tv Varney Company FOX Business November 5, 2024 9:00am-10:00am EST
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indeed you do. sponsored jobs on indeed are two and a half times faster to first hire. visit indeed.com/hire maria: welcome back. 30 minutes before the opening bell sounds for election day tuesday, check futures we're looking at fractional gains this morning pretty much across-the-board and check out palontier stock, stock is on fire after much better-than-expected earnings, shout out to michael lee from michael lee strategy whose always predicting this stock will go up, he loves the stock. thank, everybody, chris mcmahon and cheryl casone, we will send it over to "varney" & company right now. stuart: i'll take it good morning, maria, good morning, everyone. is this the most consequential election or what?
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two very different people with very different views on how america should be governed. the candidates have wrapped up their campaigns. donald trump was still on the stage at 2:00 in the morning. he was addressing a rally in grand rapids, michigan. that's where he ended his campaign in 2016. it was his fourth rally of the day but energetic to the end. joined by his family he promised to fix problems and he will be voting at 11 eastern in palm beach, florida. kamala harris closed out her campaign surrounded by celebrities. oprah winfrey said if trump wins this could be the last election we'll see. harris said, the true measure of the leader is not who beat you down, but who lifts you up. she spoke on a stage at the rocky steps scene of the movie. it's in philadelphia. she spent the whole day in pennsylvania, considered the must-win state so what's happening on the markets on election day? actually some modest buying. the dow, s&p, nasdaq, all in
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the green slightly. one stand-out, palontier. several analysts on this program have backed it strongly after a blow-out earnings report it's going straight up a gain of 16%. now look at djt, a stock that acts as a proxy for trump support. it is up today 9%. little change for bitcoin, 68,000 bucks a coin. little change for interest rates, the 10 year coming in with a yield of 432 up slightly. the two-year last i pegged at 416, is now 419 yields going up. gold approaching 2,750 per ounce, or 2,754, and on the show today, we will try to tell you when we might get some results. different states have different rules for counting mail-in ballots. there may be some delays but there's a landslide either way, the trend and the likely result, could come late tonight. we see lines at some polling stations, the excitement is building, and this is election day, november 5, 2024. "varney" & company is about to
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begin. >> are you better off now than you were four years ago? >> no! >> we do not have to live this way. >> we need everyone to vote in pennsylvania, and you will decide the outcome of this election. and tonight, then we finish as we started, with optimism, with energy, with joy. >> [applause] >> knowing, knowing that we, the people, have the power to shape our future. >> this is the last one that we're going to have to do and doing four of these in one-day
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is a little difficult, but not really, because the love in every one of them has been incredible. stuart: there you have it. yes it is election day. both candidates made their final pitches to voters. marc thiessen. here with me in new york city right now. i've got to tell you this. the new york times says characterizing trump last night, a grim trump and an upbeat harris end the race hitting opposite notes. what say you? >> great objective journalism from the new york times. if anybodies been campaigning with joy its been trump. he's making fries at mcdonald's, riding the garbage truck, wearing his orange vest on the campaign trail. he seems joyful. biden is calling trump supporters garbage, she's calling them nazis and saying he's a fascist we're about to have a dictatorship. she promised joy. where is the joy? trump has the joy. stuart: he passed it over to trump i guess. >> exactly. stuart: harris tried to get a let's get out the vote chant. she tried to get it started last night. here is the results.
