will that come when the fed make as comment on the november rate s? >> you had it and a couple week when is the nasdaq pulled back 7, 8% and that was your correction. all pug-backs are viable and we're in a new bull market and trade to the long side and can't let the headlines spook you out of making money and this is where the money is made when everyone is afraid. get in and buy when you can. liz: dollar cost averaging never hurts. it is great to have you, vance. have a great weekend. folks there is the closing bell. the bulls trying to fight off the bears to close out a losing week and looks like the dow, s&p and nasdaq are going to do it. larry: hello, folks. welcome to kudlow, i'm larry kudlow. you have to wonder if joe biden cares at all about the health and well being of working folks in america. even with the softening of

inflation, the level of consumer prices jumped a breathtaking 16% during mr. biden's prices so far and electricity 25%, new cars 20%, used cars and trucks 34%. now the saudis and russians just announced more oil production cuts, which is raised the u.s. and world oil price by just short of 10%. that of course will spill over into gasoline prices before too long. what was mr. biden's response? he's decide to throw in by cutting current and future oil production. even more. whose side is he on anyway. the national wildlife reserve. those lease sales were part of the trump tax cuts legislated by

congress in 2017. in other words, biden is breaking the law. now, the supreme court has recently ruled that executive actions cannot substitute for congressional legislation. by the way, biden's trying to do the exact same thing with student loan cancellations. the supremes recently ruled executive cannot do that without congressional legislation. on top of that, lieutenant biden took 40% of the national petroleum reserve off limits for any oil and gas drilling. more production cuts in the future. playing right into enemy hands. remember opex+ includes the dear friends venezuela and iran. all this virtually guarantees that present and future gasoline prices will go up. very bad news for people that drive gasoline-powered cars, which is still pretty much all

of us. very bad news for higher future inflation. more bad news for typical blue collar families whose real wage take home pay will go down more than the 3% drop they've already experienced under bidenomics. by contrast, real wages jumpedded 7% during the trump year. incidentally farm price will go up because fertilizer price will go up and fossil fuel price are going to go up and oh, by the way, mr. biden's higher fossil prices will continue to help russia finance the war in ukraine. fossil fuels are the russian cash crop. finally, now, as kevin hassett pointed out and he'll be here in a moment, the biden phony hypothesis crisis, that could abolish nearly 500,000 jobs and

much more when you include folks working in dealerships and repair shops and gas station. that inconvenient reality may lead to a uaw strike against the big three car makers, which will sink the entire economy. guess that's what they call bidenomics. all right. joining me the aforementioned kevin hassett, former chair of council of economic adviser and uaw anticipating an electric shock and, kevin, there's a compelling argument here and a lot of big numbers. why don't you start us off and i'll try to help out. >> yeah, thanks. i started studying the uaw strike earlier this week and noticed something really dramatic, which is that the wholesale push to electric vehicles is an existential

threat to uaw and uaw is posturing strike and they're serious about it and what's happening is biden says that electric vehicles will make 1 million jobs and make a million jobs for electric vehicles, you're making everybody change their job and not the same people. what's going on is auto makers are putting new factories down in tennessee, which is out of reach of the unions, and they won't necessarily organize for the uaw and uaw is going to hemorrhage jobs so it takes 40% fewer workers to make electric car than a gas-powered car. that really means that 40% of workers in the uaw will be out of work if the evs shift that biden is advocating and subsidizing happens. larry: so the new president of uaw understands all this? he probably hasn't even talked to you, but he's still probably a pretty smart guy, and he understands all of this. >> he is. larry: what else is at stake

here? talking about a roughly 500,000 jobs lost and you mention in your article and i picked up on this, that doesn't include the sort of spillover effects. you've got people working in car dealerships and repair shops and gasoline stations that by the way is people working in restaurants and diners and all that stuff. uaw strike against the big three could basically sink the entire economy. that's what it sounds like. >> right, that plus the higher prices could toss us into a recession. the bottom line though is that there's 7.5 million people related to the car industry and if the electric vehicle shift is a 7.5 billion and electric vehicle shift happens, then all the people who are skilled mechanics or all the people who own a gas station, all those people are going to have to

