tv Maria Bartiromos Wall Street FOX Business November 4, 2023 10:00am-10:30am EDT
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grower that can grow the bottom line at a double digits and getting it at an average multiple. jack: and instagram is the only service where i think the ads actually apply to me. a scary good job, to tell the the truth. >> i'm going to go with serapta, the success las blown up before, and it has a way of coming back. there are booms and busts, and you don't want the buy the booms, but when it busts, that's a good time to consider buying. jack: we like to root for their success. >> we do. jack: thanks, guys. great ideas from all of you. to read more of these, check out this week's edition of barrons.com. don't exert to follow us on x, and that's all for us. see you next week on "barron's roundtable." ♪ ♪ >> from the fox studios in new york city, this is maria bartiromo's "wall street."
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maria: and happy weekend to the all. welcome to the program that analyzes the week with that was and helps position you for the week ahead. i'm maria bartiromo. secretary of state antony blinken back in israel meeting with the prime minister and president there as our president calls for a pause in the fighting. here at home the house has passed a $14 billion stand-alone aid package for israel that cuts money from president biden's $80 billion irs budget. in the hours leading up to thursday's vote, the administration was reportedly calling jewish congressmen, urging them to vote no to the a package. but 12 democrats actually voted with republicans on the bill that did not include money for ukraine or $1000 billion in supplemental $1000 billion -- 100 billion that the president wanted. the president and chuck schumer are vowing to kill this bill with schumer saying the senate will not take up the house's deeply flawed proposal. joining me thousand from the house armed services and foreign affairs committee, congressman
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michael waltz, also a former army green beret. congressman, it's t good to see you weekend. thank you for being here. >> yeah, thanks, maria. good with to be with you. martha: -- maria: what about this stand-alone aid package? where is this going? >> well, there's with two issues here, right? there is whether we should bundle it all together, which i think we should not because really what's at issue here, maria, the it's not about money. washington loves to just throw money at a problem. it's about bad policy and whether it's on the border, whether it has to do with iran or whether it has to do with ukraine, it's bad strategy and bad policy, and we should be debating all of those separately. and then secondly is how do you pay for it. and house republicans have been clear, we are not just going to continue to throw hundreds of billions of dollars onto the national debt, onto future generations. and whether it is aid for israel
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or whether it is other issues, we have to pay for it. and between all of the money this administration has wasted from green new deal subsidies to the bloated irs budget, there are plenty of places to cut to pay for this aid. and so -- maria: yeah. >> -- why is the media assuming that we should have to react to the what schumer says? schumer needs to react to what house republicans send to them. the constitution is clear, these monetary packages start in the house. maria: yeah. i mean, i think that he's going to be sending all those irs agents out to insure that he investigates every transaction over $600 for the average guy and gal out there. we're watching that, for sure. but the house also voted on a bill condemning anti-semitism on college campuses. more than 20 the democrats voted against that resolution. you'll have to explain this one to me as open hatred of jews is
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surging across the country with anti-semitic incidents up 400% since the october 7th attack, congressman. >> well, it's disgusting, it's wrong. i don't know why any parent wants to load their kids up with hundreds of thousands of debt to go get a degree that doesn't prepare them for the work force and then get taught this garbage on their, on their college campuses. it's justly ridiculous, and i cannot believe that was nonnot a unanimous vote. but it is showing, i think, a lot of people whether in the ivy leagues, media or individual members of congress, it's showing their true colors. and we're going. to continue to put a spotlight on it and expose it. maria: by the way, the tone is set from the top, isn't it? as the anti-semitic incidents are spiking across the country, what does the white house do? it comes out with this: the development the of the nation's first national strategy to
