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tv   Varney Company  FOX Business  October 9, 2024 10:00am-11:00am EDT

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stuart: it is 10:00 on the east coast, wednesday october 9th and we are tracking hurricane milton, now category 4 storm, hours away from hitting florida's gulf coast, mass evacuations are underway. the national hurricane center is warning about life-threatening storm surges of 10 to 15 feet. we will bring you the latest as it comes into us. quick check of the markets, not much action except for the dow industrials. a couple stocks up there because the dow is up 153 points. the 10 year treasury yield above 4% and rising. oil coming down a bit, $72 a barrel. bitcoin 60 one thousand $700 a coin a coin. that's the markets. now this. this week, kamala harris did a serious interview with 60 minutes, and three chaty:-)sit downs with of you, stephen colbert and howard stern.
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a lot of contrast. she concealed her true policy positions on 60 minutes, she revealed her personal side with the others. that are delivered strategy. ignore the failures of her years with biden, bringing out the positives of the younger candidate eager for change. with colbert she drank a beer. it was miller high life brood of course and about ground state of wisconsin. with howard stern she giddily described going to a u2 concert at the sphere in vegas. she works out on an elliptical machine in the mornings while watching msnbc and eat special k for breakfast. on the view after a rapturous reception she was asked a serious question. would she have done anything different in the past four years had she been the president, she said nothing really comes to mind. that was a duck. heaven forbid she gets into any admission of failure. just as these soft interviews went out millions of people face catastrophe from hurricanes.
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they want to know why fema is short of money. and afghan admitted on a special visa from the biden/harris administration was charged with plotting a terror attack on election day. nothing must spoil the youthful positive image of joy. you have to wonder if the voters will go for the personal side of politics which shares projects, her smile, laugh, soft, gentle understanding. today when crisis looms from every which way voters may prefer the direct, assertive confidence of donald trump, you always know where he stands. second hour of varney just getting started. guy benson. make the call. will voters by the soft, gentle, personal side of harris or the combat of assertive side of trump? which way is it going to go? >> just a few daughters having
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to make that choice, probably 46% have absolutely made up their minds killed in stone, they know how they will vote and doesn't matter what the personalities are. in some cases what the policies are. they are going to vote for their team. it is those people in the middle. a lot of those people absolutely want change. they feel the direction of the country is very much on the wrong track which is why the answer you just mentioned on the view i think is more than just a dodge, i think it is quite damaging for her. this was an opportunity for kamala harris to actually put just a little bit of meat on the bones of this idea that she wants to move on from biden or break from him in some way what she had not done and the whole thrust of the trump campaign, their number one argument against her because of that small group of swing voters is she is a failed continuation of the status quo biden/harris. here it was on a silver platter from the friendliest possible interviewer in the friendliest possible setting. how would you have done may be
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one thing, even one thing differently than joe biden, in the last four years. there is a buffet of things you could think of, that was unpopular, that was unpopular, i could put some daylight here, she looked like she had never contemplated the question before, she looked up to the rafters and she said not a thing comes to mind and boasted she was in the room for all the consequential decisions. that is the most spectacular soundbite from the trump campaign's perspective that they could possibly have scripted and she said it and went on colbert hours later and he asked her a very similar question and she did a word salad about how inspired she is by aspirations. it's breathtaking. stuart: you are right. i didn't pick up on that as i should have. now i want you to listen to what cnn's senior day reporter said about potential polling errors like the ones we had in 2020.
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>> let's say we have appalling miss like we had in 2020. what happens then? donald trump wins the election in a blowout with 312 electoral votes because he carries all these great lake battleground states plus the other states in arizona, north carolina and georgia. stuart: do you think trump has a silent majority? >> that's the biggest question of this election. i would issue this admonition to conservatives, republicans, just because there's appalling miss that end up favoring trump in 2016 and 2020 does not mean it will happen again in 2024 but it very well might because just the pollsters have not figured out what they got wrong multiple times with him on the ballot and i have been looking at this now for weeks. if you look at the real clear politics average, in mid october, in 2016, hillary clinton was up 7 points. she won the national vote by
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two and lost the election. four years ago around mid-october joe biden was up 10 points and no real clear politics average nationally, went on to win by four and came within 45,000 votes in three swing states of losing the electoral college anyway. wisconsin was ground 0 polling misses, if we get even close to the ballpark of those types of polling misses this time around given the current status of the polls and averages he would win. we appreciate it. elon musk's super pac reportedly spending millions to help republicans in key house races. which races are getting real money. >> the biggest are those in california and new york but overall the focus is on key house districts where democrats are spending big in order to flip the house, most competitive races.
