he said when you look at structurally bankrupt stocks like bed bath & beyond or cvna, they're ripping higher. rationality is not in play. >> yeah. 100%. i mean, this is the thing, even if we assume that the fed does pivot in june as the market expects and they cut 50 basis points, you still are not going to avert a massive increase in debt the service to the companies. junk yields were 4% before they started tightening, they're 8% now. maria: all right. >> so they're going to the face this, and we're going to see a lot of corporate bankruptcies in 2023. maria: we'll leave it there. great conversation, everybody. thank you. of have a great weekend, everybody. "varney & company" begins right now. suh, take it away. -- stu, ache the it away. stuart: here we go, a jam-packedded friday from a

freezing cold new york city. jobs, big tech, tears from the squad and a chinese spy balloon over montana. we like to say we cover it all, and we really do. first of off, a big shock. 517,000 new jobs in the economy in january. the jobless rate, another shock. it went down to 3.4%. this is a very strong jobs report. it shows virtually no impact so far from the federal reserve's rate increases. it's hard to see the fed easing up on rate hikes when this job market is this strong. extraordinary sufficient. now, here's the wall street reaction. dow industrials down probably 200 points, but look at that nasdaq, likely down 260 points when the market opens up. show me the premarket action, please, in apple, amazon and google. they came in with disappointing earnings late yesterday. they're all down this morning but not as much as they were say an hour ago. but the nasdaq the is really taking it on the chin it's down,

as we said, nearly 250 points. all right. the leading nonfinancial story this morning is that the chinese spy balloon hovering over mark's long-range miss missile site in montana. the pentagon considered shooting it down but decided not to because of the risk from debris. it's a provocation coming right before secretary of state blinken's visit to china. by the way, the chinese call it a weather balloon. in congress an explosion of anger from the squad after ilhan omar was voted off the foreign relations committee. "the new york times" says it's political revenge. the republicans say she's off the committee because of her anti-semitic statements. on the show today, a giant indian conglomerate is accused of fraud, stock manipulation and money laundering. he's lost $50 billion this week, and he's shaken india's financial system. well, it is 24 degrees in new york city right now, going down

to near 0. and a wind chill of maybe -6 or even -7. winter has arrived on this friday, february 3rd,2023. "varney & company" is about to begin. ♪ i keep working my way back to you, babe. ♪ with a burning love inside ♪ stuart: it looks cold. [laughter] lauren: it does. stuart: that looks really cold. >> frankie valle and the four seasons, but it's just winter today. is that what it is? stuart: frankie valley -- valle? it's jobs day. 517,000 the jobs added in january. lauren: a monster report. i really don't know where to begin.

we'll begin with the unemployment rate, 3.4%, 53-year low. this is my message, this is the theme i took out of this jobs report: big gain in jobs would want a big gain in earnings. so wages were the highlight. they rose, that's the month oh month -- over month number, but both came down from december. then this monster uptick in the number of hours worked. it goes from 34.3 to 34.if 7 in one hospital. that's huge. stuart: is it? lauren: mark zuckerberg said it yet -- yesterday, this is the year of efficiencies, companies doing more with less. you're going to the say what about all these tech jobs that were consistent? 100 crowrkz layoffs. this is the second and final point i'm going to make. maybe the laid off workers are getting reabsorbed. so if you got axed from, you know, met a the, you have all these great assets, maybe

crowdstrike wants to hire you, and they are. stuart: i say it's good news for main street, it's probably good news for the president, joe biden, it's bad news for wall street. you with me on that? lauren: yes, i am with you on that. stuart let's see if kenny polcari is with us on that. kenny, i can't see the market rallying when you get such strong jobs numbers as these. what say you? >> i agree, and i'm not surprised that, you know, we see the reaction we see. the number was way, way, way even outside of the bell curve, right, that we thought was going to be the number. that's way outside. but, look, it's going to cause the market to pull back, we're seeing it this morning. but part of that is also the massive rally that we saw over the last week in front of the fed, in front of the pause and the pivot conversation. and jay powell was very clear when he said listen to what i'm saying. whilest it's trending lower -- while it's trending lower, we are not done yet. this suggests he's certainly not done yet, and now unemployment

