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tv   Varney Company  FOX Business  February 7, 2025 10:00am-11:00am EST

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stuart: i like the voice, johnny cash has a terrific voice, he really does, deep and resonant. there is sixth avenue new york city, a little milder today with snow coming this weekend, let's get to the money, dow 20 points lower, nasdaq down 58. where's the yield on the 10 year treasury, it has been moving up. it is up today right at almost, almost right at 4. 5%. the price of oil 70, $71 a barrel and bitcoin below $100,000 a coin but only just below, looking at 99-9 last time we checked it. it is at 99-numfour right now. just in the latest read on consumer sentiment, this could move the market, what's the number?
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lauren: 67. 8, this is a preliminary number for failure, the expectation is 71. this is why are when you're inflation expectation, people are thinking tariffs coming spiked to 4. 3% from 3. 3%. stuart: no impact on the market that i can see. lauren: dow had been a beatty, and out is up 70. stuart: okay, all right. okay. thank you. now this. don't be surprised by the democrats ferocious almost hysterical response to elon musk, he's hammering the bloated and wildly inefficient federal government. the bureaucracy is on the chopping block, the bureaucracy is dominated by democrats, it supports their causes, the way they influence governments even when the democrats are not in power. with headlines like this, washington is in angry turmoil, trump administration to layoff
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nearly all usait agency staff, 10,000 staffers, only 294 will be retained. washington post, nearly 170 environmental justice workers put on leave in latest trump shakeup. elon musk is plowing through government departments to a degree never seen before, no corner of dc is left untouched, that's why the left is screaming constitutional crisis, musk has to be fired, take to the streets to fight. so far voters don't seem to care, trump sits at his heisler approval level ever, demonstrators industries number in the hundreds, not thousands. what do the democrats do to stop doge brinkman on the lawyers and go to court. thursday two judges put a temporary hold on musk's efforts, federal judge george o'toole pours the buyout offer, federal judge limited musk's access to the treasury department. the issue is whether doge and powered money congress has
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appropriated and whether musk can got agencies established by congress. democrats will search for democrat friendly court and they will find them and there will be appeals and there may be deal a but my guess is constitutional questions will be fast tracked to the conservative supreme court. democrats see their influence crumbling. second hour of varney just getting started. the gentleman on the other side of the set, democrats are saying this is a constitutional crisis. lauren: unconstitutional to look at budgets, to ask questions about what we spend our money on? i'm not a lawyer, not a constitutional lawyer but elon
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musk is just digging in. i don't think there's anything in the constitution about that. he went to a limited a department you need congress to do it, fine, okay, but you want to change to a sitting in what seats and what they are spending money on i think that is fine but it is the real oligarchy in dc that hates that, the lobbyists, the lawyers, the bureaucrats, that is the real permanent oligarchy that pulls the strings and they can't stand it because they are losing their permanent power. stuart: they are losing out. brian: they will throw everything they can at the courts but elon musk is going right over it to the american people using x, telling the story. stuart: next case, nancy pelosi was confronted about her role in joe biden's decision to drop out of the presidential race. >> the former first lady, joe biden has spoken out saying she
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was disappointed in you. is there any way to patch that up? >> i think it would have been important for the children to not have donald trump be president of the united states. now we have to deal with it. in 6 or 7 months, you will see such a change by the time we strike campaigns. you will see a different picture. stuart: the last point was interesting, what you expect? brian: democrats have the right ideas, messaging, is it important for the children to not have donald trump in office. we don't want children to be empowered and have their families make decisions for them.
