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♪ stuart: that is where fox is headquartered in new york city, that is fox square. staying alive by the bee gees. let's get to the money. we have some red ink down one hundred 70 but i should point out dozens of stocks on the new york stock exchange were briefly halted. there was a technical issue that triggered a lot of volatility and some unusual quotes. apparently everything is now back up and running as normal, dow is down 160, nasdaq 38 points. where is the 10 year treasury yield? it is at 3.5%. the price of oil well above $80 a barrel this morning. $80.99, gas prices continue to rise, bitcoin at $23,000 earlier, 22,800 right now. that's the market this tuesday

morning, now this. if you live or work in new york city you become very aware of crime and homelessness. it has impact on your daily life. it eats away at the quality of your life. makes you wonder how cities like new york could make a comeback anytime soon. for example chase just announced the atms were closed at night, overrun with vagrants looking for a place to sleep and criminals waiting to take a little cash. walk into a convenience store and you see many items blocked off because of rampant shoplifting. some stores put a steel cable on detergent containers, you have to wait for someone with a key. one of the advantages of city living is convenience. there's nothing convenient about locked up product and shutdown atms, then there is crime. this is the fox weather guy, beaten up on the subway by a

gang of teenagers. adam had intervened when they were harassing an older man. 3 were arrested but under new york's liberal laws they were quickly released. the fear of crime has gripped the city. there's nothing liberating about city life when people are scared to leave their house. there's tension on the streets, drug addicts across the sidewalk, crazed men and women ranting. it is sad, what a waste of human life. i blame the defund the police movement, criminal from the district attorneys, fentanyl from the cartels and biden's open border. you cannot fix the cities until you fix those policy mistakes. second hour of varney just getting started. batya stuart: who do you blame for the diminishing quality-of-life in new york city?

>> i think you are right, these are preventable problems and it is devastating and if you think it is bad for us, people who come to the city to work and go home it is so much worse for people living in poor and working-class and black neighborhoods, black americans are 70% of the victims of violent crime and when you talk to them about what they want to see, experts call it punishment plus, they want people are committing crimes off the streets, they want them to be punished for their crimes, they want some kind of justice but they also want an alternative for these young people, they want good jobs. there's a feedback loop because people don't want to invest businesses in places that are crime-ridden, just like you said, completely preventable and we see this and liberal cities, the result of liberal policies. stuart: there will be no change in new york city or any other big city with these problems until you fix leadership and that means fixing political

leadership, no secret these cities are in disarray and almost all of them are run by democrats, no change unless there's a change in politics, what do you say to that? >> you are totally right. it is such cowardice because these elected officials and democratic cities know that their constituents are desperate for change. why don't they do anything? they are terrified of back lash from leftist twitter, the cowardice is unforgivable. stuart: the governor of florida, ron desantis defending his decision to ban ap african american studies courses at public high schools in florida. watch this. >> they are advocating things like abolishing prisons. that is a radical political position. how is that being taught as fact to be able to do that? i also think it is not fair to say that somehow abolishing prisons is somehow linked the black experience, if that's what black people want, i think they want to law and order like

anybody else wants law & order. that is more ideology being used under the guise of history. stuart: do you agree with what the governor is doing in the schools down there? >> absolutely. as somebody who got her phd and had to take an african american studies course i can tell you they don't tell you that 80 one% of black americans oppose defunding the police, they don't tell you 50 one% of black americans oppose affirmative action, they don't tell you there's a robust debate in the black community on these important issues. i think he's right that if you want to give kids a good class, they have to make with their own minds, you can't tell them what to think and these are courses don't do that. stuart: always a pleasure, thanks for being with us today. crime among one particular age group soaring across the country. which particular age group? lauren: kids and kids killing kids. we start in new york city.