ticks down. it was expected to tick up. it's not going to the make jay powell very happy at all, and it's going to the make his job more difficult. like i said, i'm looking for continued volatility in the couple of months ahead. stuart: the earnings reports late yesterday from apple, amazon and google disappointing, so you tell me where do we go from here with their stock prices? >> listen, so they disappointedded but, again, none of this should have been a surprise to anybody. we've been talking about, you know, earnings and specifically these three big companies. earnings were slashed, estimates were slashed, and so the fact that they missed is not necessarily a big surprise. i actually think that the stocks are still okay. they're down today, but they're not even giving back what they took yesterday, and they're all up better than 30% so far this year. so i actually think we'll see some consolidation, and then there'll be a refocus on them. i don't think these stocks are going to collapse at all, i would continue to be a buyer on weakness. i own all three of them, and on weakness i would continue to buy them. stuart: good stuff, kenny.

of see you again next week. and enjoy the weekend. it's going on the freezing cold up here, but you're in florida. stay there. kenny, thank you. congresswoman ilhan omar has been voted off the house foreign allegations -- affairs committee. lauren, the rest of the squad melting down, aren't hay? lauren: melding -- melting down, indeed. cue the oscars. >> this is the about targeting women of color in the united states! don't tell me because i didn't get -- >> time has expired. >> -- thank you. >> let me -- >> the yes ewoman's -- gentlewoman's time has expired -- >> congresswoman omar is right where -- >> time has expired. >> the gop is doing what it is best with at, weaponizing hate against a black, beautiful muslim woman. >> gentlewoman's time has expired -- >> i am so sorry that our country is failing you today through this chamber -- >> the gentlewoman is no longer

recognized. >> omar was voted off foreign affairs because she made six comments about israel that were slammed as anti-semitic by both parties. that's not racist. speaker mccarthy removed eric swalwell and adam schiff from intel, they're white. speaker pelosi booted marjorie taylor green and paul gosar, they're white. this is about what omar said and what we represent as america. stuart: well said. lauren: she's still on committees, just not this one. stuart: i think speaker mccarthy was entirely right. remove her from the committee. todd piro is with me. what do you make of accusations of racism? >> lauren nailedded it perfectly from top to bottom. i would just add one more thing, go take a look at the house foreign relations committee. there are members of color on this committee, so this did have nothing to do with race, that's the only thing that i'd add. but specific specifically with regard to aoc, you saw the

actions, the moving around, the slamming. she acts like a child who is hopped up on sugar, and i don't say that jokingly. i say that because it is the unbecoming of a member of the house of representatives on house floor. it also leads me to believe that she, tlaib, they're not used to not getting their way, and they're not going to get their way a lot under republican leadership, so they better get used to it. stuart: okay. you're still with me. karine jean-pierre claiming she's been spirally honest about claims she's -- entirely honest about claims she's made. watch this. >> i have been consistent about that when i have made statements from this podium, it was at the guidance of counsel's office and consistent with what they have said. one of the reasons we try not to comment on this is because it's changing. stuart: what have you got? >> well, she is correct,. >> she has been consistent, consistently bad. or in the alternative, consistently untruthful. and, yes, she is obviously going to the lean on the white house counsel and say i'm just doing

what they are telling me to say. well, then they, the white house counsel, are the ones that are being completely untruthful. don't make the mistake in saying we're all done here unless you are, in fact, all done here and you know you are all done here. the messaging from the white house is a disaster right now, and i don't know, is she being untruthful or is she being incompetent for not asking the appropriate questions of her staff. stuart: they may have sent her out there to the podium without, with not giving her information she need to the answer the questions. so that's why she was stumbling all over the place. >> that is another fair criticism. and if that is, in fact, the case, that is pretty sad that you would throw a member of your administration, face of your administration besides the president, under the bus like that. it shows how dirty politics are and how poorly this administration has communicated. stuart: well, i think we're off to a good start on the show this morning -- lauren lawp we're mad. stuart: check futures, please. here's where we are, plenty of red ink on a friday morning.

