>> i don't think he's actually running for president right now. the number of employees working on his e reelection campaign seven. that's not a serious effort. >> the downgrade is taken by fitch with a grain of salt.

debt relatively constant sieve to gdp is unsustainable. >> approaching the beast of the line where it's clear he lied to the american people fairly politically. >> it's going to be a much closer run thing than it out to be. ought to be. some areas and they want them to see the truth. stuart: dancing in the moon. no, dancing in the moonlight. i love it. that's a good one. i don't often like the music we play but i like that one. it's a happy tone. monday morning in new york city. let's enjoy it and sports fans

away we go. the dow industrial is up 300 points and up 22 and the nasdaq real laggard today and down just a couple of points and that follows last week's declines and show me big tech. how are they doing this morning? not bad. not bad. alphabet, amazon, microsoft, meta all up. look at that, apple is the loser on that list and apple is down to 177. how about that, down $4. 2.25%. 10 year treasury yield has been moving up and it's up 409 this morning. that's the markets. monday morning markets. now this. if ever there was a clear indication that democrats want biden off the ticket, look no further than representative dean phillips. he's a democrat from minnesota. he's very open about it. keeping biden on the ticket he says would be disastrous. roll tape.

>> if we don't head the call, shame on us. the consequences will be disastrous and my call is to those well positioned and well prepared good competency and they know who they are to jump in and they need competition and makes everything better. that's my call to them right now. stuart: okay. look, it's no accident he appeared on cbs prime political show. they certainly knew what he was going to say. they wanted him to say it on the air. phillips is 54 and been in congress for four years like many young democrats and his big problem is biden's age. in poll after poll, democrat demand a different candidate. look at that . the president's frailty is another rallying call for democrats. he's just returned from his beach vacation and he's outpacing all modern president when is it comes to time off.

democrats want a more vigorous and engaged candidate because it's hard for anyone to see joe biden holding down the presidency for another six full years and the talk of replacement will get louder and handlers can't protect him from stumblers, gaffes and senior moments and it's a matter of time till gavin isn't it newsoms move. third hour of varney rolls on. ♪ steve forbes joining us this morning. all right, sir, steve, biden is not going to be the nominee in 2024, are you with me? >> i app. we've both agreed on that for months. he won't be the nominee and not only because of incapacities that, are becoming more and more evident and may trigger crisis and growing scandal around his son and brother. that corruption can't be swept under the rowing for much longer and the economy will be so so. it's not going to be a booping

thing that bails him out. how do they do it and get biden out and kamala harris out? one thing they're talking about is justice sotteau mire leaving supreme court and replacing harris and she has a face saving way to get out of vice president sid and have a brand new ticket in 2024 and pretend the last four years didn't happen stuart: you've got to be kidding me. get a supreme court jim jordans tis to walk away and -- justice to walk away and put kamala in her place. >> it's starting to rumble and that congressman did what he did. stuart: other talk under the surface of how they might get biden out. >> they're hoping that he does what lyndon johnson did in 1968, go on tv and say can't do it and got to pass the torch onto

adjourninger generation in a face saving way and understanding in his way and one is his wife, dr. biden. whose nickname in washington now among some is mrs. wilson. stuart: president wilson during the first world war when she was incapacitated and she took over for a year. >> amazing point of history and not well known today. stuart: very good stuff, steve. get onto gas prices. are we in for an inflation problem? >> commodity prices inching up and seeing if gold goes above $2,000 an ounce and that means for a quarter of an enounce and that's a problem. the federal reserve unfortunately pays no attention to the value of the dollar. there's the currencies and no to intrinsic value and the fed may end up doing another muck up job in terms of fighting inflation

and depressing the economy instead of letting people do what they want and get ahead, start businesses and create jobs and make us more prosperous. stuart: another hit against biden come the election in 2024. that's not what he wants for sure. he repointed the fed head and can't escape responsibility for that as much as he'd like. stuart: history lesson well worth watching. thank you, sir. the dow industrial up 316 points as we speak and small loss for the nasdaq and s&p up 20, a half a percentage point. ryan payne is back with us and you've been in the market and you've made a point of telling me you're in the market for the whole time and the entire year, haven't you? >> yeah, the noise of the recession talk and face t every expert told us by now the economy will fall off a cliff and markets are cruel because you had the beginning of the last week market was at a peak since last october and that was

