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tv   Varney Company  FOX Business  September 15, 2022 11:00am-12:00pm EDT

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>> anyone complaining about going back to work should be fired. if they don't show up, fire them. if they complain about it fire them. people complaining about it, probably seeing thank you, and a stock option. >> it is parallel jimmy carter. these are self-inflicted wounds, and it permeates as incompetence.
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>> everyone is showing us price increases. >> hearing about the fed, and central banks, they are not on the plainfield of the real world, and fighting inflation, ♪ stuart: that is new york city, new york harbor, what a beautiful day it is going to be, 80 degrees, bright sunshine, it is 11:00 on the east coast. good morning. let's get to the markets. look at the nasdaq, nasdaq is falling out of bed again, down 1.4%, 169 points, sharp decline, shelley big tech, if the nasdaq is down 100 points,
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big tech is down and it is. down 150 through, down 1% or 2% for the big tech stocks. the 10 year treasury yield, moving to 3.44%. now this. the president is angry. he was in full campaign mode, pushing policies that are not working and loses his temper when questioned about it. there is desperation here, less than two months to the elections and can't get traction with voters. he thought the inflation reduction act would be a winner but inflation is running hot so the white house party fell flat. inflation is the number one issue. he thought his green energy plan would the a winner. it is not. he went to detroit auto show to push unaffordable electric cars. he's out of touch. americans do not want to be
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forced into an ev especially when electricity is getting very expensive. voters are not buying his green agenda and he sees red. today the president holds a white house summit, he's calling it united we stand, how to counter hate you old violence. 20 of opportunity there to attack vigorously am80 republicans are bring up january 6th. the more tepid the polls, the more agitated the president becomes. we are watching the slow winding down of the biden presidency. they can't cope with the crises they created, they can't be honest about it. he was supposed to be the great healer, the unifier. he's not. he is an angry old man. third hour of varney starts right now. stuart: look who is here, shannon bream herself. let's get straight at it.
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am i being too harsh, angry old man? >> that comes across to a lot of people, think about speech on september 1st, that was one night the got a lot of attention and criticism, and the president make those statements over and over again. he continues to use the language, it will be interesting to see what he says today but when you talk to average folks who say if i voted for the past president and questions about the election that doesn't mean political violent extremists. to ask the press secretary, let's define amag republican, and the white house doesn't want to do that. she is speaking for the majority, if that's just a 59-49 split are you telling tens of millions you think they are violent or semi-fascist,
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who he is talking about. stuart: democrat congressman jeffries claims republicans running scared ahead of the midterms. >> they are running scared. the positions of extreme amag a republicans on the economy, on democracy, on reproductive freedom, on social security, on medicare, on a whole host of issues, has been exposed, and the american people do not like what they see. stuart: is the gop running scared? >> the polls are closing, we know as you move closer to election time, there are issues they are having to navigate. every house district is so nuanced and specific to that
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community they've got to run smart. on how they thread the needle. a congressman talks about number of issues but we have new fox news polling that shows on every issue we asked about, whether it is the economy, it is good or workable, 80% say it is fair or poor, immigration and foreign policy, even the climate agenda, his party, has got to be raising themselves but no doubt the polls have tightened. they have to be smart about this. stuart: of republican pollster says the gop should not go for a full ban on abortions, that would hurt republicans in the midterms. >> they talked to hundreds of potential voters and said people are with you on certain things and when you break it
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down by trimester there's a lot of that. you have senator graham proposing a 15 week ban at the federal level after republicans said row was overturned, this was turned back to the states, a lot of questions from democrats but republicans why lindsey graham is doing this, my exclusive guest and a lot of questions for him. i bet you do too. stuart: your exclusive guest on fox news sunday, you will be anchoring it this weekend. fox news sunday, shannon bream, always appreciate it. back to the markets, looking at the nasdaq down 150, looking at the dow down four points. the big loss is the nasdaq composite. adam johnson back with us thursday morning.
