tv Varney Company FOX Business November 15, 2021 9:00am-12:00pm EST
maria: join us tomorrow, same time, same place. we've got a dow industrials rally, up 131 on the dow, and it is a big week for retail earnings. as you know, we're going to preview all of that right here on "mornings with maria." s&p up 15 and the nasdaq higher as well. "varney & co." begins right now. stu, take it away. stuart: all right, i shall. good morning to you, maria. good morning, everyone. here we go again. we start a new week with almost everything up. i have to believe that it's the wall of money, close to $7.5 trillion, that's pushing everything up. check your 401, you'll like what you see -- 401(k). the dow going up about 130 at the open. the s&p, will less than 1% below its all-time i high, up again this morning, and the nasdaq, another gain on the card today. dow, s&p, nasdaq, all up this monday morning. cryptos holding steady, just
slightly higher. bitcoin's looking at, what, $65,000. ethereum at $4,700. it's getting a lot of attention these days, $4,715 to be precise right now. treasury prices, yes, they are going up. that means the yield comes down. actually, it's gone up a little bit this morning, it's at 1.57% right now. that's the markets, mostly higher, on a monday morning. the biden administration deep in polling trouble. the president is deep underwater on his handling of the economy, only 39% approve. overall, approval is down to 4 1%, that's in the latest washington post poll. there'll be a big signing moanny at the white house -- ceremony of the infrastructure package. he's got more work to do this afternoon with his virtual meeting with china's xi jinping. his handlers are vigorously downgrading expectations from
that that meeting. covid news, lots of it. new cases are on the rise here, around 70,000 new cases a day last week, it's 80,000 today this week. more important probably, a federal appeals court has blocked biden's vaccination mandate for private companies. this may force a big retreat for the biden team. how about this one? in austria unvaccinated people are confined to their homes as of today. yeah, they can go out to buy essentials, work or exercise, but that's it. in the netherlands, police had to use water cannon to suppress a riot by protesters angry at the reimposition of covid restrictions. ten days to thanksgiving. you got your turkey yet? "varney & co." is about to begin. ♪ ♪ i can't get no satisfaction.
♪ 'cuz i try and i try and i try -- stuart: the rolling stones. oh, this takes me back to the 1960s. we were dancing up a storm to that one, but you weren't. [laughter] >> my mom was. stuart: the good old days. and your grandfather thought they were awful. i just know it. [laughter] i'm sorry. got to get serious right from the start here. president biden and china's president xi jinping, they're going to meet virtually tonight. what are they hoping to accomplish? >> not much. the bar is low. they're going the try to just ease the tensions and maybe agree to disagree. it's not expected that biden will challenge xi on heated issues, climate origins and cover-up of covid-19, the hypersonic missile test and, of course, taiwan. this is an editorial pushed by the commune party of china and the china global times.
the taiwan question is the ultimate red line of china warning the u.s. must take a step back and show its restraint. so, look, neither side wants to be too provocative the, but china has increasingly turned its economic success into military power, and it may be time to come up with a new strategy here because they're growing economically, militarily and combined. stuart: all right. the meeting is this afternoon, right. >> morning in beijing, tonight here -- stuart: my apologies. thanks very much. president biden's going to sign that trillion dollar infrastructure deal. lauren, what's this about -- i think it was gop republicans, they're republicans. they signed on to the deal, but they're not going to appear at the ceremony in. >> so back in august, that's when we first started talking about this. nineteen senate republicans, including senator mitch mcconnell, signed the infrastructure bill, the road and bridge bill, and then 13
house republicans signed off last week. the bill was held as the the progressives tried to tie it to build back better, and now the republicans who got onboard even back in august face intense criticism from their gop colleagues and their constituents. so biden today is holding a big, flashy signing ceremony, as he should. this is a major piece of expensive legislation. and it's supposed to be bipartisan, and many of the republicans aren't going to show up. so it's largely a democratic ceremony. stuart: i can understand it because of the criticism that they got, but it stands out, doesn't it? let's get to inflation. i want you the hear what treasury secretary yellen thinks will beat inflation. roll tape. >> the pandemic has been calling the shots for the economy and for inflation. i think it's important to realize that the cause of this inflation is the pandemic, and you would expect that if we're successful with the pandemic to
be sometime in the second half of next year, i would expect prices to go back to normal. stuart: fascinating. it's the pandemic that's done it, and when the pandemic ends, we'll be okay with inflation. jason katz, the gentleman in the bottom right-hand corner of the screen, what do you think of that? >> what i think is you can't drive through live looking through the rearview mirror. they have to shift on a moving-forward basis. policy has to pivot from fiscal monetary to how do we get back to work, how do we get back to travel, how do we get back to restaurants. and, frankly, we're now empowered to do so is. covid cases may be up, vaccination rates are up, hospitalization rates are down, so on and so forth. so this is something, frankly, we're going to have to live with, so let's accept that. let's figure out a way to get more workers back to energy plans and port workers back to docks. that's what i think about that
commentary. stuart: what about the federal reserve? it's their job to put a stop to inflation, but sooner or later they're going to have to act. you and i have been talking about this for a long time now. when they do act, when rates go up, when they stop printing so much money, isn't that the point when the bull market ends? >> well, look, if the fed doesn't step on the gas a little bit with respect to tapering, and i'm not suggesting they do it right away, they'll be the arson putting out the fire. so, yes, they have to control inflation. and, ultimately, stocks will take their direction from bonds. but we had the hottest cpi, for instance, 1982, and the market has absorbed that incredibly well. so the ultimate arbiter, people putting money where their mouth is, they're suggesting that we're not going to see inflation be as persistent. look, we had the highest profit margins in q3 that we've seen in five years, 13%. last quarter was the quarter that inflation was supposed to
kill earnings. it hasn't because a lot of these companies have pricing power, and a lot of people are flush with cash. when that cash runs out, the rubber will meet the road, and we're going to face some bumps in the road. stuart: but the cash will keep on flowing. we have some numbers here looking at what's already been allocated to beat covid and all the other social programs, and it come toss a grand total of around $7.5 trillion if they get build back better. that is an enormous amount of money. granted, it's spread out over a few years, but a lot of it will hit suddenly next year. surely that's the time when inflation keeps going and the fed has to act. where am i going wrong with this? >> no, i think that you're on point there. and with the leverage that they use, it's actually more liquidity than that. where i think -- i'm not suggesting you're going wrong -- is that you've seen inflation move up, i won't call it in concert, but in tandem along with inflation. so people have had a little bit
more pricing power to absorb this. look, we've pulled forward a lot of performance. we've pulled forward a lot of business. we don't pivot to services from manufacturing, inflation's going to be more than just a wage issue, more than just a housing issue. so the fed has to be on top of this. stuart: i'm still worried about my money, jason, but you're holding my hand very well at this moment, jason katz. you're doing a great job. thank you very much, jason. you're looking at the price of regular gasoline across the united states. it's still at $3.42 the, that's where it was last week. senate majority leader schumer, he says he's got a plan to lower gas prices. what is it? >> it is the a short-term fix. >> we need immediate relief at the gas pump, and the place to look is the strategic petroleum reserve. i am urging the administration to tap that reserve, get the prices down, and then we have to embark on a full-time campaign to get us away from carbon fuel ifs altogether. >> and there it is.
he held on, the long-term goal of pushing oil companies out of business, crushing oil production here in the u.s. which is the long-term solution and then begging opec for help. stuart: thank you, lauren. on your screens, shortly, today's cover of "the new york post." who's left? [laughter] all right. he's close to a new low in these polls. >> yeah, for this poll it is a new low. you saw the dark skies, the ominous clouds. a washington post/abc poll finds just 41% approve, 53% disapprove, 6% had no opinion of the job that biden has done in the past ten months. translation, he's unpopular with his own party, and he's not popular among independents. it's a nose dive as the economy buckles from surging inflation. and this is interesting, more than half of respondents zapped both the bipartisan
infrastructure bill and the social spending one, 59% are more concerned that the president will do too much to increase the role of government. what that means is you want cheap childcare? absolutely. but when it comes to how you get there, what you have to give up or pay in terms of tax increases to get there, maybe you don't want it. stuart: voters or are not stupid. that's a fact. check futures, please. we've got 20 minutes to go before we open the markets. nasdaq's doing okay, over 16,000. inflation is at a three-decade high as we keep on telling you. yet one msnbc anchor argues a dirty little secret about rising prices. roll it. >> and the dirty little secret here, willie, while nobody likes to pay more, on average we have the money to do so. stuart: oh, do we? okay. i'll give you three words, out of touch. okay? a fourth stimulus check, question mark. some democrats want government
handouts to keep flowing until covid ends. hillary vaughn has that story from capitol hill. ♪ ♪ dad, we got this. we got this. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire what's strong with me? what's strong with me? matching your job description. what's strong with me?
