tv Cavuto Coast to Coast FOX Business October 1, 2024 12:00pm-1:00pm EDT
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animal to across the brooklyn bridge? murphy? you start. >> first animal across the brooklyn bridge, elephant. . number 3, elephant. stuart: i'm convinced it was an elephant just to show it could carry a heavy animal. on my right? what? a rooster? get out of here! emily roebling -- i forgot you. sorry. very sorry. >> i was going to say rooster. stuart: well done. i've got to check a few things out, big items of the news, iran launched a missile attack on his will, the u.s. navy positioned 3 guided missile destroyers, israel's military is tapping lebanon's capital. big move on the port strike. is yours. stuart: neil: are watching reaction to
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that. the dow is 430 points. this report, and attack from iran is imminent in a list of missile attacks on israel, we don't know where or when, the next 24 hours, no way of knowing, oil jumped on this, 4%. in europe it jumped even more, $75 a barrel, that's more impact than something closer to that region than here. between this and the goals you have and the gold you have it running up, safe havens or whatever you want to call it, havens period. jonathan cortina joins us, starting a new month and a new quarter, final quarter of the year. it doesn't take much to tip the market. something like this would do
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just that. so much we don't know. what do you make of that? >> i'm not downplaying the headlines but let's look at things in perspective. we have a great run up in the market. what we see at the end quarter is a selloff. a large run-up yesterday. it is warranted from trading and calendar perspective, and the geopolitical risks we have. the longshoreman headline picked up a lot of steam. a lot of pressure on the market. it is quite telegraphed, no surprise we start to see some retaliation, activities that occurred the past 5 or 6 days but that's part of the good news, not everyone will start getting prepared. the bad news is this can
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escalate very quickly and go very far. that's where a lot of this uncertainty is. we are seeing investors moving out of the more volatile stocks into gold, we've seen it move into less volatile atfs. there's this trepidation ahead. let's put that aside. we have our continuing conversations you and i have had about interest rates, the election in 34 days from now. what the fed continues to do. economic data we received a. stirring the pot, all day of the fourth quarter. neil: what is remarkable that we talked about over the course of the last year as we approach the anniversary of the hamas attacks on israel that got us where we are, the markets are higher, substantially higher from that point. there were gyrations. it was a saturday attack, there was a great deal of uncertainty
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where this would be going and how this war would be dragging on and here we are significantly higher. the s&p up 30% higher than it was, what do you make of that. >> look at a long time chart of the s&p and global pandemics and terrorist attack we've been through. the market is strong and the market takes two steps forward, one step back. in a short time we saw that happen with the market rebounding quickly to that. the market is strong enough for these unknown headlines that will come out down the road. from an investor point, we have to look at things from a longer-term basis, these headlines are alarming but you've got to keep it in perspective. markets close to 20% this year. it would be helpful to get an
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over reactionary selloff, not in one swoop but over a period of time. at the end of the year you will look at your portfolio and say i was up 14%. if you said, we all know to take the swings in stride as the market moves. there are head winds in front of the market. the election is coming up. who knows if that gets settled that day or down the road. another fed cut coming up. there is definitely a lot on our radar. china taiwan issues come back down again. certainly things to stay focused on.
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neil: jonathan cortina continuing to follow it, a market that is still worried about a possible expanded war in the middle east. we have a sports strike we are looking at, it started with dockworkers going off the job and maybe off the job for a time. we have grady trimble in baltimore. lydia? >> reporter: you probably hear this demonstration behind me. take a look, hundred workers walked off the job in new york, truck drivers passing by on the highway, showing support for workers that walked off the job to strike.
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the port is prepared for roughly 5000 picketers, those who walk off the job, for the gulf coast and we talk with workers that are here, main concerns keeping up with the cost of living and not being left behind. looking at what they are making during the pandemic, talking about one mother who said that's why she's walking off the job. >> be fair to us, the longshoreman, everything here that america receives, the goods, the supplies, being supplied by us. we are the ones here in the rain.
