tv Varney Company FOX Business September 18, 2024 11:00am-12:00pm EDT
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a 25 basis point cut. >> don't worry about it, be happy. well, i'm not happy, and i think a lot of people are not happy. we just immediate her to sit down and talk to the press. right now i'm not happy, and i really, really want some policy. >> if they don't get a 50 basis point cut, i think there'd be some instant selling. >> the growth in retail sales has been lower than the inflation rate, so it's ridiculous. they're spending more and getting less x they know it. >> in november of last year, fed fund futures said we're going to have six cuts in 2024. huh right were hay? they weren't right. so why are we giving them all this credit this time around? ♪ i want to talk about me, want to talk about i -- ♪ want to talk about number one, oh, my, my-my ♪ stuart: i love toby keith. i want to talk about me. [laughter] is that about me, or do you think? mars schism? [laughter] rampant -- faressism. 1 success 11:00 eastern time,
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wednesday, september the 18th. not much movement on stocks because today's fed day. we're going to get a decision on how much interest rates are going to to go down about 2:00 afternoon. in the mean time, the market's kind of on hold. as for big tech, no clear picture there. apple, alphabet, amazon up. nvidia, microsoft down. the 10-year treasury yield is moving up about 5 basis points, not a lot, but you're at 3.69. that's the yield. now this. could it be that donald trump wins deep blue new york state? highly unlikely, but it is in the out of the question. trump has a few things going for him time around. if tonight he addresses a massive crowd at the nassau coliseum. it's just outside new york city. he's going to the make a proposal that is sure to be popular with long-suffering taxpayers. he wants to bring back the tax deduction for sate and local -- state and local taxes commonly
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known as s.a.l.t. if trump gets his way, you could again deticket the state taxes you pay, deduct them from your federal tax return. in high-tax states like new york, new jersey, california, illinois, that's a very big deal. yes, it is a form of vote buying, and it may be effective. high income earners in blue states have been outraged at the tax increase imposed on hem. they want their deduction back. here's something else trump has going for him in new york, the misery of new york city. ten years of democrat rule has leftty on its knees. -- left this city on its knees. crime, the homeless, the constant sense of dangerous and -- danger and threat, the shame of a politicized justice system that tries to bankrupt the former president and put him in prison, not to mention the paralyzing scandal swirling around the mayor's office. as trump says, vote for me. what have you got to lose? it's been 40 years since a republican presidential
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candidate won in new york. in this state it's all democrat, all the time. and along comes trump. no tax the on tips, no tax the on social security benefits, no tax on overtime and now retore the deduction for the massive local taxes new yorkers have to the pay. yes, it is vote buying, but it would relieve the financial pressure pelt by so many in this once-great state. a trump win here is no longer totally out of the question. third hour of "varney" starts now. ♪ ♪ ♪ stuart: all right, ben, i know you're laughing at me, but does trump have any shot at all of winning new york? [laughter] >> dream big, stuart. [laughter] i'm sorry, there is absolutely no shot -- stuart: okay. >> -- of winning missouri state. not now for -- new york state. not now, or not even with donald
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trump's appeal and certainly not with an attempt to buy votes, as you acknowledged fairly that he is with this s.a.l. l.t. deduction thing. i thought getting rate of -- rid of the s.a.l.t. deduction was a good thing because for so long we've seen these states and localities essentially try to put their efforts to massively expand welfare program and the like in states like new york, california and illinois and put that on the back of other taxpayer many in other lower tax states by simply saying, well, you can take it off of your federal taxes which, of course, has to be made up in other ways. i think that the situation is one where i understand why he's trying to do it, but i just don't think it's going to have any inroads. one thing i will say that is true is i think it really does matter that donald trump is trying to compete within these urban areas and use them to make a broader argument that i think appeals not just to voter who are in these urban areas, but the those who are in the if sub