radically change their lives, and the thing that's really distressing about that, of course, is that we've seen this before. when china entered wto and a whole bunch of factories around the country closed and net benefit from trade will make up for it. but the people who lost their jobs and those small towns that closed their factories, they ended up being the subject of the noble prize winning economist book about depths of despair. there was massive, massive human costs for the factories closing when china entered wto and by my estimate, this electric vehicle switch will be a bigger shock to american workers than china entering the wto and it's a human catastrophe waiting to happen. i think that, sure, i understand that a holt of people are serious about climate change and something that i'm not a climate den, but you have to think about this tran transition and managet better than they're doing and the perspective in the 2030s and that happens and millions and millions of lives will be

disrupted. larry: on that point, there's a couple of little nuggets that you mentioned i want to follow through on and get your take. look it, i'm not a climate denier either and 1600 sign tyes put out this statement that there's no climate emergency and no immediate existential threat emergency. they say that climate is an issue and climate transition and so forth but there's no emergency and not something needed for the 0-10 years and get rid of gas powered cars by 2032 or raise miles per gallon in 670. refit in order to meet the new

emissions standards and strikes and job losses and sinking economy. that's my question to you. this is the flaw in biden's thinking. >> the appearance of emergency is something that most people think if you believe the models and climate models is way off. but there's a benefit to starting sooner and right because starting sooner because there's an effective moving earlier is something that you could have that policy argument and to say there's a current emergency, you're right. that justifies putting millions of people out of work and doesn't make sense about it. they're ignoring real human cause. think about this transition of

the depths of despair and really concern that had there is potential human emergency about what this transition can do to all lives of people. the lives of becoming a skilled mechanic or becoming a skilled auto worker and you're out of a job and what are you going to do. i don't think that's anything the bind administration or frankly anybody pushing the policy thought about and giving us a solution to. larry: when china entered the wto, certain conservatives will never acknowledge, i think, that the china entering the wto is a problem. but when they entered the world trade organization, what, they had higher tariffs and cheaper goods and more current manipumanipulations and they've damaged american competitiveness and cost american jobs in these small towns.

is that what you're seeing. china wt o/u.s. manufacturing connection. >> there's a really big and very interesting scientific literature on this. what happened is before china entered wto and that makes it on every year and they didn't and they would. they're worried we wouldn't get mad and the government and the chinese production and so what happened though is that the smooth high schoolly terrorist is married by goods and other things and the promise was they'll look at places protected bit uncertainty and smooth holly tariffs and the places that ended up being the focal points and entering the wto and little miltown that are being and

smooth holly tariffs no longer protected and they moved to china and people lost their jobs. larry: that's right. well done, that's a important point. at some point in the future, we'll come back and talk about the implications of that because they're still around. last point, kevin hassett, the probability and likelihood that the uaw will strike. i mean, they sound very unhappy with biden and very unhappy with gasoline cars and very unhappy with the ev business and the subsidies and they're very unhappy and they're not going to fall into line but what do you think does the uaw actually go on strike? >> yeah, i think it's very, very likely and say 90% likely. obviously poll cigses are involved, but i think the strike is very likely because if you look at the actual sort of factual statements, not just the sort of angry posturing of the uaw, they understand the forces that you and i are talking about very clearly. they're experiencing them and in

fact, you know, one study that i site in the article found already worldwide 80,000 auto workers lost their job because of the ev transition. 80,000. sot uaw sees this already and they know about it and my guess is that it is an existential threat and they understand it. if somebody points a gun, you get nervous and there's a gun at the head of uaw and they'll all lose your jobs or many do and they understand it. if i were president of the uaw, i would strike for sure. my expectation is looking at rhetoric they understand why i'd make that decision if i were them. it'll be a long strike as well. it's not just another $10 an hour. larry: yeah, no, it's actually -- >> who's going to get the job at the tennessee plant that makes evs.

