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tv   Varney Company  FOX Business  November 2, 2023 10:00am-11:00am EDT

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stuart: good morning, 10:00 eastern. that a rally, the dow is up 268, nasdaq is up one hundred 64, pretty solid rally i would say. the tenure treasury, the most interesting point of the year, all the way down 4. 65%. 10 days ago is 5% but all the way down 466 right now. that is why big tech and the nasdaq are doing so well. the price of oil around $80 a barrel, $81.49 right now. bitcoin a rally their too, 34,009, earlier it was 35,000 and change. that's the markets, now this. the president was in minneapolis raising campaign money. a rabbi shouted i need you to call for a cease-fire.
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biden replied we need a pause. sounds like the president is bending to the cease-fire pressure which is intense. the pro-hamas lobbying congress, cory busch is brought to tears. demonstrators disrupt congress chanting cease-fire now. you hear it on campuses and on the streets and then here' s this. the hamas leader tells the world what hamas really wants. roll tape. >> is real country with no place in our land. it constitutes a security, military and political catastrophe to the arab and islamic nation and must be finished. we are not ashamed to say with full force, we must teach israel a lesson and do this again and again. it is just the first time, there will be a second, third and fourth because we have the determination and resolve and capabilities to fight. stuart: not exactly a humanitarian. the cease-fire brigade wants to
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let him it is fail oh haters regroup, they want hamas to return and a sweep is real away. the administration is bending. biden says pause. house that different from a cease-fire and appoints vice president harris to fight against islam phobia. 62% of all hate crimes were committed against jews. it is anti-semitism that is tearing us apart. the crushing of hamas has begun, don't slow it down, give them the support they need for a decisive win. second hour of varney just warming up. the gentleman on the right-hand side of the screen is chris benton. is a pause the same as a cease-fire? is biden bending? >> a pause is the same as a cease-fire.
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the president's administration is more hostile to israel than the president himself. he's more cultural democratic party but being pushed from members of congress and european countries to try and call a cease-fire. just as you showed, to stop this war despite the unpopular perspective around the world, until they neutralize hamas it is difficult. general david petraeus said falluja would look like a cakewalk. this would be a dangerous urban combat. they have to battle through this unpopularity because it is important for the national security. stuart: will we maintain our support, will we cave in the face of international pressure to cease-fire or stop the invasion? >> i don't suspect we will but israel has to be looking at the roles of republicans, independents, democrats, college campuses, the hamas
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supporters in congress and saying we count on support of america regardless of who is president for 70 years and that probably, that support i don't think is something israel can count on 20 years from now or 10 years from now. they have to look at the situation and say we need to figure this out on our own because soon we might be on our own. stuart: i will change the subject and look at some polling, new quinnipiac poll that shows trump and biden practically tied in a 2024 rematch. that's the case in the last few months, recent events have not changed public opinion but another result from that paul shows if rfk junior is in the race he gets 22% of the vote. annette case biden pools ahead of trump. what do you make of this? >> a classic protest vote. not that surprising that president biden and donald trump's poll numbers haven't changed, very few people in this country where american
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folks have such ardent opinion on as those two people, we know them, we've known them for decades and decades and rfk junior coming and has an interesting message and some good points but largely 22% or more than that in this country just don't want a rematch between president biden and donald trump which is what we are going to get. stuart: you think we will? biden and trump all over again in 2024, that is it? >> i don't see any way around it. buying a catastrophe which is a possibility at their advanced stages, they are way far ahead the contenders to be the party nominees this time and i think that's what we are going to see again. stuart: thanks for seeing us again, see you again soon. staying on the 2024 race republican meta donor miriam adelson reportedly met with one top gop candidate over the weekend, i think i know which candidate it was. lauren: nikki haley. i think she had dinner with donald trump.
