tv Varney Company FOX Business November 8, 2023 10:00am-11:00am EST
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stuart: i love it. the bonnie raitt version is. good strong. -- good song. let's get to money. dow's up 80, nasdaq is up 21, 22 points. look at the 10-year treasury yield, it's still well below 4.6%, you're back to 4.55 as we speak. and oil, which came down sharply yesterday, staying down and going a bit lower. you're looking at $76 a barrel for crude oil as of now. that's the markets. thousand this. now this. seventeen months ago the supreme court turned the abortion issue over voters. well, the voters have spoken again. in the midterms of 2022 and the elections yesterday, abortion proved on a were any immediate
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presidential ambitions he may haved had. tonight the third republican debate, and abortion will figure prominently. ron desantis wants a ban after a 6 weeks, he's kind of talked that back a little bit. nikki haley opposes abortion, but she doesn't want to vilify women or the doctors who perform them. will they, can they change their positions to conform to the new abortion reality? that would be tough. and then there's 2024. after all the terrible polling numbers biden received this week, there may be a sigh of relief. in yesterday's elections, abortion beat crime, the border, inflation, school choice and the war. the democrats' position and presumably biden's too is unrestricted access. that now looks on a plus.
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trump has warned republicans not to lock themselves into positions that are unpopular with the majority of voters. that now seems to be politically smart. but next year there are 33 senate races and 435 house races. in every single one of those elections, expect the democrats to run hard on abortion rights. at this point, it is their only winning issue. second hour of "very isny" just getting -- varney just getting started. ♪ muck flub r ever or. ♪ ♪ stuart: liz peek with us this wednesday morning. if the democrats won on a abortion yesterday, what should republicans do now? >> they have to have a serious rebranding on this issue, stuart. you really put it very well in your lead-in. this is the issue. i mean, it trumps everything, excuse the expression, and it's amazing to me -- this was, this election was not a referendum on biden, not a referendum on fact that we have an open border and
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all this crime taking place in our blue cities. i mean, there's so many issues, and this is one hinge that bad -- one thing bad news for republicans. it isn't just the democrats' win on issue, it drives turnout. particularly with young voters. voters who are, you know, generally speaking, democrat-leaning but often unreliable. but this makes them reliable voters. that's a big change in, you know, today versus past elections. people will read the kentucky race, i think, as a referendum on trump to some degree. he did endorse the lieutenant governor, cameron, who lost to the beshear. i think that's a mistake. i think beshear was a very popular governor. he can't run on a solid democrat platform. he's been a real centrist in terms of managing the state and, by the way, remember a year ago appeared with mitch mcconnell to tout a lot of infrastructure money that was going to be coming after they passed that bill from the senate and the president into the state of
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kentucky. is so i think that was a sort of one-off a race. i don't really read that as a referendum on anything. but it was a kiss appointment in virginia. i -- disappointment in virginia. i think that is a place where we had a very moderate republican, a very popular republican, glenn youngkin, and there were backers lining up outside the door to endorse him for president if this had gone right, and it didn't. why is that? because they were, democrats have been very successful in branding republicans on extremists on abortion. they are the extremists on abortion. almost no one in the country agrees with what they now have in new york and which has become their sort of party mantra, abortion available up til nine months. no one thinks that is appropriate except democrats. and republicans have got to become the common sense party, the majority party by touting policies that really appeal to the majority of the country. stuart: they do. >> yeah. stuart: what do the election results of yesterday mean for
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donald trump? >> i don't think it really says much about donald trump, nor does it about biden. i think it was really much her about local issues and is about abortion. so i wrote several months ago that trump could be the person that leads the gop out of this valley of downward-spiraling depth on abortion by talking practically about what makes sense. if i were frump, i would say, look -- trump, i would say, look, the voters have spoken in ohio, in kansas, vermont, every state these to have a referendum on abortion, and that is the settled law. this is where i think ron desantis made a huge mistake. six-week banker why didn't he say i'm going to put a referendum on the ballot? the voters must decide. republicans are the democratic party in the sense that we do believe in the majority vote. not taking a progressive 10% of the country and determining policy that way. so, you know, i think we have to really kind of go back to, back to the draw doing board.