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>> reporter: it is so loud here. this is day one. the question is how much longer will this last? neil: will you shut up? i can't think. grady trimble in baltimore. a lot of the supply that is on those tankers and boxcars, knowing there was access to it and they just sit and won't be moved because they can't be moved to. this was a union only dockworkers strike. what are you hearing from them? >> reporter: we are hearing honks like lydia's, not as enthusiastic as what we heard in her live shot as trucks go by. truck going by, and a truck carrying cars, getting to this entrance at the port of baltimore, and at this
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particular entrance, the port is east and charlie, because of the strike you see going on, the work that is not being done right. 2400 of the longshoreman zoster -- if they were not on strike. auto parts, cars, produce, other products that are moved through the port of baltimore, from texas to maine. they are not loading or unloading anything. the president of the american trucking association, and now he's making it difficult to do hurricane reef in north carolina and other parts of the south because of the strike. >> what we were trying to
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support, and unlike other areas like florida, and the circumference of this damage because of the significance to the roads, flooding, mud. a lot of this is being flown in. and to help these communities, >> reporter: a number of industry groups are calling on the biden/harris administration to invoke the taft-hartley act which would force these workers back on the job while negotiations continue. president biden has refused to do that despite calls from the national retail federation, national wholesales just to be her, national association of manufacturers. the list goes on and on. they say president biden has the authority to do it and i
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should point out that the economic impact could be huge if it lasts a while, $2.1 billion is estimated cost of the us economy for a 1-week strike if supply chains come to a grinding halt if this strike continues. neil: how long it could continue is an open-ended question. imagine, if you are in the food business on any of those container ships and boxcars, there's a way around this, asparagus is what they were trying to get their hands on. and they knew this was coming get, it is going to cost a bundle and they have to pass along some of those costs. tim ryan is the owner, his son is the vice president of sales.
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welcome to both of for you. i would like to go to you first. you had an idea this was coming. hoped that it wouldn't but it has. now what? >> thanks for having us on the show. for us we anticipated the strike has been looming get. we elected to take proactive steps to prepare the supply-chain management with bringing an additional 150,000 pounds of asparagus by air and by ocean. we've done this to be certain we have the supplies to support customer demand and to support farms that count on us to distribute their product as well. neil: time is money to say nothing of how expensive it gets to be as time drags on. i was just listening to what
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your dad outlined. this could have a clear impact. how are you preparing for it? >> to echo what he was saying, what any business would do and take action. we had to bring the product here by any means, perishable goods, any day it could be stuck on a port, it could mean not getting products to supermarkets, the consumers who need our products or we whisk the product going bad and turning it into a worse problem. doing so, the financial impact on our own has been significant. additional 150,000 pounds, costing $0.50 a pound just to do that, $70,000 additional
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expenses we have to take on and the risk of the we didn't know what was going to happen two weeks ago, we didn't know if negotiations would be settled, without knowing what the outcome would be. we don't know what kind of effects will truly take place at the ports as far as getting product in and out but it's an unfortunate situation we are faced with that we have to deal with the best we can. neil: you are doing that. back to your dad, you have to pass along at least some of that increase. what kind of reception do you get? >> it is mixed. we work with retail customers on an annual basis 52 weeks a year and we are asking our customers for support. some are on fixed price contracts that they have less ability to help us.
