tv Kudlow FOX Business October 13, 2023 4:00pm-5:00pm EDT
4:00 pm
liz: less than 30 seconds and concern that the ground offensive may be launched from israel into gaza as israel looks to rescue the 150 or so hostages that hamas has under tunnels and how may that affect the markets? we know oil is spiking 5.7% in the after market. >> geopolitics is a concern for the markets and they hate uncertainty in the middle east and impact on all price that we're seeing and this is something to watch and it's another arrow in the quiver for the bears right now. there's a loft things to be bearish about and concerned about. liz: david, very, very good to have you. thank you very much. david spiko of guidestone. the dow looking to eke out 35 points and the others in a the red. monday, blackrock's larry fink. see you then. kudlow is next. larry: hello, folks, welcome to
4:01 pm
kudlow. i'm larry kudlow. day seven of the barbaric war on israel is now them going into gaza. greg palkot is on the ground with the very latest. greg, what can you tell us? reporter: hey, larry, that's pretty significant news. in the past couple hours here in the town of ashdod, about 20 miles north ovgaza, hamas rockets have been raining down on the city and luckily the israeli iron dome defense next to our position has been knocking them down. appears no damage. for the past 24 hours we've seen the strongest set of air strikes by the ziti really air force by hamas militant targets inside gaza. 750 in the last 24 hours and, yes, as you note maybe the biggest story of the night, israeli defense forces saying small units, commando units have been going in on the ground into gaza and clashing with hamas militants going in and most significantly they've been
4:02 pm
looking for any traces of the hostages there or of any dead bodies brought from the carnage in southern israel back into gaza. that's something to keep a watch on, larry. very strange warning from israel to the people of gaza strip and leave for the northern half of the strip. 1.1 million people told to get out by 24 hours or more. hamas says no and un says difficult and it's a sign of something brewing and in fact that's what we saw on the streets of gaza today. a lot of people heading out of that northern area and what we've also been seeing is a huge buildup of troops and armor and tens of thousands of folks we've been seeing artillery blasting from southern israel into gaza so a lot of different signs something could be building here and it could be dangerous on
4:03 pm
other parts of the region as well. 14 palestinians killed in clashes in the west bank and more deaths and clashes between hezbollah and israel on the northern side of the country. just remember the grim death toll, 1300 now believed dead inside israel including americans, those 150 hostages including americans inside gaza strip and a lot of damage being done and not just hamas but civilians caught in the cross fires like 1800 palestinians killed. one last note, secretary of defense austin here today too offering his support and looks like it's all hands on deck in a lot of different ways here. back to you. larry: greg palkot, thank you so much and please be safe. folks, camera on hamilton and former navy seal that helped train idf members in israel later on on the show and in just a moment, distinguished former treasury secretary steven mnuchin talking about broken
4:04 pm
iranian sanctions and what can and should should be down about it and his take on u.s. economy but first up, a quick week in review riff from me. i mean quick. of course the big story is the barbaric hamas attack on israel and beheading children, murdering grannies in bed and taking israeli and american hostages. at last count, killing 1799 palestinians, 130 israelis, 27 americans -- 1300 israelis and 27 americans. still 14 americans unaccounted for. president biden gave a speech calling the attack evil and pledging to stand with israel. he made no mention of iran. speaking of iran, wall street journal editorial today referred to iran as the ventriloquist for hamas, spot on there. we have learned that after the afghanistan pullout catastrophe by the biden administration, hamas started a two year planning process to attack gaza.
4:05 pm
none of this could be have been done without financing and planning capabilities of iran. then treasury secretary janet yellen came out and claimed there's been no relaxation of the iranian sanctions mandated by u.s. congressional law. but she had no explanation for the facts that iranian oil revenues have jumped from almost nothing three years ago to somewheres north of $60 billion today. oil exports sales to china then creates roughly 7 billion to over 30 billion in two years. and iranian foreign exchange re-verve somehow skyrocketed from how farly 4 billion to something like $70 billion. so we're still waiting for further explanations from madame secretary. meanwhile the israeli air force began its countser attack against hamas with -- counter attack against hamas with special spotters on the ground and israeli defense forces began infiltrating gaza to scope out
4:06 pm
hostages and outline their strategy and as of this reporting, idf ground forces have begun the campaign in gaza city with perhaps as much as 300,000 troops or even more. more to complete the mission. what's the mission here? well, please take a listen to the brilliant general jack keen on this show last night. had >> larra i, we got to be up front about what needs to be done here. we need to kill them. that's the only thing that stops these guys. they are absolutely committed to this barbarism. we got to go in and kill them. just like we did with isis, just like we did with the al-qaida. larry: so, general keen, a great war yore himself, spot on right in my -- warrior himself, spot on in my view and i don't know why i'm watching so many hosts and guests on television with continued hand ringing that casualties will be suffered. this is war.
