tv Kudlow FOX Business December 13, 2024 4:00pm-5:00pm EST
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losers from 20246789 liz: we go not have a down year, certainly not right now with 11 trading days left. sam, great to see you again. appreciate you coming on. folks, ton friday, the 13th, call it a bit of a draw here, s and p and nasdaq and -- s&p and nasdaq on the green and dow and russell in the red. that's it for us. have a lovely weekend. larry: hello, folks. welcome to kudlow. i'm larry kudlow. here we go again. chinese spy balloon 2.0, drones are flying everywhere. no one seeps to know friend or foe, who, what, when, where,
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how? the latest on this incredible story and a breaking story and we don't know if it's breaking and we have congresswoman claudia tenney and special forces drone expert. president trump can't afford to lose stock market zeitgeist and that's the subject of the rift. can't find who, what, when, where, why? let's go back to donald trump yesterday ringing the bell at new york stock exchange as time magazine's person of the year. this is mr. trump capturing the
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stock market zeitgeist and much happier story than the drone story. donald trump pay as lot of attention to stock market and going for president trump going for them and the stock market is important. our colleague at breitbart points to a very interesting line. ugov survey. listen to this. 72% of americans say the stock market is what or very important. and black americans slightly more likely to think stocks are important than white americans, but it's almost even up at about 65%. hispanics just slightly less so. equally surprising and not just rich people with the market. according to the poll, almost
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half of americans that make under $50,000 a year, they say the stock market is important. all right. and among earns. 65% think the market is very or somewhat important. those are middle class folks. through pensions or iras or 401(k)s or direct brokerage accounts have a piece of the rock. i'm going to bet that. no, in real inflation adjusted terms up till this past election day, the s&p 500 gained 15% under biden. that's adjusted for inflation in his first term. under mr. trump's first term, up 51%, quite a difference. adjusted for inflation.
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but that's not really a surprise because mr. trump likes business. mr. biden dislikes business. mr. trump is cutting taxes and regulations. mr. biden is raising them or has raised them and during mr. trump's first term, inflation was practically nil while during mr. biden's term inflation hit a 40-year high. however, after soaring in the months after the trump landslide, that's fallen about 1200 points in the last ten days. while mr. trump did tell the new york stock exchange that he was going to cut the corporate tax to 15% for companies producing domestically here at home, it's a very good idea. nonetheless talk in the senate and even inside mr. trump's own
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transition team of delaying the tax cuts for the president elect and this ought to be a signal to go with tax cuts right away and combined with the other policy priorities and do not wait till the back end of the year. back to the 2.0 drone story in new jersey and fox news nate foy and de- details on this whole wd
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story. nate, help us out, please. reporter: larra i i have details and unfortunately i don't have answers and neither did john kirby last hour from the white house and said that president joe biden is working very hard on this with his team to try and find some answers, but they don't have any right now. we know house speaker mike johnson had that classified briefing today and waiting to see what co comes from that, bue do have plenty of new videos, plenty of drone sightings across the entire country overnight. take a look at these videos from not only new york and new jersey but also connecticut, pennsylvania, california. i just got off the phone with a witness in pennsylvania. she says the drones were out there for hours moving in all different directions, some of them were hovering. new jersey governor phil murphy wrote a letter to president biden reading in part "it has become apparent that more resources are needed to fully understand what is behind this activity. activity". larry hogan, a former maryland is among the eyewitnesses and posted on x he saw dozens of
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what appear to be large drones 25 miles from our nation's capitol. here's congressman josh got heimer with his a-- josh god gohheimmer with his assessment. >> not concerned about safety or national security regarding the drones. the agency is chiefly responsible for monitoring drone activity and must immediately disclose more information to the public. reporter: larry, today officials in new york requested nypd get involved to support what many think is a lackluster federal response. senator richard blumenthal requested a message from the faa to get involved and a drone expert analyzed hundreds of these videos and in his opinion, the large drones, the ones that are the size of suv as many people have put it, he says those are actually planes and people are mistake and that's in line with what the white house and fbi are saying and the
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residents and local officials in new jersey are 25 daintiest this mystery and want clearer answers than that. back to you, larry. larry: can i just ask you, why is everybody like josh waxer he's a democrat but good fella, smart guy. why is he and john kirby and president biden know they're not a threat? i'm curious. i don't personally feel threatened here in this studio at fox and i know the floor managers and the camera people will protect me, but what about the rest of the country? that's oojoke. what about the rest of the country. how do they know -- i'm glad you're laughing at that. got to be a laugh here some place. how do people honestly know this isn't china, you know, some kind of china spy satellite 2.0 or something worse? how do we know?
