure to censor any kind of controversial content. next month will be an interesting case in the supreme court. stuart: thanks. last year california had a $100 billion surplus and now governor gavin newsom is predicting a $22 billion deficit. what happened to the money?
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california guy steve hilton takes in on in the next hour. despite bipartisan support, squad member diana presley is opposing the new house committee on threats from china. she says the panel will put lives at risk. we are all over it. house speaker mccarthy says the fbi briefing on democrat punishment eric swallwell was so troubling you wouldn't want him on any committee. why did they keep them on the house intelligence committee? wisconsin congressman sean duffy will deal with it next. ♪ ♪
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neil: stuart: there are three special counsel investigations going on in washington. biden's classified documents, donald trump's classified documents, and investigation into the origins of the trump/russia narrative. david spunt, could all of this affect biden and trump's bids for 2024? >> reporter: the answer is sure, it could. out of the three, two special counsel's right now are investigating two presidents and they were appointed not even two months apart from each other. at the department of justice. the latest special counsel on the job since yesterday, he took those rains immediately on the biden classified documents investigation, those documents found the biden center in the wilmington, delaware residents.
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jack smith appointed november 18th, neck deep in roughly 100 classified documents found at donald trump's mar-a-lago estate and looking at his potential committal involvement in january 6th. a g garland has lived in a pressure cooker for the last 6 months, most recently with president biden in mexico. they sat together, spoke multiple times during the trip and a source insists to fox news the attorney general never spoke to president biden about this investigation and has no intention to. >> i believe the normal processes of this department can handle all investigations with integrity but under the regulations, extraordinary circumstances here, the appointment of a special counsel in this matter. >> reporter: another interesting fact, when garland announced jack smith to oversee the trump document investigation on november 18th, he already knew deep in his mind the current president, biden, his boss, had trouble
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looming over classified documents. don't forget john durham, the third special counsel that is active right now, working since 2019 trying to put pieces together on the trump russia narrative. durham got someone to plead guilty to falsifying a document in 2020 he last two cases, spent $7 million, just under $7 million in his investigation that touched five calendar years. durham is done with the investigation and is getting ready to prepare a final narrative report before he retires. stuart: it is an active justice department. congressman buck pressing the admin us ration to release the log of his delaware visitors. that is where the second trench of documents were found, in his garage, at his house. sean duffy is with me. the secret service conveniently says there is no log. i want to know who those visitors were, i want to know if there is a china connection. >> as do i.
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you have an administration that claimed they would be the utmost in transparency. the most transparent administration in the history, and the lack of transparency, we should be keeping logs, we do at the white house, we should do it at his residence especially because he spent so much time at home, out of the office. when you are doing business, let's have the transparency. you make a good point. if you have classified documents in his home, we have a right to know who was visiting, what access to the home did they have. but again, where you see a bit of a cover-up, there is no logs and we don't want to tell you who is visiting, that means people who come and see the president in delaware, they don't want to the american people to know about, don't want to expose, to see who comes to see the president because they would be embarrassed and shady
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characters. stuart: speaker mccarthy addressed his decision to take congressman adam schiff and eric swallwell off of the intelligence committee. >> let me phrase something very direct here. if you got the briefing i got from the fbi, we wouldn't have swallwell on any committee, he can't get a security clearance and the private-sector. would you like to give him a government clearance? you're going to tell me there's 200 other democrats but couldn't fill that slot but they kept him on it? the only way they knew it came forward is they nominated him to the committee, that just fertilized all of us. stuart: swallwell had a relationship with the chinese spy. my implication is china has influence. how come he was on the intelligence committee? >> the most intimate of physical relationships he had and not only the chinese spy
