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to kudlow i'm larry kudlow, day 20 of barbaric hamas, hezbollah iranian war on israel, we go to greg palkot who is our senior foreign affairs correspondent, what can you tell us? yesterday was like a full invasion. what is going on today? reporter: well there is a lot of movement and activity fronts. -- different fronts, signs that the next stage in the war is approaching. overnight in past night, the most aggressive ground incursion that we've seen by israeli military, tanks and troop carriers crossing to northern gaza, for a few hours, they were hitting hamas militant firing positions and preparing the battlefield. this is the airstrikes by israel to gaza continue, some targeted bombs runs hitting hamas militant leaders, and leaving a vast scene of destruction.

a landscape masking over 200 hostages still held by hamas and a growing humanitarian crisis, threatening civilians there. here in northern israel we have been watching escalates skirmishes between the israeli military and iran backed hezbollah militants, we're seeing reports that launching fighter jets and drone strikes deeper into lebanon. a telling picture recently released a meeting in pay beirut, lebanon between a top hamas official, leader of a militant group and head of hezbollah, behind them pictures of past and present leaders of their benefactor iran. this is that u.s. forces have been targeted by iran-backed militias, 21

american troops have been injured in the last week, a region in turmoil. larry: greg palkot, thank you for that. i just wish more attention was paid to fact, now not only 30 something americans were killed in original hamas massacre, but americans are getting injured as they fire on us, u.s. military assets, god bless so far no deaths have been reported, there are injuries, these are war actions. >> reporter: absolutely. u.s. certainly a target, as you noted there were deaths on that terrible october 7 and hostages held we believe 11, 12. 600 americans remaining in gaza, palestinian americans who still have not gotten out, through this region the talk of the possibility, of some kind of a mass evacuation from israel,

lebanon and elsewhere if things really heat up, they are the many dimensions that we're looking at. larry: greg palkot thank you, be safe we appreciate your reporting. >> senator j.d. vance will come on. we have an interview. but let me say, in my riff, why is it that president biden, secretary of state antony blinken and white house spokesman john kirby, day in day out continue the fiction that iran has no direct involvement with the terrorists in hamas for that matter islamic jihad or hezbollah. for the barbaric invasion of israel on october 7, why are they maintaining this lie? today, front page "wall street journal," headlined hamas fighters trained in iran before october 7 attacks, sub header, roughly

500 palestinian militants got specialized, combat inveinve instruction at iranian facilities as recently in september. about a third of the way in, before the war, iran directly assisted hamas with money, training, and weapons and technological know how said rear admiral daniel hagari and adds, even now iran is helping hamas with intelligence, after october 7 catastrophe, "wall street journal" ran a story with headline iran helped plot attack on israel. and "washington post," corroborated that story the next day. now to be fair, this morning's "wall street journal" story quotes a u.s. air force general who maintains the fiction there is no direct connection, but

looking at this and other news reports, news reports, not just editorials, i think that u.s. government is making a big mistake denying iran's direct involvement. this is starting to have a vietnam feel to it remember those days when democratic and republican administrations lied to the american public. about the extent of u.s. involvement in the vietnam war. oddly, from political stand point, americans support the israeli cause. they have a huge distrust of iran. i don't understand the political judgment much less the highly flawed military judgment. now as we know, for nearly 3 years president biden tried to negotiate a nuclear d deal with iran, he in inherited this stupid tie from president obama, they attached u.n. security

council sanctions on that deal, lately, when u.n. ballistic missile sanctions expired last week, they were not snapped back, now even those unenforced sanctions have essentially expired. but the biden administration is also chosen to not enforce the economic sanctions that were put in place by the trump administration. those economic and energy sanctions that were strictly implemented by mr. trump and his administration, basically bankrupted iran. when trump took out iran a top military man, soleimani ethe iranians did not do anything, they were broke. today, as we know, as the facts show, iran is flush with energy, and foreign exchange reserves, that they are used to finance hamas and other terrorist groups, before the october 7 blow up biden was trying to give iran more cash, essentially the key point, i suppose, is

