declining inflation. doesn't mean the game is over. you're sort of ahead at halftime. that is great. you have to play the second half here. that is my biggest fear we're putting so much weight on the idea that inflation, disinflation will continue, that we're neglecting the possibilities, not a high probability but some probability that inflation would turn around and go higher. then we would be back in the soup here. liz: not like we haven't seen that movie before. [closing bell rings] you have to be so careful and vigilant. mr. bullard, thank you so much. dean bullard of purdue. former st. louis fed president. tomorrow the ceo of zscaler, and greg lands man, the ohio congressman ♪ larry: welcome to kudlow, i'm larry kudlow. let's go to straight fox news white house correspondent peter doocy. we have an update on the hostages and fireworks on capitol hill between two senate

leaders. peter, lots of fun today. what do you got? >> reporter: there is more pressure today on president biden than yesterday from prominent progressives to start attaching things to future aid to israel. >> people are totally disgusted about what is going on and one of the things i have called nor is to say look, we are friends of israel but israel cannot cannot disregard international law. they cannot kill women and children indiscriminately. >> reporter: sanders is in the minority of that opinion at least for now. moderate democrats are hoping that kind of talk is a matter of interpretation. >> conditions language is a bit after red herring. we don't do budget bills and do blank checks. if i was doing a budget built for the department of education it would clarify how the money was to be used. >> reporter: conditions or not

we're hearing aid will totally dry up for israel and ukraine unless president bide attaches a substantial package for border security ton to it. >> i called the president last week to make sure he understood that there wouldn't be a bill without a credible effort to get on top of our disasterous southern border situation. >> reporter: the top democrat in the senate heard the top republican there in the senate trying to attach conditions to an israel and ukraine aid package and chuck schumer responded like this. >> but for weeks, long weeks, a handful of republicans have dangerously tried to link ukraine aid and make our support for democracy in the west, a pivotal issue that history will remember us for, conditional on passing hard-right border policy similar to hr.2.

>> reporter: and we would have loved to played a sound bite of somebody here at the white house or prominent members of congress talking about how this latest release of hostages that are supposed to be the remaining women and children did not include the two american women who john kirby said from the podium yesterday, they hoped to see out either yesterday or today. there's going to be a gaggle on air force one as the president travels from georgia to colorado at some point this evening but there is a lot of silence about these american women that remain, larry and the families want updates we're told. hard to go get updates because the u.s. doesn't have direct contact with hamas. we would be playing a sound bite from here if we had one. it hasn't come up today. larry: peter, first of all that is a fabulous report. you touched on so many important bases. we really thank you for it.

on this last point though, the americans, correct me if i'm wrong, only one american, the young girl, four-year-old girl is the only american hostage released so far. nobody seems to know the headcount of the remaining american hostages. something less than 10 people. i presume there are some adults as part of that. but, again, i guess you answered it, president biden doesn't like to talk about this, nobody, nobody likes talking about this. they are americans. don't we want them to come home? >> reporter: they say that is the top priority and they are not telling us a ton about president biden's strategy in these negotiations. he is talking directly to the qataris who are talking to leaders of hamas who are working all of this out but we do think there are two american women and then the remaining hostages are men. the men are not getting out as part of this humanitarian deal. something else i saw crossing as we were coming to air. there are reports that u.s. diplomats are pushing for a more

permanent pause, longer pause. they want israel to basically lay down their arms. larry: yes. >> reporter: because they think, and we have heard this from officials here over the last few days, they think these pauses are the best chance to get hostages out. we just don't know if the israelis who we know have been planning military operations for the second they can start hitting hamas again. we don't know if they have any willingness to go along with that. larry: that story, peter, thank you for mentioning it, that is the top of "the wall street journal" news website, negotiators press for long-term israel-hamas truce. i mean it's, if i didn't know better i would say it is a story that is utterly insane but these are capable "wall street journal" news reporters and egypt is involved and qatar is involved. the united states hadn't signed on to it but the cia, nicholas burns, i think his name is,