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counter islamophobia. really? >> yeah. and you have at the same time, you have the director of the fbi testifying that 60% of hate crimes are directed at one group, jewish people. yet the administration is going to the just blatantly and obviously pander to its progressive left with an islamophobia strategy. it's just ridiculous on the face of it and, frankly, the spokesperson is ridiculous on the face of it. here you have the border czar with the border out of control, yet she's going to the ignore that duty where she's doning nothing and shift -- done nothing and shift to this new strategy? i think the american people see right through it. maria: wow. yeah, joe biden puts kamala harris in charge of that, that is just incredible. meanwhile, in the aftermath of the hamas attack against israel, the threat of terrorists slipping into the country, into america through the southern border, is now on the rise. people are worried that we're going to see an attack here as a
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massive migrant caravan with more than 7,000 people on it is headed straight for the southern border right now, as we speak. one of the caravan organizers is speaking out accusing latin american countries of conspiring to fuel the out of control immigration crisis. watch this. >> joe biden has lost the ball, has lost the power, and america has in the been paying attention what's happening. mexico is being used, ganging up with all the countries to make sure all immigration goes straight into the united states, and that's what it is. i'm completely stunned. how can come -- where is the american intelligencesome don't they know all the countries are conspiring against the united states to headache sure they have this crisis is -- to make sure they have this crisis? maria: what about that congressman? you're on all these committees, you get the briefings, where's the intelligence and are we
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actually watching terrorists slipping into the country setting up terrorist cells right now? >> well,ing we are, maria. and the fbi director just this past week was very clear about that. he is, the alarm bells are ringing. the lights are blinking red. under president trump we had a total of 11 people on the terrorist watch list get apprehended over 4 years. just in the last year, we've had 160. you were president trump we had the same -- under president trump we had the same president of mexico put his national guard on his southern border ask and stop these flows. now under president biden we have mexico aiding and abetting 2 million people per year that we know about flowing across mexico and into our southern border: so just do the math. and then finally, the irgc with iran has a long history of working with the mexican cartels
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and international criminal groups to infiltrate people into the united states. and and look at the record. maria: yeah. >> we had one try to bomb restaurants in d.c., we had others conducting reconnaissance on critical infrastructure. thankfully, they were caught, but it's a matter of time before one gets through. maria: well, i think you make such a good point. and when you're talking about iran and the irgc as you just mentioned working with the cartels, this administration has been very hard-pressed to connect the dots to iran. i know you've got legislation regarding this. why is it so hard the connect the dots to the iran which we all mow is the largest -- know is the the largest sponsor of terrorism? >> because, maria, this administration would have to admit that they were wrong. they were horribly wrong. and americans and israelis are dead because of it. all roads lead back to iran. israel will deal with hamas in
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gaza, they will do everything they can to deter hezbollah, but at the end of the day as long as iran is flush with cash, we will be mowing the grass, and it will you right back. sadly and unfortunately. so until secretary blinkenning the president of the united states announce a 18 # # # on our iran policy, and i now have legislation to force them to do so, stop waivers on the sanctions, cut off the cash, and at the end of the day, again urn president trump, the metric that i watched was all of these militia groups were complaining that they didn't have any money obey hair fighters and to buy -- to pay their fighters and buy weapons. maria: that's right. they said they were broke. >> we have to impose costs on iran itself. maria: we were also at a 20-year low in the terms of border apprehensions under the trump administration. and, of course, now we're at a 40-year high. congressman, thank you. we appreciate your work. we'll be watching all of that. >> thanks, maria. maria: congressman michael waltz.
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meanwhile, much few ther jobs added to the economy in the month of october than expected. steve forbes and david bahnsen break down the report and what it means for your money, the chase ink business premier card is made for people like sam, who make- everyday products, designed smarter. like a smart coffee grinder, that orders fresh beans for you. oh, genius! for more breakthroughs like that- i need a breakthrough card. like ours! with 2.5% cash back on purchases of $5,000 or more. plus unlimited 2% cash back on all other purchases. and with greater spending potential, sam can keep making smart ideas- a brilliant reality! the ink business premier card from chase for business. make more of what's yours.
