tv Varney Company FOX Business February 13, 2023 10:00am-11:00am EST
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it's a monday morning. don't we love mondays? we we do. good morning, everyone. it is 10:00 eastern. i'm ashley webster in today for stuart varney. as always let's get straight to your money. we are on the upside. we started flat but we're gaining a little bit of ground modestly. dow up half a percent. the same story for the s&p. nasdaq up 103 points. take a look at the 10-year treasury. that too was flat at the beginning right around 3.74. it is down ever so slightly, 3.70% on the 10-year. let's take a look at bitcoin. still around the 21,000 mark this morning up 93 bucks, 21,678 for bitcoin. >> now this, the white house reaffirming that president biden intends to run for re-election in 2024. watch this. >> we'll hear the big speech, the biden harris 2024 announcement. real quick. >> as you know, i'm limited what
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i can say. i can't cover by politics. covered by the hatch act. repeat when the president haas said many times he intends to run i will leave it there. ashley: i will leave it there. charlie hurt joins us this morning. great to see you, charlie. do you think he should run? he is probably is going to but should he? >> these politicians are all the same, doesn't really matter what we think or what we want. they think they should run because they, it's a funny thing about being in the white house. they really like it. they all think they belong in the white house this is a guy whos has been in washington for what, 50 years? nobody believes more fervently he belongings in the white house than a dude who has been lying around washington for 50 years. i kind of think in a odd way former president trump may have kind of sealed this by announcing so early. i think a big reason why joe biden is insisting that he wants to run again is because he
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thinks that president trump will be, would be his opponent but the other thing i think is kind of interesting to think about, it is a little bit like frogs boiling in water. if you actually go back and look two years ago at joe biden, and he was kind of old and foddering then, you look at him today, it's a pretty stark difference. it has been gradual for us because we've seen him every day but he is starkly more aged and slow and confused and, i this do i that that could end up being a real problem for him. ashley: i think so too but i want to move on to this, take a look at this op-ed in "the washington post." it says, quote, who is toughest on china looms as a 2024 republican campaign theme. they say, quote the republican candidates for the 2024 presidential nod and eventual nominee are likely to spend a lot of time claiming to be the toughest on china. do you think that is a top issue
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for 2024, charlie? >> oh, i think it is and i think that actually among voters has been a top issue for decades and both parties ignored it, much like both parties have ignored illegal immigration. china has been a big issue with normal regular american voters who lost their jobs to factories moving overseas to china, stealing our ability to, by stealing, you know, designs and things like that, hurting our usa manufacturing base. so i do think this is, it will be a top issue for republican voters. it goes across the board though. i also think it is very smart and shows the strength of the republican party they realize this is a very important issue and by, and no part of this is more important than going after china on the origins of covid.
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what china allowed to happen and then what they actively did to cover up what happened and probably led to the deaths of millions and millions of more people around the world because they refused to acknowledge that they had this problem or that they had something had gotten out of hand in their own lab. i think it is a very, very good issue. it's a issue, not good, but it is an important issue that is going to stick around and republicans are the only ones who seem to really realize it. ashley: yeah. certainly donald trump that was a big mantra of his in 2016. we're always out of time but great stuff as always. >> great seeing you. ashley: my pleasure. let's move on. democrat senator john fetterman reportedly struggling to adjust to life in congress. come on in, lauren, give us latest details.
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lauren: it is sad, ashley. "new york times" are calling a severe auditory processing disability. he is trying to make out the muffled voice in the peanuts cartoon. he is strug struggling after his stroke this year. the senate equipped him with closed caption technology for him, labor russ for him, unfamiliar duties particularly taxing for someone in stoke recovery. he is lonely, right. he lives alone in d.c. apartment, drives four hours to see his wife and three kids when he can. i think his adjustment to the senate has been tough. ashley: question. lauren: he has been hospitalized. ashley: we wish him the very best. it is difficult. lauren, thank you. let's get back to the markets if we can. jeff sica joins me on this monday. great to see you, jeff. first question how long can the fed fight the market and keep
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winning? you're saying that the bulls are doing just, are ignoring everything that the fed is doing in trying to say, right? >> ashley, think about it. the mantra that has been drilled into our heads in the past decade is don't fight the fed and what the fed has done is they have poured in millions of dollars of liquidity. they have lowered interest rates to zero and jay powell as dazed and confused he is has made it very clear they're not going to pivot. he has made it very clear ha although he is talking about disinflation, making it very clear they are not beginning to pivot. so here you have a market that is, it is gone completely rogue, it is on fire and what the bulls are doing is they are completely ignoring don't fight the fed. they're fighting the fed.