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♪ if you steal my sunshine. stuart: that looks nice, doesn't it? that is north carolina. sunny and bright, 52 degrees. a nice if fall day at the beach right there. futures indicate we're going higher this monday morning, dow's up about 100, nasdaq's up 60. democrats are pushing for a four, count 'em, four stimulus checks. hillary vaughn is with us.
hillary, what are the chances this actually happens? >> reporter: well, stuart, the president anticipated that he thinks these stimulus checks that he's been handing out are partially to blame for rising inflation because he said because of him people have a lot more expendable cash in their hands to spend. but that is not stopping democrats in congress from trying to pressure the president to include another stimulus are check and also enhancedded unemployment benefits. over 20 democratic lawmakers wrote a letter to the president in the spring telling him this: as you prepared your build back better plan for long-term recovery, know that we are ready to work with you many support of reoccurring direct checks and extended unemployment benefit insurance. over duration of the pandemic, there's been over $3200 in stimulus are payments paid out to eligible adults; $1200 in march 2020, another $600 last december and a $1400 check this
spring. some states are looking at taking their own action. in california governor gavin newsom is pushing a golden state stimulus where two-thirds of california residents that file taxes would apply for about a $600 stimulus check from him. but as the inflation issue rises to the top of biden's problem list, it's certainly having an impact on consumer sentiment. u.s. consumer sentiment plunged in early november to the lowest level in over a decade as households are seeing rising costs cut into their budget. it plunged to 66.8%. so, stuart, while the house is working through the total price tag still, we don't have the cb if o score for the build back better bill that they need to pass, when it comes to the senate, certainly there are some democrats who would like to see a still the plus check maybe included in that package. stuart: of course they want free money for everybody. they're buying votes, come on. [laughter] hillary, thanks very much.
stephen moore is with us. all right, let's get serious. just suppose, just suppose that they actually get this fourth round of stimulus checks. what do you think that would do for us? >> well, few very negative effects, stuart. one is you would see fewer people working. we've got a big, big problem as you and i have talked about for the last four, five, six months. you just can't get people to do the trucking jobs, the manufacturing jobs, the warehouse jobs, the kind of, you know, blue collar jobs that we so desperately need to be filled. but, look, the the other point is the big spin this weekend on the sunday talk shows, stuart, was the white house economists saying that somehow spending $3-4 trillion in this big debt bomb bill that's going to be paid for mostly by more debt and more money creation is going to make inflation better. that's the line of the white house. nobody believes that, stuart -- [inaudible conversations]
>> basic economics -- stuart: [inaudible] that was brian drees saying that. so you've got the treasury secretary saying we'll beat inflation when we beat covid, and the senior economic adviser at the white house saying pass build back better, and we'll fix flakes. that makes -- fix inflation. that makes no sense whatsoever. >> by the way, the public doesn't believe that. they're pushing a big boulder up a steep hill if they think they can convince americans that a massive debt bill is going to make inflation better. look, inflation is really simple, it's just too many dollars in the economy chasing too few goods. that's exactly what we have right now. in a sane world, we'd actually be cutting government spending. remember we had a trillion dollars in the hopper, in the pipeline before biden came into office because we had passed this covid relief bill. then he passed that $2 trillion spending bill, remember that
one, in march which was the money for all the states which are now swimming in cash. today he's going to sign the $11 $11 -- 1.1 trillion infrastructure bill. if you add that all up -- this is in the stratosphere. i never thought i would say the day when we'd have this kind of spending and borrowing -- stuart: well, it's unique. >> by the way, i am with senator manchin. he's got it right. we should put a pause on this until we get inflation under control. stuart: all right. we have never, ever seen anything like this before. stephen the, thanks for being with us, we appreciate it. now this, president biden's considering his choice for federal reserve chair. now, when is he going to make a decision on powell stays or leaves? >> "the wall street journal" says as soon as this week he will decide if jay powell gets another term or lael brainard comes in. they have very similar views on interest rates.
she's likely to keep rates lore for longer and force tougher regulation on the banks and show more concern toward climate change, but inflation is hammering the economy and with that, the biden presidency right now. the fed head may have to make the unpopular decision to tighten and perhaps sooner, and will that be powell or braynard? stuart: that's not what the president wants. he doesn't want to plunge the economy into a recession. he wants to keep on spending and printing. >> but now his administration is the face of what's happening, so he also has to make sure he has the solution. that might be higher rates. he backed himself into a corner, good way to put it. stuart: futures, you're looking for a had the of green -- a lot of green at the opening bell, and we will take you there next. ♪ ♪
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leaderboard -- morgan stanley has a new report, how do you respond to that? >> it's like a weather forecaster. there's clouds on the horizon. okay, so what? been there, done that. it's the inflationary problem and the president's policies that we have to get under control. there's going to be speed bumps, but so what? stuart: wait a minute, these are significant problems. the fed's reaction to inflation is a very, very significant problem. you're just going to slough all that off and say, oh, you think we're going to 5,376 on the s&p by the end of next year. that's a huge gain from here. >> that is a huge gain, and i don't say that carelessly, nor do i say it dismissively. those are outrageous problem, number one, that we don't have to have. but number two, if you believe in capitalism the way i do and you study history the way i do, capitalism favors growth, and your money wants to do that.
the trick is letting it alone, removing the impediments. i think best ceos are going to get through this regardless of what happens in the white house. but i am absolutely concerned and right, as you point out, because they are monumental problems. stuart: are you discounting this, we keep calling it the wall of money. we calculated about $7.5 trillion just flooding into the economy and the markets. are you discounting that or are you saying that's why we're going to 5300 on the s&p? >> that is actually why we're going. and for reasons not a lot of people expect. the president is going to favor growth over stability. he's made it very clear, he wants to shut down oil, he slammed the door on new leases, he's given opec and russia the chance to keep prices high, yet all this money still continues to come in. the very basic economics 101 dictum is if you have more money
chasing goods, the price of everything goes up, the right companies are going to continue to produce profits through it all. stuart: all right. what would the market do if the president appoints lael brainard to be chair of the federal reserve? >> boy, that's a complete wildcard. i've got to say i'm totally speechless on that one. stuart: susan's with me, she's shaking her held. >> i think there'll be no market impact because they're pretty much the same -- stuart: really? no impact on the market? >> pushback from many gop members in that nomination, so i think everybody's pretty much onboard -- stuart: onboard with lael brainard? >> yes. stuart: really? you've got 20 seconds to respond to that, keith. >> she's bright as can get, i'm not going to take her on. i'm going to lead her way and say, okay. my take is that it is potentially if there's tight money on the horizon a
serious -- stuart: i'm with you entirely, keith. i'm against susan on this one. >> okay. stuart: i want to start the week in the right possible way. >> fair enough. stuart: the opening bell is about to ring are. we are going to see some green on the big board when we finally start to trade, literally 7 or 8 seconds. here we go again. it's monday morning, almost everything or is up despite all the news in the background, we're up on a monday morning. check your 401(k) folks, you're going to like this. the dow is up 100 points, 36,200. the s&p on the upsite to the tune of almost a quarter percent, 4693, and the nasdaq is up .2%, 15,8 is the level. big tech, i presume, is doing well because the nasdaq's doing well. look at that. i'm right. microsoft up, apple up. alphabet down a tiny -- it's down 76 cents at $2,972 per
share. amazon, $3,500. meta at 343, how about that? we did have some earnings before the bell including oatly. that's the singing guy. >> yes. one of the cofounders. stuart: what happened? they're down 20%. >> i guess the euphoria wears off. sales were not great and oatly said they are facing challenges in the supply changer so they're blaming covid restrictions which they say might slow its scale-up. but i think it's the exponential marketing. stuart: it was a great commercial. could it be that people just don't want operate milk? >> i think there's probably saturation because i think one of their largest customers is starbucks. all of that was built into the price on the ipo. stuart: i think we agree on this. >> great.