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you shoulds who have moved out -- suburbs who have moved out there because of the increases in crime and, of course, as john was talking about before the break, the kind of ramifications of the importation of migrants that we've seen happen in big cities across america. i think that's a powerful message, and it's something that i think the formerrer president should continue to point to as an indication of the ramifications and importing san francisco policies to the broader united states. stuart: i must confess to grinding my own axe. i supported trump's tax cuts, but they killed me. that's the way -- i live in new jersey, okay? i'm going to move on. >> terribly, i live in an area wither the write high lore taxeh local taxes. i understand. stuart: next one. one cbs reporter, she says she had trouble finding harris supporters in nevada. watch this, ben. >> we had so much fun, but what was really incredible is in every single restaurant the people willing to talk to us, we could only find one harris
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supporter in every astronaut. and we -- restaurant. and we left no stone the unurn to bed. i approached every single person. >> that's remarkable honesty by cbs. it's like 2016 when trump outperformed in the polling. >> i think that that this is something that really is, it's being seen by reporters across the country. i've certainly seen it myself in terms of my own experience, which is that this whole narrative that came out of chicago and that is coming out of the democratic party and their partners in the media, that this is some kind of joyful attitude is really only an expression of hardened partisans. it's not something that a we're seeing across the country. and i think that's borne out when you look at the various polling numbers that are out there. gallup, for instance, is out today which shows in their poll that kamala harris is way upside down with only3 33% support from independent voters. these are not partisans. these are the people who she needs to get in order to have a path to victory. and it's the constituency that,
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frankly, she should be very worried about considering how much she's strike thing -- sticking to the script, not giving them any policies to hold on to and not really inspiring them because they aren't democrats. i think the assumptions that the democratic party that they're going to come back automatically because of donald trump is -- are simply not true in this economy when people have the concerns that they do. stuart: democrats and the far-left-leaning media, they're blaming trump's rhetoric for the assassination attempts. watch this. >> you don't get to be a very big part of the problem and then pretend that it's just the other people on the ore side -- other side who caused this. >> let's stop this thing, you know? let's stop this both sides stuff. it is not both sides. it is one clear side. this is you've got to stop doing what you're doing, j.d., and what you're doing, mr. t. >> and a former president who, yes, has been the target of apparent if assassinations twice
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but is also an instigator of political violence. stuart: ben, have at it. that's nonsense sense, in my opinion. >> it's absolute nonsense, and it's insulting and, frankly, i think it has no place in our political discourse. the idea that you would turn around and within 24 hours of this latest attempt and basically say it's his fault, you know, his skirt was too short or something like that,, it's something that is shul ab a hornet, and it puts the sly to the whole narrative that democrats, they're about civility and bipartisanship and getting along with your neighbors and not demonizing anybody on the other side, and we want you to be 5eub8 to have thanksgiving without arguing about politics and the like. no. they hate donald trump and his supporters. they wish one of these assassins, frankly, the most extreme ones wish that they had succeeded. that's how much they hate him,
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and they're determined to not look at themselves and all the craze somethingses they've said about donald trump over the last eight years which obviously factored into the decisions that were made certainly by this latest assassin. stuart: ben domenech, we'll leave it right there. see you again soon. >> thank you. stuart: check the markets, please. not much price movement before the fed's big decision this afternoon. i want to to bring in eddie ghabour. eddie, it's fed day. if it is not a 50 basis point cut, will the market sell off? >> i do think it'll probably sell off because 50 basis points is baked in for today. but regardless, i think the main thing investors need to understand, that is fed -- that the fed is going to the cut rates today, they'll cut rates a day after the election, and when you're not in a recession, that is bullish no matter how you look at it. this is why we're extremely bullh for postelection, and there'll still be volatility in these next eight weeks. we will buy that volatility. but cutting rates in this type