anyway he is involved in this. israel's head of mossad is involved. i don't know which end is up. anyway, peter doocy, i can't thank you enough for a comprehensive report. thanks very much. >> reporter: larry, anytime. larry: you betcha. to continue this, folks, yesterday we talked about the enemy, namely hamas is setting the terms of the hostage pause and to some extent the entire war now. this should not have happened. the principle reason hamas wants to stop the israeli advance and hide behind the human shield hostages is precisely because israel was pounding them successfully using tremendous force in their mission to annihilate hamas but now as peter doocy reported, the question becomes will israel be allowed to finish the job? now, i get it, and in fact i sincerely hope finishing the job and other matters of war is

completely left up to the idf. but today more disturbing opinions are entering into the entire discussion. another hat tip to the "wall street journal" editorial page for criticizing senator chris murphy of connecticut. he is the chairman of the foreign relations subcommittee on the middle east and they nailed him by saying quote, i think you can defeat hamas without this level of civilian casualties which he then calls unacceptable. hang on a second. was october 7th unacceptable? just asking. does mr. murphy envision a war without casualties? israel has hit more than 15,000 targets reportedly and according to hamas, roughly 14,000 have died. now that's a hamas number so take for whatever it is worth but undoubtedly exaggerated and it never distinguishes between

terrorists who lost their life and palestinian civilians but it does show the efficiency with which the idf is conducting this war. of course from the left bernie sanders is piling on israel. seems like senators are trying to tell the idf how to fight hamas. that's called micromanagement. i would also call that insanity and then as discussed with our own peter doocy at the top of "the wall street journal" website comes this news story and i'll quote, negotiators press for long israel-hamas truce, end quote. in other words no israel offensive in southern gaza to wipe out hamas, no annihilation strategy. somehow negotiators from qatar and egypt think we can have a permanent cease-fire, a long-run truce which means, think about this, hamas will be right back at it, murdering innocent

israeli grandmothers, wives, husbands, children. they will be right back at it once again. you know it, folks and i know it because they are terrorists and they do not abide by the laws of humanity much less something called international law. now i don't know if this article has any credibility. as i said it is the top of "the wall street journal" website. it is allegedly a news story and although it does not say the u.s. has signed off on this crazy idea like a permanent truce, it does suggest that american negotiators are sitting around the table including mr. burns from the central intelligence agency and also israelis are sitting around the table. so i am hoping calmer heads will prevail. i am hoping this is a little premature and that nothing like

a truce is going to happen and that israel will be soon back in the field if they ever left it, going after the rest of hamas wherever they are at southern gaza or wherever to do the job of annihilation so once and for all israel can solve this problem. meanwhile as though they got nothing better to do, as though they got nothing better to do, the white house, president biden, none of them ever talk about the americans who are still hostages. and then finally iran continues to go on its merry way as the puppeteer and the paymaster, all right? nothing is done there. it is appeasement, not deterrents. i hope, i hope, that the idf does what israel must do and do not listen to any of these other

nonsensical noises. that's my quick riff. all right, stories are moving as fast as light. joining us now the great alabama senator, tommy tuberville, member of the armed services committee. he knows a thing or two about that. senator tuberville, thank you, sir. you probably heard peter doocy, maybe you heard part of my riff, i'm hearing insane things out there, senator tuberville, utterly insane things as though some of this, your colleagues in the senate, not necessarily your side of the aisle by the by, of course not, but whose side are these people on? whose side -- when they talk about humanity and civilization and casualties, i mean whatever happened to october 7th? senator fun -- tuberville, i'm who had under the collar. this stuff has got to stop. let israel be israel is what i'm

saying. >> that is typical, larry. democrats ride both sides of the fence. they care nothing about the people of israel or people of palestine. they care about votes or power. don't do anything to take away votes from them. you're exactly right. what happened to the american hostages? does joe biden mention that, anybody ever mention that, kirby? it is embarrassing we have people we need be involved with in terms of getting them out but you know, it's typical how this place is run. when you've got bernie sanders, chris murphy and chuck schumer trying to tell people how to run a war we're really in trouble. larry: yes we are. that is a good point too right there. that is a good point. i do not understand. when a foreign country takes an american hostage or five americans or 10 americans or whatever the number, that is an act of war and we are not behaving, we, this administration, the state department, the defense department, and so forth, national security council, the whoo it house, are not acting

