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tv   Varney Company  FOX Business  November 22, 2024 10:00am-11:00am EST

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what does a good investment opportunity look like? at t. rowe price we let curiosity light the way. asking smart questions about opportunities like clean water. and what promising new treatment advances can make a new tomorrow possible. better questions. better outcomes. brian: they threw loverboy in there just for me? good morning, 10:00 eastern. i'm brian brenberg in first
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stuart varney, straight to your money and markets are, dow, s&p, nasdaq in the green, doubt nicely, 300 plus points, 10 year treasury show me what is going on, down just a little bit. oil, where's that? trading almost 1% and bitcoin is when i was watching, 97-2, waiting to get to 100 k. meantime we are going to go to tammy bruce and talk about the view and what is going on. they are fuming today about joe rogan saying he's not a reliable source. tammy:that's why people know our show, we are checked by abc news. if we are wrong, we have the legal mode here.
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they want from walter cronkite to this guy, joe rogan who believes in dragons. this is the type of bad information that is going out there. brian: joe rogan responded that's my new x description. he promptly changed to his bio to read dragon be lever. tammy bruce is with me and wants to weigh in on this. the view saying joe rogan is not a reliable news source. tammy:nice to see you on friday. my pontificating -- a harsh taskmaster, that's what you are looking at when it comes to legacy media. the idea of podcast making a difference, some guy that hasn't done what they have done. you can see it happening. we know media is changing and
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they mentioned legal notes. this is a show that multiple times giving legal notes wednesday said something about someone that was seriously not true enough to where clearly somebody said you've got to retract that. people know that is entertainment but they want to be influencers and they know they are not. brian: joe rogan asks interesting questions, talks about issues that are outside the boundaries of what you normally talk about. they want to know. >> things that affect everyone's lives, that's the podcast that kamala harris would not do. trump was right there. this is how comfortable you are not being able to know what questions you will be asked because they haven't pledged allegiance to you. americans want more of that because we can make up our minds including about dragons. brian: it is fun when, i don't
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know a thing about dragons but i'm interested. >> komodo dragons are upset at this conversation, they do exist and are wondering why aren't we on rogan. brian: another one. island the generous has reportedly left america, moved to britain because of trump's election victory. eva long gloria has left, ellen is on her way out. okay. you want to go to england go ahead and do it. hammer they can come back. in the older world it would take weeks to get to england and you would stay. you wouldn't get back here. here is one of the reasons trump was elected. when you have all the money in the world and she is super rich you can go where you want, protect your self and the environment and live the life you want to live no matter where you are. this is, this election in this
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country is about regular people, people still struggling for the american dream who don't get to sell their $500 million mansion to fly to live in london which also costs $500 million. it's not a normal world. what they are upset about is the factor that nobody cared what they are thought. we care about what our family thinks and what our neighbors think and what our children think and that's their problem. they want to go someplace they are the ones that matter. the whole world is changing, england along with it and the european union. brian: collections about people who love americans want to stay here, happy to say goodbye to those -- >> abandon the house because you didn't get your wish for dinner. is not the kind of people you want to hang out with anyway. brian: i love hanging with you. appreciate it. we got the latest read on
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consumer sentiment. you've got the number. lauren: 70 one. 8 is the highest since april, lower than the expected 73.7. the year ahead inflation outlook is cold, 2. 6% and that's the lowest since december 2020 so 5 year inflation outlook edged up to 3. 2% % so got to keep an eye on it. brian: people are worried about inflation. back to the markets, dow is up 300 points. heather, you are watching the trump trade, you like it, you've got ideas how to play it. what do you think? heather:we just got inflation data taking up a little higher in the long run. i think inflation is going to come back, now the fed, they won't cut rates anymore but this massive spending fueled by washington even post covid during the biden administration and disguising it as inflation