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>> let's get out the vote. let's get out the vote. let's get out the vote. let's get out the vote. >> [chanting] flus>> let's win. stuart: harris can't handle a crowd like trump. that was pretty bad. >> it was and unfortunately it's not the only incident like that. look, whatever happens tonight, history is going to be made because if donald trump wins, he will be the first president since 1892 to lose the white house and then gain it back four years later. the last one was grover cleveland who lost to benjamin harrison and came back and won it and became the 25th and 27th president. if she wins she will be own the second sitting vice president in 188 years to win the presidency. you have to go all the way back to martin van buref in 1836 but the only one between now and then was george h. w. bush and he won because people wanted
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another reagan term. nobody wants another biden term or he be the nominee so she has to pull of something very difficult which is the sitting vice president of the most unpopular presidential administration since world war ii and she is still in it. she could win this still. stuart: crunch time. your prediction, please? >> i have no idea. i'm going to be honest with you. i don't think anybody knows. stuart: and on the set with me. thank you very much marc thiessen. , you're all ready. now this. a big endorsement for trump coming at the elections 11th hour from joe rogan. all right, lauren. what did rogan say that made him endorse trump? lauren: two words, elon musk. rogan writes, the great and powerful elon musk, if it wasn't for him, we'd be explitive. he makes a compelling case for trump and every step of the way for the record yes it's an endorsement of trump enjoy the podcast and on that podcast musk said, if trump loses,
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"this is the last election." listen here. >> well i'll say it again, man. i think this is the last election if trump doesn't win, this is the last election. >> i think you're right. >> yeah. >> i think you're right. i think people and a lot of people are waking up and realizing that it be life long democrat guys like bill acman, tulsi gabbard switched over, so there's a lot of people left have been left and they realize like i can't do this. >> you and i used to be democrats. >> yeah. >> it's nuts. lauren: democrats often say that trump is the end of democracy. elon musk is saying the opposite, so i continued listening to that podcast. he said democrats efforts to legalize illegals in the swing states is the effort to make them democrat strongholds essentially to "turn them into california." anyway, donald trump ran with rogan's 11th hour endorsement.
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>> i just came over the wires that joe rogan just endorsed me. >> [applause] >> thank you, joe. >> [applause] >> that's so nice. and he doesn't do that. lauren: doesn't move the needle, right? does the world's most influential podcaster who has an audience of mostly younger men get those younger men who might not have voted to get in line today. stuart: it was the 11th hour endorsement let's see if it works out. a reminder, of course fox business special election coverage kicks off tonight, 5 p.m. eastern. you know, we better get to the markets we have the money today check futures all green across the screen but not by much but at least there is some green. look whose here for election day. kevin o'leary, the man himself. you know what i want from you? i want financial advice to voters, financial advice to voters on this election day. >> it's an usual period, stuart, because we also have a
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fed decision coming up that's been overshadowed by the election, the fed decision really matters, people are anticipating another fed cut, as much as 50 basis points. i'm not sure we'll get it. maybe 25, maybe nothing. in times of volatility is also times of opportunity. i have to admitt i have a lot of cash sitting on the sidelines i've been working on this the last couple months working with my team saying look if trump wins, we gotta go long energy because the pe's are the lowest of the all 11 sectors of the economy. it has been crushed by regulation and i think it'll be deregulated because of his idea of using lower energy prices to get inflation down. so that interests me and that means a lot of lifting of permitting so maybe the markets opened up. i'll go long with the structure of energy if trump wins so i've got to have cash aside for that. i like that sector a lot. stuart: the market doesn't seem to mind the possible delay in getting election results. i mean there is quite a likelihood of a delay here, but