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had this relationship with the congressman but she was helping him staff up his office. she was bringing other individuals probably with chinese ties into his office, compromising the congressman. he has no place on that committee. historically, i don't like the fact that nancy pelosi took republicans off of committees out that kevin mccarthy is taking members off committees but since nancy pelosi such that precedent in the last congress i think kevin mccarthy has the duty to look at who is serving aware, republican or democrat and if nancy wasn't going to take uswallwell off of intelligence kevin mccarthy has to. we didn't get that briefing but behind closed doors, he and other members, this was unbelievable the kind of access the chinese had to this congressman. there is no way this congressman should have access to the most sensitive and powerful committee in congress. stuart: china's influence is a real wonder. by the way, check out your new show called the bottom line
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with dagan mcdowell, january 20 third, 6:00 eastern on fox business. thanks for being with us. always appreciate. squad member ayanna pressley was asked why she opposes the new house committee on china. what did she say? ashley: the democrat from massachusetts told cnn the new committee will put lives at risk. listen to this. >> i voted no because it is another sham effort here, it is really clear that this is just a committee that would further embolden anti-asian rhetoric and hate and put lives at risk. we have enough infrastructure and governance at the top of those issues, we don't need the select committee. that is why i voted no. i am afraid it will embolden anti-asian rhetoric and hate. ashley: presley went on to say
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america can be competitive without creating what she calls new cold war. the congresswoman, one of the 65 member minority that voted against the committee, which by the way will be run by republican congressman mike gallagher of wisconsin. >> wall street journal reports claims the faa was warned for years about the outdated technology that led to the ground stop. it is time to privatize the faa? i will ask florida congress and carlos jimenez in the next hour. member when the white house and governor dissenters played chemical stunts by using the coast guard to deal with migrant surge. >> we think governor desantis do political stunts, that is how he perceives to fix this issue. he is not dealing with the problem. he's creating a problem. stuart: turns out the coast guard does need his help. we will tell you how to governor is responding to this next. ♪
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stuart: texas governor greg abbott wants greater penalties for criminals that cut off their ankle monitor or violate parole. what prompted this? >> reporter: the timing is not coincidental. the legislature back in the session in austin, governor greg abbott wants lawmakers to specifically address keeping violent offenders behind bars. in a letter sent to the state house speaker, abbott says in part, i am quoting here, it is clear that the ankle monitors, a condition of their parole, were not effective in deterring or preventing these individuals from going on to commit violent crimes resulting in three innocent lives being lost. the governor is talking about two cases in the dallas area with 3 citizens murdered by convicted criminals out on parole and wearing ankle
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monitors, one was nestor hernandez, a convicted felon who was allowed to leave jail outfitted with a monitor for the birth of his child but at the hospital, police say he opened fire in the maternity ward and killed a nurse because he got into an argument with his girlfriend. the texas to part of, the justice says 19 criminals are under electronic monitoring across the state. governor abbott wants to enact strict penalties for parolees who remove their ankle monitors. those, community advocates are arguing instead of more restrictions, they should focus on prevention. >> if we have treatments and programs and things to address, the things that drive people into committing crimes we would never have gone that far. we wouldn't need an ankle monitor. >> reporter: the current
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legislative session runs through may 29th. we will keep you posted as to whether this is introduced. stuart: please do. we would love to hear. the mayor of fort worth texas, was recently named to the time one hundred next list which recognizes 100 rising stars around the world. your honor, you're in your 30s, making you one of the youngest mayors in the country, you are the new generation of republican mayors. what specifically are you bringing to the table? >> reporter: good to be with you. a variety of things. most important, what it looks like to leave thriving us cities into the future, making sure people like myself are at the table thinking about what the future holds and we are focused on quality-of-life that impacts every category of what we are doing including economic developed, building thriving
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parks, place people want to live, work, and play. we are in the stage of life, our youngest is 6. every night when i get home i don't play in the political universe. it it is real life, what families need across the country and it is an awesome platform to further that opportunity. stuart: you are pro-business. have your policies thus far or in the future brought in more business to fort worth? >> absolutely. every mayor must be pro business. it is more how you apply, trying to create an environment for thriving business, we do things out-of-the-box but one thing i am proud of, the academic program brought an opportunity to create a tax credit program in the city which is influx. incentive for businesses to come into the community. rather than depending on the size of jobs, in texas.