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of this was at a jewish donor gathering in las vegas. she and her late husband are israeli, they are major republican donors. they backed trump two times, 2016-twenty twenty. right now they are keeping their powder dry in the primary, they will support the eventual nominee against president biden. we with one having dinner with nikki haley. lauren: she could have some big money backing her. stuart: thanks. let's get to the markets. do you think, everyone thinks that that is done hiking rates. what do you say? >> when everyone thinks everyone is likely wrong. i've been a contrarian, never thought the fed was done 2 or 3 nights ago. we have one more left and i have good company now. jpmorgan's jamie dimon said he's not predicting but a probably be the fed has 25% basis points. not predicting that but most people underestimate the probability of strengthening
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gdp and jobs will make it hard for the fed to get the inflation target down. lauren: i was going to say read the tea leaves, jay powell said rates are restricted. he did not say sufficiently restricted. meaning let's give it time and let what rate hikes as they did do, let the economy cool off. stuart: you've become a fed water on us. the cottage industry of whatever. lauren: do i get paid more money? lauren: probably. if the fed does hike rates like in december you are not going to get a santa claus rally. >> they want to be done and out of the way in 2,024 because we have an election. that will be the key focus for powell, let's do one more. the trade of 2,024 is going to be stocks up bonds down. we will get cuts so i will go two times contrarian. everyone things we will pause for a long time. i think we have one more hike and the middle of next year start doing it. stuart: the serious rally is not what we are seeing on screen, its first quarter next
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year. >> i agree because i think there's a lot of risk off behavior going on, people pouring into bonds, microcap and small-cap not doing well, that's traditionally biotech, areas where there is speculation that they do well and a lot of tax loss selling that will continue now to the end of the year, the stage is set for january to remember. blue when you're killing me. i'm enjoying this rally. stay right there. i think you are staying with me for the hour. lauren: purchase now pay later, stock going up 14%. they have an extended partnership with amazon. amazon business is adding a firm as a check out option so this expands the business of the firm gets. it starts today but it will be available for outside business customers. stuart: purchase now and pay later. palantir. lauren: analytics company, stock up 22%, they lifted revenue forecast.
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everybody, government or commercial business wants their data analysis. that's where the money is up. stuart: they didn't mention ai. and still up. i know air began be issued a warning, stock is down 2%. lauren: volatility at the end of the year which is when most people travel. what they are doing is stressing their affordability, they picked a metric and said in september the average nightly rate for a 1-bedroom apartment was $120. and how many prices in a year, not going to be 1%. they are trying to control costs and broadcaster that. stuart: stock is up 2.1%. we are hearing disney is selling espn two questions, who might buy it and how much is it worth? lauren: $22 billion.
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who will buy it? bank of america saying tech company like the nba or nfl or verizon, the bank is estimating there's 36% stake of espn put up for sale and $24 billion could be used to boost the streaming pivot. >> it is a good move for disney. they are struggling, they have a linear television business but struggling, a lot of things working against disney. this would free up some cash. espn in the 90s, this was the preeminent place to get sports highlights and news and you could do anywhere on the internet and social media so the price is lower than people anticipate because the buyer will think about linear television. stuart: will they allow a big tech company and use their money for that. you can't have that.
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>> big tech would make the most sense to overcome the linear television industry. stuart: can the us row folk hamas sympathizers? aoc going after pro-israel group calling the racist, bigoted, and extremist. we will tell you how they responded. senator roger marshall went after mayorkas, he wouldn't answer where the terrorists are. who crossed the southern border? senator marshall is next. this is american infrastructure.
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stuart: the rally is fading but not that much, the nasdaq holding on to a 122 deck again. big tech previously 5 minutes ago they are up, we have amazon, microsoft, and meta-moving despite a sharp drop of the yield of for the 10 year treasury. lawmakers want to deport visa holders in support of hamas, griff jenkins has the story. how would it work? lauren: if you have a terrorist organization, and should have supporting foreigners it appears, don't violate their own rules. all these applicants must complete a ds 164, do you intend to provide financial assistance or support terrorist
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organizations. hamas is a terrorist organization. they have an obligation to deport their supporters under current law. the former immigration chief under george w. bush had this observation. >> if you are arrested for any crime, trespassing, breaking the piece, assaulting a police officer and a foreigner in any capacity, student worker, tourist, exchange, you violated the terms of your visa and inadmissible and can be deported. >> reporter: republicans calling for crackdown. marco rubio says their very presence violates the law. no visas are issued until all concerns are fully resolved. whenever we uncover information
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it might suggest a potential threat, sharing with all appropriate us government agencies. cost to crackdown on these, more and more from the campaign trail but a bit of a silence in the white house on this. stuart: i'm not surprised at that. see you soon. senator roger marshall had a fiery exchange with secretary mayorkas. she wanted to know if we are tracking terrorists on the southern border. >> how many illegal aliens in this country were here on asylum with direct ties to hamas to the islamic jihad or islamic revolutionary core overran. >> let me assure you the individuals that pose a risk to national security our highest enforcement priority. an individual who poses a risk
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to national security is the highest enforcement priority. >> you don't know the answer to the question? >> of detention is warranted, then we detain them. stuart: mister senator, we don't know where these terrorists are, do we? >> we don't. we did learn there are 600,000 got aways encountered last year. 600,000 people came across the border, we had no idea who they are, where they are from, if they are criminals on the terrorist watch, the secretary is lying to the american public. he has no idea who's these people are or where they are. we know for sure they caught 60,000 aliens. our border is out of control and this is why americans including kansans, they are
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concerned about their safety. >> we hear we must do this or that, the border has been open for 21/2 years. >> you are right but there is hope. we have a new sheriff in town on the house side, speaker of the house, mike johnson met with him yesterday. if we fund is real his next priority is securing the border. what mayorkas would not do is admit the white house policies created this problem, changing policies could solve the problem. two thirds of the people encountered at the border are asking for asylum. the majority of which came through another country. by changing the policy by raising the bar from what is qualified for asylum by saying if you come to a third country you are not eligible for asylum. policy can change this. he there is hope with speaker
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johnson -- >> another caravan on the way. and close the southern border, do you think that's a little drastic or is that the kind of thing we really have to do? >> we have to close it until we get control of it. i can't imagine telling people at fort riley do your best, a couple hundred thousand people that the border is secure so the nation, people are scared to death, president biden is -- 8 million people across the border under his watch. you wants of them, we have to turn the magnet off with changing policy on asylum. stuart: can you imagine what would happen if there's a terrorist incident in the united states linked to someone who came across illegally our southern border. imagine what would happen. she really that's the catalyst for real change.
