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tv   The Claman Countdown  FOX Business  November 5, 2024 3:00pm-4:00pm EST

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of the population. we need to get back to organic exceptionalism, not rocket fuel gangs that mostly benefit the top 1%. earlier i talked about palantir. one of the things he talked about was american exceptionalism. american greatness. he talked about the need for meritocracy. that doesn't mean picking out the person who graduated at the top of the class but does get back to working hard, investing, saving, and also investing in a rigorous strong education for every one at a very early age. here's the thing. you never lose faith in this country and make sure you go out and vote. over to my colleague, liz claman. liz: god bless to this american democracy. there is a vibration in the air.
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let the countdown begin to the closing bell and the first polls closing in less than three hours, with one hour left to trade, the mood of the markets is decidedly bullish. the major indices are muscling higher, the dow jones industrials up 320 points, the s&p up 52, nasdaq climbing 203 points. the russell 2000 up 29 points are 1.3% as millions of people in the nation lineup to cast their vote on election day 2024, you are looking at life pictures in precincts including west bloomfield, michigan, chicago, madison, wisconsin, and denver, colorado for everything from the economy, stock market, inflation, immigration, women's rights and taxes in focus. the race is too close to call but for investors in the business world, what will be the prevailing compass guiding voters? two big money makers with different visions, billionaire owner of the new york jets,
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trump supporter woody johnson is here with real estate billionaire and harris supporter jeff green. both will come to us live from palm beach, florida, two interviews you cannot miss which ahead of it all the markets remain calm and complacent. look at the volatility index, down 4.4%. still at 20 one but interesting, just seeing as we said complacency. that does not mean we won't see wild knee-jerk possible swings as investors get a clearer picture of the winter in the race to the oval office as the hours tick through the night. floor show traders are here to prepare you for the possibilities but let us take it from wall street to the key battleground state of michigan where grady from blue standing by in northwest suburb of detroit. >> steady stream of voters as we watch democracy in action.
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more than 3 million michigan voted early by mail or in person which was an option this time around for the first time ever here in michigan. underscoring our important this state is going to be on the road to the white house, vice president harris was here on sunday and donald trump chose michigan as the place to hold what could be his last rally ever. he was in grand rapids, he closed out his campaign in his previous two runs and did it again. a little superstitious, he took the stage after midnight so technically spoke for two hours wrapping up around 2:00 election day morning, then went straight back to south florida, that of course is where he cast his ballot and watching the returns come in at that watch party and mar-a-lago. he found time to speak to reporters to talk about what is at stake. >> is this your last campaign?
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>> i would think so. sad, sad and very fulfilled. the transition team, i don't like talking about that until i find out how we do. >> reporter: vice president harris not going to the polls, she voted by mail. she will hold her watch party tonight at howard university in washington dc. because she's not voting she does have time on her hands so she's doing radio interviews on all the key battleground states. >> i think this is an inflection point, the moment we have two different visions of the future of the nation. minus focused on progress. my opponent has a different perspective on it all. he will walk into the oval office with his enemies list.
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>> reporter: 15 electoral votes up for grabs, the road to the white house could run through the wolverine state. liz: they've spent a lot of time there and there is a reason. it is fair to say nobody knows the outcome of this election which could mean nobody knows how the stock market will react. for the moment you could call a broad-based bump here. all 11 s&p sectors in the green with consumer discretionary or tech leading the pack. intel at the top of the industrials, chipmakers jumping 3%. big move up 13.5% and even bigger, we are looking at palantir. the star of the s&p 500 rocketing higher by 23 points,
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the data analytics softwaremaker reported top and bottom and sunny forecast, you are near and dear to my heart and i love it. you guys are winning. he went to see winning? year-to-date shares are up 196 points. speaking of jumping and spiking, and election day rally on our hands, buckle up for wild short-term ride. let's bring in the floor show. chief market strategist, a big difference between a reflexive quick move, and move sailing. we had sitting in that chair a few weeks ago donald trump's financial leader. john paulson has raised so much money for donald trump. what happens if there's a harris win? he said he would go to wall cash and gold. what are you advising?