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the fed is saying they're raising interest rates, they're sucking liquidity out of the market which will eventually affect stock prices but the market, the bulls don't believe him. they think he is fibbing. he might be but that's what they're reacting on. ashley: so what are you expecting tomorrow, jeff, with the latest cpi? >> well i'm expecting a slight uptick. i think you're going to -- keep in mind, ashley, the cpi is the most important economic report we will see in my opinion because now, you know, you had last week jay powell, like i said he is talking about this inflation but he is saying we're not -- he is making it clear they're not talking about cutting rates. every time you talk, you hear about cutting rates the market surges and there's no empirical data. if this number in the cpi does
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not decline you can't justify a market that, you can't justify them pivoting or even slowing the process of raising rates. ashley: jeff sica is never dazed and confused. he is always on it. jeff, thanks so much for joining us this morning. bring back lauren in here. you're looking at some movers. let's begin with the real estate folks, zillow. lauren: look at them, up 4 and 3/4%. evercore isi saying the stock going to 61. upgrading themoutperform. they call this current period the low point for home sales. after that rapid recovery. we'll take it. twilio, they're a cloud company. they're now prioritizing profit, quote far more than before and overgrowth, cutting 17% of staff, closing some offices. monday.com. it is monday, i never heard of this story. it is israeli software publisher. look at them go up 10%.
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what they do help to make work flow more efficient. report better earnings. they said they added 34,000 new customers last year, ashley. ashley: look at that, up 9%. thank you, lauren this is interesting, the department of public transportation just launched a investigation into elon musk's company neurolink. what is going on? lauren: the d.o.t. is alleging that neurolink packaged, transported contaminated hardware in 2019. bear with me here. neurolink removed devices from animals brains, those devices potentially had infectious pathogens in them. this investigation will determine if neurolink employees were trained to properly pathogens, if any of them were impacted by any of these alleged activities. it sounds scary but neurolink is saying haw investigations work.
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neuralink. this is how investigations work. they stand by how they have acted. ashley: interesting, thank you very much. kevin o'leary is facing backlash after tweeting this, you may lose your wife, may lose your dog, your mother may hate you. none of these things matter. whatever is you achieve success to do whatever you like. kevin o'leary responds to recent criticism on that in the 11:00 hour. should be a interesting conversation. a former army secretary says we need to prepare for the worse against china's increasing military aggression. he says the u.s. is the underdog in the fight. we'll have that story. lawmakers on both sides of the aisle are calling for transparency from the administration after our military shut down another object flying over the u.s. why haven't we heard from the president directly? florida congressman mike waltz will take that on next.