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reporter: we don't know, larry. it very well could be a foreign adversary, and we've heard lawmakers on both sides of the aisle from senator kirstin jill brand and congressman -- kirstin gillibrand and congressman saying that's not true. the federal authorities are saying there's no evidence to support claims the drones are dangerous or that they come from a foreign adversary. but then people include ago lot of local officials here in new jersey who got briefed on the matter came out tour yous saying how -- fire yous saying how can you -- furious saying how can you tell the public there's no threat when you don't even know what they are. larry: one last dumb question, and you're doing great, nate. we love you for it. reporter: i appreciate it. larry: there's drones flying over la guardia airport; right? those are the reports. maybe that's not true but that's been reported by reporters. maybe you're one of the reporters. is there enough air space over
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la la guardia, which is not that big, to accommodate drones and airplane s? this is a dumb question and people are traveling and it's the christmas holiday season. enough air space for drones plus planes? reporter: there's been no concern from any officials regarding air space over la guardia and reports that some drone sightings and reported drone sightings in the facility and i don't believe they're concerned about it regarding safety of possible collision with planes and going for them specifically and have to keep digging for you, larry. larry: terrific stuff and going for them. we appreciate the report going for them. larry: we bring in brett and claudia tenney. brett is the special army officers and he's the drone expert and he's also a fox news
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contributor and, brett, at the risk of enraging claude i can't recollects i'll begin with you and you can bet she'll be back. what's going on here? what is happening here? >> our military used to dominate the drone air space, but all this technology now is more accessible than ever and let china lap us because of archaic laws in the u.s. that damaged our domestic drone industry. they're winning the drone race and we need to invest more in the technology and the reason we're having these issues and so many don't know what's going on is because we haven't made the proper investment in our country drone technology and drone technology space that's needed right now. the pentagon.
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they're saying maybe it was manned aircraft and that info is not difficult to track ask it's public. but the biggest issue here is our government doesn't know what they're doing. if that's the one fact we can verify and we no longer have control over our ace space and lack of adequate response of drone sightings is allowing a lot of misinformation to spread and everything in new jersey looks like a drone and it's down a level going for them and it's all saying many different thing that's causing this hysteria and to spread and a massive danger for what's going on over there. either way this, is a wakeup call to show we have gap in our defenses, and we don't have the fist indicated technology that's out there to help ease the public concerns. larry: well, you know, claudia tenney, i mean, there's a drone in a movie coming near you, and
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nobody knows what the hell it is. friend or foe, i mean, if i listen to what brett just said, okay, we know he's the military expert on this. best in the business. how do we know they're not chinese drones? how do i know that? i remember, you remember, claudia, we talked about this last year, whenever it was. does chinese spy sate satellitem alaska into montana and dakotas. they're not really intelligence problems. whoops, said that till they shot them down on off the coast of south carolina and turns out they were spying and how do we know now and how is it possible we don't know anything? >> i have to agree with brett. we had the chinese spy balloon but the hypersonic missile before that that circled the earth and our military didn't know till the chinese put out a press release. we're far behind and that was one of the reasons that president trump actually created the space force was to invest this this type of next world technology and the things that we need to keep up with adveradversaries and it's in sp.
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the space force just celebrated its fifth anniversary by the way. i know that trump will continue to do this. i have the air force research lab in my backyard. these people would love to see more investment and technology, but it's inexcusable that our .g doesn't know what these drones r. i don't know how any public official that don't know what's going on can get up and say these are no problem. how do they know? were they in a classified study? i think americans are legitimately concerned and the fact we don't know what's flying around in space. larry: claudia, they're coming up your way. coming to sire cues and colgate -- s syracuse and colgae and you happen state new york. you got a nice shotgun or do something to protect yourself. remember, i remember the chinese spy thing last year, i know -- listen, my wife is from president. we were married in montana. those montana cattle ranchers are willing to shoot the thing downright there. no problem. i mean, are we going to have the same thing now?
