tv Varney Company FOX Business June 19, 2023 9:00am-10:00am EDT
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again. covid really affected a lot of us in tough ways in new york particularly. >> gyms were closed and everything. >> so to have that community but we're finally getting spirit back to the city of new york so as long as we just don't have anymore dwayne reed's closed down. >> that's right. you could say, does this have anything to do with the election i think it does. i think a presidential candidate who stresses the importance of health, a healthy america will be stronger, because of that. this might include some changes, the tax laws. >> it might. >> it might extend, okay, beyond just alcohol and cigarettes. >> john, krisha, thank you. stuary varney, take it away, sir stuart: if you insist, good morning, cheryl, good morning, everyone. the markets are closed for juneteenth but the political world is running hot. the president campaigns in california today. ron desantis campaigns in california today.
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governor newsom will be there as part of the fun too. could this become a desantis versus newsom, florida vs. california election? more on that coming up for you. top story though, secretary of state anthony blinken did meet with china's leader xi-jinping earlier this morning. some diplomatic bullying here. xi granted the meeting just minutes before blinken was supposed to leave. there was smiles at the photo of , and a bland statement both sides wanted to lower the temperature. a little pressure from xi, and i'm quoting "i hope through this meeting you will make a more positive contribution to stabilizing china-u.s. relations." also, on the show today, a subway slashing in new york. when a man tries too calm an ugly situation he ends up scarred for life and the man who allegedly did it had been released a few days earlier for another violent incident. freed without bail.
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a circle k clerk fired for resisting a knife-wielding shoplifter. she's going to court. we'll have more to say on the sorry state of right and wrong in america today. well it is monday, june 19. the day we celebrate when the news of the emancipation reached texas. june 19, 1865. "varney" & company is about to begin. ♪ ♪ stuart: you know, that's a little odd. i know it's a taylor swift song, but that baseline going in really ominous. what's coming at you, folks, no idea. that's a rather deserted midtown minute at sixth avenue where we're located, and it is a monday. it's a holiday monday.
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don't expect much action in midtown manhattan today. in other words, no traffic jams. let's get straight to this. secretary of state capped off his two day trip to beijing with a surprise meeting with china's xi-jinping. here are the headlines. blinken said there are many issues on which they profoundly disagree. blinken says he reiterated china playing a constructive role for peace in ukraine. taiwan was among the broad range of issues as well. roll some tape. let's bring it from them. roll it. >> we do not support taiwan independence. we remain opposed to any unilateral changes to the status quo by either side. we continue to expect the peaceful resolution of differences. we remain committed to meeting our responsibilities, under the taiwan relations act, including making sure that taiwan has the ability to defend itself. stuart: okay blinken says the u.s. and china agreed on the need to stabilize this bilateral relationship. let's bring it back home here. president biden held his first
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campaign rally over the weekend. during his speech he hit a lot of the classic left wing talking points and i mean classic. roll tape. >> we created 13 million new jobs since i became president. >> [applause] >> that's more jobs in a little over two years than any president created in one four- year term. it was time to end the trickle down economics theory. the wealthy doing well, we all do well. i'm pretty sure you saw it in your home. i saw it in mine. not a lot of trickle down from my parents kitchen table when i was growing up, so we're changing. >> [applause] >> but it's about time. the super-wealthy start paying their fair share. stuart: [laughter] okay. charlie hurt is with me. i'm glad you're here, charlie. >> it's so good to be here. stuart: that was so tired. >> yeah, yeah, no and to borrow a phrase from jimmy carter, it e xudes malaise and i think that pretty much sums up the way
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i think not only, you know, joe biden's campaign is going but the way even democrats are sort of feeling about joe biden, and, you know, he's pivoting also, he's gone from talking about a gun control message over the weekend to turning to the climate, talking about the environment, and all of these things are, all of these policies are job killing, economy killing. this election as you've pointed out many times, this election is going to be about the economy, and he has a terrible record on the economy. stuart: i don't think he can get away with this for very long. >> i don't think so either and i think that the more so many of the media try to prop him up i think it actually sort of undermines him because the credibility of those trying to prop him up but also people when they look at their checkbooks at home, around the kitchen table, they see what's going on. they see the grocery prices, even gas prices. they are down a lot but higher than they were. you know, people really you can't lie to people about what's going on in their own pocketbook