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is day nine of the recovery. it could take additional two weeks to recover all the debris. they have underwater unmanned vehicles and sonar to the debris field, six mice off the coast of myrtle beach. the weather has cleared up. we were told weather permitting salvage operations would continue. you're looking at inflatable boats and equipment being dealt with by the navy personnel. this is the first of four on going recovery operations following shoot down of unidentified objects over the weekend. the recovery in south carolina is different because it navy knows what it is looking for. the officials knew this was high altitude spy craft and knew the equipment on board. this is the size after regional jet, much larger than the car sized object shot over alaska. defense officials last night reiterated why think did not shoot down the china airship like they did these other three
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objects immediately. >> in the case of the prc balloon it was flying at an altitude it did not pose a threat to civilian aviation. that was part of the criteria for bringing it down over the water when which could safely do so, in addition to its enormous size. it was 200 feet tall. the payload was the size of three school buses. >> reporter: ashley, last night defense officials said part of the reason why we're starting to see more of these objects because they recalibrated the radars after this high altitude spy craft was spotted and monitored for a week to pick up smaller objects moving at higher altitudes than they were used to. when they were asked whether or not this would become the new norm, daily shoot-downs, yesterday they didn't deny that could very well be the case. ashley? ashley: all right. bryan llenas on the the on
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terra firma today. democrat jim heinz is criticizing the response to the chinese flights but senator chuck schumer defending the delayed reaction. listen to this. >> i have real concerns why the administration is not being forthcoming with everything it knows. i see a pattern look at social media this morning all of sudden massive speculation about alien invasions and additional chinese actions, russian action. in the absence of information people's anxiety leads them into potentially destructive areas. so i do hope very soon the administration has a lot more information for all of us what is going on. >> we got enormous intelligence information from surveilling the balloon as it went over the united states. >> can't they get enormous intelligence as well? >> they could have been getting it any way. we have to know what they're doing. we under didn't know exactly but we got a lot of that. ashley: congressman mike waltz,
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from florida, joins us. the question we've been asking, do we need to hear from the president? >> we do need to hear from the president and we need him to be honest, forthright, to speak to the country with candor if there are things that we don't know yet, then lay these down. we need to understand what he, the defense department, the intelligence community knows in terms of the origins of these objects, what we believe their intent, what we believe they're getting from us. then what our policy is. you're still getting such mixed messages from this administration. so you know, they're saying that they didn't shoot down this massive spy balloon because it didn't interfere with civilian aircraft but these other objects did. does that lead us to believe if it flies 60,000 feet above it
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gets a free pass? if it is very large it gets a free pass? that they will let the spy balloons or other craft complete their mission before the getting to the atlantic ocean? the policy needs to be explain rather than this kind of spin needs to be explained. i appreciate representative himes and his candor. ashley: get on to this one, congressman, former army secretary patrick murphy sounding alarm on china's increasing military aggression. listen to this. i will get you comment. >> what people need to understand in our great country we're the underdog here. we're a third of their size and i'm not just talking about geographically and population. we need to wake up to understand we have a competitor out there in china. they are the preeminent power in the world. we don't want any unnecessary wars. we always have to prepare for the worse. ashley: is he right, congressman? how worried should we be?
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>> he is right and i'm hoping these balloon episodes are awake upcall for the country to the spying that has been going on, a tidal wave of it for years now in our universities, in our tech sector, in our research labs, in our businesses through cyber. they have stolen their way to the top. there are key technologies that we have now that we are struggling to catch up on and i think the wake-up call if we go to some type of conflict, number one they can shut off shun ply chains critical to the economy, including pharmaceuticals, including solar panels and batteries. number two, if we go to some type of military conflict as former defense secretary-general mattis said we can't take for granted we win this time. that should be an alarm bell for every american. ashley: very quickly congressman, do you think china sees us as a weakened power with this administration?
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that we're not very desays tiff in what we do, how we respond? >> well they're openly saying it xi said to the 20th party congress, america is a declining power. the west is a declining value set of capitalism and liberal democracy and what they seek to replace it with is socialism with chinese characteristics which is essentially a tech know surveillance dictator ship. they seek to export that around the world. that is the wake up y'all call we all need to hear. he is saying the plan and laying out the plan they need to achieve it. ashley: congressman mike waltz, thanks for being with us today. we appreciate it as always. okay, now, this the chair of the house intelligence committee, mike turner is slamming the administration's transparency over the chinese spy flights.
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what is he saying? lauren: there is no transparency at all, and the white house and president needs to brief congress even if there is a lot they don't actually know. >> this is particularly annoying about this administration. the biden administration needs to stop briefing congress through our television sets and come here and brief us. we're seeing announcements made by the administration without any real information given to congress. they're probably little hesitant after the chinese balloon fiasco they led it go across the country to great criticism, bicameral criticism from congress. lauren: congressman turner is a republican but as you just heard earlier, congressman jim himes is not. he is essentially saying the same thing. they go on tv, all these lawmakers, they speculate. that doesn't help anybody out. the president should tell them everything they november and don't know. ashley: we con to wait to hear from the president for sure. thank you, lauren.
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mark cuban says misinformation will only get worse as big tech goes all in on artificial intelligence. we'll explain why the billionaire is so concerned. joe concha said the red wave finally arrived after it failed to materialize in the midterms. he will tell us why he believes blue states are facing a pretty grim reality. that's next. ♪. mom. can we get a puppy, mom? please? girls, pets are a big expense. aww. [ audience cheers ] maybe try switching your car insurance to progressive. you could save hundreds. [ audience laughter ] thanks, tv dad.