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life altering surgeries down the road. i think donald trump is pretty good for the children. and are happy about what he did. i don't think it will look that different in 7 months. stuart: pelosi is fading. check the markets please. i will talk amazon, down today, that stock is lower after the latest earnings report, summarize for what went wrong. >> bottom line, revenues were lower than expected but congress was up 7%. ads not as high as people
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wanted, worried about $100 billion amazon is spending to support ai, that is what everyone is worried about at a lower forecast. stuart: in the big tech community is there a feeling maybe too much is being spent on ai? we are talking hundreds of billions of dollars at this point. >> if you ask the leaders of these countries they don't believe they are spending too much. it is a winner takes all market and they are in it to win meaning they have to have the capacity. amazon's case they know they will oversell the capacity. they are overselling, same with google, that is driving the investment phase. we will see ai on the edges whether it is in ai pc from dell or hp or if it is coming from apple. these things will happen but it
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is a race for the big general ai, driving the demand. stuart: tell me which stocks, i am talking big tech stocks, which big tech stocks are most at risk if we got in a serious trade war with china? >> everybody except google and meta because they don't have the exposure. apple has exposure, tesla especially with the plant sitting in their and microsoft in china. nvidia with the chip side and almost everybody and meta they do not have exposure. stuart: you have a great weekend, see you again later. you are watching the ev companies. lauren: the department of transportation is suspending federal funding to states for their ev chargers, systems along the interstate highways. states can still be reimbursed
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for existing commitments, the future ones at stake. lucid is down one. 4%. stuart: they didn't build any. that is the problem. lauren: especially with this winter we are having if you haven't ev, good luck. stuart: nike is a dow stock. lauren: they are going to the sidelines taking the price target down $30 to 72. a new ceo came in in october, elliott hill has a great turnaround strategy, says city but it will take longer to take effect. stuart: take two interactive. lauren: 13.5%, grand theft auto 6 is coming this fall. that's a shot in the arm grappling with weaker spending in general. stuart: i did not know if that.
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still ahead, it is democrats versus doge. >> fire elon musk. an unelected, unaccountable billionaire now has seemingly unlimited powers on america's private data and americans taxpayer dollars. stuart: can't we all agree with $36 trillion in the national debt column that cutting wasteful spending is a good thing? apparently we can't agree. more on that later. republicans saying they are nearing a deal on the trump tax cuts. we will see what is left to hammer out as senators head to mar-a-lago. donald trump with a high-stakes call from the president of panama, up next we will hear from texas senator ted cruz on how trump plans to end china's influence on the canal.
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get netflix, apple tv+, and peacock for just $15 a month. and learn how xfinity rewards members can get a food delivery gift card when they add streamsaver. bring on the good stuff. stuart: outside the education department in dc, confrontation, progressive democrats led by maxine waters, they gathered for a press conference this morning, held the press conference and they want into the education department but the doors are locked. they are trying to get inside. this is the progressives representing i think the teachers union more than anything else, they want to get into the education department to stop what trump is doing with education. >> education the billionaires
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have for their children, by giving money to this kind of person here and the people who work here including all of the people in this country and those title i families who need some help. in urban and rural areas and mothers who can't afford the childcare they need for their children while taking these jobs making minimum wage and title i and this man -- stuart: this is a confrontation that is not going away anytime soon, the doors are locked, they want inside. i will keep you informed as to what happens. this is all part of the anti-elon musk movement which is getting some steam in washington at the moment. today, donald trump is going to speak to the president of panama over the feud over the panama canal. what kind of deal is donald
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trump looking to make? >> reporter: we asked marco rubio that question hours after he had been in panama, rubio said the united states is trying to rid the canal zone of chinese influence and control, panama denies there is any. a hong kong conglomerate controls a port at each end of the canal. panama announced it would exit china's built road initiative, rubio says it is not enough. >> of frank conversation, they announced they would get out of the baltimore initiative, we would like to see more. there's a lot of options and i won't preclude options but a prerequisite baseline, we can't continue to have them emphasizing effective control of the canal ira year. >> reporter: us government vessels can transit the panama canal without charge fees saving millions of dollars a year.
