tv Varney Company FOX Business November 12, 2024 10:00am-11:00am EST
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stuart: this is sixth avenue, new york. i like the music. lively and pleasant. good morning, everyone. a distant:00 eastern. to the money. we've got green for the nasdaq, green for the s&p, fractional loss for the dow industrials, the yield is moving up. we are now at 4. 36%. the price of oil below $70 a barrel $68.89, bitcoin, the rally continues. it is down from its high earlier this morning but putting it at 86.9. that's the markets and now this. donald trump is moving very quickly to establish his administration. it will be a huge policy reversal. what biden and harris stood for is being swept aside. it's been a week since the
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election but key members of the trump team are being put in place. we know about you on musk, in charge of cost cutting and regulation pruning. he's the man in the right place at the right time. marco rubio secretary of state, the scourge of venezuela, cuba and iran, foreign policy changes are coming. tom homan, borders are. let the deportations begin. leesville than, environmental protection agency, that the drilling permits be issued, let the ev mandates be abolished, mike waltz, national security guy freak only on this program, the winner of four bronze stars, two for valor. is not going to coddle terrorists. christie noam will head the department of run home loan -- homeland security, she's no shrinking violet. crypto policy will change. we don't know who will replace gary gensler but whoever does will be a pro crypto. tax policy will change.
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he or she will be a tax cutter. the direction is clear. trump is changing course and it has had impact, price of oil coming down. stocks also have hit record highs. the democrats are trying to delay, they don't want the president-elect to make recess appointments, they want senate hearings they can drag out as long as possible, they are standing in the way of a political tsunami, they have no leadership, don't know how to respond to trump's big when or how or what policies to pursue but trump does. he's doing exactly what he said he would do and that is why he won. second hour of varney getting started. jason che for joining me this morning, can the president-elect get all these reversals done?
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>> he is going to try to do so in the first week. it will take longer than that but this is not a man who sits by idly and waits for things to come together. he makes things happen. he's got a mandate from the people, he won the electoral college, he won the popular vote, has a good majority in the senate and they can get those confirmations into get his agenda into play sooner rather than later. stuart: okay. i'm hearing in my ears that the trump ruling by judge merchan has been de-laid. it just happened to. this is not your subject to. . the verdict, the judge's ruling has been de-laid. i'm going to repeat that. delayed the trump ruling until november 19th. he delays his ruling until
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november 19th. let's get back to you. blue state democrats slamming their party after the election. listen to what chris murphy had to say. >> issues of true economic populism, moving people from people who have it but people don't has to be the temple of our coalition. here's the other hard truth we have to face. we cannot win if we don't build a bigger tent. stuart: new york congressman who won his reelection said if you are using the words moderate or progressive, you are missing the whole.-- point. seems like a revolt from the right against the left within the democratic party. is that what is happening? >> i think the left became unrecognizable to most of america. they had no plan on the economy or to secure the board, no plan to secure the homeland, nothing
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they can deal with overseas, they kept trying to gaslight us and tell us everything was working at everybody in america knew it wasn't working when prices were up 20% across-the-board. they lack policy, merge further to the left, looked more like san francisco than the heart of america and donald trump with the coalition together and attracted people like we have never seen before that were normally in the democratic camp but came over to donald trump and now the republicans have the mandate. stuart: is there going to be bloodletting in the democratic party? >> as a republican, go ahead and take your time but there needs to be. they don't have leadership, they don't have a bench. look at gavin newsom, nobody wants to be like california and you go down the list and think who, how, why, what is their agenda?