stuart: titan, what have you got? >> a program they say will save about a billion dollars each year. it's about saving money, maybe not as much growth. stuart: you know what i really want to hear about -- >> yes, we all want to talk about this. stuart: elon musk's twitter spat with bernie sanders. >> whose side are you on? i can guess, to be honest. [laughter] musk tweeting back at bernie, asking first off, i didn't know you were still alive. [laughter] stuart: slam. bernie once again going after billionaires saying like musk, these billionaires should be paying their fair share when it comes to taxes. last week that that tally was $7 billion that miss had to unload -- musk had to unload. here's the naysayers, big short's michael bury tweeting that musk already borrowed, sold
all of his mansions, moved to texas and is asking bernie whether he should sell more stock, he doesn't need the cash. he just wants to sell tesla. i don't think that's true since musk hasn't sold any if stock since 2016, he has a stock package that expires many august of next year. you're going to give up $30 billion? and, oh, by the way, you're only paying $13 million for the stock options. think about the capital gains he has to pay. so, yes, he has to raise cash somehow. stuart: i'm absolutely with musk on this one. i'll never be on the socialist side, ever. [laughter] lucid, they're walking up to the opening -- >> just named motor trend car of the deal,. stuart: lucent. >> they might still be losing money later on today when those
numbers come out, but this is a growth stock, obviously, a very hot ev market. stuart: pollstar. don't hear much about it. >> i'm seeing a lot of commercials about it. this is a spac deal, so its partner spiking, up 14%. that's pretty good, right? they're an electric carmaker. stuart: all right. [laughter] >> you'll see them on the road pretty soon when they start ramping up, but they're giving an update on the sec plans, and that looks like it's going to check out next year. do you want to check on rivian? $120billion. stuart: this is the shakeout in the electric vehicle market, isn't it? >> i think it's the new growth math. how much is growth and future sales worth. i think there's probably been a rethink. stuart well, the infrastructure deal that's being signed today --
>> charging stations. stuart: exactly. >> i would say there'sal esg elements because a lot of fusion, hydrogen fusion cell makers are part of that mandate. stuart: you've got to do it. all right. dollar tree. i believe it's up this morning. an activist investor or is involved, i believe. >> yeah. have you heard of mantle ridge? they own close to, what, a $2 trillion stake in dollar tree, and they want changes. it's $148 to them, if mantle bridge gets their way, what they're pushing for, is they want a more variable pricing scheme so not everything is just a buck anymore because we are dealing with pretty high inflation, right? you saw dollar general doing that as well. dollar tree and dollar general were worth roughly the same back in 2007, but now, 13 years later, why is dollar general worth twice as much as dollar tree? they say there should be a
catch-up here. stuart: charging more than a dollar per item. that's got something to do with it. boeing? >> yeah. boeing execs, -- [inaudible] the exact timing, i think they still need to work it out with regulators. stuart: that adds 50 points to the dow industrials -- >> oh, look at you doing the math so quickly. stuart: they put it in my ear. [laughter] bitcoin got it first upgrade in four years. wait a minute, cryptos don't get -- wait a minute, they have people who forecast -- [laughter] >> it's a technology upgrade for blockchain. [laughter] it's kind of a big deal because it's the first one in four years. this is going to make it easier, first of all, you know, there's more privacy involved, but also it's going to make smart contracts and payments a lot easier. so it goes faster, there's less friction if, lower transaction
costs. stuart and i i am told that taproot takes out the middle person. >> look at you. you were told that? stuart: yes, actually -- >> that's what i mean. less friction which means transaction costs should come down which is obviously very bullish for bitcoin. stuart: look at the dow winners, please, headed by boeing. they're up $9. s&p winners headed by, i'm squinting, susan -- >> dollar tree. stuart: thank you, thank you. nasdaq winners. go again. >> let's see. dollar tree -- [inaudible] that's a big, interesting move. paypal, qualcomm, ebay. stuart: all right. thank you very much, susan. all good. an msnbc anchor shaming an entire industry for employing too many aggressive trump voters. which industry would that be? roll tape. >> this is, again can, an industry populated by a lot of white men over the age of 55. this group of people overwhelmingly voted for trump. some people have talked about
aggressive truck drivers cutting them off or not being helpful. stuart: aggressive truck drivers, very interesting. lara trump is here later, and she'll take that on for us. president biden meeting virtually today with china's xi jinping. does beijing have something on hunter biden they could possibly use against the administration? interesting idea. i'll ask, kt mcfarland. meet the 28-year-old ceo taking his self-driving truck company public. he's 26 years old. his name is alex rodriguez, and he's here after this. ♪ ♪
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stuart: that's santa monica, california. looks nice. 71 degrees, right there on this monday morning. >> i'm frozen. stuart: it's freezing cold, especially in the studio. the logjam at california ports is getting worse -- >> a record 17 days. that was double the time from just two months ago. there are more than 80 ships just suck in a holding pattern at the california ports, waiting to unload, many of them are filled with christmas presents. it was one month ago that the biden administration unveiled their big plan to unclog the ports, but it has gotten worse. stuart what about the chip shortage? i'm pretty sure that continues. this is about producers going back to older models because they can't get the chips. can i get a machine with an on/off switch in the futuresome. >> you absolutely can. owbt a joy stick control, remember that? up, down, on, off?
this is a temporary solution this winter because the chip shortage, it's likely extending into next year. there's a company that makes snow equipment, they've brought back the joy stick to replace the buttons on some of their hand held controls. poe lair and b -- polaris and brp, they make snowmobiles, they left out some of the security systems. it's unlikely to happen, but that was a way around to continue to get products out to customers. stuart: could you get a dishwasher, load are up the dishes, close it up and press one button? >> i think whirlpool might be working on that. choices is easier. stuart: i could be helping out the supply chain with my technological ignorance. >> i love it. market around you. stuart: all right. let's get serious. i mean, really serious.
look at this. this is embark. it is a self-driving trucking company. it went public on thursday of last year at a valuation of $5 billion. wait for it, alex rodriguez is with us, he's the 26-year-old ceo who is now worth $500 million. all right, alex, congratulations on the money and the ipo, but let's get serious here. you're not selling trucks, are you? you're selling the software package that can be placed into trucks, is that right? >> morning, stuart. yeah, that's exactly right. the software that we're developing is really meant to help with that supply chain shortage you were mentioning. we're able to take trucks from a variety of different manufacturers, we're able to install a package on top of it and allow those trucks to drive themself and to do so 24/7 so you can take the cross-country time and instead of taking five days to go from an l.a. port to the east coast, it takes one and a half. stuart: i believe that you
charge per mile that your software is in use, right? >> yeah, that's exactly right. we charge on a per-mile basis, and we've been extremely busy. i was actually here on fox business when we announced the spac merger about three and a half months ago. since then we've been really a active rolling out 14,000 reservations with partners, up to a hundred transfer points where we can pick up and drop off loads and, ultimately, working to get these trucks on the road at scale. stuart: so when do i expect to see one of your self-driving trucks actually on the road? >> they're actually on the road today. at small scale in the u.s. sun belt, we are moving freight for big customers like hp, a.b. inbev. stuart: let me see if i've got this right, how this might happen. you've got a regular driver in one of your trucks that's being
converted to self-driving, you've got a regular driver in there. he or she takes it to the warehouse in an urban area, loads up, drives out to a pre-arranged pick-up point, then your software takes over, and you go 800 miles down major deserted highways, and another driver picks it up. is that how it works in. >> yep, that's exactly right. you're doing what's called drop and hook in the industry. you're actually dropping off the trailer to another truck with a person driving it. stuart: how much of the company do you own? >> it's in the filing, but between 10-20%. stuart: so you're worth upwards of a-billion dollars -- half billion dollars. >> that's to probably not where my focus is, to be honest. i think it'll be a lot more money and if and when these trucks are are at scale. stuart: how did it feel when you went public and you were
suddenly a very wealthy young man? [laughter] >> i think, like i said, i think what's the coolest about the process when we went public on thursday, it was really cool to go to the event, but i think the coolest thing was to be there with the whole team and to really get to talk to everybody about the vision of what we're doing. stuart: how old is the company? our only 26. you're only 26. how old were you when you founded the company? >> when we first kicked this all off, i was is the. i've been doing -- i was 19. i've been doing robotics since i was 11. stuart: okay. we really do wish you the very best of luck with this idea of yours. i hope it -- come back and see us when you're in full bloom. love to see that. alex rodriguez, you're all right. see you again soon, thank you, sir. all right. change the subject completely here. this is our legacy in afghanistan. the taliban parading american military vehicles down the streets of kabul. pete hegseth will take that on.
i'm dying to know what he's got to say about it. austria has ordered a nationwide lockdown for the unvaccinated. does science back that up? i'll ask dr. marc siegel who's with us after this. ♪ tonight the night, we'll fight til it's over. ♪ so we put our hands up like the ceiling can't hold us -- ♪ like the ceiling can't hold us ♪♪ [engine humming] . . . . “we will rock you” by queen ♪ the new gmc sierra with hands-free driving
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stuart: the surgeon general says the court's blocking of the federal vaccine mandate for private companies could cost lives. watch this. >> it would accept that for public health. what we know very clearly when people get vaccinated and the more people that get vaccinated the quicker we're able to bring this pandemic to an end, the more lives we can ultimately save. stuart: ending the federal mandate on private companies for the vaccine costs lives. dr. marc siegel joins us this morning. what do you sake of that, doctor? >> i think he is tying, together, stuart, good morning, strings that don't belong together. everybody should get vaccinated. yes, we need more boosters for everybody getting over the age 18. they are going-like a snail's
pace. the reason the court are having a problem with it, it may go to the supreme court it will not succeed, i will tell you why. osha, which is a work place safety is for things like blood spillage and hiv contamination from blood. it doesn't apply to vaccines. because first of all i told you the vaccines are waning. people got over covid that have immunity. is not being included. there is no testing strategy across the board. the point is it is a misuse of osha, work place safety and that is going to cause it to be defeated and he shouldn't be connecting it with this idea of public health. yes he is right public health is improved if everybody gets vaccinated. he is wrong with this kind of again superimposed bullying going on from the federal government. stuart: have you seen what is going on in austria, doctor? a nationwide lockdown for the unvaccinated. they can't leave their homes, go out to work, get groceries, get a vaccine. police will be checking up on
them, go outside, check for their authorization to be outside. what's with that, doc? it's a little draconian wouldn't you say? >> especially the part of world we're talking about, austria. $1600 worth of fines if you don't get vaccinated, two million people involved. you just have to look to spain where 90% of the country is vaccinated, with no regulations, no superimposed mandate. all because of community spirit, all because of family consciousness that is the way this works talking one-on-one to people, talking with doctors, involving community leaders, not some threat you stay at home 10 days, sirens are going off, police are in the background, if you step out of the house and you're unvaccinated take you away give you a big fine, very scary science fiction stuff. stuart: we have a constitution in the united states, i don't think that would ever happen here. i don't want to be proven wrong
either. doctor, thanks for being with us on this monday morning. see you soon. big show still ahead, look at this for a lineup, bring and kill mead, steve forbes, lara trump, pete hegseth. what is show. the second hour of "varney" is next. ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones
♪. stuart: well, good mornings, everyone. it is 10:00. i think audience may have heard that. talking about the going to florida and cut the christmas lunch in half because so many of her friends are going to florida. dow up 100 points, s&p up 13, nasdaq up 48. modest rally on the open in trading in stocks today. how about cryptos? bitcoin hovering, we got bitcoin at 64,800. ethereum just shy of 4700 bucks. the 10-year treasury yield, moving up just a tiny fraction,
1.95% right now. and now this. they keep getting it wrong. the biden team makes optimistic projections that appears clueless when they don't pan out. you know it's unsettling because it happens so often and the issues they get wrong are so important. four months ago the administration said the inflation is transitory. it would go away. wrong. now inflation is running above 6% with no end in sight. three months ago the president said the virus is on the run. okay. but covid cases are rising again. six weeks ago president said he would get the california ports running 24/7 but there is still a huge backup. the supply chain as not been fixed. the border? secretary mayorkas says it is closed. obviously it is not. let's not forget in afghanistan. in august right before the fall, jen psaki said quote, it is not inevitable that the taliban take over. the taliban parade around showing off the the weapons we
left hind. it is far too easy to dismiss this as just a messaging problem. it is more than that. it is an administration that is floundering. they don't have policies that they fix the problems they helped create. a classic example over the weekend. the top economic advisor said if we pass build back better it will cut inflation. since when have prices gone down when you throw trillions more into an already overheating economy? this is serious and unsettling. leadership is weak, policy contradictory. in a moment you will see the impact all of this on the president's standing. the second hour of "varney" is just getting started. ♪ stuart: the aforementioned liz peek with friends leaving for florida every day. look at this, president biden's approval rating hit a new low 41%. he has a 12 point deficit
underwater to the tune of twelve points. it is worse if you look at his handling of the economy. liz, how does the president or can the president turn this around? >> i think it is going to be tough heavens knows the numbers can hardly get worse. if we make some progress on the pandemic that will boost biden's approval ratings. even things like that he has yet to appoint a fed chair. this is something should have been done by now. he is weighing two different candidates, jay powell who is up for renomination, and lael brainard who is a very dovish fed chair which is giving the markets jitters with inflation being the number one issue. the polling is horrendous but here is the number that really alarms me, i have it here to make sure i got it right. consumer sentiment plunged down to 66.8. that is a way down from october. most economists thought it would go up. inflation the number one issue.