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>> don't do that. that is in the same. never panic. i don't care if it's a pandemic or election night, pieces of economic data. both of these candidates spend what we make, both -- i would say trump more so because lower taxes, greater profits, greater earnings, harris not so much, a capital gains hit. if you see a harris victory and that concerns you on taxes or capital gain or corporate, that's an opportunity to go along the market. on sale for the blink of an entire, there is too much good in the us economy and the federal reserve being accommodative, not because the next day after, if there's an issue, don't panic, look for great opportunities and realize the data is okay.
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liz: if the market doesn't panic, could panic on this binary situation, the election and the federal reserve. you gained out the possibilities of short-term knee-jerk reactions on a harris win, trump win or if we don't know. talk about what we believe is going to happen? >> what will happen is if harris does when we get 1% to 3% move lower but mapping out areas to buy. cooler heads will prevail, there will be a dip. how long does that phase last? we marked the 100 day moving average on the s&p so we would think about buying it. if you look at investors, 555, that would be big term support. a trump win, we think we will get a knee-jerk move higher towards the all-time highs of the year and we know what vehicles to use. when you come to a binary event anything could happen in the last thing you want to do is sell everything, go to gold,
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chances are you are not getting back in, people did that during the pandemic and the 220 election, differently upset they did so. liz: people who bought during those panic moments, hard to catch the bottom because we flashed it on "the claman countdown". what would the on your shopping list? >> if you look at the mag 7 or mag one, nvidia and if you can get 20 or 30 points jump all over, look what happened recently. amazon looking to put double-digit earnings growth with a blip in the market, take advantage of it. palantir has incurred will numbers, a volatility market. they eviscerated earnings. looking at a scenario when you get the selloff moments, what i
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haven't bought yet, very exciting but for a minute i would say please look at dips, what number do you want ahead of time? one hundred 30 or one hundred 34 hits that number, go to buy it. >> i thought you were macro, you are talking about micro. i love amazon. i love nvidia. i love palantir, if they get a kamala dip those are viable. i would love to see us hold here. with amazon the stock has been in this space since 2020. i wish jeff baeza's had the same approach palantir had. he has been sitting on the offer getting rid of 25 million shares. if we get through this election we get through 200. that's in and out of the mag 7 probably hitting 220 more.
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liz: can we say to our investor audience the one thing not to do no matter who wins is to sell stakes in any sector? >> i would agree with that but if you see a harris victory there may be turns around. specifically green energy. natural gas around that, some noise in that situation. we are not clear on that, very concerned about that space. development, not utilities. liz: under the trump administration, green energy didn't -- did much better than it did under the biden administration and conversely the traditional fossil fuel energy index did worse under trump and better under biden. jpmorgan put out a research note in the last 24 hours saying here's a harris list, here's the trump list with trump they say if there's a
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trump win, aluminum and steel stocks, cleveland clips and for harris, choice, they say go with the green energy which to me is very interesting. and charge points or some of these names but look at the near historic -- >> that said, plug which is a stock that has been obliterated, all the nuclear type of names powering the grid have been in vogue. that's an option, $2.50. that stock was a $40 stock. if kamala does when, you go for the clean energy and plug and either way, nothing is set in stone. besides semiconductors you want a bunch of different names to spread across the record.
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liz: start chewing your nails. stay calm and carry on. great to have you, thank you very much. we won't begin to see election results until tonight but in less than one hour, much anticipated business update from the stock that has gone from hero to hazard. supermicrocomputer. what will we hear from the ai data center operator that has been stuck in the crosshairs of controversy? both billionaires supporting rival candidates and they are both here to tell us why. woody johnson and real estate magnet jeff green join us live from palm beach in a few minutes. "the claman countdown" is coming right back. 667 points coming right back, don't move.