to acknowledge iran's direct role in training and financing the terrorist attacks against israel and the united states to do that, would require an acknowledgment from biden that his iranian policy of app appeasement has gone wrong, very wrong from the very beginning. he doesn't want to make that acknowledgement, he and his spokespeople have come up with this fiction as best a semantic and worst out right lie, that iran had no direct involvement in israel and americans massacred. you can parse words but you can't parse the truth. iran is unappeasable. they will continue as the largest state sponsor of terrorist without de deterrentses, the bidens have to understand that hard fact iran will never changes its ways or the terrorist

puppets biden must at a minimum reinstate the economic and energy sanctions of the trump years. and the quickest way that i can think to do that would be to interdict or impound an iranian ship on high seas. those sanctions were imposed legislatively by u.s. congress and enforced by the trump administration. to be real simple, i call it stop a ship. if you do, you will sene message. go back to the trump model. a change of biden's policies toward iran that is honest and transparent, that is the best thing that biden could do to protect israel and the united states. and then just please, quit lying to us. all right, now, as i said, just a few moments ago. i spoke with senator j.d.

vance of ohio, take a listen. >> senator vance, welcome back to the show, sir. >> thank you, larry. larry: all right, our pleasure. just let me begin with some of your news, you and handy full of other senators want a different kind of supplemental to fund f foreign assistant, a stand alone for israel, i believe your number is 14 billion. can you tell us about this plan, and will it entail a flight with senator mc mcconnell who wants the big package. >> i don't think it has to entail a fight, the majority would like to separate the packages, we have 14 billion in questions for israel, i support it probably 99 of my colleagues support it in united states senate. on other hand you have 60

billion for biden's approach in ukraine, which i believe is not in america's interest, why not have separate debates, only way do that would be to separate the packages and biden trueing to do knowing that israel aid is popular, he is using it as a fig leave to shove an open borders proposal down our dl -- throat, the border funding is facilitating the in migrations of illegal immigrants, why would we allow joe biden to pretend he is helping israel when all he is doing is further opening the american southern board eit is bad politics and bad policy and most republicans won't stand for it. larry: just on that, coming back to israel. but on that border point. first, it is one of most important issues right now in the country. a lot of polls, after you

get past economy and inflation, where bidenomics is in mid 20% approval. you really come to the border. and as i understand, reading some of this stuff, published by the white house, it is about a billion dollars but it would enhance catch and release and it would reduce the border patrol people to like baby sitters and paper pushers, this wouldn't do a single thing to close the border including, sir, to close the border to people from countries that could be potential p terrorists. >> you are right, larry, that polling shows the wisdom of american people. the border is a huge crisis, you talking about a hundred thousand people dying of fentanyl, the biggest risk of terrorist attack that we've had in 20 years, why because many of the people from the terrorist watch list have come across this border and mean would would

like to come, they know american southern border is rapid way to come in it is the express ti ticket into america. why would the republican senate consent to combining aid to israel with billions of will d collar -- dollar to transport illegal migrants to the country, it does not make sense, when we know that there are members of hamas, trying to get through the border this is an insane policy, larry, i recognize a lot of my colleagues would like to support our ally israel, we should support them. but we should not let this support be used as a fig leaf for a bunch of disastrous biden administration policies. >> how fast could you get israeli aid done. >> 3 put it out last night, it has to lay over in senate for about a day, there is a world where democrat don't object on this, we could get it voted on monday, it could

happen quickly, we'll see how many of my colleagues are willing to put their money where there mouth is, if they think there is a bipartisan consensus for supporting israel they should let this through, i suspect will happen, is that some democrats recognizing they don't want to give walker this little bit -- give away political leverage will try to enforce a combined force on the package, we'll see what people do, can if they believe in supportingure allies in the world, this is an opportunity to do it, but i don't think that is what is going on. larry: are you happy with speaker mike johnson who is on same page as you on this. >> i am very happy with spik speaker johnson, a wit people talk about how it was messy and chaotic, sometimes democracy is, that is a good thing this resulted in a speaker that is a consentous choice, i am thrilled we have a new spiker -- speaker