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others are not. it is in the averages. there is impact for us and we are incurring a significant risk. our business is the supply-chain management and hopefully this strike is not long and things can get back to normal as soon as possible. neil: have you had to buy other produce? are you planning to now given the fact that this looks like it will last a little while. it is open to either of you? what do you do now? >> we have to stay proactive. we have to continue, we need to have multiple ways of getting product to our customers that rely on us. we've had to do this out of peru, guatemala, thankfully
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there is regions like mexico, we are able to use alternate ways of transportation and trucking to get product here but there has also been weather impacts affecting supply for multiple commodities. nothing is easy at -- really coming at a time the whole industry has been trying to get into a rhythm getting ready for the holidays, more demand out there for items like asparagus typically seen thanksgiving and christmas and we don't know how long it will last. it could trickle down to consumers. prices are going up. at a time where supplies should be coming off and prices should be coming down. neil: you are just innocent collateral damage trying to make a living to help folks and
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included, for only $15 a month. >> 134 now known dead. that's the case in north felt - north carolina, power is out, reaching people is next to impossible, 33 known dead, the single hardest hit town in the we 6 state disaster known as helene. one thing i love about robert, the whole weather scene, he is a human being, a lot of human beings, impacted and away they didn't know what happened. what is the latest? >> reporter: appreciate the kind words. that's what myself and this team, we look at the human
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aspect of this, we moved to the so want to know a river which overflowed its banks. i want to illustrate the power of this storm up. you sabe on street level. i'm headed below to where the street collapsed. there's a lot of noise here. a lot of activity. i want to show you the crumbled mess here. wait until that goes by. the rocks that have fallen from under the road and collapsing the piping. there was heavy machinery here earlier. they were trying to hook up the sewer system. there's no running water, no electricity. the cell phone service is near 0. the police activity has been intense as we walk the pipe below me, but and debris as the road has collapsed. this goes a mile behind the camera and a mile behind my back. all this area as the river system overflowed, ruining
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structures and businesses, taking away some lives, unfortunately. 134 confirmed dead. they are going through many areas. first responders knocking on doors, homes that are destroyed, going through the rubble with dogs and equipment to see if there is anyone else, a soul that has lost their life. we hope they've not found any more, heavy police presence came through half an hour ago and they were screaming through vehicles and sirens. i hope that's not the sign of more people who lost their lives. many and accounted for likely because they are up in these hills and mountains and don't have the service to let loved ones know and the ability to get out. break service, vehicle company collapsed, it is gone.
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if you can, turn the camera all away. jared maloney, you have to move. they are pushing the huge piece of freight that got stuck in the distance with a piece of heavy machinery, trying to move that, trying to get vehicles over the bridge into these neighborhoods and hills. that is key. aid has been limited. cell phone service bad. governor cooper, and if they could speed up the process and they need to. and multiple -- across multiple states. one. 5 million customers out of power and this is because of hurricane helene which made landfall at 11:10 p.m.
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last thursday and the hell that has occurred has been remarkable. you hear the choppers above us and the sirens down the street. this is not a recovery situation, this is an active search and rescue with a fluid scenario. these conditions as one person described, apocalyptic. these convoys, with first responders moving farouk. it is something significant. stuart: robert ray in the middle of that. power is almost completely out, 2 million plus in this six state region without power.
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a disproportionate number, the cancún navy president and ceo tries to help folks who are in harms way but getting to them takes a devil of our time. good to have you, thank you very much. how are things looking now? >> we look at longer-term impact and start that process right away. we are known as first and last to leave. the search and rescue is difficult and so important that that's done correctly in a sensitive way. our teams have been careful to work with authorities to do that in the right way. we had guys going there two days ago. we got triggered. we were in perry, florida after helene, we wrote it out in tallahassee. when we started getting word what was happening in the foothills in north carolina and georgia, we shifted what we
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were doing, our mission is to be there right away, provide the first set of relief which brings hope to people, we crowd sourced things. people are calling us. instead of calling 911 or emergency management or first responders they call us. we are having to say have you called emergency management officials first? they looked to us to be in there helping right away. it is important we work together. what we are setting up is a massive volunteer movement to do cleanup, i call the countless creative range of services, so many things need to be done to support these communities and volunteers do that. that's what we are standing up right now. stuart: when you get into the hills into real rural areas, that is where it's difficult for folks to reach you are you
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to reach them and we are hearing forget the power outages and no cell service, the border system will take weeks to repair. those folks in desperate need of things like water are in a world of hurt. >> absolutely. this is true every disaster. this is a massive scale one but try living without running water for a week or two or electricity at the same time so that is what we do. we begin to open the logistics supply chains bringing those 2 people. a lot of different efforts that make that happen, one of the things we specialize in with search and rescue, we have a concept we call safe camp. that's an acronym for swift action. the walmart foundation has given us several large grants to create this and they become a supply chain that provide supplies to us using volunteers to put those things in the hands of people or hotshot them
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into communities that were impacted and we are hearing from friends and family, haven't heard from my grandmother or sister, we ask their address or name, to find that individual to do that. it's like assent organizations coming at us. neil: you've heard this before, helpers are doing the lord's work and these people are desperate for help in your providing it. the cajun navy ground force president and ceo on the scene. it is a complicated scene. to reach out to people, you have to know where they are. getting to them is one thing. trying to get to you is quite another. i will keep you posted on that. keep you posted on this real threat of a possible imminent ballistic missile strike attack on israel from iran. we are told it could be imminent.