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will we have a movie and war against drones? >> if you're wife's out there oturu the dutton ranch shooting everything doyne. it's a real problem. but beat really identified this as -- retrocochlear really identified this and my son is still a major in the marine corp. and he's identified all kinds of weaknesses and we just passed ndaa and we're talking about really becoming streamlined and more efficient and better and more lethal getting dei out of ndaa and getting dei out of our military, and really focusing on the real future technology that our adversaries, again, are investing in that we're not. so, you know, that's the future and i really -- i don't know. i think it's inexcusable that any public official would allow this to happen and if president trump were in office right now, i think he would get it now and not wait till january to the and this would not be, going to be an issue about this and getting down to business and going on and americans up in the air day
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in and day out. larry: i see the cover of this story and going for this to cover the story going to destroy and going for the hottest. the great bret baier on the 20ts out there and said to me it's the hottest story and bret baier saying that's the hottest one and going off well. he know as lot more than i do on many things, but i'm saying and asking you, brett, all right, we have fallen behind in technology and very discouraging. i hear you on that. in your professional judgment, who, what, where. what are these drone s? what are they? are they a problem? are they going to knock ends of the next air flight from new york to miami so somebody doesn't have to pay any income taxes anymore? should we be worried about china? should we be worried about iran?
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what are they? >> all of the countries have ability to send drones thousands of miles away to the air space pretty easily because of technology that's been developed over the next few areas and i'm realizing more and more with the situation that our own law enforcement doesn't know the rules of engagement for monitoring and downing road drones over the u.s.. that's a larger problem. if a drone was flying with a bomb over the top of the cities, there's really not much anyone can do with the way the current law stands. everybody is point-blank layupsing fingers of that person is in charge and that person has the authority to do it. no one know what is they're supposed to be doing because faa frankly has ham strung a lot of agencies from understands how they can even down this technology and the larger issue is that these drones don't need to be up in the air for more than a few minutes to cause massive damage and a lot about
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polar drone technology and if they're collecting on us, it's not just a how powered camera staring into a certain area. that's nothing. put all kinds of special sensors and payloads to collect data and cell phone figgals and ip addresses and different frequencies and pull nuclear radiation data and be over the sensitive sites for a few seconded and damage is already done. we need to overhaul the national security structure to defend and it's not ready for the notary public traditional threats. we're not set touch do it and technology exists to stop this and we don't have at a widespread level. we vascularized systems out there that can -- we have systems that can spoof a drone and take over controls and systems that can send one drone into another drone and make it explode. we can fry drones in the air and jam them. all this stuff exists but not at a widespread level across the u.s. and everyone is on the same page of what they can use and what the proper authorities are. and we've got to get, we've got to get the folks out there to
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create laws and make it easier for us to stop this. not just telling the fbi, hey, you're in charge of the investigation when we're finding out the fbi's entire budget for counter drone is only 500,000 and testified that's their entire budget for counter drone technology. we've got to expand across the board. larry: claudia, giving you the last word on this with great trepidation because here we are. it's not that i don't believe everything brett is telling me. i don't understand it and how long can this story continue and nothing gets done about it? claudia tenney. do we send a drone up and shoot it down? do we get cattle ranchers from montana? do we get more sophisticated systems? seriously, folks are asking that every place in the city.
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we haven't had a drone in new york city yet and have a want 20 be drone and not a real one. they're coming like they're coming up into the finger lakes in new york and where you hang out. somebody has to do something and can't go day in and day out and port nate foy is freezing himself to death covering in story looking for drones every day and has no answers. >> yeah, we're investing in dei and technologies not making our lethal greater and doing in counter terrorism and that's going on across the world and i'm sitting here with the expert on drones that's been engaged in combat and i'm using drones in a combat setting. we have to be ready as a nation and we obviously, i'm kind of incredulous that only $500 has been allotted to the fbi and i don't know what the other agencies have. there's a lot of bills to talk about drone technology and
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invest in them. i've been working on them since my very first term in congress. we've highlighted this a lot. you know, what ends up getting in the bills and what ends up getting. this actually is a good thing. everything will be fine not knows hawkeyes going on. that's the concern. larry: not surprised with the 500,000 with the fb and i recollects invading mar-a-lago and thank you. claudia tenney and brett velicovich. thank you very much.
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we'll get back to something close tore our mandate. up next, trump zeitgeist seems to have taken over the country. make sure that we don't lose it. going to ask steve forbes and kellyanne conway and they'll both be here onset when kudlow returns. i'm still looking for drones. called me "ma'am ." it really is a top-of-the-line filter, ma'am.." and of course, we'll downgrade our insurance -to get a lower rate. -well, you know, you don't have to make sacrifices now that you're saving money with the progressive home and auto bundle. you couldn't have said that like 6 seconds ago? so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning.