here is the thing, stuart, when ronald reagan smashed jimmy carter in a landslide election, consumer certainty meant was 75. give you idea how bad this is. this is with a job market booming, anyone can get a job if they want one. market new highs. consumers are so pessimistic. they think a recession is coming next year. coming out of the university of michigan sue say they think biden has no solutions that that is the underlying theme of the survey. look at the generic ballot. gop leading democrat by 10 points in the wapo poll? that is unprecedented. for them to be pushing the build back better bill on top of all of this, by the way "the washington post" dishonestly reporting that the majority of americans approve that bill, they do by a very slim majority but 59% say they're worried about the
government, the bill leading to government being too big. so if you ask them do you want to pay for it with higher taxes, are you worried about big government, the answer they are not on board with this bill? stuart: that's fascinating. >> yeah. stuart: that generic poll, generic republican against generic democrat and the republican wins. now that is extraordinary. haven't seen that in years and years. >> that took some doing on of the part of democrats to lose historically several point lead. this is bad news for democrats. stuart: sarcasm is a low form of wit as you well know, liz peek but i enjoyed it. >> thank you. stuart: see you again soon. >> hope so. stuart: don't move to florida. president biden just named a new senior advisor and infrastructure coordinator. who is it? lauren: mitch landrieu, the former mayor of new orleans. he led the katrina recovery and allocation of the federal money to that state and city. he also removed confederate
monuments from new orleans. he has the disaster experience and politics to work for president biden. he makes sure the allocation of federal money to states and shovel-ready projects work flawlessly. the bipartisan infrastructure bill is the major win for the administration. might be the only one. stuart: i remember president obama's 863 shovel-ready jobs that weren't. lauren: they ache h take some time. you might wait to 2023 to 2024 to see the effects of bipartisan infrastructure package which is a problem with the midterms because it is not immediate but inflation is. stuart: well-said. back to the markets. we had a pretty solid rally at the opening bell. that faded. dow up 70, s&p up 17. dennis gartman with us. dennis let's get right at it here. you're not into cryptos, not really into the bull market.
do you feel a little left out? >> i don't feel left out about the cryptos. sir isaac newton bought into the south seas bubble watch his entire net worth dissipate in short span of time. he probably felt like he was left out for a while. he bought back in. he was left in. that is a big difference. i will let the cryptos which i think are a ponzi scheme of the first order. eventually i think they all go to zero f they go to 500. if bitcoin goes to 500,000 it will do so without me. i don't believe it. i never understand it. i never shall. god bless the people who have been long made a lot of money. i wish them well. i hope it continues for them. i have my serious doubts. do i feel left out? not really. do i feel left out of bull market in stocks? i am not as aggressive as other people might be. i think we're overpriced. i think the expansionary policies of the fed have been ill-advised for the last year-and-a-half or two.
i fear we're in for recession next year. i'm long stocks, only marginally show. demonstrably less than i was. am i short no. but do i feel left out of the stock market? i'm not as profitsable as other people have but i feel fine for a man of my age. stuart: a man of your age. we always come back to this. can you tell me if you bought any sock in the last week? -- stock. >> i swapped a little of one stock for another, have i increased my long position? marginally, maybe five or 10%. nothing dramatic. stuart: we keep getting all the forecasts that the s&p will be at 5000 at the end of next year. 5300 we heard this morning. other commentators said, well 47, 4800 at the end of next year. they're all bullish. where do you stand on all of this? >> the trend has been up for the last, what decade or so. the fed has been expansionary. the expansionary monetary
policies are good for stocks. eventually that will end. as i said a few minutes ago i'm not as long as other people might be other as long as my friends are. am i short? no, that is the big difference. to put it into baseball terms i think we're in the bottom of the 8th inning of a 9 inning ballgame. we have one inning to go. when you have end of bull markets get a explosive rally. will i fade out? no. as my old friend gary shilling told me a long time ago the market can remain illogical longer than you or i have money. stuart: i know gary. >> he is bright as he ever was. he is a great friend. stuart: he makes honey. >> he makes honey. into beekeeping he is industrious fellow. stuart: hope he is watching. see you soon, dennis gartman. >> see you next week. stuart: yes, sir.
look at movers, coinbase is moving. not bad, six bucks up. what is the story. lauren: financial times that the coinbase is keeping bitcoin going. raised a $200 billion for a venture capital fund dealing in crypto. that doubles expectations. a lot of people pouring money into the space. stuart: wework came into money. four, 5 1/2% gain. lauren: still losing money. loss narrowed since the first report card via spac last october. this is pretty nice pop for the shares. the valuation is still well under the 47 billion pre-pandemic and pre-the abandoned ipo because of adam newman, the ceo mismanagement. we're in a new environment. people want a lot of flexibility when it comes to office space for workers. stuart: buyout for office mattress company, casper sleep. there has to be a buyout from that. lauren: durational capital
management. values casper, 6.90 a share. that is 94% premium to the close. they are the mattress in a box people. casper sleep. stuart: this is something i don't understand. i keep hearing we're about to hear, have the true identity revealed of the guy who created bitcoin, huh? lauren: so that person or people goes by the name, satoshi, nakamato the identity was secret all this year since bitcoin was created in 2009. we might know who it is. there is trial in florida where the family of a dead businessman who is seeing his former business partner, craig wright, who claims to be the sole, only creator of bitcoin. why is this important? at stake is one million bitcoin. that is worth $70 billion. the family wants to know, prove it, craig wright, are you real and only creator ever bitcoin? we'll see. he is, there is a key to unlock the one million bitcoin that they own to move it.
got to prove it. so we can find out who this person really is. stuart: i would like to be in that courtroom. lauren: yep. stuart: 64 billion bucks, is a lot of money. biden's top economic advisor claims the build back better plan is not only going to fix inflion but it is fully paid for. watch this. >> we're confident this bill as it moves through the process is going to be fully paid for and not only that, it will actually reduce deficits over the long term. stuart: okay, but they still haven't told us the true cost of biden's big spending plan. then we have winsome sears, the first black woman elected to state wide office in virginia. she says voters are sick and tired of politicians pitting black and white people against each other. watch this. >> they're tired of the black against white and asian against latino. we don't have to tear one person down in order to build another up. that is no way to be. that is not america. stuart: vivek ramaswamy is on the show, he will take that on and other things too. twitter, facebook, accused of
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speak but we've come back a lot from where we were an hour ago, 45 minutes ago. the dow is still up to 71. s&p up five, nasdaq has turned south to five points. apple is in the news. they are rolling out digital i.d. cards. first of all, lauren, what are digital i.d. cards, and i want to know are taxpayers footing some of the bill for it? lauren: digital i.d. card, your driver's license are stored on an apple app. yes, tax pay remembers footing the bill. the four states they want drivers to store the licenses on the apple wallet app. these states, georgia, arizona. doing this very soon. apple is sticking them with the bill to do research for this, to service the system, maintain it, hire the workers, to promote it, basically absolving themselves of any responsibility while keeping all the information they have from those identifications. stuart: so it wouldn't be just, in the future sometime if this is resolved?