like it is an act of war, senator tuberville. i don't understand why they are not trying to put the fear of god, not just into hamas, but into the puppet master and the paymaster whose name is iran? still has gone essentially scott-free with a couple of pinpricks despite the fact they have orchestrated 70 some odd attacks on u.s. military assets. you're on the armed services committee, senator. what the hell is going on there? >> well, you're exactly right. as i said they're trying to walk the fence and play both sides. joe biden, does not want a conflict with anybody. he is actually pushing money to iran who is attacking our military bases. it doesn't make any sense. we got a huge problem with communication, with what's going on. again, we voted to give israel money the other night here on the senate floor before we left for thanks stiffing. every democrat voted against it, every democrat. we want to give them 12,

$14 billion but they did not want to give up their money for their new irs agents in the inflation reduction act. they're caught between a rock and a hard place. it is becoming a problem for the democrats trying to play both sides. they can't do it. sooner or later they have to take a side. i know which side they will take. you do too. we'll wait to let them show their hand in the very near future. larry: senator, let me play very briefly a counter-terrorist special-ops expert, aaron cohen. you may have seen him on some of these -- we have him on our show. fnc has him on. let me play what he said last night about hamas and joe biden's mind. take a listen to this. >> this one will sting the white house a little bit. you know me i don't get political here is where i am at. president biden right now is, is being manipulated through psychological warfare by hamas. larry: being manipulated by

psychological warfare by hamas. hamas keeps dribbling out prisoners, senator tuberville. that extends the cease-fire. that stops israel's momentum to annihilate them and win this war convincingly. who, who is mr. biden listening too? >> he is listening to both sides. they want a truce. joe biden wants a truce. he does not want to continue to do what israelis are doing. they're trying to get their people back. they're also trying to get our people back by the way. joe biden's not helping. it is just, it is just a matter of consequences of what joe biden really wants to do here. he is afraid it will cost him some power, cost him an election. joe biden needs to make the decision which side he is on. we all wonder what is going on in our country whose side he is on but he needs to make a decision which side he is on with palestine or the israelis. larry: you know i think he would

be better served if he just took himself out of the presidential race and therefore was able to be a commander-in-chief and help our great ally israel unequivocally. quit playing politics. step out out of the race. >> i agree with you. the money we're spending in this country just on the border, $500 billion, larry. president trump wanted 20 billion to build a war. we spent $500 billion in the last 3:00 years on immigration in this country. what a disaster. the american people deserve better. i don't know whether we can overcome what is going on at the border. i don't know whether we can over come what he has done to our foreign relations all over the world. it is a complete disaster. he has not done one thing to help the american people and this country. we better wake up what is going on. american people are starting to understand, looking at the polling who is making these decisions and all these decisions are going against the american people. larry: last one, senator tuberville, appreciate your time

as always, sir, mitch mcconnell got up today and said there is going to have to be a border deal, i presume something to do with policy in order to tie a bow around ukrainian and israel foreign assistance. chuck schumer, majority leader schumer says no. says it is dangerous, border deals are dangerous. so mcconnell is in your camp for a change and schumer is not. how is this going to turn out? what's your forecast, senator tuberville? >> this is the way it should be. the republicans have what we need now, a skin in the game with what we can do to make a decision here. you know we will stick with what we're doing, everybody vote as a republican for what should happen, make israel funding separate, then ukraine. also fund the border before we do anything else, stop the immigration. we've got the power to do that now. finally we've got our leaders

stepped up we'll do it this way. we're not going to vote for anything to do with ukraine or israel until we get something done at the border. hopefully we stick with what we're saying and we get something done. larry, it is a disaster there. we can't continue on the way it is going, with everything that has happened in the world, in 200 years this is the biggest catastrophe that happened on american soil, the border, immigration policies that joe biden really let flush down the drain. he is giving keys to the country to, to other countries coming in right and left. larry: they don't really know who is coming in do they, sir. >> no. larry: anyway, senator tommy tuberville as always thank you for your time. >> appreciate it. larry: yes, sir. coming up here on "kudlow," are the bidens capable of doing anything except lying about the economy? you know they never tell the truth about the economy. so we're going to revisit some unbelievable statements by bidens, bidens, press room,