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plumbers and welders to pay for doctors and students and loans and people say it's not fair. they all came his way and for kamala harris to only win women by 8 measly points is adieus aster for the democratic party. joe biden won by 13, hillary clinton by 13, on and on and on. social security incredible with the positivity and people feel lighter and brighter with the polling and how confident you feel he'll be president again and how confident he'll do what
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he wants in the economy and boarder and foreign engagements with energy and all of it down the line. last point, i love the moms and dads and moms and p pops and unbelievable optimism that serve u.s. chamber of commerce and all the data serves the same thing. nay have high revenue i think trump has captured the zeitgeist and i don't know, in some ways he himself is part of the zeitgeist. now the question is, can it be sustained? >> i think the answer is yes. that's one reason why they
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should move on a big fat tax cut right away so people see right away there's conditions getting better instead of waiting later in the year and all that kind overusing. this is where the republicans and people in congress don't get it. you've got to go big when you have the chance to get a big fat tax cut. larry: don't wait. >> don't wait. larry: that's genius in the transition and in the senate. i kind of know about the senate. i don't feel like picking on anybody but saying you're right. don't wait. bigger the better and trump can have fun. if your tactions don't group, that's a tax cut.
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hello? larry: the experts are always wrong as jd vance said. tell the team and leereds i want a big tax point. saying here it is. larry: culturally and time magazine going over slight bit and time magazine interview and they asked trump about turning points of the campaign and said the assassination attempt he said, he said the whole country has turned more religious and said family members, his own family member members have turned more religious and he himself believe but the zeitgeist is economics and it's tax cuts and it's growth and
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culture and religion. draw a line and going from the -- connecting dots, kellyanne, from the cal smith dinner to going to france and standing up. >> and sending himself and his team to they don't say thoughts and prayers. they saw you got my thoughts as if. how do we spend time outside of politics and believe and spend our money. lauren: it's okay for normal working people.
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>> the whole culture f shame being dismantled and don't have to apologize for being out of this and looking over your shoulder like the soviet union. larry: we have christmas and midnight mass and you're going to go on. look, he will lose the stock, sorry to depart from god for one second. lose the stock market bounce he had if those are delayed. >> he's send ago message that bad vives are coming out. >> >> the separation of church and state was meant to protect the church from the state. larry: in you pray on sunday, portfolio does better on monday. god, that's awful. steve forbes and kellyanne conway, two of the best of the best. catch them on here's the deal on fox nation, thank you, kids. coming up on kudlow, big tech
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ceo scrambling and joining the trump team. we have jason and charlie gasparino going to weigh in. it's the end of dei, isn't it they're running to the hills as fast as their little leg cans carry them. thank you, right on schedule.y you'reli great. asking smart questions about opportunities like clean water. and what promising new treatment advances can make a new tomorrow possible. better questions. better outcomes. ♪ i have type 2 diabetes, but i manage it well. ♪ ♪ it's a little pill with a big story to tell. ♪ ♪ i take once-daily jardiance... ♪ ♪ ...at eacday's start. ♪ ♪ as time went on, it was easy to see. ♪
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of all the listed companies, at least one director has to be a woman. another a racial minority and identified as lgbtq protecting investors and the economy and fraudulent practices. mid 19 30s. okay. joseph kennedy, sec chair beginning of it. the fox was guarding the chicken coop. how in the world does it -- that get to the nasdaq and sec in 20 -- >> just unpack a bit. all the boards have to be racially gender diverse. does it on warmed research and arguing that -- what wered
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reservice connected and arguing -- warped reservice connected and two people on the color of board and stocking up and sec is the regulator of nasdaq so you know, they approve it and say under the 33 act, which is the 33 act that ca carries. only have to disclose stuff. involving shareholders. it was challenged to protect investors. larry: not to dei every single company in the nasdaq. >> and it's stupid because it doesn't apply to chinese companies. >> the fed focusing on clean energy and social justice. >> esg. esg. >> esg and social justice when it's monitoring. >> dei at the fed, it's insane. >> of course there's no
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diversity of the fed. >> of course 90% of political donations. larry: the doge brothers, they don't dance as good as blues brothers but they're pretty good. this is vivek and the doge brothers will blow this up. >> i hope so. larry: blow it up across the government and corporate sector. this is not a fluke. >> government is not there to perform social engineering and there to create laws and rule sos private citizens going among their lives without the long arm of government telling them what to do. >> i think it goes beyond the doge brothers. remember, with gary gensler saying the sec chair and does it on everything, climate does closures and making up stuff and my mandate under the 33 and 34 access and investors care about dei and i want dei at nasdaq. what's going to happen is paul
