tv Varney Company FOX Business September 20, 2022 11:00am-12:00pm EDT
>> the reason why it was so important to send illegal immigrants to martha's vineyard in dc and new york and chicago is it illustrated the utter hypocrisy of democrat politicians. >> liz truss running like margaret thatcher, more fracking, enterprise zone, it is a growth budget. >> don't know what the plan is from the fed to, quote, stop
inflation. they are going to crush the economy what they are doing isn't working and isn't going to work. >> a bunch of people won't come back and say they can't admit it is only 10% of people going back full-time. it will take people a long time to forget how bad the pandemic was. shops are shuttered. small businesses are gone. ♪ stuart: 11:00 eastern time, tuesday, september 20th, that is the statue of liberty. to the markets, we still have a ton of red ink, the dow is down 335 points, it had been worse, down 75 on the nasdaq, it had been worse, big tech earlier this morning was all down, where is it now, mostly down, the only winner is apple, struggling to get back to one hundred 55, the story of the
day, interest rates not just from the fed tomorrow but what is happening with treasury yields now, the yield on the tenure above 3. 5%, that hurts big tech, hurts the nasdaq, 3.59% on the 10 year treasury. now this. for 12 days the british mourned and said farewell to queen elizabeth. they planned for years. on minutely detailed schedule was put in place the moment her doctors signaled her passing was imminent, that was thursday, september 8th. from then until now it went perfectly and that in itself is remarkable. everything was tied to the minute if not the second. we in the media were given the precise time for every part of the day and the planners got it dead right. for example the queen's coffin would be moved to westminster abbey -- abbey at 10:40 a.m. . not a minute early or late.
during rehearsals they measured every step royal navy sailors would take. imagine organizing just the uniforms and costumes that miraculously appeared all cleaned and pressed the moment the queen's passing was announced, thousands of marching soldiers, millions of people watching from the streets, 500 dignitaries and the new king of england all had to be coordinated to be in the right place at the right time and it worked. now they started planning charles's coronation likely to be next summer, probably in june when the british weather is supposed to be at its best. third hour of varney starts right now. kennedy is with us this morning. the rows between two thorns.
>> two roses, one foreign. stuart: i thought the planning and execution of the queen's funeral was remarkable. everything was perfectly timed and it worked. i was impressed. >> i was deeply impressed and i'm invested in her life story not only as a fan of the crown but i've been reading biographies about the queen in various movies like the queen that came out several years ago after diana's passing, she's more intriguing pop cultural phenomenon and i am one of those people who wanted to learn more and more and pay my respects to her by watching the proceedings in their entirety and i got up at 5:45 and it truly was not only like clockwork about the sentimentality being able to feel something and be that completely satisfied with these proceedings and getting the since you knew somebody and their passing meant something that is a difficult thing to do to create that emotional connection but we don't talk
about our funerals, what we want and i think we should and people knowing the queen planned every detail maybe that will encourage them to imagine what they want their sendoff to be like. stuart: i said on the air yesterday i was sorry i had not gone back to join the queue and watch the funeral. i've not been back in london in 30 years, not been back in england in the last 50 years except a couple funerals and i wish i had gone. i regret that. i should have paid my respects. maybe i will go for the coronation. >> i think we should do some fbn coverage because we would rocket and bring good party people what they want. of the one i might just want to go on watch as opposed to work, that is the way i am. let's change the subject. the new york times reports jen z folks are turning to tiktok instead of google to look up information, 20% of the videos
on tiktok we are told contain misinformation. you've got teenagers. are they on tiktok? >> they are, they consume their news mostly from online sources that are geared toward people of their generation. i wish they would watch fox business, that would be wonderful for them. of the when they are not trying to figure out what the fed will do tomorrow. >> where is the 30 year treasury? i am looking at the long bond. they are not saying that yet but we are getting there but this is how people consume information, i thought 20% was an astonishingly low number of stories because cnn, 65% of their stories contain -- stuart: what is the misinformation? >> exactly right. misspelling? is it a statistic that is a couple points off? or is it complete propaganda and have american teenagers been infiltrated by the chinese
