steve forbes joins us. let me just reverse this for a second, steve.ore taxes, and they get it in place before the november election. you get it in place by october. what happens to the economy? >> it's like taking a patient and putting him or her in the snow it'll make the economy sicker not better. look at what happened to britain boris johnson raised taxes, raised regulations, raised spending and the economy is sick , and the worst economy in europe. do the opposite, allow the economy to grow. that's how you get out of these problems but they are just bent on doing the opposite. stuart: you know you're quite right about boris johnson. he is more like bernie sanders, a profits tax on the oil companies, taxation of wealthy people, i mean, raising payroll tax. what on earth are you thinking you're doing there? that's not a conservative. i better move on before i put my foot in it. commerce secretary gina raimondo is downplaying fears of a recession roll that tape, please. >> i was just talking to a ceo of a big company, and asking him , as i always do,

ashley: steve forbes on fire this monday. appreciate it. no, thank you. we move on now this. a warning before you rip open a pack of skittles, a new lawsuit claims they are unfit for human consumption. we're going to tell you why. crime is spiraling out of control in los angeles, but the governor there says well he can't comment on the district attorney's job performance, roll tape. >> but is he doing a good job? >> i don't know enough about the job he's done. ashley: well, dodging that issue california guy larry elder will take that on, next. ♪ trelegy for copd. [coughing] ♪ birds flyin' high, you know how i feel. ♪ ♪ breeze driftin' on by... ♪ if you've been playing down your copd,... ♪ it's a new dawn, it's a new day,... ♪ ...it's time to make a stand. start a new day with trelegy. ♪...and i'm feelin' good. ♪ no once-daily copd medicine... has the power to treat copd in as many ways as trelegy. with three medicines in one inhaler, trelegy helps people breathe easier and improves lung function. it also helps prevent future

[laughs] >> steve: he is not wearing glasses so i don't know what he is looking at. >> harris: steve forbes, thank you for breaking it down. one day he will deliver so much great news about the economy we will just fall over. >> steve: bring me up for >> harris: 626 days, thank you. live a fox news alert, president of the united states is honoring four vietnam war veterans of the white house right now paredes awarding them the medal of honor for risking their lives with their injured comrades, among them is you receiving posthumously after making the ultimate sacrifice buried jennifer griffin to see your life for us at the pentagon to break it all down, jennifer. >> hi, harris, the medal of honor sam when he begins moments ago at the white house. the soldiers represents the best of what it means to be american. among those being honored today, special assists class dwight birdwell of oklahoma, proud citizen of the cherokee nation who led his unit through bloody ambush at the start of the tet offensive in 1968. after his own machine gun exploded from enemy fire, bird will refuse to evacuate,

unclear if content was from hunter's now infamous laptop joining the conversation all morning long steve forbesw key thing is, how are they going to these things going to unfold, the fear is a plea bargain with hunter, one underway in delaware will seal records we never find out what happens between him overseas governments like china, how much money went to the big guy. yeah, really not a good look, with the family business ryan when we have allegedly tens of millions of dollars having been taken in from biden family hunter biden unjell jimmy biden in have chinese officials to have hunter importants father the sitting president has to have defend this country from communist china and make people expect that he is compromised causes he is so soft on china. >> clearly, here just amazing that, with biggest adversary eastern europe as well we had the businesses in ukraine that are very, very questionable, but are we cynical here maybe he wanted a girlfriend experience says here for 30,000 he spent i don't know maybe we are bucking up the wrong tree, maybe. maria: uh what do you mean. >> sarcasm i

steve forbes, you're right. thank you very much indeed. >> thank you. deniers to uvalde police officers. i don't like the sound of that. lauren: this one got my attention. it is a strange parallel. i would say he is environmentalist, for him to powerful parallel. listen for yourself here. >> you know the climate denyiers are really in some ways similar to all of those almost 400 law enforcement officers in uvalde, texas, who were waiting outside an unlocked door while the children were being massacred. confronted with this global emergency, what we're doing with our inaction in failing to walk through the door and stop the killing is not typical of what we are capable of as human beings. we do have the solution. lauren: well then chuck todd asked him, why don't you then run a presidential campaign based on climate change? and he said he retired, recovering politician. so that is not going to happen. but there have been instances when other candidates tried that. it doesn't work t falls flat because you ask voters what do they really care about, that is

have forgotten that if they ever did learn it but to raise one other point the regulatory story steve forbesalls this modern socialism to the regulatory state the war against fossil fuels is a perfect example there is a war against businesses and price controls the green new deal the claimant activism regulations hurt a lot and the regulatory stay is one of the reasons the economy is contracting. in 2021 the last year we have data federal agencies finalize rules that entail 201. $5 billion of net regulatory cost making it the second costliest year on record in to put this into perspective president biden's 2021 regulatory cost are three times those added from obama's first year in nearly 40 times more than in president trumps first year. the economist estimate the federal regulations impose a total economic cost of $2 trillion per year net present value of regulatory cost it is like strangling enterprise so we should not be shocked between the inflation of the big spending in the regulatory strangling of the economy and the war against fossil fuels more generally against business and free-ma