last year and stuart: we're at 35,000 for the dough industrials and well over 4,000 for s&p and are with we going higher by the end of the year than now? >> short term your guess is as good as mine and longer by the end of the year and we're going higher and the economy is not only just not going off a cliff here. we're not going to negative gdp. the both is reaccelerating into the end of the year and gdp now is like the measurement for this quarter and we could be up over 3% for growth this quarter and that's way better than anyone expected. stuart: would you withdraw that idea of more gains still to come if inflation ticks up, we'll get number this is week and the fed responds with a couple of rate increases. >> had over 500 basis points in

rate hikes so far and hasn't stopped this economy from moving in the right direction and the fed is done but even if they're not, you've got to remember that most people locked in their mortgage rates a few yearsing a and businesses in low interest rates and trillions of dollars beamed on the economy for spending and now wages are going up and there's inflation moderating right now and into the end of the year, consumer will be strong and $24 billion to spend and they love to spend money and that won't stop and the economy will stay very hot. >> that's a beautiful tie. not a cheap tie. you have steve more to my left. lauren: battle of the boomers. stuart: we've got a couple of 42 year-olds and steve and i and that's what we've got. >> we want to be call baby boomers. stuart: interest on the baby.

i'm almost all in stock right now. some in bonds but mostly stocks. am i doing the right thing? stay where i am? >> i would absolutely stay here now. it's a good time to be bullish and a lot of money that missed the move into the market and we've got a bona fided spending on instruction and there's an election next year. times to be in. stuart: i remember poo pooing you several times on the show. come on, what are you doing? you're right. you're right: i'll give give it to you. lauren's back with us looking at paypal up or down? lauren: up. they launched stable coin and paypal usd and customers can pay for purchasing using it and it's the first stable coin from a u.s. financial institution backed by u.s. dollar and redeemable by u.s. dollars. stuart: it's a crypto thing and put dollars in and take them out. lauren: that's how it reads and lawmakers for the house set to vote on several bills regarding

crypto and stable coin soon. stuart: all right. moderna not performing well. lauren: it's the worth worst performer on s&p 500 and leering partners down to the middle and it's at 100,000 and it's a street low. the impeak spltous for them -- elmore them impinatatous for th- stuart: something called sage therapeutics and this was a big deal in the news over the weekend. don't they have a pill for postpartum depression? lauren: they do. first ever pill for postpartum depression and works right away. it was down because it was only approved for post partum and not for clinical depression. also approved for clinical, there's a wider user base.

stuart: big user base for post partum. lauren: 400,000 mothers typically have post partum. stuart: wonderful news. lauren: right it's an injection and any other cocktail takes weeks to kick in. this is one pill and results in as little as three days and available this fall. stuart: good stuff. thank you, lauren. one of the heirs to the anheuser bush fortune said his ancestors would be rolling over in their grave thanks to the bud light fiasco. >> my ancestors would be rolling over in their grave and people can do what they want and never meant to be on a beer can. stuart: didn't end there and we have the full tape revealed to you. talk about irony, one day of trump's indictment and secretary of at a time blinken condemned russia's prosecution of putin's opposition leader.

good story and we have it. china and russia conducted joint naval operation near alaska and triggered a forceful response from the u.s. navy. is china getting ready for war? we'll deal with that next. ♪ there are some things that go better... together. burger and fries... soup and salad. like your workplace benefits and retirement savings. with voya, considering all your financial choices together can help you make smarter decisions. voya. well planned. well invested. well protected. this is american infrastructure, a prime target for cyberattacks. but the same ai-powered security that protects all of google also defends these services for everyone who lives here. ♪ if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs.