4:07 pm
israel didn't start this war, they didn't want this war. iran backed hamas started this war. they wanted to wipe israel off the face of the map. they also want to wipe america off the face of the map. so israel, the only democracy in the region, america's greatest ally, israel and america have to fight back to defend their freedom and their very existence. that is war. of course our nation's elite universities don't understand any of this and call omeletting out in favor of mamas -- they're all coming out in favor of hamas, which is a strong dose of anti-semitism and this has been brewing for three decades from the battles of the insane far left. there's some exceptions fortunately, but most of the university presidents refuse to stand up and fight against anti-semitism and fight in favor of freedom and democracy. i frankly think it's pathetic. fortunately some business people
4:08 pm
have finally come out and even some students later in the week have revolted against the crazies. meanwhile, all my friends in the house republican conference have not distinguished themselves this week. they can't settle on a new speaker. steve scalise won a vote but couldn't sustain it. jim jordan another distinguished conservative can't seem to put it together. kevin mccarthy doesn't want to go through it again. new names are appearing and conference is meeting arnold the clock. seems to be spending most of its time getting in touch with its feelings rather than voting for a new speaker. personally i love 12 step meetings but the gop needs a speaker asap. on more mundane matters, two important inflation reports came in stronger than expected guaranteeing that high interest rates are going to stay high or move higher in the period ahead. meanwhile consumer confidence fell and consumer expectation
4:09 pm
rates cl closed and 0-year treay ted -- 10-year treasury heading towards 5 and stocks survived and no oil blowup in the middle east. we'll talk about that later in the show with mr. wonderful, kevin o'leary. threats to freedom and democracy everywhere. at home and abroad. but i still don't believe america is in decline. i think the washington dc swamp is in decline. and i think we can and will save america. that is my weekly review. what am i saying? news of the week in review. that's my riff tonight. speaking of save america, my good friend and distinguished former treasury secretary steven mnuchin is here on life, liberty and the pursuit of happiness. what are you thinking, steven? >> i think it's great to be with
4:10 pm
you. need less to say this is a terrible situation with israel having been attacked by hamas and the number one priority is for israel to defend itself. i couldn't be happier to see the u.s. support israel in the entire government focus on that. i think as you mentioned in your opening, a big issue here is the oil sales to iran. i think as you know we had a maximum pressure campaign against iran. there were not these types of oil sales when president trump was in office and we were managing this. and that's not coincidental. we made it very clear to china and the rest of the world that we were going to enforce the sanctions both primary sanctions and secondary sanctions. larry: you know, steven, let me read you something, a very good op ed from mitch mcconnell, senator mcconnell. i'm going to read it quickly, "the west should re-impose extensive multilateral sanctions
4:11 pm
on teheran and deny iranian planes oversight rights and pound the shipping vessels iran uses to circumvent sanctions, close iranian bank withs access to the best, and cease the iranian operations of european businesses, treat iranian officials like praias and sink iranian naval boats that threaten international shipping". that's tough stuff but congress, as you know, you were in charge of putting together sanctions for trump administration. congressman dated this stuff and current administration says it hasn't eased the sanctions. i don't buy that. i don't know why we can't imposes them -- re-impose them because behind this hamas catastrophe is iran. >> well, larry, there's no question and the hamas situation is the problem of today, but as you know the thought of iran getting nuclear weapons is also
4:12 pm
a very big problem, and that's another reason why we need to have these sanctions in place. both the existing sanctions need to be enforced but new sanctions need to be put on them. you know, the dollar is the reserve currency of the world. we do have power in these sanctions as i've said before. we need to be very careful how we use them, but clearly this is a situation where we're very justifiable in using the sanctions and cutting off the flow of dollars to iran. that should be the number one priority at the moment for the treasury. larry: and, steven, can we keep them out of the dollar system and talking about secondary sanctions and stop banks and american banks can't do business and we want international banks, foreign banks, european banks and chinese banks for that heart. can we keep them out of the dollar system? really put the heat on? >> larry, you saw us do that. we were very effective and
4:13 pm
there's a reason why there wasn't oil sales of this magnitude at the time. we were very clear in managing the sanctions programs and whether it was with china or whether it was with other countries being very clear how we would enforce them. i believe that the u.s. government can act and can stop a significant amount of these oil sales and revenue flowing to them. i think that's got to be a major part of the plan while israel defends itself. larry: iran escaped the probation of the administration and i think that's a big mistake. it sounds like you do too. is there anything specific, secretary mnuchin, you'd like to see done on this front? >> i was pleased to see some reporting on the $6 billion and appears that the position is being reversed at least according to some of the reporting that that money is frozen.