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of environment is extremely bullish for the near term, and i think we will finish strong as long as the markets get what they want on rex day. stuart: why -- on election day. >> why do you say the rally will continue after election day? it's got to be a trump win to the get a rally? >> as long as we have at least a split government, that's going to be very bullish for the markets. and i think the probability of at least that a is very high. so when you get that and a fed easing, it is risk-on goldilocks scenario, and we'll be ready for it. stuart: okay, good stuff. eddie, thanks for being with us. fox business has commercial-free coverage of the fed decision today from 1-4 p.m. eastern. no ads. thanks, eddie. lauren, you're looking at a apple. up today. lauren: yeah, up 2. morgan stanley sees the stock near-term downside of $200 a share, the stock is at 220 the because of weaker than expected iphone 16 orders that are coming in. but they say buy every single
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dip because when the apple intelligence, the a.i. features do come out, that's going to drive a multiyear upgrade cycle. stuart: super micro. lauren: needham says this is a significant beneficiary of all that a.i. investment coming in. they're at a buy. price target, $600 which is 37% from the close yesterday. stuart: that would be nice, wouldn't it? lauren: yep. stuart: seven corps rah. lauren: they're a drug distributer: intruders got personal information, medical information on customers. they reportedly paid what is estimated to be the largest ransom ever, $75 million in bitcoin. stock is down 2.6%. stuart: thanks, lauren. just one week after taylor swift endorsed kamala harris, another pop singer, or billie eilish, is hopping onboard. but do celebrity endorsements really matter? mega-producer pharrell williams says, no, they don't, because nobody asked. kamala harris has a plan to
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bring down housing costs. can any president really bring down the cost of housing? we're going to deal with that. >> translator: and the report about the first attempted assassination of donald trump was expected to be released this week. the release has now been delayed. details coming up as the third hour of "varney" rolls on. ♪ everywhere but the seat. the seat is leather. alan, we get it. you love your bike. we do, too. that's why we're america's number-one motorcycle insurer. but do you have to wedge it into everything? what? i don't do that. this reminds me of my bike. the wolf was about the size of my new motorcycle. have you seen it, by the way? happy birthday, grandma! really? look how the brushstrokes follow the line of the gas tank. -hey! -hey! brought my plus-one. jamie?
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the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. where do i begin with oo t our young character?tle.
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the one thing she was sure of was that she wanted to be a writer but she had no idea how. is there anything new in that notebook? actually, i have been working on a little something and i'd love for you to read it. thanks for being in my life because you've been more than just a mentor. you've been a source of inspiration in my journey to becoming a writer. stuart: the secret service report on the first attempted assassination of donald trump was expected to be released this week. david spunt, come n please, at the justice department. is the report being delayed now because of the send attempt on trump? >> reporter: hey, stuart heart attacks the's what we're hearing. we're told the report is pretty much finished, yu the rollout
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may be delayed. it was expected earlier this week, now looks like it could be later this week, possibly early next week, but it is in the next few days. as you mentioned, likely delayed because of what happened over the weekend in west palm beach. and speaking of that, the fbi director, christopher wray, just a couple of hours ago talked about it at an unrelated event. watch this. >> for the second time in just over two months, we've witnessed what appears to be an attempt to attack our democracy and our democratic process. and i'm relieved that the former president trump is safe, and i want the american people to know that the men and women of the fbi are working tirelessly to to get if to the bottom of what happened. >> reporter: so back to july 13th, stuart. the secret service report will be a self-reflection sort of report coming from within the agency, a looked at what went wrong, what can be done better. five people were placed on administrative desk duty. they're working remotely.