police, one hundred 24 juveniles committed shootings last year, double the number from 2,020, as for the victims, 153 were younger than 15. and dc, 214 firearm-related arrests of children last year, 16 children killed, 16, almost double the year prior, we are seeing high levels of crime, vagrancy on the streets of new york city, you mentioned it in your open, chase closings in atms when the bank branch closes, 5 or 6:00 at night and at first i thought what is the big deal? the big deal is if you're out for the night, want to grab something to eat with your friends and need money you have to go to the bodega and spent $4 and be inconvenienced because chase has to close some of their locations because of crime they have been seeing on the streets. we are paying the consequent as. stuart: one of the great things about living in the city is convenience. it is become a more

inconvenient and very costly. the new york post reports that wall street is preparing for its biggest round of layoffs since 2008. what is this going to do to the economy, all these layoffs across the board? >> first thing people say is everybody over hired after the pandemic annex garbage. it doesn't matter why they hired or over hired, all we know is they see something coming that the fed or the administration doesn't see coming, that's a bad economy. if you have to fire all those people, i don't know how much you like microsoft and when they fire people that program and write code, that is not good and you are firing people making money for these banks. i often wrestle with the fact that a lot of these layoffs have not come through in these jobs numbers but if i have to listen to wall street or amazon about what they see with their management systems coming around the corner when it comes

to the economy i will trust them more than the admin straight or the fed because these people have skin in the game. they want to make money and stay solvent when the government doesn't have to act as fast as they like and the administration. stuart: the mayor of washington dc called on the president to end remote work for government employees. watch this. >> we need decisive action in the white house to get most federal workers back to the office most of the time or to realign their property holdings. the federal government represents one quarter of dc's pre-pandemic jobs and owns or leases one third of our office space. converting office space into housing is the key to unlocking the potential of reimagined more vibrant downtown.

stuart: i hate to be sarcastic but does the president need to stop remote work and set an example? >> no, she's the ambassador. as is adam's for new york, why not make it safer where people want to come back. they are not going to do that. i don't know about you but i don't think the us government has a good history when it comes to running housing so if i was in charge and you had to decide what to do with those office spaces, if they are leased or owned by the us government, or owned by us as taxpayers, they should just sell it. some will be ancient, old properties on the national short register but the ones that aren't, get rid of them. you don't want to run housing authority, the us government is not very good.

first thing i would say is everything is better in person, we should make the sale to the constituents, shouldn't have to be mandated, the city should be vibrant. why doesn't the mayor of new york worry about why there's problems rather than have the bank shut down those gas stations. we are going after the symptoms and not really solving the disease. stuart: cities are in dire straits, see you again soon. we are looking for the movers, there are significant movers with the dow down 160. let's start with peloton. lauren: they are only worth $12, down from 14. they fear a potential softening, going back to january, you made the new year's resolution, you are trying to -- software consumer. stuart: how about ford motor coming up the stock is not done much. lauren: we told you they were

looking to cut 3200 jobs in germany. there's another report from the wall street journal that ford is in talks to cella ford plan, the the v maker out of china, it makes the focus of a compact car and make sense. what is the name of the game for every company? cut costs. higher material costs for batteries, they are seeing a slowdown by the customer in europe in the us. that the report, stock down one%. stuart: tell me about lift. lauren: they got an upgrade, overweight, they are up 3% moments ago, basically like the cost reduction measures, the stock is going up to $24. stuart: that the story of the day. many americans tipping at restaurants is out of control. lauren: everyone is solicited for a tip, places you never

used to tip before. if i am getting a large order at a coffee place, absolutely. my one cup of coffee, paying a higher price for that coffee, 4% fee to buy that coffee, why am i being asked to give a tip, right? it makes customers feel ashamed so businesses are starting to take note, you keep soliciting or asking customers, sometimes you go to the drive-through at have the option to ship the worker or pick your chinese food or you have the option to tip, many times people do, that's great but it is social pressure a lot of customers don't like it businesses are taking notice. blue when you think is out of hand? lauren: with high prices and fees to use your credit card, absolutely. i tip well when i feel the need to tip. you are just trying to -- i tip most of the time but it is a little bit outrageous.