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have we reached peak inflation and when are we going to get rid of inflation not completely but bring it down 2%? >> the first question i believe we've reached peak inflation. leading indicators turn down. there's plenty i could give you to back that up but to enter the second question that is my charter and here's the reason why. i will admit i expected inflation to start coming down sooner than it apparently is. it is stickier as well. stickier than a lot of the spot. the issue is the inflation is manifesting itself on the service aside so we could talk as i have over the past month about freight rates coming down, working through the backlog of ships at the port of los angeles them only twee 8 ships are waiting off the coast of los angeles. we are working through supply-chain issues but now we are seeing services go up with which is stickier. we will work through this but it is taking time so i do think
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we reached the peak on inflation which is why the market has bottomed but now we get it to go down and until it goes down we can't get the fed off our backs and until we get the fed off our backs we can't see stocks rise so a series of things need to happen. stuart: the fed has to keep raising rates and it will keep raising rates. >> especially -- stuart: how can the market, hard to get rid of the sticky inflation, if you have 6% inflation for the rest of this year, maybe into early next year the federal reserve is raising rates i can't see the market standing up to that. >> you know me, i am an optimist and i will always find something. that's important if you are a long-term investor focusing on the innovation that happens in this economy. let me give you the collective wisdom. if you look at fed funds futures right now, the market -- stuart: which i really do. >> guys like me look at that
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stuff. we live and die by it but if you look at fed funds futures market where you think fed funds will be it suggests the fed will be done raising rates in february or march and only going up two percentage points, that is a lot. if the 10 year has moved up the two year has moved up, the market has done part of a to job. in plain english, we get 75 basis points, 50 in november, and than the fed might be done. it is possible we are within 10 weeks is a signal to the markets but the fed is done. that is contingent on inflation behaving and shedding signs. we are laying the groundwork but are not there yet. stuart: you are an optimist.
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you can come back anytime you like. bring back lahren who is looking at bank of america. lauren: next year if you've been with the company for 15 years you get four to six weeks, must be nice. they frame it like this, they are reinvesting priorities in life, recognizing your tenure and keeping your tenure. they don't want you to work somewhere else. stuart: four to six week sabbatical. lauren: depending how long you've been with the company. we went after 15 years that is pre-good. lauren: my neighbor is required to take a certain number of days off every year, she hates it but get a lot done. you have a long period of time when you are forced to do something you can't check your e-mail at home, nothing, completely disconnected. stuart: i am all for it. show me netflix. they are up 3%. mark marhaney is on the show frequent the. lauren: he upgraded him to
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outperform, stocks go to $300, the new advertising supported tier calls the catalyst. of the what if he has that kind of clout, if he can move the market he is on the show tomorrow, but him on. then we have apple. lauren: they have unseated tesla. traders made $18 billion of bearish bets tied to apple versus 17 or so million for tesla and tesla has title iv. stuart: i think i understand that. now this. florida governor ron desantis follows through on his promise to send migrants to progressive states, two planes of illegals just landed in martha's vineyard. take a look at this. food delivery robot rolls through an active crime scene. totally ignoring the caution tape and crowds of offices. we have that story. a new poll shows half of all the people who live in san francisco have been victims of theft, crime is out of control in california. caitlin jenner takes that on next. ♪
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stuart: iowa senator joni ernst leaving the charge to audit the irs, she says more than a thousand iris workers are not paying their tax bills. >> 1250 employees were willfully delinquent on those tax returns. they haven't paid their taxes. if we are hiring 87,000 new agents maybe we should make sure they are policing their own agency first. we won connell mcshane at the irs offices in maryland.
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who is going to audit the auditors? >> reporter: the inspector general has agreed to do it after the request from senator ernst who had a brief conversation with myself at the capital, or basic point of emphasis paraphrasing here is better figure out what is going on in your own house before you go after anyone else and that came from last time they took a look at the irs. this facility today, we just witnessed the treasury secretary janet yellen take a tour and have a chat with employees here, first time she toward an irs facility since she became a treasury secretary. i might point out she ignored our attempts to ask questions about the economy and then she came downstairs moments ago wrapped up a speech where the emphasis was on upgrades and technology, making the agency more efficient, they say the plan is to hire 5,000 new customer service
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representatives to make sure they answer the phone when you call. take a listen. >> during the most recent filing season, the irs averaged 10% to 15% level of service meaning answered less than two of every 10 calls. in this coming filing season we are committing the irs to an 85% level of service. this means over five times the number of calls will be answered. >> the secretary ended up speaking for 20 minutes and most of the focus was on this new technology and workers mostly in the it and customer service end of things. in terms of enforcement she repeated what she said many times now that the so-called rich, high income people don't necessarily pay what they owe all the time in taxes, new enforcement won't oh after
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people making $400,000 the year. audits go down is new technology comes online over the next few years, expressing doubt over that will be the case. stuart: that is where the money is. earlier in the show, we report startling statistic. half the people in san francisco say they have been victims of theft. longtime california resident, what is it like living in los angeles with the crime surge like this on a day-to-day basis. >> not good at all and nothing will change, let's start with san francisco, let's show what happened up there. the da, it all started top, the
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da, it was in recall, recall went through and he was gone. the mayor put in a new da, a girl named brooke jenkins, brooke jenkins was one of the loudest voices against bodine through the recall so they put her in there and at least a few charges, she's going to get a little tougher but her problem right now, she's going to be the da but also 54 days, in an election to stay in that position. it's difficult for her but she will charge as adults, in extreme cases, this is good because a lot of that is done by young people who know they will get away with it. that is the situation in san francisco lujan la, gascon was on recall and unfortunately it failed.