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donald trump gobbled it all up and he is the populist president, the most popular politician and the biggest comeback in the history of politics. stuart: remarkable stuff. see you again soon. i want to repeat this breaking news. judge merchan has delayed the trump ruling until november 19th. today is orientation day for newly elected senators, dave mccormick has confirmed he will attend. schumer is retreating. lauren: republican the senator said we would escort dave mccormick into orientation, senate majority leader chuck schumer invited him officially. dave mccormick is there, new member orientation is underway at the capital. this got dramatic for dave mccormick because pennsylvania's incumbent senator bob casey is challenging the results, 99% of the vote is in and mccormick is
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up by just under 35,000 votes. stuart: he's got it. lauren: 5347 is the breakdown in the senate. stuart: ask io's is reporting the transition team, trump's transition team created a makeshift situation room at mar-a-lago. lauren: it is showtime. stuart: is this where he makes his pics? lauren: trump is a tv president, the team put up digital presentations, big screens of the cabinet and the contenders. it shows profiles and clips of their recent television races. trump wants to see how authoritative they come across and that will help him decide who to pick which reportedly he will weigh in specifically on 40 pics. i always had confidence sometimes the quiet people kept their head down, did a good job but i don't think that is going to work in trump 2.0.
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stuart: he's going to get them. check the markets please. the dow turned south, all the indicators turned south, 80 points for the dow, up 18 for the nasdaq. we are lower across-the-board. bitcoin, back up again, $87,000 a coin. look who is here? super bowl michael bourn makes his return. where is bitcoin going? >> i've been saying this since the previous cycle, the historical cycle for bitcoin is to triple the previous cycle. from 65 to 70,000 getting you close to 200,000 a coin for this cycle, especially coinciding with the having where bitcoin miners get half marie ward before the having
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cycle but having donald trump as president is a game changer because he wants to bring a clear regulatory framework, freedom and potentially no taxes on gains of bitcoin because people will try to use it to purchase things. total game changer for the backdrop of crypto currency and even if trump is able to successfully cut the size of government, cut the budget with elon musk we are still $36 trillion in debt there's been a massive amount of money created since 2020, devaluing currency, bitcoin's best days are in front of us, not behind us. stuart: you been talking about this, the best investment you can remember. is it still your favorite pick stock of your time? >> i wasn't in the investing world where microsoft was taking over the world, 7 or 8 years old, so now palantir is
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in a similar position microsoft was, we live in a data economy and data world from a corporate standpoint. all the data created from the beginning of the history of time until the end of the year 2003 we create and collect that much data every two days. if you look at a large multinational company to be able to access the information from all the different departments and systems, technology and security protocols, it is an impossibility for any company but palantir. the age of ai is turning into actionable, automated tasks or dashboards for management, palantir is the on the company than concern on top of the same management needs and repurpose it the way it is automated. not only is this in the
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enterprise sector but she signed a billion-dollar deal with the navy, huge deal for a company that only does $3 billion in revenue. stuart: you like it. thanks for joining us. thanks a lot. lauren is looking at the movers. honeywell is up 4% in an otherwise downmarket. lauren: elliott investment management takes a $3 billion steak pushing for a breakup because of separation of the automation and aerospace businesses. stuart: hurts? lauren: it is down -- code depreciation with their card. they took a $1 billion charge. stuart: what about micron? stuart: the research from college water, it is a cautious forecast and the prices they
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sell, this outlook is softening in the first half of 2025. stuart: all right, coming up, everybody loves raymond star patricia heaton calling out the media for fear mongering during the election. >> shame on you, shame on you, you need to go back on the air and tell them things are going to be okay and they are fine. stuart: we has more may heated video later in the show. the major new york tourist attraction with holiday lights, not this year. being canceled. more on that. today congresswoman elyse stefanik will meet with his relapse president, trump has spoken to benjamin netanyahu. what does this mean for american/israel relations? that is next. ♪
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stuart: we have the dow down 82, nasdaq up as well and a mixed picture this morning. netflix, cheaper plan with ads reached 70 million users. two years after it was launched. 50% of new sign ups have the version with ads. israel, five air strikes on hezbollah-controlled areas in beirut, israel's defense minister ruled out any