our job is to not under cut the new speaker, he has knnegotiations and deal with president of united states, and his own sit of policies, let's not under cut him, i think dividing the packages is a way to do that. larry: back to the israel war and the war itself. president biden secretary of state antony blinken and spokesman kirby keep telling us there is no direct iranian involvement in this barbaric hamas invasion. they keep maintaining that this morning i'm sure you saw it front page, "wall street journal," the story is, essentially, 500, terrorists were trained in iran, islamic jihad, hamas, 500 trained in iran just

weeks before the invasion itself. and this comes after another "wall street journal" story and a "washington post" story probably several weeks ago, now, that suggested that iran was working hand in glove with hamas for the last two years, planning and financing this invasion. and i want to read you israel's top military spokesman rear admiral daniel habari . before war, iran directly assisted hamas with money, training, weapons and technological know how, who is biden kidding that iran of the not directly involved? i ask you. >> i think he is kidding himself. and we know that iran is the biggest state sponsor of terrorism in the world. we thain have been directly supportive of hamas, if the last few years, and here is thing, this is why this is crazy for the biden administration to hand over billions of dollars to iran knowing that a big chunk

will be used to states sponsor terrorism. the biden folks have a line, that does not make sense, you are a smart guy with finance, they say, well, that is 6 billion is not being used for terrorism but for humanitarian help. well, money is fungible if you give someone a dollar for humanitarian assistance that frees up resources, let's stop funding iran, in moment we know they are supporting terrorism, not just gain the our allies but against us. larry: that brings me to my last point. way do this, right now, is to enforce the sanctions. which have gone unenforced for almost 3 years that includes the failure for a ssnap back of u.n. sanctions on ballistic missiles. but, i call it stop a ship. if you want to send a makes to iran, if you want to show some deterants instead of

appease am, appeasement, why not eany iranian ship, carrying oil or drones or whatever it is, they are not supposed to do that under the sanctions, we had them bankrupted in the trump years now they are plush with 80 billion in oil and foreign exchanger reserves, why not stop a ship? why down you get a bipartisan bill through congress through senate or some darn thing, to make the bidens enforce the sanctions because we all know that iran is the mast irpuppeteer? >> well, larry, you are right, we need to enforce the sanctions there are piecing of legislation working through senate and house that would do that by -- by the way, let's not f forget or energy policy is actively enriching the iranians if we drilled for oil here in our own country

we would not be funding the iranian state sponsor of terrorism regime, with one hand joe biden said he wants to stop iranians from sponsors terrorism but with other hand he pursues energy policy that makes americans poorer and iranian mullahs richer, the biggest thing we could do to make ourselves energy dominant, that is why donald trump needs to become president in 20e 24 in intern we need to promote energy independents, this is not just a war on our consumers but a war for america's enemies. >> senator vance thank you for your time, we appreciate it. >> thank you. larry: already that was jdvand-- kudlow, anti-semitic hate crimes should get people busted and thrown in jail, why has know

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anti-semitic hate crimes? that happened in other minority groups which had been attacked for example. why hasn't biden done this, joining me to talk about it, is our great friend newt gingrich, former speaker of the house, fox news contributor. for starters, i guess it was today or yesterday, at cooper union, downtown new york, there was a palestinian rally and they found that there were jewish kids in the library and started to march against it, and the kids had to lock the doors to save themselves. in washington d.c. yesterday or the day before george washington yesterday, they had all kinds of things projected on walls, i don't think if it was g graffiti or pictures, we have seen what they have done at j

