tv Varney Company FOX Business April 13, 2023 10:00am-11:00am EDT
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stuart: papa has got a brand-new bag. james brown. that is new york city. bright sunshine, blue sky, good stuff. 10:00 eastern. the markets are still showing green especially the nasdaq. it is up 2. 7% at the producer level. nasdaq up 100, dow scraping out of 7 deck again. look at the yield on the 10 year treasury, yields came down across the board like they did yesterday. 338 on the 10 year right now. 8280 to be precise. now this. i am getting tired of the government telling us how to live. why can't we make our own lifestyle choices, the latest example of do this do that
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government is the abolition of the combustion engine. they got new rules drawn up by bureaucrats, not legislators. you have no voice. 10 years from now, two of three vehicles sold in america must be electric. there's a few things wrong with this. first of all, get out of my house, my garage. i will decide if i want a gas powered car. i thought america was the land of individual freedom, not collectivist groupthink bernie sanders land. wearable electricity come from? you can't generate enough of it and the grid is a mess. breakdowns and much higher utility bills are coming and sows the gravel for materials we need to produce the ev batteries. lithium is vital, there's $1 trillion of lithium in afghanistan and the chinese
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swooped in. yet again biden's green policies means rewards for china. look what is coming down the pike, $1.2 trillion worth of green spending am subsidies, special treatment for favored groups, energy inspections. and pete buttigieg is in charge of a big chunk of that money. a classic example of top-down socialist government. a command economy. you will do this and you will like it. biden is using climate to fundamentally change america and the voters can stop him. second hour of varney just getting warmed up. some support here. jason chaffetz with me. are we being forced into a way of life we don't like?
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>> i loved your take on this. they had the green new deal but couldn't pass it in congress so they do it through executive fiat, rulemaking, trying to get rid of lightbulbs, another thing, mandating, giving monopoly to china. they are in china. we don't have the ability. the greenys don't like nuclear. nuclear is the cleanest way to make electricity. they don't understand how to make electricity let alone store electricity, and how is the average american going to afford this? if you put an electric car in your house, you need a $500 charger and need to hire an electrician to do that. stuart: do you think voters are
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with this green president biden or against him on this issue? >> it is a far green lefty agenda led by elizabeth warren and other radical tree huggers out there. they are not -- but again they do this in the darkness of night. president biden is overseas and the epa director talks about new standards, emissions standards. what a chicken. the president should have been here to announce it himself. it is not palatable with the majority of americans. stuart: four florida republicans have endorsed donald trump, not desantis. reportedly, the call to delay or change their mind, seems like trump is walking away with the nomination. what say you? >> donald trump is the most formidable person in the room, former president of the united states with the most loyal following.
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i thought his best move was in east palestine when they had that explosion in president biden didn't go, you started to see, you saw donald trump go and you started to see poll numbers take up from there and there's a lot of sympathy for the attacks, the barrage of attacks, they are going after him because he's in front. america loved his policies, his policies work to. there's a reason he is out there but there is tim scott just announced yesterday, governor ron desantis, nikki haley, we have a good bench on the right-hand side of the aisle. stuart: thanks for agreeing with me, appreciate the support, see you again real soon. let's get back to jennifer granhome, and how they affect the climate push.
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>> hi fossil fuel prices hurt the clean energy push. you would want an electric vehicle, maybe that's not the case. the case is people don't trust clean energy, that they can keep turning on the light and keep the car running on that battery, that they are going back to fossil fuels for safety and reliability, but fossil fuel prices are high because they had ministration keep saying i'm going to put you out of business so we have a conundrum, the price of traditional energy is expected because the white house and the price of clean energy is expensive because the white house is ramming it down our throats. what do we have, 5% of new car sales or evs, 5.8. in nine years they want that number to be 67%. do you know what it cost to replace the battery?
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tens of thousands of dollars. stuart: not for tens of thousands on each battery. >> i know what is expensive. i want to know how many are buying used evs? you have to replace it. stuart: more shortly. >> my blood pressure is going up as i listen to this. stuart: say your piece, what have you got? >> what are you talking about? stuart: you like top-down socialist government? >> i say rules, regulations, fees, fines, mandates, don't have enough money, debt and deficits. they are trying to take over energy, they took over healthcare, trying to take over everything and for some reason a lot of people take it and there's plenty of people that aren't and hopefully we can fight that.