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the markets up this morning. >> i don't think we'll have a delay. i think the swing states and it's predicting now and everybody has the risk when they do this but i predict that the swing states will go one way or the other and we'll know the election tonight by 3:00 in the morning and because listen. it's just a feel. i've been jumping all over the country lately and i think that this idea that pollsters know what's going on, when the sample sets are 800 and 1,200 people and margin for error is 4.7% it's ridiculous. someone will take this tonight. that's what's going to happen. stuart: so if there is a swing, a big swing, either way, a landslide, either way, we'll get results tonight. >> yes, definitive results and i have to work with with whoever is in the white house so i would prefer a less regulated economy, a lower tax economy, obviously as an investor. if you raise corporate taxes, which i don't think will happen if harris gets in. they just won't let her do it from 21 to 28 that'll be the largest tax increase against
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the s&p 500 earnings in history. no one has ever done that before. you would wipe out a huge chunk of american earnings and everybody's savings accounts. that's never going to happen. and that's the trouble with her platform. listen i have crazy ideas that'll never happen. don't worry, i have mark cuban telling me it's not going to happen. well why do you have to say it in the first place? i'm a little frustrated with that. stuart: i don't think it's going to happen because the republicans will take the senate and that's where they can stymie any tax increase harris may come up with. >> or soviet style price controls is a crazy idea so these ideas even if she gets in will never happen but it's a weird way to run a platform to say i'm going to say the things i have to say but don't worry. they will never happen. that's basically what she did. stuart: kevin thank you very much for being here and you're staying with me for the hour. >> i'm so excited. >> kicking me out. stuart: you're here for the duration. >> i'm staying for the whole show. stuart: if you're not careful. harris ending her campaign with
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a star-studded concert, but, hold on. cnn's van jones is nervous. >> i don't like these big star-studded events. they don't have, i can't show where they helped us win. in fact, probably helped us lose last time. stuart: whoa! kayleigh mcenany on that, she's on the show just a little later on. trump making a play for latin one swing state most latino city, redding, pennsylvania. >> if we win pennsylvania, we win the whole ball of wax. it's very easy, simple question. are you better off now than you were four years ago? >> [applause] stuart: florida senator marco rubio was at the rally in redding, pennsylvania and he joins us after this. ♪
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stuart: we're breaking in has just voted in cincinnati, ohio. listen in. >> if you want the policies of donald j. trump in the united states senate, then bernie marino is the only candidate who i think is the candidate of peace and prosperity for the united states senate so i hope people will get president trump over the finish line and people in ohio will get bernie marino over the finish line. i feel good about this race. i felt good about my own race a couple of years ago when i voted in this exact same spot. hopefully it goes as well for president trump and as it went for me a couple of years ago in the state of ohio so i appreciate you guys being here, happy to take a few questions. you obviously can see my kids bouncing around here. and you know, we'll take a few questions but we're going to hit the road and go back home and head off to palm beach. >> senator, regardless of the results tonight probably won't be satisfied with
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the votes. what's your message to the democrats? potentially you your supporters. stuart: okay, we'll listen in for any headlines and get them to you if he makes headline news. pennsylvania, so ohio, now pennsylvania undoubtedly one of the most important states in this cycle. many believe it will decide the election. bryan llenas is in the keystone state for us. how is turnout so far, brian? reporter: stuart good morning. well here in bucks the county, a pilaphiladelphia suburb, turn os steady. we're talking about 150-200 people that wanted to get voting out of the way. we spoke to one man who got here at 5:20 in the morning because he was excited to vote for former president trump. now, both campaigns have spent a ton of time here in pennsylvania including the final hours trying to get out the vote. we spoke to a couple of voters from both sides who showed up early.
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>> i'm voting for the vice president, she's going to make a difference in my life, whereas things will be much cheaper and give me a place to live, a home, and we won't be struggling. >> i voted for trump because i don't want the same four years that we had. the price of fuel has doubled on me. gr.groceries have gone up. border's open. reporter: and now we have a live look inside of a philadelphia warehouse, where mail-in ballots are now being processed. this process began at 7:00 a.m. this morning. they are now opening up the envelopes, taking out the ballots, and placing them in machines, and at 8:00 p.m. tonight they will start tallying those and we'll get that first wave of votes. now this is a process that in 2020 took some four days to go through. there's the video of inside of that warehouse in philadelphia. they expect the process this year to take less time. they are optimistic about that.