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how stems are better funded than house republicans. overall the gop's leadership fund has put one hundred $40 million into ads in competitive districts, the democratic house majority pac has spent $180 million. that is where the pac fills the gap. they are impact has spent 8 million since mid-september. supporting races across 18 districts that are highly competitive. i'm showing the top amount so you are seeing mike lawler in new york has gotten the most amount. ken calvert and michelle stealing california also getting a lot of money. in new york and los angeles media markets, much more extensive there. when it comes to elon musk, he's become a big republican donor. he is now one of the largest donors in the congressional race. stuart: with money like that you've got influence. what is tim walz saying about the electoral college? lauren: he called for the limitation of the electoral
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college during a fundraiser in california at gavin newsom's home in sacramento. tim walz the saying i think all of us know the electoral college needs to go. we need a national popular vote but that's not the world we live in. this was a move democrats have advocated for in the past after what you were talking about, hillary clinton popular vote versus electoral college vote, but the harris/walls campaign were quick to correct or saying to fox news digital, quote, governor tim walz believes every vote matters in the electoral college and he is honored to be traveling the country and battleground states working to earn support for the harris tim walz ticket. a little history, the electoral college was created by the founding fathers in an effort to make sure large states didn't dominate smaller ones in presidential elections and we'll too much power. we when you need a constitutional amendment, change the constitution. thanks very much.
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let's get back to the markets, the biggest gainers on the dow accounting for some of this again, what goldman, unitedhealth and caterpillar all up sharply, dow is up 158 points. tom hayes joins me now. you watch the market for us, we have the cpi, consumer price index, expected to go up 2.3% year over year. if it does that does the market rally? >> i think it's good for the market. the thing i learned over the years is the secret to happiness in life is low expectations. we've got a low inflation number at 2.3% which is consistent with what is expected of the fed in november, 87% chance of 25 basis point cut, 70% chance of 25 basis point cut in december so as long as the number is in the neighborhood of 2. 3% they will follow through with those cuts, that add liquidity to the market and may
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be a few bumps in october but going to year end we are fine and the fed will follow through with those cuts. stuart: so the market rallies. >> the market will go up on balance before the end of the year. does it rally the next minute? perhaps. the key is liquidity coming from everywhere around the world, we had the most amount of central bank cuts happen since 2020, and 2009. stuart: you make a big distinction between the magnificent seven, almost solve, not quite stalled but not making the gains they were versus the other 493 stocks in the s&p 500. that is where you want to put the money, right? >> that's right. you don't want to swim against the tide. we started the year the magnuson seven had 50% earnings growth, they are down to the midteens earnings growth whereas the not magnificent 493 had negative earnings growth until the most recent quarter, they started to inflict positive and as the trend continues they will be admitted teens earnings growth the next couple quarters. that's where the money will be made.
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they are still stocks down 50%, 60%, 70% that are great companies that are going to be doubles over the next two or three years. blue when we understand, thanks for joining us. ashley, good morning to you. you are looking at the movers. boeing is a mover down 2.3%. what's going on? >> the company withdrew its contract offer for for 33,000 machinists who have been on strike since mid-september. after talks broke down again this week boeing says further negotiations don't make sense at this point so that means the strike will continue. the stock down 2. 3%. 3%. next up, home depot and lowe's upgraded both of them from hold to abide. they cited recent store checks and conversations with management that indicate demand in the home improvement sector.
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going to 360, already at 415. they raised lowe's price target to 300, lowe's at 275. let's think about the cruise lines surging today, city just upgraded norwegian to a bar while pointing to the potential for bigger earnings upside plus multiple expansions, also issuing a positive royal caribbean on the expectation that the upcoming earnings report will include a long-term strategy, norwegian up 8%. smooth sailing as they say. stuart: suddenly all the analysts love cruising, don't they? thank you very much. election day terror plot has been foiled, the afghan man behind it has been arrested and the end of the us right after the botched afghan withdrawal. netanyahu says hezbollah's leader and his replacement, replacement have all been killed.