commonest party. stuart: how can you have teenagers in america or any other western country and keep them off social media? you can't do that. >> it is a fools errand and if you are think you're you're doing it they are getting it from someone else, they spend 8 hours a day in school except for kids who are homeschooled and they have access to their friends devices so the thing you have to do is be a filter, you have have conversations with your kids. ask them questions. have them tell you what they are interested in and how they are getting information. you would be amazed. i would love to have a roundtable with teenage girls talking about social media because i think mark zuckerberg would fall into apoplexy. he would be so terrified that facebook is not cool, twitter is for old people, even instagram, my unjust daughter called it tiktok for old people. stuart: quick question. what age would you have your
children get a smart phone? >> 12. stuart: 12 is your cut off points. i'm asking you, lauren, at what age would you give your children a -- lauren: i still have a few years. i'm hearing 10. >> when you live in new york in big cities you want access. >> they set up the controls so kids can't -- >> can i tell you something funny? kids get in trouble for texting in class, a teacher told my sister-in-law all the texts are coming from their moms. do you have your lunch? do you have cracker jacks in school? haven't heard from you. be when you want to comment on that? >> can i share quicksort? i broke down in a brand-new vehicle outside mechanic, could not get the car into drive, the mechanic comes out into the intersection, trying to fix the car, no one can fix it, they can't put it in neutral, the cops come, staying with me, the police officer is befuddled and
b willard, he goes on tiktok and figured out how to get the car into neutral. stuart: there you go. that is pretty good. the brand-new car broke down. stuart: we won't ask what kind of car it was. wasn't a rolls-royce. we are going to be watching you on kennedy tonight at 7:00 p.m. eastern on fox business network, thank you. check of those markets please, reading is there, down, getting a bit better, down less than 300 points, that is an improvement and the nasdaq is down only 50 points, some improvement, mark avalon joins us now, welcome back, you know what i'm going to ask you, why put money into stocks right now? >> i would hesitate with all the uncertainty but the short
answer for why would be because you are a very long-term investor, we are at the length of a historic bull market in duration and down 20%, the typical bear market is 30, most of the damage has been done and if you are looking three to five years it may make sense for a lot of investors but today is about caution. wait until we get clarity from the fed and earnings and inflation. stuart: i don't know if i have asked you this before but i will ask the question i have asked for a lot of folks on the show. what is wrong with me buying one year treasury today, holding it to maturity, getting 4. 08% interest with a small tax rate? what is the problem with that? >> there is no problem with that for money that is short-term and for a portion of your assets that should be located conservatively it beats the bank rates because i went to the bank and asked how much
will i get in the money market, they said 0. 2% so if you have short-term money and you want to buy a treasury for 4% i'm not going to argue with that. of the one glad to hear that because a lot of people do argue with it. mixed opinion on this. thanks for coming on the show, difficult day, we are down but coming back a little. see you again soon. thank you very much. some stocks moving big time including nike, major-league stock down 3. 5%. %. we won barclays cuts them to equal rate, you have a lockdown's there, the chinese consumer use to idolize nike like they do apple but more supportive of domestic brands, nike has too much inventory, what is bad for nike. stuart: take two interactive is down big, not that bad. lauren: on the upcoming grand theft auto, us consumer
spending on videogame hardware, content, and accessories fell 5% in august from last year. stuart: all the gaming stocks, or at least most of them, this is all about macau and covid restrictions being lifted. >> china's government issued draft rules aimed at making it easier for foreigners to come into enter china and visit places like macau so all of that is more money coming in potentially. stuart: thanks lujan new study shows most companies can transition to a four day week without losing productivity. in fact nearly half of those companies saw productivity improves, good story and we've got it. the war in ukraine set to dominate the conversation at the un general something, will president biden blast vladimir putin? when our president speaks, i sure hope so. a new record just set at the southern border, 2 million
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millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $30 per line. there are millions of happy campers out there. and this is the perfect time to join them... add a line to your existing plan, or see for yourself how easy it is to save by talking to our helpful switch squad at your local xfinity store today. stuart: more than 2 million illegals have been apprehended at the southern border this fiscal year. bill, you just got new numbers about how many migrants are on the terror watch list. what do you have?
