look, there he is. he's the perfect, sweetest animal -- >> can you imagine the hairs all over the apartment in. cheryl: he doesn't shed. that cat does not shed. but he's perfect. [laughter] milo, not all cats. all right. final word on markets, i'm letting you off the hook. >> huge week, huge, like, the market hang on the magnificent seven. we've got two of those names coming this week in amazon and apple. i really like for the market, for amazon to, like microsoft, have great numbers, but the market doesn't like it, so you get a selloff and an entry point. cheryl: liz, final word? >> watch oil prices. i really think this is going to be the next big topic. cheryl: no, you're right x and it's going to show up in headline inflation. "varney & company" is up right now, mr. david asman's in for stuart. david: good morning, everyone, i'm david asman.

it's finally happening, devon archer, the longtime business partner of hunter biden, is boeing to be sitting down with lawmakers today behind closed doors, expected to give insight into whether and how much joe biden was allegedly involved in all these deals. this coming as we learn that the justice department tried to put archer behind bars this weekend before he would be able to shed more light on these business dealings. we're all over that. and to the political trail, ron desantis continues to reset his campaign. he's going to unveil his economic policies this morning. meanwhile, an employee at mar-a-lago who's been charged in trump's classified documents case is set to make his first court appearance. and thicke key haley says -- nikki haley says senate minority leader mitch mcconnell should step away. take a look at the markets, looks like a good green day at least on the dow. all the indices are trading up. it's the last day of trading for the month of july. the dow, s&p 500 and nasdaq all in the green. and another big week of

earnings. apple and amazon set to report later this week. a big three hours ahead. we've got charlie hurt, steve forbes, john burnett and cover corey deangelis. it is monday, july 31st, 2023. "varney & company" about to begin. ♪ ♪ ♪ there's -- it's always getting hotter -- ♪ let's party like we're on vacation ♪ david: it's vacation, thomas relate is the singer -- thomas length is the singer. devon archer is set to testify today on hunter biden's business with dealings, expected to reveal joe biden's alleged involvement in foreign business deals when he was vice president. we're not likely to hear anything from the president on this, he is on vacation for 10 days at his home in rehoboth beach, delaware. charlie hurt joining me now.

charlie, great to see you. thanks for being here. charlie, why isn't the doj interested in deposing devon archer? i mean, that's a question that andy mccarthy and others have raised. it's unusual that the doj which is usually out to check things like this is kind of leaving it up to congress. >> well, it really is remarkable. and, obvious, you know -- obviously, you know, congressional hearings, they're very important, you know, or congressional investigations are very important, but they are very pretty saysed. -- politicized. it's not usually the best way to sort of elicit legal information in order to make a case. but, of course, their objection, doj's objection to devon archer testifying today behind closed doors to congress has nothing to do with that. it's just that they're upset that he's testifying at all, and that's what makes remarkable those letters this weekend. david: yeah. what was up with that? >> the doj threatens to throw

the him in jail or demands that they figure out how to put him this jail. and it kind of had a two -- they later sort of walked it back because they got so much mowback. it was kind of interesting, it had with two purposes. i think one was to put devon archer on notice that, hey, we play for keeps, you're going to jail in the first place. but the second place was that it, you know, sent a signal to those of us who are at least trying to kind of figure out what the heck is going on here that they don't have any interest in interviewing -- david: but, charlie, it goes beyond, it actually goes to the question of whether they are trying, the doj itself is trying to obstruct justice. >> right. david: trying to prevent deafen archer's testimony from getting out there before congress. >> if that's not contempt of congress, i don't know what is. and if that's not obstruction of justice in terms of at least congress' effort to get to the

bottom of all this, i don't know what is. david: yeah. all right. let me switch to the political scene and what's happening with the governor of florida. ron desantis, who's still trying to get new traction, he's trying to reboot today by focusing on the economy. a lot of people have been saying he should have done that from the beginning. florida has a wonderful economic story to tell particularly when california, new york, illinois and other red -- other blue statements are having -- states are having trouble getting any economic traction, florida's doing great. why didn't he do this from the beginning? >> well, you know, obviously this is his third or fourth, quote it-unquote, reboot. this is the first reboot in which he's decided to do what he should have, as you say, should have done from the beginning which is to focus on the economy and the free florida, you know, the free state of florida. you know, i think a lot of it has to do with the fact that he has focused on a lot of these social issues like the disney squabble.

