tv Varney Company FOX Business July 10, 2023 10:00am-11:00am EDT
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stuart: the boys are back in town, is not a reference to me returning after two week vacation, i don't know. thin lizzy always a favorite band. that is new york city on a gray and cloudy day, the gallup 200. 10:00 o'clock eastern love have a look at what's going on with the money, the dow industrials are up close to 200 points. we have a solid gain for home depot, walmart, caterpillar, goldman sachs that is not a 90 points to the dow. microsoft way down and that is taking 50 points off the dow, there you have it. the ten year treasury yield moving down this morning, you are at 4.03%, the price of oil $73 a barrel the last time we checked, 7377. bitcoin was holding a $30000 on this monday morning, that is the market, now this, china has not been treating her senior
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officials with respect. the comet's party seems determined to humiliate our secretary of state in the treasury secretary, this got a lot of attention, janet yellen bowing three times to lee, china's top economic official. it is not quite the kowtow which entails full frustration but as a sign of humility which is exactly what beijing wants. the 3 barrels will be used to show china's power, that tape got a lot of news on chinese television. last month secretary of state anthony blinken went to beijing and met by a low rank official, that sent a dismissive message. he was waiting for hours before he was arraigned about spy buildings. a former diplomatic theater trying to show the world the strength of china and the weakness of america. but it ignores and covers up
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china's intensifying problems, they don't get much coverage but they should because china is a world's second-largest economy and become the workshop of the world. did you know china's population is actually falling and aging fast. have a vast unfunded pension liability, they have a collapsing real estate market and a slowing economy. the communist party has a deal with the chinese people, we keep political power and you keep quiet and you will be prosperous, the growing prosperity is under threat, china cannot show it. has to maintain his arrogance, the second hour of "varney" just getting started. ♪ let's celebrate the welcome return of congressman jim jordan back with us this monday morning. congressman what did you make of janet yellen's triple.
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>> is a weakness from this initiation. i put up the story a year end a half when putin first cousin to ukraine and mike pompeo was doing an interview and the host asked mr. pompeo, mr. secretary would this have happened in the trump administration and i thought secretary pompeo gave a great answer, he said the short answer, i don't know. but i do know this, it did not happen in a trump administration and that says it all. with this in administration the weakness joe biden projects from the oval office you see this weather is our secretary of state tony blinken her treasury secretary janet yellen, remember when anthony blinken met his chinese counterpart up in anchorage and he lectured anthony blinken and yelled to him how were a backcountry and anthony blinken sat there and
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took it he did not pushback there's no way that that happens in the trump administration that is the overall problem the weakness that unfortunately our current commander-in-chief projects to the entire world. stuart: what can you tell us about fbi director christopher wray and his testimony coming up before your committee on wednesday, you have the durham report, the irs whistleblower and now an investigation to cocaine found at the white house. are weakening any fresh revelations on wednesday. >> here's what i know time and time again chris ray has told us everything is fine he testified in front of congress and said you can sleep well at night knowing we fix the pfizer process, really 204,000 reasons why that statement is not true. that's a number of illegal inquiries they did to the 702 section of the pfizer law illegal losing scrutinizing citizens 204,000 times according to the new york times. there is a host of problems and we know the justice department has labeled parents as terrorist simply going to school board meeting and we know the richmond fbi field office said pro-life
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catholics were radicals and extremists in of course there's a retaliation against whistleblowers like mr. shapley from the irs that came forward and the d.o.j. kicked them off the case were other whistleblowers have told us about some of the issues and what they face like garrett o'boyle, really get into all the issues in a host of others as well. the main point there is no way republicans in congress are going to be for reauthorizing pfizer in the current form that is due at the end of the calendar year end there is no way were going to do that working opposed to an host of other things as well. stuart: one last one i hope you are watching the show a few minutes ago new york city considering public schools to house migrants during the summer break they say it's a last resort option to manage the search. what do you think about that, using schools to house migrants in new york city because you filled up the hotels and the emergency shelters?