different from yesterday, isn't it? dow off 200, nasdaq off nearly 300 points. ing up, democrat senator michael men especially calls -- michael bennett calls on apple and google ore move tiktok from their app stores. the pentagon tracking that chinese spy balloon over montana. military officials say the president advised them not to shoot it down. the chinese say it's just a weather balloon. we'll have more on that next. ♪ ♪ you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. teeth sensitivity is so common. it immediately feels like somebody's poking directly on the nerve. i recommend sensodyne. sensodyne toothpaste goes inside the tooth and calms the nerve down.

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there right now, it's going to the go a lot colder than that, believe me, folks. futures, cold on wall street this morning. we're down 200 on the dow, 260 on the nasdaq. a very strong jobs report, and that's what's pushing stocks down this morning. we're already looking ahead to the 204 the election, yes, we are -- 2024. i i know it's early in the election cycle, but, todd the, which party do you think has the edge now? >> this is fascinating, the fact that we're talking about it is fascinating. the nonpartisan election handicapper cook political report giving republicans a slight edge in a shree of competitive 2024 the house races. now, this report points to one group of democrats from ohio and north carolina who face the most challenging re-election bids. they are on your screen don davis, kathy manning, riley nichol, greg jack zonks iowa mealing ya sykes. -- jacksonson.

states have gop-controlled supreme courts which could allow legislative maps to be redrawn in favor of republicans, and obviously ohio really going republican, hard core republican, which means bad news for scherred rod brown as well and also north carolina. towing the line, you know, you have a democratic governor now and en, but in the senate races -- stuart: now look at the presidential race. donald trump is bashing his potential rivals for the 2024 -- what's he saying? >> politics, stu. former purpose taking swipes at a slew of possible 2024 gop rivals calling his former u.n. ambassador nikki haley, quote, overly ambitious and accusing florida governor ron desantis and virginia governor glenn youngkin of being ungrateful for his help in getting them elected. trump spoke for a half hour with hugh hewitt saying he doesn't believe they should run against him because of his relationship

but acknowledged that's not going to stop them. listen. >> coso, you know, i helped all those people. i took mike out of -- nikki's stuff is something that's a very tough thing to suffer from. she's overly ambitious. ron desantis got elected because of me. you remember he had nothing, he was dead, he was leaving the race. he came over and he begged me, begged me for an endorsement. >> most polls have shown trump and desantis the comfortably ahead of the rest of the field in a hypothetical primary, but desantis pulled ahead of trump in some all pulls, including one in new hampshire. boy, politics is dirty. stuart: it's fascinating. [laughter] our viewers really want to know about the jockeying for position in 2024. >> of course. stuart: why not? it's important. and re-- can we love it, don't we? the media is preparing for a showdown between trump and desantis. joe scarborough thinks we might see something similar to the fight between obama and clinton back then.

watch this. >> you don't know how desantis in the end is going to do on the national stage because, i mean, i was very skeptical that as state senator that just got elected to the united states senate was going to beat the clinton machine. he did. >> right. >> sometimesst the lightning in a bottle. >> absolutely. stuart: okay. jason chaffetz joining me this morning. jason, in the primaries i'll bet donald trump tries to pick off his rivals one by one just as he did in 2016. my question is, who does he go of after first? >> well, the list is right there in front of you. i mean, it's ron desantis first and then go after anybody who dare raises their head. but ron desantis is pretty strong across the country. he's policy-centric, he has stood up to, you know, the woke culture which the base loves. he's been a very successful governor, and he's shown -- you know, in a big state, and he's shown strength, you know, such