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liz: major individual stock stories. 105-year-old enginemaker has grabbed the tale of the ai tiger, they are hitting an all-time high after third-quarter earnings we, the stock jumping 9%. comments that were churning power generation product since 1919, the robust demand from data centers, sitting at the top of the s&p 500 after double-digit revenue growth in its distribution segment, the segment that sells the products that power the very energy hungry data centers. archie daniels midland hitting a 52 week low after the agricultural company reported lower-than-expected earnings. also canceled its earnings call, never a good sign as management works on internal
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accounting programs. the stock is hit to the tune of 7.3%. they will amend the fiscal year 10k and its statements for the first and second quarter of this year after having discussions with the security and exchange commission. it is down 29% year to date. 8 months ago, super microcomputer was on top of the world hitting record hi thanks to ai fueled demand. last week it plunged 45%, its worst week on record following its accounting firm had resigned after a company audit citing unwillingness to be associated with financial statements prepared by management. the servermakers scheduled to give a business update, about 40 minutes after the close when it reports results. investors hoping for the clarity on the situation.
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it is still really looking into a bad year. all year, talking to the who's who of america, how they think the markets and economy will respond no matter who wins the race for the white house. we are going to show sampling of what billionaires and business titans told us and get the freshest take from charlie gasparino on what wall street leaders are saying in the last 24 hours. that's next on "the claman countdown". ♪ ♪ like your workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing. so you can feel confident in your financial choices voya, well planned, well invested, well protected.
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liz: breaking news, let's dip into chicago at the intersection of clark, looking at the super site polling center where voters are waiting patiently in the rain. you see some umbrellas, to cast their ballots. the economy, we've been telling you this is if not a top issue, one of the top issues in this presidential election but when you ask the nation's wealthiest people, top business leaders who they believe will do a better job of leading the country to prosperity in the next four years their opinions
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widely vary. we have been speaking to big-money insiders on both sides of the political aisle. here's what the billionaires and wall street titans told "the claman countdown" about the two candidates battling to become the 47th president of the united states. ♪ >> what i learned about politics is anybody that tells you they know what is going to happen doesn't know what they are talking about. >> is in a bad economy or not when people on wall street, people in business, no it is not. it is just not an incredibly booming economy. >> no question donald trump is pro-business. >> adding to a potential financial crisis as a result of the buildup of debt in this country and neither candidate is addressing is that. >> 2025 will be one of the most significant potential tax repositioning years we have ever seen. >> if there is a trump
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presidency, we have a. environment not just for bitcoin but crypto assets in general. democrats will support kamala. what i am hoping is she takes the temperature of the american people and pivots from the far left of the center. >> if we are willing to pay those tariffs they won't absorb that themselves. it will go to the consumer. >> of harris is elected i would pull my money from the market, i would go into cash, i would go into gold. >> i don't intend to vote for trump or harris. i will write you and. are you interested? >> thank you very much, ladies and gentlemen. i want to decorate the christmas trees at the white house. >> leon writes himself in, i will say this, talking about rich people and dj t stock.
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warren buffett is short-term. liz: tons of apple and native american. and hasn't bought his own stock. charles: what does that mean? it is being interpreted by a lot of traders that buffett is betting against trump winning because clearly in the next couple days, trump loses there will be a significant selloff in the dow. the dow has been up, trump trade, the s&p, bitcoin. liz: stock repurchase if harris were to win but knee-jerk short-term by an opportunity. charles: which is why warren buffett is long cash and short the market. liz: you heard about bitcoin. some interesting news. charles: dj t is more interesting. look what's going on. it was, do we have a chart? it was up 12%, 15% then i
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blinked and it was down 15%. now it is back up 10%. i don't know. there it is. almost down again. we should point out this is a bad, in my view, election sentiment and here is why. it's very thinly traded. trump holds 53% of the shares, it is highly shortage, you don't know what is going on. people borrow the shares, they sell it, need to replace it at some point hopefully when it is lower. this is such a manipulated stock, not in an illegal way but a legal way that i would not be, i now people talk about dj t shares, i would stay away from that is an indicator. a couple things i am picking up
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from the trump campaign. the theory is harris has the edge. why is that? $1 billion in three months since she was nominated and placed as the nominee replacing joe biden and amazing grounding. they have people all over pennsylvania, wisconsin and michigan. from what i understand they are blanketing, trump people say not so fast. here are early signs that we might be able to pull this out. they tell me the polls are tightening in new hampshire. there's going to be a surprise it might be able to pick up, might, this is wishful thinking, new hampshire or make it exceedingly close. if it is exceedingly close it could be a good night for donald trump, shows the momentum has carried the we were seeing late last week, late last week into this week, the momentum keeps carrying. liz: dixville notch is the first precinct allowed to vote at midnight, there were six registered voters, tiny area of
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new hampshire, three for kamala harris, that state, he has been polling better. wall street, if you were going to sit here and ask jamie dimon, i would say i don't know. if you ask larry think i don't know. they would agree with me about the ground game. that's where i hit this stuff. from inside trump headquarters they believe they have massive momentum on their side, male voters are flocking to them in those swing states. they believe female voters are not as enthusiastic as you might think for kamala harris. the trump will eat into the minority vote and they believe they have the momentum to win pennsylvania, when georgia, win north carolina, arizona, nevada and then it is over.
