tv Varney Company FOX Business May 5, 2023 10:00am-11:00am EDT
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stuart: i like this song. tom petty, how can i not make a name of it. a huge thing going on in the background. lauren: the kitchen table is up there. stuart: just for you. good morning. it is 10:00 eastern. to the money. the dow is up 439 points. the s&p is up 1.3% and the nasdaq is up one. 3%. 3%. universal gain of 1.3%. the 10 year treasury yield is going up a little, still well below 3.5%. where is oil? moving a bit higher, 70 one dollars a barrel and bitcoin hovering between 28,000,
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29,000, 29-numtwo. that's the market on this jobs friday. now this. if we are going to spend trillions of dollars going green i want to know what we are getting for our money. soda senator john kennedy. watch this exchange with the deputy energy secretary. >> if we spend $50 trillion to become carbon neutral by 2050 in the united states of america how much is that going to reduce world temperatures? >> this is a global problem so we need to reduce emissions and do what we can. >> how much is going to reduce -- >> 52% of global emissions. >> you don't know, do you? >> you can do the math. we are 13% -- >> if you know why don't you tell me? >> if we went to 0, that would be 13%. >> you want us to spend $50 trillion and you don't have the
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slightest idea whether it is going to reduce world temperatures. we one that is brutal. why kennedy's folksy voice, he graduated from vanderbilt, first class honors degree from oxford. the administration cannot fool americans. president biden wants to be the green president. he is forcibly taken over the auto industry and energy industry trying to take over land use, massive taxes to force us into this green new world. there strategy, is not working. the un climate guys told us it every country in the world met their co2 emissions target the planet would still warm by 2.7 ° celsius, almost double the intended temperature rise, they are failing but don't care. they still take your gas stove, combustion engine car, send a
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government agent to inspect your house for climate efficiency, sensory or climate speech, this is why you will not get a straight answer about what we get for $50 trillion. second hour of varney getting started. ♪ look at this. protest broke out in new york city after a homeless man died on a subway. he was acting erratically, put in a chokehold by a retired marine and the man died. alexandria ocasio cortez says the homeless man was, quote, murdered. tammy bruce has a reaction. >> he is not in the new york subway. new yorkers are afraid. i carry mace, there's a chokehold that will put you to sleep. we've seen that online where
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that has been used in los angeles where it was applauded because if somebody stopped a fight, the irresponsibility that is shocking is as though they want -- a race war or more violence in new york when what we need is more mental health services, more police so a regular citizen is not put in that position. this man according to these reports was threatening people, moving erratically and in the moment it seemed something needed to be stopped and now that person's photograph has been online. it is shocking for a member of the government who knows the nature of what is going on, they feed on the chaos and they want people to look at each other suspiciously. it has got to stop. none of us -- stuart: the left created this problem in the first place.
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they did this in the first place and are not prepared to take responsibly. >> not only that. it would be bad enough if there was just silence. she is throwing gasoline onto this because this is a bad situation for the man who died, was put in that position for everyone on that car, the city itself who knows what will happen? it's worse than not taking responsibility. it reveals this is what they want to. the left always benefits from chaos, people feeling government has to intervene, that you can't trust your neighbors, you can only trust big brother, like living in a dystopian reality. it takes energy to do this and elaborate policy choices. that has to change in new york. stuart: to change the subject,
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not to cut your fire. >> will come up somewhere. stuart: press secretary karine jean-pierre dodged the question why president biden does no more press conferences. >> is the president going to do a joint press conference? we had the leaders of the philippines, ireland, and brazil in press conferences with the president. what is the threshold for which leaders are in a joint press conference and which ones don't? >> appreciate the question. we had a joint press conference just last week. every conversation is different. it's a dramatic conversation that occurs when we talk about what they are doing at the white house but i have nothing more to share on that. stuart: just haven't seen much of president biden. is this the start of the basement strategy? >> he announced he is running for president and he has disappeared. that is what the campaign is going to be. they talk a lot about affecting
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democracy in decline. when you're not willing to talk to the people and you are the person responsible that is an attack on democracy. the silencing and keeping everyone in the bar, that is an attack on democracy. we deserve conferences, we are owed them. this is not a convenience. he is there, he works for us, to tell us what is happening. it seems there's a reversal going on, as though he owes us nothing, we are the worker bees, he will do what he wants, the american people don't want to, that is what they are going to be seeing and we have another choice, another chance to make choices coming up in a year and a half. of the one are you watching the coronation tomorrow? >> i'm not. i might look at some of the clips. i will watch the william and kate coronation. i might go because they are fabulous. that woman is going to save the monarchy. that couple is remarkable and it shows the world considering what's going on we made a