that his poll numbers and his election night numbers were kind of second to none. i mean, he really was the blueprint for what republicans need to do moving forward. stuart: he was elected above on the strength of what he'd done for the state of florida. of i'm not sure it had that much to do with donald trump. of what say you on that? >> well, look, trump endorsed him when he first ran, it was very important. but i was actually at the debate where he debated adam putnam. adam putnam was multiple pointses, double digits ahead of him, but i gotta tell you, ron desantis is very good at the debate. he's a yale-trained attorney, he was a jag officer in the military serving overseas. he brings a broad a array -- he served with me on the judiciary committee, on the oversight committee, he's got the congressional background. and i tell you what, when it came time to debate, that flipped the whole race. he leapt ahead, raised lots of money and soundly beat adam

putnam to get the republican nomination. stuart: arkansas governor sarah huckabee sanders is going to deliver the republican response to to the president's state of the unioning speech next week. she says, and i'm quoting now: i'm honored to have this opportunity to address the nation. what america needs is a return to common sense and a commitment to the ideals that made america the land of the free and the home of the brave. of jason, i think she is a trump supporter, and now very well positioned to play a national role. a rising star. >> oh, absolutely. hook are, she's an exceptional choice -- look, she's an exceptional choice. she represents a whole other generation. she won her election there in arkansas, the heart of the south by overwhelming numbers. and she knows how to handle the spotlight, you know? we've had some problems in the past on both sides of the aisle with people who kind of melted under the spotlight of giving the response to the state of the union, but she's been in every spotlight you could possibly imagine. she's an exceptional choice.

he represents a new generation -- she represents a new generation, and i think she'll have a compelling message for republicans overall. stuart: i think she'll represent some trump ideas right after biden's message on the economy. all right, jason, have a great weekend wherever you are. >> thanks. stuart: see you later. >> thank you. stuart: what do you think about sarah huckabee sanders taking this national -- i think it is a national -- >> 100%. i think it mains sense for two main reasons are. one, obviously, she can speak in front of an audience. she was grilled at that podium by reporters for years under the hot lights, so she can handle this. two, and i'm not saying what i'm about to say so i can get more air time on "outnumbered," in the isn't sucking up to women here. she is a working mom, working mom that trump lost hard core in 2020. sarah huckabee sanders, if she ever had designs on a future role, she would get that vote because she is working, she's a mom, and she's doing it

splendidly. she is primed for a national posture. i don't think it's in this cycle because she just got the governorship, but don't be surprised if somewhere down the line -- stuart: all right, lauren? lauren: she's got skin in the game, and she sees what's happening with her children, and she's acting accordingly. she's representing a large portion of america. i don't know how far it works outside -- stuart: but the republicans selected her knowing that she's a trump supporter. they put a trump supporter -- lauren: right. >> stuart: finish in a pivotal position right after biden's state of the union. that's important. that shows you which way the republican party is lining -- leaning in this instance. no? lauren: i wouldn't go can that far. she's a trump supporter, but she's also a desantis and everyone else supporter. >> yeah, i agree with her. i think anybody that has any shot in 2024 the has to be maga. they have to be mag a georgia, and they have to espouse the philosophies of donald trump, and they have to position themselves that they are a more

electable -- lauren: which is all of the contenders so far for 2024, embraced his philosophy. stuart that's true. all right, gotta go. look at futures real fast before we hit the commercial break. a sea of red ink. nasdaq down 264. the opening bell after this. ♪ ♪ i promise you, girl, a new world for us two with you in the middle ♪ thanks to a deluge of new government subsidies. and while that may not be the best use of your hard earned tax dollars, it does give you a unique opportunity to invest in the mega-trend, even in a down market call