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then panama's president denied that and said they were spreading lies and falsehoods, he and donald trump are scheduled to speak at 3:thirty. if transit is part of the canal zone deal with panama it would reportedly save the navy $13 million for 40 annual crossings helping to offset the $2.5 billion cost. stuart: texas senator ted cruz joins me now. deal et cetera confrontation between the president and the leader of panama? it looks like a confrontation. >> i suspect they will have a frank and a direct conversation. it's not just a game of 2 people pushing in the schoolyard. there's a treaty that governs the panama canal. america built the panama canal, taxpayers paid for the panama canal. americans died in the long and arduous process building that
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canal and jimmy carter in one of the most shameful acts undermining our nation we have ever seen gave it away. in a crib important strategic asset he just gave it to panama. when he did so he signed a treaty, the neutrality treaty, which requires that panama number one keep the canal neutral, not give control, and fair and reasonable rates. panama is violating the treaty, it handed china dominant control of the canal. that gives operational control of the canal and building a bridge directly across the canal through which it has the capacity to shut down traffic anytime it wants, that's a violation of the treaty, the supposedly fair and reasonable rates they are supposed to charge, panama makes roughly $3 billion a year charging rates
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74% of those from american ships, military ships or commercial ships and i believe the united states has a strong case that panama is in breach of that treaty. i charity hearing a week ago in which we heard testimony that set under the terms of that treaty, each country independently determines, the legal authority to determine panama is in breach of the treaty. stuart: donald trump holds a private dinner at mar-a-lago, you're going to be there. are they trying to get full unified support for one big beautiful bill and the extension of his tax cuts? is that what this is all about? >> there's not going to be any head banging going on, we spent a lot of time with donald trump. i'm donald trump's strongest
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ally in the u.s. senate. it is going to be a relaxed and fun evening with the president. we share the same fundamental goals. in november the american people spoke unequivocally. we have a mandate from the voters, a mandate to secure the border, to secure the border now. a mandate number 2, to unleash american energy, bring down prices for consumers who are hurting, mandate number 3, to end the out-of-control spending and debt that bankrupting our kids and grandkids, mandate number 4, to unleash small businesses and unleash job creation and a mandate number 5 to rebuild our military and get out of foreign wards that president biden's weakness got us mired into. we are making progress on all of those but senate republicans are standing side-by-side with donald trump. we have got to deliver on these promises, the stakes are too high and failure is something not an option. stuart: i'm sure you've seen this.
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the department of education in washington dc, a group of progressive democrats want to get into the education department. the atmosphere in dc has been truly roiled by elon musk. it is in turmoil, isn't it? >> i'm said to say we've discovered a new disease in washington dc, sometime we've known the disease of trump derangement syndrome, it has terrible symptoms, it starts by wearing a pink knit hat and gets worse and worse from there. the new disease is elon derangement syndrome and it's a kissing cousin of trump derangement syndrome but my democrat colleagues and a lot of your colleagues in the media who are cheerleaders, have lost their mind and lost her mind why? because elon has come into government for free, he's not taking any money, to cut government spending and deliver on promises made to the voters and the democrats, he is threatening their sacred cows, look at usaid which elon has
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stopped wasteful spending, usaid spent $2 million of your money and my money on a sex changes in guatemala. usaid spent hundreds of millions flooding money into gaza that went directly to hamas and directly to terrorism and donald trump and elon musk working for donald trump are saying enough is enough and sadly the democrats are making clear that they care more about the radical agenda than the men and women at home and one quick thing, i listen to maxine waters talking about single moms and their kids come she didn't care about those kids when democrats showed school down all over the country and we have the greatest learning loss in american history because democrats all african-american and hispanic kids because of covid you can't go to school for a year. the democrats of lost any moral legitimacy to talk on this
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topic because their policies have heard so many millions of americans. stuart: please don't lump me in with the media. >> fully agree. stuart: more varney after this. (sneeze) (hooves approaching) not again. your cold is coming! your cold is coming! thanks...revere. we really need to keep zicam in the house.