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what is the future technology look like? what does future innovation look like. stuart: you are the exact opposite of big-city mayors, you are precisely, everything is the opposite of what i would get. list -- next word to you. >> i was raised in a small town in texas, all about people, fort worth is a phenomenal city. i encourage anybody to see us and you will realize why we are winning in so many ways. commonsense policies. fort worth is on top for the right reasons. be one any time you come to new york come and see me and i will show you what democrats have done to this once great city. thanks for being here. the white house accused governor desantis, when
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handling the migrants. the coast guard, we need help. ashley: the coast guard didn't get the memo from the white house, accusing the governor of grandstanding. >> for some time we have seen governor desantis do political stunts. that's how he perceives to fix the issue in florida. he's not dealing with the problem, he's creating a problem. ashley: a spokesman for the coast guard sent this email requesting the influx of migrant saying, quote, i wanted to request to the aircraft being authorized to be out, too, from the shoreline of florida. desantis says he's ready to pick up the white house's slack. >> i would tell the white house not only has the coast guard
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asked us to help, because of your neglect and incompetence. ashley: says it all. desantis says he deployed the national guard to do with an influx of migrants landing in the florida keys, an increasing problem, last week, 300 migrants fleeing cuba and other countries including haiti, landed at a national park, to close down. ashley: new york is home to the best financial talent in the world but said he dealt's can griffin told new york city mayor adams that he has got to get crime under control. to dell is having a hard time, that story is coming up. there are signs we may be headed to a buyers market in real estate and that report is next. ♪ ♪
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stuart: told you the market has come all the way back, down 200 at "the opening bell," up 30 after one hour and 11 minutes of business. let's see how we close today. more home sellers are offering, quote, concessions to buyers. come on in and tell me what qualifies as a concession. ashley: that is when a seller makes a contribution that lowers the buyer's overall cost of purchasing the home. that's considered a concession. it can include funds for closing expenses, mortgage rate buydowns or even repairs. as the home market has changed, buyers are asking sellers for things that were unheard of in
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the past few years. a record 22% of sales in the last quarter involve both concession and final sales price that was less than the listing price. interestingly, not sure why, phoenix, arizona, tops the list of concessions where 63% of sellers made concessions to purchasers, a buyers market. stuart: arizona, here i come. maybe not. we are seeing new signs that real estate is heading towards a buyers market. gerri willis, details? >> reporter: it is all about basics of the market, supply and demand, in this case applies the big issue and there is good news on the horizon for frustrated homebuyers, 2,023 shaping up to be a better environment for folks who want to buy their own american dream home. new numbers out from realtor.com showing one of the most difficult problems, lack
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of inventory that pushes prices higher, that could be resolving. the number of homes in december were up 54.7%, higher than a year ago. a big number. realtor.com is affiliated. moreover, homes are lingering on the market longer, 11 days longer, enabling buyer. serious price declines may be on the horizon. moody's posted price declines, morgan stanley worked out price drops of 10% in 2024. some folks think even more. alan ratner, an analyst at zelman and associates, called the last housing bust very early and accurately. now they are saying prices may use this year. listen. >> you see a lot of supply in the pipeline, speculative inventory owners have built up over the last few months. in order to move that supply,
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they are going to get more aggressive in terms of incentivizing or discounting, and producing prices. >> reporter: mortgage rates are starting to moderate after hitting a high of 7% last october. rates continue to ease, freddie mac saying it is 6.3% and analysts see this inflation report which shows price hikes using the may force the fed to slow its campaign of interest rate hikes, that could mean mortgage rates continue to ease, gain momentum so there's more inventory, more supply for people to look at. the rates will be lower so ultimately the cost will get people back in. stuart: first piece of good news for homebuyers we've had for some time. thank you. >> glad i could bring it. stuart: for the first time ever, first time ever, 3d printed two story home is under construction in texas.
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you've got to tell me how quickly does this home get built? ashley: total of 330 hours. this enormous printer weighing more than 12 tons is creating what is believed to be the first 3d printed two story home in the united states. the machine steadily pumps out layers of concrete to build the 4,000 square-foot home. this one is in houston. since the printer does all the heavy lifting, less workers are needed in the construction site. engineers hope this innovative technique can one day help to build multi family homes more quickly and cheaply. this 3d printed home is halfway finished, sold to a family who want to remain anonymous. how much will this home cost? it is mesmerizing, who knows where this leads? fascinating.