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instead of dried pellets. just food made for the health of dogs. delivered in packs portioned for your dog. it's amazing what real food can do. maria: welcome back. a big week on wall street after the federal reserve left interest rates unchanged fuel ifing hopes that the fed is done raising interest rates. that sent stocks higher and tanked bond yields. we also got a weaker than expected jobs report on friday, 150,000 jobs added to the economy in the month of october, 180,000 were expected. the unemployment rate ticked higher to 3.9%. the number of jobs added for both august and september was revised lower by 101,000 jobs as welch joining me right now to talk about that is "forbes" media a chairman steve forbes and bahnsen group founder and managing partner david bahnsen. gentlemen, thank you so much for being here. let me kick it off with you,
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steve forbes. give us your assessment of that jobs report on friday, and did the fed make the right move by taking another pause? >> it certainly took the pause, and they're, i think the end of the fed doing that is now at hand. no more interest rate rises. as a matter of fact, they should be taking their foot off the neck of the economy. that jobs report, as you anticipated, was a disappointment. not only the downward revision, but the growing gap between the so-called household survey and the survey in terms of establishments. the establishment survey has always been higher, i think, than the real economy. household gets to what's happening really more to small businesses. last month that household survey was very disappointing. this month it went negative. so that's a sign the labor market is turning, and so the federal reserve, back off. you're already too late as usual. maria: yeah. i mean, the household survey was a concern. the other concern, david, was the fact that we had that revision for august and september indicating way fewer
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jobs than we thought just a month ago. assess that and just explain to the us why a weakening economy has actually not been a problem for the markets. we're looking at a gain here today even with a bad october. >> well, basically the whole week the market's up over 1,000 points, and i think that the issue at hand is bond yields. and people need to understand that the long bond yield is supposed to be measuring expectations for nominal growth. and that gets distorted in a period of high inflation and starts pricing in concerns about inflation. that's largely gone away. inflation expectations are very, very low right now. and yet we didn't get a recession. people started thinking there would be higher growth, bond yields moved higher, and all of this is with the with the fed distorting everything, making it very difficult for money managers like me to the see clearly the signals and price discovery in the market. but, maria, this idea that the
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fed wanted to hurt the labor market in order to help inflation, this phillips curve mentality, is the worst thing about present monetary policy. steve's exactly right, they have to take their foot off the neck. they've been too tight, too long, and they exacerbate with a boom-bust cycle with this silliness. maria: yeah. you both agree on that, and i know this is a major issue. look, you just said inflation is not a worry anymore. steve, i know we're way down from the highs on the headline number of inflation, but this week we were looking at a story of a big mac costing $18, okay? a big mac, $18. cereal, $9. so, i mean, the essentials like food, fuel and is rent, shelter, are still pretty elevated even with this number coming way off of the highs. >> that's right. imagine paying those $18 for a big mac meal. i remember when they were around $3 or 4. maria: exactly. >> that was just a few years ago, you could get that. so, yes, the inflation is still
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there. part of it is the government regulations are artificially raising costs and the federal reserve not realizing the way you fight inflation is to stabilize the value of the dollar. as david said about this phillips curve, that you have to have high unemployment to bring inflation down, is nonsense it'll bring inflation down when the economy goes down. we should have learned prosecute '70s that's not what you do. in the '80s, rah reagan got it right. stable dollar, great things happen. maria: yeah. he doesn't want any money taken out of his i are irs budget, the president, because he wants to find more money for taxes or raise taxes. david, how do i invest in this environment? i know you've been a dividend payer lover. you like those large quality names. did anything change in the face of all of this mixed economic data? how do you want to be invested going into year end? >> i think that people have got to be focused on quality and dividend growth offers a certain quality with. in order for a company to continue paying and growing a