driver's license on apple i.d. in your wallet, whatever it is called because it could be a medical card, insurance card, all that kind of stuff? lauren: anything you give them. so when you go to the airport for instance, biometrics, when you go to a concert, we're putting it all online on our phones here. if apple is in charge of that, they have a lot of information yet they're kind of absolving themselves from the biffle and the responsibility. stuart: how good of them. got it. thanks, lauren. closing arguments are about to begin. i think they actually have already begun in the rittenhouse trial. social media giant coming under a lot of fire for suppressing any climb that rittenhouse was innocent. that guy ashley webster has the story. is big tech suppressing opinion, ashley? ashley: in the case of kyle rittenhouse, frankly yes. critics say social media platforms already decided the teenager was guilty before he went on trial. rittenhouse shot and killed two people, injured another during protests in kenosha, wisconsin,
in august of last year that had been sparked by the police shooting of jacob blake. some see rittenhouse as an armed vigilante who should go to prison. others say he acted in self-defense as he tried to protect people's property. immediately after the shootings social media companies began to block users who expressed support for rittenhouse. twitter suspended the accounts of users who called the teenager innocent, including the defendant's own lawyer. facebook said it designated the shooting as a mass murder and removed the shooting accounts from, the shooter's accounts that is from facebook and instagram. the platform also blocked searches for the name kyle rittenhouse. in other words guilty unproven innocent. twitter by the way still banning or suspending users from supporting rittenhouse even as the trial wraps up. facebook searches for rittenhouse's names turns up no results. even the fund-raising platform, gofundme remove ad page that was
set up to support kyle rittenhouse. when questioned by fox business the company stated, quote, raising money for the legal defense of an alleged violent crime is a clear violation of a long-standing policy within our terms of service. we should point out that the site does host regular fund-raisers for individuals associated with black lives matter. so even though social media has made up its mind, stu, the real verdict could come together as the jury begins its deliberations. stuart: i'm sorry, i just find that really outrageous. great report, ash. thanks so much. i want to bring in vivek ramaswamy on this. you could say, you could say on twitter that rittenhouse was guilty before the trial but you can't say he is innocent during the trial or after the trial. that's outrageous. can't have that. >> it is outrageous, stuart and here's the thing, here is the way the game works. that actually has influence on the result itself. let me tell you how. this is a politically most
straighted prosecution. there is in my opinion no way a prosecutor would have brought the case on the hazy facts that we had here if it weren't politically popular for him to do so. but why was it politically popular? because social media had tilted the scales with respected to bounds of acceptable debate here. you can say he was guilty but you couldn't say he was innocent, in turn what made itlyally rewarded politically prosecutor to bring the case. that is in my opinion a abuse of proscutorial power to go with with political pannerring. we see this in the real world including actions taken by the government itself. think about the confluence here about the politics of the situation and private sector action. you have a powerful congressman said we should lock him up and throw away the keys. gofundme stopped his legal fund-raising effort. social media companies that censor any posts saying he is innocent. imagine the same person were black, would you think the
reaction was any different? of course it would be. i personally think it is wrong whether he was black or white. it is an affront to the american system. stuart: on the same vein, lieutenant governor elect, winsome sears says her historic win are sick of seeing races pitted against each other. watch this. roll it again. >> we're tired of the black against white and asian against latino. they're tired of it and tired of politicians who won't let the wounds of the past heal. nobody is denying we don't want to hair all the history, least of all me. i certainly don't want the sins of the past to be repeated. we don't have to tear one person down in order to build another up. that is no way to be. that is not america. stuart: you know what, vivek? i'm hearing a lot of that. i am hearing popular point of view, pitting races against each other. i'm sure you agree with this. >> in should be a partisan
issue. i applaud her for saying that. barack obama in his 2004 speech said we don't have a black america or white america. we have united states of america. this is call to action for a republican lieutenant governor the state of virginia. doesn't matter whether you're partisan or not, stuart, we have decade of diversity where in the name of diversity we created a culture of divisiveness. our diversity is a great thing but it means nothing if there is nothing that binds us together as one people across diversity as americans. that is what we're missing. i think we're ripe for a political revival in this country that reharnesses the basic principles, the content of your character matters, not the color of your skin. i think americans are quietly hungry for that. i'm proud of her. stuart: we're a constitutional republic and we should never forget it. vivek ramaswamy. thanks for being here. >> thank you. stuart: a cnbc host, tiffany
ross, that the trucking industry is dominated by aggressive trump voters. watch this. >> this is again an industry populated by a lot of white men over the age of 55. this group of people overwhelmingly voted for trump. some people talked about aggressive truck drivers cutting them off or not be helpful. stuart: good lord what is going on here? and what does trump's daughter-in-law make of that? lara trump is on the show in the next hour. president biden will hold a virtual meeting with xi xinping today. will the president confront him on the origins of covid? we have a report on that from the white house next. ♪
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on the dow. nasdaq gone south. s&p up four. susan is back with us. palantir. susan: 39 degrees brisk. i love it. palantir announced a deal with big bear empowering the next artificial intelligence on their operating platform in case stu cares. i think it is important, palantir seriously are trying to diversify away from just government agencies who have been primarily their main clientele. they are getting an endorsement from america's largest public pension. california public bought 3.6 million shares over the summer. i think that is a big check mark with they're buying in. stuart: kyrus -- susan: cyrus one. stuart: that is classic miss sake. cy -- susan: cyrus one, we were talking about it during the
break. you're cool and savvy. cyrus one, going private in a 15 billion-dollar deal with kkr and global infrastructure partners. 90 bucks, all in cash, mind you this is what we call merger arbitraging. stuart: that will go down for the blooper real. i will lever live that done. cry us zone. susan: morgan stanley says it is expensive after doubling from covid. ms says it is should be worth 13% from here. talking about rising competition a lot of different cybersecurity companies especially in the world of cyber threats. they say pricing power may be less with more players out there. stuart: find me a cybersecurity company that stops all hacking immediately. susan: that is what they aim to do. stuart: they're falling short of the goal i think.
susan, good stuff. things very much indeed. president biden will meet with chinese president xi xinping virtually at the white house. jacqui heinrich at the white house. jackie i think the white house set a low bar on this but i want to know if the president will be tough on xi xinping? reporter: we'll have to watch and see for that, stuart. the white house indicating the president will not hold back. of course there is some lingering concern whether he will address the origins of the coronavirus pandemic. the meeting is expected to last several hours according to a senior administration official but the white house didn't give any preview of a focus on to covid origins despite president xi resisting global pressurecooperate into the investigation. >> i hope joe biden will bring that up because we know what this virus has meant to the world, what it meant to our country, what it meant to our civil liberties. i hope he does but frankly doubt he will. reporter: press secretary jen psaki says covid origins is a
remaining concern for president that the president will not hold back on areas where he has concern but the white house is setting a low bar on the summit. no major announcements are expected and no quote, deliverables are being you sought out and the customary joint statement the two countries after the meeting. >> this is about setting the terms in our view effective competition, we're in a position to defend our values which will certainly be part of the president's conversation and those of our allies and partners and also discuss areas where we can work together. reporter: white house says it will focus on diploma my and areas of intense competition to keep the lines of open to strengthen america's hand but chinese officials signal taiwan will be a top issue for these talks. chinese forces held exercisings near taiwan in response to a congressional delegation visiting the island. the administration says the president will build common sense guardrails with respect to
chinese aggression towards taiwan to avoid quote, unintended conflict. they said the chinese relationship is a crucial crossroads toe effectively manage differences, properly handle sensitive issues and discuss the way of peaceful coexistence. this will be the third call between the two leaders since february and the messaging from the white house surrounding today's meeting closely mirrors when we herd back in september when much of the focus was on the same issues. stuart: low bar for the meeting. jackky, thank you very much indeed. on that note, "politico" has a headline, don't call it a summit. biden-xi meeting brings low expectations. yes it does. kt mcfarland joins us. how about a different kind of question to start with. has china got something own biden through hunter biden? >> i guess we'll never really know and justice department
doesn't have any interest in investigating it. i think it is more complicated than that. yes, they probably have something. dough they need to act on isn't no they don't need to act on it because joe biden is very passive president. they look joe biden a physical symbol of what the united states is, which is a nation in decline and china is a nation on the rise. as a result of that they will press every aspect of the relationship to their advantage. they will not make any concessions and they certainly don't expect any pushback other than perhaps a little verbal pushback from joe biden. i don't even think they will get verbal pushback. stuart: i think president biden asked for the virtual meeting. what is the point of the whole thing. >> there is no point of the whole thing. you know i am thrilled that the white house is saying they're not going to be any deliverables. we don't have any expectation of it. great because you know what? any deliverable that would have happened, any agreement that would have happened in the summit meeting or conference or conversation would be at u.s. concessions. so i'm really delighted there
will not be any u.s. concessions because that's the only news that would ever come out of this. but you know the question is, stu, is joe biden going to sort of press the case? is he going to ask about the origins of covid? is he going to ask about human rights issues in hong kong and the uyghurs? is he going to talk about taiwan? what will happen more than likely, this is what happens with the china niece do when they meet with every american administration, we have one nonnegotiable demand, that is core value, taiwan is part of china, period. stuart: that's it. that's it. there you go. kt, i guess we'll find out more after this virtual meeting but it doesn't sound like it is going to be a whole hill of beans. kt mcfarland, thanks very much. we will see you again soon. thanks a lot. >> thank you. stu. stuart: look at this. bring you up to speed on gas prices. what you're looking at is a new record high for the average price of gallon of regular in
california, $4.68 per gallon. that is the average for regular in california. more on that in the 11:00 hour. airlines were quickly bailed out during the pandemic but one transportation sector may have been overlooked. i'm talking buses here. we're talking to the ceo of the american bus association next. ♪.