we have two gas powered cars. highest domestic content. better than kevin hassett. folks up next on kudlow, the demodemocrats are so desperate o stop trump in 2024 that they're breaking every law. they're breaking laws left and right. by the way, they want to keep them off the ballot. just uniformed all the secretaries of state in the democratic states trying to keep them off the bout if they can't do it. we'll talk about it with former -- with former missouri attorney general and current missouri u.s. senator mr. eric schmidt when kudlow returns. folks, here aerod's a hint, hano

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when i first learned about my dupuytren's contracture, my physician referred me to a hand specialist. and i'm glad he did, because when i took the tabletop test, i couldn't lay my hand flat anymore. the first hand specialist i saw only offered surgery. so, i went to a second hand specialist who also offered nonsurgical options - which felt more right for me. so, what i'd say to other people with dupuytren's contracture is this: don't wait —find a hand specialist trained in nonsurgical options, today. i found mine at findahandspecialist.com. larry: all right. democrats break the law trying to use the 14th amendment to

remove trump from the 2024 ballot. this is crazy and undermines the entire constitution and it's deliberate but look, talk to senator eric schmidt. he's the current missouri senator in the united states senate. at this particular time make that very clear. distinguished senator that he is and he's a former missouri attorney general. i don't know if you were ever secretary of state out there in missouri but, look, judge michael mckazy lost a very smart guy and writing in "the wall street journal" today this is all phony bologna and secretaries of state have no business or legal rights to remove people from the ballot. interestingly enough, senator, before you weigh in, there was a piece in the journal, i don't know, a day or twoing a, that georgia secretary of state, whatever his name is, rasberger, who i believe is not a supporter of donald trump, but he makes

the same case. he said people should vote on this, secretaries of state in these state haves no business removing candidates from the ballot. that also is unconstitutional. anyway, what is your take on this craziness, mr. schmidt? >> it's insane. i can't believe we're having this conversation and the democrats lost their minds and trump derangement syndrome is real. seek treatment and don't try to deny the american people, tens of millions the ability to vote for who they want to be president. i mean, the democrats and you just look around, whether it's political prosecutions that's banana republic stick or the reasons they have for ignoring court rulings are now trying to deny president trump the ability to be on the ballot and want to live in a post-constitution america. we can't let them get away with it. i don't know where the end is with this.

and that's why we reaffirm in the country we the people get to decide these things and not permanent washingtons and it's the american people. who's on the ballot strikes the hardest and people speaking their minds and volting for who they want and it's about donald trump and it's an affront to the american people. larry: it could affect anybody. not even jack smith, special council charged trump with insurrection and that's what secretaries of state are trying to co. there's this civil rights, which was completely, this is a complete misuse of that or miami oturu a lawyer and that's how i read and people i respect, allen had the same point beside the judge. let me ask you though, senator, look, i've become very, very cynical about this, you can't help it. is all this stuff, you know, the

secretaries of state trying to keep trump off the ballot, all these indictments and grand jury. is this coordinated from the white house along with the biden reelection campaign. or can i connect dots here and they'll do anything against trump for sure, but probably if somebody else were the candidate and they would do it against that person also? this legal stuff, grand jury stuff and secretaries of state stuff. is this all coming out of the white house? >> absolutely. i think the biden is sort of the head of the snake here; right? he is the mouthpiece for the radicals that have taken over the democrat party. this is not your democratic party and this is the radical

wing that's taken over and there's no norm they won't break, no law they won't break and it's all about the result and they're hell bent on powering control and you look back for covid just being a play book for them in many ways and able to use an executive action and sort of this benefit to the election laws and they'll use these indictments they've initiated and former impeachment and tale of the tape and it's about going after the american people. we know what they really think, you've got hillary clinton talking about basket of deplorables and barack obama looking down on the american people. they don't understand how 2016 happened and they don't want to let it happen again. but, you know, the idea you'll deny somebody this legal theory and president trump's ability to be on the ballot trying to put