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>> first you call parents terrorist for showing up at a school board meeting speaking for the kids and i put migrants in their building it makes no sense not to mention what they're doing to hotels, talk about driving up the cost, migrants are interschool, and hotels driving up the cost for working families and everything else. this is all driven by the decision that they made on day one. stuart: what are we going to do. >> day one joe biden severin stop building the wall. >> were looking at 5 million that are here, they are not going back, currently they're not working, what are we going to do? >> we passed the strongest immigration enforcement border security law in american history two months ago. it sits in the united states senate i would like to see chuck schumer take the bill up and pass it. i don't think they will because the left controls their party and this is the party says they're open for borders and not building the wall and not remain in mexico and keeping people in the country if they would pass the law and joe biden would sign
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it that would fix the problem it puts back in place the policies that we have under president trump. in addition to that will do our oversight and some suggested this is something being considered in the congress and that the status of secretary mayorkas, he said time and time again things are fine and we obviously know they're not as evidenced by the report you had earlier about what's going on in new york city. stuart: jim jordan you always manage to pack a lot in entering a half minutes. thank you, congressman, we appreciate it we will see you soon. lauren is back and i want to know what governor desantis is saying about the media's role in the election 2024. >> he says that media plays for team biden and he was on with maria yesterday, watch. >> these are narratives, the media does not want me to be the nominee, that's very, very clear, why they know i will be biden but more importantly they know i will deliver on all of these things. >> the worry is if trump is the nominee or the candidate he might have trouble broadening his base that guarantees biden a
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second term governor desantis will join the show at 11:15 a.m. stuart: 1115 this morning. we can't wait, back to the markets, look at the dow industrial. they are up 208 points, we have home depot, walmart, caterpillar and goldman doing very well adding 100 points to the dow and were up 200 as we speak. ryan pain is back with us. in the last hour i asked one of our market guest if the a.i. boom has run its course and it's a bubble which is about to explode, what do you say. >> i'm a little tired hearing about a.i. and if i hear one more time i'm going to cry you don't want to see me cry it's not pretty but it's like a marrows law we get enthusiastic about the impact of technology short-term, may be overestimated, probably underestimated long-term. i think a.i. is real and that we will use artificial intelligence in all sorts of different industries and it will be the
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standard. stuart: it's frequent, big new thing comes along, could be.com in the late 1990s, everybody piles and looking for the winners, they go to the moon and not all of them but some of them collapsing go away, the same thing with a.i. >> a perfect metaphor if you look back at 99 everything that we thought about the internet we had great hopes in stocks like microsoft which i know you love you thing about oracle, cisco, all of these got to the moon and they did nothing for a decade and meanwhile the internet to change our lives to medically and that's what you're seeing now, nvidia that's a stock everyone talks about up almost 200% this year but it trades 200 times current earnings that means if you buy it today you need 200 years worth of profits to make back on your investment. stuart: you would not buy nvidia today? mack it's insane i would not buy it. stuart: wiring not bullish on
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big tech. >> i think it's run its course, technology, and the short term everything has gotten bid up, go back to the late '90s if you but mike is often 99 for 50 years the stock did nothing if you remember and look at oracle it took 22017 to get back to where you were from 1999 when you bought the stock in cisco is the biggest poster child for buying it too high 20 years ago. his back to the same price it was 20 years ago now. i think you have the same risk intact right now. stuart: unfortunately i own a chunk of big tech i'm not sure what and what to do to be ho honest. thank you very much indeed. goldman sachs says india could become the world's second-largest economy. when? >> 2075. so 52 years. okay, look china is number one, india goes into the second spot in the u.s. is number three.
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>> by 2075. >> that is half a century. >> why have so much faith in the long-term outlook. >> the bottom line companies are investing in india and india is investing in infrastructure and technology in their 1.4 billion people so they have a worker productivity base. i don't want to be number three that's a moral to the story. stuart: 2075 is a long way away but you'll be here, i won't but you'll be here. >> i hope will be here in 52 years. >> the movers home depot up significantly. >> jeffrey says home depot is going to 370. long-term demand because homes are getting older you have to repair your home that is inevitable and nothing to do with discretionary spending and they put numbers on it. if you spend $260 extra a year when your home is ten, that never goes to 1200 when it turns 20 and keeps on going. as homes age you're frequently going to home depot and lows.
