♪ ♪ about what i want ♪ that's what i want

♪ stuart: i prefer the beatles version myself but that's just me. 10:00 eastern. better get to the money, the dow is up 244 points. solid gain for the s&p, nasdaq lagging a bit, up just one third of one person. of one%. watch oil carefully because this could be energy price inflation writ large down the road. we have the price of oil $89.96. the tenure treasury yield has been going up and it is up a bit today, just above 4 and a quarter of one%, bitcoin very low trading volume so it seems, hardly moves, bitcoin is now 26,620, that's the markets the census department just took down bidenomics. economists may rent, politicians may spend but hard numbers do not lie.

bidenomics is making us poor. inflation is the cause and inflation is the result of money printing by the fed and the massive spending which is bidenomics not to mention the ending of our energy independence, in 2022, inflation-adjusted income for men drop 3620, for women it dropped $2,880. every income group lost ground, the poor lost more than the wealthy. that's always the case when inflation hits, look at middle america, the upwardly mobile strivers who make $94,250 a year, that group lost $4,600 in 2,020 do. if elections are fought and lost on the economy, the biden hair stick it is not looking good especially when republicans will endlessly bring's stellar economy so now what? bidenomics part 2, the green new deal, more spending, gigantic deficits, massive

subsidies will possibly a rebound for inflation. not a pretty picture but then bidenomics never was. second hour of varney just getting started. guy benson with me this morning. with bidenomics not doing very well to put it mildly and constant questions about his agent acuity, can the biden hair stick it win. what do you think? >> i think they can though i feel less confident about that today than even a few months ago because the voters will ultimately probably decide the election on the economy. if there weren't some drama and baggage on the other side of the aisle this would be a cleaner victory for the republicans, but people often vote on how they are feeling, for their family, their income,

their pocketbook issues and people are just worse off and the white house keeps telling us bidenomics is working, that's their talking point, they are sticking with it and people know they are poor, they feel poor because they are. we saw inflation numbers from last month, people are very dissatisfied with the performance of this president on the most important issue in the country, both broadly speaking writ large and to individual voters and families they have failed and if their message continues to be you're welcome, america, suck it up, try to figure out that we have helped you even though it doesn't feel that way i'm not sure that's going to win a lot of people over. stuart: cnn tried to fact check speaker mccarthy's claim the biden family and their associates got $20 million through shell companies. the response, quote, this is true about joe biden's family and associates but there's no

public evidence to date that the president personally received any money. is that the defense? you cannot show that biden received money directly, then he is innocent? is that how it is? >> they haven't found that evidence yet. that's the point of the inquiry we are seeing and that's the thrust of what mccarthy said. yesterday morning the white house puts out a memo to their friends in the media saying please attack republicans over the impeachment inquiry and immediately before the memo went out the press was on it, they hopped to it, saluted and cnn's best effort, i encourage people to go and read this fact check. one point after another when examining what mccarthy said, they say that is true, but, and that is not a fact check, that is adding context but mccarthy

made specific, careful claims and statements in his comments the other day for a reason. there are some things we don't know, that we don't know yet. they believe this evidence exists, they are trying to get to it, trying to break through the stonewalling. that's the goal here, seems to me. to fact check mccarthy on what seems in my mind to be hypothetical future claims republicans might make once they get out of balance is not fact checking, that's playing defense and do damage control, because it's not a very effective negative fact check when you say that is right but this other thing over her. fascinating. stuart: thank you for joining us. see you again soon. house oversight committee chair james comeer was questioned about why he's not subpoenaed hunter biden. >> there legal complexities going after presidential family

member so he has not yet issued a subpoena but doesn't mean he's not. 's committee has been relying on voluntary cooperation from witnesses but with the impeachment inquiry they are trying to get more information, more evidence and may be more will come. of the one they want the direct link between the money paid at the money paid to president biden. back to the markets ways, we still have a rally, not as strong as it was by the dow is up one hundred 75, nasdaq up 25, dr barton with me now, big story of the day on wall street is arm, arm. i will ask you the same question i asked others. 's arm the next nvidia? >> we don't have to answer that question. nvidia already answered it for us. adam touched on that earlier in the show. nvidia already wanted to acquire arm and they could not do it because of antitrust issues.