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liz: if you look at the fox news polls, they indicate the kamala harris has leadership in some of those states and i'm not saying one poll, even the fox news paul which is brilliantly done, not saying one poll is the decider but i would be worried if a campaign was throwing in the towel already. charles: i don't know about that. i'm not talking to the cheerleaders. i'm talking to the realists. the realists are saying they think they can pull this out. the public polling whether it is fox or anybody else. liz: right now she has the lead, georgia -- charles: the public polling. charles: north carolina and wisconsin trending to her as. liz: pennsylvania and arizona trending toward donald trump. actually know. not according to fox. michigan dead even, arizona.
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charles: michigan, that's what i am saying. michigan should be an easy layup for a democrat, democratic governor. liz: north carolina should be easy for a republican. charles: not anymore. that is a purple state. the tech influence and the rally, trending purple. they think they will wind that. they think may be late but they are going to win it, momentum is shifting his way. here's what they will say. i gave you the case for harris. momentum is shifting their way. the enthusiasm is shifting clearly. he underpolls, always underpolls. but does he still underpoll? if i voted for trump -- that's just me. i don't vote. it's my constitutional right. liz: if you don't vote you can't complain. charles: the constitution gives me every right to complain, first amendment doesn't say if
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you vote you get the first amendment rights. i am just telling you. liz: she has been doing a lot of radio interviews in all the battleground states leading up to this. she already voted before and there she is. charles: who do you think she voted for? i am just telling you. giving you two sides, the trump people have a bull case, the harris people might -- my logic sides with the harris bull case just because one billion dollars round game, always great, only have to focus on a few states but there may be shipped something shifting. donald trump will that often 2016 without us noticing until it happened. nate silver had him losing, the odds of this one. you don't know until you know. who are you voting for? charles: i am
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liz: i'm voting for lee cooperman. chris i the economy if you want but there are more billionaires in america than any other country. their perspective is crucial for a business audience. two billionaires in palm beach not far from donald trump but who are looking for different prisons of the election day kaleidoscope. former us ambassador to the united kingdom on why he is backing donald trump and democratic donor and real estate magnet jeff green on why he's voting for kamala harris. keep it right here for fox business coverage of election night 2024. i will be on site with sean duffy, dagen mcdowell, liz mcdonald, all of the important voices on fox business when we kick off coverage at 5:00 eastern. we are back with billionaires in two minutes. stay tuned. ♪
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liz: we want to dip into kamala harris at dnc headquarters in washington as americans head to the polls. it's not just the president on the ballot, the legislative branch could adjust the balance of power in the nation. fox news app latest power rankings forecast republicans to win a majority with 51 seats, four seats are a tossup. in the house fox news predicts republicans could hold the majority with 22 seats still up for grabs. if that played out that way and if kamala harris were to win the presidency, we would be looking at a split government with a democratic president had a republican congress. how might that swing what has been a stellar stock market
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with 40 record closes for the dow and 47 for the s&p? joining me live from palm beach, florida, is kamala harris supporter and self-made real estate entrepreneur jeff green. you and donald trump are literally neighbors, from the same road in palm beach. you just voted this morning at the same place he voted. >> i tried to get there before he got there. couldn't get a parking space. my wife got a drivers license, she waited for me and it is great. liz: if that scenario were to play out, do you think a split government would be negative for what you've seen in the stock market? >> we have a split government now and it is working fine. watching the democrats and kamala harris apologizing in some way for being on the defensive mode.