them away for the rest of his life, it's just nuts and again, i can't actually believe as a lawyer, as a citizen that we're really having these conversations and they broke the seal going after former chief political opponent trying to throw him in jail for the rest of his life. it's not that surprising they're moving forward with this, but the american people ought to be outraged and, larry, i'll tell you, i get arnold the state a bunch in missouri. prosecuting a political opponent and now daning a spot and this is uncharted dangerous territory for the republic and we've got to stop it. before we lose you senator, you're awful good with your time i want to play sound from your

jowski i think we need a change. i've said that for months. >> mr. holly would like mr. mcconnell out for one reason or another and do you agree or have a different take on it, senator schmidt? >> i didn't support mitch mcconnell for leader and came in as the first vote and everybody is trying to get the arms around the health issue and my focus with senator mcconnell and he spoke in front of the caucus and most people are making sure that he's healthy and seems to be feeling better. we'll see where it all goes and

not much for the palace system of articulation they pull republicans along and spending way more than we have and we have to be energy dominant and to me, it's all about moving an agenda forward and that's where i'm focused right now. it's maui decision aster and ukraine financing in and republicans in my should not support that and one big ballooning on the omnibus bill growing larger and larger and big difference between ukraine and maui disaster and should be stopped and what's mitch saying about that in the tuesday launch in stuff. >> we haven't heard about that,

yet, i agree with you, larry, we ought to take these issues up like appropriations bills that are coming and reach the september 30th. snout torrs and republicans and democrats and people should judge us on the votes and these omnibus bills decided at midnight with all the un-related stuff people haven't read. it's on the supplemental stuff dealt with individually and they should stand on their own whether it's ukraine funding and disaster relief stuff and the boarders when we don't do anything about our southern boarder and i get tired of hearing about how we're going to support the infrastructure in ukraine and we're canceling leases in alaska righted now and we're relying on china and united states of america should be energy dominant and exports liquefied natural gas and all kinds of other things to the countries and we're not doing that and let's handle them one by one and the american people

would be with us and that's what the republican party ought to stand for. larry: thank you, sir. we appreciate your time and views very, very much. all right, folks, coming up on kudlow, congress is investigating special council jack smith's office for abusive tactics. that and the trump mar-a-lago documents case. we're going to talk about that and i want to talk about the state of play for the impeachment inquiry and maybe other things. we have superstar congresswoman claudia tenny coming up. plus, a brand new poll showing practically every gop presidential candidate beating president biden in 2024. what do you think of that? they all beat him? very interesting. we have a panel. we've got joe concha and more to weigh in all that when kudlow returns. ♪ tourists that turn into scientists.

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larry: let's be blunt and straightforward about this, did special council jack smith try to bribe trump defense lawyer stanley woodward over a judgeship? may be a few other kernels in this story. joining me now to talk about it is super star new york congresswoman claudia tenney, our great friend. you are a super star. claudia, this is back in the news and jim jordan requested all the documents and communications between jack smith, the special prosecutor in his team. stanley wood ward and he was defending one of trump's assistants walt and may have been defending his other assistants but the issue is they dangled something and look more kindly on your judgeship if you backed off this defense and

overstating or understating and that's going to get your attention. can you help us out? >> more than raising eye bros and jim jordan asking for this and saying look, we want you to flip on president trump and if you otherwise you went goat get that judgeship on joe biden's desk that you can sign onto. there's ethical rules for all lawyers including prosecutors. so we've seen this throughout this dirty cop merrick garland's appointment of jack smith. this guy is terrible and abusive process and malicious prosecution and all the things that would come under and going after prosecutor jack smith that's done in one way or another and what jim jordan can do and put those documents together and what hammed. did this guy allege that the stanley woodward this happened,

the attorney, and happened in other cases and this is no surprise to anyone. they're plotting and planning this from the white house and they've come from fulton county judge and other prosecutors, state prosecutors, alvin bragg's people may have been at the white house and this is all coordinated and no doubt in my mind and we have to put this together and show that. it's part of an impeachment inquiry. larry: the rumors were the white house people, senior staff people, bid arkansas bind, whoever, was in consultation with jack smith. but jack smith is supposed to be independent and he isn't. they were talking and white house give the marching order and fanny willis marching orders and alvin bragg and who knows,