4:14 pm
that would be a good start. i think going after the oil revenues is definitely a priority and the bigger issue. larry: yeah, okay. great stuff. couldn't agree more. thank you for that. turn or sights on the american economy for just a moment. what's your take? are we getting stronger, weaker, inflation looks to me very sticky. what is secretary mnuchin see? >> there's no question. inflation has been harder for the fed to control than they thought. i said at the time, it was a result of very large fiscal spending that continued after we left office. you know, in the post covid area. there's no question that's a big component of this. i mean, i think, you know, it's beginning to get under control and having said that, i think it's going to be very sticky and it's going to take into next year. i think the fed is close to done. there's no question the fact that long term interest rates
4:15 pm
have risen significantly. also will help the fed's job. that's going to slow down the u.s. economy. my own view is that long term treasuries have a bit more to go. there's a lot of supply coming in treasuries and financing these deficits, which are likely to get bigger with special funding for israel and ukraine. so i think they'll be continued pressure on the long end of the curve. larry: yeah, i mean, the treasury is selling a lot of bonds. but the fed is not buying them at the rate that they used to. in fact, the fed is shrinking their balance sheet. so that almost guarantees higher rates or do you think they peakeded? >> guarantees slightly higher rates and shrinking the balance sheets and another way of managing monetary policy and that's going to force the private markets to take up a bigger share of the issuance.
4:16 pm
there's going to be risk pressure against equities as the u.s. economy slows down and the big unknown is what happens to oil prices if the situation in the middle east continues to escalate. larry: let me go back to that last point, it's a important point. you spent a lot of time in the middle east when you were in the government. the saudis were apparently closed with some kind of normalization i'll call it with israel before this. -nothing like the era oil embargo from the 1970s. from your experience and perhaps on going contacts, will they
4:17 pm
stay neutral, the saudis, skyrocketing oil or not? how does it play out? >> i'm going to say i think there's a lot of our partners in the mideast trying to be helpful in this situation. obviously the major focus right now is for israel to defend itself. i think there is capacity to bring more capacity online even if iran cuts their capacity through sanctions. i think the other issue, larry, that you know is we need to increase domestic production. we have plenty of capacity here, we have both capacity for oil, we have capacity for natural gas. there's a time for climate change and to be worried about that, but right now these are national security issues and we should make sure that the u.s. has plenty of energy to supply ourselves and supply our allies. as you know, we were working on selling l&g to europe and can be very cost effective at these types of prices.
4:18 pm
larry: you know, if we were producing 14, 15 million barrels a day, which is what the energy department trend line said a couple of years ago, we could have made this entirely different and more hospitable situation in the middle east and the rest of the world and russia and you crane. you hit the nail on the head and inflation rate would be lower and petroleum price enters throughout the economy. it's the greatest mistake. >> larry, as you know, energy security is national security and oil prices at all time lows, you and i trying to get money to fill up the strategic reserve. larry: i do remember. all right, former treasury secretary and good friend steve mnuchin. thank you ever so much. appreciate it, sir. >> thank you. larry: take care. all right, folks, coming up, as i just said i want to find out the role of saudi arabia in this war. what might happen. iowa senator joni ernst just
4:19 pm
beth met with the saudi crowned prince and he'll tell us next up, if it's going to be normal, a blowup. will he stay neutral? senator ernst up next on kudlow. ♪ ♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™.
4:20 pm
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 1-800-763-2763. 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 for regular income... are federally tax-free...