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stuart: all right, check those futures. still showing some red ink. nasdaq going further south, off more than 2%. mark mahaney back with us this morning. you're our tech guy. i want you to go through apple, amazon and alphabet. they all reported late yesterday. let's start with apple. go through it, please. >> let's throw in meta there too, we're not out of the woods. you had revenue growth deceleration across the board for every single one of these companies whether it was advertising revenue, retail revenue, enterprise revenue, azure, aws and google chowld, so deceleration across the board.

they're not immune. what they all need to do and the company that's probably doing this best, by the way, is meta, they've got to manage their costs. this became the year of efficiency for meta, and every other company is laying off people, figuring out ways to batten down costs as we go through this. the question for all us investors is have they cut numbers, have they slimmed their work force and their cost structure enough, and then when does the demand start to recover. we think it starts recovering in the middle of this year, but that's the big unknown. stuart: okay. talk to me about meta. your price target was $170 a share. what is it now? >> i went up to 275. look, this is one of my top pickings. it has been since the beginning of the year. the reason is we think multiples have been derisked, estimates have been derisked, both of those have come could be a lot, and the company was the first to really get aggressive about managing its costs. you just had a sea change in attitude by the management team.

it was a little late, but they got the religion, and i think it's a better setup. so i like that one. google and amazon i still like, but i think they're more like second is half stocks. one of those names you really like, i think, is meta. and you've also got to stick with product cycle companies, that's netflix. stuart: can you give me 15 seconds on metaverse? what happened to it? >> it's still there, still part of the long-term investment strategy of the company, but what they've done here is they've taken their cap-ex guidance and operating guidance and pared it way back and told investors, we hear you loud and clear. we're going to run this business, taper our long-term investments so that we can give you earnings growth, and i think that's what the market wanted to hear. i think their year to date gains are going on the held. stuart: mark mahaney believes meta goes to 275. always appreciate it. >> thanks, stu. stuart: we now have a stock market that is open on this friday, february the 3rd. we're going to open lower, i can tell you that right now. let's start with the dow

industrials. the dow 30. i think most of them have opened, and they have. i can see a few winners at the top of the board there, but i see an awful lot of red ink. the dow has opened with a loss of just one-thursday of 1%. that is not a -- one-third of 1%. s&p 500, you're down better than 1%, but i'm really interested in the nasdaq. it is down over 2% this morning. it's had a great run, but it's down 2% this morning. big tech down across the board. apple back below 15 is 0, microsoft is back below 260. meta is actually down 2% this morning. google struggling at $103 a share. and amazon, $105 right there. i want to bring many susan because susan was on the apple call -- susan: and the amazon call. and mark ma hawnny was on that as well. stuart: was he? el me about apple. supersuperi spoke to tim cook, ceo of apple, and he old me that there are -- told me there are three reasons for the profit miss, the global slowdown which

is making the u.s. dollar stronger and the china production snags which they prewarned in december. now, you also heard apple talk about reacceleration in the iphone sales for quarter. higher sales growth than last year. and that's why the stock actually turned flat during that earnings call. i also asked tim the about possible layoffs as apple is the only big silicon valley giant that hasn't announced a big round of layoffs. he says that in many areas in the company we are not hiring at all. and then in engineering we continue to the hire some, but everybody is being very prudent. that means there are no big rounds of layoffs just yet. they have a lot of cash still on the balance sheet, and when you rook at apple making -- look at apple making 43% margins, 43% margins on everything they sell, to me, that doesn't indicate a slowdown in the consumer at all. stuart: that's ooh extraordinary. susan:s. stiert stuart a fairly positive apple report. you were on the call for amazon