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stuart: that's why home depot is a five-point. >> they increase their price target for the reasons. stuart: it sounds good to me have a look at icon enterprises, the last time i checked it was up 12% now it's up 16. >> activist investor karl icahn is fighting off the research short seller report that accuses company had been more or less overleveraged that's what the wall street journal is reporting the icon has renegotiated the loans and therefore the stock is up 17. stuart: i see carver which is aaa for mediterranean food. >> this is the company this is susie and you said what is to seek esau's and i said is big on the menu, you don't remember this. >> i highly recommend it, mediterranean. stuart: you like it during the stock. >> it's had such a big move off the ipo but that's a good sign the capital markets are reopening. a bullish sign. >> ipo $22 the stock is at 43 now the brokerage that underwrote the stock or initiating coverage in their all advice with beautiful commentary about how the company is gro
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growing. >> too much optimism. stuart: exactly. thank you. a doctor at yale says all healthcare providers should be forced to wear body cameras so they can be punished if they are racist. doctor marc siegel is going to react to that. i don't how is going to react but he'll react later on the show president biden that america's military information slip during an interview. watch this. >> this is a war relating to munitions and are running out of ammunition and were low on. stuart: what message does that send our foreign adversaries. we will discuss that link the little later. the president just met with king charles iii in britain's prime minister, they talk about climate change in the war in ukraine read alex hogan is going to get all the highlights from london next. ♪
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stuart: president biden, let me go to ashley for this, we have the story on president biden letting slip some information about u.s. ammunition here at home, straighten this out, what did the president xi. >> good morning, president biden gave an interview to cnn that aired this past sunday defending his decision to say cluster
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bombs to ukraine suggesting the u.s. was perhaps low on the more common 155 millimeters ammunition rounds, watch this. >> this is a war relating to munitions and they are running out of ammunition and we are low on it. what i finally did i took the recommendation of the defense department to not permanently but allow for this transition. where we had more 155 weapons the shells for ukrainians. >> he said we are low wanted, reaction on social media from confused outrage many asking why the president was announcing the u.s. shortage during a televised interview that will be seen by our adversaries, conservative pundit steve guest tweeted among other things moron, despite did not care that are adversaries in china are listening. the white house seem to walk
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back the president's comments saying any munition set to ukraine are success of the required reserve adding that the u.s. is not running out of ammunition. stuart: thank you very much. president biden held separate meetings with king charles in britain's prime minister rishi sunak this morning this is ahead of the nato summit later this week, alex hogan is in london what were the highlights. >> a very busy day in london were president biden is leaving the country after back-to-back meetings earlier this morning, he traveled about 25 miles outside of the city to windsor castle where he met with king charles iii the conversation largely focused around the kings main concern which is climate change, this is also the first meeting between the pair since the monarch coordination back in may president biden did not attend an hours before that after writing at a street in london the president dodgson
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questions with turkish president aired one and whether the country would air like sweden's bid of nato, it does appear that the possibility could be gaining traction saying he could give his stamp of approval if turkey can finally join the european union. the president touched down in england yesterday and as far as conversations that he had here with british officials, biden praised british prime minister rishi sunak the six meeting in many months, he talked about sweden joining nato potentially and as well as a atlantic declaration, this is economic framework issued last month. >> once a month. >> biden will travel to lithuania where there will be the nato summit and the leaders will largely focus on conversations on how to support ukraine without as of now giving
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the country and acceptance membership and to the block. >> we hear you, thank you very much indeed, more than 80 million americans live more than an hour away from a trauma center, nationwide pilot shortages make it much more difficult to get patients to a hospital in rural areas. alecia will have the story coming up. two new cases in florida of malaria, that brings the total to seven, doc siegel will join us and tell us everything we need to know about the health advisory, that is the next. ♪ ♪
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will really get you, i really bought the school supplies we have the pta do it and i think there were $10 more than traditional than last year. stuart: that is not bad. >> it is for a lot of people. stuart: ralph lauren is up 4%. >> are leading the s&p 500 and the entered into a five-year revolving credit facility of up to $750 million with j.p. morgan chase, the money is essentially working capital. they got the money in the stock is up, the barbie movie. lauren: it is out next friday, everyone is buzzing, apparently, maybe women my age decided to take her children, you can airbnb in the barbie house and you can go to barbie café in new york city, there is a lot of buzz, warner bros. are up 3% and the tele is up 2% they make barbie and now they're planning by 45 of their toys including you know, barbie and hot wheels. stuart: we don't know the politics of the barbie movie but