yale and harvard. the point is, they are hate crimes. you said, that why is this administration not acting on this? >> there, i think it is easy to underestimate the depth of anti-israeli and anti-semitic attitudes that are now at heart of democratic party and the biden administration. the fact is supposedly a hundred people in the white house went to a meeting to deal with their anxieties about what is happening not to deal with anger about 40 babies and killed and beheaded and women raped and dragged through the streets dead with people spitting on them ordeal with anger about 1400 innocent people slaughtered. oh, no, their anxieties,

watch the news media, now we decided that palestinians were being hurt only because hamas uses them as a shield. this war could end this evening, if hamas would surrender. but hamas will not. and hamas does not mind palestinians being killed. as long as they are able to put them on youtube or on tiktok or some other device, to use them for propaganda. here in united states, first. anyone who is here who is not a citizen who is participating in anti-semitic rallies should be deported. they should lose their green cards or student visas, and begun -- gone, we should enforce the law which already exists, which requires all these major universities to publicly state where their funding comes from, i think between the chinese and various elements like iranians we would be shocked at depth of men tration in the system,

congress right now, should be actively investigating the fact that there are at least 4 iranian agents works in defense and state department. people who are iranian agents, the key person making policy under obama, turned out to be an agent. this is mad inni -- mmaddening, remember death to america and death to israel are not just slogans that is the goal ofs iranian dictatorship, and we're shipping passively, as if we ignored stalin and soviet union and unwilling to deal with's rul -- communist penetration. larry: this justice department, merrick garland and fbi have gone after pro-life catholics and parents who are worried about sex changes among 7 years old, and go to

pta meetings, but where are they at these anti-semitic rallies for example? or gatherings? why are they not announcing they will monitor this. the thing that p that -- plows me away is nothing has been said about it silence is deafening and troubling. >> look, let's be honest. these people are committed to an anti-american value system, they are committed to being anti-christian and anti-jewish and anti-write, this runs all the we that biden administration and now much of the democratic party. and it say huge problem. and the campuses which we'll have to recapture, are occupied by people who ahead america, professors who say that it is great that the jews are being killed, why

are they not fired? a whole a risk of places we have lost the capacity to stand up for ourselves and to draw a line in the sand and mean it. by the way, notice, we don't defend americans overseas. the iran iranians had their various proxies, shooting at us for weeks now. the hamas killed 32 americans at least with 10 missing. where is the punishment? where are the tomahawk missiles or effort to go right after them, you know, the answer is not -- we have had biden and secretary of state say, oh, we'll hold them accountable. well, i see a refinery blow up and take your ship one step further, see us impoundive iranian ship at sea then i'll begin to think we're holding them accountable, until then this is a gutless administration that lies to everyone and tolerating a level of

anti-american and anti-israeli behavior that is unthinkable. larry: thank you, sir, we appreciate it very much. >> coming up, next block senator chuck grassley says, he wrote a letter to justice department saying there were 40 fbi sources, fbi sources, that gave criminal information on the biden scandals and the justice department squashed them as quote, foreign disinformation. really? 40 fbi sources. foreign disinformation. anyway we'll talk about it with george washington university law professor jonathan turley. >> top line gdp looked strong but under the hood there are serious problems on the he horizon, we have all-star panel, when kudlow returns.

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larry: all right, another problem out there now senator chuck grassley says, there were 40 fbi sources, fbi sources,/4 fourth of them game criminal information on the bidens, that the justice department is apparently trying to squash as quote, foreign disinformation. really? foreign disinformation? all right. joining me now is jonathan turley, george washington university law professor, constitutional lawyer, fox news contributor, a brilliant person, grassley, you know, if you ever work up on the hill or spend time up there, you not to not mess with chuck grassley, he mote this letter and he wants a response. but jonathan, i guess what is new is 40 fbi -- the 10 23s and 40 sources were

squashed? you tell me, what does this mean? >> so important we have to find out what it does mean. what the sources were and why they were not pursued. we've seen this movie before, this happened with hunter biden laptop, we know biden campaign was behind pushing that narrative. that laptop was russian disinformation they got the former intelligence officials to sign off on it, that was debunked fairly quickly by american intelligence, who said there is no information this is russian disinformation. the question, is if the same narrative -- is it the same narrative, the same phenomenon affecting the fbi, this is not a career enhancing move to investigate a sitting president or vice president. when people down want to do the right thing, they will try to find any reason not to do it.