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that could mean in the next 24 hours, we will have the latest. we will also want to alert you israeli military announcing the assassination of the commander in charge of weapons transfer from iran and its affiliates to lebanon's hezbollah as they continue to dismantle hezbollah. they've been trying to keep track of the taking out of the prominent leaders that go way beyond the leader, the kingpin of hezbollah. in the course of that time, seven other high-ranking hezbollah officials and another one who is high-ranking, have been taken out. more after this. tals pop and fizz when you throw them back. and who doesn't love a good throwback? ♪ now with vitamin d for the dark days of winter.
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lauren: 1 are getting word of air sirens going on in tel aviv and other cities, israeli cities that the iranian missile strike is on and we don't know much more than that. it was going to be imminent and missiles have been launched from iran, how long it would take to reach any of the key cities including tel aviv and israel including last spring when that attack was on. retired u.s. army general, there, america's war on isis, just the person i
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want to talk to right now. it is on. we know the last time iran was doing this, they fired off 300 missiles, only one hit a target and that sort of shattered in the field if memory serves me right. i don't know how many are involved. what do you know? >> good afternoon. iran feel like they have to respond to because of israel's incursion into southern lebanon and the destruction and decimation of hezbollah senior leadership so this is something iran feels they need to do. not sure it will be the scale we saw in april, 300 missiles and rockets and drones being fired from iran. ideally this is something that israel and the us and its allies can handle but we will see.
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neil: we are warning the israelis that an attack like this was imminent. and everyone is concerning about a widening war, the same day we are learning israel continues to take out hezbollah bigwigs or those who provide arms to them. that's continuing, they are working on parallel tracks here. >> this is a unique opportunity. and it hit hezbollah hard. and 70,000 people have evacuated. it is successful. and as you know has but has been firing with impunity since the day after october 7th,
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october 8th of last year, israel is occupied with operations in gaza and go north and take care of the hezbollah issue. neil: what happens when it comes to those iran looks to for help. might look to russia or china or other players. it is doing this to satisfy the proxies that iran do something in response. that is a delicate balance. >> iran is looking to china and russia for support. iran's strategy, the ring of fire, the syrians to the northeast, iraqi she are in iraq. hamas and gaza to the s. . way s. the houthis, surrounding israel
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with this ring of fire. iran has to look at a new strategy or maybe it is time for iran to sue for peace with saudi arabia and israel. neil: how likely do you think that is? both sides want to flex their muscle at this. is real seems to be on the offense, iran is in that odd position, and very much cower? >> israel is aggressive. the decision-making cycle of the iranian's and hezbollah. iran is not ready for conflict. it may be a unique opportunity,
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looking at a peace agreement, between she a muslim iran and also include israel. may be an opportunity to do that. neil: the ballistic missile attack launching it from iran to key points and israel and tel aviv will take a little while. >> it is. we raise this as the issue with iran. they feel they must do this, the pressure to respond won't be that effective. they are telegraphing it and everybody knows it is coming. neil: we are getting confirmation, picking up attacks on shipping interests around the golf. that was already the case. say they continue doing that.