stuart: in new york city, 20%. nice restaurants. lauren: that the restaurant, that is customary in the us but should you tip 20% when you went to pick up the order you placed on the phone? stuart: no. we are in agreement. stuart: you are trying to make me look like a cheapskate but you do the same thing. i want to know how viewers feel. should we get tips? why not? stuart: i don't think so. lauren: am i right? stuart: we've got to go. lauren: a tip jar on the desk. stuart: m&ms retiring its spokes candies. the candy company says they have become too polarizing. i don't know what this is about but we will tell you the story. lauren: i was going to ask lena candies.

stuart: debt default could cost 6 million jobs in push an employment above 7%. i don't think default will ever happen, not going to happen. i will ask stephen more about that. gas prices on the rise again. if you ask biden's energy secretary, it is not the president's fault. >> does the president get credit or not? >> it is based on international and climate events. stuart: why do we think prices are going back up? we will ask canary's ceo, dan everhart, he knows the oil business well. ♪

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stuart: a new report reveals how much biden's offshore wind operations could cost to. lauren: at least 22. $5 billion and that is just for the main infrastructure, construction would take between 6 and 9 years to complete. the goal, 65 gw of offshore wind energy by 2030. lauren: that will cost $22 million. lauren: and change. stuart: now we know the price of it. the price of gas keeps going up, $0.40 a gallon in the past month. the white house is yet again shifting the blame for rising prices. grady trimble, who is the scapegoat this time? >> reporter: mother nature is partly to blame according to the white house. the national average per gallon of gas has gone up $0.12 in just the past week.

>> winter storm elliott, 2 million barrels off of the us market because of refineries that went down. that crimp and supply causes prices to go up. what happens in china. are they going to be opening up soon? are they are expectations regarding increase in demand? that happens in a global market. >> reporter: house republicans are looking to stop the biden administration for music the strategic petroleum reserve to lower gas prices like they did last year. they introduced a bill that would limit the president's ability to draw from the spr except in the case of emergencies unless he comes up with a plan to increase oil and gas production on federal lands. >> let's face it. the intent of the strategic petroleum reserve was not to score political points but this is what this administered and has used it for but what raise gas prices was the war on

fossil fuels, the said ministries and undertook when they first got into office. >> the american petroleum institute tells fox business we welcome federal efforts to open up more acreage for american energy development and support congress's role in overseeing the emergency reserve that provides energy security for the american people. the house could vote on that bill later this week but if it passes, energy secretary jennifer granholm says president biden will veto it. stuart: thanks very much indeed. let's stay in the oil market. dan everhart is the ceo of canary joining us now. why are oil prices going up in your opinion? >> a few different factors. first of of all it has been underreported russian exports are falling, there's a 9-month delay between when the war started in february, 9-month delay when you drill into production comes online. that's a mental story. you have china reopening.

the administration is doing themselves no favors with their policies. stuart: tell me how much oil america is producing. 's it down from where it was? 's is starting to rise? >> it is rising a little bit. we are producing 12 million barrels a day. that's a million barrels a day higher when trump was president and we had a worse economy and lower oil prices. you see notwithstanding granholm's explainer in chief affect yesterday, what we are seeing is the chilling effect happening because of the biden administration's policies. stuart: the other side of the coin is green energy. green energy is expanding. what proportion of energy use in america is green? >> depending how you calculate it between 8% to 11% but a lot of it is noneconomic, heavy subsidies get the investments made. it is a bit overblown. the return investors are getting, it will take longer

than people think. stuart: how will be get back to one hundred% of renewable energy and totally no fossil fuels? how will we do that? >> that's a fools errand. i believe we went to the iphone because the iphone was better. what we need is consumers to make a choice and have option hourly but the government can't pool us of their. to their. that is communism and not appropriate and not best for the economy and consumers in the midterm. stuart: we drew a lot of oil from the strategic petroleum reserve. some believe that was to china's advantage. >> absolutely. if i had hair i would pull it out over this. a lot of this oil we sold last year china bought so we are selling american treasure. it is a complete split screen disaster for america but at the same time we -- the untold story is in 2023 we are going

to spend this year adding to the reserve so the government will be in the marketplace competing with you as a consumer buying gas, putting a floor under the price of gasoline so the democrats can have the advantage in the election with lower oil prices in november 2022. i think the weaponization of the strategic petroleum reserve is blasphemy and voters should not reward this. stuart: blasphemy is a strong word, you used it. thanks for being here. new evidence shows chinese state owned companies may be helping russia's war effort in ukraine. we will tell you how the white house is responding to that. chinese aircraft detected around taiwan. is china going to invade? michael pillsbury takes that on next.