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stuart: i knew i liked you. >> amazing to watch, what do you tell people in the midwest driving through the planes, they have to drive 500 miles. stuart: good question. back to the inflation report, 2.7% inflation on the producer price index, i call that a pretty good inflation report. does it simulate a stock market rally? >> inflation topped out last summer and you are getting the fruits of that and it should, don't know if you will -- there's a fight going on. high valuations, bad previous earnings, lower interest rates which should be good at a fed that can take the fed funds rate down if they want to and it would be no problem because the 10 year yield is doing its job, the fed is too far high.
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i expect they will be able to come down but high valuations. stuart: i am looking at the nasdaq, 133 points. lower interest rates, big tech does well. on board with that? >> lower interest rates will give tailwind to tech. you have two days in a row. they reversed it down so you are getting it back today. some of the biggest movers of the year are like facebook, they are down 30% to 50%. if that doesn't change, they will not go that far. if they accelerate the earnings we could have a decent move. stuart: the bank stock is tomorrow. next week, everyone is doing a. i don't see everyone warning
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drastically, i don't see that. >> they stop, the good news, the big thing is guidance. if everyone comes in, guidance is better. inflation helps us out. great news and the fact the banks of stopped going down is a good start for them. stuart: we appreciate that. lauren is looking at the movers. which amazon is moving $100 a share. lauren: amazon is building bedrock, it is in preview, limited preview mode and it is so awesome because clients can use their language models and that is hard to do. lots of competition. amazon. stuart: stock is up 2%.
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lauren: it is 6%. there profit was 75. stuart: they are the ones with the funny hats. lauren: the lady with the short -- forgot about that. stuart: wind resorts up nicely. lauren: they say mcalinden vegas should support shares going forward. stuart: what about ftx restarting the failed crypto exchange. lauren: a bloomberg report, this could happen in the seventh quarter using money, to go back to customers. i would imagine they would have to get there consent to do this, something they are talking about. do they want to restart? stuart: may be they are true
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believers who want to bail out their investments. gary, gary kaltbaum is still here. what do you make of ftx restarting? >> they can prove they can make money. something could be made of it as long as crypto stays in shape but if you are really strong but keep in mind they came out with 3000 coins, if you are left hanging. 23,000. stuart: thank you. elon musk spars with a reporter from the bbc, accused musk of promoting hate speech on twitter. role it. >> what you mean by hateful content, asking specific examples. >> i want to see -- >> mother example of content, even one tweet.
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stuart: he goes straight at it. brad paisley travel to ukraine with a group of bipartisan group of lawmakers, what exactly the singer was doing over there in ukraine. report in the washington post claims the leaker of us secret documents worked on a military base. foreign policy advisor to donald trump karen skinner is on the document. oh, my daughter gives the best hugs! we're just passing through on our way to the jazz jamboree. [ imitates trumpet playing ] and we wanted to thank america's number-one motorcycle insurer -for saving us money. -thank you. [ laughs ] mara, your parents are -- exactly like me? i know, right? well, cherish your friends and loved ones. let's roll, daddio! let's boogie-woogie!
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>> reporter: he is fit, strong, armed, trained, every thing you could expect from some sort of crazy movie. that' s what a team member of the online gaming check group of 2 dozen gamers told the washington post about the man who allegedly leaked highly classified documents. the leaks began 6 to 8 months ago. the leaker and his friends who share the documents are still at large. here's what we know thanked the reporting of shane harris at the washington post, they spoke to a teenager whose part of the discord group. he described how he met the person he looked up to in this social media chat room during covid. the leaker, he says, is in his early 20s and works in a secure facility on the us monetary base, not clear if he's a contractor or member of the military, this coincides with report the leak came from
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outside the pentagon. according to the post the group of 2 dozen mostly men and boys formed an invitation-only clubhouse. the friend of the leaker who has not shared his name and not been contacted by the fbi explained why he came forward. >> any claims that he is a russian operative or pro-russian is categorically false. he's not interested in helping any foreign agencies with their attack on the us or other countries. he is a younger, charismatic man who loved nature, god, loved shooting guns and raising cars. >> reporter: he says the leaker was not working for a foreign government but there were foreign nationals, what the leaker has in common with past leakers, ed snowden who worked in hawaii and chelsea manning who used a thumb drive to
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download terabytes of classified information, they were all in their 20s. >> it would appear he grew angry with the fact that people paying attention to these documents, as a sign of anger he posted a full document. there is no way he would not know that he knew about this. >> reporter: the question is why the leaker has not been arrested by the fbi. they receive 27 documents showing the depth of us buying in the russian military and fsb. there are hundreds more that have been online and could be coming out. discord said it is cooperating with law enforcement but did not comment earlier. on the leaks documents next week, on april 19th. stuart: thank you very much.