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stuart: but he's out in northern california today. is he ending his basement campaign? he's out and about, air force one flying over there. >> yeah, i think to some degree he's going to do everything he can in order to and he will use the props of the white house, which you can do, to sort of remain sequestered as possible. he's not going to debate which will further erode his credibility but if we wind up with an election that's about the economy, he's going to be in deep trouble. stuart: what do you think to this idea, and it's my idea, that we're paying attention to the second tier election, which is florida vs. california. it's desantis vs. newsom. by the way, desantis is going to be in northern california today. he's campaigning there, and newsom is going to show up with president biden. they are all going to be there. >> yeah, so, i think a lot of people would really like to fast forward and just go right to that debate and get rid of both of the top cards in this , but i do think, you know, there's
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still tremendous enthusiasm for donald trump among trump supporters. they are as enthusiastic about him today as they were six years ago, and the problem for joe biden is that all of the pluses that joe biden brought to the table in 2020 have reduced and the negatives have gone way up for him and so if we do wind up with a rematch of trump-biden, i think that trump has tremendous advantage, even with all of the drag with the indictments and such. stuart: i'm wanting to listen to abc jonathan carl. he looked like he was stunned that trump and biden with neck and neck in the poles despite trump's indictment. >> polls in quinnipiac on a possible biden-trump matchup puts biden at 48%, trump at 44%. this is a poll again taken largely after the indictment. i mean, that's got to make you a little nervous. that's within the margin of
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error and a statistical tie. >> the race was close before the indictment. the race is going to be close no matter what happens. >> what does that say about biden whose barely beating or in some polls actually losing? stuart: he's beside himself that biden is not way out in front. >> he really is, and i don't think the indictments did anything to hurt donald trump. i think if anything certainly among republican voters it may help him but it does underscore the tremendous weakness of joe biden. again, because of the economy, and because of the degree to which the media has gone to such lengths to try to prop him up, and they succeeded in 2020. they managed to prop him up both in terms of protecting him, and also what they did to attack donald trump, and i just don't think that that is going, you know, they have lost so much credibility. i don't know that it's going to work again. stuart: before we leave you or you leave us tell me about china and blinken's meeting with xi-jinping. >> you know, i don't think, yet again, this is supposed to be joe biden's area of greatest
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strength. he's been the greatest foreign policy expert in washington going back about 50 years, and he displays nothing but weakness on the global stage, and i think that that further destroys his credibility in terms of politics and people don't trust him, for good reason. look at the situation in ukraine , in china, taiwan. you know, you can't blame people for not having faith in him. stuart: got it. charlie hurt appreciate it, thank you very much indeed, sir. we'll do a little sport this monday morning. why not? wind am clark won his first-ever major title at the open. that's the u.s. open. watch this. >> yeah! >> [applause] >> he takes down all of the stars in los angeles to win the united states open. stuart: he's 29 years old this young man and he was able to hold off the likes of rory mcilroy, cameron smith, ricky fo
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wler, as well who faded badly in the last day and wind ham clark is number two in the rider cup standings. two new movies came out this weekend. the flash and pixar's elemental. at the box office both came in way under expectations, and look whose here on a monday morning. this guy actually is a movie producer himself. he produced three movies haven't you? >> yes. stuart: did you get some awards? >> yeah, we've done very well in a couple of them with special effects so i've been in the industry peripheral the movie industry for 20 years so i understand it, probably better than a lot of people. stuart: is hollywood failing and i ask the question because they seem to be scared by wokism. they are scared of china. they are scared of islamic terror and they have new rules as to who can qualify to be part of the oscars. yeah, stuart, its gotten so crazy that some of the things that hollywood are doing, i'm finding very hard to believe they are actually doing it,