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crash. that is serious charge. lauren: it is. it could be the first known accident involving this fully autonomous software. it is in beta mode. apparently one of the drivers said he or she tried to retake control of the wheel and the system wouldn't let them. they wound up going into the wrong lane and got hit by an oncoming vehicle. everybody is okay. this is according to a report. the incident is obviously being investigated but in this driving assist system, the system should disengage the driver should retake control of the wheel that is the whole point of it. in this case apparently that didn't happen. stuart: if you're striving along self-driving and it suddenly goes out of control you can't control it, that is scary. lauren: major problem. tesla shares down 4%. stuart: there is also some speculation, musk will sell some more shares that is not helping. he is well below 1000 bucks now. got that. now this, the bus industry still recovering from covid. the american bus association ceo
is peter pantuso. he joins me now. peter, i believe your revenue for the private bus industry is down about seven billion dollars compared to 2019. is that accurate? >> that is pretty accurate, stuart. good to be with you today. last year was even worse. we are typically a $15.3 billion industry. last year we operated at about 2.6 billion. and this year, you're right we're down over 7 billion. it is an industry really in peril right now. stuart: what's the main problem here? is it lack of drivers? is it the high cost of fuel or just not going back to the bus? >> well it's a challenge all across the board. so i look at the industry really three different segments, the scheduled segment, greyhound megabus, charter bus, commuter bus. on commuter bus, people are not going back to work so those operations are slow to come back. on the charter bus side, planning takes months, sometimes years.
you have conventions and other events that take place on charter buses. those are slow to come back. and then on the scheduled bus side. those are back at about 50%. across the board the industry is still operating at about 50%. better obviously than 2020, but a far cry where we would normally be. stuart: the airlines got tens of billions of dollars to help their industry. did you get anything? >> yeah, the airlines got tens of billions, transit got tens of billions, amtrak got billions and they're all getting some more in the infrastructure plan that the president will sign later today. we got a little bit of money. there was a bill we had in congress would have given the industry $10 billion. it would have been divided between the motor coach industry, passenger vessel and school bus. in the final analysis in september got cut from 10 billion to 2 billion. we are needing additional help. we're asking congress for a little help.
not a handout, a bailout, but just a bridge to get us through the pandemic. stuart: congressman, they want you to go green. they warrant you to get electric buses. surely you get help for that, won't you? >> we have the greenest form of transportation right now. with clean diesel, with clean engines been in place over a decade now, we're on a per passenger basis the cleanest form of transportation but we still need a little bit of help to get us through the pandemic. stuart: do you think you will get it? >> i hope so. i hope so. you know, we were disappointed to see there wasn't any money in the infrastructure bill. we were hoping there would be help in reconciliation but that is still to be determined. we understand there might be a small business package that could work it the way through congress before the end of the year and hopefully we'll be a part of that. we're one of the only industries that i know of that are still operating less than 50% capacity right now. we're the the industry that moves the military. we move people out of harm's way
when hurricanes approaching. we're a small family business. we're everything that america stands for and we need a little bit of extra help in these tough times. stuart: keep in touch, peter. we like to know if you get the help. the american bus association. see you soon. >> thank you. stuart: elon musk to be a a jab at bernie sanders for demanding the wealthy pay their fair share. he doesn't hold back. we'll tell you what else he had to say in a moment. boston celtics player enno, sir kanter says president biden needs to stand up stop playing games with china. what does the nba say about that? do they approve his statement? brian kilmeade is here. ♪.
♪. stuart: democrat senator from vermont, patrick leahy just announced he will not seek re-election. he has been in office for almost 50 years. elon musk sparred with bernie sanders on twitter. it's a wonderful story. take me through it. lauren: senator sanders reiterated his desire to tax the rich. he tweeted we must demand the extremely wealthy pay their fair share.
elon musk tweeted book i keep forgetting you're still alive. want me to sell more stock, bernie? say the word. he sold $7 billion worth of tesla after asking his twitter users if he would. he takes no sally. so he is cash poor in that sense -- salary. he has to sell shares to satisfy uncle sam. >> tesla is down $1000 a share all over again. bang, 10:51 eastern time. brian kilmeade joins us. boss 10 celtics play, ennis kanter has a message for our president ahead of the meeting with president xi. president biden stop playing games with bullies and do what you promised to the world, prioritize human rights. we got that, brian, i want to know what the nba is saying about this because they have a huge stake in china. >> they said things in support of ennis kanter. what he said, the nba says you can come out for social causes. we support you.
he came out against china. radio silence from the rest of the league unbelievably. we'll play the olympics there. what they did, china said we're not longer carrying boston sell tick games. they're not carrying houston rocket games. not carrying boston sell tick games. it will cost them on the, indirectly cause the celtics a lot of revenue. how can you say i'm coming out against genocide. you can't be quiet. look at his shoes. his shoes have all the declaration about the evils in china. he is showing more guts than the secretary of it state and the president who won't bring up the origin of the virus, doesn't want to bring up hong kong. evidently the big message from president xi, don't bring up taiwan. i bring it up. you need to back off. stop with the ships coming through the taiwan straight. who will show more guts, the turkish born boston celtics
center or president of the united states? i will not answer the question, brian, because i know what the answer is. look at the cover of the new york pete today, i will quote it, even dems dislike biden in his latest devastating poll. who is left? the background here is that a poll pitting a generic republican against a generic democrat had the republican winning for the first time in a long, long time. look pat that, approval chart. i mean he is down to 41%. this president is just, i mean the support is just going away from him. >> so this is what i like about this. it goes to show you even in if 9/10 of the media ignores his screw ups. the fact he can't get through a prompter reading without stop looking at the prompter like it is written in another language, the fact he does not do any interviews. they have to walk back when he does a town hall, four or five things after every appearance, his decisions epically bad. first and foremost the
afghanistan war and the way he decided to end it, it shows the american people are not taking their cues from the other networks. they're looking at it honestly saying i can't buy into this. it scares me. what i think is also important too, republicans had another opportunity like this back in 2010 where it seems as though president obama was cratering. they would win big in the house but they blew the senate. just because, because they nominated the wrong candidates in nevada, and i believe delaware. they have to be sure that they put the right candidates up in the senate and what i say is at stake, i couldn't care less about the republican party but the direction this president is leading us because he is being led by his left-wing is scary for the country. he is not the moderate he claimed to be. he is not center-left. he is way out here. our country can't survive this. the first case in point to show these polls are real, if the moderates decide they're not going to fall on the sword for this reconciliation package.
stuart: that will be a good sign. by the way, how is the book tour going? >> been going great. it is great to see, still dealing with race in america. when i go back to talk about douglas and lincoln and put it in context, people stop panicking, saying we're coming apart. we did come apart. and we came back together because these two extraordinary men. i feel like i'm reassuring people to a degree. i was in indiana, albany, atlanta. traveling the country, having a great time. stuart: i don't know how you do it. you're the hardest working guy on the planet. i don't know how you do it. i take my hat off to you, brian. you're a good man. i don't care what they say. i think you're all right. >> what do they say? stuart: later. brian kilmeade, we'll see you later. >> thanks, stuart. stuart: still ahead on the show today, steve forbes, lara trump, joe concha, pete hegseth. a wall of money has been flooding into the economy, fueling the markets and inflation. if this produces recession next
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>> were pushing a big boulder up a steep hill if they think they can convince americans a massive debt bill will make inflation. i never thought i would see the day when we would have this taxing. >> consumer sentiment in early november plunged and it plunged at 66.8. consumers are so pessimistic they think a recession is coming next year they think biden does not have any solution. >> the bottom of the eighth inning, we still have one inning left to go what happens is you usually get some explosive rally. >> you can't drive through life look into the rearview mirror janet yellen company has to shift on a moving forward basis ♪.
stuart: 11:00 o'clock eastern time, that is on the east coast, the dow industrials are up 100 points as we speak. it's been a modest gain throughout the show, the dow is up 36200, a tiny drop for the nasdaq composite. let's have a look at big tech. facebook meta, $350 a share right now, however, the ten year treasury yield. this is why big tech is not doing universally well, dear that's gone up 1.60%, big tech does not like that rise and yield and that's what we've got. now this. we have never ever seen anything like this before, that's not an exaggeration. i'm talking about the wall of money that's flooding into the economy and the markets.