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a former foreign policy advisor to donald trump joins me now. at the washington post a friend of the leaker, why isn't the fbi arresting the leaker? >> it's too soon to tell. the defense department sent an interagency task force trying to come to grips with all aspects of the leak of defense and intel documents. we need to give it a few more days. these documents were becoming known. i think our government is taking it seriously. stuart: you are the professor of international relations. can you assess the damage these revelations have done to america? >> so unfortunate. it comes at a difficult time for the us on the world stage. there is never a good time for documents of such a classified
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nature to be leaked to the public about what's going on, 13 months into the war in ukraine it is a grinding conflict. for our understanding of what russia's weakness looks like is profoundly negative for the united states. documents about china and american officials worrying about what china will do militarily, it goes on and on. it is not helpful in the middle of the biggest conflict and ground war in europe since world war ii but there are many other factors making it difficult for the us apart from that war or concerns about china. the us looks like it is trying to find its footing on the global stage. you have the brick nations that
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you've talked about before. brazil, russia, india, china, south africa, and others, and their newest attempt to move away from the us dollar, away from the united states more generally, that is taking place. on the dilemmas in the indo pacific. these documents make us look confused and we can't not cohesive. stuart: earlier this week, donald trump gave an interview with tucker carlson. he said he had threatened xi jinping, dramatic threats and also he said that he was a brilliant guy. on the one hand he is threatening him saying don't invade taiwan and on the other hand giving him good faith which is important in asia. is that a good approach do you think? >> it is a truthful approach and i believe donald trump said what he reported.
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and he believes his assessment of the chinese leader. ronald reagan said similar things about his soviet counterparts. he was tough with them but also sought cooperation. i believe donald trump was attempting to show he had this ability to attempt to cooperate with a strategic competitor, but also prepared to defect in relations if there wasn't a cooperative dimension to that relationship. i thought it was an important moment he was sharing a diplomatic approach and it took the act on president reagan. stuart: the professor of international relations, thank you for coming back to us, been a while but grateful to see you back here.
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country singer brad paisley traveled to ukraine with a bipartisan group of lawmakers. jo manchin. alicia mark kelly, lisa murkowski, republican. they went to key of sort a surprise visit and a powerful show of support reaffirming bipartisan commitment to ukraine, winning the war post the leak of documents the question ukraine's ability to do so. they met with president zelenskyy and country star brad paisley joins them and entertains them. ♪ ♪ to the place where i belong ♪ west virginia ♪ >> terrible. ♪ take me home ♪ country road ♪ lauren: that was shared by senator manchin. brad paisley said ukrainian folks, might have been a little more appropriate.
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go to omnipod.com for risk information and instructions for use. consult your doctor before starting on omnipod. stuart: producer prices up only 2.7%, significant cut in the inflation rate that produced a nice rally on the market. it faded yesterday. see if it fades today. that was up 130. nasdaq powering up one hundred 60 points. apple is moving. lauren: apple tripled production of the iphone in india and j.p. morgan is saying 1/4 of all apple iphones by 2025, apple will open two stores in india next week. apple is moving slowly from china to india.
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stuart: a quarter of iphones in 2025, pretty rapid transition. do you like apple? >> not right here. the growth has slowed. we get tremendous growth but a lot of companies are moving away from china tiresome of the oversight. stuart: ww, wrestling? lauren: ww e, ww is the parent company of weight watchers. there is no news behind another double digit move, stock is up 77%. it was tuesday, goldman sachs put out a note that said stocks go to $13 because weight watch members go to $23 a month, $90 a month because they can speak
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with telehealth professional, they required a company called sequence to prescribe them the obesity drugs. this euphoria is all in the stock price. >> you get these short swings now and then. stuart: let's look at disney. annual passes went on sale. lauren: they sold out, let me -- the website crashed within 50 minutes because demand was so big. stuart: you are a florida resident. you could get an annual pass on a discount basis. >> florida residents, the demand for disney world is gargantuan. over the holidays it was sold out and some other hollywood studios sold out and -- stuart: at those prices. lauren: as governor desantis picks a fight with disney, donald trump rising in the
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polls, if there is any connection between the two stories. stuart: i don't know the answer to that. >> fly in and out of orlando. it is a big business and harry potter with universal broadened a lot of people too. stuart: the atlanta journal constitution didn't hold back after democrats picked chicago over atlanta about the 24 national convention. the front page of the newspaper read say it ain't so, say it ain't joe, say it ain't so, joe, hugo gordon struggling on the right-hand side of the screen, the editor of the examiner. democrats went to chicago because chicago is a uniontown and atlanta is not.