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stuart: the confrontation continues. you are looking at the department of education, a group of progressive democrats trying to get inside, the doors are locked from the administration doesn't want them it inside. those on outside, the progressive's don't like what trump and musk are doing to the department of education. it is a standoff, a confrontation and it continues. we will keep you informed on what is happening. kristi noem will go to the detention processing center at guantánamo bay and take a tour and hold the briefing. earlier today, she posted on x a second flight, all are known gang members from venezuela, the heinous crimes and confessed homicide, robbery, dangerous drugs, assault, fraud, thank you for making america safe again. border czar tom homan has a
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stern warning after criminal illegal migrants were tipped off about an ice raid this week. good morning, what is homan saying? ashley: in operation targeting those violent gang members in aurora, colorado leaked ahead of time and hundreds of federal officials began the raid going door-to-door to various apartment complexes, they were met largely with empty buildings. border czar tom homan telling fox news those responsible for the leak will be held accountable. >> we won't tolerate it anymore. when we show up at these sites this is a dangerous job for the men and women of ice and border patrol, to have this happen puts great risk. not only the officers but anything could happen when you take our eyes off the goal. i am addressing operational security. we've identified how this could happen.
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ashley: as ice officers conducted those raids activist line to the streets taunting them and the looking for those offenders, 30 people were arrested but only one of those was a venezuelan gang member. stuart: the department of justice is suing chicago and the state of illinois over there sanctuary city laws. on what grounds are they suing? >> reporter: on the constitution, the trumpet ministration is coming after sanctuary jurisdictions, one day after pam bondi took the oath of office a lawsuit had the books in federal court in the northern district of illinois and it blocks local and state laws like the illinois trust act and chicago's welcoming city ordinance, the suit claims local laws are designed to interfere with federal government's execution of immigration laws and therefore they violate the supremacy clause of the u.s.
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constitution. taking a step further the attorney general directed a pause on federal grants to the justice department. when chicago's ray lopez has chicago police are dependent on those federal grants and this puts the city in a bind, the attorney general says this is the result of chicago leadership. >> they are choosing illegal aliens over the safety and security of their own citizens and the men and women of law enforcement who are trying to protect those citizens. not only do we see the city of chicago but the state of illinois, the mayor, the governor, and let me be very clear if you don't comply with federal law you are going to be next. >> reporter: trump nemesis pritzker looks forward to seeing the trump administration in court, he directed state agencies not to hire anyone parton for participation in the january 6th riots, chicago city
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altman has drummed up a resolution reading anyone who wanted to overthrow the government should not be eligible to serve government. that resolution goes before city council february 19th. stuart: police officers in nassau county in new york city suburbs, they will assist federal agents with immigration enforcement. joining me now is nassau county executive bruce blakeman, what are police officers doing to help ice? >> reporter: isis asked the we will cross designate, to make sure we get all criminals off the streets who are here illegally and when i say that i mean not just that they are here illegally, we are not doing raids, we are not asking people for their immigration status, we are going after individuals who have committed crimes, who are here illegally, whether his burglary, stealing
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cars, shoplifting, whatever it is. if they are here illegally, our police officers work with ice to make sure they are apprehended, detained and deported. in addition, our sheriff's department is holding 50 cells in our jail to detain these criminals on a temporary basis until ice can permanently detain them or deport them. we are grateful that donald trump is now letting us the tools to keep communities safe. stuart: a different subject. the ncaa band transgender athletes from competing in women's sports. this is one day after trump signed his executive order. you signed off on a transgender ban, you were challenged by new
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york's attorney general, letitia james. you must feel vindicated. >> i feel great. donald trump is doing the right thing. he understands we have to protect the integrity of women's sports, create fair competition and we have to have privacy for these athletes and not have biological males in the locker rooms. it is common sense. we are gratified that trump is doing this. we did it a year ago. i was challenged by letitia james. we are the only guys who have been sued by letitia james. stuart: a question. on two things. what you are doing with migrants, deporting them, criminal migrants in nassau county, what you are doing with getting biological men out of women's sports, are those two things popular in nassau county? you got support?