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reduction act, helping people two years after the pandemic it ended caused massive pricing to go up across the board so just because trump is going back in office and dogvivek ramaswamy reining in the wasteful government spending. i don't think we are out of the woods with inflation because we've dug ourselves a hole so deep. brian: so are you telling investors to buckle up for higher inflation this year? we've seen the rate come down a little bit, it has plateaued the last couple months. are you looking for that to take up in 2020? >> i think you will see higher inflation, we will see spending out of washington even though we are reining in some of the waste in government inefficient programs so to speak and the 10 year at 4. 4% today% today, maybe a pull back a little bit but i think you can see a 5% pretty soon and that's why bitcoin, story
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of the day, 100,000. brian: i know about today. >> i hope we hit it today. brian: i hope so but i don't know, let me ask you something. the last couple days of been about the bitcoin bulls, they are excited we are going to 100 k. i don't think we are in that camp. it >> i've been a skeptic since day one and i will probably be the only skeptic crypto person you have today. are you late, am i late to the party? if you listen to everyone who's involved in crypto since day one, they say there is more room to run and you can tie it into the inflation story that with $37 trillion in debt investors are saying maybe they will devalue the currency. you understand a new administration coming and that is supportive of the crypto
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market, bitcoin is finite, scarce, there is a limited amount of bitcoin, we are no longer on the gold standard, it makes sense, we need something to stop the money printing. brian: you can't use it enough yet and that's your biggest problem. >> i can go to the hair salon and transfer from consumer to merchant we are good. brian: i am glad you said mcdonald's. great to see you. crypto companies want to get a seat on trump's crypto advisory council. madison:they are trying to grab a seat on the crypto advisory council. during the campaign stop at a bitcoin conference trump promised this new counsel as part of a crypto friendly administration. now that he's president-elect the transition team is discussing how to structure and
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staff it and which company should be included which is why we are seeing this jockeying now. brian armstrong also reframed at with trump. it is unclear what they discuss but it is reported that coin base which is the largest us crypto exchange is also interested in being on the counsel, cavuto counsel would likely be house under the white house's national economic council coordinating the economic policies and take a look at dj p up almost 3%, you see a lot of movement. that's obviously not trump but we know when djp is up markets like what he's doing. brian: is very interested in that crypto conversation. automakers telling trump, this is weird, they are telling trump forced us to sell tvs. >> because they've invested too much money in evs already. essentially most automakers don't love the stringent rules put in place by president biden but have invested billions in
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the transition to electric vehicles. they fear if trump makes an abrupt change as he has been promising, it will be costly for ottomakers and undercut players like ford, general motors and stellantis have invested a lot. they would lose out to others that sell cheaper gas powered cars so what we are hearing is ford, gm, stellantis are strategizing how to make a delicate request to donald trump. it will be an uphill battle because we know trump said these ev mandates are democrat driven and prevent americans from buying gasoline cars that they want to but what we are hearing is automakers are going to try to ask for adjustments like longer compliance times or lower penalties for automakers that don't follow the rules. of these rules even continue to exist. brian: it's a hard sell to say tax payers, we went all in on all these left-wing plans and now we want you to keep doing them even though you voted for somebody else who said
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scrapped. >> automakers probably will and can make, they employ thousands of people and if they fall apart as companies what does that mean for the american workforce, unemployment etc. . automakers, a lot of unions, a lot of vote to there and it is a backbone of american industry. brian: we will follow it. great stuff. matt gaetz is out, pam bondy is an. ron johnson talked about the new energy pick. chicago's largest mining shelter is closing but the mayor is doubling down on not helping ice. >> we are not going to ask our police force to service ice agents. we are not going to do that. brian: we will tell you how the city continues to struggle. and russia threatened to attack an american defense base in poland. full story next.