it's benefited him. you have a lot of conservatives and republicans who love that kind of fighting, and it is to be admired, to be sure, but that's not9 what -- you know, that's not what it's all about. david: yeah. >> and what people really care about if you want to get beyond those, you know, conservative people on twitter, you're going to have to talk about the economy and make the case about the economy. because at the end of the day, that's what, you know, elections, and that's what this election is going to turn on, is who has the best economic message. david: well, overwhelmingly, that's what americans say they care most about. speaking of the economy, the global economy, one of the things that desantis is going to talk about kind of like vivek is the decoupling of u.s. from china in terms of business with interests. now, i'm wondering when americans look at the big picture, they may say, okay, that's a good idea. but when it comes down to the reality of items that they purchase going up in price perhaps as a result of that, that might change the story.

how do you think americans will deal with that subject? >> well, i do think that americans for far longer than anybody in washington realize have been very suspicious of china and have understood the degree to which china has been part of the problem where you have jobs fleeing areas like southwest virginia where, you know, you had furniture, textile factories that have just vanished and gone largely to china and then china cheats on the trade deals. so i think americans are open to the idea of combating china on this, but you're exactly right. there's a reason a people buy lots of cheap junk from china. it's because people like, if they're going to get cheap junk, they want to pay a lower price for it. david: yeah. >> and china is really good at producing -- david: but, you know, the two, you can hit china as trump proved with trade the sanctions, etc., and and at the same time

use them to buy american goods like when it's produce. i mean, you've got a very good agricultural deal out of the process. >> yeah. and let's not forget, you know, donald trump was the first politician to come along in 30 years to recognize what aye been hearing from my neighbors about china, you know, during this entire time. but no politician has recognized that beating up on china is a really, really good political, you know, tactic. but as you point out, the problem is once you, once you start losing, you know, once people have to the pay more for things that they've grown reliant on, it's going to become a sticky problem. david: right. >> and at the very least, a politician has to be able to define why it is that people -- david: and you can hit them as long as you get something back from them, and it is possible to do that. we saw it during the trump administration. charlie, good to see you. thank you very much. let's turn now to the markets.

futures this morning are not looking too bad. jeff sica joins me now with details. we've got apple, we've got amazon coming out. first of all, on apple, can its market cap really exceed $3 trillion? it's already at $3 trillion. i remember when it went up to $1 trillion, it was big news. can it exceed $3 trillion? >> well, that's the big question. here you have a company that has a market cap that is bigger than the size of most countries like italy, south korea. david: that's right. >> so it's going to take a lot. but who would have thought that they would be able to build this dynasty out of rolling out new versions of old products. and what they have now is they have a upgrade cycle of 250 # million people that haven't upgraded their iphones in four years -- david: like me. >> like me. [laughter] and then you have the whole market in india which is about a

billion people which they're just beginning to make progress in. and, of course, china. so they are really priced to perfection. but what i would say is that you have -- it's hard to find anyone on wall street who doesn't love this stock. and when that happens -- david: how about you? >> i still like it. i own it, but i'm not chasing it up at this level because what it comes down to is that if they have a little ship-up, keep in mind -- slip-up, keep in mind, david, last quarter they saw a declining in iphone shipments in the u.s. of about 20%, 8% globally. so there is that potential that there could be a decline. david: now, how -- speaking about all-time highs, how about amazon? >> well, amazon hasn't hit an all-time high since 202 is. -- 2021. amazon is a $1 1 is 3 trillion company as opposed to a $3 trillion company, and amazon, the focal point of amazon is aws, amazon web service.

if aws exceeds the projected 9% growth rate, i anticipate that amazon could get to an all-time high. if it doesn't, it's going to be punished. so i'm just looking at the aws numbers. that division of amazon made them $80 billion. this is no joke for them. this is -- david: laid off 27,000 people which might have been the right things to do money wise, but it's causing some concern. >> right. david: very quickly, only 10 seconds on this one, but there might be a streaming merger. apple really considering to buy disney, is that right. >> >> yeah. well, keep in mind apple with $200 billion in cash, disney with a market happen of $175 billion, i don't think it's going to happen. it would be great for disney and for the long-suffering shareholders of disney like me if it happened. but they, there is a big antitrust obstacle with that. there is -- they have to inherent all of what disney has