presidential, whatever. we got steve moore coming up. he will be our guide. i'm "kudlow." let israel be israel. let the idf be the idf. the whole war depends on it. remember, folks, it is not just israel. the terrorists are waging war against this country, these united states and those make the stakes even higher. don't mess with it. let israel do what they're going to do. i'm "kudlow." we'll be right back. my ♪. so, i use my freedom unlimited card. earning on my favorite soup. aaaaaah. got it. earning on that éclair. don't touch it, don't touch it yet. let me get the big one. nope. -this one? -nope. -this one? -yes. no. what? the big one. they're all the same size. wait! lemme get 'em all. i'm gonna get 'em all! earn big with chase freedom unlimited. how do you cashback? chase.

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so, let's do this. give us a call today and speak with one of our hellomedicare licensed insurance agents. and say hello to an easier way to do medicare. ♪. larry: all right, there they go again, the biden economy is failing and it is all trump's fault, remember? it is all trump's fault. i guess i got to take the rap here. steve moore will take some of the rap from freedomworks, committee to unleash prosperity hotline and "moore money" on wabc radio. here is your favorite press secretary, steve moore. here is your favorite coming up with some price words aimed at you. take a listen. >> when we walked into this administration the economy was on a tailspin. that is the fact. because of the last administration, because of the trump administration, because of the how they dealt with, dealt

with covid and the pandemic, because think didn't have a comprehensive plan. the president came in. he passed the american rescue plan. which it was able to get the economy back on its feet. larry: tailspin, tailspin. that's a fact. i'm going to add to that, you have only to listen to her and she will tell you that joe biden has created far more jobs than donald trump ever dreamed of creating. you put the lie to that in the hotline. what about this fact, tailspin, fact, steve moore, do you have a response? >> yeah the economy grew i think the number was about 8% in the second half of 2020. so that is during the last six months of the trump presidency. remember trump reopened the economy by around june, larry. you were there. the economy exploded with growth, remember that? we had several months where we had like over a million new jobs created. we were on a glide path to a

very strong economy when biden took office. incidentally, just one little factoid a lot of people don't know, i was surprised by this you know more people died of covid under biden's presidency? which is pretty unbelievable, given that trump handed the vaccine that saved a million lives to biden. all of those things, look i will repeat this, if you look at the poverty rate, if you look at the unemployment rate for blacks, whites, hispanics, asians, every group, before covid hit we had the best numbers ever, larry, ever in american history thanks to the tax cuts, deregulation and pro-american energy policies, all of which by the way have been reversed by biden. larry: first quarter of 2021 was 6 1/2% annual rate with less than 1 1/2 inflation. joe biden would have better off not doing anything. if it ain't broke don't fix it. i can't resist. there is one more karine jean-pierre. hang on to this one. she will show you, this is aimed

at you again. get ready. >> let's not forget what republicans are doing on the other side of, again, pennsylvania avenue. they're trying to increase health care costs. they want to get rid of medicare. they want to get rid of social security. that is something that we saw them try to do at the state of the union, right? they do that over and over and over again. they want to make sure millionaires and billionaires are actually getting the benefits, right? larry: did you get that, steve? not republicans want to fix medicare or social security, republicans want to get rid of medicare and social security. so, what this is is, it is like the big lie. this is the big lie. you want to get rid of medicare? do you want to get rid of social security, steve moore? >> well, this has been the line for 45 years since reagan was president. they have some kind of secret plan to kill medicare and social security. it has never been true. there are huge deficits in those programs that need to be fix

the. i think every american understands the reality of that, you and i have been in this game a long time, larry, i think you long irthan me, every time the democrats have their backs against the wall on their economy which is a lot, what do they do? they play the class warfare card. it just doesn't work anymore. larry: right. >> look at, look at the trump tax cut. look at amount of taxes paid by the top 1%. you know these numbers. the percentage of taxes paid by the top 1% went up under trump, it incident go down. what are they talking about tax cuts for millionaires. larry: the middle class were the biggest beneficiaries of all. >> you better believe it. larry: kevin hassett had that right. lying with impunity like this doesn't work anymore there is too much information sources, too much social media, too much internet. you can't get away with this anymore, anyway, steve moore -- >> they can't believe their lying eyes. larry: i don't want you to feel