it was an enormous amount of money, the accuracy we asked our research department to detail at all. look at this, 192 billion families first act, 483 billion paycheck protection, 2.2 trillion cares act, 900 billion, consolidated appropriation act, hold on, that is money already approved, not all of it has yet been spent. now comes a really big money, 1.9 trillion to american rescue plan, 1.2 trillion american rescue plan, the 1.8 build back better plan, do the math that is over seven and a half trillion dollars. granted we would never have to deal with a global pandemic before but we really have never ever seen anything like this wall of money before. i've not even counted the trillions printed by the federal reserve, no wonder the stock market is rallying and we have a bad case of inflation in part
this is the democrats buying votes, in part it is joe biden dream of being a 21st century fdr or lbj, the effect will be inflation in monumental that. if this produces a recession next year before the elections, in my opinion the biden presidency will be finished. third hour of "varney" just getting started. ♪ steve forbes joins me this monday morning. is the wall of money causes a recession i'm saying biden is finished and i going to far by saying that. >> not at all he hasn't shown the capacity to recover from that you saw bill clinton recovery in 1994 midterms, barack obama 2010 so far this
presidency shows no flexibility to adjust to reality obama adjusted, clinton made some adjustments inside the tax cut after that disaster i see no sign with this presidency. stuart: president biden top economic advisor says the bill back better plan is going to fix inflation, bear with us we want to see the audience see this again. >> inflation is high in its infecting consumers in the pocketbook and also in the outlook for the economy. those concerns underscore why it's so important that we move forward on the bill back better legislation this more than anything will go with the cost that americans face. >> they don't seem to know what they're talking about. >> i would not want him in charge of the fire department he would throw gasoline on claims he's an arson is in that respect. the money printing that you mentioned the federal reserve has held a little bit of that
but that will likely break next year the massive spending bill 1.85 billion, we owe ed billion, now it's more likely for a 5 trillion. this is going to be bad news especially when the money starts to flood into the economy next year. that will give us traditional inflation, monetary inflation not just the prices we see from the polite shot which is making worse crazy energy policies and other things that is hurting production and recovery. stuart: what happens if the president approves lael brainard for the next chair of the reserve. she has a reputation for being a double someone who would. money more willingly than jay powell, what impact on the market if the president did appoint lael brainard. >> i think the markets want to see what are the chances or nomination will be approved in the senate, the republicans would look at it perhaps some of
the modern democrats not just sinema and manchin but others to realize what is happening to the politics of this country. maybe they will take a stand on it. we will have to see. the far left once a power move even though he's been accommodating to massive spending which federal reserve had no right to go out and say we needed the massive spending bills but powell did it because he wanted reappointment but that's not enough for the far left they wanted to commissar in their. stuart: we share a specific unease on where our country is going and where our economy is going, we share that don't we? >> we do indeed the sad thing is this fundamentals in terms of people wanting to get things done starting new businesses is still very strong and if we remove these obstacles whether it's keeping people out of the workforce, trashing the energy industry, making it harder for small businesses to start up trashing the pharma industry in the research going on which would mean a better future of conquering diseases all that can
be cured the government would just have to get out of the way if biden would take a big entrée vacation for six months they will come back looking like geniuses. get out of the way. stuart: dream on. another nightmare by any means, thank you for being here, see you again soon. check the markets again, mixed picture the dow was up a hundred, s&p up for nasdaq down seven. i'm going to ask a question and i'm going to answer and you can fill in the details. what is the best bn to be in america right now, rental property in florida, am i right? >> you are absolutely right, i think florida has become especially south florida is the new beacon of prosperity were in florida there is more freedom, more jobs, less taxes, you have
an avalanche of people moving into florida but not only that your business is moving out of the blue states into florida and what it created, a shortage of apartments, i'm all about economics apply theory, supply and demand and right now in florida we not only are seen rent move up we saw home prices last year move up 27%. a lot of those people can't find homes, they're looking at apartments and in florida what you have now is vacancy rates below 5% for the first time in decades. if you were in the apartment business, and investing apartments in florida, you're in a very, very good position. with a thousand people moving into florida day, that cannot afford homes, there is a need
and supply. from what i see there is only going to be 10000 new units in the market in the coming year. with that you're making the money hand over fist as people move into the great state. stuart: a thousand a day in these areas where availability is under 5% not seen in decades. i know south florida, i spent some time there had been there a lot, there is a feeling of prosperity and dynamism, it is the new center, i don't know how to put it but the prosperity seems to me, it is dynamic, have you been there recently? >> i go there a lot, i had my bags packed. i still live up northeast but i will tell you even when you land in florida, you get a sense of
the land of prosperity and freedom that's what we want prosperity and freedom we don't want all these taxes if we look at the northeastern states and people leaving and drones doesn't seem to bother the politicians, they don't seem to be concerned that people are leaving and drones to set up a new life. again there's not enough housing that's where people need to focus investment in trying to get more housing to accommodate the freedom seekers. >> i like that expression, all join the club any day, great will see you again soon. looking at movers target on the screen 2.6% deal that target
start next week, $60 off some apple watches and air pods you can do but go on some of their toys buy one get one and half off winter boots i was questioning as black friday exists because of the supply chain issues but it does at target. >> you can see. stuart: if you see it and want it, get it now. tyson foods has a new high, and nice gains. lauren: big orders as people dine out again how much isaac on advertising, pork up 38%, beef up 33%, as long as the story is a good one for tyson the supply is the problem not the demand. >> beyond meat is way down, not about today but certainly last week it was way down people are not going beyond meat.
legalzoom. lauren: this went public at $28 after a 7.5% gain its daca 21 the forecast fourth-quarter revenue higher than expected. stuart: 's come way down, thank you so much watch as a car explodes outside of the hospital in england. a terror investigation is now underway. we have a report on that. msnbc host is taking aim at truck drivers. she said the industry is full of aggressive white men who overwhelmingly voted for trump. lara trump is here to respond. liberal news anchor says all of you at home can afford rising inflation. watch this. >> the dirty little secret nobody likes to pay more on average, on average we have the money to do so.
stuart: i call that out of touch, joe concha takes it on next. ♪ you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire dad, we got this. we got this. we got this. we got this. life is for living. we got this. let's partner for all of it.
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>> the dirty little secret, nobody likes to pay more, on average we have the money to do so, household savings hit a record high over the pandemic we did not have anywhere to go out and spend. we need to put this into perspective, this time last year nobody had the vaccine, 200 million americans do immersing a push of demand and that is pushing a pricing. stuart: joe concha joins me, out of touch, three words, what say you? >> two words, did his rule make that statement from the beach house on the water or multimillion dollar in manhattan, talk about being out of touch, the middle class can absorb skyrocketing costs for gas or food or heating the home as easily as the richest of the richest 1%. here's on the ground fox news
poll, nine in ten americans worry about inflation, 84% say rising gas prices are problems for the family. inflation is not transitory as the administration insisted over the summer. if i didn't hear us and debbie and i wanted done proposition you could point inflation as the first of multiple reasons why and specifically as you talked about was steve forbes when you. more money that fuels inflation and that's all we seem to be doing right now bill after bill, trillions after trillions at all have an impact and to have an analysis saying we can all afford it, almost every american would say i'm not liking this at all and i cannot afford it. stuart: inflation is something that you see and feel every single day. we need to take a look at the op-ed in the new york times. republicans want to recast woke this as progressive politics run amuck, the term is being referred to in hyperbolic language imaginable from ideology to religion to colds. the media is blaming republicans for the downfall of that word.
i think they brought it on themselves. >> completely asked james carville and the democratic party he's on tv talking about what weakness has done to the democratic party in terms of damage, you have to turn to the other voice of reason in the democratic party, you know things are getting interesting when he's making arguments, here's what he had to say about renaming which we seem so addicted to doing when we cancel george washington or thomas jefferson, here's what he had to say we see a problem and we ignore it, lie about it, fight about it, sunset clause, ticket down the road and write a bill where it doesn't kick in for ten years, china sees a problem and they fix it, they build a dam and we debate what to rename it. that about sums it up. stuart: take the big picture, not just what's in the media but the whole feeling of the
country, it seems like a great disappointment and the biden administration. that is almost forcing the wheels off the bus of the administration. have i gone too far? >> no the numbers support what you're saying, there is a pullout last week that says two thirds of americans don't even want joe biden to seek a second term. i've never seen that number 470 his bed in office the same amount of time for a pregnancy to go to full term. there is such regret, even vice president kamala harris who is supposed to be a historic figure in the next generation from joe biden and she's pulling at 28%. these are numbers that are devastating to the president and his administration, maybe the spending bill the next one may not pass because they're not existent, i don't think joe manchin or kirsten sinema wants to sign on to a bill that will add to inflation and make them more popular in the red states
already. that's where we're at. stuart: joe concha, i always say, you're all right and we will see you again real soon. >> an early lunch, beyond meat monday. i'm going to chow down on that is be what it might help the stock if you do that. we'll see you again really soon. check dollar tree, that is right up there, up 15%, surging after activist have a rage took a $1.8 billion stake in the company, they want a more viable pricing scheme, not everything valued at 1 dollar. that's what inflation will do, plant-based milk reported earnings, sales not great, last quarter they said their facing challenges and supply chain they blame covid restrictions not the saturation of the open market, stock is down 19%. ashley webster can you bring me
up to speed on ohio opioid trial. >> si canada jury in cleveland is set to hear closing arguments today, two counties in ohio claim retail pharmacy cvs, walgreens and walmart accelerated the opioid epidemic by failing to identify red flags of misuse and stopping addictive painkilling pills for reaching the black market. the suit claims the pharmacies be responsible for the deadly effective epidemic and should pay each county a billion dollars. the company denied any wrongdoing, they say the blame falls on others including doctors and government and regulators. by the way it's one of 3000, 300 opioid cases filed against drug manufacturers, distributors and pharmacies. stuart: bring me up to speed on this, the car exploding outside of the hospital in liverpool.
we know that one person died, another injured, everybody wants to know, who did this? >> police say they know, i say allegedly it's been reported in the tabloids in the uk but they haven't officially said anything, they know the explosion came from a taxi outside of the hospital. british police thought it was bought by a passenger and is being treated as a terrorist incident, the passenger who detonated the device died in the explosion in the fire that followed but the taxi driver was injured but amazingly he's being called a hero he managed to jump out of the cab just as the explosion occurred but he also locked the bomber in the car. authorities say three men in their 20s have been arrested elsewhere under the terrorism act, a fourth is being detained. there are questions about the timing of the blast, just before 11:00 a.m. and remembered sunday
at the moment across britain people were holding services in memory of those killed in wars. stuart: good report thank you. the taliban holds a parade to show their us-made weapons. pete hegseth, military guy i cannot imagine what he will say. former president trump crushed biden in a hypothetical iowa poll he leads in that state by 11 points, will trump run in 2024, will see if lara trump can give us a clue on that. laura is next. ♪
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day. susan: all electric because tesla is down almost $7 billion and it looks like elon musk to pay taxes any threatening to sell more in response to bernie sanders tweet, talk about serious competition, they voted as a motor trend car for 2022 and we know the epa has the longest range of the market 520 miles per hour charge and have you checked radian, it was down this morning at the open now you're up another 12%, up another 100 billion-dollar evaluation on $1 million of sales. author and another electric carding polestar is expected to go public next year and look at the stock, it tells you there is so much euphoria ended makes the batteries, i would say all of these are probably benefiting from two things the
infrastructure bill and alana esg allocation. a lot of esg funds, trillions of dollars the green climate stock in electric car stock fit the mold. stuart: esg stands for. susan: environmental social government, that is a trend and investing these days. diversification. stuart: that pushes money into electric carmakers, a very good story. fantastic stuff, thank you susan, you should have warned me, your fault. let's get serious, msnbc tiffany cross says truck drivers are aggressive trump voters. take this. >> this group of people overwhelmingly voted for trump, some people have talked about aggressive truck drivers cutting them off or not being helpful.