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stuart: china and russia conducted joint naval operations near the coast of alaska. how did the u.s. navy respond? >> well, stuart, this joint malassez drill is a -- that value drill is a sign of the joint threat of russia and china

and sent four of its own destroyers to shadow the operation and happened in the bearing sea from the islands and international waters and 11 warships from russia and china conducting joint drills since late july starting in the sea of japan and they worked on communications and destroying a mock enemy submarine with missiles and rushing supra aural headphones gave this video -- russia gave this video to the associated press and couldn't verify the date or location and largest navy operations in the world and not the first time but it is by far the closest to the u.s.. and the u.s. did respond sending the uss benfold and other operation to make sure they didn't enter the u.s. waters and dan sullivan was happy with the u.s. response and said in a statement "we've entered a new era of authoritarian aggression led by dictator in beijing and

moscow". >> china has more ships than our navy and airplanes and missiles and we've got to catch up and move with a sense of urgency. >> congressman mike alzheimer, a decorated veteran on the house committee tweeted china and russia sent 11 warships off the coast of alaska and four to respond sending the homeland and biden's defense budget is retiring more ships than building the russia and china joint drill and the fallout is just beginning. l stuart: brent sadler joining us now and are we ready for war over taiwan? >> it's a tough question and should be decided with war drag

on for years and we don't have the number that capacities and the number of munitions and that's playing out right now in ukraine and proving to us we've undercut our military strength for far too long. should have been a decisive war but not. stuart:? stuart: in your judgment, are the chinese on the verge of going after taiwan. is it imminent? >> imminent in the time frame of several years but not several months or even in the taiwan elections coming in january. i don't think it's that close but what i'm most concerned is the chinese are very, very confident they can take us on and be victorious and yet they still have to get a bit more fidelity on how we and our allies would respond and our commitment. they have to test us. some would call it an intelligence pool and that would be a violent test ramming one of our ships or bump an aircraft and basically an orchestrated

crisis to see exactly how responsive we are. this exercise up in the near the allusion islands should be seen and test of resolve and cap capacity. stuart: this is opportunistic ed and dei threat to our military academies, these once vulnerability duties on our country and excellence have become vectors for leftist ideology. today they all too often emphasize diversity over honor, equity for inclusion and is dei serious. >> dei kind of nomenclature and it's gnomen claman countdownture

and -- nomenclatures and unions for dei agents and this is a kin to supporting patetism that many want to exude and it's an erosion from the inside. stuart: susan: i didn't realize that. i'm used to seeing movers and documentaries on the old soviet union where every military unit would have a political czar on hand to make sure the military does the right thing and have the same thing in the united states military, a c comisar and could that instructor override the military commander of that unit.

>> if the idea is focusing in on the discipline of the crew and dei officer decided it was against the dicktat and it's reported up the chain of command to someone in a political position or someone in the civilian position well above that commanding officer and it erodes the confidence of war fighters and starts with something like this. stuart: thank you, sir. >> keep an eye on alaska. stuart: we shall do that. secretary blinken is getting backlash after a tweet criticizing russia's putin. come back in again, ashley.

i guess that would be an ironic thing to do. ashley: irony is the word being used by conservatives after blinken posted a tweet condemning russia's prosecution of opposition leader alexy navari and the united states strongly condemning the opposition of alexy and he should be released and critics calling it ironic, tone deaf, tyrannical. donald trump jr. weighing in saying exactly zero self-awareness. you really seeded the moral high ground here. wonder where they got the idea it's acceptable to joe your political opposition. the white house and department of justice did not respond to requests for rebuttal to the criticism and many saw the irony

in mr. blinken's statement. stuart: thanks, ashley. look at marges and same story the dow is up significantly at 300 point gain. boeing helping the dow to the sal id gain and nasdaq now down 23 points. big tech on the downside. what's coming up for you, extraordinary, singer knee owe said -- neyo said 5 and 6 year-olds should not be allowed to make life changing decisions about their gender. roll that tape. >> i feel like parent haves almost forgotten what the role of a parent is. when did it become a good idea to let a 5, 6, 12-year-old make a life-changing decision. neyo is now apologizing. we have the story. diversity, equity, inclusion position skyrocketing in the past couple years and more than a third of diversity professionals are out of a job. that story is next. ♪