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we had the worst pandemic in a century. nobody knows how to treat a pandemic. we overheated the economy, too much fiscal and monetary stimulus. the result, an insane amount of inflation. they landed the ship. inflation is down 203%, unemployment, we almost have full employment and i think the economy is doing great. prices have gone too high and we have to get those down. the policies we have had are working great. liz: you feel joe biden and company have created the atmosphere. and inflation spiked in 22. it stands at 4%. inflation is very high in many battleground states. how do you think that plays in.
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>> inflation did get too high and they shouldn't have done the build back better bill. you are in uncharted territory in this pandemic. nobody knows how to handle it. they over stimulate but we ask how we will do in either administration. as a real estate developer, the last thing we need is what donald trump proposed, to deport all the workers, we know these immigrants if they are not working illegally and construction sites they are taking other jobs that allow people to work so deport all these people, what happens to wages and construction? wants -- tariffs and all the stuff that comes in, all the cabinets and the input we have in buildings that will cause crazy inflation. worst of all he wants to do this irresponsible budget with crazy tax cuts which in my view is the reason rates have gone up as high as they have gone up
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even with short-term cuts. it could drive rates up 7% or 8%. as a real estate person -- liz: not far from 7% when you look at the 30 year fixed mortgage for example. we saw it during the pandemic because that was one of the fed's tools to chop rates to 0 and that was reflected in the mortgage situation but we still have mortgage rates above 6%. >> imagine if all of a sudden we do what he wants to do and increase the national debt, right now -- liz: the national debt -- doesn't she want to increase, not want to about with her policies increase the national debt as well? >> if you read the goldman sachs report, trump policies will increase the national debt by double what the harris increase will. the last thing we need is more tax cuts. we need to balance the budget,
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raise taxes and cut spending and get financial cuts. liz: there has been criticism of kamala harris that she hasn't stated important economic policies very clearly. what do you think is her best stated policy that has convinced you from at least that standpoint to vote for her? >> when she is going to do is continue what we are doing which is have a full employment economy. inflation has come down from nine to wonder 3 so we can keep this going, it will get low but some of her ideas to offer people and amount of money to purchase a first time home and have more job training, going into a crazy time in the economy. this is not the time to do what elon musk is saying and cut
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$2 trillion from the budget. the government needs to get behind people who will give us healthcare. people are worried about wealth taxes and unrealized gains taxes. if we keep doing what we are doing, what trump wants to do in his party, the income disparity gap and wealth disparity gap keeps widening, we will have those taxes and become a socialist country. my feeling is take care of people now, give everyone a chance at ultimately we will succeed as a country. liz: fair and balanced, the other side of this discussion, israel battling terrorists, russia's invasion of ukraine has the us on devcon one. we will talk about the global impact of the election and who the next commander-in-chief will be with gop supporter, woody johnson, billionaire jets owner.
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the dow industrials gaining 350 points.
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liz: there's the possibility we
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might not know who the next president of the united states will be by this time tomorrow. some states may have recounts. who better to have been georgia secretary of state brad ra raffen raffensberger, three vote recounts, he will tell us what we should be watching for along with kyle bass who will be here with wall street's reaction to tonight's events. they will join us at 3:00 p.m. eastern. if you can't watch it, dvr it. we have breaking news, benjamin netanyahu has fired defense secretary gallant. he will be replaced by israel c katz. there were many gaps between them in terms of the ongoing wars with hamas and hezbollah. the latest update comes after lloyd austin recently announced a slew of additional military support to the police.