as well? susan: so i listened in to the earnings call because for the very first time you heard an amazon ceo. almost in ten years you've never heard jeff bezos. andy jas city jumped in last night. almost zero profit growth for amazon, but they did report better sales, guy dance was light. and and everyone kept talking about amazon web services, aws, really the profit driver, the cloud business. it only grew 20%. that's the slowest in the company's history. question after question on that earnings call you herald andy jas city having to respond to that, and he was questioned about the lost. he point -- the loss. he pointed to their $2 billion loss on rivian, the electric car company. stuart: 20% is just not good enough. susan: i think somebody asked him about looking at sub-20 for the rest of -- stuart: okay. now tell me about alphabet. i don't think you were on the call -- susan: i spoke to cfo, only

second time in the company's history they reported falling advertising revenue. so fourth report card in a row they saw declining profit. youtube sales missed, the ceo telling me it's about ad spending, brands pulling back. and she also said they actually hired last quarter. remember they laid off 12,000 workers? she told me we are slowing the pace of hiring but, yes, we actually alsod 34 -- close to 3500 people, the majority for technical roles. we're talking about artificial intelligence i heard on the call a lot and spending a lot on the chatgpt competitor. you know, artificial intelligence generative the a.i. is the catch phrase. stuart: i've got to the talk ryan cohen and nordstrom, because he's taking a stake in nordstrom. i don't know how big it is -- susan: yeah. we don't know how big the stake is, but he's a gamestop meme lord, and he's back. [laughter] again, by the way. so we don't have any financials,

we don't know how big the stake is, but this is the second attempt to turn around a failing retailer. remember he bought a 9% stake in bed bath & beyond last year. >>? sold out in the summer. they did surge when he initially bought in. same thing for nordstrom right now, and they have problems right now. inventory grunt, lackluster holiday sales, lower foot traffic, cutting guidance. stuart: he couldn't turn around bed bath & beyond -- susan: no. stuart: the question can he turn around nordstrom. susan: a celebration of the markets is that retail investing has now surpassed those gamestop meme lord days of early 2021. so you see this stock rally that we've seen has ignited interest again and people back into the markets which, to me, is encouraging. remember after the 2001 bubble burst or the 2000 dot.com bubble burst? they didn't come back for 20 years. stuart: that is true. show me ford, please.

i think they had -- oh, down 10%. ugly report? susan: yeah, terrible. especially when you fall short by a billion dollars on your profit when you couldn't sell 100,000 cars that you said you would. execution issues, supply chain snags. the ceo, jim farley, didn't rule out any more layoffs to preserve cash and cut down on costs, but he's also facing a price war. you need to consistent the price of the mustang mach e to keep up with tesla, but also do you think it's just a ford issue? because gm, general motors, had a fantastic quarter. i mean, those are huge numbers and guidance went up for this year. tesla did the the same thing. stuart: real fast, starbucks. they reported their -- did they have a problem in china? susan: yeah. this is what we call china cratering, sales down 28% there. and apparently it's going to go negative for this quarter. so remember that china was their second largest market. they were building a restaurant there every 15 hours, and especially with the china covid

lockdowns the last three years and, you know, the snags that we've seen there, they're saying that's going to go negative, actually be a drag on the balance sheet. but still, it was a record sales quarter because of the strength in the u.s. market. stuart: real fast, can anybody get on these calls? susan: yes, anybody can get on these calls. stuart: you've just got to know the number -- susan: i also had one-on-one chats with the ceo of apple, tim cook, so you have to be asked. stuart: game, set and match, susan. susan: i just love talking to these individuals and get insight on what's actually happening in business and what that means for the global economy. stuart: good stuff. thank you, susan. the 1046 year -- 10-year treasury yield, where are we now? no, what are we doing? all right, coming up, the white house is up in arms over congresswoman ilhan omar's removal from the foreign affairs committee. watch this. >> the way that we see this, it's a political stunt much like

the unjust removal of other leading democrats from key committees in recent weeks, and it is a disservice to the american people. stuart: very interesting. tammy bruce will be with us shortly. she's always fired up, and i guarantee she's fired up today. we also talk to congressman chris stewart. he's a former air force pilot. i want to know what he thinks about the chinese spy balloon hovering over montana. should we shoot that thing down? will there be more blood, bad blood, i should say, with ticketmaster? they're bracing for beyonce's renaissance tour. will ticketmaster get it right this time? we'll be right back. ♪ ♪

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stuart: all right.