i think it's a really good long-term purchase but i don't like it right here. stuart: it will go all over the place when first issued. literally, we don't have the first opening price yet, don't expect it for some time but we are going to give it to you when you get it. how about adobe. you are telling me adobe is nai player. is that why you like it? >> it is, and they have been really moving up, going in the 320s to over the high price of all time and here is why they are going to keep going, there ai players especially for creative folks is going to be one that is scalable. there were lots of people that use really fast to really good affect. i think any pullback is to be brought on adobe, they announced earnings after the close today. stuart: you like amazon i think. it has been doing very well

recently. i remember when it was named as part of an antitrust probe, didn't go down budget pause for a while, now seems to be going back up again. you still in it? >> i'm still in it. i would love some more. it is poking up against the support level. i would like to see it breakthrough that. that would help me get in more but we talked about it last week and i said along with microsoft, because of those reasons, antitrust probe coming and stock doesn't go down. that's a big sign. the case is very weak against amazon and they have more upside. stuart: thank you very much, see you again soon. lauren is back here sitting next to me with the movers. show me fedex first of all. lauren: bank of america raising their price objective to $309,

fedex is currently trading 254. and laying off a small number of their employees in finance and it departments. going back to etsy, they are up today. lauren: the price target 100. it would be a nice upside. the frenzy, many paths to outperform the next year to year and a half and the stock is coming off of a 7-day losing streak and 3 year low. nice game today. stuart: i see two cruz lines, carnival and norwegian. lauren: couldn't ignore the with 3.5% gains. atlantic upgraded shares that these pandemic woes have come to a end despite high rates, high inflation, recession fears, people are still booking their cabins. alaska was the top cruz over the summer. stuart: okay.

protesters blocking entrance to the citibank building in new york city. lauren: two employees told fox they can't get into work because the entrance is blocked and they can't get out so they are stuck. several groups of climate protesters are merging together, ratcheted up their tactics recently, shut down yesterday traffic outside black rock, stopped the us open for 50 minutes the other day. these groups don't want banks to finance fossil fuel projects. climate defiance, one of the groups, said, this was one hour ago, the world's second-largest financier of fossil fuels, how do these people sleep at night. stuart: if you were city employee and you barged through the barricade right there. they would sue you. that's assault. you touch them and it is an

assault, you're the guilty party, not them. you. >> people who are going to work on hybrids are going to say i will work from home today. stuart: next case, ron desantis support sending the military to the southern border. florida congressman carlos jimenez is a trump guy. i will ask what he thinks about desantis's border proposal in the next hour. china unveiled a blueprint, sending warships around the island. will china invade taiwan? congressman mike gallagher is chair of the house select committee and will do with the. and exiled irani and prince slammed the administration over at $6 billion deals get prisoners back from turnaround. john kirby says the deal was not ransom because no taxpayer dollars were used. edward lawrence, the full story next from the white house.

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stuart: on the markets the dow is still up nicely 140 points higher. a small gain for the nasdaq in the s&p 500. now this. and exiled irani and prince ripping the biden administration over $6 billion deal to get prisoners back from iran. edward lawrence has the story. does the prince have any insight on how iran will use the $6 billion cash. >> reporter: he sure does, this was an exclusive interview by maria bartiromo. listen to this. >> last time we saw what happened to the money that was released to the iranian regime

under the obama administration. certainly it did not end up serving the interests of the iranian people. it went to further finance the regime's proxies in syria and lebanon and i don't think this will be any different. >> reporter: the it ministration pitching this deal to get 5 americans freed not as a ransom but just returning the money that already belongs to to iran. john kirby brushed over the fact that this was not just money for american hostages as jackie hynek pointed out. >> jackie said that iran is not going to do this for nothing. they get 5 iranians? >> they will get 5 irani in this as well. >> why $6 billion on top of that? >> this is the deal we were able to strike to secure the release of 5 americans. >> what but by jackie, there were many questions asking if