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stuart: yeah. it's a sea change in american politics. >> yeah. stuart: maybe i'm going a bit far there, but that's the way i see it. >> i agree. stuart: thanks very much, indeed. let's see how much green we've got on your screen. the dow up 40, the s&p is up. 2. we've lost the rally in the nasdaq almost completely, it's gone. david industry due key joins he now. i know you're a bear, but you brought us three stocks that you think will do well this year. let's start with conocophillips. make your case there. >> yes, sir. so, you know, there's record global demand going on right now for oil even though we're seeing a lot of green, you know, conversations going on right now. so we've got, you know, limited supply right now, also with the new saudi-russia relationship they're looking at reducing the amount of barrels that they're ruing per day. they've shared, like, 2 million barrels daily. so if we have, you know, or lower supply, demand sill stays high even if we get into a more
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recessionary time frame, companies like the are going to be profitable even if they're producing less. why? because the per-barrel price would be much higher and, therefore, the profit is better. so we've also drained the strategic petroleum reserve and, you know, we need to fill that back up as a these salt camps are actually beginning to collapse. stuart: okay, okay, let me move on. >> yes, sir. stuart: second stock you like, costco. >> yes, sir. you know, there's a lot of challenges taking place right now in our society, and one of the ways that costco deals with shrinkage or theft is that they have membership days. they're double checking your receipt before you're walking out the door. so heir also paying a dividend, but i think a lot of people are going to be turning towards costco because this is your upper middle class. this is where the money still is as far as consumers who still have cash, so i think cost costco's going to do great going forward. stuart: last one, the third company, southern copper. >> yeah. so, you know, if you want to go green, you've got to go red, you
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know? each ev takes 85 pounds of copper in order to be able to produce that electric streak. our critical infrastructure, our electric grid, needs a lot of copper as well. this particular organization also has lead, zinc, critical metals like silver and gold as well. stuart: tell me quickly why bitcoin and etherium are rallying. >> okay. so is, you know, there's a lot of change that's taking place in money right now, if you will, so places like jpmorgan and blackrock are coming up with etf, settling services, etc., at a time when people are beginning to question the u.s. dollar. they're questioning how to do basic trading. and so, you know, bitcoin and etherium kind of represent this future, you know? it was digital first and now money can get involved where we had paper money previously that's trying to go digital with the swift system, you know, there's a lot of players right now around the world that need a safer network and way of doing
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things. jpmorgan brings this to the table, blackrock brings this to the table, it's going to find more first-time buyers here, and i think they're going to be probably strong into the end of the year and even into the following years because of the scarcity very specifically with bitcoin. stuart: david, thank you very much, indeed. good stuff. let's move on to the movers, as we like to say. lucid? lauren: they're at a new low low. hay cut their full-year production forecast for their expensive luxury vehicles at a time rivian and tesla are increasing production expectations. and then you have elon musk taking jab withs at lucid. remember how we were saying rivian loses $31,000 per ev that it produces or delivers? guess what the number is for lucid? stuart: a loot. lauren: 432,000. i don't know how that's possible. st downright awful. stuart: upstart. what a do they do? lauren: they use artificial
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intelligence to determine loan eligibility. and they are down by 24%. they reported a loss, and they said their total action of loans made mt. third quarter fell by a third -- in the third quarter fell by a third, even seeing weakness among the prime borrowers. stuart: warby parker -- lauren: the eye glass people. they're setting up many new stores, many different price points. great report card. why is the stock down 116%? they're doing better -- 16%? if they're doing better in contact lens sales. they carry smaller margins. that is the only thing i can think of, because this was a decent report. tieu stuart that's a selloff and a half. the share of debt held by people under 50 just hit the highest on record. how much are we talking? >> 9.5 trillion. for those under the age of 50. stuart: what kind of debt? lauren: americans hold 55 of total household -- 55% of total household debt. why under 50? these are the people who have
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mortgages, who are paying back their student loans, who have credit cards. if you just look at credit cards, that debt also topped a record in the third quarter of $1.08 trillion. so the apr on that debt, on those balances, it's above 20%. this is a terrible -- like, what is going on? i call it the yolo moment on main street. you only live once. we can't aafford what we're buying, but we only live once, so we keep swiping the plastic, and that's how we get by, how we do things. and now, unfortunately, because rates are so high we're seeing more americans fall delinquent on their payments. stuart: the yolo view of consumer spending. lauren: we're resilient, apparently, based on all these companies that are showing their pricing power. when you get retail sales reports and gdp, so far the consumer has been resill cent. how? stuart: i can't answer that question right now. [laughter] now this, education secretary miguel car done that says federal funding will be stripped