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we do know there is a lot of buzz about it and that is why the stock is up 2%. lauren: do people care about the politics of barbie, there is one episode where they had a map of china in the background and it was considered catering to the chinese audience the way it was drawn with their territory in the south china sea. stuart: there will be some commentary about the politics of barbie, they may disagree. just move on. we are talking about staffing problems for commercial airlines, we've done a lot of that, there is a shortage of helicopter pilots, alicia acuna is with us. i want to know why this is a big deal. >> a lot of it goes back to covid and staffing that was drawn down and a lot of retirements as well and last year air methods corporation shut down several of the bases, this is the nation's largest air
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ambulance provider due to inflation under reimbursement by medicare as well as federal regulation in the pilot shortages not helping it is especially dire for folks who live in rural america who often live hours from double one level two trauma centers in the pilots like rodney baker to get them there. >> we have a golden hour and that is the standard in ems that the patient needs to be at a level one trauma center or trauma position within the hour to increase their survivability. >> the american college of surgeons says one in four americans live more than an hours drive away from a trauma center, boeing says that the next 15 years the world will face a shortage of 61000 helicopter pilots and becoming up to $170,000, entry-level pay is around 60 grand, signing processes in the tens of thousands of dollars help the young pilots don't always want
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to live in small towns. >> is pushed as an organization to really think outside of the box and find ways that we can recruit pilots more effectively. >> one utah program to middle and high school campuses to get kids interested in vertical flights, sean elledge fully understands the importance of this, 2019 his goal was crushed while working inside of a wind turbine in rural kansas and needed emergency brain surgery. >> i was airlifted it only took about between 50 minutes to an hour to get to wichita to have the surgery. sean says without the air ambulance he knows he would not be here today. stuart: thank you very much indeed, changing the subject, an op-ed in the boston globe a physician at yale university says doctors should wear body cameras to catch racist staff.
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i think we could get reaction to that from doctor marc siegel who joins us now. should doctors be wearing body cameras? >> no, the whole doctor-patient relationship is based on trust, on intimacy and disclosure in patients feeling comfortable releasing secrets to doctors that they trust, if you don't trust your doctor, get another doctor, don't record them. in the national health service on the other side of the pond they have the opposite view they did a survey that found that 26% of encounters between patients and staff and doctors led to harassment of doctors or abusive doctors and their using body cam's for their surgeries to see when a patient says to put them in ambulances. i'm against that to. i am used to as a doctor patients are ill and they're not feeling well and maybe they are stressed and they can say things to me, i will be ready for them and prepared, everything is being monitored it is big brother, who is by the way going
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to interpret this. stuart: i will tell you who is going to interpret it, lawyers, the moment something goes wrong in jumps the lawyer, give me the tape i wanted to the body cam tape, look what you said to my patient was suffering. >> exactly in the clip it just like the police, they will clip it and show one little thing a little nuance, we were trained as physicians to treat everybody the same, we treated based on illness, body part, on what's wrong, how to fix it that does not mean there aren't racist physicians and it doesn't be the black community for example does not have a long history of mistreatment by the medical establishment but on a one-on-one basis and we have to deal with disparity but on a one-on-one basis it cannot be policed in my experience has been very positive in my training at bellevue hospital learning to treat people the same and with respect. stuart: good answer doctor, one more for you we have two more cases of malaria reported in
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florida and the total number of cases in the united states is seven to be concerned about this? >> we are monitoring this because it shouldn't be here at all but remember it is limited by the vector. in this case they are the mosquito, there around the southwest but they actually have to bite somebody who is infected to transmit it to somebody else so it is limited in that way, executive spread like wildfire, however, it's another example and in this case it is not coming across the southern border but it could. i'm very concerned about medical infectious diseases crossing the southern border and that is one that can as well, tuberculosis is another. stuart: i just got this, the fbi, has fully approved a new drug that can slow the progression of alzheimer's, here we go again talking about loss of memory and alzheimer's it is called lock wendy, do you know about this. >> another name it's been around they gave it a rapid approval