this was a lopsided deal and if the position of the government change, that the us now would negotiate with terrorists to get hostages, the official line is this negotiation was with the country of iran and the official position of not negotiating with terrorists still stands. stuart: john kirby says this deal was not ransom. role our tape. >> i also want to be clear, this is not payment of any kind, not ransom, not us taxpayer dollars. we haven't lifted a single one of our sanctions on iran. iran will be getting no sanctions relief. it will continue to counter the iran regime when trying to bring americans home, but often aren't dealing with a level playing field. stuart: that announcement was made on 9/11. congressman mike gallagher from wisconsin joined me now. what do you say to that, it's not ransom if no taxpayer

dollars were involved? >> to paraphrase president biden, it's a bunch of malarkey. when you give people money in return for hostages there is no other word to describe it other than a ransom payment. yet again another lie from the biden administration. it brings to mind the lies surrounding the afghanistan withdrawal which we were reminded of on 9/11 as well. for the administration to go out and say this undermines our position in the world, undermines our traditional alliance structure in the middle east and more to the point the other lie they are telling is this money could only be used for humanitarian purposes by the iranian regime. that's news to the ear training regime who claimed they will use it for whatever purposes they want. we need more clarity from the biden administration. if we want stability in the middle east we need to support the traditional alliance structure starting with israel, extending to the sunni arab gulf states are increasingly

unite in opposition to iran. facilitating iran's sponsor of terrorism is the exact opposite of what we need to be doing in at least. stuart: secretary of the air force says china is preparing for war with the united states. do you think china is preparing to invade taiwan? >> yes i do. i think this is xi jinping's legacy issue. he repeatedly told us he intends to take taiwan by force if necessary and yet the president had the g 20 went out and said because china is facing economic problems it is less likely they will make a move on taiwan. i don't see that at all. it is equally plausible that xi jinping could get more aggressive as he confronts for domestic, economic, demographic turmoil and that is what we need to prepare for urgently. the select committee just held a wargame with a bunch of high-level financial executives in order to tease out the economic and financial implications of the chinese

invasion of taiwan and they are severe. we need to be moving heaven and earth to put power in paging's path before its too late and the lack of clarity from the president himself undermines that effort. stuart: what you want to do is deter china from touching taiwan. how do you do that? >> it starts with american heart power, the most important component of our deterrent strategy particularly harpoon missiles with the taiwanese purchase but not slated to arrive until 27 or 29, that's too late, we need to expedite the delivery of key antiship missiles and turbocharge the production of key weapon systems like the long-range antiship missile. we need to be filling stockpiles and pre-positioning them in the indo pacific before it's too late. there are economic and financial component of our strategy. we should stop allowing american investors to fund chinese literary companies that are building aircraft carriers, artillery shells and other

things designed to kill americans in a future conflict. in my opinion it all starts with hard power. that the only way which dictatorial totalitarian regimes like china understand. we want are we prepared to spend more money on the military, raise the military budget? at this point i would say no, we are not. >> right now the military is at risk of another sequester which a decade ago was devastating to the military with we don't get our fiscal house in order. i would say for the asymmetric weapons we need in the pacific even for my colleagues who are more skeptical of more military spending, relative to the big systems like big ships or big aircraft these are relatively inexpensive. if we stockpile missiles and long-range fires that can sink chinese ships we are talking as long as predict ability, investment, $10 billion a year over the course of the 5-year defense plan we could have a massive impact. that in and of itself is not

enough but it could massively enhance near-term deterrent if we spend that money smartly. blue one progress on mike gallagher, thanks for being with us, see you again soon. more school districts across the country are adopting equitable greeting. some parents and teachers say the system fails to prepare children for the real world. some schools in new jersey are fighting for the right to tell parents their children want to change their gender identity, they want to repeal the state's current band. we will speak to the new jersey republican chair sussex county, his party just launched a billboard campaign to end governor murphy's sex ed mandates. he joins me next. ♪ ♪