4:21 pm
and have historically low risk. call today to request your free bond guide. 1-800-763-2763. that's 1-800-763-2763. - [soldier] take a look at this! - they've left us a gift. - [soldier] i think we misjudged them. - i love horses. (birds chirping) - [soldier] we should open the gate. - let's see what charlotte thinks. - [narrator] at crowdstrike, we monitor trillions of cyber events to detect threats and prevent breaches before they happen to keep your business from becoming history. we stop cyberattacks. we stop breaches. we stop a lot of bad things from happening. crowdstrike. protection that powers you.
4:22 pm
you're probably not easily persuaded to switch mobile providers for your business. but what if we told you it's possible that comcast business mobile can save you up to 75% a year on your wireless bill versus the big three carriers? have we piqued your interest? you can get two unlimited lines for just $30 each a month. there are no term contracts or line activation fees. and you can bring your own device. oh, and all on the most reliable 5g mobile network nationwide. wireless that works for you. it's not just possible.
4:24 pm
larry: we've got iowa senator joni ernst that met with saudi crowned prince mohammed bin salman and joins us now to talk about it. welcome, j joni ernst. senator ernst, you got home in one piece so that's a big plus. give me your -- everyone is worried about this and war is hell and we don't know what the future is going to help. you've been through the middle east with the bipartisan group and talking your judgment and you've been in the military and you're an expert on foreign policy. what do you think the saudis will do? how will they play this dreadful war?
4:25 pm
>> yes, larry, thank you for having me on. it was an honor to go into the middle east and meet with these clearly very important leaders of the the key is the kingdom of saudi arabia and am of us felt this level of energy and optimism however that very next morning wake up and we found and israel by hamas and clearly saudi arabia is doing a very delicate ball languaging act and they may undue state support for the palestinian people. that's a far cry from saying
4:26 pm
they agree with what hamas is doing to the israeli people and hamas is backed by iran. there's a very tentive agreement between iran and -- tentative agreement between iran and saudi arabia and they want to continue to look to the west for their partnerships. so i would say that i don't think the israeli saudi agreement is dead. i think this complicates the issue very much. but i do believe that the kingdom wants to move forward. they want to see stability in their region, which brings about greater prosperity for their people. larry: senator ernst, i'll read you a news clip, iranian president and s saudi crowned pe
4:27 pm
mohammed bin salman met for the first time to discuss the attack against israel. during the call they discussed "the need to end war crimes against palestine". i don't know what that means. you're in this too and said when asked about the crowned prince's phone conversation, senator ernst called it a delicate balancing act. the need to end war crimes against palestine. as, senator, i mean, if, look, the thrusters of the abraham accords and the hurst of the trump policies was to isolate iran and bring the gulf states towards israel. there was a lot of success, not 100% but we made great strides and you were apart of that and apart of the senate helping in along and you're still doing it. i'm just worried that iran, which is essentially financing and backing hamas and planning for hamas, "the wall street
4:28 pm
journal" said iran is hamas' ventriloquist. this will change that. instead of the center of gravity moving away and the center of gravity moves back to hezbollah, hamas, and iran. what do you think? i mean, i'm just speculating, ma'am. i don't know anything. i'm just asking. >> oh, and you know a lot, larry. give yourself some credit, you do. the situation we're faced with now and all of these roads lead back to appeasement. coming from the biden administration. so i would say saudi arabia has had to pull closer to iran and they're under constant threat coming from iran and when they see that the united states is not being a good partner to them, they do have to enter into a level of agreement with theire adversary for their
4:29 pm
protection and we see this with the administration failing completely with working with the arab emirates and making sure we're protecting oil resources moving through the gulf. there's a number of occasions where they are asking for assistance and got absolutely nothing encountering iran and attacks coming from iran. when we are absent in leadership, these countries are going to gravitate to other regions via russia, be it china, be it iran when we're creating that void. they have to lookout for their own best interests and if we're not helping along with that, of course they are going to turn a different direction. so if it's not a solution for
4:30 pm
the middle east, they'll have to chart their own solution and we're not going to like it. larry: one more point, senator, i know you've been among many that want to freeze the $6 billion to stop from going to iran and you're dead right. but the bigger issue here is no matter what janet yellen says or joe biden or jake sullivan or any of the crowd, they've totally relaxed the sanctions and the sanctions, which go across the board, they're oil sanctions, banking sanctions, business sanctions, et cetera. they have been relaxed and the foreign exchange reservings have gone way up, oil revenue have gone way up. $6 billion is one thing but for all we know is $100 for oil and estimates are $60-70 billion. my question, when you get back or when senate reconvenes and i presume the house will get itself a speaker and start to play with you, can you