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is set to sue google over its dominance in digital advertising. that's expect the later this week according to several reports. raymond james says from 120, because it adds revenue coming in, a slowdown. stuart: and an antitrust case from congress is not something you want to hear about. cheesecake factory, what is the story? neil: raymond james downgraded them, their continued concerns about their ability to recover their margins that they had when prices started to rise so inflation was hitting them. they are increasing menu prices and their margins are under pressure. stuart: how much would you to? lauren: 20% or l'amour. stuart: packer. lauren: long-haul trucks, there's big demand from

customers, especially those that want to replace their aging fleet, for their equipment, all the deliveries, everyone orders everything online. stuart: the pentagon of all people, the pentagon are preparing for speaker mccarthy to travel overseas. why, where is he going? lauren: taiwan. former house speaker nancy pelosi, bipartisan price, what happened? china, exercising military drills around taiwan in response to her visit, beijing thought it was provocative. no one has been confirmed on speaker mccarthy's visit but the military is making preparations for it. attribute is expected in the spring. stuart: china's military vessels and aircraft detected around taiwan's waters and airspace. next month a russian warship armed with hypersonic missiles will join exercises with china.

michael pillsbury joins me now. first question, will china invade taiwan in your opinion? >> the risks are growing. it is a dangerous situation. i'm not the boy who cried wolf thing will happen tomorrow but we don't want two fronts, deed don't want to defend ukraine on one front and taiwan on the other. any effort to deter chinese thinking about taiwan is a good investment to. stuart: what weapons should we be supplying with taiwan bearing in mind the rising threat of invasion? >> this has been a political controversy for the last 40 years. bylaw we are supervised defensive weapons helping taiwan in its own defense. a lot of very zealous pacifists have decided that means almost nothing of us it is short range. there's a movement in the last ten years to say taiwan needs to defend itself better and be

more like a porcupine and have anti-ship missiles, even things like tanks, donald trump approved one hundred american tanks for taiwan so we've not been selling enough to them over the decades to deter chinese invasion in the exercises you see are practicing for invasion. that is the concern. stuart: why would china go through with a full-scale invasion, really upset the entire planet and be an enormous effort on their part and why would they do it, do they want to go after the chips manufactured in taiwan or are they deflecting from the problems at home, why would they do it? >> so far they would not do it because they are succeeding in converting taiwan into becoming a friend of china. 30% of taiwan voters say they would not mind a political talk with china so they are not

going to have a sense of sanity and do it unless they feel they are not succeeding. they have not been getting the main thing they want, it's not the chip factory the conquest of the island, they want the world to say taiwan belongs to china. we won't do that. we understand taiwan belongs to china and then throw in taiwan saying we are independent, this is highly embarrassing and invokes anger for chinese leadership. you can't have a country, we call it an island, not a country, they can't have part of their unification destiny delivered to them, makes me angry every time a speaker visits including kevin mccarthy, they look carefully to see, are you saying taiwan belongs to china? almost no american politician whatever say that, can't just abandon taiwan to communist china. that's the cause of war. they believe they are no longer able to unify the country and have to use force as part of a coercion campaign. stuart: interesting wall street

journal op-ed says america should send american tanks to taiwan instead of ukraine. i have not read this myself. i looked at that headline. truly taiwan is not a country where tanks would be useful, is it? >> it is, and donald trump approved one hundred tanks, only half have been delivered so the issue is more for germany, to encourage them to send their own much better tanks, or just have this low rate of delivery. that's one issue kevin mccarthy will try to address, the backlog of weapons, to billion dollars worth taiwan has paid for, think should be delivered but somehow have not been delivered. tanks for taiwan is already done. stuart: don't they have -- come on, we paid, pony up the weapons.