current lady -- currently reading steve forbes on inflation. the emergence of arthur laffer. charles morris, the tycoons. in brian walters, the jazz age president. which of those would you like to bring up specifically? guest: i want to say two things. they are not necessarily my favorite books of all time, but it is what i either have read or am reading now. i want to say on john sanford, i love to read -- this, by the way, these are fictions. john sanford's book the investigator, he has written one million books. i love mystery, cops, cia, spies. sanford writes -- his favorite cop is davenport. i have read so many john sanford books, i believe i know lucas davenport very well and i have been invested in his family and this is a book about lucas davenport's daughter, about halfway through it. so i will let you know how that works. the other one is i wanted to say jamie lee burke who has written about my other favorite cop, david robichaux in southern louisiana. i do not have a copy. i have never met james lee burke, i have never met john sanfo

steve forbes, not long ago we were hearing from the c.e.o. of j.p.eaded our way. explain for us the field here, what's going on. >> well, nobody can foresee the future but i think jamie diamond and some others look at what's happening with loans, look at what's happening with the consumers, and conclude given what's happening with the economy in general that tough times are ahead, and whether economists can get an argument over what is a recession, tens of millions of americans know incomes are not keeping up with rising prices, even though there is a little bit of relief on the gas front, we do see home ownership of problems coming with the variable mortgages have to be reset, consumers paying more interest rates on their credit cards, smaller businesses will be under pressure, so the economy is in trouble and so i think jamie diamond is more right than citibank, i hope they are right but the economy is in trouble and get trouble i think with the economy from crisis arising overseas. >> jacqui: what is citibank looking at in making this assessment,

i enjoy steve forbes who is a very dear friend. longtime collaborator. his book on inflation is terrific. it is a must read because inflation is so very, very important. i wanted to say brett baird wrote a very good book about u.s. grants. i had brett on my tv and radio shows. excellent book about grant. as i said earlier it was one of my favorite presidents. branko made wrote a terrific book about abraham lincoln and frederick douglass. two opponents on slavery different styles, differentyl positions. a very, very important book pretty did a good job. i really am very keen on the books are brought with you. i wasn't sure the assignment was going to be paid the two books i'm really keen on, one is the book about the gilded age. which is a charlie morris book, or ever i putut that. that is the jazz age. .the tycoons -- that links to te jazz age by the jazz age book is about worn heart. but i want to group them altogether going to give an opinion here. left wing historians have destroyed these presidents. by the way the tried to destroy grants the c-span q

steve forbes, forbes media ceo, much, much more. steve, i'm so happy you're on with us today but we've seen a number of time in the past u.s. presidents, some of them volunteered their health, all open case, others hide a lot of details. it is very hard thee days to pull that off i grant but are you confident of the information we're getting out of the white house is accurate that they're not downplaying this, it is what it is? >> i think in this case i think we'll be pretty much on top of it. if the man was in severe condition we would see what happened when president trump got it, take him immediately to the hospital. they're not going to take any chances. the days are long past you think you can treat something in the white house as they tried to do with woodrow wilson when he had a stroke, catastrophic. franklin roosevelt, his illnesses, john kennedy various illnesses he had hidden from us. in this particular case i'm not worried about information. we have to see how bad the thing is, looks like it will not be that bad. neil: in

steve forbes, chairman and editor in chief of forbes media is on the mezzanine in "focus" today. what i notice from all of that, people are changing their habits. their livelihood and standard of living is starting to shed the grace we had with lower prices on everything. >> and the tell tale sign is what's happening on credit cards and the federal reserve continues to push up interest rates those cards will become more expensive and what really hasn't fully hit yet is mortgage payments will have to go up on adjustable mortgages. 10% what it was before the covid crisis. this is not because production is soaring for gas. the biden administration is doing everything it can to hurt oil and gas production in this country. still blocking permits and the like. so this is less demand. also the strong dollar overseas is hurting demand because other countries have to pay more for oil. so it is not for the right reasons, it is for the wrong reasons. >> harris: quickly, you hit on adjustable mortgages. hard to believe people are doing that so much. that's what got us in trouble last time. >

and i think it was steve forbes. think like jack kemp was there or someone answered the three of them are huddled on this couch in army's office, and we're kind of sitting across from him and a -- army's first statement as he said gentlemen. said there is not been as much brain power on that couch since i slept there alone. all right. here from -- army the great one of the greatest majority leaders in the history of the house of representatives -- army. thank you. thank you all. i just really want to make two points. the first is about the house of representatives. i came to know and understand that. this is the most unique institution in the cause of liberty and representative democracy in the history of the world. and i was so privileged. to be part of it. i learned to loveth the institution. i learned to love the people who loved the institution one of the people. whose president recurs in my book and one of the few people with whom i served whose approval i coveted. was senator bird from west virginia people thin