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mistake, i don't know. kate and william are fabulous and those kids will be great and that little lewis kid is going to be fun for the next 50 years. stuart: it was a throwaway question. >> charles has waited a long time. william and kate, fabulous. not just for england's but the world. blue when you got more time than any other guest on this program this week. >> thanks for asking me. stuart: back to the markets. i will call a rally. the dow is up 478 points. we have a market watcher who is on that screen. you say 2023 has been pretty good so far. i agree with that. does it continue? >> we've got momentum, stocks up. every asset class has risen this year. we've got the dollar down, the vic's down, interest rates
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down, everything positive. we are ready to test it. the s&p has hailed about 4000 every single day since the 29th of march. that's more than a month. looks like we are ready to break up. stuart: breakout on the upside? >> breakout on the upside. what is important how the market hasn't reacted since march 9th when the bank issue started. markets are up 5%. the vic's is half of what it was. a lot of positives in spite of that which ended up being a unique break that was not managed properly. stuart: apple's iphone sales and apple stock this morning is up $7, gigantic gain. 's apple the market leader? >> it is always been a great barometer. they made $24 billion of profit
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for the quarter. they sold $50 billion worth of iphones. i don't think the consumer is cutting back. the only thing missing is the sentiment and positive emotion. we have rates coming down. there is a 100% chance that rates will be cut from now to december. the worst has passed as far as the record rate hikes. now the markets can move forward. importantly, we want to talk about earnings, not just apple, but earnings expectations were negative. 80% of companies need estimates and 70% have heat on revenue. we've seen 3% revenue jump on companies. even though they are in less they made more. stuart: breakout on the upside. what we wanted to hear. have a great weekend.
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i have expedia on the screen 8%. lauren: expedia seeing huge travel demand, record bookings were internationally, that is where the business is going. stuart: live nation. lauren: they reported a lower loss. stock is up 12% because revenue rose 70%, first time all live nation markets are fully open in three years. stuart: a couple of big wins. warner bros. and discovery. just slightly. lauren: i know what does that. it reflects the cost related to the merger of warner bros. and discovery but the cfo commented on the streaming business, they are adding subscribers, 4.6 million, it is
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no longer a bleeder. you get those comments, might be positive. stuart: kind of like that. we have a transgender student fighting a female student at a high school in california. the students is allowing the transgender student in the women's locker room jeopardizes their safety. watch this. >> this man is and has been using the women's restaurant and locker room. what about true girls like myself who are female down to our dna, why don't we get a say in whether we are comfortable with this? stuart: it did not end there. we will tell you what she said next. the administration has been unable to contact 85,000 unaccompanied child migrants released to their sponsors. republicans worry many of them have been trafficked into forced labor. we are following that. what will we see when title 42 ends next week? where are these migrants going?
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secretary mayorkas is going to see this. let's go to the drone shot and you can see the migrants lined up your, the blue and white tuned, lining of the migrants they will go down and be processed and alternately transported out. it is all a part of a growing crisis, with title 42 still in place, numbers are off the shots. when the sun goes down take a look here, exclusive drone footage, our fox plate team shot in the early morning hours, the bottom of your screen is the us side. the other side, simply doesn't stop. it is around-the-clock. i want to take you to that exclusive footage in mexico. you can see the migrants coming in droves. they are not slowing them down at all. that is why the stream continues to come. i want to take you quickly out
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to el paso because texas congressman tony gonzalez is giving exclusive footage, the migrants casualty walking into the us unabated. that's why residents of brownsville are worried, they are really angered and concerned about what may happen when title 42 lifts. we were at city council after the mayor pro tem, this what he told us. >> everybody should have concerns. we don't know what we are facing next week and we are at the mercy of what the federal government decides to do and have to deal with it on the local level. we got to take every preparation we can. >> reporter: as you get one last look from our flight team you can see how much
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organization has gone into this. they've done or markable job getting things under control but the word is out to the rest of the world that now is a time you can get in and they can't stop this flow which the message from the administration telling migrants not to come. stuart: griffin jenkins at the border. the white house insists they have taken the crisis at the border seriously. >> i can't say what is going to look like after may 11th but i can say this is an administration that has taken the challenges we see at the border seriously since day one. >> reporter: brandon, what do you think happens next week when title 42 ends? >> it's upsetting when you hear the white house give nothing but rhetoric, they don't give facts to back up their statements and that the issue we face. what we are looking at if we