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>> fbi director wray said he's concerned about the chances of a terrorist attack, carrying weapons and bombs across the border as well. they are shooting weapons across the border. these people are armed and dangerous, i'm very concerned when you see something say something. stuart: thank you, appreciate it. alexandria ocasio cortez making outrageous statements about groups that support israel. welcome back. is aoc trying to claim these people are the extremists? ashley: yes and how. aoc responding to a post by the american israel public affairs committee who criticized both her and nine others for voting against a resolution supporting
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israel condemning hamas. ocasio cortez ripping that organization claiming it targets lawmakers of color, is a threat to democracy in the us and is one of the more racist and bigoted political action committees in congress. a pro-israel group responded to aoc's comments calling them more of the same tired lies and spin adding anyone who disagrees with a squad number these days is always labeled a racist. stuart: and that is accurate. let's get to tiktok, stand with palestine post have been viewed 3 billion times, stand with israel posts fully been viewed 200 million times. congressman andrew barr says it is time to ban tiktok once and for all. he's on the show to make his case. one florida school district bands of students from using cell phones during the entire school day. they couldn't have phones in their pockets. we will tell you how that worked out next.
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the dow up 288 points and the nasdaq up one hundred 54. i will call that a rally on solid ground. a couple stock picks. >> it is all about ai, talking about how we were bemoaning, we may be seeing the same thing. they will be what nvidia was. both companies reported result in the last two days, sales year-to-date are up 481%, $1.4 billion. we are scaling as fast as we can. this is unabated growth trend. the trend is your friend in the markets, something to do diligence on and if you don't
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own it, or once i'm looking at seriously because this is up year-to-date, 200 plus%, catch the right trend. lauren: not just weight loss and diabetes but studies showing what is preventing that. the fda could expand the use in the next 6 months. the price comes down. if they make enough of it it is widely available to americans than anybody. stuart: eli lilly, i understand that one. how many stocking stuffers. >> it impacts small and microsoft stocks. if you don't have individual names or more research, there
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are great ways, trading at 20 year bargaining stocks, there will be more pressure going into year end. they are at covid lows. purchase low and sell highs the mantra we need to fall. stuart: all right. thanks very much. teachers in portland have gone on strike. lauren: a 20% pay hike, smaller classes and more resources. 4000 teachers on strike since wednesday. who knows what, i know they are sitting down with the union tomorrow, teachers contract expired in june. everybody is mad, the district already lost 3000 kids. people are mad to begin with, now the teachers want more, do i agree with them, yes.