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as for the motive of the shooter, the 20-year-old, the fbi still does not have one and may never have one. thomas crooks was killed moments after taking a shot at the former president. a man named corey comp pair tore host his life, two others were injured. seven years later, authorities e still don't know the motive of the las vegas hotel shooter. meanwhile, congress is conducting its own investigation and will have its own report soon. members in the bipartisan task force in the senate say they expect to have some sort of interim report out on july 13th and what went wrong on behalf of the secret service later this month. stuart? stuart: david spurchting thanks very much, indeed. kansas senator roger marshall joins me now. mr. senator, in what way has google cent sr.ed the first assassination attempt, and what are you going to do about it? >> stu, it's worse than we thought it was. for the fist several weeks, we saw google, whenever you
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searched the assassination attempt on president trump, it took you somewhere else. but just yesterday we had a press conference here at the senate. five senators talking about this very issue, talking about protection if for president trump. google and youtube, of course, google owns youtube, only 4,000 people watched it on youtube, but their competitor, rumbleed had over 30,000 people watch it. so google is deflecting, using their algorithms to the take people away from this topic. we're going to -- we pressed google with this particular topic. we got inadequate answers from them. we would like for them to come toward and talk about the monopoly and the censorship that they're continuing against conservative thoughts and against president trump. stuart: i want to talk about increasing the security surrounding former president trump. you're on the homeland security committee. couldn't the president just with the stroke of a pen say, right, you get the same coverage as i do. he could do that, couldn't he? >> absolutely, stu. you nailed it. we just walked out of that
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particular committee talking about this. they're studying it, they're looking at it, they're waiting for reports. we don't need to wait for a report. of there's, what, some 50 days until the next election. they need to triple down on the protection for president trump. we have over 7,000 secret service employees, they're in over 1000 offices. they need -- 100 offices. they need to to reprioritize and sented more and more of those officers to protect president trump. he works 16, 18 hours a day. he's out there with the people, and he loves doing that, but he needs to be afforded the protection. and simply, president biden could say he needs the same protection that joe biden is getting, and it's done. stuart: mr. senator, we've got new reports this morning of more explosions in lebanon. that's -- the videotape you're seeing there, that was from yesterday, the pagers explosive. today israel reportedly used walkie-talkies this time to explode in lebanon three more people reportedly killed. , twelve yesterday.
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thousands injured. senator, this seems to be a new way of warfare, but the administration says they didn't know about it in, advance. and my guess is they would have stopped it had they known about it in advance. i'm not sure that the biden administration is wholeheartedly on israel's side in to opposing terror. what say you? >> exactly. first of all, i remember president eisenhower saying something that i hate war, oz -- as only a soldier who's lived it can with all its brutality. i'm sorry, war is ugly, but iran and hamas launched this war, and this terrorism continues. israel has every right to defend themselves however and in whatever ways we need to to. but you're absolutely right that joe biden and kamala harris are walking this whole situation, and really their support appears to be more for iran and the terrorists than it does to be for israel. and i think america understands that as well.
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stuart: extraordinary the situation developing. we'll have more details throughout the day. i think this is a new headline story. senator roger marshall, thank you very much for being with us and responding to the news as it is happening many real time. thank you, sir. the biden-harris administration finally cracking down on smuggling at the border but, ashley, what kind of smuggling are we talking about? >> we're talking about refrigerants, of course. that's right. the crack down is not on narcotics, terror es or unaccompanied children streaming across the southern border, we're talking about hf if c, hydrofloor procarbons. apparently, illegal refrigerant smuggling's been going on for years. hfcs are a type of greenhouse gas commonly used in products like fire extinguishers and building insulation and are thought to have high global warming potential. that's just potential. but just like fentanyl, suspected terrorists and south american gang members, the epa says refrigerant smuggling at
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the border is hard to to stop. i'll leave it there, stu. stuart: i think you should. thanks, ashley. we're going to check the markets for you because, of course, this afternoon we've the big rate decision from the federal reserve. a little bit of red ink, but not much. just ahead -- there's a big rally on long island. it will be tonight. trump said he wants to get rid of the s.a.l.t. deduction cap. that is a win for people in high-tax states like new york. real estate expert mitch roschelle will tell us what he thinks about that plan and what impact it could have on housing. ♪ ♪ -- right there in your living room. ♪ let's have a house party, we don't need nobody. ♪ turn your tv off, break that book box out. ♪ we'll wake up all the neighbors til the whole block hates us. ♪ and the cops show up try to to shut us down. ♪ if you're going to be a home body, we're gonna have a house party. ♪
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stuart: okay, we're running up do decision day from the fed. a little red ink on the left-hand side of your screen but not that much. lauren's looking at some of the movers. general motors, it's going up. lauren: yeah, more than 2.5%. they will offer their customers, their drivers, access to about 18,000 tesla superchargers. all you have to buy is an adapter for $225. stuart: that's good for tesla too, isn't it? they get a piece of that action, i'm sure. u.s. steel. lauren: so reportedly, a u.s. security panel delayed its decision on if japan's nippon steel can buy it, the american icon, until after the presidential election -- [laughter] that a delay pushing the price of u.s. steel the up % % -- 3%. it's a hot button political issue, and everyone seems to agree that it shouldn't go through. stuart: i disagree with all of them. they need the money, and the japanese are prepared to pay it.