done to destroy their brand. they'd have to rebuild it. so i would say that apple will abstain from that. but i think apple's going to buy somebody. they are going to buy somebody in media, so you heard it here first. david: jeff sica, thank you very much. good to see you, jeff. well, remember this response from the president when peter doocy asked about his seventh granddaughter. roll tape. >> reporter: mr. vice president, i'm wondering if you have a comment on this report and court filing out of arkansas that a your son, hunter, just made you a grandfather again. >> no. that's a private matter, i have no comment. david: well,ing in a late friday night news drop, president biden finally acknowledged his granddaughter or one of his grandchildren. and then there is this, the justice department wanted key witness devon archer to report to prison. that's what the report a said. they're backing out a little bit from having said that, but it was out there just days ahead of the former hunter biden business partner's congressional testimony.

house oversight committee member pat fallon reacts to that right after this. ♪ so i held my head up high -- ♪ hiding hate that burns inside ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ this is american infrastructure, a prime target for cyberattacks. but the same ai-powered security that protects all of google

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wanna lose weight and be healthier? it's time for aerotrainer. a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time. it allows for over 20 exercises. do the aerotrainer super crunch, push ups, aero squat. it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to aerotrainer.com. that's a-e-r-o trainer.com. david: and now this, the big stir of the morning, hunter biden's business associate, devon archer, is expected to testify before the house oversight committee in about an hour from now. hillary vaughn is on capitol hill with the very latest. hillary, what are lawmakers saying about the information? -- investigation? >> reporter: well, they're hoping that this interview with

hunter's ex-business partner today adds another piece to the puzzle. the republicans hope as a clearer picture of whether the was or was not involved in his son hunter's business deals. in this interview, we are told that lawmakers want to ask archer about previously undisclosed bank records and transactions and also whether or not the president had any involvement or knowledge of those transactions. this is happening as the house weighs moving forward with an impeachment inquiry. republicans say they have a duty not to turn a blind eye here. congressman mike johnson going further over the weekend saying that impeachment might be on the table. >> it is on the table, it's a very real possibility if not for political purposes, will, but because that's our responsibility. under the constitution we have that right and that authority and that duty. and impeachment inquiry, as speaker mccarthy has explained, is just the step in moving towards that. it gives us more subpoena

authority, more discovery power, and that, i think, is called for in this case. >> reporter: democrats though are pushing back against archer's testimony today and the idea of an impeachment inquiry more broadly, saying are republicans prying into the president's son's business is proof that they are weaponizing the government. >> the republicans are allergic to facts -- [laughter] and so i don't look forward to whatever lies will be spewed. but interestingly enough, you know, i think that a lot of my colleagues need to go back to school and maybe go into the work of being detectives, because seemingly that's what they want to do right now is play detective and weaponize the government. >> reporter: david, we expect this interview to go about four hours, and we're toll that the transcript of that interview should be made public in the next few days. david: just to be clear, he's not going to be sworn in, so to speak --

>> >> reporter: right. david: lying to congress is a crime, right? >> reporter: exactly. it's not technically a testimony because he's not under oath. it is an interview. but, you're right, he also cannot lie to congress. david: good to see you, hillary, thank you very much. listen to what house oversight chairman james comer had to say about deafen arch ear -- devon archer's testimony today. >> we know that archer has met and communicated many, many times with joe biden about burisma and other things, so this is going to be an opportunity for devon archer just to tell the truth. we have other bank statements that we've obtained that we have questions about pertowning to countries -- pertaining to countries that we believe or archer may have knowledge of. david: texas congressman pat fallon joins me now. thanks for for coming in. all of these shell companies, all of this information that is being gathered by a couple of different committees, has anybody been able to connect the dots between the shell companies

and joe biden? >> well, david, thanks for having me on. that's what we're doing, and this is what the process is all about. and every bit of evidence we've discovered over the last seven months since we've had subpoena power and been in the majority point to the fact that hunter biden, it appears anyhow, that hunter biden was the bagman for the biden family and for joe biden. so we don't have a smoking gun, if you will, but i'm smelling the gun powder and have been for a few months now. david: now, will devon archer provide you with the connector between those dots? >> he very well might, maybe. think about this, david, since september 2015 the u.s. ambassador, jeffrey pie yacht, who was appointed by obama, was talking about corruption in ukraine, and he pointed to soll chef sky, the owner of burisma. joe biden's son hunter just happened to sit on the board and to so did devon after. er. -- devon around archer.