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another form of approval, here's what that matters, the formal approval will cause medicare to cover it, that is a big deal is $26000 a year, expensive and lauren has reported on this as well. it will now likely be covered by medicare is close the progression of the disease 26% over a year, it is very useful and has side effects, it is a step in the right direction on preventing the buildup of these plaque proteins in the brain, you do not need it i am here onset, give me an exam looking at you unbelievable, not a cobweb. stuart: i will take that, you are alright, thank you very much. the wall street journal claims the u.s. is racked in miles of toxic cables, what on earth does that mean. ashley are you going to explain this wrapped in toxic cable, go. >> it is the wrapping, it has led, the wall street journal investigates found the at&t and verizon another telecom have
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left behind the sprawling the work of cables covered in toxic lead that stretches across the united states under the water into the soil and on the polls overhead. it is everywhere, the journal had independent labs tests close to 130 samples from 130 underwater cable sites, those tests revealed lead levels and sentiment and soil that exceeded safety recommendations set by the epa at more than four dozen locations in at least one case 14 and a half times more toxic than considered safe. in response to all of this at&t and verizon another telecom companies say they don't believe there cables and their ownership or a public health hazard or a major contributor to environmental led, they say they will address any concerns related to lead covered cables, a lot of the cables in the polls above us found 130 bus stops the kids use in new jersey are all under the leg cables, it's certainly something of a con
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concern. stuart: interesting, i still got docs to go with me. i've a question half of the tapwater in the united states has forever chemicals in it. is this a dangerous situation. >> it is something to monitor but forever chemicals are everywhere and in the tapwater the tapwater is pretty safe, i'm more concerned about iron in the tapwater, what you exposed to on a daily basis has a high content, forever chemicals are traced, they gotta be monitored and monitored by the epa and i don't believe in the tidy amounts that matters in with the leg cables ashley is talking about we are not talking about where we look in your house to see if there is this pestis, let cables over your head in a bus when you're traveling along is not to give a child an amount of exposure when i tested blood. stuart: what about lead wrapped in cables in the ocean, that is significant risk in some way?
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>> i don't believe so it's like that monitor the ocean to see with the lead content is if you go swimming in the ocean at the beach you not to be exposed to the amount of lead of any medical effect at all. >> there's always hysteria and in ways rightly so let's not go with it. lead paint in your house is very different than the cable in the ocean. well said, you're absolutely right, marc siegel, thank you. the governor of utah says he is preparing to sue social media companies for the damage that are doing to children's mental health, details on that coming up. meta thread hit 100 million users, it's only been out for days, do people know where the data is being stored? kelly o'grady read the fine point, she could break it down for us. kelly is next. ♪
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stuart: the markets, we got the dow up 137 points, we have the s&p up three and the nasdaq is down one point, i would call the admixed market on a monday morning, 100 million users have joined meadows threads at in the 405 days that it launched, privacy that is a concern, kelly o'grady with me, you read the fine point, where is the data being stored. >> that is the problem it turns out the thread plans to share their data with other platforms in the future, platforms that may not have the data privacy protection or they could have servers in china, buried in the
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terms of service as a pledge to make threads part of the federal verse, a decentralized network of servers that allow members social networks like a macedon for example to communicate with each other at threads user could interact seamlessly, the upside you can get rid of the current site of social media that we have the here's what concerns me in the terms of service it says please be aware you are directing us to deliver your information to services not controlled by meta. information sent to third party services is no longer embedded control and subject to the terms and policies of the third parties, it is vague on what data gets shared but once the data is out there users may not be able to delete it, the platforms may have different policies for meta in the platforms can also have servers outside of the u.s., tiktok is under scrutiny for storing data in china, industry experts worry that threading to the metaverse
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could pose the same challenge. >> a company could do it and store the data in chinese servers in china or russia or wherever they want to where the government have complete control and access to the data we will start seeing government entities doing it as a way to monitor their citizens but also monitor other citizens as well. >> we reached out to meta to inquire if there plans to vet these platforms that they share using data with and have received no response but i would say think twice before cooking except on those terms of service. stuart: kelly o'grady, thank you very much indeed we talked about the twitter user elon musk jet, he is the guy that is gotten in trouble for tracking elon musk's flight, come back in, is he still on twitter? >> jack sweeney is his name he track the movements of elon musk he was kicked off twitter last december when elon musk said tracking is jet like that was like sending out assassination
