tv Varney Company FOX Business September 14, 2023 9:00am-10:00am EDT
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levels, and cpi following suit for some time to come, is that a reason to buy oil stocks mark tepper. mark: yeah energy sector overly looks incredibly strong especially when you look at energy sector versus consumer discretionary sector we've been talking about energy prices go up you have less money the end of the month so, yes, i would buy energy right now. >> good conference dow industrials up 151, 30 minutes before opening bell thank you ken, douglas holtz hots stephanie pomboy, mark tepper cheryl casone great stories great interviews tomorrow another big day republican presidential candidate vivek ramaswamy 8:00 eastern found us for that stay right here "varney & co." picks it up now stu stuart: good morning it is important and it points watt fio interest rates and your standard of living. prices paid by businesses and the producer price index up 1.6%
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over the last year after going up 0.8% in july. inflation is picking up. now, watch out for energy price inflation as well. that's picking up some steam too. gas prices averaged $3.85, up just a little. in california by the way, regular gas is $5.50 a gallon. diesel, that's reached $4.52 a gallon. this is what happens when oil hits close to $89 or $90 a barrel. early this morning it hit $90 a barrel. highest price since november of last year. here's how stocks are reacting to the inflation news. the dow industrial is going up, 161 points and s&p up 22 and nasdaq up 63. apparently the market's not too worried about a slight up tick in un-fellation. interest rates, let's chuck out the 10-year and 4.25% and down just a fraction in terms of yield. the two year hit 5% earlier this
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morning. right now it's back down to 4.97%. not much reaction to the inflation news. we are approaching the midnight deadline for auto worker strike. ford says it's made several new offers to the union but has yet to receive a response. the union may start with strikes targeted at individual plants and if the talks drag on, that will be expanded. the theme for the program today: a president overwhelmed. he is old, he is tired, his policies are failing, america is getting poorer. the cause for him to -- calls for him to step aside are growing, especially from democrats. high stakes, big show. thursday, september 14th, 2023. "varney & co." is about to begin. ♪
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stuart: adam justin just said hot stuff is the name of the song. must be on inflation. >> that's the inflation thing, it's a little hot. stuart: the latest on infuriation, latest producer price index, laurie arkansas lauren is here to talks through the report. lauren: inflation fellation is hot. hot stuff, inflationary pressures remain strong at wholesale level and this is eventually passed onto consumers and producer prices, rising 0.7% from july to august. nearly double what we saw the prior month and 1.6% year over year from last august. look at core, that's when you take out food, energy and trade services. it rose to more modest 2.2% annually. bottom line to me is oil is the problem. energy is expensive, gasoline is expensive, but the consumer is still strong because we also got retail sales for august and they rose a strong 0.6%.
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it's this push and pull again is we're managing to get by despite the high prices. at what point does that equation break? stuart: okay. adam johnson with us this morning. why don't you answer this question. >> let's hear it. stuart: the market goes up even though inflation ticks up. explain, please. >> could have been worse. today we got four different reads on inflation; right? year over year, month over month and subtleties on how they're reported. two of the four were in line, two were hotter. that's what we saw yesterday with consumer prices. two in line, two were hotter. could have been worse. the other thing is, stu, this is not a surprise. look at spending that we have seen over the course of the summer; right? people are making money, thank goodness, and they're out there spending money. it's not a surprise and as lauren points out, oil is high. the reason oil is high is president biden restricted drilling here in the u.s.. we're still not producing the amount of oil producing before covid and before he came to office. that's because he's restricted. that's the problem.