soll chef sky asked hunter to call his father, which he did, and hunter said to his dad, and this is why devon archer's testimony is important, he was there, he said, dad, they need our support. so what happened? joe biden flew to ukraine and told the ukrainians to fire viktor shoken who was the prosecutor investigating burism- david: well, and then he bragged about it. >> he bragged about it, withheld a billion dollars in aid, and then shoken a lot of people, seized to four homes, two plots of land and he was fired and joe biden gave the ukrainians a billion dollars. that's getting really close to direct linkage. david: devon archer is a convicted fraudster. will his testimony lack credibility because of that? >> remember the mock trials in the '80s with gotti? you don't catch folks that commit crimes usually by interviewing nuns and boy scout- david: but you have to have evidence to back up what they're saying. >> sure.

no, there's no doubt about it. and that's why we have the bank records. i mean, the biden family, david, has -- they've formed 20 the plus shell companies. hunter biden was pocketing seed money. we've got the 10 is 23 from what the fbi describes is a very reliable source, human source that they've paid hundreds of thousands of dollars to that said soll chef sky told him he gave joe biden $5 million, and he has bank records the private. we find to those bank records, you're talking about the largest political scandal in american history. david: finally, the impeachment inquiry, whether there is enough evidence or perhaps if after today's testimony whether there will be enough evidence to start an impeachment inquiry. >> quite frankly and candidly, david, i think we've had enough evidence to open at least an inquiry, an impeachment inquiry, for the last several months, is so absolutely, we should do that forthwith. david: congressman, thank you very much. it's going to be an interesting day. report back, we'd love to hear

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david: well, check futures, they're all in the green and it's time to bring in keith fitz-gerald who's got a thing or two to say. i want to focus on tech, because it was last october that you said that tech was going to come roaring back. a lot of people said, ah, you're nuts. if you put your money where your mouth was -- you're already a rich man, now you're a very rich man. >> well, i don't know about very or rich, they're big words with, and i'll try to live that way. we got very lucky, david, and and thanks for remembering that. david: well, it was more than luck are. what did you see that a lot of other people didn't? >> well, you know, one of the things i've learned the look for over the 43 years i've been doing this is that when everybody thinks they know something, that's usually an indicator to look at the other side to figure out who's putting money down on the side of the room and go pick it up.

if we look at what's happening around tech, that gene think if's not going back in the -- genie's not going back in the bottle. they've david now, we've -- david: now, we've come back so much since october. a lot of people are beginning to wonder, it's at that teetering stage again, tiahrting at the top of the mountain -- teetering at the top of the mountain. what do you think's going to happen from here with big tech? >> >> the other rule of the game is you never switch horses in the middle of a race you're winning. i don't think tech's going to go anywhere. there might be a short-term retracement, but with other than that we're looking at one of the bigging -- single biggest pivots in history. i think tech continues to be a great investmentment, marley the big names. david: let's talk about those names. apple and amazon, do you have a favorite? >> apple, no question about it. in fact, i think that apple's going to continue to engage. people were worried about the iphone sales, but those same people are forgetting that that's a sensor platform for everything else they make,

subscription, services, music, and is they're getting into finance all of which is going to be connected with the ecosphere. amazon, on the other hand, a i'm actually set up, i think they're going to have a rough go of it. if cloud revenue is soft, i've been away from that one. david: it's all about aws, isn't it, with amazon? >> it is. david: all right. i just have to ask you, jeff sica kind of tweeted this out and was talking to us about it in a tease about whether they're going to buy disney. do you think they're going to make a big purchase with that $2000 billion they have lying around -- 200 billionsome quickly. >> you know, i don't think so. i think the better concern would be apple buying disney. but jeff's a bright guy -- david: excuse me, i meant apple. did i is say amazon? i meant apple. do you think apple might buy them? >> they might, you never know. david:, i appreciate you coming on -- keith, i appreciate you coming on. >> thanks, david. david: we start in the green in

premarket activity. as you can see, some of those big name high-tech companies, a lot of whom will be reporting this week, were kind of going between between and red, and it's the same on the big board. almost a split now between the winners and the losers on the red. this is a look at the 30 dow stocks, and we see about, let's see, about 12 there that are in the red and the res in the green. we've come -- no, just, it's actually exactly equally split right now. all right. let's check the s&p which has a broader vision of what's happening with stocks in america. it's now up a little bit, up about .2%. nasdaq is up about .2% as well. and let's show you the big with tech companies, if we can. as we said, they were all in the green earlier, now microsoft and meta are trading in the red but noter theically so. it's kind of a wait and see moment as we begin week looking forward to all those earnings. let's start with apple. we know they report later this week, but what's this about a