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what's wrong with that? you are. lauren: you'll find out after november. stuart: 74% of people think the cost of housing in america is too high. william la jeunesse with us. what is kamala harris' plan to bring down housing costs, william? >> reporter: well, stuart, number one, she's proposing a washington fix for what is essentially a local problem, spending a lot of tax money but not telling us where it's coming from and now opposing environmental rules that she supported as state attorney general. so we're california which, of course, is ground zero for bad housing policy. statewide average home $900,000, twice the national average. problem is in many large cities like l.a., not enough homes to meet demand. >> we know that we have a shortage of homes and housing, and the cost of housing is too expensive for far too many people. >> reporter: but will throwing money at the problem solve it? let's look at it. environmentalists, number one, don't like sprawl.
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they often use lawsuits the kill large projects where land is cheap. two, neighborhoods also use lawsuits to stop apartments and condos that lower property values and add congestion. you've got permits, mandates, zoning restrictions that cause delays and raise prices by up to 30%. and then, of course, you have many government-subsidized projects. builders are required to pay union wages, increasing construction costs. now, harris promises to take down those barriers, unquote, even though those regulations are imposed by cities, counties and state officials, not bureaucrats in washington. >> you know, the federal government generally just adds layers of complexities. they don't have the ability to remove them. that has to the happen by mayors and city council members and by governors. >> reporter: now, harris believes, however, that she can lower housing costs or at least make them more affordable by, one, handing out $5 the ,000 -- 25,000 cash down payments to
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working families and first-time buyers and another $10,000 of credit for first generation buyers. tax incentives for developers and $40 billion innovation fund opening federal lands to new development and cap rent increases to 5%. now, she's saying this will cost about $150 billion. actually, she doesn't say that, analysts do, stuart. but, again, as state a.g. she supported the environmental regulations which is the number one barrier to housing in california. the state environmental quality act. and finally, want to tell you guess how many -- well, i won't with even tell you. the last year the city of houston issued more building permits than the entire state of california. so 2.5 million people, almost 40 million people. it's crazy. back to you. stuart: that's a very interesting statistic, william. good stuff. see you again later. now this, i think this is a blockbuster. donald trump wants to to restore
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the deduction for state and local taxes, otherwise known as s.a.l.t., big deal. mitch roschelle joins me now. if we got that deduction back, what kind of difference would it make to the housing market in, say, new york, new jersey, illinois, california? >> i think it helps those states because people were fleeing those states, present company included, okay, because of the lack of ability to deduct -- and it's not just income taxes, it's property taxes. i think that's the thing that everybody loses sight of when you're talking about an income tax deduction. the thing that you got to deduct was property taxes, okay? so that's one thing. i don't think it's going to be a hurt to the states where people went, because the states people went, people wanted to to go there for a variety of reasons. this is a game-changer to help blue states, you know, with their lack of demand for housing in some places. tour stouter i mean, donald trump's going to pitch this tonight in front of a huge audience --
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>> in nassau county? stuart: he's going to have 600,000 people there, he's going to pitch this $of 60,000 -- do you think he could possibly win new york state? >> i don't know that he could win new york sate -- [laughter] because i mow who my maybes -- neighbors are in new york, and they don't like my trump-vance sign on my lawn. [laughter] i'll say this, remember why that came out of the tax law in the tax cuts and jobs act. it was red state republicans who wanted to take that away because they felt as though their constituents were subsidizing people in blue states because blue states had high taxes. i think t not just a sales pitcs pitch to the voters who will like it in blue states, i think it's a sales pitch to, i ultimately, his colleagues on the right who didn't like it in the first place. stuart: it's fed decision day, interest rates are going to come down 25 the or 50 basis points, i don't know. any impact on mortgage rates -- no, he's shaking his head. no impact on mortgage rates. >> yeah, you can end the segment