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what say you? >> i am sure that is part of it. it is highly appropriate democrats should go to chicago, a showcase, crime is rising, businesses are fleeing, and democrats recognize as republicans do that the big fight will be in the upper midwest. republicans chose to walk and wisconsin for their convention service, and that's where the focus would be. it is one other significant thing and that is the snubs to atlanta. the democrats realize that although georgia has been depicted as a swing state, the thing that made it a swing state was donald trump. his interference with the senate elections, last two
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sees, lost the state to joe biden in 2020 but if the republicans pick sensible candidates, strong candidates like governor brian kemp, they win handily. i think the democrats know that the fight is in the upper northwest, they are going to win georgia if trump is on the ticket and they will lose georgia because it is a red state, if the republicans are sensible enough not to choose donald trump as their president a candidate. stuart: good insight. is that a british accent? >> it is. b1 english, scotch, irish? >> english, jersey, and london. stuart: jersey? >> where new jersey takes its name. stuart: that is a wealthy enclave. >> i am one of the few not wealthy people from their. stuart: welcome to america. thanks for joining us. that was a pleasure.
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elon musk went after a bbc journalist who claimed there's been a rise in hateful content on twitter. it was a tense interview. lauren: it seemed like elon musk was interviewing the bbc reporter, james clayton. watch. >> trying to understand what you mean by hateful content. i am asking for specific examples. >> honestly i will tell you, i don't use that -- >> other people are quite similar. >> hold on a second. you see more hateful content. you can't name a single example, not even one. you can't give us -- >> i am saying -- >> you don't know what you are talking about really because you can't cite a single example of hateful content. and yet you claim hateful content was high. that is false.
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lauren: the bbc is responsible, we analyzed more than a thousand previously banned twitter accounts, 1/3 of them appeared to violate twitter's guidelines. stuart: the moral of the story, somebody better from the bbc if you want to go against elon musk. >> my cousin's brother's sister's mother told me about the hateful content. it is amazing. attorneys shouldn't ask questions they don't know the answer to and don't make any statements to elon musk that you don't know what the answer to, he got back in his face and deservedly so. stuart: an interview with elon musk would scare me because he knows more about the subject. staffers for the president forced reporters out before biden could take questions. watch this. >> walk out slowly.
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walk this way. stuart: that looks like a return to the basement strategy. keep him away from reporters please. bret baer on that is next. ♪ ♪ asking the right question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - are you a certified financial planner™? - i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest. that's why it's gotta be a cfp®.
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stuart: the administration announced its strictest limits on auto emissions. they want to force you into electric vehicles. grady trimble at the white house, republicans can't be happy about this. >> reporter: republicans say this proposed rule to drive americans toward electric vehicles is the latest example
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of overreach by the epa. yesterday a federal judge temporarily blocked the epa clean water ruling 24 states, a victory for now for conservatives who say that rule would harm farmers and ranchers. the supreme court also ruled in west virginia the agency went too far in trying to curb powerplant pollution. >> this is an epa runabout, the continual genuflecting at the altar of the environmental gods that this administration does without giving a cantankerous damn what it will cost the american public. >> reporter: that's the former energy secretary. here's the current energy secretary doubling down on president biden's green energy agenda. >> the better choice is to move to electrified transportation because it is so much cheaper
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for you to operate an electric vehicle and to fill up your tank with gasoline. the bottom line, moving to clean is moving to energy security and moving to affordability. >> reporter: no mention how much more expensive electric vehicles themselves are. this is just a proposed rule but once it goes into place it will almost certainly get tied up in the courts like all the other epa rules. stuart: i would like to know where the electricity will come from to power these electric cars. that was a good report and we appreciate it. bret baer joins us. is this a case of overreach by the administration? >> it may be. clearly they are trying to push the transition to electric vehicles, but whether the infrastructure is there, whether people want to purchase
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expensive a car, is not yet seen in the data. they are pushing hard and the question is whether it will fly. stuart: it makes me not uncomfortable, it makes me angry to be pushed into a way of life that i have no choice. why can't i have choice about how i want to live and what car i want to drive? >> that is the battle. usually the market figures things out and the administration is pushing its own policy decisions in the mix. it has done it before and the obama administration with solar like solyndra but now it is in electric vehicles, real push by this administration. blue want take a look at this as biden staffers move reporters out of the room