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biden is one of the reasons why inflation is as sticky as it is. stuart: a-r-m, arm, they're going public today. oil at $89.81 right now. go back to arm for a second. they go public today. this is a chip designing company. >> yep. stuart: supposed to go public today and we'll get a price a bit later on how they actually open. are they the new nvidia? >> there's a lot of debate as to whether they are and i as an nvidia holder would argue, no, they are not. stuart: don't dilute the holding. >> don't take my favorite stock or give them competition. no, nvidia focuses on what are called gpus, graphics processing units, and those are the big powerful fast ones where as arm focuses more on cp us or central processing units and not as fast or powerful. you can't use them for ai all though i think arm does want to go into ai. remember, about two years ago, nvidia tried to buy arm to build out cpu business and the
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antitrust regulators wouldn't let them buy it. it's a different company. stuart: this ipo is, i'm told, ten times oversubscribed and there's a huge demand to buy this thing. >> oh, sure. stuart: is that giving the hall of wall street and sector a shot in the arm? >> that's a vote of confidence. that's important. seeing inflation running hot and craziness in washington that we have right now, to see that kind of demand, especially after the dirth of ipos. no one wanted to buy anything for a long time and last year was hard in the market and we're starting to get back to normal. stuart: brought your new suit and staying for the entire hour. >> i'm wearing chalk stripes and feel like i'm back in the 80s. stuart: you don't reck the 80s but you're here for the hour. white house not happy about impeachment inquiry, and they want the media to do something about it. so u lauren, what are they asking the media to do? lauren: i don't know if this is normal, but they have asked the media to investigate the house republicans who are scrutinizing
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the biden family. stuart: really? lauren: ian sam sent a forceful letter to news organizations, all the big guys, and he called republicans liars in this letter, in this memo. he said they spent nine months investigating the biden family and have yet to turn up evidence to support an impeachable offense, and he even listed all of the house republicans, there's about 30 of them, who agree -- who have said there's no evidence that is imfeatufeature peachable. impeachable. my question is, is that normal? i've never heard of anything like that. maybe you have a meeting or phone call with one of the high ere ups or executive organization but a media outcry? >> that's no one as corrupt as biden and they did it with facebook and going and will now the mainstream media. it's mind boggling. i thought obama was bad and the
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biden administration taking it to a whole other level and trying to manipulate the way we think and talk. lauren: caught me off guard and thought it would be more behind the scenes than that but thought it would be behind the scenes in that letter. stuart: white house press sec tar karine jean-pierre snapped on a reporter during the press briefing yesterday. watch this. >> certainly not going to speculate on what has been baseless inquiry that the house republicans can't even really defend themselves. that many house republicans have said, they said, they couldn't support their own votes. they have spent all year investigating the president. that's what they've spent all year doing. have turned up with no evidence, none. that he did anything wrong. stuart: actually, went downhill from there. she did indeed snap to reporters question. ben domenech with me. the media seems to be turning kind of testy with the white
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house these days, and i get the impression that the president is overwhelmed. what's say you? >> i think he's absolutely overwhelmed, but i also think he's so out of it at this point on such a regular basis that the white house is put into a very difficult position trying to find new ways to spin the stories that he invents and behavior on the international stage and frankly when it came to karine jean-pierre's performance the other day, this shows the gap between the spin that the white house has been advancing over the past year and everything that we've learned over the past year regarding the 20+ l.l.c.,s set up by hunter biden on what have of his family in order to flood this money through in ways clearly designed to try and hide it. the fact that we've learned to a much greater degree than we did before the fact about the 20+ million dollars directed to family members, not just hunter himself but nine members of the family. and i think that we're going to
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learn a lot more if, you know, as this inquiry goes forward, they're able to access bank records and other records that they haven't been able to get access to beforehand thanks to their new subpoena power. stuart: as you know, ben, biden's age is a growing topic even among the liberal media. ben, just watch this, please. roll it. >> everybody we talk to, every political discussion, all talks about trump but when it comes to joe biden, people say, man, he's too old to run, isn't he? i mean, he's not going to -- he's not really going to run -- democrats off the air will say joe bind's too old. why is he running? on the air, they won't say that. stuart: ben, the white house has to be listening to this. i think they're rattled. >> well, i think the column that ran in the washington post really was the permission slip for a lot of people, especially those who are in the more sentries part of the