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because some of my friends in hollywood have called me a greedy capitalist because i've been overly focused on the financial end of the business because i think that it's important that the industry makes money. well, here you have hollywood that's putting movies in theaters and that 90% of the revenue is coming from a handful of films. last year, three films were 90% of the theatrical release movie revenue so now you have a situation where hollywood is, the academy awards are now based on things like inclusion, diversity, so there's rules that movies have to adhere to, to win an academy award and i look at that and knowing that a lot of producers and directors cover" their creativity and now you have politics dictating creativity so now, there's no longer a meritocracy in
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hollywood. there is this wokeness that is going to crush box office number s going to crush revenue numbers for hollywood and i think they need to pivot off this because if they don't, people are not going to forgive them for it. stuart: did you see that "wall street journal" article that said that baby boomers, like ourselves, are sticking with stocks, not so much into bonds and all the rest of it, for baby boomers. that's true, isn't it? older people do stay with stocks >> yeah, because stocks have been resilient. they've rebounded. i mean, let's face the facts. we were starved out of the bond market years and years ago. now we're starting to see you could actually invest in the bond market and get yields in the 5% range which we haven't seen. i mean, eve sat on this show before and i haven't owned a bond since i had a mullet and was driving a camaro, so now i'm starting to buy bonds and every time i do it i have to pinch
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myself to think i'm back in the 80's buying bonds again. stuart: maybe it's time you got out of bonds and get back into stocks, jeff, because there's money to be made in technology and in stocks. >> well because there's the momentum and lately, and i know, you know, lately it seems like i'm not getting invited to any wall street barbecues lately , because i've been saying that to sell into this rally, that it's overdone. stuart: well have you changed your mind? is it time to buy into it? >> no, i can't buy into a rally and i own some of the , there's seven stocks that are doing really well. stuart: yeah. >> and those seven stocks are driving the s&p 500, so a good percentage of the gain is seven stocks. i can't, stuart, and i would love to be bullish. i would love to join the party with all of you, but i can't embrace a market that's so narrowly focused that if you don't own those stocks, you've been left out in the cold. stuart: okay, jeff sica, maybe we'll see you next week, who knows. >> maybe.
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stuart: here is what's coming up , seer just stuff. senator rand paul called for accountable ability over the covid-19 pandemic and he's calling out bill gates. watch this. >> the largest funder of trying to find these viruses in remote caves and bring them to big cities but then they manipulate them by combining them with other viruses to create viruses that don't exist in nature. this has largely been funded by bill gates so there's a responsibility there. stuart: all right, i'm going to talk to the chair of the powerful chair of the homeland security committee, mark green. ask him all about that in just a moment. special counsel john durham testifies on the hill tomorrow and house oversight chair james comer says he wants more witnesses to come forward for the "biden's family influence peddling probe." we're getting close to accountability. i'll ask former speaker newt gingrich who joins us after this ♪
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♪ ♪ stuart: okay, so it's a lovely shot of des moines, iowa right there, 74 degrees and that looks like a really nice day. got it. the house intelligence committee will be holding a closed door meeting with special counsel john durham. that's tomorrow. the chair of the committee blasting the buyers that fulled a number of these investigations roll it. >> every investigation that has occurred including now the durham report is conclusive ly states this was the
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result of people who had political bias undertook an investigation based upon total clinton campaign-funded research that was uncorroborated and turned out to be even untrue stuart: congressman turner said he is committed to making sure this never happens again. while durham is set to appear on the hill tomorrow, the chair of the house oversight committee, james comer, says he plans to bring in more witnesses for the alleged biden bribery scheme. the author of the book "march to majority" newt gingrich joins us this morning. newt, always a pleasure to have you on the show. big picture question to start with. >> pleasure to be with you. stuart: are we getting closer to real accountability here for the biden family? >> oh, i think we're learning more every month, and everything seems to fall into place. they are a crooked family. they took great lengths to hide the money. they've setup all sorts of different phony corporations as