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i was shocked that it failed. he won't even try juveniles as adults. he won't prosecute certain misdemeanors, theft is legal in la and all the young people are doing it so to be honest it is a mess. stuart: need a cultural revolution. a school district in ohio is telling teachers that they have no obligation to notify parents of a transgender or transitioning students wants to be called by a different name or pronoun, parents are furious. >> what are we teaching our children? it is not your responsibility to worry about moral values. that is the parental right. you are treading on parental rights all over the place and also violating the constitution. stuart: what do you make of this? teachers don't have to tell
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parents what their children are doing in terms of gender. >> leave our children alone. i am so against this. to see what has happened to our educational system it started in 1979 with jimmy carter federal rising education in this country with the department of education and over these years teachers unions have become more and more empowered and emboldened to do what they want and to take the parents out of this. i am 100% for parental rights. i helped raise ten children. here we go, 21 grandchildren that are just starting into the educational process. i want parents to be emboldened. they are the ones that are in charge of their children, not the schools. i want schools to teach
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reading, writing, arithmetic, not gender pronouns and all of this, leave our kids alone. i look at my own life and if i would have been growing up in this environment, obviously when you are trans you have your whole life, i don't know where my life would have gone if i had been growing up in today's society with the teachers and the teachers unions having so much power over things. stuart: i am with you all the way. got to change the subject dramatically. rory mcelroy totally against live golf players competing in the ryder cup. i have said it once, i've said it a hundred times, i don't think any of these guys should be on the ryder cup team. i think you are a big supporter of live golf if i'm not mistaken. before you answer i've got something coming at me. we are learning that apple and amazon have joined the list of
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media companies which will not carry the live tournaments. and they get a tv contract? that's terribly wrong. >> from the business side of golf, isn't it getting interesting? this is getting better than what your handicap is. i have been a supporter of live because i've always been on the athletes side. the athletes the options. the pga tour is the one game in town, for so many years, the top athletes, i have nothing but respect for rory mcelroy. he is a phenomenal golfer, great human being. i love the guy. but on this case, being very vocal, i don't know if it is good because on the pga tour, the top guys, he just won the fedex championship, $18 million, the second fedex championship he won.
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they don't make any money whatsoever. live is another opportunity for the golfers out there and we need some competition. golf is going to be very interesting from a business standpoint over the next 4 or 5 years but i think they will work it out. stuart: hope you can help out. stuart: i am out of time. you can come back anytime you like, let's talk golf next time. thank you. see you later. here is what is coming up early this morning, busloads of migrants were dropped off at the naval observatory, steps away from the vice president's residence. griff jenkins was there and will tell us about the surprise migrant visit. these next. ♪
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stuart: a lot of migrant buses from texas arrived this morning at vice president kamala
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harris's residence in dc days after she claimed the borders secure. griff jenkins was there when the migrants arrived. >> reporter: governor abbott sent 200 buses with 8000 migrants to washington dc since early spring. this is the first time he sent two buses early this morning outside vice president's home at the naval observatory, take a look at this video, the two buses pulled up with 101 total migrants, 53 on one bus, 48 on another. there were families with small children as well as single adults, most of them are from venezuela. from colombia and nicaragua as well. having sent them outside harris's house, in response to vice president harris's the
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borders secure comments, we talked to one of the migrants who said that is not the case, the border is open. here's what he had to say. >> the border is open because we entered, we came in. >> reporter: it is open for you to come illegally? >> illegally. we see it on the news that everybody coming illegally so -- >> reporter: that is the message texas governor abbott wants to send, won't go to the border to see it. migrants of all left a few hours ago, local ngos got cars, took them to a church where they could rest, get some food and try to help them go to their next destinations.
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texas governor abbott said buses will keep pulling out of texas and is hoping he can bring some relief to his overrun border cities. stuart: you were there to see, excellent report. i want to bring in david weber. governor desantis has a sense of humor, he said playing roads of migrants tomorrow the's vineyard, the playground of the rich liberals, he has a sense of humor. >> he has a sense of humor and this is our target, who lives on martha's vineyard, donors, donors, to both parties to be fair live on martha's vineyard. of the airport was bigger i wonder if he could use a bigger airplane, more effective way of bringing a couple hundred instead of 5000 or 8000 over days which is a 2 day supply at the border and i'm glad he did it but combined with martha's vineyard, to barack obama.