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kids across the spectrum are in the same class, they need more help and that's a distraction for the teacher trying to get everyone on the same level but we have these industry striking get for higher pay. the average teacher salary in portland is $87,000. stuart: okay. in september, the orange county school district banned students from using cell phones, that included during breaks between classes. welcome back, erica. tell us how this experiment worked out. >> reporter: we are in a crisis in our education system, not just an academic crisis but mental health crisis and we had new school board members in orange county who followed hillsborough county in the tampa area illuminating the use
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of cell phones, and what they found in our schools that never allowed cell phone use during the day is there's less bullying going on, less cyber bullying, and more student engagement in academic and social aspects so a huge improvement thanks to new moms on the school board. stuart: the parents of some of the children, don't they object if they can reach kids in a time of emergency. it is inconvenient at the least, isn't it? >> it can be but one would think the students are safe and can access a phone at school but there's pushback from parents and students but there is also a lot of support from students who say the environment has improved but who loves this is teachers because it eliminates
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distraction, takes away the facilitation of children the goes on with these cell phones and when they have support from the top, school board all the way down for this policy it improves things overall and we need it with the amount of improvement we need to see in the academic system in america. stuart: the number of homeschooled children has increased by 50 one%. during that time, public school enrollment is down 4%. is there a way to measure the success of homeschooling. >> >> this is not your grandmother's homeschooling, they are not wearing bonnets and making their own clothes. parents were exposed, they like to know what their children are learning. there's access, high-quality teachers going into homes through the internet through
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virtual reality. and explosion, time will tell, they have outperformed in all types of schooling when it comes to college readiness. we will only see that drives their success. >> always love talking to you. southwest airlines has agreed to a tentative deal with flight attendants. what do they get in the deal? lauren: a raise that should be inflation, flight attendants getting a 36% cumulative pay increase. a 5-year contract that includes a 20% raise in january and 3% after. plus retroactive raises going
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to 2019. pilots, flight attendants and other airline workers have gone years without raises after the pandemic derail labor talks, flight attendants repeatedly complained about unpredictable schedules and assignments which was highlighted by the meltdown during last year's holiday travel period. flight attendants scheduled to stop voting on this in the next couple of weeks. stuart: what do you make of these demands are higher pay? >> long overdue, customer service reps got a raise in december, pilots are next, raises for years but inflation, this is the key. more money in people's pockets, they can tolerate higher prices log which keeps inflation higher. there -- we have to cut spending and decrease in demand, the last mile the fed has to close, that's the most difficult.
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stuart: elon musk blasted george soros for getting soft on crime das elected. >> he hates humanity. he's doing things that erode the fabric of civilization. stuart: we will show you what came next. the world's largest wind developed or scrapped its plans for two massive windfarms off the coast of new jersey despite one billion dollars in tax credits. we have a report on the green's failed agenda next. ♪
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stuart: check the automakers. the uaw just won their first local vote. they gave their full approval.
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a major offshore wind developer pulling the plug on two massive projects that would have been built off the coast of new jersey. madison alworth has the story. why was the windfarm scrapped? >> reporter: financially it no longer made sense, they cited higher interest rates and supply-chain issues. they said, quote, these factors have materially deteriorated the project's value to what does not align to financial targets. it is all about the money. this is coming after the company was set to receive major federal support and tax cuts. this july the danish, he was awarded an estimated $1 billion in tax credit after phil murphy, to keep federal tax credit that otherwise would have been required to pass along to utility rate payers.
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the customers and taxpayers, governor murphy argued the move was necessary to be interested in working in new jersey. now that it changed he's changing his tune saying, quote, today's decision to abandon its commitment is outrageous and calls into question the company's credibility and competence. the new jersey benefits are on top of the already existing benefits outline for offshore wind developers and the inflation reduction act. the provision gives a 30% tax credit to developers that begin construction on offshore wind with january 1, 2026. taxpayers bearing the burden of cost with companies pulling out, elected officials say financial incentives are all wrong. >> what the governor did was say that money doesn't go to the cost of the ratepayers.
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when the governor was asked, what the cost of this, they gave no estimate as to how much it would cost. blank checks are no way to run a government. e. >> reporter: with the cancellation of one and 2 in south jersey they are moving along the east coast. empire win the, miles offshore behind me. that is still moving forward but the reality, faced with those project is not unique to those two so all eyes are on these projects. we talk about thousands of wind turbines off the coast of the united states many of which are planning on that. stuart: thanks very much. do you think the green agenda is failing. >> they make about politics when it is about economics.
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the green agenda is normally associated with liberals and the left, being carbon who cares is the right but the number one state for solar installation in 2023 mother republican state of texas, where it makes economic sense. wind is not there yet. texas letter revolution in wind installations because it was economical going up to 2019, transitioning to solar because it makes the most sense. wind in the northern us doesn't make sense economically. the agenda is failing if economics don't work. stuart: king charles will attend the cop 28 climate summit in dubai. he's getting political, isn't he? ashley: the first line of my script is the politically
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impartial king charles. he will attend next month and deliver the opening address, the climate action summit. the british royal did not attend last year's climate summit in egypt but charles has been a longtime advocate for bolder steps to combat climate change. according to buckingham palace was invited to this summit by the president of the uae and the uk government, he just had to go. in addition to the speech is expected to have meetings, to meet with leaders. stuart: good imitation of a royal accent. you learn something every day. see you later. students walked out of hillary clinton's class at columbia university. we will tell you why and give you some details. five democrat mayors want
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president biden to help with the mightn't crisis but don't want to close the border, they just want the money. how does that fixed the problem? next. he hits his mark —center stage—and is crushed by a baby grand piano. you're replacing me? customize and save with liberty bibberty. he doesn't even have a mustache. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ this is american infrastructure. megawatts of power, rails and open road, and essential services of every kind. all running on countless invisible networks, making it a prime target for cyberattacks.