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pass throughs, look, no serious person believes that hunter biden got $3.5 million from the widow of the mayor of moscow, because he's a nice guy, where he got money from kazakhstan because he's a genius or got put on the board of burisma because he's an expert of natural gas or sent a diamond by a chinese oligarch because he's a terrific dinner partner. the fact is the bidens went around the planet from the vice presidency on basically peddling influence and everybody knew they are getting a piece of joe biden. you have to really suspend total disbelief to think this doesn't involve the president of the united states in a way which we've never seen, being corrupted, selling influence to foreign dictatorships. it's astounding. everything that was false about the russia hoax turns out to be true about the biden conspiracy. stuart: so many people say that
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china has something on our president. that's the reason why we're sort of going easy on china, and we are being bullied by china. do you think china's got something on our president? >> well, let's start with the fact that a surprising amount of chinese money went to the university of pennsylvania while the university of pennsylvania was paying not just biden but they are paying nine members of the white house staff and the secretary of state. a great deal of chinese communist money went to the university of delaware which houses 1,850 boxes of biden's material. part of the secret documents that biden had misplaced were you can't make this up in a novel were in chinatown in an office paid for by the university of pennsylvania which i believe basically used chinese communist money for. now, the university of pennsylvania won't release the internal details. the university of delaware won't release the internal details, so
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at some point the congress is going to have to subpoena them and force them out in the open, but i think that at a minimum, the chinese communist and so many different ways, none of these billionaires were helping hunter biden or joe biden or joe's brother without the approval of the chinese dictatorship. it's just not possible. the mayor of moscow's widow didn't send $3.5 million without putin approving it. it's literally not possible, so what you'll have is some of the most dangerous opponents we have, were deeply financially committed to the biden family, and to the team around the biden family. i think it's amazing that the press has not looked at the fact that nine people in the white house plus the secretary of state were being paid by the pen biden center while the university of pennsylvania was collecting millions and millions of dollars for the chinese communist. stuart: it's just exasperating where is the story in the new york times about these? where is it?
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please? i'll have to change the subject, newt, with your permission i will. the contest that's getting the most interest in the forthcoming election, to me, is between desantis and the as yet undeclared gavin newsom. that seems to me to be emerging as the second tier of this election. it's getting a lot of interest. what do you say, newt? >> well, look. i think if you're donald trump and his team at mar-a-lago, you're thrilled. desantis doesn't have a problem beating the governor of california. desantis has a problem beating the former president, and if desantis can't get his mind off of whatever it is that gavin newsom does next and get back to focusing on trump, this nomination will be over, so there's only one real game and that's to get to be the nominee and to the degree that desantis has gotten off on swapping barbs with the governor of california, governor newsom
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he's actually in the wrong race. the race for desantis is to be the republican nominee and if he's absent because he's busy having fun, fighting with gavin newsom, that just makes donald trump weak. stuart: one last one. do you think trump versus biden, do you think that will actually be the match-up in november of next year? i don't. i suspect that maybe neither of them will be front of the campaign. >> [laughter] okay, well, i hate to disappoint you. i've come to the conclusion and i'm going to write a newsletter in gingrich 360 about this. i think biden is much more formidable than we think he is because we don't measure things the same way the democrats do and i think trump right now is very formidable. if you're 30 points ahead of your next rival, that's a lot of ground, and trump has run nationwide twice. he has an organization