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from universities if they don't tackle anti-semitism and islamophobia. stripping them of funding, is that the answer? ivy league universities like cornell and harvard reportedly got billions of dollars in funding from arab countries over the year. lydia hu has that full story after this. ♪ ( ♪ ) we're in the security business... our job is to help people feel safe. not only our customers but those who matter most to them. just like our company does for us. we have great benefits from principal. so i know i'm taken care of. and (pause) not just me. but the ones who matter most to me. ( ♪ )
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the universities are not managing the hateful relate kick on campus. and in some case, look, i mean, it's the university's own courses and their own professors that are fueling this. it really shocked me, because i went to schools that were predominantly jewish, and i would never have said that two decades ago. and now those jewish students live in fear on these campuses. 1 in 10 in this survey said the schools weren't doing enough -- were doing enough to deal with pro-hamas support that's infiltrate thing higher education in the classroom and on the campus. stuart: dominates it actually. that's the way it is. thanks, lauren. now, some of the country's top universities are reportedly getting billions of collars from arab sources. lydia hu with us. how much money are we talking about, and where exactly is this money going? >> reporter: we're talking billions, around least $85 billion accept -- 8.5 billion over a 35-year period between 1986-2021. that's according to a report from the american israeli
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cooperative enterprise. in this report said that the country of origin for most of that money, qatar, responsible for $4.3 billion in donations. also topping the list here, you can see saudi arabia with responsible for a billion dollars. we also saw uae responsible for a billion as well. the top recipient of arab money when we turn to colleges, stuart, is cornell having taken in more than $1.5 billion over 35 years. georgetown also topping that list, $748 million. you can see it here. now, stuart, i spoke with former education secretary betsy devos this morning. she says that it's much more likely that foreign money is flowing into american colleges and universities undetect thed because universities have traditionally not complied with laws that are mandating disclosure. listen to her. >> that was really the tip of the iceberg. you know, these colleges are supposed to report quarterly any kind of inflow of funds from a
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foreign source. this is not a hard thing to do, and yet institutions routinely are not reporting, you know, this inflew of -- inflow of funds. >> reporter: we also have a new report from the network contagion research institute. it evaluated the correlation between acceptance of foreign money and campus anti-semitism, stuart. they write this: a massive influx in foreign concealed donations, much of it from authoritarian regimes with notable support from middle eastern sources, reflects or supports heighten. ened levels of intolerance towards jews, open inquiry and free expression. stuart, this report found that schools accepting money from middle eastern donors had on average 300% more anti-semitic incidents than schools that did not. stuart: that tells the story. good story too. thanks, ya. the education secretary, miguel cardona, warned schools
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they could hughes federal funding if they -- lose federal funding if they don't fight anti-semitism on campus. sam markstein joins he now. is cutting federal funding to these schools a good idea? >> good morning, stu. yes, it is a good idea. and just to put it many context, this week marks one month since the the horrific hamas terrorist attacks in the israel, but it also marks the 85th anniversary of the night of broken glass which was a precursor to the holocaust in europe. so it's really important that folks understand this is not something that's new. it always starts with word and ends up with action. and, unfortunately, jewish students don't feel safe on college campuses. and jewish students deserve to feel safe and protected on college campuses, full stop. and unfortunately, universities, certain universities, presidents, administrators, professors have not met the moral clarity moment to con
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front the scourge of anti-semitism and make those students feel safe. and the adl just this past week, they announced a report that said there's been a 4000% spike in -- 400% spike in vandalism, harassment and assault mt. community at large in the united states. stuart: okay. to give moral clarity, what should the university authorities be saying? >> they should be saying we unequivocally and unapologetically condemn hamas terrorism. we stand with israel. we stand with the jewish community. we -- i think, actually, a good example was president sass down here in florida had a really good letter that he put out talking about the moral equivalency that some people like to play on this, there is no moral equivalency between hamas terrorists and israel defending itself. stuart: you've got to make sure you've got free speech, however, but not threatening speech. have to draw the line somewhere. >> tree speech is definitely important -- free speech is definitely important, and and we're all in favor of the first