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we've got hezbollah on the run. hamas badly outmanned and with fewer of them in control they will coordinate something. than the issue is how far does this go? what do you think? >> there is always the threat of a wider conflict. the us is being prudent by keeping the uss abraham lincoln in the region and the uss harry s truman carrier battle groups as an example and more forces too as far as being prudent. the houthis should feel a little bit tough right now. they are in a position to where they may be next. they are trying to fire at us ships, at shipping, that an issue. the world is going to have to
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figure out something with the houthis. neil: israel has this iron dome. it can counter all these missiles, more than 300 launched in the last iranian attack, virtually all were destroyed by israel and the one that got theroux landed in a field with little damage. there is the issue how much the dome can counter if a strike is dramatically bigger. if it is 600 if others participate. but then it gets to be a real test for this unusual global defense. >> yes. the iron dome can be overwhelmed with missiles, even april it wasn't just israel that fought off those missiles. it was israel with the help of
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the us and allies in the region. those missiles, rockets and drones. neil: there's been a tad more coordination, compared to these missile strikes in hezbollah, israel leading all of this and acting on its own without much consultation with the united states. what do you make of that? >> there's been a lot of consultation in the united states especially the intelligence community helping only israel to target different aspects of this operation. the us may not have known about the actual strike on the leader of hezbollah but the us has been involved from a
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consultation standpoint in most of the israeli operations. neil: if you could stay there. iran has confirmed it launched missiles toward israel, the israeli military confirming as you can hear from the sirens that missiles have been launched. we don't know how many. the us seemed to the general's point indications that iran was preparing for such a launch which would be imminent and it is on. we don't know how many missiles are involved. charlie gasparino here. one corner of your screen, the dow had been down double it earlier losses on this officially happening. we want to stress missiles launched do not mean the missile landed to but it does show the fears of an escalating war, and and your thoughts?
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>> the markets i don't believe in expansion for an expansive war. neil: oil is up in and out of $70. their way of saying we don't see this. charles: you have to realize what israel has accomplished going through a ton of oil analysts, geopolitics in the middle east, they essentially illuminated hamas, the job done in gaza but they are laminated hamas. they took out the hezbollah leader based on they did stuff with technology where they know where people live. the markets, that is so impressive. if iran wants to get into a
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tit-for-tat with israel, they know the houses of the mullahs, the country's. they could be taken out. is that an escalation. my guess, the markets are saying that. iran does not want to get into a fight with israel. they will be destroyed. probably easily. if you go there with the technology, they are going to take hezbollah out now, totally, and in one difficult year they have laminated hamas and probably hezbollah. neil: those joining us and wondering what is going on. a coordinated missile attack is on from iran, how many ballistic missiles are involved but iran launch these missiles about 15 minutes ago. in escalation to charlie's point of fears that it shows a
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widening conflict. israel in recent days killed the hezbollah leader, six others have been taken out including a top field commander, that just happened outside beirut. residents in northern israel were told to seek shelter and they could return to their homes and many evacuated after all of this ends. we don't know when it will end or who else or what other proxies might be involved. the major general, so much we don't know but what do you look for in situations like this to get a handle on how bad this could get? >> what's the aftermath of the missile attack? the missiles get through, they
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land, then we could see more escalation from the israeli side. iran doesn't really want this fight and they are not ready for it. in war, all sorts of things could happen. israel is not that larger country. iran is very large country. no one wants that but iran is not ready for this fight. charles: the real thing that will blow away the markets that people i talked about try to gauge the economic impact is iran eventually getting a nuclear weapon? and israel preventing that and that is where this thing gets ramped up. do you see that as happening? is israel telling the world that we are going to take them out if they do do that? >> iran is closer than they ever been to getting a nuclear weapon. time will tell.
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they cannot be allowed to have a nuclear weapon. iran is a bad player in the region. a nuclear iran would be dangerous to the region in the world. lauren: 1 happens? we take it out? israel, possibly the us through threats, back to the negotiating table, they must be forced to and that comes from sanctions, military operations, they must be forced to stop the program that they've accelerated since the end of the deal if you years ago. neil: a few more deals, that include ballistic missile defenses developing with the united states separately, they had this system, a stationary battery that can interrupt a
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lot of surface to surface missiles, other project goals from a range of 200 miles which essentially encompass all of israel. they had that ability. is very limited to what this dome can handle? between conventional and ballistic missiles they handle combinations of 300 or more. do we know the dome's limitations? >> we do. that is classified but it can be overwhelming. that's why you have different levels of protection almost like different screens over israel. includes us aircraft and us air defense systems that are arrayed in the israeli area where us forces are in syria and iraq and other places in the region.