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don't know how many replacement candidates have been killed but quite a few of them. we have the latest in israel. hurricane milton is approaching florida. our next guest is in its direct path and still recovering from helene. he will tell his story after this. curiosity light the way. asking smart questions about opportunities like ai. and how the industries born to support ai might better support us all. better questions. better outcomes.
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stuart: florida governor desantis giving an update on hurricane milton. so far he has said this. he is in regular contact with biden, 20 other states are assisting florida at of the storm, 3,000 national guardsmen from other states are also helping. florida has, he says,
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considerable fuel reserves. check the market please. we've got a nice gain for the dow industrials still up 100 points. small gain for the s&p, nasdaq up 13 points. look at mattel, for the first time mattel's hot wheels brand and formula one are partnering, the first one hot wheels car will be released later this year, not doing much for the stock. back to the hurricane, back to milton, it is excited to make landfall later tonight. mary is in orlando, florida. orlando is not under mandatory evacuations. are some people leaving? >> reporter: people are hunkering down. there are a lot of storm shelters, officials are telling people if you don't go to a storm shelter, make sure you have a plan in place we get flash flooding. what we are dealing with in
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orlando is completely different beast compared to what they are dealing with on the west coast of florida. somewhere along the west coast between tampa, sarasota and venice beach, it's going to go under 12 plus feet of storm surge which is a really bad situation and it would be historic. this is a very weird storm taking a path we haven't seen in modern history, this west to east path. we've seen storms as strong make landfall bad as far as different impacts we will see coming in orlando we started nice and quiet, there wasn't any wind at all, now you see the wind is starting to dust 10 to 20 miles an hour, that will deteriorate as we get deeper into the night. will be a bad, bad storm. stuart: we will remember it. now this. my next guest is a florida resident in the path of hurricane milton who is urging others to get out now. he has been suffering through helene for the past week. chuck fuller lives on treasure island, florida and joined me
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now. i want you to tell us the emotional response you've got now because you've been devastated by helene and now you've got milton bearing down on you. what is your emotional feeling at this moment? >> thank you for having me. not only emotionally but physically my wife and i are both taxed. we live on treasure island, barrier islands, we are three feet above sea level. we evacuated two miles away from the beach, but we are 30 feet above sea level which makes a big difference when you talk about surge. we been on the barrier island for 12 years and never evacuated. we have been very lucky. we've had some wind damage, minor flooding and power outages but two weeks ago with helene we stayed at our place and within 20 minutes, 5 to 8 foot surge, a storm that was one hundred miles offshore we had four feet of water flowing through our bottom level, our
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garage and what we call the bonus room. spent days and days taking the debris outside, cutting off the drywall. we thought we had it under control, watching milton, hearing all the reports, this could be the storm of the century for the west coast of florida. we had to get out and i urge anybody that sees this, years this and are still on the barrier islands it is time to leave. this is a very serious storm like a reporter just said from orlando and it depends on the track. if it tracks a little south of us we won't see as much surge. we will have wind and rain. if it tracks north when i wall comes up it will be devastation. they talk about a 10 to 15 foot surge we will be wiped out. stuart: quick question. are you seeing boots on the ground from the government? have you seen fema people in your area? >> i don't want to laugh.