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amendment and free speech. folks are certainly entitled to make fools of themselves on college campuses by parroting talking points, but we also verve the right to hold them accountable -- reserve the right to hold them accountable as well. stuart: the republican jewish political coalition is one of the organizations hosting the third gop primary debate which is tonight. what's your role in tonight's debate? not you personally, but your organization. >> so we're very honored and privileged to be partnering with the rnc for tonight's gop presidential debate here in miami, florida. the rnc, led by chairwoman mcdaniel, has done a tremendous job of elevating jewish voices at this perilous time for the community and for israel, and they're standing shoulder to shoulder with us during these times. shows you that the republican party really is the true friend of the jewish community and israel, and it's a testament to the commitment to standing shoulder to shoulder with us as the days get harder and messier and bloodier over there. it's really important that you
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have, that this continues. stuart: got it. sam markstein, thanks very much for being with us this morning. we appreciate it. >> thanks, stuart. stuart: thousand this, chaos at a city council meeting in chicago. residents very concerned over the city's sanctuary status. watch this. [inaudible conversations] >> i believe that we should remain a sanctuary city. honest thanksgiving. >> no! [inaudible conversations] stuart: retired acting i.c.e. director tom homan takes on the sanctuary showdown coming up. with we toll you how texas seized control of an island along thedown border -- southern border that was heavily used by mexican cartels. our star reporter, bill melugin, is live on the island with the latest report. he's next. ♪
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stuart: on the markets this morning, we're about an hour into the trading session. dow up 50, nasdaq down 20. not much movement. lauren's got the mover, and we'll start with warper brothers. lauren: they're down 15.5%. they lost 700,000 streaming subscribers in the quarter, and the ceo, david zaslav, says the media industry is going through a, quote, generational disruption with the streaming service that is losing billions
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of dollars. stuart: down 15%? lauren: that spooks disney if ahead of today. stuart: i'll bet. virgin galactic. lauren: there are reports they're cutting jobs. the ceo says they're having a hard time getting capital because of high interest rates, and they need that money to invest in this new fleet of spaceships called delta that are supposed to fly weekly with six people per flight. they also report tonight. we should know more, but the stock, even though it's a dollar stock, it's down -- stuart: that's space tourism. lauren: basically. stuart: take two interactive. lauren: they too report after the bell, but reportedly they're releasing their newest edition of grand theft auto as early as this week. last one, the fifth edition, was the best selling video game of all time. take two up 6% -- stuart: they do grand theft auto, i didn't know that. lauren: you forgot. stuart: thank you, lauren. outraged residents in chicago making it clear they don't want to be considered a sanctuary city anymore.
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roll tape. [inaudible conversations] >> -- believe that we should remain a sanctuary city. >> no! [inaudible conversations] stuart: we have the ideal guest to the address this situation. his name is tom homan, and he knows a lot about the border. my question is, tom, if hay kid take away sanctuary r -- if they did take away sanctuary city status, what would that a mean? >> first of all, the city would be a lot safer because every illegal alien in chicago that commitments a crime right now gets released back into the community to reoffend against an immigrant community. so this will allow i.c.e. to go into the cook county jail and those who are in the country illegally, put a detainer on them, and arrest them and report them. remove them from the country. stuart: so at the moment, they are a sanctuary city so i.c.e. can't go get 'em. >> no. think about this, the local law enforcement locks them in a jail cell because they're obviously a public safety threat, and that's
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why they lock hem up. and i.c.e. don't, can't get access to the jail or talk to the person even though he's in the country illegally and, again, remove him from the community and the country so he can't reoffend. and the second thing this does, it allows more resources for the local community. of i've been contacted by two separate pastors with the black community who are outraged that they've paying millions of dollars to the house illegal aliens, giving them three square meals a day and medical -- the. stuart: $40 million a month, that's a lot of money. >> meanwhile, homeless vet ises on the streets of chicago, or they're not getting any help. stuart: 7,000-strong caravan heading wards the southern border, what happens when they arrive? >> catch and release. they'll be caught, processed, flown to the city of their choice at taxpayer expense and get work authorization while they fight their case. no consequences for crossing the border illegally. under the trump administration, they were detained or removed, this was no catch and release.