4:31 pm
strengthen these and get a bipartisan group to strengthen the sanctions and essentially force the administration by law to restore tough sanctions on banking, on business, on oil, on clogging up the gulf, you know, oil shipping because you've done it once. i mean, iran is on the list, venezuela is on the list, north korea is on the list, et cetera, et cetera. can you reinforce that and get a bipartisan group to do it? because the bidens have given that up. >> yes, larry, i believe we can and we've demonstrated this. back in april, i authored a letter to the administration, to president joe biden, you know who the colead was on that? richard blumenthal, democrat, that joined and both on the armed services committee so there are a number of democrats that understand this administration is not pressing
4:32 pm
on those sanctions and not enforcing them. you're right, the iranians have seen an ex-fold increase in oil exports. it's at the highest level it's been in five years. we know they provide 93% of the funding to hamas. essentially what we've seen is this administration back away from sanctions, which continues to enrich iran and thus in turn the terrorist proxies. those that have pushed this fight against the israelis. so again, it goes back to the iranians and appeasement from this administration. larry: good luck on it. appreciate it very much. thank you, se senator joni erns. coming up -- helping train the(o thidf.ff stay with user. i'm kudlow. nope. fisher avoids them.
4:33 pm
(other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when our clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different.
4:38 pm
members in israel. cameron, welcome to the show. we appreciate it very much. the reports are ground forces starting to mass into gaza, commandos on the ground, special forces as you know have been on the ground to help the precision bombing. let me just ask you, i mean, this is not -- i don't mean to demean this, this is not israel's first rodeo. they know how to go after hamas and terrorists and i want to understand your thoughts and someone that's engaged and there's a lot of hand ringing and it's a bigger deal and the fact is that i think people should have a little more confidence in the israeli defense forces. what do you think? >> yeah, thank you, larry.
4:39 pm
the idf are some of the most brave and remarkable soldiers i've had the opportunity to train. they all integrate in a cohesive fashion. while this is a new conflict in the sense that perhaps bombings and techniques are new and novel and threats but the overall mission itself is not something new to israel unfortunately. they're all too prepared and i think that they're going to be very swift and effective with how they remediate this. larry: i know it was a surprise and we can worry about intelligence breakdowns later on. but the fact of the matter is i think that this will increase the deputy nation or moral of israeli citizens and defense forces because they're furious at how these children were treated and grandmothers were treated and in general this unexpected war. i mean, to me, i'm not going to say that it's awakening a sleeping giant like america in
4:40 pm
world war ii. but it's a bit like that. okay, it was a wakeup call but now israel is furious. >> that's an accurate statement and based on conversations i've had with members of the idf and former members of idf as well, that very much seems to be the reality on the ground. i think with conflicts like this, especially with the possibility of engaging in conflict and multi-front warfare both in the north and the south, the resolve of idf and all the other supporting mechanisms they're utilizing for national defense has really made some astonishing successes here so they've stood up an entire northern command as a deterrent for hezbollah to enter the war and it'll be very effective and they've set up a very robust southern component so that they're going to be able to go block by block, straight street by street in gaza and clear. we're already hearing reports of commandos there currently engaging in both intelligence collecting as well as combat operations against counter terrorism operations so i agree
4:41 pm
with you. the feedbacks i'm receiving overwhelmingly is it is having a great unifying effect and we're seeing that in their government. the israeli government unified under a coalition government right now so as to ensure their people have in tact and effective leadership. larry: cameron, you know general keane. listen to him on the show last night. >> larry, we have to be up front about what needs to be done here. we need to kill them. this is the the only thing that stops these guys. they are absolutely committed to this barbarism, and we got to go in and kill them, just like we did with isis, just like with the al-qaida. larry: cameron, you know, general keane, tough old guy and a lot of experience. he laid out the mission. unfortunately, war is hell, but we shouldn't be ringing hands, we should be rallying behind the idf. i mean, they're going to have to do what they're going to do.