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look at fact that your viewers listen to facts and formulate their opinions there have been more deaths from migrants than in our history, more people released in history, more united states citizens overdosed from drugs coming from mexico van any twee 2-year period in our history, more profits generated in cartels than in history, those are facts of that is what the white house doesn't tell you. when you look at what is going to happen on may 11th all those numbers are going to rise exponentially. the beginning of april we were apprehending 5000 people. now we are up to 8,000 people a day. the number will continue to go up where it could go up 16,000. we expect it to go up to 10,000 but it could go as high as 16,000. that means more people will get away, more dangerous, come to the united states unless security for the american people. stuart: do we know which state and city these migrants are
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going to go to? >> when we look at sectors, 9 sectors in the southwest border from california to texas, the three sectors that will get hit the hardest are tucson, el paso and the rio grande valley. we will see a huge increase in dell you. they will get hit hardest and we can deal with a thousand apprehensions a day comfortably. once we get to 3000 apprehensions we are pulling resources, we have less then 50% of resources, once we get 10,000 apprehensions we won't have any buddy patrolling the border, the cartels will control the southwest border. stuart: we have a progressive democrat speaking out on the border crisis, he says the white house is not prepared for the migrant surge. even among democrats the party knows there is trouble ahead and are still doing nothing. >> they know there's trouble in they've done nothing to prepare for this. the white house has known this
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was going to come for over a year but put no policy operations in place to deal with it. that's why you have progressive democrats saying this is a serious issue because now the mainstream media isn't going to be able to ignore this. once we had 10,000 apprehensions and more drugs come to the united states they have to start reporting on this. once that happens, the american public is going to recognize this white house has failed to keep them safe. stuart: let's see if they pick up on this. i have my doubts. thanks for joining us, appreciate it. bipartisan group of lawmakers wants to prevent the surge of migrants when title 42 is lifted. who are we talking about and what do they intend to do? ashley: senators kirsten sinema, tom tillis of north carolina, legislation that would grant temporary two your authority to expel migrants
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from the united states similar to what is currently allowed under title 42. unlike title 42 this extension does not rely on a public health order, just a simple law. democrat senator joe manchin of west virginia and john cornyn of texas cosponsoring this bill. if bipartisan. the legislation 60 votes to get by in the senate making a guarantee that it will not pass before title 42's expiration on may 11th. 11 senate republicans sent a letter to biden urging him to reverse course and keep title 42 in place. stuart: republicans want answers from the administration after a report says they have been unable to contact tens of thousands of unaccompanied migrant children. tell me more. ashley: horrible story. many of those migrant children have been trafficked into
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forced labor. 70 republicans in the house demanding the administration respond to the story in the new york times, claims the administration lost contact with 85,000 child migrants and has coincided with an explosive growth in child labor in the united states. lawmakers send homeland security secretary mayorkas and health and human services secretary becerra asking what steps are being taken. after child migrants are encountered at the southern border they are transferred from hhs and released to a sponsor. typically parent or relative often in the country illegally. the data shows a number of unaccompanied minors surged 33,000, in 2020, to 152,000 last year. that an increase of 400% in just two years. another example of the crisis at the border. stuart: thanks.
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you know, and there was never a time that you were too busy. there was never a time you said i'll call you back, you know. i needed to be there to carry you through, just like, you know, some of my friends carried me through. stuart: it's a rally, the dow is up 448 points and the nasdaq up 186, apple going strong, solid jobs report. it has momentum. lauren is looking at the movers and we are starting with a loser which we named lift. lauren: their strategy was gain market share by undercutting uber on price. that killed its margins. the valuation is $3 billion. it was $24 billion in 2019, the
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valuation tops $7500 showing the difference all these years in. we when i was looking at game stocks and one stood out. that was draft kings, straight up. lauren: narrower loss can increase the for your outlook, everything you want to hear strong engagement with the legislative backdrop. stuart: how about bumble? lauren: the board has approved a buyback program, stock is up 3%. the ceo spoke of a global epidemic of loneliness, and they are paying users 30 one%, 2. 3 million people looking to find someone. stuart: i think -- lauren: just assumed. stuart: might not know what it really is. let's get to something uplifting, king charles's coronation is tomorrow.