and russian disinformation in the past, has been that thing. >> i tell you, i will read quickly from brook grassley learned that an fbi task force within washington field office sought to and in cases successfully shut down reporting and information from their sources, the fbi sources, by falsely discrediting the information as foreign disinformation. that caused the investigative activity on cease, this not good. it needs to be tended to. >> well, the real concerning aspect of that grassley letter are all of the usual suspects that office in past has been the choke point in terms of investigating of the bidens, you have keep in mind, the bidens have been known for influence peddling

for decades, they took the favored form of corruption to a new level. this really is concerning. particularly because of the cast of players involved. >> you know, other thing that grassley points out, other fbi field officers did not partly -- offices did not participate in squashing this information it was washington one that was leader. we have had trouble with this crowd before, i don't think whether you are left -- i don't care whether you are lift or right, but you want them to be straight, so many people have argued the washington office needs to be changed. you know more about this. but it is like here they go again. >> and the thing that people need to realize it is easy to quash investigations in a government of this size. we saw it with the whistleblowers they never really saw the hand pulling the levers, they just knew that they believed they had

credible case against hunter biden for very serious crimes and the lights kept getting shut off this follows that pattern, does not mean that all of these 40 sources were supported and would have been moved upon but they form a pattern or a mosaic, you would think merrick garland would say, you know, let's be tran transparent and answer the questions so the public can regain trust in the fbi. larry: and you know, let's get to the bottom of this. that is what the public would like jonathan turley thank you, sir. >> thank you, thank you, larry. >> we'll talk about today's gdp report, 4.9%, we have liz peek. fox news contributor and jason trennert and brian

brenberg. right here on fox business. my lickety split top line number big number under the hood a lot of problems for. >> big number but with 2 trillion dollar deficit running it should be a big number. what is under the hood is continued high level of inflation lower real disposable income for i think third month in a row, that does not auger well for consumer spending that is what we're looking for going forward. and finally, big, big increase in government spending as we have seen last couple months that is something that is really pulling -- pushing this economy forward. larry: a third of that increase for this number was inventory ak accumulation, that is not sustainable. jason our guy dan clifton

was writing because of debt ceiling debate. they post pointed final -- poned final one for increase, the treasury ran down treasury cash balances like the fi federal reserve, they injected 5 or 600 billion dollars into the eco economy. late last spring, i think that went into consumer spending in third quarter. it is like a almost like a hoax. >> a double barrel dose of stimulus after silicon valley bank failed. and then because you were not issuing new treasuries you you true down all of the cash reserves in treasury department. and so, it is not surprising in a way that you have strong growth. i would say, avoiding a recession at all costs, which seems to be what

ernments to -- everyone wants to did has a cost, that cost is inflation, i'm of the view that this is going to be harder, to put the genie back in bottle than the feds and markets think. we're running deficits. larry: core deflater, up 3.9%. you are still running 3% or 4% inflation. brian brenberg, yell eyellen says our problem is solved. >> they are not supply ciders that is the problem, it is built on this deficit and debt spending not income driven. real incomes north rising, people are dipping into their savings. and that is what they can feel, they know, they can say, high level, the economy grew. but at an individual level people say i know what i'm paying for things and i know

where i got the money, i don't like where i'm going for that money, this summer was a blowout spending summer but it was a services spending summer larry, that is buy now, bay pay later or maybe never. >> i think 3% there to taylor swift concerts i'm the only one in building, now she is hooked up with a football player from a time i dislike the most, i sure as hell am not going, you take out enough categories of category you can get low inflation. so, i talk to a great pal of mine, i am responsible for editorial part. i said, okay, i want you to take out everything, but food and energy. leave the food and energy in take out everything else in inflation index, in the third quarter that was up