4:42 pm
there's going to be collateral damage, but that was brought upon by hamas. i won't make any excuses for hamass. i want to make all the support for the idf that i can. >> yeah, larry, i completely agree with that statement. the major warfare is always a calamity in the sense it take as great toll on many but again, israel did not start this conflict but they have the resolve i believe to finish it. they've declared officially war within their cabinet and their ultimate goal and objective is the complete and utter elimination of hamas. that's an effect i have strategy. they also go through great lengths and strides so as to preserve human life. the benevolence of this people is remarkable and they subjugate some of their people and it's way beyond the level of risk that we'd cassioppi cement for american troops so as to minimize casualties against civilians. it's really a remarkable and impossible job. larry: yes, sir, cameron
4:43 pm
hamilton, thanks for coming on and hope to see you more as this proceeds. thank you very much. >> thank you, larry. larry: we're going to switch gears now and joining us is mr. wonderful, shark tank investor and chairman of o'leary investors and we pulled him out of bed and he's in tokyo, i think. we pulled him out of bed at an ungodly early hour. we thank you for that, kevin. ken, you know, a lot alaska the world but you know a lot about the middle east. and we were talking to senator joni ernst, what is saudi arabia going to do and throw in kahootz with iran or is there a blowup in the world market situation. what do you think, kevin o'leary? >> the most important thing to understand about riad is it's going through a transition and modernizing its economy and reaching out to the world and joining with buyers of the world
4:44 pm
and they want diversification but they want peace in the region most and so do the people in. uae and abu dhabi and the same indoha and can tar and you can't advance your economy without peace. this is not a good outcome for any of them. they're not supporting a conflict. it done a lot help. for a long time, almost 17 years, you think about the advances that occurred in saudi arabia and all the changes that they're going through and all the conflict they want to avoid. this isn't good news, larry. they don't like it at all. people should understand something about the alliances that are forming in the middle east. you know, i just left there ten days ago. i don't care whether you go to abu dhabi, which i consider the new capitol of capital in the world. tremendous amount of capital going there. but doha, 45 minutes outside of dohas the largest air force base outside of the u.s.. they've accommodated us there to provide all kinds of technology. the department of defense is
4:45 pm
operating there. they're our allies and they want peace. the saudis want the same thing. so right now you've got a lot of interest in the region to get this conflict over with and move forward. larry: so, does that explain -- those are all really important analytic points. thank you. that would explain the calmness. we've had a calmness in the oil markets, which is kind of the first place you look when you talk about the middle east. but in general, we've had a calmness in bond yields, we've had no blowups in the stock market and so that's what markets are sniffing out and don't want to go into the middle earn states and gulf states and allies of the united states. they entity want a gigantic conflict over there. they'll probably keep their distance from iran and hamas. >> that's true, larry, there's another issue to deal with here and going on for almost three years and the saudis, oil out of
4:46 pm
qatar, oil out of uae, there's tremendous pressure from other countries to acquire that oil, notably here in japan with they need, they don't produce any gas and buy from qatar and saudis themselves have quite diplomacy shuttles to the u.s., to the president, to the white house and said, look, you have got to wean away from oil. the saudis committed $14 billion to build an oil refinery in china and they'll sell to china and china wants energy independence and security. we need to dot same. basically what has to happen now is to understand the importance of increasing our protection. we're at 12 million-barrel as day and we've got to get up to 14 or 15 really quickly. the saudis can't supply us that much oil anymore. the world needs it and they have to have diversity indication of their income. so -- diversification of their income and this is same for uae
4:47 pm
and america has to wake up on policy and increase production dramatically over the next 2-3 years and not impossible to do that and it's a warning cry and should be on everybody's mind and should be and will be an issue in the upcoming election. energy security, energy independence now. larry: you're 1,000% right and you're singing to the choir. we had steve mnuchin on earlier in the show and said the exact same thing. we shouldn't leave ourselves vulnerable to these kinds of shocks. so far just the last 20, 30 seconds, kevin. so far markets, financial markets are taking this awful hamas story in stride so far. >> they are, larry, but they're also assume ago quick end to this conflict. nobody knows how long it's going to last and tragic and heart breaking and being watched like
4:48 pm
never before through social media and they're gut wrenching out of there and market is assume ago quick resolution to this one way or another and that doesn't happen and we've gone through the shopping list of countries and if we want that resolved quickly and if the people involved in the region and who wants to live like this? this is horrible. and at the end of the day the markets have said this isn't going to be a protracted war like what's going on in crew crane and it's in a dense area. you visit that part of the world and realize this is a really, really small area and basely 2 million people living in it, and it's got to get resolved. larry: markets may be a bit naive. i know markets encapsulate all and i'm a free market guy. most of the experts are saying this is going to take longer. israel wants to clean out hamas. and, you know, they got 300 miles of cafes and whatnot.