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there's no downside. they're going to keep coming to the greatest nation on earth. stuart: they can go anywhere they like? >> yeah. stuart: i want to go to seattle, new york. >> exactly. they get to choose where they go, can and we're going to fly them there on the taxpayer climb. -- dime. then we put them in a hotel here in new york city, three squares a day, medical attention, transportation, they'll even get help, money, from the city of new york to fight their immigration case. they'll get money to fight the government on the deportation proceedings. stuart: i've got to move on from this because my head's exploding. last one. republicans have linked border funding with more aid for ukraine and for israel. do you think it's good to lump them all out? >> absolutely. whatever it gets to get the democrats to take care of the border situation. they want ukraine funding. they're more concerned about the border of ukraine than they are about our southern border which is a huge national security crisis. we know we've got 1.7 million gotaways, we know that over 200
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people have been arrested on the terror watch list. soif this forces democrats to come to the table, then i'm all for it. this is not a money issue, it's not a funding issue, this is a policy issue. what the republicans in the house want is a policy change because this is a policy problem, not a funding issue. stuart: but the democrats are taking an enormous political risk. if there is a terrorist incident in the united states linked to the an illegal border crosser and they opened the border, the political consequences for the democrats are extraordinary. they're taking huge risks. >> i've been screaming about this two years. the biggest concern i have on the southern border is the national security crisis. why did 1.7 million people choose not to take advantage of the giveaway program? turn themselves in, get released, get flown to the city of your choice and get money to fight your case. why did 1.7 million people pay more to get away? because they don't want to be vetted, fingerprinted. this should scare the hell out of every american. stuart: what a situation.
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tom homan, thank you very much, indeed. we'll see you again soon, you got it. house republicans demanding that secretary pete buttigieg address the migrants being housed inside airports. all right, ashley, what do they want him to do? ashley: well, stop housing migrants at airports, simply put. dozens of house republicans have written to to buttigieg to come up with alternative plans, but it should be pointed out even though the d. of homeland security is recommending airports as a viable option including hose in the new york area. those in the new york area. republicans say the country's airport infrastructure was actually built to facilitate commerce and transportation, not to service housing for unvetted and undocumented migrants. the lawmakers also a concerned, of course, about the security risks that are posed by these migrants. they also want to know to what extent the faa has been consulted about housing migrants at airports and exactly how the agency responded. by the way, one little footnote here, the house approved a
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measure late last night that would slash buttigieg's government salary to just $1. the bill was introduced by marjorie taylor greene, the republican from georgia, who calls the transportation secretary pothole pete adding that based on his job performance, he doesn't even deserve a single penny. i'll leave it there. stuart: yes. thanks very much, indeed, ash. now this, senator josh hawley demands that treasury secretary yellen ban tiktok. hawley is concerned of the events in the mid waste. -- mideast. a jewish-owned café in new york city was on the verge of closing up shop after its baristas, all of them, walked off the job in protest of the owner's support for israel. we'll hear all about it from the owner of café aron next. ♪ lean on me when you're not strong, and i'll be your friend. ♪ i'll help you carry on ♪
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stuart: quick check of the a markets, one hour and ten minutes in, dow up 18, nasdaq down 26. but do check this out, microsoft versus apple. the race is on to be the most valuable company in the world. at this moment at that price, apple is worth $2.83 trillion, microsoft is $2.68 trillion. in other words, they're $16 billion apart. apple first, microsoft second. the white house finally addressing those people who were caught tearing down posters of israeli hostages. ashley, what are they saying about it? ashley: well, white house press secretary karine jean-pierre condemning the action, posting this message on social media saying, quote: as a result of the hamas terrorist attacks, communities and families are