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little bit of levity could be a good thing at this time. let me say the local municipalities have been wonderful. governor desantis on the state level short of a miracle what he's done. funny you mentioned that. fema, a representative from fema met with my wife, showed her around, took some notes and said there's not much we can do which you can file your claims which we have our home offices down there. if you lost a desk we will give you $100, no kidding, you can go to goodwill and find another one. 750 is what they offered us. we haven't seen that so no. to answer your question we've not seen anybody other than the one person from fema on the ground. it has been local and state. for instance, they had a caravan of 30 dump trucks on the island yesterday being escorted by pinal county sheriff's loading and leaving because it is the debris that
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is all around that is really serious, project goals. stuart: we are going to leave it right there but thanks for being with us and we are glad you have moved to a position of safety. good to see it. we are going to take a look at the airlines how they are handling this hurricane. we got stocks up on the screen. what more do you have on this? ashley: it will not reopen, until it is safe to do so. orlando also one of the nation's busiest airports closed at 8 am eastern, thousands of canceled flights, the domino effect, airport operations will resume as soon as possible based on damage assessment. 750 orlando flights have been canceled. only those early morning
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flights managed to operate. according to flight aware, 2000 flights have already been canceled today, that will continue to climb. ahead of the storm, united, jetblue and air canada added extra capacity to move people out of florida. president biden issued a warning to the airlines not to overcharge people fleeing from the storm. no price gouging although most carriers including delta say they have kept their fares. stuart: coming up kamala harris asked who is america's number one adversary. >> which foreign country do you consider to be our greatest adversary? >> there's an obvious one in mind which is iran. iran has american blood on their hands. blue one not russia, not china, iran. more on that coming up. today president biden will talk to benjamin netanyahu about iran.
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♪ i need another corndog! stuart: florida governor ron desantis has finished giving update on milton. he said the following. if you have a short distance to go to evacuate you are safe.
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if you have a long distance it might be too late. mandatory evacuations are in place. that's an ongoing update. a couple stocks are moving but the rest are not that much. s&p up 11. nasdaq is up 42. big inflation numbers tomorrow. you are looking at some of the movers. i want to know what's going on. ashley: they are trying to improve artificial intelligence in the annie's -- they will integrate ai into their applications and improve industrial sensors but stock is up 1.5%. look at lithium. they agreed to be acquired by rio tinto in an all cash deal valued at $6.7 billion.
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cd cal one put a price target on julie. they say it's going up to $38 a share, touting their share of the market, more growth on the horizon. they likely online model. pets is a big business, billions of dollars spent, stock is up 3.4%. stuart: a booming industry. president biden and benjamin netanyahu hold a crucial phone call about iran. nate foy is in tel aviv. do we know what this is about? >> the first known call between the two leaders since august and we know benjamin netanyahu demanded the meeting with biden before allowing the defense minister to visit the united states. a key topic of discussion of course will be how israel responds to iran and domestic
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ballistic missile attack that happened a week ago but we are learning this afternoon about a rocket attack in northern israel. look at this video as it is confirmed the two people have been killed as a result of this. hezbollah launching hundred of rockets every day, sirens continue ringing in northern israel this hour. meanwhile terror attack unfolded north of tel aviv, six people were stabbed, police say the terrorists drove off on a scooter was found and shot by police which overnight, israeli airstrike hit damascus, syria. they targeted a building and hezbollah commanders in beirut, also continues to get pummeled by airstrikes. this is a hezbollah stronghold. netanyahu says they normally kill the hezbollah leader but two people set to take power behind him. the idea of says it found a
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hezbollah weapons storage facility in southern lebanon as the ground incursion continues. airstrikes it is series of underground hezbollah command centers as well. the deputy chief of hezbollah is publicly endorsing cease-fire talks. it happened within hours of hezbollah launching hundred rockets at the northern israel city. also in cairo, egypt representatives of hamas, the party of palestinian authority president mark lowder boss our meeting to discuss the governance of gaza and the management of the border crossings there after the war ends. stuart: thanks very much indeed. dan hoffman is a former cia station chief who joins me now. i want to know what's going on here. president biden wants to control his relapse response to iran and benjamin netanyahu is having none of it. is that where it stands? >> there's an uncomfortable
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amount of daylight between the biden administration at the political level and israel. i want to make clear that i think our respective intelligence communities and militaries are functioning extremely well together and coordinating closely but the biden administration, the president himself has advocated for de-escalating and proportional strikes on iran and on terrorist targets where is israel is seeking to restore escalation dominance and they know they have got to respond with disproportionate strikes. there is no such thing as the printable of proportionality when dealing with terrorists. blue one benjamin netanyahu said his forces have killed the successor to the slain hezbollah leader. israel has gained ground. a lot of ground, not physically but in the war against hezbollah, they are winning. >> they are taking the fight to the enemy. after creating a fog of war by
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destroying has 's communications they have decimated hezbollah's leadership. the latest was the number 2, had been in that position since 2008 and israel is also taking the fight to hezbollah's rocket launcher capability and they are going below apartment building similar to the way hamas operates in gaza to root out hezbollah fighters had their military capabilities, long, painstaking process but remember that hezbollah has been launching rockets on israel since last october 7, 2023, and forced over 60,000 to evacuate from the north and israel couldn't stand that any longer rightly so. stuart: in your judgment, will israel attack iran's nukes and or their oil facilities? in other words dramatic action? are they going to do it?