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that can help intercept these missiles. neil: it is interesting, financial times reporter, global market skittish, potential expansion of a war. the idf saying it is doing everything necessary to protect civilians of the state of israel, pressure really is how far iran goes with this. they are the ones who are hurting if they go too far. israel made clear how it can find the players no matter where they are. charles: if the past is a precedent, they stop at this move on. they fight for another day. this is a dicey situation. last thing until they get a
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nuclear bomb, last thing i think they will do is engage israel. every oil analyst that stays up late at night, i'm no expert at this. i have family in tel aviv and reaching out to them, a pitched battle with israel is one of the dumbest things you can do. they can take out everybody's house tomorrow. neil: one of the things they learned, when the idf remarks on this and knew what was coming saying it will do everything necessary to protect civilians and the state of israel, we might add here that it might have poured more salt in the wound because these attacks that were planned in response to the killing, killed
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another top hezbollah official. it has been nine hezbollah officials taken out in airstrikes in the last 72 hours. i don't know how accurate that is but the president of tel aviv telling me this. the fact of the matter is if the irradiance -- iranian's were thinking of a tentative strike in his will, if they stop with a are doing in lebanon where troops have entered and sometimes going house to house to find hezbollah and other parties that help hezbollah, it is doing that. even in an environment where you would think israel is cognizant of the pressure it used to get, they are not cooling it. this is a moment they can seize on. >> over the last two weeks, senior leadership of hezbollah
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has been decapitated. there is immense capability, missiles and rockets, leadership has been decimated. with israel going up north, protecting its border by dealing and buffer zone in southern lebanon, this is a unique opportunity from a military standpoint with hezbollah and what occurred with hamas, it is also unique diplomatic potential and that is to say to iran enough is enough, long-term peace in the middle east and you will be destroyed at some point? neil: more than i can grasp. but you've not seen any condemnation from the so-called
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moderate countries, the opec meeting is on for tomorrow. they want to increase market share, looking at $100 a barrel oil with cheaper price if they can get more, they are doing their thing. borden -- jordan, the fact of the matter is, the modern players, and far more than the issues with israel? >> absolutely. most of the middle east is sunni muslims. they absolutely cannot stand iran, worse than their feelings for israel. that's why if you want underlying peace in the region, two things must happen. one is a real peace agreement. and that was mainly between saudi arabia and iran and acknowledging peace with israel.
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that can happen. very difficult. charles: how would you rate the biden administration's sort of response to israel since october 7th. seems to me it has been, they asked israel to pull back at every chance. israel has ignored them and achieved their strategic objectives. is this a failure on the us part to step in and do something concrete? >> it's a mixed record. as far as their support, diplomatic support, at some point, like the saying goes,
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israel has a unique opportunity with the killing -- hezbollah in 32 years, a unique opportunity. 50 you heard from the us is a cease-fire, no you don't is what you want is to take care of business in southern lebanon. anytime you want to stop hezbollah from firing missiles at innocents. lauren: 1 do you think of that? rob: particularly might be taking advantage of the relationship for the united states where president biden is still president, but he's a lame-duck president sitting out the election, the vice president is running for the democratic nomination to be president. maybe seizing on that in this moment to do what benjamin netanyahu says he has to do. what do you think?
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>> prime minister benjamin netanyahu is taking advantage of the fact we have a lame-duck president but he knows he has the backing of congress but he has an opportunity between now and the election but the inauguration of the next president. you can take advantage of that and what he's doing and what is happening on the ground. the us will be in support of that. neil: we have 40,000 troops in this region. we added a few thousand over the last couple of weeks. that's a lot of troops. they are on the highest of alerts. i understand that. what do you think? >> it is being prudent. it is protection for our own troops. there is also additional protection, air defense capability with two carrier battle groups, that's more air defense capability that can help israel too. neil: we are learning that
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iran's foreign minister is saying that right now that tehran wants a political action, and other moderate countries. and doing something in response to that. >> words or actions. these attacks against israel and us forces in the region through their proxies. that's got to stop. neil: thank you very much. iran's foreign minister talking to the financial time saying collective action is something we can -- thank you. we can handle. i want to go to brian in "the big money show" guys
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