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cease-fire in lebanon until his relapse goals are next. trey yingst in tel aviv. the latest. >> reporter: good morning, tweeted organizations say israel missed a deadline to increase support for the gaza strip as the war grinds on. according to a recent report, 18 of 19 demand laid out in a letter by the united states last month were not met by the israelis. israel responded it has opened a new crossing for a delivery to gaza. the office of coordination and government affairs says the decision was made without a directive from political echelons. they are rising from the gaza strip as israeli forces continued their air and ground campaigns in the conflict. more people were killed and two israeli strikes in southern gaza. separate leavy idf announced the deaths of four israeli soldiers killed by hamas in northern gaza. we israeli operations ongoing,
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the idea of his continuing strikes against hezbollah in lebanon. funerals were held for 8 paramedics and two civilians killed in israeli strikes targeting the coastal city of tyre. 3,000 people have been killed in lebanon since the war began. a new campaign saying there will be no cease-fire at this point in the conflict despite reports of dipper medic efforts ongoing behind the scenes. those reports just this afternoon, sirens were sounding hearing his relapse second largest city of tel aviv as three missiles were fired on the city. stuart: thank you very much. ellie stepanek -- elyse stefanik will meet and capitol hill after she was named us ambassador to the united nations. israel's by mr. benjamin netanyahu spoke with trump three time since the election. one of these development tell
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you about israeli relations? >> it is a new don for us israel relationships and trump's decisive electoral victory, we know he has been a strong voter of israel for many years and the appointment of people like congresswoman stephan nick clears a message, she's willing to go on the lie an accident and debate anybody she has been pushing back on anti-semitism, on university campuses and the un is a central place where we need a clear voice in support for our key ally israel. we what is trump completely reversing biden's foreign policy? >> you could almost say that in the sense that we've gone over the last four years with donald trump with no new wars and basically piece around the world to a situation where you had metastasizing war in the middle east, iran has been acting up, deteriorating war in
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ukraine, bad situation with china and north korea. already you see reactions to donald trump's agenda, the decisive mandate from the american people but signals from the houthis, qatar and even iran, the new york times reporting they are getting worried. you can see donald trump, peace through strength attitude, both of those are important in rebuilding the military but also desire for peace, he said in his victory speech the other night, this will go down in history books, i don't start wars, i end them, that's the best republican tradition he's restoring and what the american people clearly want. stuart: can he end the war in ukraine? >> i think so. he hasn't revealed what his plans are but that's good thinking, dwight eisenhower didn't reveal his plans in 1952, richard nixon in 68, reagan in 80. i don't think we know about some of the signals from moscow
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and kiev have been positive to the possibility of negotiations. stuart: this one too. taiwan may purchase us weapons package with $15 billion. american weapons, that would be extremely provocative for china. wouldn't it? >> it is this peace through strength where donald trump has been right and against the foreign policy establishment, we need, as he said recently taiwan should be spending more on defense but he's not one of these guys who says xi jinping is evil, he says taiwan should be independent so a balance between strength and opening to negotiation with china but the key ingredient is for taiwan to do more by itself, should be standing 10%, he lets them free ride. this is a great example of how donald trump is going to make things better and safer not
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just for americans but our allies because taiwan needs to spend more to avoid a war. not to be jocular about it but this is winning. when indictment of the biden/harris administration, the biden people are constantly banging the drum that there's a threat to it yet taiwan is laying back doing nothing and they see donald trump get a decisive mandate and they are starting to act. we see similar signs in germany. stuart: brief video of china's new j 35 stealth fighter reveal that an air show. can't see much of it but that is brand-new. i they really challenging us militarily? >> absolutely 100%, don't take it from the. the biden administration has said xi jinping instructed the military to be ready for war by 2027 but biden's sector of the air force said he thinks the chinese military will say it is ready by 2027. a competitor for the united
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states, donald trump is right to run in a position of peace through strength and this is an area where it is so important to husband our resources, not to fritter them away and per referral wars as donald trump and j.d. vance have been saying, to get peace through strength and to avoid war. we don't want war but we've got to combine the strength with openness to negotiation with xi jinping, donald trump has gotten a lot of critiques for this and he has held onto this position. as jim baker, richard nixon, henry kissinger said you need to negotiate with your enemies, that used to be common sense and that is where common sense balance he's talking about of strength and openness and negotiation and so forth. stuart: you covered a lot of ground in a short time, that is real cool, see you again soon i hope. those soccer fans attacked in amsterdam, there have been more arrests i understand.