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prince harry is going so low. will prince harry have a formal role in the coronation? ashley: experts say prince harry will have no formal role. it's being reported that harry will be seated far enough from prince william that photographers won't snap pictures of them. all of this is designed to draw a line under the recent controversy. prince william and prince george will have roles in the coronation but harry will be a spectator. he is expected to fly home to california just hours after the coronation to us attend the birthday party. stuart: thank you very much. royal biographer claims harry and megan could pull a last-minute stunt to steal the
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coronation limelight. prince harry pulling out at the last minute. that is not going to happen. there is no stunt at the last minute. that's not going to happen, is it? >> reporter: i covered harry since he was a teenager, one thing you must remember, expect the unexpected from him. and and it remains to be seen. stuart: what is the scene like. 24 hours before the actual coronation takes place. what's the mood like. >> it is one of excitement. there are huge gatherings in london for the queen's funeral in september but this is more preparation for the mother of all parties.
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up and down the country in villages and in towns, people are preparing for street parties and of all the pubs have decided they will open for an extra two hours over the next two days. that feeling that there is a party on the way. stuart: what is charles's standing? can uss of that? he's not as popular as queen elizabeth but what is his standing? >> he's never going to fill his mother's shoes, he was the most popular monarch who has ever reigned over the country. since her death charles has acquired a lot of his critics by almost adopting a more regal attitude. it was almost when the queen died, prince charles was also put to bed and we have king charles who is more regal, more elevated person.
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stuart: president biden is not coming. do the brits think that's a snub? >> that is a difficult one because no american president has ever taken part in a coronation in britain. the last one we had was 70 years ago when president biden was an old man -- i mean a young man. that's a bad joke. i don't think people are seeing it as a snub but first lady is a great honor for britain. stuart: thanks very much. i know you will have a great weekend and i will enjoy watching it. thanks very much indeed. that is elon musk on the screen, he says the policies that led to san francisco's decline will be the end of civilization. that is strong stuff. steve hilton is going to get into that. knew polls show voters feel the
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are sitting out the spring season, they are sitting it out. they are not putting homes on the market because they would have to purchase a more extensive home at a higher interest rate. they file are locked in and they are right and that is why home prices are staying high. stuart: absolutely right. the latest fox poll shows the economy and inflation other top issues facing the country. madison alworth is at the laurel diner in long beach, new york. how do diners there feel about their financial situation? >> reporter: we are hearing that paychecks are not going far enough, inflation is at 40 year high and they feel it. all week we have been talking to voters and inflation, the economy is the number one issue. i want to bring in larry to talk about finances. you are retired. tell me, how does inflation impact your family and your spending?
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>> inflation put a pinch on everything. i am able to meet my bills. we can't do extravagant things but i'm concerned about the ups and downs of the stock market, my nest egg, concerned about the fed raising rates. it seems possibly reduced jobs by reducing rates. >> reporter: you mentioned the stock market making me think stuart is talking about the market how diligently he checks it. she are you are checking the market. so thank you so much. chris is here with his family. chris, ura firefighter. what your take on inflation and how are we doing is a family? >> the dollar doesn't go as far, gas is more expensive.
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everything is more expensive and it really hits home. we can't do the things we want to do because of inflation. >> reporter: talk about the paycheck. are you making enough to keep up with cost of living? >> got a raise two years ago and due to inflation, it is not that we are struggling but we should be doing better than we are at this point. it was a raise of nothing so basically it is like getting 0s. >> reporter: we got job numbers today and on employment updates, what your take on the economy as someone spending, how do you feel about overall health? >> the economy, people are doing well with the economy. other people are struggling. as far as the jobs report we are trying to get back from two years of covid. i don't see much as far as anything is concerned. stuart: there you have it.
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these are everyday people trying to enjoy their breakfast with me interrupting them. everything is costing more. it's great people are at work but how far the paycheck gets you will be top issue in the next election. stuart: financial reality, thanks very much. we have a billionaire who says moving out of california and going to miami is too expensive. why does he say that? ashley: too expensive even for a billionaire, speaking on a podcast he says home prices in miami make even a mover from woke and tax heavy california too pricey. he says if you purchase a house in miami versus three years ago, paying four times as much for monthly mortgage payment. the economic cost is not enough to offset the woke in the world or taxes or as we have.