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>> wildly popular. i was out to dinner last night, 7 or 8 people came to me and said thank you for protecting the integrity of girls sports. a lot of them had daughters who compete athletically. people on the street and in the minority communities, they want the criminals out. they thank us all the time. they want ice in, nassau county police department in their. we are doing the job and people appreciate it. donald trump lost nassau county by 70,000 vote in 2020. he won nassau county by 33,000 votes, that's 103,000 votes because people were fed up with biden/harris and wanted trump back. stuart: always a pleasure, thanks for being on the show. still ahead, joe rogan cheering on musk's business approach to government cuts. >> the same people who said we need radical change, we need
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radical change, we got corruption, we need radical change, here's your radical change. stuart: steve hilton coming up later, a lot more to say on that. it is finally super bowl weekend so we sent jeff flock into eagles territory, the oldest tavern in philadelphia, he will tell us how much beer the country drinks on big dig game night, right after this. known for pursuing your passions. no one wants to be known for cancer but a treatment can be. keytruda is known to treat cancer. fda-approved for 17 types of cancer, including certain early-stage
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the dow is down 80, nasdaq is down 105. we are two days from the super bowl, the chiefs play the eagles, jeff flock joined us from evil's territory, what are tickets going forth for the big game.
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>> you want to sit in a front row, that's 13 grand at stubhub and if you want to set up in heaven where it i would sit, 2500 but i would rather be in a place like this to watch the game, who needs to go to the game? you could go to the alehouse in philadelphia. i tell you. it is going to be big. >> this is our super bowl, the best celebration for the city. >> reporter: that is chris mullins. this has been around since abraham lincoln was elected. you covered that inauguration. two families have owned this bar over 160 years. >> mcgill it sounded for 98 years to 1958. two different last names, they had it for 35 years.
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it is a continuous operation. >> reporter: look at this number. this year, people on the super bowl will spend $18.6 billion on everything from merchandise to food to parties to new tvs to watch the game on, it is crazy and i know you care about money. what cost more, we talk about inflation. avocado's are up 11% since this time last year. bear and wine is up a little. what is lower, you can get some cheaper this year, potato chips are down 5% and salsa is down. how is business? >> business has been super for the super bowl and super throughout the year. last year is the best year we ever had. >> reporter: we a lot of chiefs fans here, right? who do you suspect will win the super bowl?
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>> since the eagles year all the way. >> reporter: you are doing a chant. what was that like? >> eag les eagles. >> reporter: a green beer to you, mister varney. stuart: cheers, jeff flock. see you again soon. let me move on. can you tell me a rough guess how many people will watch the super bowl on fox? lauren: last year was a record, one hundred 23 million. that with the chiefs/49ers. this year watching a game at a party at least 113 million, at a bar, 17 million and that crowd will be tired monday morning. four in tweet and say we will give up a work holiday to have super bowl monday off. look at the advertisements.
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spending north of $7 million, 30-seconds of commercial time. expert say super bowl ads are 20 times more effective than a typical tv ad because fans are willing to sit and engage with the brand. the super bowl ads are the game within the game. stuart: that's true. i like to watch those ads, the only time i like to watch ads is the super bowl. they are new and different. nfl legend and fox sports analyst tom brady joint fox and friends with a preview of the big game. what did brady have to say? stuart: he asked if he misses being out on the field competing in the super bowl. nothing left in the tank when he retired, still feels that way but he says he has plenty of challenges as a broadcaster studying not only the offense but the defense. >> i have been a lot of time
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studying a lot of film, reading the different packets and trying to be really prepared, you are prepared for one side of the ball. as a broadcaster you prepare for both offenses. there's a lot of things you have on your sheet that you want to get to. ashley: the best advice he can give to those players try to avoid the distractions. conserve your energy and be prepared when it matters most and he competed in ten super bowls. pretty impressive. stuart: not a bad record. thank you. one more time, you can watch super bowl lix on fox this sunday. bret baer will interview donald trump at 3 p.m. at 3:00 pm eastern sunday afternoon. still had this weekend you will
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see a tale of two cities. in washington the democrats will be stoking their hatred of elon musk. in new orleans, but crowd will love him, what a contrast. that is "my take" top of the hour. if we get into a trade war with china what are the chances prescription drugs will be in short supply. doctor siegel will get into that next. ♪ (auctioneer) let's start the bidding at 5 million dollars. thank you, sir. (man) these people of privilege... hoarding the financial advantages for far too long. (auctioneer) 7.5 at the back. (man) look at them — unaware that robinhood gold members now enjoy the vip treatment — a 3% ira match on retirement contributions. (auctioneer) 11 million sir. (man) once they discover their privileges are no longer exclusive...