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nationwide, and he's frankly the best campaign erin the republican party by a huge margin. he likes it. he enjoys it. he's extraordinarily competitive and, you know, barring something major happening i think he will be the nominee. stuart: okay, newt, i have to leave it there but i could talk politics all day with you. newt gingrich thank you very much for being with us, sir. always appreciate it. >> thank you. stuart: coming up a critical shortage of life saving cancer drugs, highlights the u.s. dependence on china. we're live at a hospital to report on drug shortages, right after this. ♪
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thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪ there's no going back. stuart: yes, it is juneteenth, june 19 and the markets are closed for this holiday. we do have some futures action though. mostly to the downside, but there's a very limited amount of red ink on the futures market this morning. keith fitz-gerald with us though this monday morning, here we go. keith? you're buying tech this week, aren't you? >> i am going to do my very best, stuart, and here is why. if we get headlines that are
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cross currents we get people upset that usually works in my favor if i've got a long enough horizon. i'm going shopping. stuart: you're going shopping for tech companies specifically right? >> yeah, because that's where people are most nervous. that's where the institutions are going to sell hardest fastest first and create the biggest discounts if i'm right. stuart: in other words look the microsoft of this world, all of the rest of them, they could have a main or dropdown and you'll be jumping in. any dip you're buying big tech is that right? >> well again, not in discriminately. i'm going to buy very carefully, very deliberately and look for the freshest apple, the green its banana and look for things that make sense, not just blindly jump in but use it to my advantage. stuart: okay there are, i'm going to call them woke companies. anheuser-busch, target, disney. those stocks are all at a low because of what's been happening in the woke world. you would not buy into these companies at this point, would
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you? >> no, i wouldn't and here is why. people can be or do anything they want to be. that's just the human condition, but, where i have a problem is brands that betray their customers, and i don't have the luxury of taking sides in my capacity as an investment strategist. i have to hunt for an opportunity. to me brands that betray their customers have a tough road back i'd rather go with alternatives that don't that clearly have profits in mind. stuart: we've also got this report this morning from goldman sachs. they are cutting china's economic growth outlook. there's a number of other analysts like bank of america, jpmorgan, ubs all downgrading beijing's economy. they say the momentum from china 's reopening has favored, faded, i should say. do you think that has any impact on our markets here, keith? >> it's sure going to, because people are going to make concerns about how many units is tesla going to sell. how many iphones is apple going to sell so really the concerns are misguided because they are
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about american brands selling into china. the real impact if china slows is what chinese companies are doing with regard to the exports and the rest of the world. i'm not sure, stuart, that equation is clear. stuart: okay tell me how you see this week playing out overall big picture. how are we going to end up, keith? >> boy that's a tough one, stuart. i think we'll get volatility. we've got a roster of fed on top because everybody will have a microphone this week, we'll have more data, we'll have people scared of tech and we have a mounting group of perma-bears out there doing their best to create issues in the headlines and that's usually a sign wall street wants to take profits for investors with the right perspective and the right time horizon that's an opportunity. stuart: yes, to some, it's a dip buying opportunity. got it. hey, keith you're all right thank you very much, keith fitz-gerald we'll see you again soon. >> thank you, stuart. stuart: serious subject here a critical shortage of life saving cancer drugs, all across the country. lydia hu is at a hospital. i'm going to ask her how are
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they handling the shortages there, lidia? reporter: good morning, there, stuart. well, they are trying to be strategic about how they use the drugs they do have. offering them to patients that are most likely to have the best outcomes and considering alternative treatments when possible. right now, the fda is tracking more than a dozen shortages on cancer treating drugs across the country and today we're really focusing on two. carboplatin and cisplatin. they are considered the backbone of cancer treatments. they are used to treat cancers like breast, lung and prostate cancers and just over the weekend, stuart, i talked to a patient from florida whose undergoing treatment for breast cancer. she was not able to get carboplatin for her first round of chemotherapy treatments and as you can imagine, she's very concerned. listen. >> we want to live. i have a four-year-old daughter, you know, i want her to see mommy be cured from this as soon as possible without having to continuously worry about a drug shortage.