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ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. stuart: it is time for this day in history, american built. on this day, august 7, 1959, the

first picture of earth was taken bay u.s. sal light showing a -- satellite showing a crescent shape part of the planet in sun lying. 1959. my goodness. don't forget to watch american built mondays at 8:00 p.m. eastern on fox business prime. get back to the market and the same anomaly. a very solid gain for the dow industrials and loss for nasdaq composite and nasdaq down 23. take a look at this, it's an op ed and why the bubble burst. adam coleman wrote that and joins me now. first of all, adam, what proof do you have that it burst? >> well, basically nearly a third of people who are within this particular industry are out of a job. what you saw was a rapid growth after the death of george floyd. you saw over 100% growth within

the industry so it's not just within the corporations but also within the outside companies, consulting firms who supported the dei industry. stuart: we've been talking a momenting a about the diversity industry, which is alive and very well in the nation's military of the pentagon. >> yeah, i think within corporations, ultimately it's about the bottom dollar. and the reason i knew this was going to be a fad within corporate america within some degree, it may not disappear completely but it'll drastically reduce itself and

the reason being is because dei doesn't earn any money and how do you rate the performance of diversity, equity and inclusion? purely based off of racial makeup of the organization, gender? so on and so forth. is that purely it and what's the cost benefit analysis of these particular things? i wanted to highlight within the article that a lot of corporate america presume they're doing something wrong when they had no proof they're doing anything wrong at all. coming flat configuration the panic -- coming from the panic and fear of outrage mob and high concern of liability, they started realizing all this department does, which much of the departments in larger corporations are outside of human resources. they're just another mechanism

siphoning and no idea what the productive measures are from it? stuart: one problem is if a corporation doesn't measure up with the dei, it'll be heavily criticized by interest groups that will probably and have in the past organized a boycott and certainly give some terrible publicities for the corporation, you're a bunch of racists, that's what they all say. that kind of holds the diversity industry in place to some degree, doesn't it? >> when you have a diversity officer, what is that officer exactly doing? when you have a -- basically just a whole management structure centered around diversity rather than it just being some sort of intention set forth by human resources, that's a little bit different. i think there are ways for corporations to cover themselves

liability wise without thinking that dei is a catch all, without thinking they're the end all be all for liability, which it won't be. i think many corporations are realizing this however some are being held captive because of the demand for massive corporations like blackrock who are wanting some sort of diversity measurement for finances. stuart: that was a great and timely article, adam coleman. thank you for sharing with us today. if you write something more on this, not to put you on the air. thanks, adam. see you later. >> thank you. stuart: earlier on the show, we told you about the singer ne-yo and indeed criticized parents that support gender transition at a very young age. well, now we find he's apologizing for his comments. come on, ashley. take me through all this.

ashley: yeah, yeah. it all began when ne-yo said he didn't understand why parents allow their children to make life changing decisions about their gender at such a young age. what's wrong with that? listen to this -- >> i feel like parents have almost forgotten what the role of a parent is. if yourly l boy comes to you and says, daddy, i want to be a girl. and you just let him rock with that? he's 5. >> right. and where did he get that from? >> if you let this 5-year-old boy decide he can do t he'll do that. when did it become a 5-year-old, a 6-year-old, a 12-year-old make a life-changing decision for themselves? when did that happen? >> right. >> i don't understand that. ashley: well, he's not alone saying that. the 43-year-old grammy winner said he comes from an era where a man was a man and a woman was a woman. all right, his comments got mixed reviews. some saying the father of seven children by multiple women

shouldn't be giving parental advise while others praised him for taking a stand. he did post an apology evening yesterday saying "after much reflection, i'd like to express my deepest apologies to anyone i may have hurt with my comments on parenting and gender identity. at the end of the day, i lead with love and support everyone's freedom of expression and pursuit". stuart: another one for you, anheuser bush heir or heir to handout heiser bush fortune sharing thoughts on bud light dylan mulvaney fee i can't say sew, what's he saying? ashley: billy bush said his ancestors would be appalled by the campaign with a transgender influencer. take a listen. >> i think my family, my ancestors would be rolling over in their grave and they were very patriotic and loved this country and what it stood for