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stuart: social media platforms, snapchat, being accused of facilitating sale of fentanyl pills to teenagers and young adults. we will follow up on that. a homeless man brutally attacked a woman with a baseball bat, he could be released from jail before his trial begins. jason rantz says this is what seattle has become. jason is next. ♪ like your workplace benefits and retirement savings. with voya, considering all your financial choices together can help you make smarter decisions. voya. well planned. well invested. well protected. then i got the dexcom g6. i just glance at my phone, and there's my glucose number. wow. my a1c has dropped over 2 points to 7.2. that's a huge victory. ♪ (cheery music) - they get it.
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stuart: it is come back, modest but a comeback, we were down 200 on the dow, now, one hour and 20 minute later, we are up 50 points, nasdaq up 8 as we speak. said adele's ken griffin sounding off on rampant crime in new york city. this is a financial company. what is can griffin saying? ashley: the billionaire urging new york city mayor eric adams to make crime the city's top priority. if not griffin warns there will be an expert from the city not to mention hard to attract new workers. major crimes in new york city spiked 23% last year according
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to the nypd, speaking at a business roundtable griffin says new york has to avoid the same fate as chicago, that's worse it is all used to have its headquarters before moving to miami last june because of the skyrocketing crime rate in chicago. griffin says he has spoken with mayor adams and was encouraged, describing the meeting as one of the most upbeat conversations about new york he has had in a long time. that will lead to results. stuart: we will see. look at this. this is a rough video. a homeless man in seattle with a long criminal history hits a woman with a baseball bat in the head. he was charged with first-degree assault. jason rantz joins me. are you going to tell me that that man could be released before his trial even starts? >> that is a possibility. the judge in this case ordered early on was a competency
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restoration over at western state hospital, a hospital that was run by the state of washington. they don't have any beds and have done virtually nothing in the last few years to actually increase capacity. right now we have 850 criminal suspects who are waiting for competency restoration so we can get the mentally to where they need to be to understand the charges against them to move forward with the trial. what we have seen in the last year are judges saying we can't keep these people in jail forever. at the same time, the state just put out a memo last week indicating they will start saying no, we will not accept certain patients. we don't know which ones they will say no to but in this case, he is supposed to be in a bed. the latest schedule was supposed to be by today and he's not going to hit that. now they have said in the next couple weeks he will get a bed. if that doesn't happen or if
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they reject it because of lack of resources, this guy will almost certainly be let go. those folks who think a judge would never do that, understand in vancouver, washington, a judge released someone charged with first ° assault for this very reason. three months later, he committed allegedly a murder in ohio. stuart: you keep bringing these extraordinary stories. a new lawsuit against snapchat accuses the platform of, quote, facilitating fitness sales to teens. the illegal drug sales are behind the spike in young fentanyl death. how do they prove it is the platform's fall? >> they can't. at the end of the day, as much sympathy as i have for any family who loses someone to fentanyl overdoses or any parent who has to deal with this as a reality, the fact is these drug dealers are adapted to technology and parents are not. parents have to be more aware
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what is going on. snapchat is being abused by these folks. any reasonable person could say snapchat didn't create a platform with the intent of trading fentanyl and selling fentanyl. we have to be better understanding of what this technology is capable of. parents have to have more conversations with their kids. above that, we have to step away from the culture of lawlessness that allows drugs to be used to be sold with very little consequences. most of the west coast has legalized, they say decriminalized, but it is legalized drugs. we are making it easier for these drug dealers to get their product out. a border is wide open, fentanyl is coming through the border. maybe we should be doing a little more than going after snapchat. stuart: go after the cartels, go after the open border. jason, you always have good stuff for us, extraordinary, we appreciate it.
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to the markets please. still green. still green. the dow is up 40, nasdaq is up one. 5 points. look at the financials of the big banks reported their earnings this morning, those that reported, jpmorgan, citigroup, morgan stanley, all of them are up, not exactly stellar results but they are up this morning. still had, florida congressman carlos jimenez, tomi lahren, steve hilton. for two years president biden has had a cozy relationship with the white house press corps. the media has turned on him. biden's transparency and the competence of his press secretary are being questioned and there's a political price to be paid for that. that is in "my take" next. ♪
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>> going into what would be a mild recession. we ultimately go to the knee jerk you're seeing today and time to own tech and not time to hide. >> they're uncovering and this is an open, very, very open question as to what we discover. >> we know about a third stash, but we don't know the volume where the first stories we
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