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democratic party and feel like they can raise these points and there's a limited window to be a potentially different can dade. i don't think joe biden will step aside until there's a massive forceful push by democratic leadership that says you're just too hold to run. stuart: the time is right now. >> i think we're seeing that push finally creep into the public eye in a way that's been going on behind the scenes for awhile. i think it's only the beginning of what we're going to see publicly. we're going to see much more of a push, and i think part of the thing that they have in mind is concerns about kamala harris as a candidate going into next year and i don't think joe biden will let go of this thing he's been pursuing his whole career so easily. if he does, he may do so at a point where they have no choice but to run with kamala harris next year. stuart: that would be interesting and fascinating, wouldn't it? ben domenech, thank you for being here. >> thank you. stuart: quick check of futures,
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green. surprising amount of green given inflation numbers this morning. dow up close to 200 points. coming up, the white house defended its prisoner release, the release deal with iran. watch this. >> i also want to be clear, this is not a payment of any kind, it's not ransom. these aren't u.s. taxpayer dollars and we haven't listed a single one of our sanctions on iran. we will continue to counter the iran regime. stuart: i want to repeat that. it's not a ransom if taxpayer money is not involved. that's interesting. see what wisconsin congressman mike gallagher has to say about that. he's on the intelligence committee. a new quinnipiac poll has biden and tram nap a tie. chris christie is the anti-trump candidate and he'll join me on the set right after this. ♪
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♪ ♪ stuart: i wonder why we're playing bruce springsteen? we are actually looking at cape may in new jersey, 72 degrees and real nice day there. take a look at this, it's a poll that's from queen pea yak. biden leads -- quinnipiac and biden leads trump by one point if there's a 2024 matchup, 47-46. presidential candidate and former governor of new jersey chris christie.
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governor, great to have you on the show. >> thank you for having me, stuart. stuart: you staked out your position as the anti-trump candidate and not much impact on the polling. >> not yet. you know what, look, it's really not about being anti-trump, stuart, what it's about is telling the truth. our party needs to hear the truth, and the country needs to hear the truth. joe biden hasn't been telling us the truth and barack obama didn't tell us the truth before that. it's been a long time since a president told us the truth, and i intend to be the one that does. stuart: all right, let me get to the issues and governor of new york state, kathy hochul and she's considered, i'm quoting, unprecedented work authorization for migrants in the state. should they be allowed to work? >> shouldn't be here in the first place. stuart: but should they be allowed to work? >> if they're going to be here, might as well put them to work as long as they pay taxes on top of it and collect those taxes at the time they get paid. stuart: if you allow them to work, that's like a magnet for
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more to come across the border. >> the way to stop them from coming across the border is finish the wall, put national guard at the border that intercepted fentanyl and custom border patrol and all the things joe biden didn't do when he became president and stop kathy hochul and eric adams and phil murphy in new jersey saying we're sanctuary cities and san antonio tear states and said that when there was no cost involved and now eric adams is complaining day after day about how much it's costing his city. he shouldn't have made the sanctuary city to begin with. all these things are coming home to roost. the fact is that we had to deal with what we've got here in new york city and this the country in a much more realistic way. stuart: i'm interested in how far you'd go on the border. for example, governor desantis in florida, he supports deploying the military, not just the national guard, the military on the border. would you go that far? >> i don't think we have to or should be putting the military into domestic law enforcement. we can use the national guard
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partnering with custom and border parole and they'll be able to do a very, very good job. stuart: that's job one, close the border? >> day one that's what we have to do because if we can't get control of our own border, we see the impact on american cities. if we can't be a great country without having great cities and our cities are deteriorating terribly. stuart: the current governor of new jersey, phil murphy has a policy preventing school from telling parents about children that questioning their gerund. garner, who has the authority over the children, school or parents? >> it's the parent. this is the wrong headed policy i warned new jerseyens about as i was leaving office in 2017 when phil murphy said he wanted to make new jersey the california of the east coast. he's doing it with these kind of policies. here's the problem with it, nobody cares about children more, loves them more and can help them more than their own parents.