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atkinses runs the sec under trump. people throughout ministrative agencies have to go by what congressman dated those to do. >> if you can't you don't need them and knocking the staff out or make them come to work and how about that? ving money too. knocking theout all together. the stock market gives up the ge gauges of the trump zeitgeist. i worry. >> it's my worry too because there's very little doubt in my mind and massive runup in stock prices as you've seen was laely driven by the tax cut and jobs act of 2017. so ithere's any questionhat those are going to go away, it stands to reason that
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administration coming in and never have as ch power in the first six months to a year and this is the time 20 do it. fellas, i have to go. on stage. i'm sorry. spending too much time on drones. can't help it. stop score. larry: now i'm joined by alex mar low, editor in chief at the news channel. trump made hay with young people. made hay with young people, why? >> the biggest thing and pinpointed this and one of the biggest story was this election and very few are talking about is he's mountained podcasting strategy and seems obvious in
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retrospect and truly revolutionary what he did at end of campaign was hitting these huge shows that were apolitical and a lot more comedians and speak to people that were get 8 voter who is their whole impression of donald trump, larra i was that he was this bad orange man guilterred through the establishment media. jew one of the most unbelievable culture shifts of our time and only going go tote getter for us. larry: alex, that's one reason, one key reason why trump did so well with young people, including young men but i think he did okay with young women too and that's one of the biggest upsets of the election. >> absolutely. i think the left overrated the
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abortion issue and the reality that trump affects abortion on that much and the fact that's all they have and not everyone is obsessed with terminating their children in the whom and other things -- woman and open boarder and economy going with that and a trans nonsense and young people picked on by the woke movement and all that speaks to the democrats going to be rational with the slate of issues and no one likes kamala harris and not forget that. she's very unlikable person. larry: alex, last one, you were talking about the border. can you believe, this is the lowest of the low, the pettiest of the petty, biden administration is telling the border authorities thomas mancino auction off -- to auction off unused equipment for what i know parts of the wall that donald trump is trying to build. they're auctioning it off in their last days in office. this is a new low in political lowness, alex marlow. >> i think it is and it's really stupid.
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dan patrick, lieutenant governor of texas on the laura ingram show said he's going to buy it all on the cheap and give to trump. that's the plan. the republicans wanted biden to sell this stuff years ago and biden wouldn't do it. let texas build the wall then, fine. larry: terrific stuff. alex marlow, if you figure out the drone story, let me know. text me directly. i want to hear the story. alex marlow, editor in chief at breitbart. folks, coming up, see whether or not president elect trump should invite, ready for this, video myrrh putin and -- vladamir svladamirputin and vladamir zel- volodymyr zelensky to the inaugution. i'm kudlow, we'll be right back.
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maybe come up with wow. ceasefire peace deal. here's the thing, keith kellogg, general kellogg said that that would be a brilliant idea and said trump thinks out of the box and could happen. what do you make of that, bill hagerty? >> well, another brilliant idea, larry. i agree with you. president trump is, as you and i both know, loves to speak from a position of strengths. there's never a greater position of strengths for america than inauguration that'll be taking place in our nation's toll and will be beautiful -- capitol and it'll be beautiful and a magnificent ceremony and see ping going -- xi jinping is the president of china invited for putin and zelensky, that's a great idea. stuart: xi is not coming apparently according to to some of the reports. but, you know, your point here -- >> i think the invitation is -- was a good idea though. larry: it was a good idea. to your point, the washington dc point, senator, i like -- see,
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they should -- we should be negotiating this right in washington dc, which is the capitol city of the united states of america, the number one country in the world. particularly under this new president. not overseas, not in poland, not in nato, not in the eu. right here in washington. bring them to us and let our president be the negotiator. >> i love the idea, larry. larr: she's not coming and at least issuing and going to invitation for see why should other foreign luminaries come, led of state for example. you know, latin american countries for example. i mean, in a sense that
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inauguration is a message to the people of this country; right? but as you noted, it's a message to the rest of the world. >> it absolutely is and i think what the rest of the world wants to see is america is back in a position of strength. you and i both know the world needs a strong america and president trump has been reelected to deliver just that and i'm looking forward to working with him in the senate to make sure we deliver everything we can to make america's economy strong again and border strong and national security what it is and should be and to get on capital markets back into a position where we have the strongest, deepest, and most effective capital markets in the world. larry: it'll be terrific stuff. i mean, inaugurations are very important. they really -- this could be a lincoln-esk speech and could do the country and world a lot of good. appreciate t bill. folks, be right back with my last word.
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