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right here. no, i think the 7-year treasury, the 10-year treasury really are where mortgages are priced, and they already reflect whether it be 25 the or 50. i think, though, the words that come out of powell's mouth either in his prepared remarks or the all-important q&a about the future of the rate cuts and the strength of the economy, that will probably have a bigger impact on the treasury curve and, thus, the rates. stuart: i'd like to see 25 basis points and a dovish outlook from the fed. what say you? >> i think that the labor market weakness is the biggest concern that the fed has right now, and they're probably -- the only tool they have left to fix that problem is interest rates. so i think you're going to see more interest rate cutting. stuart: okay. you've got a trump-vance on you- >> in new york, yeah. i like to trigger some of my neighbors -- lauren: does anyone have harris
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signs? >> in my neighborhood in new york, no. no. lauren: same here where i am in new jersey. stuart: when when i go upstate new york, i don't see any harris signs. >> i've noticed neighbors driving by and slowing down and looking at it and shaking their head, but -- [laughter] stuart: you're a brave man. >> listen, they know i'm on fox, so it's not like heir going to learn something new from that sign. stuart: you're all right, mitch. thanks for joining us. always appreciate it. "cavuto coast to coast" will have special coverage of fed day beginning at 12 the p.m. eastern, then we will have commercial-free coverage from 1 p.m. to 4 p.m. eastern on fed's decision day. coming up, celebrities like billie eilish rain taylor swift publicly endorsing kamala harris, but hip-hop star pharrell williams says, hey, shut up, nobody asked you. do the opinions of celebrities make any difference in this election? in chicago the mayor, brandon johnson, wants to end the shot spotter gunfire detection system even though it
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saves lives. why is he taking another tool away from the police while crime runs rampant in his city? bill mcgurn has the story after this. ♪ ♪ when you're in the military you're really close with your brothers and your sisters that are in the military with you. and when you get out of the military, you kind of lose that until you find a new family. we can talk about our struggles
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and the things that we did overseas and not everybody can do that. adam! how's it going, brother? we live pretty close to each other. so he's always coming over. when i go to jack's house, we watch a lot of football, hang out. we go outside the friendship has kind of grown into a family i was overseas on a deployment. i got separated from my marines and i got hit in the neck, and it broke my neck and paralyzed me. 14 years ago, i was on a training mission. did a military freefall, and i had some faulty equipment. i hit the ground. going, 30 to 40 knots and was instantly paralyzed. i met jack fanning when he invited us to park city, utah, through his foundation. i was able to actually get on the mountain and ski with my family, i can't put into words what that meant.
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i got paid in the military to do crazy fun stuff. and after my accident, i'm still that same guy. and when i was able to jump out of a perfectly good, helicopter, at 10,000 feet, i did it. i was talking to some vets last week amazing how we have these houses where they can come over because they■re in chairs too. carpet and wheelchairs don't mix very well. tunnel to towers, they got rid of all that. they redid my whole bathroom. that's probably the favorite part of my house. i thought they were just going to do the upgrades. but the surprise to me was they paid off the entire mortgage. when they told me they're going to pay off my mortgage, i cried. please contribute $11 a month by visiting t2t.org now
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stuart: chicago, today, mayor brandon johnson is making good on his promise to end chicago's gunfire detection system. bill melugin is in chicago for us. bill, why is he ending a system that reportedly saved lives? >> reporter: that's the question supporters of the program are wondering today, stuart, and this technology the has been in place here in chicago for more than 6 years now, but it is the at risk of being shut off this coming sunday unless its supporters can gather together enough votes at today's city council meeting.