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the reason is they have more money that has been spent on machines. they have experience. they have done this before since 2020, and they have more manpower and so and there are far few, there are less mail-in ballots this time around than there were in 2020. 1.8 million this time, and there were over 2.7 in 2020, 2.7 million so we're hopefully going to get a result here that won't take four days, stuart, but all eyes continue to be on pennsylvania. not just for the trump and harris campaign, but also for that senate race, dave mccormick versus bob casey, bucks county, all eyes on this county a 50/50 split and important suburb and if republicans win they have to do well here. stuart? stuart: bryan llenas, thanks very much. florida senator marco rubio joined trump at his rally in redding, pennsylvania last night. watch this. >> the whole country is going to be watching you and what's done here and what happens here, because it's going to determine not simply the outcome of
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this election. not just the next four years in our country, but i honestly and deeply and truly believe it'll help determine what kind of country our children, our grandchildren and future generations of americans will inherit. stuart: well senator rubio joins us now. welcome to the program, good to have you with us. >> good to be with you. stuart: redding, pennsylvania, is over 70% latino. do the hispanics win it for trump in pennsylvania? >> i believe so, deeply. look, i think that one of the things people forget is the primary identity of any american, no matter what national origin you come from or your parents did is you're a worker, you're a small business owner, you're a mother, a father, homeowner, you're trying to get ahead in life and especially people that have moved to redding. it's a city a lot of people move from all over the country because there were jobs and it was affordable and now it's not. it's just not affordable. life is not. everything costs a lot more and even if you got a a little bit of a pay increase, you got huge price increases and it's affecting people deeply. so i watch, you know, some of
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these rallies and celebrities talking about well this is a choice between last night oprah winfrey talking about this maybe the last election you get to vote. these are ridiculous things. meanwhile, people are really worried. like they still have to finish paying their bills for last month and they are already worried about november and christmas and the holidays are coming up. this is deeply impacting all americans but particularly americans of hispanic descent and americans who are deeply committed not just to getting ahead in life but leaving their children better off. stuart: well, congresswoman aoc she was in redding, yesterday. she campaigned with vice president. does her help for harris does it move the needle at all with hispanics these days? >> no. i don't believe that. at all. and frankly, no. ultimately, any of us that go speak on behalf of these candidates, we're trying to deliver a message and we're there to help this candidates to deliver that message but this is, we're not talking about a local, you know, small obscure
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position. this is the presidency of the united states, the most important political job in the world, and frankly, an administration that's going to determine what life looks like for you over the next four years. the bottom line is that the last four years were worse than the previous four years. life was more affordable. america was safer, and more respected in the world, when donald trump was president, and people remember that and that's what the they base their vote on and there is no celebrity, no congressional surrogate on either side that's going to take people's minds off that reality and that's why look, it's going to be close we know that. people have to come out and vote today. they need to come out and vote and make sure republicans come out andv if that happens, he's going to win pennsylvania and donald trump is going to be the 47th president of the united states. stuart: your home state, florida, has recreational marijuana on the ballot today. mr. trump has hinted that legalizing it. where do you stand on this? >> well i oppose that measure. people can already, i mean there's already ways people can do it in florida the way our current law stands but this could go bond that. obviously, there's differences of opinion.
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they got to get to 60% but i specially don't want to live in a state, every state that experimented with this and has done this has now buyer's remorse with regards to it. i don't think it's the kind of thing we want to see in our state and one of the things people have to remember is this is going to be controlled by a handful of really big companies who are going to have a monopoly on the sale of the stuff and i just don't think it's good for florida to pass that today and i hope it fails. stuart: may i change the subject completely for a second? according to the "wall street journal", russia is suspected to plot to send devices on planes headed to the united states and canada. you're on the senate foreign affairs and intelligence committees what do you know? >> there's no doubt that russia is trying to impose costs on indications that have been helpful to ukraine and the fight that's going on there and they are trying to do it in a way that's deniable basically can we go out and can we create some