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before biden could take their unplanned questions. >> walk out close slowly, walking out this way. walking out this way. walking out this way. we are moving. we are moving. >> thank you, thank you. stuart: no questions, no questions. is that a return to the basement strategy? >> nothing to see here, walking, really quite something. this is a busy time. a lot of things happening around the world and this president -- the white house press secretary said has taken more questions from previous presidents and they had to walk that back silently and correct the transcript where she said that. he hasn't. even yelled questions at news
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conferences this president has not -- stuart: he can't keep it up. >> reporters once more. we always want more but this president has not taken -- stuart: do you think he can keep this up? 18 months to the election? no questions answered, just basement strategy for 18 months? >> i don't think so. covid was a unique situation, campaigned a lot from his home. i don't think in a campaign situation where you are going to be out and about that you can prevent yourself from taking questions. they have really shielded him from a lot of the press and he has taken some questions but formal news conferences, let alone interviews, we asked for an interview with president biden every week, haven't gotten that call yet.
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stuart: we will be watching you tonight and that is a promise. 6:00 pm eastern special report weeknights at 6 p.m. on the fox news channel. we will see you soon. still ahead, residents into doesn't states could soon get much needed tax relief because those states have budget surpluses. ashley webster tells us about it after this. ♪ ♪
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it's not something that gives you the jitters. it makes you go through your days with energy, and you're not tired anymore, and your anxiety, everything is gone. it's definitely worth trying. it is an amazing product. stuart: the federal government ran up an extra trillion dollars worth of debt in the last 6 months. contrast that with some states that are seeing budget surpluses and will give it back to residents with a tax cut. i want to know which states are giving tax cuts. ashley: from arkansas to wisconsin, there are 28 states looking to cut taxes.
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it includes florida, florida has no state income tax but just reported a record budget surplus of $21.8 billion. governor ron desantis is proposing to billion dollars in tax cuts for the next fiscal year. that includes a 1-year sales tax exemption on children's items, permanent sales tax exemption on things like baby and toddler necessities and when your tail tax exception on household items that sell for under $25. >> typical family may be saving $1000 with this tax package and some save more than that. that's going to make a difference particularly when we are bracing for continued economic headwinds. ashley: going to make a difference. elsewhere, states like idaho and colorado cutting property taxes, arkansas, mississippi
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male-dominated individual income tax altogether. nebraska and virginia looking at reducing income tax rates. that in contrast a high tax states like new york and california facing a $22 billion deficit. analysts say the reason is obvious. >> you don't have to be left or right or red or blue. if your taxes for the individual are over 50%, you start losing people billions of dollars. that is happening in new jersey, new york, massachusetts. ashley: funny you should say that. new york, new jersey and illinois, along with massachusetts and california, are the most debt ridden states in in the country. on the other side can texas, florida, alaska, north carolina, tennessee have the least amount of debt. north carolina has state income tax. bottom line, less tax and regulation plus a pro-business approach is working.
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just ask florida and texas. stuart: i've got gary kaltbaum with me. you live in florida. what are friends and relatives telling you about california and new york? >> they flock where they are treated best. i have friends in california. we compare numbers. it is stunning. it's not a difference of this. it is gargantuan and spread as far -- one little thing. in illinois they were proposing a wealth tax but also if you left 5 years ago they would try to clawback and have a state senator say these words. you have no place to hide. i want to let you know. stuart: half those people in the midwest are in naples naples, florida on the gulf coast. thanks for joining us, we appreciate it. still ahead, ben domenech, nigel farage, harvard creating
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a council on academic freedom. it will promote the free exchange of ideas, reason and rational discourse. seems like the elites are beginning to understand the value of free speech. that is "my take" and it is next. or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence. ♪ ♪ do the work, before the work. bodyarmor lyte. more than a sports drink. so, you have diabetes, and your glucose is heading good thing the new dexcom g7 can alert you before you go too low. now, that's more peace of mind withthexcom m
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