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when you look at the naval observatory in front of the sheriff's side, her temporary home this is an important image for america to see this problem is not a border problem. it is in every state illegal alien problem. stuart: the white house has to stop this, not quite sure, almost a lie, to say to the media the border is under control, the borders secure when it obviously is not. >> 8 degree -- disagree with stuart varney, you and i debated and they are not going to stop, they don't have to stop, they are looking at a problem that becomes too big to fix over years and years come you heard harris's comments about we need amnesty, they are putting this out and they are not speaking to illegal aliens. what they are speaking to are the people that will vote liberal, vote for their ideas that are being pushed to follow democrat policies cover too big
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to fail, leftist policies, open border policies, achieving goals when they are in power. stuart: they should put up a better defense of what they are doing, to go in front of the world and say the border is under control, a busload of migrants on the front doorstep, you can't be doing that anymore. >> you and i get it and the average joe and jane get across america. i hope there's enough to keep their agenda going, when you realize people are different from the politicians and the political class, you see the difference. stuart: thank you for being with us today. i would like to hear you on the radio. i will show you some extraordinary video, uber eats robot drive through an active crime scene. it is yours. >> reporter: the delivery robot crashed the crime scene to went through the yellow police tape surrounding a high school in hollywood, la, there was a report of gunshots.
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it was a hoax. that didn't happen. the camera man policed the area, lifted the yellow tape. this is cool. the robot went somewhere i would have wanted to go. no? you don't think so? stuart: it was in uber eats robot. lauren: maybe they can use it in the future. >> can't resist. >> carrying doughnuts. i love police officers out there and it is actually that is all i've got. stuart: another one for you. than the videotape. lauren: out of the car, outside chick-fil-a. grabbed the keys and got into her car, and this is what ensued, the man who worked at
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chick-fil-a tackled the would be car jacaranda everyone else came to help and he fought the guy, carjack or was arrested and charged and everybody is okay and i hope chick-fil-a gives the worker something. stuart: tells it, well done. well done. >> speaks to americans and who we are. lauren: he went and rescued her. stuart: patagonia, outdoor, worth $3 billion, the founder just gave the company away to fight climate change, we explain. thousands of people will wait maybe 30 hours in line to pay their respects to the queen. for many she was a symbol of civility, duty, and response ability. dan heninger thinks society could learn from the queen's traditional values. dan heninger is next.
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stuart: that is westminster hall where thousands are lined up to pay their respects for the queen. some will wait up to 30 hours in line. dan heninger has a timely op-ed titled the countercultural queen elizabeth in the wall street journal and dan heninger joins us now. it seems you are saying traditional values like the queen's traditional values are the exact opposite of our own era of self-promotion. that's the essence of your piece today, isn't it? >> that is the essence of my piece and i wrote it because it
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was so striking that within an hour of the clean after death, commentators left to right were siding, admiring her personal traditional virtues of responsibility, civic duty, modesty, fortitude and i thought for one thing it is amazing some of these commentators remember those old virtues but it came amid a temporary culture that as you said is the opposite of all that. we live in and year out of tiktok, instagram, social influencers, self-promotion, self regard, self-aggrandizement. i took the admiration for the queen's virtues is suggesting a lot of people recognize the we live in and euro of extraordinary artificiality. and artificiality that creates problems for people, one of the great epidemics of our time is emotional anxiety. a lot of people take antidepressants for that.
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the queen's personal virtues, traditional virtues were a source of personal stability, they allowed her or anyone else from that era the possibility of leading an ordered life and doing good things hopefully and i would suggest maybe now is the time to reconsider bringing that back. stuart: i always thought the queen, embodying restraints, reserve, calm, solid. that's the opposite, much of today's culture let it all hang out, and aggressive. diametrically opposed. >> one more point. people used to learn these traditional virtues automatically and learned them through churches or schools, they faded, demoted and the reason is, and churches and
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schools decided to elevate, and social justice, inclusion, even the climate, and modesty, and personal discipline over their lives. so many institutions that inculcated people with these important practical virtues simply stop talking about them and it would be a great thing, they transferred their children into charter schools, parochial schools and homeschooling, they are trying to do that on their own now. stuart: great piece today, just great. thanks for joining us, see you later.