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he has a net worth estimated $8 billion as a republican mega donor urging florida governor ron desantis to focus more on economic inequality unless on issues like gender identity and race. more on that story in the next hour. too expensive for billionaires to move. stuart: that is a headline for you. now we have this. vivek ramaswami revealed how much of his own money he will spend on a 24 race. we will tell you how much he's going to spend, a lot. superintendent of public schools and oklahoma labored -- labeled the teachers union a terrorist organization. is that all about school closures? the superintendent is next. ♪
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calming down. dow is up 430, nasdaq is up 200 points. we've got to show you something truly shocking. a fight between a transgender student and classmate in california. what are students saying about that. lauren: confirming the mental confusion of the trans female student, putting their safety in jeopardy. >> it was infuriating when i had seen the video on social media but this man isn't has been using the women's restroom and locker room. the question we must address is why are we affirming the mental confusion of this boy and putting the safety of women in jeopardy by allowing mentally confused men to use women's spaces. lauren: that was powerful and passionate. this was mlk high school in riverside, california. getting that pushback.
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that trans female student had a history of erratic behavior. we are looking at viral video. at one point she slams a female student into a table. that same person was using the woman's bathroom and locker room and the female student say they feel their rights are being left out of the conversation. stuart: where are they? just thinking about them. stuart: colorado teachers union claims capitalism exploits children. has the white house done it? . >> nothing from the national education association why this is apart. i looked up political donations, 98% went to democrats. colorado's governor is a democrat, he slammed the union's resolution that denounced capitalism as exploitation of.
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the question, if you don't believe in capitalism and it is bad for kids, who pays teacher salaries? stuart: why don't we see democrats walking away from the teachers union because is screwing our public schools. lauren: is capitalism to blame for the failing grades? stuart: my next guest labeled the teachers union in oklahoma a terrorist organization. brian walters is the state superintendent in question and joins us right now. is this all about the teachers union shutting down the schools? is that why you called a terrorist organization? >> that is part of it. that's where they started, by forcing our schools into shutdown until they get payoff from the government. they were willing to jeopardize student learning to get more money, more power, that is what they are about. they are pushing pornography in schools, the radical gender theory and fighting school choice.
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the biggest problem they have is putting parents in charge of kids education and i'm not going to back down to this welcome. any means necessary to get more power, more money and putting kids in harm's way. stuart: teachers and the union have come back at you saying public school educators are not getting rich off of this job. what is your response to that? >> union bosses are getting rich. they lie about this. i'm not talking most teachers. they are doing a great job in oklahoma. we are talking about union bosses who take money from teachers paychecks and push radical left-wing ideology, target legislators, boule their way, we are 40 ninth in education. our kids can't read on grade level, they don't know us history. you saw the most test scores. they want to push an ideology, they want power, they want to put this onto our schools and they go back to we are looking
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out for teachers, the union bosses are looking out for themselves, not teachers and not kids. stuart: i have 30 seconds left. do you want to see the d unionization of public schools? >> absolutely. they intimidate teachers into joining. i hear from teachers every week that feel intimidated to join a union, they will be targeted if they don't. unions automatically taking money from teachers paychecks. our state should not help teachers unions take money from teachers paychecks. our teachers should keep that money and what we've got to do, the free market and capitalism made this country great, not union bullying of state governments. stuart: what a pleasure to have you on the show. i agree with you 100%. thank you, see you again soon. joe rogan marked the democrats for refusing to hold primary debates. lauren: he called that undemocratic. watch. >> it is clear this country is
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being run by a bunch of people other than the president. there's a lot of mistakes made. that is how it is. it is not being run well. so you have to go who could do better? could be a republican or democrat and if not a democrat how do we get a better democrat if we don't let the president debate? it is not that democratic, that's not how it is supposed to be. lauren: rfk junior has come out against this and said the system is rigged to. i see this as another example of biden having no respect for the process, for how things work. right? he had half the number of press conferences, one quarter the number of interviews. he's not done an interview with a major newspaper. he goes for the soft questions and influencers. we see his age or any
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vulnerability. stuart: there you go, thanks. martha maccallum, hillary fordrich, steve hilton. because i have a british accent i'm often asked how i feel about the monarchy. i will tell you in a royal edition of "my take" after this. your wyndham is waiting... to help you check things off your bucket list... ...and his. with 24 trusted brands by wyndham to choose from,
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