guilty, we let you have a whack at it. >> hey, you and i are proud of what happened under trump. it was fantastic success. larry: i got to jump. steve moore, my buddy, terrific guest. oil prices are falling. this is interesting, opec plus meets this week. so what are they going to do? how is this going to impact the israeli war? we're going to ask oklahoma senator markwayne mullin and plus, liz peek and deroy murdock will tell us why joe biden should pull out of the presidential race for the good of america, for the food -- good of israel, and for the good of world peace. all that when "kudlow" returns. ♪.

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they going to do and how might all that impact the israeli war? joining us now is oklahoma senator markwayne mullin. senator mullin, thank you, sir. >> hey, larry. larry: it is interesting, since september opec plus has basically taken about 20% of current oil production out of the market and at the same time oil prices have fallen. brent crude has fallen and you know this very well as a oklahoma senator, west texas has fallen and retail gasoline has fallen. >> right. larry: i wonder whether you have any intelligence, any thoughts on what opec is going to do, obviously now we're in the middle of a raging war between israel and hamas and i haven't heard much from the saudis or the opec plus crowd, so what you think? >> keep in mind the reason why the fast prices have dropped because we went from a summer blend to the winter blend which is cheer to make and cheaper to blend. when you start looking at opec, the cartels at opec, they are, they are essentially going to

hold americans hostage or basically apply sanctions to the american people over their disgruntled views on israel and the war going on in gaza and this shouldn't be happening, larry. if you look at it right now, they're wanting to cut 1.3 million barrels of production per day and we're producing right now two to three million barrels less per day underneath the biden administration than we were underneath the trump administration f we were simply producing what we should be producing before the biden administration came into office this wouldn't have phased us. this wouldn't phase us at all because u.s. energy independence brings on global stability because people want to do business with us, because we don't treat people like opec. they know that we're going to be stable and we're going to continue to have oil at a fair price rather than try to run the prices up artificially so we can pad our pockets.

larry: i think that, you know, the thought occurs to me, sir, that if we, if the united states were producing, let's say 14, 15 million barrels a day, which was the trend line -- >> which we could. larry: laid out by the energy department. we could have produced 16, i would suggest that oil prices even though they have come down, let's take brent, let's take west texas, you would be closer to 50 than 80 or 100. >> right, right. larry: something like 50, and i know we're just speculating, senator, we're having some fun here, we're playing oil traders, oil brokers, but that would have weakened iran enormously, which in turn be it would have weakened hamas enormously. >> that's right. larry: that's the part that sticks in my craw, sir. this war on fossil fuels, who has it helped, who has it hurt senator mullen? >> remember opec plus is russia. because of artificially high

prices because we're not energy independent and we're still buying oil from the saudis and we're still shipping in fuel from russia, we're funding the war in ukraine. at the same time, because we're allowing iran to trade openly on the market because we took the sanctions off of them like trump had on them, we're funding the war on hamas, you're absolutely correct. iran is the wealthiest they have been in a long time, in literally two decades because of sanctions lifted by the biden administration and these artificial prices. you're seeing opec upset because prices have dropped. they're threatening to cut oil production again which is going to drive up costs. at the same time, none of this would have to take place if we had the trump policies in place and we were still producing at the level we were underneath trump, which as i said, opec wants to cut 1.3 million barrels per day. underneath the trump administration we're producing two to three million per day more than we are right now.

larry: they have basically taken out, yeah, five, five 1/2 million -- world supply and demand tends to balance somewhere around 100 million barrels a day. they have taken 5% out but you know, the last point, senator, i would say this, i don't think the saudis like iran anymore than you do or i do. >> they don't, you're right. larry: they don't like iran. they don't like the houthis. >> you're right. larry: they don't like hamas and hezbollah either. i think the gulf states in general, particularly, sunni gulf states, they have been quiet but i think, they're really rooting, i know they're rooting against iran, they may be rooting for israel to squash hamas. i give you the last word on that. i don't think they will blow up the price of oil. i don't think they want $100 a barrel or $150 a barrel. i don't think they want to do that this time around. >> i don't know, larry, we'll find out.