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cordons calling a physical safety violation, guess what, the past weekend sweeney resurfaced on medicine thread app under the account elon musk jet, after announcing his presence he also asked meta ceo mark zuckerberg will i be allowed to stay, there has been no response but the account remains up and running any gathered about 25000 followers in 25 hours on saturday alone. there you are he is still alive on meta and you gotta believe mark zuckerberg might like to poke a little bit at elon musk so he probably would take it down. we like that, thank you. the governor of utah gearing up for a lawsuit can social media companies, this is got to be about the effect of social media on children and preserve. >> the republican governor is prepping lawsuits that accuse social media companies of harming children. watch. >> there is not just a
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correlation between social media use and an increase in suicide, anxiety, depression and self-harm, there is a cause of length it is suspected that the supreme court will weigh in on this decision when it comes to restricting youth access. the governor says he does expect the companies to counter sue in the issue may make its way all the way to the supreme court but in utah beginning in march they will have some of the strictest social media laws in the country when it comes to kids going on the sites. stuart: fair enough. thank you. a panel on msnbc mocks governor desantis wife casey desantis. >> for many she is the brighter side to florida's angry governor, for others she has become america's karen. >> i called her. >> oh dear, presidential candidate ron desantis will join us shortly to react to what they're saying about his wife, that is in the next hour, president biden facing numerous
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stuart: the market waiting for the big inflation report that comes out wednesday morning, tentative trading, the dow was up 140, nasdaq down five, s&p up three, here is a headline. it reads media's bias of omission, biden scandals get the silent treatment, joe concha wrote that andy joined me now the media leaves things out, does not govern because it's bad for biden, is that it. >> it appears so in the
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inception israel, there was a poll that came out where americans asked do you believe that journalists and the media and general intent to mislead you or do they just make mistakes. 50% agreed that the media looks to purposely mislead in certain situations while 25% say they are not trained to do that at all, half the country believe intentionally misleading when it comes to media bias and activism the worst kind of bias is a bias omission that is the intentional act of preventing americans from getting news that is worthy of coverage and when we see with joe biden for instance karine jean-pierre the white house press secretary there was an analysis done by the research center right-leaning nonprofit and they found that 2% of questions about biden scandals are being asked by cream job here, to a 52 questions pertaining to hunter biden over a six-month period and she answered six of the 252, there was one week in june were donald
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trump the abc cbs evening news t watch my 20 million people combined, 291 minutes of scandals involving trump, 0 minutes, 0 seconds involving the current sitting president, economic this stuff up that is the way it's going to go up until the 2024 election. a lot of focus on trump and very little on the guy occupying the oval office. stuart: i just saw this, axioms reports the present has a short temper infrequently lashes out at staff members with profanity rants. one official says no one is s safe, this is an old story getting worse. >> i think as this president goes into his 80s, the temper is shorter and obviously not only with the staff according to axioms but we see him do it with reporters quite often, if you
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asked a fair question about x, y and z he comes back with snark or laughs it off and doesn't answer the question or get angry and certain steps away shins, temperament is important when it comes to any president and the thought process around people thinking do i really want joe biden in the oval office when he is 86 years old that's how old he would be at the end of the second term, overwhelming majority of voters including a majority of democrats do not want the president to seek a second term, yet here we are towards the inevitable rematch of joe biden versus donald trump and a lot of time between now and iowa but as of now 80 something-year-old joe biden versus donald trump will be in his 80s if you were to win the second term. stuart: 30 seconds, i say joe biden will not be the democrat presidential candidate in 2024, what say you. >> i want to get your magic eight ball play the lottery if that comes true. that is the thing i can get away from the number where most democrats don't want joe biden
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to run against, yet the think somebody may step in the gavin newsom and i hasn't happened. what is the mechanism of getting amount because any mechanism puts harris in. >> it is time to get keys from your grandfather and say you cannot drive anymore, your grandpa's equity give that up very easily and that is the thing usually the baton is passed on to the vice president but in this case nobody is talking about kamala harris they jump right to gavin newsom who is not doing a stellar job in california when you look at poverty and crime and the highest taxes in the country. >> we covered a lot of ground, you are alright. what's coming up, i'll tell you, david new york times writer calling out biden for not acknowledging his seventh grandchild. make america great again spokeswoman talking about the size of trump's rallies in jason katz on the chances of us heading into a recession. also this, governor desantis,
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