>> reporter: exactly right. the numbers are startling. if we pull up this graphic we will get into it. cvp reporting last month in august alone there were 12 arrests of individuals on the fbi at terror watch list on the southern border bringing the total for fiscal year 2022 to 78 of these terror watch list arrests so far, that is triple the previous five years combined from fiscal year 17-21 there were 26 of these arrests, we are at 78 and have a month to go. other cvp reporting data, look at this graphic, cvp reporting august there were just over 203,000 illegal crossings at the southern border, bringing the total to over 2.1 million, the highest number ever recorded in a single year crushing last year's record, said the previous record at 1.7 million, we are now well past that.
than the gotaways, 2.1 million number does not count for half-million gotaways. when you add that up with last year's numbers, more than 900,000 gotaways at the post southern border since the beginning of fiscal year 2021, population bigger than the city of san francisco. look at this video we shot in eagle pass, mass. illegal crossings as the del rio sector remains the busiest, the democrat sheriff of bear county announced launching a common investigation, florida governor ron desantis transport migrants from texas to martha's vineyard, migrants were lord, this investigation is not going to be political. every migrant signed a consent form, it was all voluntary, homeless and living on the
streets, given hotels and accommodations before the flight. listen to what the sheriff and governor had to say. >> what i can tell you is it is wrong from a human rights perspective. what was done to the spokes is wrong. >> they were destitute and put in a situation they could have succeeded but that was virtue signaling and not only did they not welcome them but deported them the next day with the national guard. >> reporter: governor desantis's office shot back that this last june it was his jurisdiction where 53 migrants died in a horrific mass human smuggling incident where they baked to death in the back of a trailer outside san antonio. stuart: who could forget that? tom homan joins us now.
2 million migrants across the border this fiscal year. my question to several guests has been why can't these migrants work? they shot me down saying they encourage more to come. why can't they work? >> shouldn't be allowed to work because you encourage more. this country has shown over and over, if you come to this country illegally which is a crime, you hide out long enough,? amnesty, this is why the cycle has never ended. donald trump had real consequences for entry, illegal immigration -- let me tell you why that is important. i have been doing this for 35 years. when we encourage illegal
immigration you have 1300 migrants have died on us soil since president biden became president, 30% women sexually assaulted, pulling babies out of represent 50 people in a tractor-trailer, and get released, but rewarded on the road but it is up to congress to fix immigration system. just before they had the sarah program, get congress to fix this once and for all but not just accept illegality and reward it because it costs lives. stuart: a good point. i want to talk about your new op-ed mad about migrant flights, open border liberals should look in the mirror to see who is breaking the law. are you okay with migrants being flown around the country were not?
>> i'm okay because they volunteered, what governor to santos, this is donald trump's idea, we never had to do it, why secured the border, transporting, what they have done, put this story on the front page of the newspaper. your show in this network, the only network talking about it. half of america doesn't know there's a border crisis. what they have done is appear in a national conversation on what is happening, why this is happening and we need to fix it, to address it. a secure border saves lives, they created a national conversation. here's the issue. they are going to chicago and new york. new york's rates cover three illegal immigrant populations because you drive places and get a job in new york city fighting the immigration case, why would you go with all these benefits.