12 minutes' worth of business under our belt, and the market's coming back a bit. the dow is down just 80 points, and the nasdaq down just 155. it was the much worse than that a few minutes ago. and there's this, 517,000 jobs added in january. that is an extraordinary performance. art laffer is with us this morning. art, art, how can the fed -- all right, art, how can the fed if ease off when you've got such a strong jobs report? >> well, given their logic, they probably can't, stuart, but i just can't understand their model. by putting more people to work, how does that cause innation? that's the increase in the supply of goods and services even when the imprecision of these numbers, stuart, this is one of the most amazing employment months i've ever seen. average hours way up. total employment, now, you mentioned that on the establishment survey, but on the household survey it's up over 800,000. participation rate is way up. this is just an amazing number. stuart yeah. well, but it will -- surely, i

mean, a number like this showing this kind of strength in the job market, i mean, the federal reserve is not going to turn around and say, okay, or our job is done, we're doing just fine. they're not going to say that. they're going to keep on pressing higher, aren't they? >> well, they probably are because they've got a bad model of it, stuart. when you see the price of gold falling like it has today, gold is the first refuge of the cautious. gold is the inflation hedge of the planet, and everyone in the market knows when the price of gold drops like that, the inflation prospects are much lower, not higher. and that is exactly what the fed should be following. we should have supply-side economic policies to increase employment like they are and have tight money on the fed balance sheet runoffs, and it seems like that's exactly what's happening right now. inflation numbers are down and these employment numbers, if i were in the white house told, god forbid that i could stand it, but they should be cheering and whooping and -- stuart: they will be. >> -- because these are great numbers for them. stuart: i will guarantee an an

appearance by the president later on today in which he whoops it up -- >> i'm sure he will. stuart: more people tapping into their retirement savings earlier. fidelity says over 700,000 took money out of their 401(k) last year. art, that is not a good strategy, but if you have to do it, you have to do it, right? >> no, it's not. you have another the it but, you know, in times, bad times, people do it. they tap into their savings, stuart, and that's what they're doing. this one month is not the total picture of this administration, far, far, far from it. but this month is a very good month. but when you have participation rates below 63%, it's terrible. it's not good. and that is the case today. and people are dipping into their savings. the markets have been down quite recently a lot. but this one month for them will be the whoopsie doodle of the white house today, let me tell you, guaranteed it will and should be good for the fed too,

but they won't take it that way. stuart: okay. art laffer, very interesting. what was that expression -- >> thank you, stuart. stuart: whoopsie what? >> whoopsie doodle. stuart: my expression is whoopty do. >> when you mix it with another kind of dog -- stuart: i understand. i have a friend who has a golden doodle, but we're getting off track. >> well, a whoopsie doodle is good. thank you, stuart, you're great. stuart: employers struggled with the great resignation, but now i think the shoe may be on the other foot. some of the quitters are regretting their decision, todd? >> i can't follow that discussion. i'm going to quit right now. if i did though, maybe i'd have great regret because the greatest regret is the latest workplace trend. according to a new paychex study, this isn't a blip. eight in ten professionals who left their jobs last year want a

do-over and, stu, gen z workers reminisce about their jobs the most. a developing 89% say they regret quitting. that's not a blip, that's, like, nine in ten. 4.1 million workers left their jobs in december bringing the grand total to the year to over 50 million. i i had no idea it was that high. seemingly, the job perks, benefits and culture that caused the workers to join the great resignation are not enough to keep them satisfied. i always say all these businesses gave people a free puppy? turns out not enough to make you not miss your old employer. stuart: you give badly behaved children in a supermarket -- [laughter] there's one state that's not having trouble with their work force, and that is florida. in fact, more people are working in florida now than in new york. how about that? louvre. lauren: 9.66 million jobs in florida, 9.61 million in new