>> they are not a country. we don't give taiwan the status of a sovereign country, we continue to be a no man's land and that's the heart of the politics. we don't know how to treat taiwan in a way that beijing won't invade but keep americans happy want to say taiwan is being given away to communist china. that's the issue. stuart: interesting diplomatic problems that could become military. see you again soon. state owned companies in china may be providing assistance to russia's war effort in ukraine. what is the administration saying about that? lauren: bloomberg is reporting the biden administration confronted beijing with evidence that state companies are assisting russia's war effort in ukraine and the question is did china know about it? if it is true, and what do we do about it? tensions are high between the countries, more sanctions on the table, is it worth that?

a former top fbi official arrested overtimes to russian oligarch oleg derekkostka, charged with filing us sanctions and money laundering. is accused of being paid to get him off of the sanctions list. stuart: rents have indeed fallen for the past four months but that is not stopping some democrats for pushing for nationwide rent control. jeff flock has the story coming up. 340,000 people left california last year. now some california lawmakers want to tax the wealthy even if they have left the state, we have details on that for you next. ♪ ♪

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stuart: the dow is down 67 points, the nasdaq down 50 points. a lot more than that earlier. show me microsoft, stock of the day, down a fraction. the big deal is the report after the closing bell this afternoon, very important earnings report could set the tone for the market, certainly for big tech. the exodus from high tax states continues to accelerate. which states were hit the hardest? lauren: state with double digit income tax rates like california, they lost 343,000 residents. hawaii, new jersey, new york and oregon making the list here. where do we go? states without state income tax like florida and texas, look at the population growth they've seen in the past year. those states don't have a state income tax but california has taxes.

did you hear about the no one? a progressive democrat lawmaker wants a wealth tax on residents who moved to, like an exit tax on your well, one. 5% on net worth above one billion dollars, artwork, stocks, real estate. stuart: is one% on $50 million a bucket annually. lauren: it is one. 5% starting in 2024 and goes to one% on 50 million in 2,026. you think any rich people will stay in california? stuart: i don't think californians care. they should because most of the revenue comes from -- lauren: this will generate 20 one billion dollars. stuart: that was good. rent prices started to fall in the last few months but there's a push to limit rent increases across the country. here comes rent control, jeff flock joining us on the set in new york today, great stuff. it is nationwide rent control.

>> it is a bad word, rent control, but that is what it would amount to, limiting the amount of the ability to charge rent. democratic lawmakers, a group of 15 senators and congressmen who sent president biden a letter, we've got the letter, they asked him for timely executive action to address the historically high rental costs of housing instability. we urge you to pursue possible strategies to end corporate price gouging. the fact is, businesses now control most of the housing rental stock, 45% to individuals which control 40 one% but there's a question what the president can do about this. only a couple states have rent control in california and oregon, but if you look at the map, look at all the states that prohibited rent control, they passed laws against it.

that is 30 plus states i think. rent as you point out, the rent trend is down. looks weird that they are suggesting that right now if you talk to any real estate person they will say rent control means they don't have the money to take care of the property. >> what we have seen in new york city with rent stabilization and rent control, my local market, is over time it is very difficult because the landmarks no longer have the ability to have funds to replace and keep up the properties. >> they say it's a disincentive to improve the property. i'm sure you have other critical notions. stuart: i don't see what's wrong with big corporations owning a portion of the nation's housing stock. they are putting their capital into it. that's how you develop a

nation's housing stock, stopping them from doing it, from charging economic rent is a disaster. >> in new york, so costly. some people can't afford to pay them. stuart: what do you do? control rent and ruing the housing stock or move to new jersey? controlling rent is a bad idea. it has a bad outcome. >> i would agree nationally you are right but in the certain high dollar places where people are packed tight maybe there's a reason for it. capitalism is a great thing but you have to tweak it every once in a while. stuart: we still disagree even sitting next to each other. i've got to get to a good story. we have a new study, ranking the ugliest buildings in the world. how many in america? lauren: six of the ugliest on the planet. i find this insulting. we have beautiful architecture here. this is the ugliest building,