i know saudis were trying to normalize relationships with israelis, not because they liked israel but they knew their economy was something they needed to be dependent on if they start waning themselves strictly off oil for the saudi revenue. so i know they were, because they saw what happened to the u.a.e. however i wouldn't say at all they're rooting for israel in this. that's not their eyed lodge ideological path. they did that because of the weak administration that the biden administration. larry: yes. >> if we were growing what reagan said peace through strength we wouldn't have any relations with iran, we would be building a fence to crush off that regime. larry: i would be bombing some of them oil fileds, i will be honest with you. take out command-and-control

center. that is just me. senator markwayne mullin of oklahoma. >> thank you, larry. larry: we'll shift gears, the question is, hunter biden will he testify before the house committee or not? let's go to david spunt at the justice department with all the latest. david, how much fun is this really? >> it is certainly interesting and the big news today, larry, hunter biden says that he wants to testify in public. he is ready to testify before millions to see. his attorney, abby lowell sent a letter to house oversight chairman james comer just hours ago, taking him up on comer's offer to have hunter biden come before the committee. republicans wanted this to behind closed doors. hunter biden said no, i want to do this in public. i want this to be on camera for everyone to see. lowell writing quote, we've seen you used closed-door sessions to

manipulate, distort the facts misinform the public. we propose opening the door. the public proceed siding would prevent selected leaks, in nip lated tran scripts, one-sided press statements. comer who is neck deep in hunter biden investigations originally wanted him behind closed doors. comer today in a statement he continues to want it behind closed doors. he says hunter biden is try towing play by his own rules instead of following rules required of everyone else that won't stand with house republicans. our lawfully issued subpoena to hunter biden requires him to appear for a deposition on september 13th. we expect full cooperation with our deposition but also agree hunter biden should have the opportunity to testify in a public setting at a future date. ranking democrat, jamie raskin from maryland say the following, larry, chairman comer's insistence hunter biden's interviewed should happen behind closed doors proves once again

the republicans fear most, sunlight and the truth, larry? >> absolutely. david spunt, thank you very much for that up to date report. appreciate it very much. all right, we might chew on this for another 30 seconds or so let's bring in liz peek, syndicated columnist, fox news contributor, let's bring in deroy murdock, senior fellow at london policy research center and fox news contributor. deroy, he will want to testify publicly to make it in some kind of a show trial, spend all his time attacking donald trump that is my hunch. that is just a guess. >> something like that. play for the cameras. why not? they can do a closed-door type deposition. put out the transcript within 24 hours, bring him in for public testimony within a week or so. that gives them a chance to ask questions they can at great length, not be limited by five minutes for you, five minutes for the next person, with that very strict structure. put it out in public. hunter biden should come out and defend himself.

republicans should ask him tough questions and democrats should try to defend him this should be out in public and enjoy the benefit of sunlight. larry: liz, follow the money, that is jamie comer is doing. >> democrats are being driven crazy by comer following the money. that is what the investigation is all about. he not only wants to talk to hunter biden but james biden and other biden family members who received money. receipt of that money, ex-widow of beau getting money from china, what is that all about? what are all the shell companies about, et cetera? there is you have a fall lot of smoke here and everyone understands indeed there is some fire. hunter thinks weirdly he is a sympathetic character. that he can make a public statement and talk in public and some how he is going to bring the public around to thinking that he was just a drug-addeled,

sad young man who did some things wrong but he is really there to make sure everybody understands it's okay. comer has every right, the courts backed this up to subpoena a private person or a private enterprise and he has done that. i believe a deposition might be under oath, is that correct? i'm not sure but i think -- larry: deposition is under oath. deposition is under oath. >> that is a very different thing than hunter biden just coming in winging it for public estimate think. larry: subpoena you may be held in contempt of congress if you don't respond. >> yes. larry: but, but the justice department, remember, them? >> of course. larry: they have to enforce the subpoena. >> and they won't of course. larry: contempt of court. they won't do it. deroy, liz peek want to get rid of joe biden. >> yes, i do. larry: she believes this is instant replay, i think a little fanciful, interesting scenario, like 196, lbj in a war in