york. stuart: that's something. lauren: it really is. the shift down accelerated during florida. -- covid. florida increased their work force by half a million people in that time. companies and workers fled the cold, the mandates, the high taxes. and you would think the new york governor, kathy hochul, would take note. stuart: no, she's not. lauren: she's doubling down on the $227 billion budget. just two quick examples from that. taxes. payroll taxeses for businesses now being -- they're going up to fund the mta, and then this 7 plus percent corporate franchise tax that was supposed to sunset, they're extending it for three years for cap and trade. you pollute, you gotta pay. stuart: running out of the stat- lauren: but tax some more. it makes no sense. stuart: we've seen this movie before. coming up, don't forget to send in your friday feedback. e-mail your questions, comments and critics if you wish, to

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stuart: some of the biggest names in sports are now investing in agriculture. they are buying farms. connell mcshane has the story. all right, connell, who is investing, and why are they doing it? >> reporter: well, it's about two dozen of them involved in this particular deal, stuart. why are they doing it? well, they make a lot of money, right? and they've done their own research, which is important, and they've concluded quite simply that this is a smart investment. heres. a 104-acre farm out in iowa. it's actually the first of five farms that will be purchased by this group of well known athletes. joe burrow, the cincinnati bengals' quarterback, i'm sure you recognize, he's one of them. the basketball all-star, blake griffin, dunk contest champ -- that's why we're up in boston. griffin plays for the celtics

and has always had an interest in investing, telling us this deal just made sense. >> it's a hedge against inflation because with as inflation rises, so will the price of crops, so will the price of the land. so it's sort of safe from that perspective. >> reporter: former investment banker named mark patricof has designed really an entire business around deals like this. he has nearly 200 clients now all from the sports world looking to buy stakes in companies or, you know, in this case put $5 million to work buying farms. >> farmingland, if you look at bill gates, jeff bezos, warren buffett, a lot of wealthy people have bought if farms, and it's a great way to hold an investment for many years to generate some income off of that investment, potentially provide to some value back to the community in different ways. >> reporter: now, there is a larger method to the mad ifness. sure, the guy's a big sports fan, but he also sees a business

opportunity largely because of the high net worth of some of these clients. he was saying to me talk a look at a guy like joe burrow, he's only in his mid 20s, and patricof thinks she could easily be a billionaire -- he could easily be a billionaire one day if he invests wisely, and who knows? maybe a small farm in iowa will play a part in that. stuart? stuart: connell, great stuff. todd piro, would you buy a farm? this is investing. >> absolutely. we're always going to need to eat. it is never going away. no amount of technology's going to e eliminate that, so you've got to grow youred food. second, we have a good time on this show, in the commercial break withs about your astuteness in investing, and i know you do farm stuff -- stuart: me? >> you do it, and i've learned a lot just by talking to you -- lauren: farmer todd. >> farmer stu. lauren: i can see farmer stu, do you know anything about farming? >> why do you think i asked stu? stuart: i grow hardwood timber,

and -- it's a forest, and it's a wonderful thing to own a piece of forest, you know, walk around it so you get a real -- it's just a nice thing to be able to do, for heaven sake. >> also -- stuart: and you can make money too. >> it's also the tax benefits. there are tax benefits associated -- is. stuart: that's true. lauren: it's hard work. much of what you make goes into your equipment and your infrastructure, for lack of a better word. stuart: yep. >> it's unpredictable -- >> i didn't say it's easy, simonetti -- lauren: you're glorifying it, which i admire. >> let's start the varney-simonetti-piro farm -- lauren: i'll decorate the arm, you can do all the labor. [laughter] stuart: we're out of time, thanks for being here, good man. still ahead, congressman chris stewart, miranda devine, steve hilton, shannon bream. the 10:00 hour is next. ♪ ♪

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