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red, stock is down one. 6% because netflix says these strikes are hurting their business. their cfo spencer newman was at a bank of america conference and says it is time to get back to work, the writers have been out since may 2nd, the actors since july 14th, netflix says these strikes, bad for their business. stuart: hewlett-packard. >> down 3%, shares at a 6-month low. the reason is berkshire hathaway sold 5.5 million shares for $158 million in stock, he built up last year, it was 12% and now it's down 11%. stuart: what's with the dating services. match.com is up today. >> 4.7%. jpmorgan says investors are entirely too pessimistic about dating stocks and they think match stock is going to $60 a share. they own to endure, hinge, cupid, eventbrite.

stuart: what is swiping right? >> it means you connect in some way. it's a good thing. i've never done it. stuart: i thought i was talking to somebody who had done it. let's change the subject. equitable grading is on the rise in schools where teachers are not allowed to give 0s. which groups are behind this equitable grading? lauren: there's a group of consultants behind this push to adopt equitable grading, they are essentially selling the idea and their training services to school districts across the country. data shared exclusively with fox business shows crescendo has been paid at least 2. $2 million by local governments and public schools across the country since 2018, they tracked spending of tens of thousands of government agencies, they want to show how

tax dollars are spent and they say $2.2 million big for years likely much higher. consultants sell workshops to educators on a book about equitable grading by joe feldman, because for one person to attend a workshop, $400, other services much higher, arlington, virginia, paid crescendo $65,000 a year while albuquerque, new mexico reportedly approved a $687,000 contract, they approved that just last year. in a statement to fox business the ceo for crescendo education group says equitable grading is about ensuring grades accurately describe student's knowledge of material without consideration of factors like extra credit, punctuality, attendance, handing in assignments on time, their performance on homework practice and class participation. here's a concerned parent i spoke with, listen to him.

>> the problem with these new educational programs or whatever is the educational flavor of the day is when they don't work, the kids most affected are the most underprivileged kids. >> reporter: got one week from today fox business has an exciting town hall on the topic of education and i hope you will tune in and watch. it will be a big topic at the d debate. stuart: okay, thanks very much indeed. chris christie joined us last hour, he says parents have the right to know if their children decide to transition. all that tape. >> nobody cares about children more, loves them more and can help them more than their own parents. to exclude their parents from knowing when children are expressing those concerns to employees at the school system is dead wrong. parents have to be placed at the front of the line. stuart: the republican chair in

sussex county joins me now. you agree with chris christie, parents have the right to know if their child asks to change gender. democrat governor phil murphy opposes that. what are you doing in your county? >> we are putting out messages to working classes and people too busy working and raising their families to know what's going on so they are using artistry the state has no right under 14th amendment protections of life and liberty, to prevent a parent from knowing what's going on with her children. stuart: you are talking about billboards i take it? >> yes, billboards, graphics, social media campaigns. stuart: i understand you might have to switch vendors for your billboards, are democrats trying intimidate people who work with you? >> yes. we've had a democrat come out and threatened boycotts on businesses in tune with retaliation that has been some dramatic of this regime.

stuart: what have you heard from governor murphy? >> nothing i know of as of now. that's okay. i'm concerned with governor murphy, the people of new jersey, to keep their children safe. we when you are looking for a groundswell of support in your area which will carry to the school board to get things changed, that's what you are looking for? >> yes, it has been outstanding, the level of support has been strong from all levels, not just in the republican party but regular citizens. the monmouth poll in august, 70% of new jersey in this ink this is an abomination. blue when you think you can get the governor to reverse policy? >> no. he once said the constitution is above my pay grade. i have no optimism of this governor, no optimism with this regime or the extremists that are here. we can awaken the people and elect a good governor,

republican governor next term and change this course of action. stuart: thank you for joining us, we wish you well, thanks very much. senator rubio is fighting against radical gender ideology, his words in healthcare. what does rubio want? >> he has introduced a bill that says if a hospital gets federal funding they cannot force their employees to participate in lgbt q trainings and ideology. they would not have to use a patient's preferred pronouns if they didn't want to. they cannot fire an employee based on that person's religious beliefs. the problem is the lgbt q lobbyists are coordinating with hospitals, 2200 hospital systems coordinated with these groups, that's not okay with senator rubio. he says he does not want, quote, radical gender ideology in our healthcare system. stuart: got it, thanks, now this. the treasury recorded a budget surplus for the month of august. come on in, ashley webster and tell us what's behind this.