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sabotage opportunity without it being linked back to us. everyone will know it's them but that's what they are trying to do here. we've seen some of that already in europe and it's just a matter of time before you may see them try to do that but i think what's indicative of is they are not afraid of joe biden and they are most certainly not afraid of kamala harris. one of the reasons why i'm so passionate about wanting to see donald trump re-elected is i truly believe, i know, that our adversaries and enemies and those who wish us ill around the world they may not like donald trump but they fear and respect him and they did when he was president and that makes us safer as a country. stuart: senator marco rubio thank you very much for taking time out to be with us today. we know you're busy but thanks for being here. thank you, senator. thank you. stuart: let's see how the works" doing on this election day. this is pre-market trading we see green. there's not much but at least it's green. dow up 20, nasdaq up 55. the opening bell is next. ♪
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supporter of palontier. and palontier is going straight up today, 15% as of now. mike lee is the big booster, and he's going to tell us why you're a big booster of palontier. >> well, stuart, right now, we are in the age of a.i., and so it's all about data, how to access that data and just to give people a perspective, if you think of all of the data that was created from the beginning of the history of time, until 2003, we now create and collect that much data every two days. so that's only going to continue to increase on an exponential level so how do you get access to that, extract it and put it into some sort of actionable dashboard and automated processes? there's only one software company that can do that and that's palontier. they are so far far ahead of everyone else. their commercial revenue was up 54% year-over-year. there has never been a company like this other than say microsoft and the early 90s. stuart: um, where is it going? it's $47 a share now. you said on this program, that it's the best investment
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opportunity of your lifetime. so where is it going? >> infinity and beyond. the addressable market for this company is in the hundreds of billions of dollars so if they go from 3 billion to 30 billion to 50 billion in revenue the stock goes up many multiples of this. this is one you buy and hold for the next five or 10 years and you become rich. stuart: okay, speaking of becoming rich, kevin. what do you think of palontier? >> look, i own this stock and its been a volatile ride, but i'm a believer inexactly what he's talking about. he's right. these guys manage data. the problem we have in america right now is the derivative of this opportunity is lack of power to build data centers. stuart: you're back on that. >> yeah, because you can't get to where we need to be without 30 gigs worth of data centers. chinese are beating us now in building data centers and they are using it for defense. we have to do the same. ferc just shutdown the nuclear power option. that's crazy. that's just crazy. where are we going to build
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these data centers? stuart: has palontier got a cult following like tesla? >> it's unbelievable their devotion of the shareholder base so they are going to get their faces ripped off. this is an unbelievable story and the more you understand about their technology and how far ahead, the more you become one of the members of this cult. stuart: just don't hold back, mike. we don't like this on you. >> well look this is an expensive stock, and so if it pulls back i'm going to buy a lot more and continue buying it for my clients that don't own it. i wish i bought more when it was cheaper. i don't know how many opportunities you're going to get. >> what's the pe on this? >> it's astronomical. trading above 30 times revenue. >> [opening bell ringing] stuart: that's a big multiple. well you made your point, mike. the stock is up 15%. they are ringing the bell and going to press that button and this market is open on election day. we're opening slightly higher. lower. okay. the dow is off what, a fraction.
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that's irrelevant but look at the dow 30 and even split, winners and losers green and red. the dow at this point is up two points. show me the s&p on the upside but only just a gain of 12 points, .22% not bad. the nasdaq composite where is that going this morning? it is on the upside .44% remember this is election day and investors not holding back that much on the buying. check out big tech. where is that? meta, amazon, microsoft, alphabet, all higher. apple 222. all in the green that's big tech. all right, it's election day. trump media take a look at this. it is up 8%. that's surging basically. does that mean investors are confident that trump wins? taylor: the betting markets if you think about the equity markets right now, some of the individual trump plays are certainly sort of betting on that. we've talked a lot about this stock, stu. it was an 11 or $12 stock six weeks ago jumped up to 50 and backs the share two weeks ago so
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we're here about 37 so you could say the betting markets when it comes to this stock is certainly betting on trump but it's going to be a long day so let's see how this goes. stuart: do you agree with that kevin? >> it's a betting proxy. i agree with that but investors like me have to play it very carefully, because if harris wins we have to work with that administration. so, think about it. i mean i may have lots of opinions but i shut my mouth because i realize what happens tomorrow morning if she's the president? stuart: you can't come on this show and shut your mouth. >> you know how i feel about policy. i don't pick candidates or show for politicians. i show for policy. stuart: we hear it thanks very much. check out cryptos please. on the upside this morning, bitcoin at 69 grand, and i take it that the crypto plays are following suit? taylor: yes exactly so we talked about this. crypto record back in march for bitcoin, we're trying to get backup to $70,000 so the equity markets, the crypto markets are certainly playing that, right? there has been more crypto money spent on this election than ever before.