vietnam, the, et cetera, et cetera, gene mccarthy almost beats him in new hampshire for a primary. i might say i was in new hampshire for that primary. robert kennedy, dean phillips. before liz explains herself i want you to think about this. i'm thinking here, joe biden should get out of the race, not like vietnam, for the good of israel, stop paying politics for the food of america, for the good of hostages and for the good of world peace because right now he is interfering on a daily basis trying to micromanage and it is a bad story, it is about dirty lowdown politics so get out, get out. >> three of us would love to see that happen. i don't think joe biden would. i think joe biden has a big ego. he is happy, finally made it to the top of the heap after 50 years in politics. i think dr. jill biden loves being first lady. he doesn't have to leave. he can stick it out as long as he wants. i keep hearing party elders will

come in saying time to go. joe says great, two minutes to get out of my office. secret service boots you. i don't want to see your face again. larry: liz. >> the polling is horrible. he loses to everybody. by the way we haven't really seen what some of these other democratic contenders could do. obviously for his party he should step down and i really think the number of people willing to argue that case is shrinking by the day. larry: you're right. >> influential democrats everywhere are saying get out, i'm saying for the good of world peace. good of israel. >> a strong america, larry, for the food of world peace. larry: he needs to go in general, but, but, right now he is micromanaging. he is -- conditions, god knows what he will come up with. deroy murdock, liz peek are all good. coming up did, we did a lot on to show today. the index of leading indicators has been falling for 19 straight months. the question is 2024 recession

own the way? we have jon najarian to tell us. stick can "kudlow." he will tell us everything we need to know and then some. ♪. us music) ♪ ♪ ♪ be ready for any market with a liquid etf. get in and out with dia.

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larry: we're going to go put a chart up on the full screen. you see that right line going straight up. that is the index of leading indicators, which is an important future indicator and it shows that it has been declining, i know the lines are going up, it has been declining for 19 straight months. not as bad as the financial meltdown in in '07, 08, 09, thet was up 24 straight months but enough, and we'll show you the second chart to strongly suggest that real gdp could actually decline next year, even though wall street doesn't believe so. so, we bring in jon najarian, co-founder of market rebellion. he has been through many of these cycles. 19 straight months of declining lei as it is called in the trade is not good. you have inverted yield curve, falling money supply, housing is

weak, business in general is very weak, ismss are weak. >> absolutely. larry: i'm not saying it is perfect but do you think -- how would you handicap on say 65% recession, probability, 50, 25? >> going with stevie cohen, .72, owner of the mets. stevie thinks we'll see another recession. larry: steve cohen does? i don't know that. >> he thinks it will be shall dough and i do too. the reason rolling recessions in 2022, communication stocks, i.t. stocks, discretionary spending areas all down between 30 and 45%. now you go into this year, obviously some of those have made recoveries. i.t. in particular, but, and discretionary because we're in the season for it, this is the super bowl, for, you know retailers right now, but, i worry about things like a firm, that is that buy now, pay later stock, it is at record highs.

why do we think that is? larry: i worry that manufacturing is falling. >> oh, yeah. larry: i worry new orders for businesses are falling. those are classic future indicators that are built in, and you know, short rates are still higher than long rates, right? >> inverted yield curve. larry: i know, there is, there is no magic to these things but i think wall street is underestimating next year's risks. >> i think, that we, might be, you and i, all of wall street we might be. larry: not me. i've been off the street for a long time. [laughter]. >> but you headed up a pretty robust group under the previous administration. larry: she is waving us off. awesome. you agree the leading indicators keep an eye on them? >> they are foretelling bad things but i don't think it will be too bad but i do think we'll have a rough january and rea february. larry: jonoals najarian, folks

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larry: message to the biden administration, please, let israel be israel. let the idf be the idf. don't micromanage. let them annihilate hamas and everybody would be happy because they'll be watching david asman in for liz macdonald up next. david: they have to complete the mission. that's what the marines say. complete the mission. they have to be free to do that. thank you, larry. hamas releasing tennis relies and -- ten israelis and two others today and israel saying