trying to bribe or extort as you say this defense, stanley woodward by the way is supposed to be a very good defense lawyer. >> yeah, and everything they're doing is trying to overwhelm president trump and the election president and election interference at its worst and using through litigation and often litigation is used to smear somebody and using it too much and it's impossible for president trump to actually run a campaign and they're going back 2.5 years on some of the claims and if these were so urgent and so important, why would they not prosecute president trump two and a half yearsing a and now you're saying everyone is pretty much beating joe biden in the polls. is >> another thing, larry, this energy thing is so big. when joe biden is cut off our

ability and shutting down the drilling on federal lands and i'm clinging to my gas-powered car. gas powered motorcycle and gas-powered stove they're trying to take away from me in washington. this is all critical election interference and we've got to stop it. it's terrible for the american people and starting to get it with information out there. larry: now as you mention it, one of my favorite top ibrams but the fact of the matter is the saudis and russians along with venezuelas and iranens are cutting production and present and future production in alaska and he's throwing in with our enemies, basically to jack up the prices of fossil fuels, which will decimate the economy and real wages and farmers and fertilizers and you're up state new york. you know all about that side of the story. biden's throwing in with the

saudis and the russians and the arraignens and venezuelas and doing the same thing they're doing. we're all cutting production and now there's -- giving jack smith the marching orders and find out he dangled this judgeship, isn't that a gigantic offense? i mean throwing out and impeached, thrown in jail for 100 years and i think we lost her. we lost her. anyway. nobody better than claudia tenney. she put her finger on the pulse. all right. she's not this. she's not. i will thank claudia tenney in absentia. let us move on. we have a rip roaring panel. there's a new poll showing practically every gop candidate beating biden. practically everyone beating biden. we have the polyp there? yes -- the poll up there? yes, we do. can i read the poll? hold on.

>> 49 nicky haley and 47 desantis and they're tied with biden and pence beats biden 46-44. christie beats him, 44-426789 joining me to talk about this joe concha, he's not running and if he were, he'd beat biden is media and politics and fox news contributor and what's the book? the book, the book, the book. >> come on, man. >> it's a terrible presidency and my very dear friend roma daravi and communications director and founder and ceo of daravi strategies. joe concha, what fun is this, everybody beats biden? >> tells you something about the democratic nominee. larry: oh, okay. >> it's a referendum on heim -- biden and there's the bad news on team biden is question to ask is do you think joe biden will get stronger or weaker heading

into election day? that's still 424 days away and we've seen 380 vacation days he's take anne donovan the years. will americans embrace bidenomics because seven in ten aren't right now and will the migrant cry i cans overwhelping small towns in texas and arizona suddenly resolve itself? probably not. will americans embrace a sending $520 million to ukraine and they have cleaner energy and we can talk about crime and talk about education and the fact that democrats support abortions after the first trifoliate middle ear spacer and polling way down on issues and the person himself and joe biden only getting older and-back weaker and this is not good 400 days out from election, larry, larry: roma, you're a californian, is that right? >> i am. i am. i'm proud. i will die in the grave trying to save california. you know that, larry. larry: let's not go too far down

to road. the question i'm going to ask you as a -- why is gavin newsom pulled himself out of the race? just said no. he actually said it on sean hannity show and said it again. i mean, a lot of people would tout gavin newsom and don't have to agree he's very liberal and a good guy. nice fella, classy guy and might conceivably move to the mid and will would be able to walk across the street to summit joe's points without falling down and why is he pulling out in this great endorsement of kamala harris. it's r really -- >> he is really pulling out. larry, it's always a no until it's a yes. with this poll, it's the first time in my opinion the democrat strategist don't know whether or not they want a trump biden rematch. this shows them that it's not going to make a difference if it's not trump up there. it will always not be biden it's