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crypto was playing a big role and so you're certainly seeing that within the crypto plays today. stuart: you used to be a big backer of cryptos kevin? >> still am closing on 20% of our portfolio in crypto assets. i'm a huge believer in digital payment systems and the efficiency of crypto long-term. just bought in some pall, which is the old polygon upgraded. just bought a bunch today. stuart: okay we spoke at length with mike lee about palontier. it's way up today 13%. what's the highlights though from their earnings report? taylor: overall revenue up 30%, raising revenue guidance for the third time this year, for guidance overall. when you have a ceo coming out and saying that a.i. spending and demand is unrelenting, comments like that is what moves the stock up 15%. stuart: i've got tesla on the upside this morning, i think it's at almost 250 a share with a theory, it's up because musk would play a significant role in the trump administration. taylor: there have been a lot of conversations about what
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would happen if he is in the administration. traditionally democrats are more ev friendly but if he's in a role with the trump administration does he have to give up control of the company? does tesla still win? how does this all play out. there's also some reports out overnight that they are raising wages by about 4% in europe when everyone else is actually starting to cut back on wages. he's hiring temporary staff full time and that could speak to good demand in the german gigafactory going forward. stuart: moving on to boeing. the strike is officially over. does that mean that they are going back to work immediately and producing planes like that? taylor: well no it's going to take time but a 53-day strike is over. we'll call this a moderate win for the new ceo who remember had this huge overhang that hopefully is behind him and he can get back to business of making those planes, because like you said it doesn't just turn on in the flip of a light switch. 38% wage increase in the next four years plus a higher signing bone us, so let's hope this is
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enough and get back to work. stuart: are you one of those investors who buys big dips in important companies? >> not with boeing. its been a miserable story. lack of execution i don't like the idea of them getting out of space. it's part of defense development. i mean this company, remember this was a $250 stock. this is misery on wheels. stuart: i'm the guy who bought it at 400 and i need to sell it at about 130. >> look this shows you the difference between good and bad management. that's execution all skills are everything. stuart: you've got it. we had a couple of restaurant chains, companies report before the bell this morning. we start with restaurant brands please? taylor: overall sales fell, burger king sales are down, popeyes sales are down, tim horton's sales are positive but down from last year so something concerning. stuart: couple brands are doing better they are up. taylor: they are, so their earnings are a little bit short of estimates this is pizza hut, taco bell, kfc. taco bell is actually the only
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one with same-store sales that were up 4%. the other two had same-store sales down, but hey, taco bell is not bad. i like it. stuart: you don't do restaurants do you? >> i do have some but this is a miserable sector too because the input costs on protein have done nothing but go up, stay up and they can't pass it on to the consumer. you can't charge people 18 bucks for chipotle bowl. that's not when they used to buy it for 9.99. it's a huge problem. stuart: that's true eating out is very expensive. >> i wonder who they are going to vote for. stuart: i wonder indeed. all right, taylor, thank you very much indeed. good coverage there. check the big board. we are what, five almost six minutes in and up 67 points on election day. dow winners show them to me please top of the list is american express, caterpillar, visa, goldman, jpmorgan. the s&p 500, whose the winner? emerson electric, first source, dupont, marathon petroleum. nasdaq winners are global foundries there again, marvel
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technology, tesla reached 250 a share, broadcom is up, airbnb is up. the yield on the 10-year treasury up 4.31%. the price of gold up at 2,758. bitcoin up $69,000 a coin. oil up $72 a barrel. nat gas up 2.78 is the price. the average price for a gallon of regular gasoline no change, 3.10. in california it'll cost you 4.53. coming up, elon musk giving his final election warning on joe rogan's podcast. >> this election is the last chance to preserve democracy in america. vote like your future depends on it. stuart: is it really that serious? we'll ask dave portnoy on the show in the 10:00 hour. biden and harris racked up $1.7 trillion worth of regulatory costs. trump promised to slash it so which regulations are on
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the chopping block on day one? we'll ask vivek ramaswamy in the 11:00 hour. trump's potential treasury pick says he would work well with elon musk to cut spending. >> elon musk is one of the most successful american entrepreneurs. i've been following economic policy for a long time, so you really want people that are experts in the area making decisions. stuart: would these two make a winning team economically for trump? we'll ask economist ej antoni, he's next. ♪