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>> israel has a number of options including targets, including iran's energy infrastructure, iran's leadership, their military and potentially the nuclear program. i think they are all on the table even though president biden said nuclear targets should be off the table. israel is fighting this alone and they are fine to do it. i don't know that this will be the last series of strikes. we been in escalatory tit-for-tat straight counterstrike between israel and iran as well as iran's proxies and israel is demonstrating that iran is incapable of defending their proxies from israel and i think we may see israel strike and others are targeted if iran strikes that, israel may proceed with further strikes there's every opportunity on the table for israel. iran at its proxies are weaker than ever before israel sees an opportunity to degrade iran in their proxies so they don't have to deal with a future october 7th.
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stuart: back to the election in the united states. early voting kicked off in arizona. tim walz and a 11 will hold dueling events in the same town, this was not in kamala harris's original 60 minutes interview. watch. >> the work that we have done has resulted in a number of movements in that region by israel that were very much prompted by our advocacy. stuart: that was taken out. donald trump wants the whole unedited interview released. that is next. ♪ ♪
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fisher investments: yes. we make them a top priority, by getting to know their finances, family, health, lifestyle and more. (other money manager) wow, maybe we are different. (fisher investments) at fisher investments, we're clearly different. stuart: we are going to show oliva look at ana maria near sarasota on the gold coast of florida. you can see the hurricane milton is churning up the ocean, it is approaching the coast of florida, get there in a few hours. you can already see it is almost there. check the markets please. not much movement ahead of the inflation numbers but they are all in the green, dow is up
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100, 12 for the s&p, 33 for the nasdaq. paypal, i've got to tell you they announced a new highly requested feature that allows users to schedule one time or recurring payments. today, j.d. vance and tim walz will hold dueling rallies in arizona to mark the state taking off early voting. richardson in scottsdale. is this the first battleground state where voters can go in persons the polling station right now? >> reporter: it sure is. it starts in an hour in arizona, 9:00 a.m. local time, one hour and 20 minutes is when it all begins here. the first swing state to allow that early in person voting level. they are marking that, both vice presidential candidates are in the state. vice presidential candidate and tim walz on the republican
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side, he has landed here as has minnesota governor tim walz. both are holding campaign rallies to dan our to have southeast of here in tucson before landing in arizona tim walz was at a fundraiser in california where he advocated replacing the electoral college with a national popular vote. an event in phoenix, the campaign says that her ninth trip here. first lady jill biden will campaigning for harris in yuma, then on sunday donald trump hold a rally in prescott valley. a newly released aarp poll shows a narrow race, probably terrorists 49 to 47% with 1% supporting other candidates. harris is trying for 2 or over democrats in arizona. in 2020 president biden became the first democrat to carry the state since president bill clinton in 1996. biden won by fewer than 11,000 votes. the candidates have been hitting the sun belt states your, nevada, georgia, north
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carolina. more paths to victory if result in the upper midwest blue all states. also in nevada and arizona we've got a senate race here. republican carrie like running across ruben gallego having their first and only debate televised tonight. stuart: donald trump's campaign wants cbs news to release the unedited transcript from kamala harris's interview with 60 minutes. what is this about? >> reporter: they feel cbs edited the interview so she sounded more coherent. the reason we know it was edited is 60 minutes teased the interview with an ex post on sunday. mark whitaker pushed harris on whether the us lacks influence over benjamin netanyahu. let's take a look at the post that was put out on sunday, listen. >> it seems prime minister
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benjamin netanyahu was not listening. >> the work that we have done has resulted in a number of movements in that region by israel that were very much prompted by or a result of many things including advocacy for what happening in the region. >> that was posted sunday on x. let's take a listen to the same question, here's what made the air on 60 minutes on monday. >> it seems prime minister netanyahu is not listening. >> we are not going to stop pursuing what is necessary for the united states, to be clear about where we stand on the need for this war to end. >> has with the trump campaign had to say. on sunday 60 minutes to use kamala's highly anticipated sitdown interview with this epic word salad, i'm having one
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myself, received significant criticism on social media. during the full interview on monday evening, the word salad was deceptively edited to lessen kamala's idiotic response, the american people deserve the full unedited transcript from kamala's sitdown interview. the trump campaign now wondering what else was left on the cutting room floor. i wanted to show it that way so you could see the question asked in her response and this was all from cbs, they posted it on x and aired on monday so no editing on our part. that is the actual -- stuart: cbs edited the tape in favor of kamala harris. we watched it so you decide. stuart: thanks. another hurricane heading to florida, the administration is saying if you criticize their response you are guilty of misinformation or disinformation. how about that? "my take" top of the our. are these storms going to make it unaffordable for residents to ensure their homes in florida? that's next.