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ashley: five new people arrested on assault charges for their alleged roles in the attack. the violence is being compelled to nazi germany in 1938, broke out when hundreds of israeli soccer fans attending a soccer game in amsterdam came under anti-semitic attacks as you can see from this video, for five were sent to the hospital, 25 to 35 were injured. a total of 63 people in connection to the violence, some have been released but the dutch prime minister vowing to bring those responsible to justice, calling the attacks shocking and reprehensible. stuart: thanks very much. coming up, oprah winfrey says she was not paid by the harris campaign. >> is a true they paid you $1 million for the endorsement for kamala? >> not true. i was paid nothing. stuart: but what about payments
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to her production company? we will get into that. our next guest, millions for democrats at the national convention. another party, the rich, her words. she tells us why she voted for trump next. ♪ ♪ what does a good investment opportunity look like? at t. rowe price we let curiosity light the way. asking smart questions about opportunities like ai.
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stuart: speaker mike johnson has invited donald trump to meet with republicans on capitol hill tomorrow before he goes to the white house to meet president biden. we are down hundred points for the dow, a mixed picture. lauren is looking at the movers and what is going on with nvidia? lauren: the stock is going up $30 from here. they say ai in the early stages, annual revenue growth averaging 38% each year. nvidia is up nicely today, many other chipmakers are down. stuart: airbnb downgraded.
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lauren: the equivalent of a cell, stock off 2.5%. they have higher cost. a big one chipotle. . they have officially named a permanent ceo, scott boatright replaces brian nichol who went to head up starbucks. stuart: thanks. progressives are deflecting blame for last week's election losses. hillary vaughan on capitol hill. what are the progressives saying? >> reporter: house progressives say they are not a problem with the democratic party, they do not think the progressive left is to blame for alienating voters. they say the problem is with establishment democrats tied to big money. they think they are the ones holding the party back. >> it's what they do every time but let's look at what their votes were in critical economic issues, how many take corporate pac money and then tell me how you think it was progressives that are to blame. stuart: progressives welcomed new members to the caucus on
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capitol hill, they are plotting their next move, some progressives want to turn this lame-duck session into a last-ditch effort to thwart donald trump's agenda by getting as many immigrants who are waiting for their legal paperwork and spend as much climate money congress allocated as fast as possible. >> there are a lot of people who could be us citizens. we should make sure people have the paperwork they need so they don't have their civil liberties violated by the right-wing crazies that trump is about to put in power. as far as the climate goes, the more we can get federal support to those businesses and workers that will use the dollars responsibly we should get the dollars to them before trump find a way to get it to one of his donors. >> reporter: there's going to be progressive pressure on president biden to use his executive authority to lay some roadblocks for donald trump's
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agenda, even though executive orders can be undone, it will at least tangle up the trump team and delay them getting their agenda in place. stuart: just delay, thanks very much. a headline for you. i raised $50 million for the democrats, this week i voted for trump. the democratic party turned its back on me and my family long but turn i turned my back on it. a former democratic campaign operative joins me now. this seems to be the swing in american politics, which people increasingly devoting democrat, working people voting republican. at but point did you change your mind, change your vote? >> it happened when i went to the dnc in august, i felt the democratic party had completely lost its way and will not be able to redeem themselves for this election. and since of than over the last
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couple months i've been trying to figure out if i was going to vote third-party or donald trump, in the last few weeks before the election i made the decision to vote for donald trump. stuart: what has been the reaction from friends and colleagues to your changing your mind? >> absolutely. from friends don't work in politics they have been extremely upset by my decision. they told me they want nothing to do with me, i'm out of their life forever, i voted against them and their rights and that has been extremely painful to deal with, these are people i have known for over 10 plus years. interestingly enough, i've had several people reach out to me privately that i worked with in democratic politics and this is an mind blowing, the told me they too supported donald trump. that has been mind-boggling.