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it was never integrated successfully. they also offered soft guidance. that's why that stock i was down 14 1/2%. this is a story if it is actually true. ford is expected to announce it is building a three plus billion dollar battery plant in michigan developed with the china's catl. so, yes, developing batteries, making batteries here in the u.s. for evs but doing so with china. it would create 2500 jobs. we'll see if there is announcement. it is expected today. manchester united, there is a report that qatari investors are preparing an imminent bid for the premier league club, that the money would come from an individual fund rather than a sovereign wealth fund. manu up three or 4% earlier. it is up 4%. ashley: like their biggest
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rivals, man city owned by middle eastern rivals. >> there is this, white house communication kate beddingfield is the latest staffer to leave. she is expected to take on a strategic role in biden's 2024 re-election campaign. mark meredith is at the white house with the very latest. >> reporter: we're certainly seeing a shakeup in the west wing staff. that is to be expected. people move in and out of government service all the sometime. high-profile departures indicative of a campaign likely to get underway soon. white house announced communications director kate beddingfield will step down from her job end of this month. will be replaced by ken lebolt. served on three presidential campaigns. recently assisted biden ad spin station getting supreme court, ketanji brown jackson up to the supreme court. the president has not made up his mind officially he is going to run again.
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all indications that is exactly what happened. despite polling suggest americans may want to see someone new inside the west wing. a associated press poll taken last week, majority of americans, 78% do not want to see president biden to run again. even a ma sword of democrats want someone new. the president said those polls may not be -- president biden: that is not exactly what i hear, doing well during the re-election i told you from the beginning. >> reporter: didn't know you have to have subtitles for that. the president basically doesn't necessarily believe the polls will be out there, that he also believes americans will stand behind him going into 2024. the big question will we see anybody challenging him in the democratic party. the president spent much of last week in battleground states. remember he was in wisconsin, he was in florida. staying closer to the d.c. area.
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will be in maryland for an event on the economy later on this week. still no word, ashley whether or not we'll see the official announcement for the campaign in the next few weeks or not. ashley? ashley: we're following it. mark meredith at the white house. thank you very much. look at this headline, the new red wave, it is already here. there it is. joe concha wrote that. he joins me now. good morning to you, joe. what do you mean by that? >> ashley it is remarkable when you look at the census numbers, reports from moving companies like u-haul, the national association of realtors. they have all done studies recently. they have all released data. all show a mass exodus out of blue states like california, new york, illinois. we're talking about residents. we're talking about businesses. all those states as you know are run by democrats and those seeing the major population gains include, florida, texas, tennessee, north and south carolina. those are all run by republican governors. you look at the top three
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reasons? taxes, crime, traffic. with more people being able to work from anywhere at anytime, ashley, those with office jobs don't necessarily have to quit the positions or leave their companies. think about it. when you're faced with a choice, should i live in california where the state income tax is 13.3% or new york and new jersey where i live it is above 10%? my options could be florida, texas, tennessee which have no state income tax? it's a no-brainer, ash. ashley: yeah, but you know what? you say no-brainer but some of these people are forced to leave because of policies of the democrats and left-leaning decisionmakers, doesn't necessarily mean they're going to take a you know, go to a red state say, you know what? the republicans are great. >> well, the numbers seem to indicate otherwise, right? you see many new yorkers now moving to florida for example. obviously new york is a blue state. they're going to a red state. florida actually used to be a
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purple state, now it is ruby red based on ron desantis' 20 point victory. if desantis tries to run for president, he has a pretty compelling elevator pitch. would you rather live in country resembles, florida, low tax, or country like california, highest taxes in country, run away crime, large commutes in and out of largest dis? it is not a bad pitch, ashley. ashley: not bad at all. he is looking very strong right now. i want to get into this joe, ceo elon musk criticizing "the washington post." they need a thorough housecleaning after some reporters claimed some of his scientists had covid denialist agenda. twitter users, why don't you just go ahead buy the paper? i'm not sure jeff bezos would let that happen, but what do you think? >> that would never happen in a billion years, right? they are big rivals. ashley: right, right. >> but bezos is looking to sell
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the paper all indications say that. recently there were layoffs at "washington post" as many outlets across the country. overall though, when we're talking about this reporter that you just mentioned, her name is taylor lorenz. she is not a reporter. she is a professional doxxer, professional victim in many case. she agreed with china's covid zero policies as far as lockdowns were concerned. including welding people into their apartments in certain cities. even one apartment building firefighters couldn't get to because they couldn't get into it. she supports those kind of measures here in the u.s., perpetual masking, perpetual lockdowns. says covid is very much with us. it is, but we learned to live with it. majority of americans say keep the way things are instead of going back to way things were in 2020. ashley: she should about back to beijing if she likes it.