and they believe the transgender and gays was a very personal issue. they loved this country because it is a free country and people are allowed to do what they want. it was never meant to be on a beer can or pushed in people's faces. ashley: in that interview with tmz, he was asked why he doesn't believe the beer is american anymore. bush doesn't think the audience drinking beer into transgenders saying "people that drink beer care about wholesome things and patetism and think certain things should be kept private and denied he was being prejudiced". sales in the u.s. dropped 14% year over year. big hit to bottom line. stu. stuart: that story doesn't end. thanks, ash. ashley: it doesn't. stuart: america's woman's soccer team out of the world cup and what upset many people was not the loss but politics involved.

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stuart: the u.s. women's team is out of the world cup and the team lost a penalty shootout kick to sweden. it was the politics involve that had upset people. 16 members did not sing or place hand on their heart for the national anthem and didn't seem to be want to be there. megan rapinoe came in late to the game and missed a vital penalty kick.

ashley, you're a big soccer fan and what do you make of the game and the politics of it all? ashley: look, the right to protest is one of the wondering freedoms we enjoy in the united states. however, there's the right time and the right place and the world cup where the united states is taking on countries as the rest of the world watches is the exact wrong place to do it. and to not sing the national anthem and to make those kind of protests. it's like trampling on the flag. it's embarrassing, it's disgusting and peep don't want to hear about politics when they tune in to watch their game. they want everybody to be enthused and want everyone to perform at their very best level and hopefully win the tournament but these political stands they take using this as a forum is just patently wrong and unfortunately the team went out and they didn't feel like they had it together this time around and rapinoe is the leader and

going out. stuart: elon musk, mark zuckerberg trading the verbal jabs online. any word on when the two might actually fight? ashley: no date yet and could be a fly in the ointment but did appear that chance is arising that the cage match maybe in vegas could happen and musk is lifting weights every day in preparation posted on social media site x normally known as twitter saying "zuck versus musk fight live streamed on x and all proceeds going to charity. fair enough and zuckerberg responded on threads platform saying this "shouldn't we use a more reliable platform that can raise must be for charity". to which musk said "shouldn't you focus on not letting your app die". you get a feeling and a sense of the verbal jabs and the battle of the egos and war of the

weenies goes ahead, take a look a looktale of the tape. in the blue corner, zuck in at 5'8, 155 pounds and lean and mean. he's a 39-year-old tech billionaire that wants to be a ufc fighter and trained in mixed martial arts and a blue belt in jujitsu. observers say she's small but scrappy and agile. elon musk at 6'1, reportedly 18d admittedly not in fighting shape. he trained in karate and taekwondo as a child but how much does he remember? it could be irrelevant if he doesn't have the stamina. late last night musk said he may need surgery on his neck and back and we'll give an update later this week. meantime reports say mr. zuckerberg has installed an octagon in his backyard and mrsy

about that. revenge of the nerds 5 is a possibility. stuart: i like that one, battle of the dorks-over whatever. ashley: dust up of the dorks. thanks, ash. we're still on professional fighting, jake paul had a key match with mma fighter nate diaz. how did that go, ash? ashley: well, he won by unanimous decision in front of sold out crowd in dallas. pretty much a one sided affair. paul dropped ex-ufc fighter diaz in the fifth round but diaz managed to recover. after his victory, paul challenged diaz to a rematch with diaz seeming to be receptive to that. there'll be a lot of money in the rematch. by the way, paul, who's been a controversial figure since days as youtube sensation is the focus of youtube documentary, untold, jake paul, the problem child. not only that, we understand our very own stuart varney makes a number of appearances in the documentary as he has interviewed paul on this program

a number of times. check it out and, stu, enjoy the royalties. stuart: yeah. dream on, stu. it ain't going to happen. i understand these things. thanks, ash. have a look at dow 30. sense of the market. if you looked at just dow 30, you'd think it's a rip roaring rally and for the dow 30, it is. we're up 329 points, 1%. i only see six losers on the screen, 24 winners. different story on the nasdaq though. chief executive at job site read balloon says the stigma on blue collar jobs is hurting america's infrastructure and he's here to explain, next. ♪