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i thought i was the only person that felt this way and it turns out -- stuart: you are not. one reporter at cnn claims democrats are still soul-searching after their loss. listen to this. >> i can't underscore enough the dark place, democrats are in right now as they are trying to take stock of what happened last week. the questions they are asking at this point are not what went wrong but did we do anything right. it goes back to joe biden his campaign. there is so much anger at the way that he insisted from the beginning on talking about the data, pointing to data that showed the economy was on the upswing, stronger than people thought. it had the effect of making people feel like you don't understand. stuart: have you switched your idea of what makes good policy?
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do you now favor tax cuts? do you favor border control? have you changed your mind about policy as well as party? >> hello? stuart: i'm sorry. i think we lost you. i wish that question had gone through. it was a good one but thanks for joining us. we will have you on another time. actress patricia heaton unloaded on the media for their reaction to trump's victory. what is she saying about it? ashley: she didn't mince words. heaton called out the mainstream media for what she said has been over the top and extreme when vilifying trump supporters. watch this. >> whatever groups, whatever media, pundits, all these extremists that are allowed television time who told women that this is going to happen to
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them, shame on you. apparently there are some really vulnerable people who you targeted and fear mongering to. and you need to go back on the air and tell them things are going to be okay and that they are fine. stop saying people who voted differently from you are, quote, uneducated. ashley: she recorded that video after returning from a visit to israel. she called the election outcome very good for the jewish people. stuart: media pundits unable to acclaim i many latinos voted for trump. >> everything that happens to your mixed status families, wives, sisters, from here on an. >> maybe voting on economic issues but at the end of the day voting against their own self-interest. stuart: voted against their own self-interest. how arrogant can you get?
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your home powers up. power your life with generac. call or go online to request your free quote today. stuart: the dow is down hundred, the nasdaq is up 16 points. i want to check ali baba. they just released an ai powered search engine for small businesses in europe and the americas. it is up 3%. the 10th straight year, manchester, new hampshire in the market.
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the mayor of manchester joins me now. why is your city so popular? >> thank you for having me. i appreciate the opportunity. we set the conditions, we have very low form. it is rivaling downtown at the university of arena, the baseball team, restaurants and have seen that every other day, doing another ribbon-cutting here as well. just last week we had 250 unit target complex here. the question i would ask is why would anybody want to do that? stuart: i noticed kamala harris won manchester by seven points. is that because you are getting a lot of people from massachusetts who are moving to new hampshire and bringing liberal politics with them?
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>> i think i would -- elected officials always get in trouble when they try to play pundit. i'm looking forward to working with the trump administration, our federal delegation to make sure we are continuing to move manchester forward in the coming years. stuart: have housing prices gone up 10 to straight years? >> one of the things i have to look for in this respect is increasing inventory that i have. a limited amount of supply and demand. in the city of manchester, zoning rewrite, and bring more units in manchester. into the city of manchester, to set the city of her success in the long-term. stuart: i'm surprised you haven't mentioned manchester
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has become biotech center. have i got that right? >> yes indeed. i think this is a continuation of the story manchester has always told her. when we emigrated to manchester one hundred 40 years ago, they were in the middle and one hundred 40 years ago we were living in textile manufacturing. now we have this incredible medicine industry being built here. the continuation this holds, manchester is leading the world, for generations to come. 7,000 new jobs, 35,000 indirect jobs created as a result and that will make house the silicon valley of the east coast and with that, housing pressure as well running out of inventory. stuart: this is a boost for housing prices in manchester, new hampshire. thanks for being with us, congratulations, see you again soon.