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joe, thank you very much appreciate it. billionaire mark cuban is weighing in on chat gpt. what is mr. cuban saying? lauren: be careful there are very few guardrails in place to help you determine fax from fiction. listen here. >> not about who controls twitter, who controls a.i. models and the information goes in them. once these things take on a life of their own, that is the foundation of a chatgpt and da vinci 3.5, taking on a life of its own. so the machine itself will have an influence. it will be difficult for us to define why and how the machine makes the decisions that it makes and who controls the machine. lauren: it is like, trying to figure out the algorithm on steroids, right? then he said look, millenials, gen-z, younger people, they are more native with the stuff. though will be better at deciphering the noise. his generation, gen-x, those older not so much. we might believe what artificial
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intelligence is telling us is fact. ashley: maybe. very interesting conversation. lauren, thank you very much. now this, oil prices are up after russia said it is going to cut production in response to western sanctions. this as president biden continues his attack on oil companies. jeff flock will have all of the details on this report coming up next. ♪. (fisher investments) it's easy to think that all money managers are pretty much the same, but at fisher investments we're clearly different.
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this means they could garnish your wages levy your bank account and even seize your property. tax network usa, a trusted tax firm can help protect your income and assets today while quickly settling your tax debt. but you have to act now while you still have options. call tax network usa today. ♪. ashley: russia announced it will cut back on oil production by nearly 500,000 barrels a day in response to western sanctions. jeff flock this morning is live in philadelphia with the latest,
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and jeff, what does this mean for gas prices? >> reporter: well, i don't imagine it is anything good anytime you cut production but at this point nothing bad yet. take a look at the latest numbers on gas prices, ashley. 3.41 the average gallon of regular now. that is down six cents in the past week, up a from a month ago but down compared to a year ago. the sanctions and all on the russian oil which perhaps sparked this production cut really haven't had a tremendous impact. you look at brent, it got a little bit of a bump when the announcement came last week but hadn't done much since then. down 85, $86 a barrel. wti here in the u.s. under $80 a barrel. the prediction brent could go to $100 by the end of year in december. of course december is a long way away. the administration not changing policy at all in response to the
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russian announcement. john kirby saying they're using oil as a weapon again. >> mr. putin is willing to weaponize energy and this, this move if it proves to be true, doesn't come as a big surprise as reaction to the price gap and it just shows you the lengths he is willing to use resources like energy again as a weapon. >> reporter: but the reality, ashley, this weapon may be a little less powerful. you look at the numbers, what russia is getting for its oil? right now according to their own statistics quoted by reuters, they're under $50 a barrel for oil from the urals. that is down 42% compared to what they were getting a year ago. one analyst quoted by "the wall street journal" says russian companies just cannot find buyers for all of the oil they are producing. so perhaps the sanctions and the cap having some impact. maybe russia you know, they're
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not making money on the oil they're making, maybe she should stop making it? you can always use more oil though, couldn't we? >> reporter: we certainly could. jeff flock in philadelphia. jeff, thank you very much as always. by the way opec's top official is urging countries to invest in more oil. lauren, what? what about climate? lauren: i know, they work hand in hand. oil companies should have a seat at the climate table because green needs fossil fuel. they have to fill in the gap right, when the wind and sun can't cut the needs of people who need energy. these comments came from the opec chief. he also says the oil industry is plagued by years of chronic underinvestment, suggesting they need $500 billion a year in investment in fossil fuels until, not a decade, like biden says, but the beyond and beyond, until the year 2045.