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october 17th, holding a special program in the 11:00 hour. we will have a live studio audience. you've got to register online. scan the qr code. you can submit questions you might want to ask, varney and show me the dow 30, since over the market, mixed picture with a lot of selling, 1/3 are up, 2 thirds are down. the price of oranges has jumped 14% in the last year where do you think ashley webster is? he is at orange grove in florida to tell us about the price hikes next. ♪
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stuart: if anything will put me in a good mood, it is good day sunshine from the beatles.
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lauren: is midway through september. there's a chill in the air, i . stuart: that is the florida keys, 83 °. you can indeed. orange growers facing a range of issues. inflation and something called the greening disease that has been devastating the crop for 20 years. look where ashley webster is, duet, florida, at orange grove in the relevant orange grove, how they are dealing with these problems. ashley: it is not easy, the life of a farmer is not easy but for the industry of orange grove's in florida it has been a challenge for some years. this is an orange here, in a month or so this will turn orange and they will start harvesting but you mention the greening disease, this is what they can do, they become
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smaller, misshapen, thinner, they have devastated the orange crop of florida. if you look at the numbers, we look at a drone shot if we can we are in west central florida. the amount of acreage has absolutely plummeted. around 375,000 acres, that is down 53% from 20 years ago. the number of boats disappearing, 2,007 there were 8000 growers of oranges, this year down 2500. i found a farmer, an orange grower in business name steve johnson, vice president of the florida farm bureau. how do you keep going? you've been affected by this greening disease? >> it is called resilience. we change our program hard, figure out how to grow things better and more efficiently but the biggest thing is sticking
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it out knowing we can answer that. ashley: there is no cure to this greening disease, 90% of the orange trees in florida have been infected. >> there is no cure but there are different ways to grow things and we are learning things each day, weather is changing the fertilize program altogether. >> reporter: will we pay more for orange juice? >> it could mean that but it also means we are growing a quality product the consumer wants. ashley: the oranges the simple on the state license plate. it is a huge industry that employs 43,000 full and part-time employees, it generates 2 or $3 billion a year but maybe california this year could eclipse florida with their orange production which would have been unthinkable a few years ago. gives you a sense how the crop
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has been devastating out how much a fight it is to keep it going. stuart: good stuff. back to you soon. the founder of patagonia is giving away his entire company. why is he doing that? >> he has always been proenvironment and i would say anti-capitalist at this point. he is giving his ownership to his collective, a trust that will use all the prophets, $100 million a year for climate change so investing in projects and organizations that protect biodiversity and wild demand. 's reasoning is they could sell the company but they can't ensure the new owner would have the same values or take public to generate more money but they say public companies are under too much pressure to make profit so they are giving up everything, their ownership, to a trust to invest in green dreams. but one he is allowed to do and he's doing it.
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>> they always had an environmental mission. stuart: we have tesla up $304 a share but are they changing the way they make their batteries? lauren: they want to get federal tax credits under the inflation reduction act. they planned to expand their german plant and reports are they are not going to do that. they will not make that expansion because they want to move it here to the us because the government provides tax credit of $35 per kilowatt hour for each us battery sold, the most expensive and most important part of the ev would lower the price we pay as consumers and it is when/been, consumer credit that you get. we one makes business sense, stock that $3.04. trivia, how old was george washington when he became president?
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i got tai last december. i've spent almost every minute with her since. when i first brought her home, she was eating little brown pieces in a bag and it was just what kind of came recommended. i just always thought, “dog food is dog food” i didn't really piece together that dogs eat food. as soon as we brought the farmer's dog in, her skin was better, she was more active, high-quality poops. if i can invest in her health and be proactive, i think it's worth it. see the benefits of fresh food at
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stuart: all right. earlier we asked how old was george washington when he became the president. you want to have a guess at this? >> 52 years old. stuart: i would say 57. not that i know. there i am. the answer is 57. >> i should know that. i went to george washington university. >> please, please.
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don't forget to send in your "friday feedback." you can send in your "fan friday" videos. fan fried. neil: fell us where you're from, tell america you're watching "varney & company" and say that. if you're not awfully careful you will be on tv watch out sports fans. time is up today. lauren, thank you very much. neil, it is yours. neil: thank you. the rail strike is averted that would normally prop up stocks. more on what is dragging down stocks for another day hire. the big selloff earlier in the week. we yet to make up the ground even close. on this settlement or proposed settlement here. remember it is not a done deal until everyone votes yea on it. marti walsh, the labor secretary of the united states obviously what in the end cinched that


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