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grieving for the past month those families of those who have been taken hostage have lived in agony. tearing down pictures of their loved ones who are being held hostage by hamas is wrongful and hurtful, so says kjp. there have been multiple videos posted online showing pro-palestinian demonstrators ripping dun those israeli hostage posters. when pressed about the posters, jean-pierre called it deeply concerning but added so are the frequency of threats being made against the arab-american and muslim communities in the united states. stuart: that is unbelievable, in my opinion. you can tear down pictures of hostage children? ashley: yep. stuart: a pathetic. thank you, ashley. one jewish-owned calf today in new york city was on the verge of -- café was on the verge of closing after fife baristas walked off the job protesting the owner's support for israel. the owner of café aron in new york city joins us now. take us through what happened. you walked into work one day and
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they quit? is that what happened? >> i mean, we appreciate youing is us -- having us today. this happened on october 7th. it was the middle of the jewish holiday, the sabbath. just right after we saw what was going on, we quickly ordered an israeli flag, a small one. we put it next to our american flag and said we're here to support, and the briesers were not having it. stuart: these five baristas at that point walked out, en masse? did they say anything to you? >> no. one left right off the a bat, one said i'm not going to work in a place that supports israel, you know? and then two weeks later another breast that said i can't be here here anymore, and yesterday we had three en masse just come in and leave. we're not here anymore, we don't have anything to do with. you're on your own. they were against us having hostage signs in the window. stuart: now, i think we've got
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video of a line of people round the block outside your door. they -- there it is. they're using your calf café to show support for you, is that contact? -- accurate? >> yeah, that's what happened. i mean, i heard from some people that the lines to get a coffee was longer hand the line to vote yesterday. and it was, it was something special. we're on lexington up to 71st and all the a way down to park. it's a long block. but people were out in the cold here to support, here to show their love for us, for the community, for each other. it warmed all of our hearts. stuart: are you struggling to find workers? >> yes, a little bit. we actually have had some interviews and some of the interviews people have come in, they see the flag and say this is not a place for me, i'm not willing to stay here. right now our team is mostly volunteers. i mean, it's phenomenal. we have volunteers, people who came # in from other coffee shops, owners who said i'm sending you my baristas who are
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off today. our direct competitors are saying this is the love, this is justice, this is community. stuart: i find it acon thishing that anyone would -- astonishing that anyone would refuse to work for you in your café just because you're jewish and have got the israeli flag up there. that, to me, is astonishing. and i think it's a dreadful fine of -- sign of the times. i want you to know, sir. you probably can't hear me, but i want you to know, you've got my and our full support. stay open, make money -- >> thank you. stuart: -- keep going. keep going, no heart what you do. thanks for being here, sir. appreciate it. >> thank you,. i have one we for you. stuart: oh, yeah, go. can ask me. >> yes. i have here a small prayer, we asked if we could say in advance a small prayer for the state of israel. so i'd like to say that now. [speaking in native tongue]
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>> really appreciate it today, thank you. stuart: thanks for being here. we appreciate you, sir. >> thank you, thank you. stuart: republican senator josh hawley demands that treasury secretary janet yellen ban tiktok. all right, ashley, what exactly is he saying? ashley: well, senator hawley claims that tiktok has prioritized anti-israel content claiming the social media platform can use its power to, quote, radically distort the world picture that america's young people encounter and that the war in the middle east is a crucial test case. in a letter to yellen, the missouri republican referred to the recent harvard-harris poll
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in which 51% of registered voters between the ages of 18-24 said they believe hamas' attack against israel can be justified by the grievance of palestinians. now, hawley claims tiktok has a history of political manipulation and that its chinese other than, bytedance, is up to its old tricks today as innocent israelis suffer and die. basically, hawley wants yellen who chairs the committee on foreign investment in the united states to ban all bytedance-controlled apps currently available to u.s. users. stu. stuart: all right, ashley, we hear that. next case can, ketamine. it's emerging as a popular pain treatment as doctors scale back their use of opioids. some medical experts are concern concerned the risks outweigh the benefits. 23% of medical students in america have considered dropping out of school. they're concerned how their medical career would affect their mental well-being. dr. siegel takes it on next. ♪ doctor, doctor, give me the