ashley: surplus, washington? what? student loans at 80 one. $2 billion surplus, yes, surplus. don't be fooled into thinking washington is reducing spending, the surplus is the result of a supreme court ruling in july of that shot down biden administration's $319 billion student loan forgiveness plan so that money was recredited to the treasury and hence the surplus but for the first 11 months of the fiscal year the budget deficit was $1.52 trillion, up 60% from the same period last year. one reason is higher interest rates, debt payments, paying out more in interest than it receives on bond holdings, a nice big one hundred $5 billion hole in treasury revenue. don't be fooled by the term surplus. stuart: thanks.

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stuart: the dow is moving up, one hundred 85 points now. just over half of 1%. the first trade from arm, the

indication is it will open around $58 a share, it was offered at 50 one, confirmation of that. a couple louisiana terrorized by a squatter who repeated the broken to the home, trashed it, then the squatter tried to sell the home. is that right? ashley: absolutely right. what a story this is. ongoing nightmare for louisiana couple richard and kristin craven who inherited home and plans to renovate it and put it on the market. before that could happen squatters moved in, one of them, joseph karen changed the locks, put the utilities in his name, even tried to sell the home before he was arrested but that wasn't the end of the story. once he was released from custody this week he returned to the property and put a for sale sign up in the yard. they say the police told them they would be arrested if they

tried to get back into the home. the couple says the home has been trashed saying their furniture, appliances, walls were all being painted along with holes in the walls, empty liquor bottles scattered on the floor. absolute nightmare, the lot never seems to help those that are abiding by the law. in the 70s growing up in the uk i was always taught, drilled into my head always lock the door because of the fear of squatters. stuart: thanks very much indeed, see you later. baby boomers sliding into homelessness rising, gerri willis has the story. what's the main problem? gerri: the rising cost of housing. we are seeing huge numbers here, one in 5 americans 55 or older, 20% of boomers, the trend goes beyond the rising boomer numbers, given their population bulge.

researchers say roughly half the homes are people who have been homeless before and they had addiction issues, the other half were folks who worked all their lives, had expensive medical problems or lost or spouse. another big reason, the rising cost of housing, on average rent is $200 more than the average social security payment but in some communities with high proportions of elderly residents it can be more. in collier county, florida, that's naples, the average social security payment is 1790 one dollars a month compared to rent of 2833. can't make it on social security. we spoke to one group in florida. all 11 afford will housing projects for seniors are full and each has 500 people on their waiting lists amounting to a 10 year weight. she says many of them simply can't believe they can't afford their home anymore and they don't know what to do. listen.

>> never asked for help before. they are still in shock that they have the use critical needs and they don't know where to start. they need an advocate. >> reporter: problems going on all over the country and not just in high-priced blue states. the person of folks, homeless seniors, 1.6% between 2018-2022 but in miami, denver, small by comparison, bellingham, washington, they had much bigger increases. experts say the quickest way to solve this is cutting bureaucratic red tape. in florida it could take years to get approval to build unaffordable building project. stuart: almost all over the country, california, florida, new york, takes years to do it. >> in the meantime these folks are up. stuart: nancy pelosi refused to say whether she thought kamala

harris is the best running mate for president biden. role tape. >> is kamala harris the best running mate for this president? stuart: she thinks i that's what matters. >> do you think she is the best running mate? >> is the vice president of the united states. we want that wasn't a very strong endorsement, was it? coming up, will cane on the presidency overwhelmed, that's coming up. one hundred 50,000 united auto workers union members could walk off the job if they don't get a deal with the big 3 automakers by midnight. grady trimble is in detroit and has the latest on labor problems there. we will be back. ♪