4:49 pm
>> we're not affecting and shutting down gas and the closest is the output of cyprus and a few hundred miles away and hasn't been affected at all. this is a very localized almost grady trimble la war and if any of the things you talked about don't happen and not a quick resolution or it spreads, that's going to be a problem. and again, i would argue that just getting you back to the point of getting energy independence in the u.s.. i don't know, why isn't this a bipartisan issue? how can this not be a bipartisan issue? who wants to end up in a situation where no energy? that's insane. larry: i got to jump. kevin o'leary, you're right, 100% right for heaven's sakes. come home. come on home. come on home with me. have a great trip to tokyo.
4:50 pm
all right, folks, mr. jim jordan has been chosen as house speaker nominee in the conference. you know, i love the guy. love him. great conservative. but we kind of have seen this movie before. stick around, we'll have a little reporting on this development. i'm kudlow. ♪ use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside - and the other goals along the way. wealth plan can help get you there. ♪ j.p. morgan wealth management. your best defense against erosion and cavities is strong enamel- nothing beats it. new pronamel active shield actively shields the enamel to defend against erosion and cavities. i think that this product is a gamechanger for my patients- it really works.
4:55 pm
to spread up, i'm going to be my own reporter. house republicans conference selected jim jordan as the new speaker candidate. there to vote today i got in touch with their feelings and they started voting. the first boat and told was 124 to 81 for mr. jordan. then that's police, steve police had 113 votes so not much better. a second boat was taken and it was longer for mr. jordan, 152 were jim jordan, 55 nays and one abstention. it's closer, the hurdle is to 17. mr. jordan is a long tongue friend of mine, strong conservative house member, a great following, president trump
4:56 pm
is behind him. we will see what happens. jim jordan is the guy for the moment. ♪ this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each, with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you. ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines.
4:57 pm
4:58 pm
gold terra resources. say goodbye to daily insulin injections with omnipod 5... a tubeless system that automatically adjusts insulin to help protect against highs and lows. try it today. go to omnipod.com for risk information and instructions for use. consult your doctor before starting on omnipod. - what does searching for a medicare plan feel like? - it's kind of confusing. - it's so complicated. - we get tons of mail, tons of calls. it's annoying. - [narrator] ehealth is a less stressful way to find health insurance. to prove it, we found people looking for a new medicare plan and we monitored everyone's stress. your mission today is to find a medicare advantage plan that fits you. - [narrator] half did it by searching the usual way. - [speaker] on this side, you get to use everything
4:59 pm
on the whole internet, except you can't use ehealth. - [narrator] the other half did it by matching with ehealth. - the people on this side. you guys all get to use ehealth.com. you can even call ehealth. on your mark, get set, go find a medicare match. - [narrator] and you can find your medicare match. give us a call or visit ehealth.com. now, let's talk about why you'd wanna call ehealth. - maybe it feels like you paid too much for too little. maybe your current plan is changing or your needs are changing. either way, now is the time of year you can do something about it. - [narrator] compare plans that cover your doctors, your prescriptions, your pharmacy and your budget. compare your current plan to newer plans and compare them side by side. because ehealth carries plans from the nation's top insurance companies, the same plans at the same price as them. - they pay us to help you find a match. that's how ehealth is always a free service. - [narrator] now let's check in on those two groups. searching and matching. searching side? - i mean this could take days. - [narrator] ehealth side?
5:00 pm
- this is great. this is really slick. - [narrator] for people searching the usual way, stress levels stayed high. for those using ehealth, stress went down. - it gives you the opportunity to compare side by side. - of the top three, i found two that were better than the ones i got. - it's looking like they could possibly save me quite a bit of money. - compare all in one plans, all in one place, ehealth. - [narrator] ehealth, your medicare matchmaker. just want to end this week, god bless israeli defense forces i hope they keep their resolve, i know they will defending their freedom and democracy and america supports you. know that, please. everybody will support liz mcdonald. >> israel, tiny beacon of ligh
68 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on