screen time bug, lauren? lauren: yeah. rare for apple to have a bug and rare for the bug to be happening for a month. so this is in their cloud-based family sharing plan. that's how parents can set time limits for their kids' screen time, and some of the parents are telling "the wall street journal," well, we keep setting the limits, and the kids keep bypassing them. that. david: surprise-surprise. [laughter] lauren: apple says they're working on a fix to the settings error. if you are one of those parents -- said david you're not there yet. you will be, believe me. chevron getting a boost from whom? lauren: yeah, up 1%, goldman sachs. they raised the target price to $187. they say chevron will generate positive free cash flow in 2025 and '26 because they have a project in kazahkstan that should be coming online and further ramping up production in the permian basin. a air david and carvana has seen an 800% surge this year. is that about to change? lauren: well, jeffries thinks

so. they cut to sell and took the price target, it was at 55, they took it down to 30. they say wall street is simply overlooking risks that are going to come back and rear their head in coming quarters like expenses ramping back up. carvana did a lot to cut costs, that could be changing. so this stock, you said 800, to be exact i think 828% this year. david: unbleaivel. lauren: i know. remember when we wrote them off. >>some. david: whenever you see these huge swings, you've not to wonder -- lauren: yeah. david: all right. wayfair, let's go to wayfair. big pot for the home furnishing company. lauren: this is a stock that more than doubled this year, and they just got an upgrade are if from piper sandler to buy. piper thinks the stock can go up 32% to $95. so the home furnishing industry is apparently stabilizing, and, therefore, wayfair can gain market share. during can covid everybody fixed up their homes, we were working from home, hey, i need a planter

in that corner, and now it's three years later. maybe we're starting to buy furniture and accessories again. david: and a good old old-fashioned name, adobe. lauren: look, stock's up 3.5% because photoshop will be using artificial intelligence. you can perfect everything, so this is montization of a.i. for adobe systems. morgan says they're going to overweight, and they like how adobe's integrating a.i. into their work flow, and they say this is enabling stickier customer engagement. david: all right. we'll all look 30 until we're 7- [laughter] unless you get too close. lauren lauren i mean america it's useful, i always say when your taking your christmas card picture, everyone looks perfect except for that one person. you'll never have that problem again. david: disney is trading up a little bit, 1.25%. what changes are they making now, lauren? lauren: succession plans for bob iger. his tenure -- david: they've been through this

before, of course. lauren: saying disney brought back two former executives, they're now consultants. one is kevin meyer, you remember him, went to run tiktok. and the other is tom staggs, he was cfo, you name it. so apparently, they'll help figure out the future of abc, espn, do disney's linear business, because iger recently said they're not core to disney anymore which means something might happen to those properties. so i like to say disney is going back to the future to find out by bringing many to consult. david: it used to be the mod cull of stability. there were neverty --ed modicum of stability. now there's so many roller coasters in that company, where it could go, what it's done, etc. lauren: and so many different branches. the theme parks doing well, the movies not doing so well. dreaming very popular, unprofitable -- david: yeah. it is still disney. it's got that name. all right, check the big board,

we are trading up right now. the markets are up about, a slight increase, up about 14-20 points. here are the winners of the dow, if we can take a look at them. we have, let's look at the winners, there the they are. they're a little slow in coming. chevron, walt disney we just talked about. jpmorgan chase doing quite well, up 1.5%. jpmorgan, caterpillar. caterpillar's doing well. here are the s&p 500 winners, lieu min technologies, hasbro, plc and adobe, which we just talked about as well. and the nasdaq winners, crowdstrike holdings, adobe, siriusxm and what is that? alation? what do they do? i don't know. [laughter] siriusxm is doing well and paypal also. check the 10 is-year yield, up a little bit, up close to 4%,