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brian: hours after russia launched a ballistic missile do ukraine, the kremlin threatened to attack an american defense base in poland with advanced weapons. victoria coates, thanks for being with me. would this be a direct attack on nato? >> reporter: this is deeply concerning. this is a new missile defense based on the baltic sea the united states just opened. it is one of our most sophisticated missile defense systems. it protects not only poland but
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our baltic allies, lithuania, latvia and estonia. this would be an attack on the united states, on nato. i have a bad sense we are drifting back into the cold war here. brian: i want to talk about that very bad sense. you get saber rattling, rhetoric and things that translate into action. how are you reading the rhetoric from russia right now? >> this has been an escalatory pattern for the last week to 10 days since president biden decided to give the long-range attack missiles to ukraine, to attack in russia proper and the kremlin didn't like that. they lowered the threshold for having a nuclear weapon, fired an icbm, intercontinental ballistic missile which was bizarre, those only exist to carry nuclear weapons but this
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one was modified to not carry a nuclear weapon. now we have this. things are heating up in ukraine. the problem is the united states is in transition from one president to another and it is not clear who is calling the shots. brian: do our adversaries view the two months before donald trump takes office as a window to do exactly this sort of thing? >> transitions are always dangerous but they can be orderly if it is clear the caretaker president is just that, not making major decisions, not creating crises but the biden administration seems to be doing the opposite as if they want to make the situation is difficult as possible for the incoming president. clearly vladimir putin knows donald trump, he knows there will be a more firm hand on the american tiller when he's inaugurated on january 20th. my hope would be he keeps as much in the box as possible
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until then to allow for a negotiated end to this terrible war but it's concerning for the next 60 days. brian: senator john fetterman slammed to the international terminal court after they issued arrest warrants for benjamin netanyahu and gallant. fetterman said no standing or path beneath that. is there any significance to arrest warrants? >> there is. not surprisingly a conservative but as a native pennsylvanian i am proud of the senior senator from pennsylvania for telling it like it is. the united states, neither of us are signatories to the icc. we have countries from holland to canada on ounce they will arrest the sitting prime minister of israel if he sets foot on their soil.
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these are nato allies of the united states saying this. it is chilling to hear this happen. the other thing is they issued an arrest warrant for one of the dead leadership of hamas that israel has eliminated so it shows how ridiculous this is but it is not fair to have the duly elected prime minister of israel not be able to travel to a nato ally. brian: we've got to leave it there. now this. lawmakers were briefing on potential outcome of a war between america and china over taiwan. who would win in the wargame? >> reporter: america would win. wargame show america with the alliance of taiwan and japan would come out on top but not without suffering huge losses. house lawmakers were briefed about the potential outcome if the us were to find itself at
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war with china over taiwan within the next two years. military analysts say a by 2027 china would be equipped for an invasion of the island. the us has followed a policy of refusing to say whether we would defend the island of china invaded but in these wargames laid out by the center for strategic and international studies, they are talking 10,000 troop casualties across all fronts in three weeks. the report emphasized two points if it were to happen in real life. one, taiwan must hold the line of the ground invasion. 2, there's no ukraine model where the us can slowly escalate. neither need to be in or out. 3. military operations would need to be conducted through japan. 4. the us needs to immediately increase its supply of anti-ship missiles. according to the wargames they
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assumed 2026 launch date for china's invasion of taiwan. brian: it shows a shipbuilding gap we have with china. we are way behind and that's a crucial asset in that region in a conflict like that. lauren: china is ahead in shipbuilding and amphibious war machines as well. brian: the dow jumping this morning. green for the dow and the s&p, nasdaq off just slightly. next month of the biden administration will roll out and ice portal apps for migrants in new york city. madeline rivera has details at the white house. how does this work exactly? >> reporter: this apps will release restrictions for migrants. you may be asking how is this supposed to work? this apps will allow migrants to check migration officials using a phone or a laptop meeting they don't have to appear in person.