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it brings people together in meaningful ways. stuart: the dow is down 122, as we approach low weekend, some red ink, democrats in washington state want to got a law that requires public schools to notify if their child is a victim of a crime. what's the problem with the law. >> elected democrats in washington state do not think parents are entitled took rick information about their kids. and including immediate notification if they were the
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victim of crime committed by -- democrats control all aspects in washington state and are working on a bill that strips parents of many rights, among them the right to be notified by the school district immediately if their child was a crime victim. democrats in the house want to dig of schools 48 hours even when the crime involves a sexual assault by a teacher or staffer. the move is shocking the men who spearheaded the parents bill of rights which had overwhelming public support. >> who would say if your child is raped at school that parents shouldn't know immediately, who would say that? >> reporter: this bill of rights which became law last week also requires that schools notify parents any time their child receives medical care including abortion, mental health care or counseling for gender dysphoria. democrats are removing all of those requirements and the replacement bills they are pushing now. they say that is consistent with laws passed long before the parents bill of rights and
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they claim it is what is best for schoolchildren. republican leaders say democrats are destroying the family unit and the government can do a better job raising kids than parents. stuart: thanks very much indeed. donald trump implemented 10% tariffs on chinese imports. trade groups say it could raise the cost of prescription drugs. will a trade war with china make it harder to get prescription drugs? >> in the short term it might. we need to put an eye on that and understand that 90% of our active pharmaceutical ingredients come from india or china and what is coming from india isn't always up to the quality we need but it is the same reason by the way that donald trump is putting the tariffs on because a lot of these ingredients go towards making fentanyl. we can't throw the baby out with the bathwater so we need a
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carveout for prescription drug pharmaceutical ingredients and generics because generics are on a narrow profit margin. while we make the production over here in the united states we need to deregulate, we need to get rid of what the inflation reduction act did which was pad the pockets of the middleman and incentives to produce the drugs here. we got to be made here. 60% decrease in the making of active pharmaceutical ingredients here over the past decade in the united states. that trend needs to be reversed immediately and i predict, you know donald trump, he is basically warning that fat has to happen and i think we will follow through and make that happen. we need to make the drugs here. stuart: the department of health and human services is investigating four medical schools over anti-semitic incidents during the 2024 commencement ceremonies. what do you make of this?
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>> this is becoming a terrible problem throughout our society. it is permeating our college campuses and of note, medical schools during graduation ceremonies and before. when i studied medicine, it wasn't about one group hating another. it is about understanding people are all the same, not knowing the history of the region. and i know for a fact jewish students, medical students and physicians and other professionals have been targeted and it is going to be reversed as soon as possible. there should be no tolerance for this on any college campus. stuart: we are with you on this. we reached out to harvard, brown, johns hopkins, columbia declined to comment. today is national where red day to raise awareness of heart
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disease. the number one killer in women, we are all wearing red today. >> it causes one in 10 deaths of women, cardiovascular disease kills more women than all forms of cancer combined. it can affect women of all ages, life stages like pregnancy and menopause can increase women's risk of developing cardiovascular disease. a lot of women don't know this is the number one killer. stuart: steve hilton reacts to governor newsom changing his tone on trump. kim straw salon trump speaking loudly with a big stick. the status of trump's tax plan. ken golden has a signed patrick mahomes rookie card. the 11:00 hour is next.
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businesses and communities come together on tiktok. they don't show up like they do on tiktok. and i had all these people rooting for me on tiktok. empowering over 7 million us businesses.
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there's no way i'd be able to support this building or any of my employees. > that went from maybe a few hundred people seeing my product to millions. they rely on tiktok to succeed. i don't think i could have gotten this far if i didn't have that kind of community. small businesses thrive on tiktok. (♪)
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