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reporter: and a doctor here told us that now, the hospital is preparing for more drug shortages or worsening drug shortages moving forward. listen to this. >> it's 2023. i never thought in my career that i'd be dealing with the extent and severity of these cancer drug shortages that we're having today. reporter: and a problem is that many of the drugs or their ingredients come from overseas. u.s. a non-profit estimates india accounts for most of the fda-approved drug ingredient makers coming in around 48%. you compare that to 22% from europe, and 13% from china. this current shortage on carboplatin that we're seeing in the country is caused by a shutdown on a factory based in india. the fda's short-term solution? stuart, importing more cisplatin
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from china, really illustrating, stuart, our reliance or over- reliance on supply chains from overseas. stuart? stuart: and you can't just wave a magic wand snap your fingers and start to produce it here just like that. you can't do that. it takes time. good stuff. thank you very much indeed. there's a new episode of " american built" on tonight. this one is all about the gate way arch. watch this. >> it was a dream ahead of its time. >> it was really remarkable this is being carried out in the early 1960s. the engineers realize they had to make their calculations at night. >> it was heartbreak. >> he did not live to see the arch. >> there was zero room for error. >> there was basically a tolerance of 164th an inch. >> it was a question of millimeters. >> how they built the icon of the midwest. >> it's truly an engineering marvel. stuart: the gateway arch. we've built good stuff back in the day and you can catch all
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new episodes of "american built" at 9:00 p.m. on fox business prime. coming up on this show today, texas is the latest state to ban transgender athletes from playing on college teams. ben watson was a college and professional athlete footballer. he's here with his take on that issue coming up shortly. no sitting mayor has ever been elected president, but that's not stopping miami's mayor francis suarez, from jumping into the race. so how is he doing so far? i'll ask him because he's here. ♪
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stuart: president biden is trying to use his inflation reduction act as a selling point for his re-election campaign. edward lawrence joins us from the white house. edward? biden wants to celebrate the benefits. got it. but what's the reality behind this ira? reporter: exactly. not only does the inflation reduction act not reduce inflation in the near term. it also does not reduce the deficit. the model re-examined the implementation of the inflation reduction act and found out they would actually add $750 billion to the federal deficit over 10 years. now according to the new pen- watteron report the tax credits were not capped and the biden administration used a very wide definition for the critics, thus all the costs went up, much more than the american public were lead to believe. the white house pointed me to this comment about the increased cost from white house press
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secretary karine jean-pierre. listen. >> that is a good thing. it means more private sector investments. more american manufacturing. more jobs. more secure supply chains, and lower costs for american families thanks to cutting-edge technologies. reporter: the white house insisting that the inflation reduction about will eventually reduce the deficit but it could be outside the 10 years that the pen-warton model looks at. the administration consistently points to dates at some point in the future when talking about economic progress and deficit reduction. republicans say we don't need to wait that long. >> we can and will do it if we're given the opportunity. we've got to unleash the great american economy, american ingenuity, american technology and we need a strong, strong foreign policy. we need a strong leader in the white house. we just don't have one right now reporter: and the president about to leave his delaware beach house to go to california. he's going to talk about climate
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change. not the economy and then he's got two campaign events out there. back to you, stu. stuart: got it thank you, edward lawrence at the white house. stephen moore with me. big picture question for a start will the inflation reduction act actually increase inflation? what say you? >> well, certainly, will increase the deficit. i think you just saw with those numbers showing that they low balled all of the estimates of what all these new programs including the green new deal would cost and by the way it seems like every few weeks that go by, stuart, we're seeing new estimates these programs, you know, remember that song by britney spears "oops i did it again" that's what the biden administration did with this reduction act. good news is inflation is 4-5%. this time last summer, stuart the inflation rate was 9.2% so we are finally making some progress although we're still twice as high as where we should be but look i think that bill
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was an a bomb it nation. one of the first impacts we've seen of the inflation reduck act because one of the main reasons we cut costs is by taking money out of the drug industry and guess what's happened? the amount of money going into new drug development and research is falling very rapidly that's not a very good way to reduce the deficit. stuart: we've got, steve, a new survey, and it shows nearly two-thirds of adults age 65 and over, two-thirds of them, 63%, have money in stocks and they are staying in stocks. why are all the people, like ourselves or like myself, certainly, so keen on stocks do you think? >> well i'm not quite there yet i'm 63, not 65, but over your or my lifetime, stuart, we've lived through the greatest bull market expansion and the greatest period of wealth creation in the history of the world. come on. do you remember in 1982 or 198l was at a thousand. now it's at 34,000?