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ask your rheumatologist about cosentyx. wow, you get to watch all your favorite stuff. it's to die for. and it's all right here. streaming was never this easy, you know. this is the way. you really went all out didn't you? um, it's called commitment. could you turn down the volume? here, you can try. get way more into what your into when you stream on the xfinity 10g network. stuart: the ceo of job site red balloon pushing back on the stigma that surrounds blue collar jobs in america. andrew is with me now. first of all, why is there a stigma surrounding blue collar job these day s? why? >> good morning, stu.

great question. it's interesting that we have this baby boomer generation that earns so much money over the last 50+ years because it was a first generation where you basically had two earners in every household and so what happened is now there's an unprecedented apt of wealth generated and look at kids and say i, wonderfulled hard at the factory or worked hard building my career and i want something better for you and sending them off to college and sending them off to law school and low and behold, they don't want them going into the factory jobs or the construction jobs and there's a huge demand for this right now and look at america so far this year, we've had over 770,000 new jobs created or job postings for high skill or skilled jobs. these are blue collar or mixed collar jobs and businesses are looking to grow jobs in the skill type positions. but the problem is they can't find the people because a lot of

baby boomer kids don't want to go and dot hard work that their parents did. stuart: why do you say this in particular is hurting our infrastructure? >> if we don't have the people to get the work done. a lot of businesses are learned through covid that if you don't have a supply chain you can rely on, you're going to have your business and they have up precedented number of sales they made they cannot deliver on because they're waiting from chips from china or chips from asia somewhere else and looking at >> i owe political issues and they're happening in -- gio political ways and i cannot rely on a chain from outside the u.s. the way i used to and i'll fail as a business with the supply chain vertically integrated being able to deliver the work.

don't know customer on who pays the most or pitch a vision for what it is and we're helping build america and build houses and build the infrastructure that's going to be necessary for the next generation. when you pitch a vision for what you're doing and not just how much money you're going to ear, you're going to find that people are way more engaged in your job and you're building your employment brand with a whole generation of workers and they're willing to do the work more than just showing up to work and earning a paycheck. it's building our nation and when people start thinking like that and that's what we're doing at redballoon.work is building a brand that wants to work hard but they need a vision. if a employer can do that, they'll be surprised how many people will show and you happen do their work. stuart: that's excellent idea. andrew crapuchettes, thank you for being on the show. andrew, thank you, see you soon.

>> thanks for having me. stuart: listen to this, zoom wants employees back in the office. ashley, it's hard to ignore the irony there, isn't it? ashley: it really .s not even zoom employees can rely on zoom during the workday. they cold all workers within 50 miles of a company office to return for in-person work but get this, just for two days a week on a hybrid schedule and not a full return. zoom shares skyrocketed and working from online at home and october 16 in 2020, the stock hit $559. but towards the end of 20201, the stock took a major nose dive and they've lost $100 billion and right now trade around $68. for that glory yous moment in time, it was the thing. not so much now.

stuart: glorious moment in time. thank you, ash. this is the monday trivia question. i think i got this one right. which president gave the longest inaugural address? george washington, john adams, william henry harrison or warren harding. the answer when we come back. i think i've got this one. we'll be back. ♪ if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity. this thing, it's making me get an ice bath again.

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stuart: which president gave the longest inaugural address, washington, adams, harrison, harding, you are first? >> i have no idea, william henry harrison. stuart: i'm going with harrison, the answer is william henry harrison. 8445 words he delivered in 1841 it was a cold wet day and he insisted on giving the inaugural address caught a cold and died of ammonia a couple months later, now you know. "varney & company" time is up coast to coast starts now. >> right now on cavuto "coast to coast" stocks are starting this monday with the dow raleigh, the dow is just up session highs we have moments ago. were all over the market as investors try to crawl out of