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to exclude their parents from knowing when children are expressing those kind of concerns to employees at the school system, it's just dead wrong and parents placed at the front of the line and not back of the line. stuart: schools are a local, a state issue. if you become the president of the united states, you're operating on the federal level. >> yes, sir. stuart: can you make the changes at the local level that you want as a president? >> sure. you can do it by speaking out and using the bully pulpit to say this is wrong and move public opinion. can't do it technically legally and can do it by changing opinion. stuart: how far would you go and ban gender affirming care for young people? >> i wouldn't do that. again, this is inconsistent with the point i just made. i want parents to be in charge of takerring care of their children. i want parks to be in charge of making -- parents to be in charge of making those decisions for minors. i don't want governors in some capitols making those decisions but mothers and fathers that love their children and understand them and have a greater stake in them than
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anyone to make those decisions. stuart: school choice? >> absolutely. parents in charge as well. we need to make sure parents are at the forefront of deciding where they children can learn best and where they send them so their values are being reinforced every day and not undercut. stuart: you attended a, i think it's called a no bs barbecue. it was in new hampshire. >> yes, sir. stuart: you're on a campaign stop. tell me, are the people going to be on the debate stage, less than two weeks away, here's your opportunity. who do you think spews, if i may use that word, the most bs? >> stuart i'll base it on the last debate and no doubt it's vivek ramaswamy. he has absolutely no clue what he's talking about on ukraine, no idea what he's talking about with china and taiwan. hep wants to abandon israel and we hindus the award for debate number one and we'll be together in california in two weeks and make a decision on who spews the
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most in debate no. 2. stuart: no, sir you you make that decision. not me. you have to believe you can win. realistically, i don't think you can win the governorship of new jersey at the moment. >> look, given what phil murphy has done i think i would win in new jersey again if i ran but that's not what i'm running for. i'm running for president of the united states and we're in second place in new hampshire, ahead ophryon desantis and -- of ron desantis and nikki haley. >> that's your hope is getting ahead in new hampshire and iowa? >> yes, sir. each one of the primaries or caucuses happen, it changes the race completely when people vote as opposed to all the polling we see. polling is hot air and voting is going in and making voice heard. that's what we're counting on in new hampshire in late january and i'll come on "varney & co." after i win the new hampshire primary and talk about it then. stuart: that's a possibility, sir. thank you for being with us,
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stuart: i see green. gary cal p balm with me and i see how it trades. >> just so you know, this used to be public a long time ago and they went private and they're coming back out again. semiconductors as a whole are not acting well and there's a lot of oversupply and i'm not a big fan and it'll go on the screen and they're a big company and they've done well in the past. stuart: which tech stocks,, if
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any, are you buying? >> we own amazon and it's the one that new yearly highs and that's showing strength. i can tell you that meta, tesla, nvidia and microsoft all four are sitting right off very important support levels, and if they punch off to the upside, we'll probably go into a few, not with big positions but probing positions as we head into the end of the year. let me just state a big fact on the nasdaq, stuart, the nasdaq advance decline line at bear market lows as i speak while a few of the megacaps are really doing the job for the nasdaq composite as well as nasdaq 100, and that has to eventually be ironed out because it's so long, seven or eight stocks will carry the weight and so far they have. stuart: some of the guests invested heavily in india through the indian etf, that was the i-n-d-a.