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direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. stuart: hey, the markets showing some gains. will you look at that? we're 12 minutes in, it's election day. the dow is up 80 and the nasdaq
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is up 122 points. the economy, yes it will play a key role in the election. it's the voter's top issue according to many polls. edward lawrence at the white house. edward, what the are the candidates, their final pitch on the economy? reporter: yeah, the final pitch is that both know exactly how to handle the economy for many people, gas is what they use to get to the polls, and many ate breakfast at a diner, or from the grocery store, and for many americans, this could be the campaign gauge as to which way they are going to vote. former president trump saying, a reminding the fact that vice president kamala harris came into office, prices all prices are up 20% from the month that she came into office. the former president believes the election boils down to one question. you played at the top of your show. are you better off than you were four years ago and his runningmate believes people are smart enough to see through the politics. >> the thing that kamala harris has been doing over the last few months is trying to pretend that she is going to fix what kamala
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harris broke. i think the people of wisconsin are smart enough to recognize when they've got a politician like kamala harris whose trying to sell them snake oil. reporter: vice president kamala harris wants you to forget the fact she's been in office since january of 2021 and pitching a message of turning the page without many specifics. >> together, we will build an economy where we bring down the cost of living. we will bancorp ban corporate e gouging on groceries and make housing and child care more affordable. reporter: the vice president and her runningmate asking voters now to trust them. >> so when you hear kamala harris say we're going to put more money back in your pockets by taking on corporate greed and price gouging that's what we're talking about. reporter: but the vice president has been in office for about four years now and this is the situation we're currently in. stu? stuart: edward thank you very much indeed. trump says he will usher in a
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golden age for america. watch. >> a vote for trump means your groceries will be cheaper. your paychecks will be higher. your streets will be safer, and cleaner. your communities will be richer and your future will be brighter than ever before. >> [applause] >> this will be the golden age of america. stuart: all right economist ej antoni joins me now. what do you think, a golden age? i mean, trump's prone to exaggeration. do you think this is a case of exaggeration? >> well, stu, let's put the rhetoric aside for a second and just look at the records. you saw a lot of positive economic indicators under the first trump administration and not just positive but hitting record highs, real median household income, i think, is a very good example of that which is now down today compared to where it was in
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2019. so, you know, is it hyperbole from the standpoint of the president likes to make exaggeration sometimes in order to make a point? sure you can say that absolutely but do i doubt that the president could return us to an incredible prosperity? no i think that's a very real possibility because he did it once already. stuart: okay, ej hold on for a second. i have kevin with me this morning. golden age, an exaggeration? >> if he can cut regulatory costs, on all 11 sectors of the economy, at the federal level that's very important. if he can reduce energy costs and boost the production of electricity using nat gas and hydrocarbons that's important. on a clean basis which you can do with the new technology. and if he can somehow stabilize all these wars all over the place, which are costing a ton of money, that's the thing about these wars. they aren't cheap. they cost cash and of course, the human life is horrific, but people are scared of him, because he's unpredictable and
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that, we know, from his last administration. i'm not saying it's good or bad. nobody wants to go to war with trump as president because he scares the you know what out of women. stuart: he does indeed. listen to what potential trump treasury secretary john paulstop had to say about out of control government spending. >> trump has been adimate he wants to reduce government spending. kamala has not said anything about reducing government spending. she wants to increase spending and increase taxes. trump is the opposite. he wants to keep taxes low for all americans. elon musk is one of the most successful american entrepreneurs. he's brilliant, so i think it be a real plus to have him involved in the administration. i've been following economic policy for a long time, so you really want people that are experts in the area making decisions. stuart: ej, i've got to say i've seen an awful lot of skepticism they will be able to cut $2 trillion worth of spending. ei've asked you this before, do