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this is, the people who like you and me are baby boomers have lived through an incredible expansion and the real rate of return on stocks through good times and bad over the last, you know, 40 years has been about nine to 10% real, so we have lived through an era that hopefully will continue where stocks, american stocks are the best place to put your money stuart: i wish we could persuade youngsters that the stock market is a good place to be over the long term. it drives me crazy when youngsters go to a company, get a job at the company, and don't join the 401 (k). they just let it ride. i think we should have a change in the law and have it so that you get a job some place and you automatically are enrolled in the 401 (k) and you have, if you want to get out you can get out but you're automatically in. what do you say to that? >> this is one of the most important, you know, finance lessons for any young person. what was it albert pujols
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einstein once said the most powerful force in the universe, stuart, is compound interest. if you start when you're age 22 or 23, putting even 10% of your paycheck into a 401 (k) plan you will retire a pension millionaire. there's absolutely no question about it and the real shame is that we didn't allow workers to do that with their social security. i've been talking about this for 30 years, stuart. if we had allowed people to put their money into a 401 (k) account rather than the black hole social security, every single person retiring today would have more than $1 million in their account. stuart: and it will be their money. >> exactly. exactly. and you could retire whenever you want to. you can make your own decisions. it's one of the great freedom issues we should start doing that tomorrow. for young people the worst investment you will ever make is social security. it's ripping you off folks. stuart: and have a nice day. stephen moore, thank you very much indeed, sir, we'll see you again soon. >> thank you, stuart. stuart: now this. gen z embracing an old way to
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keep budgets in check. so we're told. according to a report from credit karma, young adults are ditching credit cards in favor of something called cash stuff ing. is that a building up debt on their credit cards young people are going to the bank, withdraw ing their allowance, whatever that is and if they can't pay for it within their wallet, they won't buy it. okay? they say it helps force them to stick to a budget and not over spend. sounds good to me. coming up, a former teammate of the transgender swimmer leah thomas accuses u- pen of sciencing swimmers, we'll hear the fight for women and girls across the country that's at the top of the 11:00 hour. the government accountability office going to investigate the alarming rise in whale deaths on the east coast. 40 have washed up so far this year. are wind turbines to blame? jeff flock reports after this.
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stuart: whale deaths are rising on the east coast and there's an investigation to see if these deaths are connected to offshore wind turbines. jeff flock has the story. all right, jeff, what? 40 have washed up so far this year on east coast. are officials blaming wind turbines? reporter: well, some are and some aren't, stuart, and let me just say parenthetically i'm gratified to see that you're concerned about saving the whales. i didn't necessarily see that coming but thank you for that. yeah, 40 and this is 40 just this year, and curiously enough it's republicans who are concerned about this. the people you might think be , the democrats, not so much. you look at that map it's all the way up and down the eastern seaboard and curiously enough this is right where all of these new wind turbine leases are now in the process of being mapped and they think maybe the sonar
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connected with that is causing the whales to get off course. right here in manasquan where i stand just up the beach, this year, a huge whale washing ashore really freaked out a lot of the folks that lived here and never this number, and so chris smith, who is a long time member of congress republican from new jersey, tough to be a republican in new jersey sometime, he said hey, we need to do something about this. the democrats are saying nothing about it. the administration is saying nothing about it so he's gotten the government accountability office to do an investigation to see what the impact of these turbines are. here is what he told us this morning. >> i think we'll get the answers. we're not getting them from the federal government or from the state government here in new jersey. we're not getting it. we're getting nothing but no problem, just do it. no. we need to make sure that we're not ruining our ocean and everything that lies below, and above. reporter: and it's not just the whales that are of concern. if you look at the map of these
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sights for the wind turbines, the sonar from that and the spin ning of the blades concern about radars and whether , you know, ships can fully communicate. that has not been looked into and that's what chris smith who has a reputation by the way of working across the aisle and trying to get everybody involved is pushing for but you might not have thought it be the republicans out there trying to save the whales. they get a bad rep sometimes i think you know. stuart: i'd just be interested to see , jeff, if there is some connection between whale deaths and the wind turbines if they actually proposed at any point in time to take those wind turbines down. it's not going to happen, is it? reporter: there are so many questions around these wind turbines and the ocean. it's one thing to put them in the middle of texas and kansas and middle of nowhere, no offense but you put them off the coast of here in the water, that's a whole other ballgame. stuart: yes, it is. jeff flock we'll see how that
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take charge of your health care. call unitedhealthcare for your free decision guide and learn more about lowering your out-of-pocket medicare costs and seeing any doctor who accepts medicare patients. oh, and happy birthday... or retirement... in advance. ♪. stuart: that is the rolling stones, can't you hear me, looking at the empire state building on a nice sunny day in new york city. good morning everyone, it is 10:00 eastern. the markets are closed. it is juneteenth. the futures are active, mostly on the downside. i'm looking at 100 points
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