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the apps is reportedly half-baked. homeland security sources tell the post the software is glitch dagen: and doesn't track violent location, if using android or laptop and doesn't check past arrests or outstanding warrants. we are awaiting a response from the department of homeland security who reached out to them but press secretary karine jean-pierre says there are no policies to preview. >> i laid out what we have been doing since we moved forward with executive actions in june and what we've seen, they are lower than they were four years ago. >> reporter: the apps will be unveiled in new york city which has been struggling with an influx of migrants. more than 223,000 migrants arrived from the big apple since spring of 2022 and from a financial standpoint the city
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spent $3.7 billion for asylum shelter, food and other services this fiscal year. >> under president biden we saw an open border, 12 million illegal immigrants invading this country, the worst illegal immigration in our nation's history. that is going to end. it is going to end on january 20th. or >> reporter: >> reporter: the new york post reports 100,000 migrants will be unrolled in the first wave of the program. brian: thank you for that report. speaking of the border look at this. a venezuelan gang member looking smug after being arrested for a disturbing break in at the home of a new york city assistant da. south dakota senator mike rounds introduced a bill that would abolish the department of education. >> $16,000 per student per year. it hasn't made any difference. if you take a look, most of the
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brian: republican absences in the senate help democrats confirm biden's judicial nominees. how many nominees have gotten through since the election? >> reporter: 8 or nine have got through with a few more on tap to get through. the numbers fluctuate right now but as of yesterday, five more biden appointed judges are a step closer to crossing the finish line. they made it out of the committee. donald trump made clear he was mad that these biden nominated judges were getting confirmed. ultimately the senate has a democratic majority. he was not going to get his way. fox news was first report democrats cut a deal with republicans that may benefit trump. the deal approved by chuck
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schumer allows democrats to move on more district court judges without republican slow down tactics on the floor. republicans say they plan to oppose the nominees but promised not to use other procedural methods to slow things down. in return, democrats promised to they will not fill four appellate court spots and let the trump administration appoint those spots. schumer's team is framing it as a win for democrats telling fox the trade was first circuit court nominees locking the votes to get confirmed for more than triple the number of additional judges moving forward. president biden has 220 judges confirmed as i speak to you that was nominated, 260 getting another 40 confirmed is unlikely before he leaves office and if they need a tiebreak, kamala harris is in hawaii on vacation, she will be in washington next month if she
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is needed to get these biden appointed judges across the line and democrats and some republicans believe another 7 to 10 will get confirmed in the next couple weeks at least. brian: the effects can be felt for years, maybe decades. >> lifetime appointments. brian: thank you. now this. republican senators have publicly expressed relief over matt gaetz's decision to withdraw from attorney general consideration. ron johnson from wisconsin joins me now. good to see you. trump has announced pam bondi as his new attorney general nominee. what do you make of that? >> i think it is a good choice. she has experience as state attorney general. donald trump needs lawyers. the era of big government is not over. donald trump recognized after his first administration, you have people in the deep state undermining the administration, he needs people willing to fight.
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they won't cave or will to under pressure. pam bondi is a fighter. brian: of our conversation with all these nominees has been can they get through? how big is the fight? 's pam bondi seems like she will be less controversial. do you expect a quicker confirmation for her? >> i think most republican senators are of the mindset that unless there is some very disqualifying aspect in the background, we will go through the process and that's why we have a confirmation process but by and large i do believe the confirmation process is out of hand. i would love with work to reduce the number. on the judges, there's nothing we can do to stop the district court judges. the win is preventing certain
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court judges, most of those cases don't get taken off the supreme court. one circuit george -- circuit court judge went through, a real problem. republicans in their hands. joe manchin and kirsten sinema agreed to vote with republicans. that the on the way to block circuit court as well. democrats have been confirmed as well. this is a favorable deal for republicans. brian: chuck schumer, might not be as good a deal as he claims it is for democrats. that's what everybody does when dealmaking, claim you got the best deal. your calling mike rounds, introduced a bill to abolish the education department. listen. >> eliminate the federal department of education. the vast majority of the decisionmaking back to the states and tribes and recognizing there are a number of programs the department of education has that a lot of people feel are important like
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special education. we spent $16,000 per student per year. it hasn't made a difference. if you take a look, math has gone up four points in four decades. get the bureaucrats out of this thing. brian: republicans have been talking about this for a long time. have the chance is meaningfully improved? >> ronald reagan pledged to a lemonade that part of the. asian. donald trump ran on it. i am supportive of mike rounds. education should be a state and local issue. i don't see a role for the federal government. $1.8 trillion a year deficit. we should eliminate the department. and reducing the size of government.