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i believe you've been dipping your toes in indian water took into consideration haven't you? >> i have not, but they're correct. it's strong and i'm going to give you one of the area, japan, the japan etfs like adrs like honda, hmc at new yearly highs and a couple of areas around the globe stronger than us but just remember, you're dealing with currency risk, government risk and all kinds of other risk when dealing with other countries but leave no doubt, both areas are in game right now. stuart: got it, gary kaltbaum, thank you for being with us. looks like a important day. we're waiting for a-r-m. on the right hand side of your screen. it's the people from a-r-m, arm, who are about to press the bell to get the nasdaq going. they just did it. away we go. we don't have a first price yet for a-r-m, that will be coming i presume at some point later in the day. see all the confetti. man, there's a real crowd for
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a-r-m. how about that . the market has opened and almost all the dow 30 are winners. i see just a couple of losers, that's all. can't even read them. is that apple? apple on the downside. good lord and visa. only two losers and rest are winners and dow up 194 points at this stage. where's the s&p? that's also higher to the tune of -- the same is up about a half a percentage point and the dow. the nasdaq is up about a half a percentage point. uniformity across the board. how about that? big tech, are they -- it's a uniform picture for big tech? no, it's not. microsoft is up, alphabet is up, meta is up and amazon and apple, apple 174, down again. everybody is talking about arm. we await the first trade. tell me more about the company arm. lauren: designed chips for companies like app and will nvidia and used by more than 260 technology companies making over 30 billion chips a year. their chips -- or their
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technology powers chips in 99% of every smart phone in the entire world. that's how big it is. that's why most of these big tech names want part of this ipo. they're buying into it because they're buying into arm's future as not only designing chips for smart phones but designing chips for ai. stuart: okay. lauren: the risk chinese exposure about a quarter of revenue comes from china. i'd say that's a risk. as for ipo, we're awaiting the first trade. it'll be on the nasdaq. shares priced at $51 a share. the valuation here is $54 billion, and this is a huge test for the ipo market, which has been basically asleep for 16 months. stuart: let me just make this announcement too, the ceo of arm, renee hoss, will join liz claman on the claman countdown today at 3:00 p.m. eastern today. the oil companies have got to be moving with oil hitting $90 a
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barrel earlier today. lauren: brent hit $93, the highest of the year. oil prices are near the 10-month highs on expectations of tighter supply outlook for the rest of the year. translation: things aren't getting better. saudi arabia absolutely has the upper hand here. they control production, they're pulling back, and the time of crude that they export is right near $100. they want $100 oil and, well, technically they might have it. this is affects what we pay when we fill up the gas tank when delta pays when they fly their planes and they forecast that prices they're paying for jet fuel this quarter will be 20-cents more than previously forecast. stuart: any comment, adam? >> yeah, in particular -- excuse me, because i do own delta and very cheap and under $10 club because it's trade under 10 times ear earning ands trading 7 times erosion and expensive jet fuel is not a surprise for delta but the good news for delta is their planes are running virtually at capacity and cargo
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very strong, they do third party maintenance and parts for other airlines and they get $1 billion a year from amex giving amex basically access to seats to award big spenders with free tickets. stuart: i'm not tempted. never owned an airline exempt people express and i lost my shirt 30 years ago. not thinking about it. >> you and buffet, buffet sold airline st stakes and said slapy wrist if i ever own another airline. delta is the only one i've ever owned. stuart: the hack that brought mgm resorts and investors to a screeching halt. did they pay ransom money? lauren: reportedly cesar did pay ransom, $15 million or half of what the hackers demanded. who are these hackers? bunch of kids. some of them not even old enough to gamble. their name is scattered spider and 19-22 year-olds and this
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happened earlier this summer. we'll get more information soon. cesars has to file some paperwork. but just a few days ago after this happened to cesars earlier this summer, all nine mgm properties including the bellagio, the fountain show, on the strip were hacked. no kiosks, no credit card transactions or digital room keys and was like old school vegas and no one was ready due to these kids and this hack group and cesars reportedly paid and mgm got hacked. stuart: a bit more on delta, please, it's coming up here. the stock it up, show me delta, up 2.5% last time i checked. 2 at2.25% and go back and tell e why it's up. lauren: they're revenue forecast for the current quarter was upbeat. they're expecting revenue to grow between 11-14%. their profit forecast was not