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the air force sending b-52 bombers, fighter jets, tanker aircraft and destroyers to the region adding to the current military complement in the theater like the navy assault ships, the uss wasp and the aircraft carrier uss gerald ford which are currently deployed in the mediterranean. the first time since russia invaded ukraine, ukrainian military officials, and in the western kursk region of russia. ukrainian intelligence did confirm further details besides the actual location. the presidential election shapes foreign policy and america's role in conflict across the globe. joining us is billionaire owner of the new york jets, former ambassador to the united kingdom and donald trump supporter woody johnson. there is all kinds of diplomacy or lack thereof that is
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fracturing the situation with benjamin netanyahu and gallant. what do you think donald trump's first move would be with the israeli/gaza conflict? if he were president? >> yeah,k a little bit. i don't think any of this would have happened had he been commander in chief at the time. liz: that's factual. who could tell. all the thousands of terrorists may still have swarmed through to israel and attacked them. >> maybe. maybe. but i suspect it would not have happened because as commander in chief, he would have projected the strength of our military without having to use it and convince both russia and iran to not do what they've done,&have this thing blow up the way it's blown up. this is a tactical thing that happened today. there's no way to decide whether it's good or bad from my
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perspective, but seems like this administration has held back israel all the whole -- from last october till now and held them back and prevented them from doing what they had to do, protracting this war into lebanon and houthis and that whole region for shipping and the thing is out of control and military had to leave and it's kind of a mess. liz: we're looking at video of all kinds of blasts over lebanon and israel said no matt herb who is president, it'll do what it must to defend itself. clearly though, donald trump had no wars during his administration when he was the 45th president. it was under his administration the abraham accords brought business relationships to be established between muslim countries and israel for the
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first time ever. >> i agree. that was completely thrown out. the abraham accord was probably one of his greatest accomplishments in office and i held a bit of knowledge of that when we were negotiating with morocco and putting that package together and that was a great step in the right direction and since the president left office, the middle east exploded. it's very unfortunate about a lot of lives have been lost that i would surmise may not have been lost and now i think it's our job to support israel. of course and try to stabilize the middle east again. this regime, you know, the biden harris definitely in my opinion doesn't have the capability of doing that. liz: quickly on ukraine, they're a very, very big hot spot and donald trump said positive things about vladamir putin and
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front page of "the wall street journal" today and appears there were two airplanes that were coming from european countries headed to the united states that had explosive devices that experts have trailed back to russia. the russian government. how do you think putin should be approached. ed? >> you've got to make some sort of deal. i would imagine and it doesn't do any good to paint an adversary like putin into a corner, which seems to be a common trend over the last four years and rather than leaving the villain some way out, but this is going to be something that colander in chief like former president trump can absolutely accomplish. i believe. liz: you heard jeff green making some comments where he absolutely believes that kamala harris and currently the biden administration have created very
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fertile ground for at least his real estate business to do very well. and he's a supporter of harris and you want to make a comment about that? >> yeah, all due respect to jeff green and real estate in palm beech and elsewhere. i pretty much disagree with everything he said. the economy is not doing well. it's historic this inflation is killing people and mortgage rates are really hurting people from buying homes and it's unprecedented it's happening in new york and all the hotel rooms are filled with the illegal immigrants and it's costing the people in new york huge taxes to support this and the schools can't take them and it's a catch and trump said i'm going to close the border day one and drill, baby, drill because the
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economy is based on cheep energy and we need cheep energy if we want to bring jobs back from china and europe and elsewhere. we need cheep energy to do that and so he has the specific plan he's let everybody know and his team knows exactly what the plan is and how to do it with his leadership. you're going to get inflation down, you're going to get oil prices and inflation downings i think pretty dramatically. and hopefully put out these fires in the world that have ignited over the last three and a half years that are unnecessary really. liz: am bos dorman, you're also the own -- ambassador, you're the owner of the jets and the deadline is soon and the closing bell and lots of green on the screen. who knows what tomorrow brings, we'll be here. larry: hello, folks. welcome to kudlow. i'm larry kudl

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