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ashley: tell mr.widen that. lauren, thank you very much. now this, the department of transportation set to offer 7.5 billion in subsidies to elon musk but only if tesla adds chargers used by its competitors to their own charging stations. the move would give a standard for ev makers including ford, hyundai, honda, general motors and more. hyundai said previously he is open to the idea of combining those chargers. all right, still ahead the governor of michigan, gretchen witmer is called out using tiktok. she is defending her use of the app. we'll have that story coming up. the virginia state senate just remove one of governor glenn youngkin's nominees from the state's board of education after she defended the constitution. that ousted board member will tell us all about it next. ♪.
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ashley: the missouri attorney general just launched an investigation into washington university's transgender center at st. louis children's hospital. this after a whistle-blower accused the hospital of lying to the parents of patients. mike tobin joins me now with this remarkable story. good morning to you, mike worth worth good morning that is exactly it. the attorney general launched this investigation into a whistle blow ear es claim that the transgender center is harming children an parents are left out of the youth. washington university transgender center at st. louis children's hospital. the facility is being accused. the whistle-blower said it provided experimental drugs, puberty blockers without complete informed parental consent. further the whistle-blower said there was no attempt by the center to treat underlying mental health issues or track bad outcomes. the attorney general release ad
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statement reading in part, we received disturbing allegations that the individuals at transgender center have been harming hundreds much children children each year using experimental drugs on them. his office is thoroughly investigating to make sure no children are harmed by individuals who may be more concerned with a radical social agenda than the health of children. parents of children treated there quickly came to the defense of the center. saying the attorney general is basing the investigation on a statement from only one person. the defending parents say they are very closely involved in theirs treatment. >> a transgender child, if he doesn't, i don't think he does i don't think he should be saying anything about this. please ask the parents of these kids. we know what is right for our children. >> reporter: now washington university is also released a statement saying they're very alarmed by these allegations and the staff is examining the facts to determine what exactly happened. ashley? ashley: all right, mike tobin, thank you very much.
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the virginia state senate just removed one of governor glen youngkin's nominees from the state board of education. this is one week after she defended the constitution and spoke out against socialism. that apparently got her kicked off the board. that ousted barred member, suparna dutta joins me now. good morning to you. tell me more about exactly what happened? >> good morning. thank you for having me on your show. ashley: of course. >> i -- wife of senator tim kaine talked about, you know she said that the constitution was not a remarkable document. i pushed back. i think the constitution is a remarkable document. it enshrines individual liberty like nowhere else in the world. i think the other thing was that she also objected to the word socialism being included along with communism as a system
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incompatable with individual freedom. in a comment to the board she said that some rules are best served by a centralized government. i come from a country founded as a socialist country and i, in a visit, i will give you one example. in a visit over the last five years to india i stood with my dad in a line just to pay the phone bill and to get the internet connection, the speed changed. they moved us from the, routed us from room to room. this same thing can be done in this country with a simple phone call. so i looked up and just encyclopedia britannica what socialism means. i give you one line what it says. in britannica, as socialists see it, true freedom, true quality, requires social control of the resources that provide the basis for prosperity in any country. and it is a doctrine that calls
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for public control rather than private control of property and natural resources. i think our children should be taught better. ashley: yes. yes. couldn't agree more. unfortunately because you pointed all of this out you got booted from the board. i mean you have no, you have no way of fighting it? is it just a done deal, you're off the school board? >> it's a done deal. it's, i did not indulge in group think. i wanted to have my own personal viewpoint and i thought that that was welcome. apparently not. just one week before that vote there was a unanimous, i was voted unanimously in the senate privileges and elections committee which is majority democrat. so what changed in a week? the fact i stood my ground. ashley: yeah. yes, good for you. it's the cancel culture at work
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again. suparna dutta, thanks so much for sharing your story with us as disturbing as it is. thank you very much. >> thank you. ashley: let's move on. yeah, thank you very much, suparna. fascinating stuff. that is the end of this hour. coming up we have all sorts of great guests, tomi lahren, she will be along, miranda devine, kevin o'leary, oh, boy, the 11:00 a.m. hour of "varney" and company is coming up next. ♪. ...
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