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stuart: i'm sorry. i did not realize i was on which i was about to send a message on my iphone. i got caught. moving swiftly. something goes wrong in television you smile. there are 7,000 migrants in the caravan headed towards the southern border. casey steagall is in texas. border agents are overwhelmed. how are they preparing for the latest surge? >> when news of one of these caravans surfaces, border patrol and other agencies typically surge resources for areas where migrants cross and the organizer of the caravan traveling through mexico, an additional one thousand people joined the group earlier this week, it's estimated to be
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roughly 7000 in size. mexican authorities say it's more like 3500. they recently passed through southern mexico, near the border of guatemala. as we await numbers for the month of october. we know we are close to 270,000 reported for september. a new all-time high for the agency pushing the total for fiscal year 2,023 to close to 2.5 million which was. -- does not include the 600,000 known got aways dhs reported for the year. >> you see this influx across the border you realize how difficult it is to sort out the biggest threats and who are crossing the line. >> a new danger, texas dps, trooper from florida trading
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unresponsive migrant child suffering hypothermia after crossing the rio grande river in near freezing temperatures. border patrol posting this image on social media after agents rescued a mother and her two children who illegally entered the us through the northern border stranded in the north dakota snow. a reminder of how dangerous the germany to this country can be for migrants. stuart: four democrat mayors heading to dc to ask president biden for funding to the with the migrant crisis. these mayors just want money. why not push to close the border. >> they are asking upwards of $5 billion, not what the administration is asking congress for. if you look at what they are
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requesting, it is more money to process these illegal aliens, they should be asking the administration to solve the crisis along the border, stop individuals from coming into the country and that will solve their individual crisis in their communities and cities. stuart: why don't you think the administration will do that? it's a problem for the democrats, why don't they? >> reporter: they could take this action. it is achievable. they don't agree with border enforcement. that is what it comes down to. they want to see the border open, whether you have a legal reason or not and they think it is a dirty word, that shouldn't be done yet that is what the law requires us to do.
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there's philosophical differences to enforce border security, national sovereignty and we are seeing what the left believes in. stuart: we know 172 people on a terror watch list were apprehended in the last year but also 600,000 known got aways. you use to run dhs. do we have any insights, any intelligence into the terrorists on that? >> on the ones we apprehend, dhs normally will interview these individuals, talk to them and understand where they are coming from, how they got there, the route they took so you want to glean a lot of law enforcement information. the problem is the 600,000 in the last fiscal year, close to 2 million over the course of the biden administration we know nothing about. we don't know who they are or
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where they are or what they are doing now inside the united states and that's problematic and why we need more agents apprehending individuals versus what they are doing today which is sitting in their stations processing illegal aliens because of the policies of this administration so it is all tied together. you can't do one without changing the policies of the other. it's important to change strategies along the border. stuart: but nothing seems to happen. see you again soon. elon musk and weighed in on the massive caravan. lauren: he called the scale of illegal immigration staggering. he was replying to a tweet that showed the caravan originally 5000 strong, now over 7000 strong making its way up and that tweet called it an invasion. stuart: that would be my opinion it is invasion. thanks for sticking around.
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plus the rampant anti-semitism we are seeing has expose the true nature of american liberalism. it is not peace, love, and humanity, it is hate, that's "my take," the top of the next hour. (♪) we're lucky to have this team working for us. our therapists give their all each day, by helping those who need it most. we take great pride not just in the job our team does, but in them as people. our people. and while we're in the business of taking care of others... it's important our therapists know that with benefits from principal, they're taken care of too. (♪)
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israel is under attack and jewish families are in danger. israel's enemies seek our destruction.
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the people of israel need immediate help. rockets have us squarely in the crosshairs. our people are targets in their own homes. many have lost everything and fear for their lives. the international fellowship of christians and jews has launched an urgent response to rescue those affected by this violent attack. our teams are on the ground across israel delivering lifesaving aid. your urgently needed gift of only $45 will help rush food, water, medicine and emergency supplies for jewish families that have nowhere to turn. time is literally running out. what we need you to do is to act now.

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