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but revenue was. stuart: okay. >> like it yet? stuart: do i like it yet. no airline for me i'm afraid. sorry about that. adam has stock picks, that we always like to hear and you'll start with -- are you crazy. starting with ford motor company. there's a strike looming you know. >> well, that's in part why i like it. it's trading at about seven times ear earning ands yields 5o looking for -- actually 5.5%. that's a pretty good way to go. what's particularly interesting, stuart, about ford is it becomes a call option on electric vehvehicles and say duh, that's obviously. hang on, electric vehicles are 30% cheaper to make and ford is making huge push towards electric vehicles. i think you could see margins go from 17-18% into the 20s. if that happens, there's embedded earnings growth that's not there now. so what appears like a cheap stock seven times could be even cheaper, five times so i like
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ford. stuart: where do you think it's going? $12 now? >> my target is 25. stuart: doubling? >> yeah. absolutely. by the way, it was trading up there a year and a after ago. it's not like this is like a pie in the sky. stuart: the crypto exchange coin base and i thought trading volume in crypto is way down. >> it is but so is coin base and trading at 350 and now 82 and got as low as 40. i think it's the last one standing. silver gate went down, silicon valley bank went down and so many casualties along the way. what people may not realize is coin base provides all the trading for every sin l one of black -- single one of blackrock's constitutional clients that trade crypto. it's the largest asset manager of the world, that's powerful. stuart: you're a brave guy. thank you, adam. don't forget to send in friday feedback and e-mail questions, comments, critiques at
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varneyviewers@fox.com. in february, vivek ramaswamy was open to banning tiktok out right and changed his mind. he joined tiktok and tell you why he flipped. the cdc is pushing the new covid booster for everyone 6 months or older. but florida's governor desantis is against it. what does dr. marc siegel say about that? the doctor is next. ♪
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set of shots. some people had nothing, other people were tired, headache, joint pain, chills, fever, swollen lymph nodes, that's a problem, ladies, if you get your mammogram. you'll have to return three months after your booster shot. myocarditis. you see the list. some people experience nothing. experts are saying just like the flu shot, a covid shot is needed every single digits year. you can get them together. one in one arm, one in the other, the same arm, whatever you want. this is the new reality, and i think a lot of people are going to say, no thank you. particularly if you got everything you're supposed to get and still got covid or got really sick from the vaccine. stuart: fortunately there's a doctor in the house and he's sitting right here. lauren: tell me everybody i said was wrong. stuart: what's your position on this, doc? stuart: i'm tired of politician
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pontificating on vaccines. i respect governor desantis greatly but doesn't have expertise in the area. we should stop vilifying the vaccine and it's gone a lot of good. the question is what do we do now? there's a new vaccine targeting the variants and data looks like it's effective against the variants, but we've seen covid for awhile and there's a lot of immune memory in the community. either you had covid recently or still have immunity from prior vaccines. i personally, and it's going to come to the doctor's office near you now, we need to have the same discussion that we've had on the show here for ten years about the flu shot. you come to me, i tell you the pluses, minuses, you decide, not me, not the government, not governor desantis, not the health secretary. you and your doctor. it's a risk benefit analysis if you're elderly, have high risks, obesity, chronic conditions, it may be a yes. stuart: let's take a hypothetical for a second, if a
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new virus came along and had a 20% death rate, you get it and one in five die. would you then accept a vaccine mandate for that killer virus? >> great question. i don't like mandates and if there was no immunity and the vaccine prevented spread, which this done a lot but did initially, i might then consider a mandate if it was life saving on that scale. but my default is against mandates. in that situation if i could really prove it was stopping spread and saving lives, i might consider that because again, we want community immunity. stuart: okay. you know, doctor, we're going back to old discussion of dementia and the discussion. >> every week. i'm back to that. stuart: priceless stuff. a new study finds that sitting for 10 hour as day or more could put you at a higher risk of dementia. okay. that's an interesting statistic. but can't you just wipe out this threat by exercising? >> of course, stuart. i want to say one nod to this, it was in the journal of
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american medical association. really well done study looking at 50,000 people in the united kingdom and had them wear a monitor over six years to see how active they were and found 440 cases of dementia developed. here's the rub, we don't know if it's due to being sedentary. like you said, maybe you're exercising afterwards. americans sit about nine hour as day. what elsewhere they doing if they were setten tear. maybe in the -- sedentary. maybe in the united kingdom, they were drinking to many scotch or whiskey. on varney, you're signature here for three hours a day, it's invigorating and antidote to dentia. stuart: get out of here. that's flattering. >> i'm with the good doctor on this. >> mental exercise increases risk of dementia. lauren: yeah, play cards, chess or so i did with my grandparents. stuart: doing this show on a daily basis and sitting for three hours, i'm bailed out by the intellectual gain.