[applause] steve, let me start with you. the forbes bible of business, if you will and a lot of young entrepreneurs. i read it as a kid. i memorized the forbes 400 in 1908 when i was in high school. >> i you are a genius. charles: the answer ty is looking for. >> preamble, my grandfather said you make more money selling the advice than buying it so beware. at times like this in terms of investing you have to divide in two parts. one is retirement funds. you're a young man. keep invested, a reserve fund, a little bit of gold, a little bit of cash, keep it in the market. the country always comes back. don't get whipsawed by timing. on investments, look at ones people are talking about, you have time for real estate. not all real estate is good. there are bargains out there. u you have hard haas sets. buy a little bit of gold. it has been a hit recently i think it will go up next couple years. stocks that pay dividends but go up, not just dividend now but have a history of increasing dividends. even if the value of your money is going dow

decision, west virginia versus epa, which is really going to take out the regulatory extremism, steve forbesls it modern socialism through the regulatory state, that was a very important decision. if the congress really wants to legislate statutorily and wipe out fossil fuels in the next five to 10 years, then let them. but, but, but, but, because congress hasn't done that, is not likely to do that, then the biden policies that will have to have a big, big pullback. notice, what was it yesterday, the day before, when he gave that news conference, liz? elizabeth: yeah. >> he didn't have, he didn't use emergency powers. he didn't use the defense production act because he knows he doesn't have the authority. elizabeth: right. the other thing too, larry, it is china firing up the coal factories to make solar panels worldwide. that is what is happening. china will make a killing. china makes 3/4 of the world's solar panels, car batteries, dominates wind turbines. we'll see power dominated by china. the dirty secret is ruins the environment. strip mining for batteries, they leech into the groundwa

now steve forbes will be on in a little while has called it modern socialism through the regulatory state

steve forbes, retired fbi agent for landro, congresswoman, and the faulkner focus at the top of the hourlook away. the dow was down a moment ago more than 700 points for a percentage mark of well over 2%, which would indicate the dow 30 is down 19% on the year if i'm doing my math correct. anyway, it is not good news. there is a concern over a slowing economy, which is raising the possibility that we are headed for a recession. some people believe that we are already there. but nonetheless, -- it's not good. >> don't look today, maybe even tomorrow. >> georgia's democratic gubernatorial nominee say stacey abrams apparently taking contradictory stances on personal safety. her campaign is spent more than $450,000 in private security despite abrams being a board member of a group that supports defunding the police. the security company's website focuses on the threat assessment and protecting its clients and she might absolutely need that security. >> rather rich i would add. >> dana: but you want to talk about a great police officer, check this out. ♪ ♪ >> he's freezing, he's crying, beaut

currently reading or just read steve forbes on inflation.ryan demetra vick, the emergence of arthur laffer. charles morris tycoons and ryan walters, the jazz age president. which of those would you like to bring up specifically. >> i want to say two things. not necessarily my favorite books of all time but it's what i either have read or am reading now. i want to say john john sanford. i love to read. this by the way, these are fiction.on john sanford book the investigator. he has written 1 million wbooks about a great friend. i love mystery, tops, cia. sanford writes his favorite copies lucas davenport. and down through the years i've read so many john sanford books i believe that i know lucas davenport very well. i have been intimately involved with lucas davenport's family and this is a book about lucas davenportáletty davenport about halfway through so i t want you to know how that works. the other one is i want to say jamie lee brooks who is has written about my other favorite cop , a guy named david robichaux in the louisiana, southern

ryan payne and steve forbes. thank you have a great tuesday we will see you soon. dow industrial down 187. we will see you tomorrow. "varney & company" begins right now. stuart: good morning, everyone. the start of trading yesterday, everything is down the stocks, bitcoin, oil, interest-rate trade investors seem worried about inflation and the numbers that come out tomorrow will start with the doubt off 180 pointed the opening bell. s&p is going to be gone but the nasdaq showing a very small gain at this stage. bitcoin dropped below $20000 and still below 20 grand 1980 is your price. oil has dropped below $100 a barrel. there are new covid restrictions in china that lessons demand for oil so down goes the price $99 per barrel. gas down 2 cents for yesterday, $4.65 is average. diesel down to sense to $5.62. gold is close to a nine month low, 1731 announced. most importantly yield on the two yield treasury as above the yield on the two-year treasury that is considered a recession indicator. that is the market. tonight president biden leaves for the mid east trip he's

steve harvey. [cheering and au] got a good one for you today. returning for their second day from stillwater, oklahoma, home of the cowboys, it's the champs, it's the forbes family. [cheering and applause] and from bear, delaware, it's the roberts family. [cheering and applause] everybody's here trying to win theirself some cash, and somebody might have a shot at driving out of here in a brand-new car. [cheering and applause]