the edgar hoover building in dc, the ugliest in the us, second ugliest in the world. what is the ugliest building in the world? the scottish parliament in denver. we don't have a picture of that, boston city hall, one of the ugliest and the water main complex in washington dc. stuart: i don't agree with that. lauren: i am insulted by it. got to tell everybody what is coming up. that is the watergate building. jeff bezos bought the washington post for $250 million in 2013, there is speculation he may sell it so he can buy the washington commanders. we've got the story, down to the final four in the nfl season, kilmeade is on the show, he gives his super bowl predictions after this. ♪

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i want to talk football. nfl football, you're football. we are down to the final four in the nfl season, the 49ers play the eagles, the bengals play the chiefs. i think i've got that right. i want your super bowl predictions. >> san francisco will play cincinnati in the super bowl and the third time, cincinnati, never seen a team look so confident as the season went on, didn't start off great but got better every day. they didn't like the way they have been discounted all the way and people talking buffalo playing in atlanta because of what happened with the game because of the injury in buffalo, now they have a chance to play, they have a chance to play not in a neutral site. that will be great for them. for san francisco i think the most well-rounded team, the most organized team, on both

sides of the ball and they find a way to beat the eagles and that cuts the hard out of eagle fans, they had enough success over the years. stuart: are you going to the super bowl this year? brian: i will make myself available for you. we will do this show, the radio show, fox and friends, one nation on saturday, contribute to the network, bill hemmer, look to catch up with other special guests. and the super bowl. stuart: do you ever stop working? brian: you could consider that work, covering the super bowl? it is fun. it is fun covering the story. i will stop working, but you are in the same time as me every day. you wear jeans to work in a suit on television. i can only pick out one out for today. that's the difference between us. stuart: i think there are a few others but there you go. do you miss the world cup and the claimant a premier league

soccer? >> i'm fascinated by what is going on with the men's team as they try to pick the national team on track so they make a difference in north america which we will be watching going to games from mexico to canada watching games. i would not doubt you ask me to go with you because we have a parking pass, number 2, we have to pick a coach. try against somebody to get us back. what i'm fascinated at, i am watching in prime time on network television, i am watching premier soccer. people are more into premier soccer than non-soccer players. people, the sport that you watch. stuart: i sometimes sit in a sports bar watching premier league soccer, there's a bunch

of guys watching premier league soccer and they are all gambling at the bar making bets as to what is the next play, that's brand-new, never seen that before. brian: you have two goals and gambling on the game, pretty amazing to get into those other bets. stuart: sarcasm, low form of wit. the new york post suggests jeff bezos could sell the washington post so he can buy the washington commanders. what do you make of that? brian: i don't know if he is mad about running a series on how bad and toxic the environment was with the redskins now that the commanders helped take him down, make himself a team, expose the horrible way they run the organization and the terrible way the people that work for them, also multibillionaire, he feels as though even though jeff basu's would have the money and pass the background check among

other owners, he might choose that to sell. is there anybody else that will step up so he can choose to go around bezos? he let everybody know a week ago he is laying people off at the washington post so he's not the most popular guy around. why not? all these rich tech guys want to do something, the nfl team is one of the most profitable things you can buy, so do it and have some fun and stay in washington. it makes sense, but daniel snyder's pettiness might win him. stuart: always good, thank you. talk to you later. still had on this program today, we have kennedy, stephen moore, ian pryor, mike murphy, 11:00 eastern. ♪

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call now to get started. (bright music) >> i do think that there's a cover-up going on when they knew just before the election that they had classified documents, they didn't tell anybody until almost two months later. why? that's a cover-up. we take this very seriously, says the white house. yeah, right. none of us believe that. >> i think this whole story o