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dividend quarter after quarter, year after year, he was to have a stable balance sheet, they have to have less debt. you cannot get these high pe, high growth stocks that are very speculative and expect to come out okay in a period of economic volatility. that's where we are right now. bond yields going up and down, questions about the recession. i can't encourage people enough to look for cash flow. there are really strong, not overpriced companies paying great growing dividends, and i think it makes all the sense in the world right now, maria. maria: steve the, you agree with that? >> is absolutely. it's nice to get cash in holding a stock the, and the thing is if it's a good company, even in tush the lent times eventually those -- tush the lent times the capital gains go up. that's not true of bonds. maria: all right. we will leave it there. steve forbes, david ban accept, thank you so much, gentlemen. we appreciate your time. coming up, taking colleges to court. jewish students are are holding
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[background sounds] [inaudible conversations] >> resistance is justified! >> why do you think this is acceptable? these people are kidnapped. >> do you feel safe at columbia university, i say, no. >> i don't want to be scared, shouldn't be scared. should keep on going about our way of life, but sometimes i -- the yeah, i'm looking around a lot more now. maria: fear and anxiety for jewish students on college campuses across the country as they face anti-semitic harassment, bullying, even death
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threats. now some jewish students at cornell, harvard, nyu, mit, stanford, uc-berkeley and others are preparing to take their colleges the court for not doing enough to protect them. joining me right now is the attorney representing these students in upcoming lawsuits, mark resler. hark, thanks very much for being here. >> thanks for having me, or maria. maria: can you tell me about these lawsuits? >> absolutely, maria. there has been a spate of horrible incidents against jewish students at the schools that you just mentioned, and we're going to use title vi of the civil rights act of 1964 to force universities, what they should have been doing for years now; namely, complying with the law and eliminate the hostile educational environment they permitted to fester and grow on campus. maria: so how did it grow on campus so much? is it because no one was paying attention and doing anything
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about it? >> that's precisely right. the legal term, maria, is deliberate indifference. and we're going to show in these lawsuits that these universities, some of our most elite schools, acted with with deliberate indifference knowing full well the state of hatred and bigotry directed towards jewish students. that they twiddled their thumbs instead of doing what they're required to do under the law; namely, eliminate the hostile educational environment, stop the harassment and insure that it doesn't rechurch -- recur. maria: what do you want to say to the acl insurance company because in an open letter, the aclu is telling more than 6 a 520 the u.s -- 650 u.s. college and university presidents to, quote, reject calls to investigate or disband or penalize student groups on the basis of their exercise of free speech rights, mark. >> it's profoundly distressing that an organization like aclu would take that position.
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look, this is not a free speech issue, although we certainly anticipate that the schools will use that as a defense. when students are faced by other students with attacks like hitler was right, that's not a free speech issue. that's pure uncult rated hatred -- unadulterated hatred and bigotry. this is about protecting students from discrimination, harassment and insuring their physical safety. you know, these schools, despite their gigantic endowments, get hundreds of millions of dollars in taxpayer money. title vi of the 1964 civil rights act says if you get federal funds, then you have to comply with federal law, and that's what we're going to seek to do in these lawsuits. maria: mark, we're going to be watching how successful you are. who hears these lawsuits, and what is the timing on this? >> we're going to be filing
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these cases in federal court because we're proceeding under the federal statute. and stay tuned, we're going to be filing these lawsuits in the coming weeks and the coming months. it's an evolving situation because on a daily basis we're getting more students from different schools asking us to the help protect them. maria: what a terrible shame. mark, thank you for your leadership on this. we'll be watching. >> thanks for having me. maria: mark ressler joining us. i've got one important thing you need to know about ahead of next week, and th (adventurous music) ♪ ♪ ♪ be ready for any market with a liquid etf. get in and out with dia.
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tactic to try to turn the stock around. it's down better than 70% this year. amc is also betting big on beyonce is. tickets to her new documentary, renaissance, go on sale thursday. and follow the mega-star on her latest world tour. we'll bring you all the updates on "mornings with maria, "join me weekdays, 6-9 a.m. on fox business. and i'll see you 10 a.m. sunday morning live on the fox news channel for "sunday morning futures," house oversight committee chairman james comer, senatoron ron johnson, admiral michael mullen and dr. ben carson all live, sunday on fox news. that'll do it for us here on fox business. thanks so much for watching. we'll see you again next time. have a great rests of the weekend. ♪ ♪
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