>> aggressive trump drivers who support president trump, awful people, you have a response to that. >> i didn't know we had an issue with truck drivers, this is a news to a lot of us. the trucking industry we don't have enough people to drive the trucks which is contributed to the supply chain problem that we have all across the country, thank you joe biden. this was a mystery, the whole segment, she claimed that she wanted to see more african-americans as part of the trucking industry in their own statistic on msnbc almost 17% of the trucking industry comprised a black american, you look at us as a nation around 14% of america considers themselves to be black. there is an overrepresentation in the trucking industry of black americans i'm not totally sure what her point was, her
point goes back to what is the default they love to obsess, when they have no other opinion, no response and they default to raise and they want to divide us on that now we have to bring into the trucking industry, you actually look at things when we had the airlines talk about how they wanted to focus on hiring women and minorities. i think that is fantastic, overall, why are we focusing on merit-based hiring, i don't know about you when i get on the airplane i want to know the person, i don't care what they look like can get me from point a to point b, we know identity politics is core values of the democrat party we knows they chose kamala harris, current vice president based on how she looked, how do we think that is
going probably not very well if you ask most americans. this is part to the democrat party. stuart: desperation that is my opinion. i'm sure you saw this pole, donaldjtrump leaves president biden by 11 points in an iowa poll, a very important state, let me come at it this way that will encourage your father-in-law to run, won't it? >> is a great pull i would argue it's probably a lot different i think fewer people that would vote for joe biden i know the democrat party themselves have said they don't want him to run again in 2024, certainly my father-in-law has been able to see as we all have in america what a disaster joe biden has been as president. stuart: forgive me for interrupting you, i don't normally do that, you are lara trump but your sidestepping the
question. he leads by 11 points in iowa of all places. surely that's encouraging him to run, surely you can give us a hint of whether he will run in 2024, a tiny hint. >> here's what i will promise you, i will come on the show and make a definitive projection as to whether or not he will do it, it is not today but it is encouraging to see polls like this, i think whoever the republican nominee which i hope is my father-in-law in 2024 certainly has a far better chance now that joe biden the democrat party have show how poor of job if you give them the reins to the country, whoever the republican candidate this is good news but i would like it to be as many americans my father-in-law 2024, will have to
wait and see. stuart: mr. trump doesn't have much time for the republicans who voted for the bipartisan infrastructure bill who goes to the signing ceremony this morning. your father-in-law doesn't have much time for those republicans, does he. >> nor should he, these are people that don't have the best interest of america at heart, this bill was absolutely terrible from start to finish it does nothing positive overall it a put a burden on our children and our grandchildren when somebody ultimately has to pay for this it will raise taxes overall for every single american, he is not pleased with any of these people and nor should the american public be, i don't think they did themselves any favor for their own reelection, but the american people will have to sign on that. stuart: always great, thank you for being on here, we will see you soon. you have got to see this, iceland is mocking facebook metaphors, watch this.
>> it is completely immersed, it is water that is what with humans to connect with. you are a human right? stuart: what you make of that mark zuckerberg's response coming up. gas prices hit a record in california the average for a gallon of regular is $4.68 we have a report on that from los angeles. ♪
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drivers are paying $4.68 for a gallon of regular, is the white house doing anything to bring gas prices down? >> not much is a lot of talk but little action as of yet the administration is considering tapping into reserve or halting exports neither of those are long-term solutions that is tough when california hit a new record for a second day in the row. that spiral is coming at a time when los angeles prohibits oil drilling in california seeking to all new. that will drive down further at a time when demand is skyhigh the president urged them to produce more oil and blamed rising energy prices and the refusal to do so let's remember our reliance on foreign oil is to curtail .
>> prices are skyrocketing across the nation, minneapolis, st. louis, houston all about 50% versus last year, those hit hardest can't afford it. all the touting of green energy is not going to solve the pain at the pump anytime soon, as more people go back to in person working holiday travel heats up, that will be tough. stuart: thank you very much indeed, senate majority leader chuck schumer he wants the president to take action to lower gas prices. i think he wants to tap into the emergency petroleum reserve, that's what he wants to do. >> immediately tap into the reserve to reduce pain at the pump. take a listen. >> we need immediate relief at the gas pump and the place to look is strategic petroleum
reserve. i'm urging the administration to tap the reserve, get the prices down and then we have to embark on a full-time campaign to get us away from carbon fuels altogether. ashley: jennifer granholm said biden could act but there was no word that we would authorize the sale from the strategic reserve. analysts say any release would only produce a short-term effect and it would not increase u.s. production capacity. last week 11 senate democrats urged to crude oil exports to lower gas prices. ami nuts, did it used to be energy independent at one point or close to it. stuart: two years ago we were energy independent we didn't have to import oil from countries that hate us, we lost that, the administration lost
the advantage, they did not want oil production, didn't want pipelines, it makes no sense that you cut energy production at precisely the time were energy prices are going straight up when we need it. were all going in the wrong direction that is my opinion. you are all right, i'm moving back to the market for a second, shall be the dow 30, a lot of selling going on plenty of red left on your screen, the dow is down ten points. the third annual pager award takes place in florida, pete hegseth is hosting it is a star-studded event it will honor veterans, first responders, heroes and people give us a preview next. ♪
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liquor sales, they start again today the drinks will be available with 301 miles. iceland poking fun at mark zuckerberg metaverse in a tourism video. i have seen it before the viewers may have seen it but it is funny, take us through it. ashley: it's hilarious, and the icelandic people had such a great sense of humor, who thought mark zuckerberg would be the star of a tourism video for iceland it got people talking, were talking. it makes fun of zuckerberg video that was released in october announcing the facebook will change its name to meta. here's an example of the promotion. take a look. >> today i want to talk about a revolutionary approach on how to connect our world, what to be
called is not so new chapter in human connectivity. the iceland worse, it is completely immersed, water that is what. humans to connect with. you are a human right? ashley: i think it is hilarious, that is the look-alike mark zuckerberg with a caesar haircut. a press release continues explaining the business is to iceland can explore and navigate their way to the many different layers of captivating reality. what does mark zuckerberg think of all of this, he calls it amazing. there you have it but it's pretty darn clever. stuart: it was interesting, thank you very much indeed. i'm going to change the subject complete the, the taliban they
held a parade in kabul and you guessed it they made weapons and vehicles, pete hegseth is with us, i can imagine, this is not embarrassing, this is infuriating to guys like you into countries like this. >> yes, it is shameful you know based on how we left is predictable there was never going to be a taliban 2.0, whatever they were willing to tell us to seduce us into believing they had changed and provider security, of course they were going to take our weapons and use them and they want to project an era of power in the capital. they are still attempting to fight off certain elements of the country and then they send signals that's why if they exist to propagate the view that they want after 20 years, then they
took our equipment to boot accountable lieutenant cardinal who will know his fate were unsure whether he gets honorably discharged from only one person took accountability no one else in the pentagon now have a tear army parading through the streets. stuart: i do you would be infuriated, let's move on to the patriots award, third annual patriots award wednesday night, 8:00 p.m. eastern streaming exclusively on vaccination, you are the host, tell me all about it. >> you are getting the first exclusive shot of the theater of the stage at the hard rock cafe in hollywood florida. they have been working on a couple of days it is coming
together, tonight wednesday night that's where i'll be at the center of the stage on vaccination. it'll be an awesome night, a celebration of america, our honorees are not people who ever sought fame, they save the nation they didn't do it for money or recognition but on wednesday night we will honor the stories that really matter this is an award show that america deserves. i think we have one example of part of the introduction of our modern war year award, here is a quick sneak peek. >> there is a grieving. after being injured, we think your life sober and we think you will have the same quality in life, when you build goals you could take away the negativity of the healing process. >> there will not be a dry eye, what you honor is a reflection of what you value. in hollywood california honors actors who play heroes on tv. here in hollywood florida we
hold up the real heroes. stuart: i was going to ask you when hollywood california, i know the answer to that question. >> there carpet is red, our carpet is red, white and blue. great stuff we will be what. stuart: guess what, 11:54 a.m. here is a monday trivia question. i don't get the answer i got it wrong he was the first presidency campaign by telephone. the answer when we come back. ♪ i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. . .
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stuart: we asked you before the break who was the if president to campaign by telephone. come on in, ash. i guessed wrongly. i guessed someone not even on the screen. do you have a guess? >> i have absolutely no idea. i will go with coolidge. stuart: i will go with william mckinley if i had to. pure guess. pure guess. >> look at you. stuart: president h presidential election 189, a private telephone line created between mckinley's headquarters in new york, and chicago. allowed mckinley to campaign, keep up with the latest news. 1896. >> fascinating. >> don't say i was there. you're in florida. all day long we've been reporting that you have 1000 people a day flooding into florida. >> yes. stuart: can you see this?
>> oh, absolutely. i'm no northeast florida. i see connecticut, new york, new jersey, license plates everywhere you go into a coffee shop or restaurant. a lot of people from the northeast, stu. it is palpable. stuart: 1,000 a day. my goodness. that is a lot. ashley, thanks for helping today. always a pleasure. >> my pleasure. stuart: my time is up, neil cavuto it is yours. neil: thank you, stuart, dow barely budging, nasdaq barely budging, s&p barely budging. we're waiting to see developments later on today, the president signing that huge instruction instruction bill. we're exploring that with the transportation secretary of the united states pete buttigieg. he is big about bringing down inflation over 10 years and the 10-year plan will do that and bringing down all the supply chain disruptions. that is why