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the most outspoken opponent of this program, as you mentioned, has been chicago mayor brandon johnson who has repeatedly pledged to get rid of it. and on monday he offered his harshest criticism yet of the technology. >> $100 million for a walkie-talkie on a pole. and the reason why they said we needed it was to reduce gun violence. it didn't do that. so, you know, it's incumbent upon all of us to make sure that the investments that is we're making, they have to get at the problem. >> reporter: but mayor johnson is facing opposition from a number of chicago aldermen when want to extend the shot spotter program, and they're hoping to bypass the mayor by gathering enough votes to pass an ordinance that would give the power to extend the contract to the chicago police superintendent who has previously supported shot spotter. now, if that a fails, another group will push in a separate special meeting to vote for the head of the city's office of public safety to extend the
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contract. one of those aldermen is democrat raymond lopez. he says may -- the mayor is uninformed. >> they say it's overpolicing, it's racest, it's all of the usual -- can racist, all of the usual catch phrases that the extreme left likes to to throw out there. but i think he's just focusing on the fact that he made this as a campaign promise, needs to keep it but doesn't know how to walk himself out of it. >> reporter: and a recent study found that shot spotter saves an estimated 85 lives per year with, due to faster police response times. and a poll last week among chicago voters found 70% of them support the tool. former riverside police chief tom whistle tells fox any claims that the program is racist are ridiculous. >> you almost have to to believe9 that the manufacturer somehow built in a racial bias into the mechanics of the software which is ludicrous. and then the you'd have to somehow say that the police are racist when they're only responding to the alert. so they don't know what they're
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responding to except for a gunshot. >> reporter: and mayor johnson's claim that the shot spotter technology has cost the city $100 million appears to be false. city records show it has cost $53 million. now, the company behind the shot spotter technology, they are criticizing the mayor's comments calling it a walkie-talkie on a stick. they say in part, quote, it is unfortunate and dangerous that the mayor is so grossly misinformed on shot spotter technology. now, if the contract is not extended before this sunday, the company will begin taking down its 2,000 devices all across the city. we'll send it back to you. stuart: you have to shake your head on this one. bill melugin, thank you very much, indeed. now, we've got to to get back to this breaking news, more remote explosions reported in remember monotoday. this is the second wave of remote detonations, probably by israel. the first was detonations in pagers. now it's walkie-talkies.
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victoria coates on the phone for us. victoria, this is a very big deal, it seems to me. israel has effectively hit hezbollah's communications system and knocked it out entirely, haven't they? >> no, that's exactly it, stuart. this is debilitating for hezbollah on a number of different levels. as you point out, they have really degraded their ability to communicate with each other and also sent them a very chilling signal that if it is, indeed, israel, they know where all hezbollah leadership is, and they can the reach out and touch them in a very personal if way, you know, through their devices, radios, pagers. there are even reports, unconfirmed at this point but very interesting, that things like security panels many houses are exploding. -- in houses are exploding. so this is a very intrusive but very, very targeted effort. stuart: the biden administration says they didn't know about these remote detonations in
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advance. my if bet is that had they known about them, they would have tried to stop 'em. what say you? >> oh, absolutely. we know this for a fact. the energy special envoy was in the region earlier this week actually telling the israelis not to escalate in the north. and, or you know, that is a big problem because when we were in the trump administration, we worked hand in glove with our israeli counterparts. we had a direct line to them, secure line. we talked all the time, and the motto was no surprises. and so that kept the relationship on a really even keel. right now you have the administration sending one message publicly and leaking that to the press and then the israelis doing the opposite. that creates a lot of instability. stuart: it surely does. victoria, thanks for journaling on the show so quickly -- jumping. we value your expertise. victoria, thank you very much. gavin newsom's neighboring governors -- nevada and
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arizona -- they're begging him to give up his war on fossil fuels. price -- because it's raising prices in their states. the "wall street journal"lest, allysia finley, is here on that next. ♪ -- gonna rock down to electric avenue and then we'll take it higher ♪ if [city noise] investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? (♪) or, let curiosity light the way. at t. rowe price, we're asking smart questions about opportunities like clean water. and how clean water advances can help transform our tomorrows. better questions. better outcomes. t. rowe price ♪
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the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm.