no honest segment out of cnn that spawn i'm worried about the republicans taking this. sit back, relax and say we've got it in the bag. you really can't do that . i mean the american people are suffering right now and they deserve to have a party that is going to fight for them and they deserve to know that they have the gop putting every single effort into this race. larry: right, but, but, but your first point and leave gavin aside. the meaning of the cnn mind you saying everybody beats biden is a democratic strategist should not be happy with that, even in the white house and joe conche i was reading in in the town hall argument and a democratic

strategist and the problem with biden he hasn't fulfilled important planks and important cancellations and voting rights codifying rights and universal pre-k and family tax ra rates ad left wing socialist stuff and not far enough left and this poll says he can't beat anybody on the right and what's joe concha say? >> the core base of biden from the left is not with him. he didn't break or look at voter priorities and all those things aren't even in the top five the top five are economy, immigration, education, crime and a fifth. maybe abortion is fifty. fifth. maybe put trust in government is up there and all these things

and it's not what wins you the indianapolis dependents, u bourbon moms and ohio, pennsylvania, and more. larry: someone has to run against him. last word, roma as a republican. larry: nancy pelosi is running again. >> she may win. larry: i'm sure she'll win from that district. see may -- >> san francisco is just a beautiful rising star in california. larry: sure it is. you have to wade through the homeless and so forth but don't go to wars. >> i love to compare to my city. it'll be donald trump, it really well. >> i hope we have atrium and biden ticket, i really dorks because the american people deserve that. they voted for joe biden is they will vote for donald trump this

time. larry: joe concha, who's going to run against joe bide anne donovan a hypothetical democratic pryor player that doesn't exist? mine exists. >> let's be clear in 2020 larry: it's right. it's never what was your phrase? >> it's always a no until it's a yes. >> i wrote it down. larry: going to write that down. there's a book in that. it is always a no until it's a yes. joe and romadavari, the company suing joe biden for break the law in alaska. congress passed a law and it had sale, lease sale agreements for the and war and they've broke than law and somebodies that to sue them. we're going to talk to mike summer ahead of today. we need a lawsuit before the show is over.

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larry: we need a lawsuit. before this show's over, and you know this, the tax cut bill of 2017 mandated two lease sales in anwar and the biden's by executive order are trying to re-race a congressional law. you can't do that according to the supreme court. what do you say? >> that is exactly right, larry, it's not authorized under the tax cuts in jobs and this is one of the pay fors and the refuge and this is an absolutely outrageous decision. it sacrifices american energy

independence to the environmental left and api filed a lawsuit against another decision that they made a couple of weeksing a and caught off access to the gulf of mexico as well. they took 6 million acres off the board in the gulf of mexico. that's lout there and we should expect more in the future. larry: you'll come at him as is right and the law. the bidens have a habit of ignoring the law and supreme court decisions and this has to be stopped. in your case, it's about fossil fuels and this asupplies to everything across the board, mike summers. >> larry, they're sowing the seeds for future energy crisis. they're 96% below where they should be in terms of on shore leasing in the united states. we get about 25% of american oil and gas from these federal leases. they're ensuring that we're not going to have access to oil and gas in the united states if they continue to make these terrible

decisions. this should be a concern every american with consumer prices are going to go up because of decisions that are being made by the biden administration this year alone. larry: these are in effect more production cuts and future production cuts and throwing in with opex+ and these are future production cuts. >> that's exactly what this is. they're cutting off access in the gulf of mexico and cutting off access on shore in places like the permian basin and the state of alaska is one of the most supportive and the unions in alaska and republicans and democrat haves united behind producing more in the last frontier. not less. i was just there last week, i can attest to the fact that alaskaens want this production. larry: mike summers, thank you, buddy. well said. with flonase, allergies

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i built this. and it was easy, with a partner that puts you first. godaddy. larry: i tell you, uaw strike over revolt in electric vehicles is a economic disaster. let me say. let's go to liz macdonald and see what she's cooking up. liz: larry, thank you for a terrific show and have a good week. we have a jam-packed hour of news coming in. we have fights are growing, more states trying to kick trump out of the 2024 race and even more trump allies were threatened with charges. but da fanny willis enrage