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stuart: the big 3 detroit automakers have until 11:fifty nine p.m. eastern time tonight to agree to deal with the union and avert a strike. grady from. and detroit force. the clock is ticking. any progress? >> reporter: a strike is looking more and more likely as the hours tick by. here's where things stand right now. the united auto workers union

says the offers from the detroit automakers are, quote, completely unacceptable which the uaw has some pretty steep demands including a 40% bump in pay over the four years of the contract in addition to cost-of-living adjustments. a 32 hour workweek and other changes to health insurance and pension benefits. without a deal, 11:59 eastern tonight, the uaw says it is ready to strike, but only at certain auto clubs. >> we will strike all 3 companies, historic first. initially had a limited number of targeted locations we will be announcing. then, based on what is happening in bargaining, we are going to announce more locals called to stand up and strike. >> reporter: ford, general motors and the jeep and

chrysler's parent company have been negotiating in good faith. some say the uaw is ghosting them but not making counteroffers, jim farley says when he went to the bargaining table earlier this week, the uaw president was a no-show and he went on to say if there's a strike it is not because ford didn't make a great offer. we should work creatively to solve hard problems rather than planning strikes and pr events. unless there's an agreement at some point today the uaw will tonight announced the plans where workers will work out. it is unclear which ones those will be as of right now. it's looking inevitable there will be a strike at least one of the detroit 3 automakers by tonight. stuart: almost inevitable. interesting words. thank you. mark marano, the publisher of climatedepot.com. a big part of the strike is

about the switch to electric vehicles and how to compensate the people building the. how is the switch to electric going? >> it's going disastrously. first of all on this strike, pending strike, you have a million workers making nonelectric cars, with these electric car mandates you are talking 40%, 400,000 workers being displaced, also 7.5 million jobs related to the auto industry are going to be impacted. president biden's 80 v mandates are controlled demolition of the us auto industry, there's no other way to put it because china is the main beneficiary of potential chinese invasion of cars coming as they master it, the transition is going horribly but i think that's not the actual purpose of the biden plan, the plan is to create vehicle rationing to force less people to drive, force us into mass transit and restrict our freedom of movement, that is coming out of this. stuart: that is politically out

of the question. any administration which imposes rationing on cars, limiting your ability to drive in the united states is political suicide. >> it is but that is why it is in 2035, several years away but here is lucky. has congress voted on on a car band? know. has the california legislature voted? no. this is all being done bypassing democracy, in many ways the same way covid restrictions, we didn't vote for church closures, school closures, didn't vote for food restrictions, didn't vote for gas powered car ban. this is a corporate government collusion, mostly from ideology from the united nations world economic forum and they are forcing this upon us. it is not affecting us immediately but it is down the road. are we going to allow it. it looks like the mandate will collapse when people realize it's going to create rationing, this is similar to east

germany, one government authorized car, the east german, fast forward in the united states, government saying you can only purchase one car in the future, ev likely manufactured in china. this is our future if we allow it. stuart: i think we know where you are coming from. thanks for being here. a new climate bill making its way to the california governor's desk. what is in this one? ashley: the bill requires public and private companies to operate in california and earn more than $1 billion a year to report their carbon footprints. it has been supported by several big companies including apple, ikea, and microsoft but not the chamber of commerce which causes onerous and they say increase costs on california businesses, the legislation goes to california

governor gavin newsom whose office said he has to decide by october 14th whether to sign it and get ahead of the federal government in the setting climate rules, the sec has not finalized its rules on disclosure but analysts say this legislation will end up in court and be challenged. stuart: guaranteed it ends up in court, never keep the lawyers out of it. still ahead, florida congressman carlos jimenez on how we should deal with the migrant crisis. will cane on biden ignoring questions about his impeachment angry, quiet have us on cornerback aaron rodgers breaking his silence after suffering a season-ending injury. the 11:00 hour is next. ♪

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>> i personally don't think that joe biden is going to let go of this thing he's been pursuing his whole career so easily. if he does, he'll do so at a choice with they have no choice but to run with kamala harris. >> the white house is telling us bidenomics is working and people are dissatisfied with th