3.96%. let's check gold if we can, up about $6.50. over that 2,000 mark. very interesting, it's been kind of an indicator where inflation is going. bitcoin still below 30,000 but just so, 39,500. but oil is up, it is well over $80 a barrel, now trading at $81.50 a barrel. natural gas, well, natural gas has been riding a wave, but it's coming down a bit now. it's down ant, almost a percentage point, about two-thirds of a percentage point. the average price for a gallon of regular, by the way, is now $3.75. and, of course, california where things are so heavily regulated now trading at $4.99. that's the average for a gallon of gas in cali. coming up, voters in four battleground states trust republicans over democrats when it comes to education. that's a change. now, is that because of school

choice? american federation for children senior fellow corey deangelis is here on that. and the number of covid hospitalizations on the rise. could we see a late summer wave? dr. marc siegel is here on that one. and there's a major disconnect in the white house. biden is touting bidenomics all over the place as a success, but vp harris saying families are only $400 away from bankruptcy. kind of a -- economist stephen moore is here to take that on coming up. ♪ ♪

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lauren: yeah. peak week, absolutely. david: pfizer, caterpillar and, of course, thursday with both amazon and apple. they're kind of in a a hold. the dow is up -- well, it just popped up to 36 points in the plus. nasdaq is up 31. nasdaq is the leader today, but it's up just about a quarter of a percentage point. lauren: almost 4% this month. david: that's right. [laughter] had quite a roll roller coaster over the past year. senator elizabeth warren is betting -- getting heat for her comments on student department. what did she say now? lauren: i know we're going to get outraged, but she said that canceling student debt helps borrowers. watch. >> and so we've been together fighting to try to cancel student loan debt. student loan debt is a racial justice issue. lauren: what about white and brown and asian people it also helps?

david: excellent question. lauren: fairness issue, us should we be canceling student loan debt for people who agreed to take it on in it's not a racial issue. but her office cites evidence coming out of the university of california that canceling just $10,000 in debt would help 2 million black bow roars. -- borrowers. by the way, she was pushing finish $50,000 -- david: we are one race, the human race. alveda king said it best. president biden continuing to sell bidenomics as a success, but it seems like vice president harris doesn't get e the message. roll tape. >> if she's a single parent, she's going to have to be able to pay for that childcare. she's going to lose time for work. maybe she has paid family leave, maybe she doesn't. maybe she has paid sick leave, maybe she doesn't. she will have to be able to pay for a plane, train, bus, gas. most americans are a $400

unexpected expense away from bankruptcy. david: ooh. steve moore joining me now. so, steve, did kamala harris just admit that bidenomics is not working? >> yeah, i think she was a little bit off message there, wasn't she, david? [laughter] you know, every once in a while kamala harris will slip into telling the truth, and she is right about that. the middle class is being squeezed by biden's policies, and she's right that the debt of american families, we're going to get a report in the next week or two that shows for the first time in american history that americans' credit card debt will exceed $1 trillion, david, $1 trillion. so she's right, these are really tough times for middle class folks. and that's exactly the opposite of what that joe biden has been saying. david: we know a big part of bidenomics is to crack down on fossil fuel production. perhaps as a result of that they just announced a new measure in that regard last week. gas prices hitting an 8-month high now and, of course, that hints the middle class the

hardest. -- hits the middle class the hardest. >> i just heard you say or alert is on the screen gas price, but did you say that the oil price went to $81? david: it's over $81 now. so that's the equivalent, that means we're headed to $4 a gallon gas, david, you know, because that will streamline right to the gas pump -- david: and that ripples down into all the economy. >> exactly. david: i know the fed kind of strips out food and energy, but that's not right. mine, that's what caused the inflation -- i mean, that's what caused the inflation to begin with during the biden administration, right many. >> you're exactly right. when the oil price rises, it just filters throughout the economy because energy is the master resource, it's in everything. and there's something a little bit more sinister that happened over the weekend. you may have seen this news story that the biden administration wants to talk the corporate average fuel -- take the average fuel efficiency standards up to, i think, 59, you know, per gallon or

something like that. that would, that is a back door can way, i want people to understand this, this is a back door way to basically make it illegal to have a car. because people won't be able to afford the cars. the car companies say we can't comply with that regulation. david: yeah, no, california -- >> forcing people to buy electric vehicles. david: next one, steve. while we're worried so much about inflation, china is worried about deflation. i'm just wondering how that affects our economy here. >> well, you know, look, there's a global economy, no question about it. and china has been able to control their inflation problem unlike what we're seeing in the united states. and so, look, we are in a global war with china right now, and all of the biden policies, especially these energy policies, are playing right into the hands of the chinese. i guarantee you, david, that president xi and the people there in beijing that are running that economy don't care