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brian: more than just chopping up and giving it to other agencies. there's a little of that but mostly shrinking what the doe does and saying goodbye to it. >> the fact that federal government took over student loans, entice children to incur one. $6 trillion of student loan debt. the essential burden under the biden administration very unfairly, more spending. no matter how you cut it the department of education has been a miserable failure. brian: a lot of success with that one. thanks for being with us. bob casey has conceded after the recount for pennsylvania senate seat. what do you say? madison:he called his opponent to congratulate him on his when more than two weeks after the election. listen to what he had to say. >> i called dave mccormick to congratulate him to represent
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pennsylvania in the senate. pennsylvania can move forward with the knowledge the voices were heard whether their vote was the first to be count or the last. >> reporter: mccormick edged out casey by 17,000 votes to win that senate seat. that put casey in the 0.5% margin of error required under pennsylvania law to trigger an automatic recount. that recount began monday and was slated to end november 26th. we had that decision before that date. mccormick reacted on the ingraham angle saying it should have been decided weeks ago. >> enough is enough. we've had election after election called in dispute. we need legislation in pennsylvania to ensure, to enforce the law, national voter id, donald trump is advocated that and advocated in the senate.
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>> reporter: voters have criticized the cost of these, costing taxpayers and estimated one million dollars. goes on too long, $1 million later. brian: howell doge operate when federal agencies resist cutting wasteful spending? musk and vivek ramaswamy are pointing to recent supreme court rulings. we got the details. and ai jesus in confessionals. we will explain it, i guess. that's next. ♪ ♪
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brian: a church in switzerland has equipped their confessional booths with an ai version of jesus. i hope you can make some sense of this because i can't. madison:and i, we talked about how it is coming for every job. it's after jesus's job. peter's chapel unveiled the new ai jesus which is an expert mental installation. you are in the confessional and then you can see a screen where there is an ai generated jesus. it features this ai version of the son of god. you are able to talk to it and it responds. the church has encouraged visitors to share their thoughts and questions with ai jesus but should not be considered the sacrament of confession. 2 thirds of participants said they came out of the
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confessionals having had a spiritual experience. one woman said she felt taken care of, walked out feeling very consoled. another person said ai jesus gave great answers to the questions about being faithful. one guy said the experience was a gimmick for sure. ai jesus speaks 100 languages. would you give your confessional to ai jesus? brian: i don't think so but i am wondering with all the ais trained on stuff, what data would you train and ai jesus on? if it's anything other than the old and new testament you would probably be straying a little bit. madison: i wonder how much of the confessionals will be used for future training. i don't want my information to be used for future answers. also, ai is very affirming. when you ask it a question it wants to say yes. not surprising people said should i be more faithful and
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ai jesus was like yes. brian: i think that's right. pope francis confirmed the first millennial saint. it will be next year. tell me about it. madison: karlo will be canonized in april, the first millennial saint. during his life he documented miracles online as a teenage web designer. he died of leukemia in italy in 2006 at the age of 15. he was informally known as god's influencer in the church attributes two miracles to him. they've not announced what those miracles are. he's touted as the patron saint of the internet. used his tech talent to take care of websites for catholic organizations.