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>> i hope so as well. stuart: still ahead. i work in new york. i noticed the slow deterioration of the city, there is one glimmer of hope, donald trump made big inroads in the city. that's "my take" at the top of the our. judge merchan delayed the hush money case against trump until november 19th. brian kilmeade on that next. ♪ starting a business is never easy, but starting it eight months pregnant, that's a different story. with the chase ink card, we got up and running in no time. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card from chase for business.
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he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people. stuart: the standout moment of the markets is bitcoin at $86,000 a coin. later day reached 89,000, bitcoin on a tear. 86-5, warned apple to stop geo blocking practices. apple is up $0.50 on this.
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brian kilmeade, judge merchan delay the ruling on trump's hush money trial until november 19th. any that? brian: i went to stay in the spot light. i want to stand up to the president elect, how well it worked out for me and everyone got to know my name. we dredge around the in and named it faces. i do a photo shoot to get ready for the trial, get the conviction, became so unpopular with the american public, stopped mentioning the president was convicted on 334 counts in his court of law because everyone knows the case is a joke. governor cuomo said the only person that would have been tried in this case was donald trump.
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now you delay longer and come back again. cost trump more money to appeal this. stuart: i hope so truly. the new york judicial system trash the reputation. liberal media pundits disparaging latino voters after trump's when. >> you voted against your own sisters. you own everything that happens to your mixed status families and to your wives, and sisters from now on. >> it's not just misogyny from white men but from hispanic men who do not want a woman reading them. >> they were voting on economic issues but at the end of the day voting against their own self interests. >> the number of latinos and latinas that voted for donald trump despite his racist rhetoric makes me want to pull my hair out because not only is
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it voting against your best self-interest here. stuart: voting against their own interests. in whose interest is 10 million illegals migrating into this country that we pay for, whose interest is that? brian: the immigration system, nothing to do with being hispanic, she was a terrible candidate, she was doing better than joe biden, joe biden was about to get his butt kicked by the former president, internals were so bad, was not told about it, they had to flip to an unpopular vice president who ran a terrible campaign, managed to spend one billion dollars and over $20 million, congratulations, even on the business channel they couldn't figure out how to make that possible. now you blame misogyny? nikki haley would beat her easy. nikki haley was indian. that's minority against him in this country. continue to talk about hispanics like that and you will never, you will lose more
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and more hispanic votes, you continue to put them down for not voting the way you choose for them to vote. many hispanic families take pride in going through the system the right way, getting work visas, sending the letter and getting the full visa but if you are a criminal you are going to be gone. they are going to hunt you down. if you are on the fbi terror watch list they will hunt you down. if you are here and overstated didn't show up at your hearing they are going to hunt you down and you deserve it. mixed status, and love, whatever, you had a court date, you didn't show up, that is on you. i had a court date, you miss a speeding ticket they take your license away. keep doing it they put you in jail. that is what american citizens, that is not anti-irish. they are not anti-italian, they saw someone break the law. we continue to make these universal statements, it shows you know nothing from your her and this loss one week ago today. stuart: i think tom homan put
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the fear of god into them and that's a fact. you are all right, thanks for being here, see you next week. still ahead, jimmy failla denying being paid $1 million to campaign, and an environmentalist on from preparing to withdraw from the paris climate agreements again. the texas salon owner who was jailed for staying open during covid won her seat in the state legislature. jonathan morris on how catholic voters were critical to trump's election victory, 11:00 hour is next.
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>> the left would be able to bully and shame people into silence. that's a source of their power and always has been. >> policy from pro crypto from the new administration, and it's telling us that people believe in risk, people believe in the future. >> they do want to actually help this carry out events where
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