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♪ stuart: the governors of nevada and arizona pushing back against gavin newsom over his new rules for oil refiners in california. max gorden joins us. what's this all about, max? >> reporter: hey there, stu. well, nevada and arizona both import a significant amount of fuel from california, and the governors of those states are worried that these proposed regulations are going to drive up the price of gas even further. this as a drivers here in the golden state are already feeling the pinch. gas in california currently $1.56 more than the national average according to aaa. so in an attempt to avoid additional spikes in gas prices, california governor gavin newsom has called a special legislative session with the committee now considering a proposal to
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mandate that petroleum refiners in the state maintain a minimum reserve of refined fuel to avoid supply chain shortages. this after the newly-created market oversight found that some refiners weren't properly preparing for maintenance by ensuring they could backfell supply. backfill supply. >> we are trying to get our arms around with this proposal how do you create stability in supply so that you don't see these moments of constraint where then prices spike. and so we're looking at the golf's proposal -- governor's proposal, there are a number of other proposals that we'll be considering and, yes, we've had conversation with industry as part of this. >> reporter: while authors of the legislation claim it'll save californians millions, california's petroleum industry said this measure is actually going to cause gas prices to increase if passed. that's because they'll need to build new infrastructure like tanks and pipelines, costing them tens of millions of dollars which will likely be passed down9 to the consumer. >> those are those logistical
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constraints and issues that you really have to think through. you i don't, you don't make energy policy through mandates. you don't make energy policy through politics. >> reporter: neighboring nevada and arizona also rely on transportation fuel from california and the governors of those states, democrat katie hobbs of arizona and republican joe lombardo of nevada also coming out against the proposal writing in a letter: we're concerned that mandating refinery inventory would directly raise the cost of fuel for all of our constituencies and create further economic instability in the region. a committee's going to the start considering this proposal today and in the coming weeks. back to you. stuart: i just can't wait. thank you very much, indeed, max. look who's here now, allysia finley, star editorial writer at "the wall street journal." welcome back. [laughter] it's good to see you. >> glad to be here. stuart: okay. california's green policy really hurting nevada and arizona. it's not working.
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when will that green policy be revised or abandoned, if ever? >> well, the problem is that nevadans and arizonans can't vote out the politicians in sacramento who are creating all these laws. and, by the way, do you know what they're planning to do in november? ratchet up the cap and trade and low carbon fuel start -- standard, and they're expecting another 30-40 cent increase in gas prices, and then somehow in plans to impose a windfall profits tax on the refiners which is going to raise gasoline taxes even more. it's nuts. stuart: it is nuts. he wants seriously to be the president of the united states of america and impose that nonsense on the rest of us? >> well, i think kamala harris has tried to run from him, actually. she's distanced herself from him because of these issues. recall he did not even appear to speak at a prime time vote at the democratic national -- slot at the democratic national convention, and that was intentional because they did not want to highlight him and how damaging his policies are. supersuperokay.
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i want the ask you about celebrity endorsements of politicians. billie eilish has come out very much in favor of kamala harris. so has taylor swift. do celebrity endorsements matter? do they change votes? >> i don't think they change votes. maybe taylor swift, she may be able to energize some young women who are pretty apathetic about politics, maybe she can get them out to vote. it's funny, a lot of attention goes to the endorsements of kamala harris but not for donald trump. and when dennis quaid came out for donald trump, he got a lot of, actually, flak and criticism. so it's kind of funny that the liberal press is gushing about taylor swift and other celebrities who have endorsed kamala harris, but then they criticize those who endorse donald trump. stuart: doesn't work, does it? allysia finley, sorry it was so short, but we have news today. [laughter] thanks very much. we've got the trivia question too, you can't miss that. the trivia question is this,
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stuart: what percentage of japan is mountainous? and off-the-wall question. 20%, 40%, 60%, 80%? ashley: why not go big? 80%. number 4. lauren: he is moving on my territory. i will say 20%. stuart: i will go somewhere in the middle. i can't believe the country is 80% mountainous. it is. unbelievable. the highest japanese mountain range is mount fuji, 12,000 feet high, it was an active volcano. last erupted in 1707. 80% is mountainous. who knew? don't miss fox business commercial free coverage of the fed decision from one:00 to 4:00 eastern time today. time is a porous. coast-to-coast is next
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