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brian: the patron saint of the internet. i never thought i would hear those words. madison: between the two stories i feel strongly about karlo. brian: i would go that way too. quick programming note. martin scorsese presents the saints is available on fox nation. here's a look at the brand-new episode, john the baptist, which airs on sunday. >> come and be baptized in the river jordan. >> where are you coming from? >> jerusalem. >> i am preparing the way. >> how much longer are you going to let this filth stay alive? brian: catch new episodes every sunday through december 8th on fox nation? coming up a transnational crime ring targeting the homes of pro athletes like travis kelsey and
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it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... 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.
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brian: the department of government efficiency published its plans to overturn the biden/harris regulations. this is a big deal. everyone wants to know if it can happen. on what authority can they do this? >> reporter: elon musk and vivek ramaswamy wrote in the wall street journal opinion piece that they will use their constitution as doge's northstar, they reference two recent supreme court rulings when making the case that donald trump will be able to cut government spending through executive action alone. they write the use of executive orders to substitute for lawmaking by adding burdensome new rules is a constitutional affront but the use of executive orders to rollback regulations that wrongly bypass congress is legitimate and
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necessary to comply with the supreme court's recent mandates. the west virginia epa, and romano in 2024, the one that rolled back the chevron doctrine. in both those rulings justice is determined agencies can't impose regulations dealing with economic or policy questions unless congress authorizes it. musk and vivek ramaswamy have plenty of republican allies in congress as they try to cut regulations, shrink the workforce and reduce spending. >> we forwarded to thousand pages of waste that can be cut. i will do what i can to help them. we never had a president and the team like elon musk and vivek ramaswamy with this degree of momentum. >> reporter: there's resistance to the sweeping changes from house democrats and unions that
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represent federal workers. they are gearing up for a fight. expect challenges not only in congress but also in the courtroom to musk and ramaswamy's proposal. primary i would hate to be battling musk and ramaswamy. thank you. congressman mike lawler joins me now. you say lifting the salt is essential to trump's tax overhaul getting through the house. you will not support a tax bill if it doesn't get rid of salt. tell me why. >> correct. in a district like mine which is north of new york city we pay the highest property taxes in america. the on salt has had a very negative impact on my district in particular. 50% of household used to itemize deductions prior to the tax cuts and jobs act becoming
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law, it is now 19% in my district. the tax cuts and jobs act is strong and obviously helped grow the economy and create record revenue for the federal government but the on salt needs to be lifted. donald trump agreed with that during the campaign, said we need to fix the cap on salt. in 2017, republicans had a big enough majority that they could jam through a tax bill without folks like me in support. that is not the case this time around. there needs to be a good faith negotiation. if no tax bill is passed, the on salt, for those that are against lifting the cap on salt you have to negotiate. brian: the biden administration
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plans to cancel $5 billion in debt owed by ukraine. are you on board with that? >> no. i think there are a lot of ways for ukraine long-term to pay down this debt including using american companies in the effort to rebuild in ukraine once this conflict is over. i think president biden has a bad habit of trying to wave a magic wand and cancel debt and that does not help us taxpayers whether you are talking about the student loan crisis or waving away the debt incurred by ukraine. brian: is he doing this because he knows he won't have to deal with the consequences? is this a lame-duck kind of thing? >> i think so. obviously i am sure he is concerned about how the incoming administration will
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approach the conflict in ukraine but at the end of the day, i look at some things that is more paramount importance in the conflict. why under joe biden have the europeans been purchasing russian gas? he should have been more focused on that as a means of bringing this conflict to a close than right now trying to wave a magic wand away. brian: such an energy mess across the globe that has to be fixed. congressman mike lawler, thanks for being with us. still ahead. joe concha on pam bondi as trump's new attorney general pick. the exotic stock pick of the week. the border guy on a new caravan racing to get to america before trump gets in office. andrew gruel a chef, says his payroll taxes in california, $2000 higher than he planned. all of that at the 11:00 hour of varney coming up next.
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