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for the s&p and the nasdaq, all in the green. the price of oil coming down to $72 a barrel off a buck. fema is running low on staffers as milton heads toward florida. grady trumbull at the white house. how that is the staffing shortage? >> reporter: the number of people with fema's incident response team who normally reply or respond after hurricanes like milton, those numbers are well below the normal averages, take a look at the numbers from fema's daily operations briefing, you can see right around 8% of that incident management team is available to be deployed after milton. that's just around 1100 people, the new york times says typically that number is around 25%, part of the reason for this is about 7900 of fema's folks are tied up helping with other natural disasters notably they are deployed after hurricane helenian states like north carolina, south carolina, georgia, florida and alabama.
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but fema's staffing concerns are not a new problem. a government account ability office report from last year raised concerns about fema's staffing revealing a 35% shortfall. it says employees were burning out and leaving in part because of an increase in natural disasters they have got to respond to. despite all of these concerns about staffing and funding here is fema saying it is prepared for this hurricane. >> this is going to be hard. two massive storms have come our way and only a matter of weeks. this is what we do. fema is ready. we are here to help people, we are here to save lives and that's exactly what we are postured to do for these incidents. >> fema says it will be utilizing other federal agencies to help out. it also says it has folks who don't normally respond to
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disasters but who are trained to do that who are going to be surged into florida after this storm to help out. they say they are ready. we will see how it goes. stuart: thank you very much indeed. real estate guy mitch rishel joins me now. are these storms going to make it unaffordable for residents of florida to ensure their homes? >> i think right now it is unaffordable for many floridians to ensure their homes. the last 2 or 3 years as a result of other storms the premiums have skyrocketed and some companies have dropped their insurance and said we won't ensure you because there is too much risk. fast forward, two massive acts of god hitting florida, it could be an epic wipeout of people's ability to afford insurance. stuart: with that not be a serious impediment to florida's real estate boom? housing has done well in florida, values have gone up.
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is this storm going to it off or lead to price declines? >> storms in general have people rethinking where they want to live. the thing that is interesting is people have decided they weren't going to move to florida because florida's insurance was too expensive and you know where they started to go? north carolina. i think people are going to realize storms are a reality and it's going to cool off the demand for housing but when you realize what your income taxes are like or property taxes are like in some of these blue states it will cycle back post storm may be a year from now people will come back to the conclusion they reached in the first place but in the short run 100%. stuart: last week, you said one of the ways to get around this is to cut your deductible or raise your deductible.
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that's the only solution, the only answer here? >> the only way to make it more affordable to be partners with your insurance company and raise the deductible to something unspeakable, as high as $50,000 could lower your premiums dramatically but the other thing you have to remember is flood insurance, here we have a situation with wind and flood. flood insurance is only provided by fema, based on the report from grady fema is a hot mess to begin with and fema barred $20 million in the treasury to bail out the insurance program. stuart: thanks for joining us. all good stuff today. a difficult situation. still ahead. liz peek on kamala harris's media blitz. 's policy being dismissed over personal stories? which tax plan is better for
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