about climate change. [laughter] they care about taking over the world economy. and we're playing -- david: well, i think, but nevertheless, and this is not necessarily good news because a lot of people are being hurt, but the chinese communist leader is going back to communism full scale. and as a result, the chinese people have less money to spend. they can't afford to buy stuff. that's why there's a buildup in inventory in they that. that's not a -- i don't think that's a good, it's certainly not a good thing for the chinese people. but eventually it could be good news for us because of the fact that it helps us keep inflation down. i mean, the buildup of goods do that. i just have to can ask a final question about an op-ed that you have. i used to smoke cigars. i stopped smoking cigars the day i got covid because the night before i got can covid, i was smoking a cigar. but you say, you ask will the biden administration ban cigars outright. why? >> well, there is a war against cigars, there's a war against tobacco. by the way, i very, very rarely,

only occasionally smoke a cigar, maybe at a wedding or something like that. but they want to get rid of flavored cigars. and that's just a way to get rid of cigars altogether. and why is it anything that's fun they want to ban? [laughter] they want to ban gas stoves, air conditioners, now cigars. you know, it's just -- do you notice at the swimming pools there's no high dives anymore? david: gee, i hadn't noticed it, but now that you mention it, it's true. that is true. no, it's a question of how far the government goes in our lives, and we saw it go so far during the pandemic, they still seem to be in that pan 'em deppic mode. -- pandemic mode. quickly, go ahead, 10 seconds. >> they want to do this because they want to keep cigars out of the hands of kids, but only, like, 2% of i cigar sales are to children, so this is just a back door way -- and, by the way, i got through the whole interview is, david, without calling you larryful. [laughter] david: congratulations.

listen, i never mind that. i love larry connections, whatever they are. stephen, thank you very much. >> good to be with you. david: coming up, asylum seekers are camping outside the roosevelt hotel as the relief center is at capacity. is the migrant crisis turning into a homeless crisis? and recent graduates have no idea how to behave in the office. that's got managers at wit's en. well, help may be on the way. companies are now offering courses on workplace etiquette. we've got that that report coming next. ♪ ♪

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basically no hiccups? you guys have no idea how good you've got it. how old are you? like, 80? back in my day, it was scary stories and flashlights. we don't get scared. oh, really? mom can see your search history. that's what i thought. introducing the next generation 10g network. only from xfinity.

david: so we've told you all about the gen-z workplace trends. well, now employers are giving them corporate etiquette training. madison alworth is here with me. [laughter] what exactly -- i'm laughing because it was, it used to be assumed that people knew how to behave well in the office, but no more. >> reporter: it's come to this. these classes cover everything from how to properly communicate in person, over e-mail, how to dress appropriately, even how to handle the shared office fridge,

because the youngest part of the work force, gen-z, they are now being encouraged to take these etiquette classes at work. we're talking about a lot of companies, 45% of companies are currently offering it tet9 classes -- etiquette classes. but that's going to grow to 63%. managers feel the youngest gen or workers have a very different social life, and they've also spent a lot of their formative years learning remote hi in the pandemic. so they need some help being back in person. we took to the streets to is can people what they think, and i actually met a group of interns in the wild, and i asked them if they think they need etiquette classes. here's what the group had to say. do we think that's necessary? do we think that we are well equipped for work? >> like, how to write an e-mail, how to take criticism, how to talk to a boss, how to dress? >> interesting. i feel like we learned a lot of that in college and just growing up. >> yeah. >> i think we severely need that. i really think we need that.

>> maybe when it comes to speaking. a lot of people use slang terms. >> we say like a lot, i feel like we could work on that as a generation. >> reporter: this training is actually open to everyone, and an etiquette coach says people from every generation need help post-pandemic because we were used to being at home in our sweats, taking phone a calls wherever we wanted. one of the reasons though that these companies are offering etiquette classes is because they realize they can't keep firing gen-zers. they need to figure out a way to work with them, and so instead the -- of firing them -- lauren: why wouldn't they just hire older people in. david: good question. >> reporter: they're retiring, they're staying out of the -- david: bring them back in. that's a great suggestion. i hope we bring back some retirees to do that. thank you, madison. still ahead, wisconsin congressman brian style, dr. marc siegel and steve forbes. the 10 a.m. our -- hour of

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