6.6 percent annual rate. himyologic is simple, food and energy is what people buy. 6.6% of annual rate. take out every other bloody thing, beat them at their own game. >> i think that is right. and if you had ad in housing it would be -- be -- >> i'm not touching that that k kills my model. >> that is what people feel and they are reacting to it has an impact on consumer sentiment and spending, i think going forward. some of the best economists on wall street say, we're at a turning point, you can see it in employment data and auto delynn quincies on consumer debt we're getting to the end of a big consumer bubble that you were talking about, consumers cannot spend forever, the savings rate down to 3.8 last

quarter. >> you still have a inverted yield curve, been invert inverted for a while, ache ve -- 60% chance of recession next year. >> now down big. larry: i wouldn't dir dis, the nazdaq is in a very mean correction and mortgage rate over 8%. >> i think best leading indicator is profits, and profits are lower this year than they were last year. what surprising is that the employment pick picture held up well but there is only so long that companies will hoard workers or labor after a period of finding it difficult to find them before they say we have to take care of our own profits, to me that is the best leading indicator of all, mother's milk of

sphoks. stock. >> the last word, business "judge jeanine investigates . >> investment fell, the biden like that, they hate business. brian brenberg, i thought it was business success that created wherewithal for jobs and economy. >> we have the cart before the horse, big time right now, and horse says i don't want to pull any more, i'm pulling back i'm out. i don't like this environment, you can go on clapping about 4.9 percent, but you better enjoy it as consumer runs out of people, the businesses have said, i'm out. until i get's policy that woworks fors that you is not happening with biden. larry: back to my model, take everything out of price index live in food and energy. up 6. 6% annual rate, liz peek, and jason trennert and

brian brenberg. it is my favorite, coming up stoms got whacked today. the small business russell 2000 is getting clobbered. the nazdaq tech thing is getting clobbered, so, we'll bring in mr. wonderful, kevin o'leary, i want to see what he says about this stuff, stay right here, i am stuff, stay right here, i am kudlow, take outh. everything. get help with j.p morgan personal advisors. hey, david! ready to get started? work with advisors who create a plan with you, and help you find the right investments. so great getting to know you, let's take a look at your new investment plan. ok, great! this should have you moving in the right direction. thanks jen. get ongoing advice; and manage your investments in the chase mobile app. after advil. feeling better?

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larry: joining us, kevin o'leary. the small business russ russell 2000 down 17 1/2%, and techie nazdaq down 12% and business investment in gdp fallen in two of last 3/4 how do we get out of this mess. >> combination of multiple things here. number one confidence at the ceo suite, you talk about business investment people are getting nevers that you inflation number is nasty, it went go down. -- it won't go down. very hot print. so, the idea that they will lower rates any time soon, forget about it and top of that, either much longer at

these levels 5. 5% or more likely in december a 25 basis point rate hike back on the table. i think before this is over, in inflation stays stubborn northern 3, we'll get to a 6% terminal rate, that is why you see the russell 2000 taking that hit, because small businesses are financed by regional banks that can't take the rate hikes. all of this is interlinked. it fittings together in i dramatic puzzle, right now number one leading attribute to deciding what happens next it inflation it won't go away. >> all right. i have to have a kevin o'leary fix after a day like today, there you are, when you coming on set? come back to new york, we'll do 10 minutes together. kevin. >> i am in atlantic city, i'm so close, i can feel the love, i can feel the love, still far.

larry: nothing but love, the best of the best, i'll be right back. [ applause ] the day you get your clearchoice dental implants changes your struggle with missing teeth forever. it changes how you eat, how you feel, and how you enjoy life. it changes your smile and how others smile at you. clearchoice network doctors have changed over 100,000 lives with dental implants, and they can change yours, too. because a clearchoice day changes every day.

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larry: that's it for kudlow, thanks for watching, folks. [theme - inner circle, "bad boys reply"] get on the ground, dude! ow!