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>> you're also burning calories. isn't that right, doctor? >> he does exercise vigorously when he's not doing this show. your fans need to know that. th. stuart: how do you know that? lauren: that's not true. stuart: that is not true. >> oh, i thought you did. stuart: i've never been in a gym in my life since i was a kid. >> how do you stay in shape, you look good? >> long walks work good. i returned from europe and walking 10 miles a day and make as huge difference. stuart: aren't you so wonderful. lauren: you eat pretty good though. stuart: i do 120,000 step as day, some days. 10,000 step as day. >> that's a lot. i walk four or five miles, that's not 10,000. >> it's all what you do in in addition. being sedentary is not good for you, generally. stuart: the discussion is over. doctor, great to see you in house. >> thank you. stuart: lauren has a great story, nearly all home cleaning products releasing toxic chemicals into the air. lauren: don't clean your house
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basically. paper toll and water. the environmental working group, that's what they're called, they tested 30 chemicals and found toxins in 29 of those products. hdx glass cleaner scored the worst, scott's liquid gold wood care, never saw that. switch wet mopping clothes, i use those, and fit organic multi-surface cleaner all culprits and and the worry is they can stay in the air and linger in the indoor air for awhile and linked to cancer or infertility. like i said, we have a lot to worry about. don't want a dirty home, the message here is clean it with something. stuart: does the stock market watcher like adam johnson have anything to say about the toxicity of household cleaners? >> i was looking at 3m the other day and had the problems with the ear plugs where it doesn't provide service members with proper insulation and it's really hard, these companies, think of johnson and johnson with the talcum powder damaging
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and these are strong chemicals and they're tough. >> that's what you have to have to clean the germs. >> most growth is 2-3% a year as growth investor, that's not enough for me. to answer your question, no, i don't own any of those names. but they're strong chemicals. it is what it is. stuart: okay, it is what it is. that's how you end the conversation. well done. thanks, adam. lauren and adam, thank you very much. coming up, the census department took down bidenomics and politics may spin but the hard numbers don't lie. bidenomics is making us poorer. that's my take, top of the hour. the white house will send dozens of federal staffers to new york city. they're going to help the migrants apply for work permits. we're going to take you to the city's largest release center right after this. ♪
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municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential
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blame game over the migrant crisis. madison alworth with us. what's the biden administration doing now, madison? reporter: hi, stuart. they're doing two things. first a senior white house official coming to new york to meet with business leaders and elected officials to discuss the handling of migrant crisis in the city and expedited work visas and we learn 50 federal officials from the biden administration arriving in new york city this week to work directly with migrants on how to apply for asylum and ultimately get the work permits because the concern is that there are potentially tens of thousands of asylum seekers that passed through new york city since last spring el i didn't believe to work but -- eligible to work but aren't. those officials are handing outflies with links to moment authorization document so they can apply to work that . whole process still takes 330 days. but here's the thing, stuart, it seeps migrants are already
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working even if they're not legally permitted to. so every shelter we've been to in new york city has dozens of bikes and scooters parked outside. many of them with food bags on the back used by delivery drivers. we've reached out to grub hub, uber eats and door dash and got a statement from uber eats saying "uber supports access to work. we have processes in place to help prevent and take action on fraudulent behavior on uber's platform and will take additional steps if warranted". now, stuart, it seems those additional steps might be warranted because we've been spending the morning talk here to migrants and one thing we've learned about the bikes, what we're hearing from migrants on the ground is that they get them from people who legally live here, they'll rent the bike from that person and use that person's app. you might be on this bike but using someone else's name. that is a work around for ways for these people to -- you look at these bikes, people that are living here are getting sheltered, food, education, healthcare but not money and yet
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they somehow have access to these mobile scooters that are not cheap. what we're learning from those on the ground they get it from someone else, they use that person's app, and then they're able to go out and do deliveries and make money. it seems that migrants are working just not legally. the whole thing is a bit of a mess. white house saying new york city not doing a good job making an exit strategy for the migrants and we could be dealing with a federal problem. stuart. stuart: madison, great report. thank you indeed. good st. i want to thank adam for being with us for the entire hour. >> that you can't, stuart. stuart: thank you indeed. all good stuff. coming up, guy benson, mike gallagher, will cane, clay travis. the 10:00 hour is next. ♪
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