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you think they can actually do it? >> i do, stuart especially when you consider not only the waste, fraud and abuse there is in the federal budget but also just the absolute silly things that we are wasting money on. we spend all of this money on green energy which is not only inefficient but are note losers. these things don't make money. again, they are net losers so if you eliminate them from the federal budget not only do you save the federal government money you actually increase the broader economy because you allow those resources to be used for more efficient or to be allocated i should say more efficiently. now, whether or not paulson would make a good treasury secretary, i don't know. that's more of i think a risk management position like fed chair is, as opposed to a position where you're looking at ways to cut spending, right? the treasury secretary is essentially an executive carrying out what congress has already said to spend money on, but i would like to see him and elon musk involved in some kind of, you know, commission or board, whatever the case may be
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to cut federal spending. stuart: got it ej antoni thanks for joining us see you again real soon. every four years, the pundits say this is a groundbreaking history-making election. this time around, it really is. harris is a government person. trump is a business guy. harris is tax and spend, trump is tax cuts. this is a consequential election, and that's my take, top of the hour. we're at the finish line. voters making final decisions in this election, all eyes on pennsylvania. we have a full election day report, after this ♪ so, what are you thinking?
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a medicare supplement plan helps pay some of what medicare doesn't. and that could mean fewer surprise out-of-pocket costs for you. call unitedhealthcare... and ask for your free decision guide. or talk with a licensed insurance agent or producer about plan benefits, options, and rates. this type of plan lets you choose any doctor, any specialist, anywhere in the us who accepts medicare patients. so call unitedhealthcare for your free decision guide... and get help protecting yourself from those out-of-pocket costs medicare doesn't pay. oh, and happy birthday... or retirement... in advance. stuart: kamala harris' vice president pick, tim walz says everybody is all stressed out. mark meredith with me now. sounds like there's concern the harris campaign has not solidified the democrat base. is that accurate? >> well, stu, after just a few
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hours to find out for sure. good morning to you. we and the press as well as harris supporters are waiting to get inside howard university where there's going to be an election watch party for the vice president tonight, but her campaign admits this race is incredibly close and it's certainly possible the race won't even be decided for several days. still the vice president's team says they believe they have multiple paths to victory reaching that 270 magic number they say they are seeing strength in the sun belt states places like georgia where the campaign expects results to come in fairly quickly. overnight the vice president held her last rally in philadelphia. she spoke for about 19 minutes and largely success to her regular speech but she had a few celebrities on hand, lady gaga, oprah, ricky martin, and during her speech she also referenced the historic nature of her short-lived campaign. >> so america, we started this campaign 107 days ago and from the beginning, ours has not
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been a fight against something. it has been a fight for something. >> [applause] >> a fight for a future, with freedom, with opportunity, and with dignity for all americans. reporter: well the campaign has held multiple rallies perhaps it's get out the vote effort is going to get most attention after the election including how many door knocks that the campaign has had. look what they have done just in pennsylvania. more than 800,000 voters possibly reached because of the door knocking effort. speaking of door knocking just last night the vice president was able to stroll and talk to a few people while she was out and about in pennsylvania asking them to get out there and vote. some people said they thought it was going to be governor shapiro as opposed to the vice president when she was there knocking on the door. the vice president is hoping last minute radio interviews will help sway the vote. stu? stuart: thanks, mark. kevin o'leary with me. you've got 10 seconds for last second pre dick prediction.>> if she loses thec
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party will never a pinot noir a candidate. they will run a process and have a convention and they willinger do this to themselves again. stuart: 10 seconds not bad. thanks for being with us for the hour appreciate it. still ahead, dave portnoy will react to joe rogan's endorsement of trump. if republicans take the senate, south dakota senator john thune will become majority leader. what be the first thing he does with his new power? he joins us in the 11:00 hour. vivek ramaswamy is going to be here, with his final predictions too, and bret baier going to take us through the victory for both candidates. he is here now. election coverage comes all morning long. sir how are you? >> good to see you. ♪
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