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stuart: the market shows a mixed picture. dow up 17, nasdaq down 12. not much movement. more than half the medical students in america are concerned about the toll their medical career could have on their mental well-being. mental health well-ing being. 23% have considered dropping out of their studies altogether. doc siegel's with us. wait a second, doctor. weren't you subject to extraordinary workloads during your residency? has something changed? >> absolutely, stuart, i was. and we shoulderedded on, and we thought it was part of medical training, and we -- i mean, i could with go on and on. we said up all night, we were on every two or three nights on call. that's actually improved. i think the problem now is there's too many cooks in the kitchen. there's too many people telling people what another. there's too much administration, there's too much computerization, there's too much documentation. but here's the part about that study that's wrong, they're not quitting. medical students put their entire careers and lives on the
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line to get into medical school. they're grousing. they're complaining. what we're having is more of a problem on the other end. the study out of el salvador has a more important point to make. they're getting out of medical school, their using their degree but then not taking care of patients. they're thinking can i work for the a drug company, can i do research, what else can i do with this degree besides being in with patients. nyu opened an entirely new medical school on long island to deal with this, to get more primary care doctors. so we're aware of the problem. we need more incentives -- stuart: yes. because back in your day, i presume that debt from med school was nowhere near what it is now. so that's another incentive not to take, become a doctor, right? >> that's a hugely important problem you just mentioned. that was a chokehold. but you could say how much we wanted to do it, you know?
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where we took that, and hen we spent ten years paying it back. now medical schools, our own thanks to ken langone, busy with philanthropy supporting that, it makes it a lot easier. but even so, listen to the discrepancy here. increased medical school admissions, people clamoring to get into medical school, up 30%. even after the pandemic. but people quitting on the other end, nurses and doctors and and nurse practitioners quitting once they see how difficult it is. it's not affecting medical students' clamor to to get in. stuart: can you deal with this one quick ily, doctor? prescriptions for ketamine are booming. some telehealth services adding service. first of all, what is ketamine and, w, does it work? -- and b, b, does it work? >> ketamine is an an nettic. -- anesthetic. they discovered a while ago if you use a lower dose intraf mousily, it gives you a reboot.
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if you're in severe depression, rather hand shock therapy this worked. it was for severe depression. but once people figured that out, then the horses got out of the barn. everybody said, whoa, this is a cheap drug. it's been on the market. i can give it for anything, for pain, for a little bit of depression, and they found ways to use it in pills and loss zennings, and people made a lot of money on it. that's why we're talking about. it's a money trail, stuart. $100 a vial, you sell it for $1,000, and it may not be ethical to do so. it's kind of a gray market now. stuart: is it safe? >> it's safe if the right doctors are using it who know what they're using it for. it's safe for severe depression, not some clinic on the street corner, no. stuart: got it. doc siegel, all good stuff. thanks very much, indeed. see you again later. listen to this one, elon musk is looking for a volunteer to assist with his neuralink advancements where he's linking your brain to a computer. all right, lauren, what does the volunteer have to do?
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lauren: they have to be under the age of 40 and a quadriplegic and then volunteer to have their skull cut open -- not by a human, by a robot, a robot surgeon. and that robot would then push a needle into the brain over and over and over again. each one contains these threads that are lined with electrodes. the electrodes connect to the computer to help the brain think and click. i know, it's fascinating. but the robot, called r1, has to do this because a huge surgeon doesn't have the ability to do it, apparently. they are trusting the robot over the human. but it's going to the take years. eventually, elon musk wants to be able to use such a technique to treat schizophrenia, obesity, autism, to enable people with disabilities or problems to do more. through their brain. stuart: what elon musk has accomplished and what he hopes to accomplish in the future is stunning. absolutely stunning. lauren: he got fda approval to do this trial. stuart: has he really?
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okay. good stuff. thanks, lauren. look what we have still ahead. wisconsin congressman mike gallagher on biden reportedly asking netanyahu for a 3-day fighting pause to get hostages out. would that help hamas? martha maccallum on the white house brushing off biden's poor polling. and virginia dad terry schilling on liberals winning a majority on the school board of loudoun county. has a setback for school choice. 11:00 hour is next. ♪ the show goes on all night. ♪
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