the hypocrisy of politicians, when you give them people, they are dealing with a small fraction. stuart: they are putting them on cruise ships in new york city and giving, stipend as well. sorry we disagree, you are convincing me. tom homan, you are all right, see you again soon. what is this about some companies wanting to hire refugees? ashley: major us companies pledging to higher 20,000 refugees as part of a program called the tech partnership for refugees aimed at integrating afghans and ukrainians who came over. government data shows 80,000 afghans arrived in the us while 150,000 ukrainians were granted
entry. they are not allowed to work but those companies, amazon making the largest batch, 5000 refugees over the next three years. hilton and marriott pledging 1500 refugees while pfizer said it would hire 500 refugees. be one that is only afghans and ukrainians, not folks who come across the southern border, that is different kettle of fish. ashley: a different story. stuart: protests breaking out after a woman dies in police custody, she was arrested for violating the dress code. protesters are demanding death to the dictator. a new poll shows more people are concerned about the socialist left than maga americans but you will never hear that from the president. morgan ortagus will take it next. ♪
are down 320 on the dow, down 320. we are watching the travel stocks. lauren: norwegian cruise lines, calling it a by, noting positive trends with luxury cruises and worth $19 according to truest and the entire sector, airlines, united and delta, talking about covid restrictions in hong kong. stuart: here is a story i'm interested in because there is background to this. it is a good one. >> stock hit a record low, because of the bad press and bad pr from charges from chief operating officer and executive
to buy a man's knows after college football game. the stock, looking at the peaks of 230. and at $16 ipo to 25. blue when you get the irony beyond meet, allegedly bites the nose. and control your laughter. definitely -- shall we move on. >> hungry for lunch. stuart: elon musk provided a deposition in the twitter case. lauren: pausing to interject. this will not be pay-per-view, morgan has met elon, so giving a deposition behind closed
doors, and the what the judge decides, starting on october 17th. tell me what you think, tesla stock, was hit this morning. stuart: tesla isn't nicely higher, good stuff. the un general assembly kicked off in new york city, connell mcshane is there, a lot of people hoping our president goes after vladimir putin. what do you say? >> reporter: you can count on that. the war in ukraine, how we continue to pay for it. it is it is a huge topic it already is. the president of ukraine, president zelenskyy, will speak
tomorrow, giving an exemption to a new rule they have, they are in person, already being asked about the canadian leader and justin trudeau said there's a lot of work to do. from the united states, which was already provided 15 billion in aid to ukraine, 600 million more has been announced and the way president biden was speaking about it on 60 minutes. seems there's more where that came from. >> you are north of $15 billion, how far do you go? >> president biden: as long as it takes. >> ironclad commitment. >> president biden: yes.
>> reporter: senate majority leader chuck schumer wants $12 billion, necessary to defeat the russians, he expects bipartisan support for that and we will need it, 10 republicans in the senate. the secretary of state today, anthony blinken has already had some meetings set up ahead of the president's arrival tonight, secretary-general, and has already spoken to the general assembly. a number of leaders, brazil and turkey, france, have or will speak in the morning session, germany, it will he, japan, that is leading up to president biden tomorrow and we will see how tough he is on ukraine a day later than planned. stuart: thank you very much. let's turn to iran, protests breaking out after young woman dies in police custody. she was arrested for breaking a dress code. morgan ortagus knows a lot
about this area of the world, is this a serious revolt? >> it is on the verge of becoming one. in fall 2019 a lot of us see similarities to that protest. i was state department spokesperson at that time. it is hard to know these numbers but we think 1500 people, peaceful protesters, and in 2019, ten thousand arrested. this is an organic movement, what you are seeing is a young woman refusing to wear the head scar for the veil, killed by the religious police for it, people are enraged by this, attacking government buildings, looking at iran, starting to turn off internet around the country so when they do that, that is a key indicator, they are starting to get worried about these protests. stuart: could be further. >> took the secretary of state 72 hours to make the statement, that is not leading the reform policy. stuart: moving on.
more americans concerned about the socialist left than maga republicans. i call that good news for republicans but what might be bad news is the latest fox news power ranking shows are publicans likely take the house, democrats gaining momentum and now have a pathway to victory. i republicans rightfully getting nervous? >> i'm not hearing nervousness. we saw this in 2016, the quiet, the underrated voter that may not answer. blue when the shy trump voter. >> 70% of the country says the countries on the wrong track, people paying $460 more a month for basic necessities and they were a year or two ago and when you look at the top three things voters care about. the top 3 things are inflation, jobs, the economy, immigration,
these are things biden and his team are weakest on. stuart: they want to make it about trump and abortion and so far they have leveraged those issues. >> the biden strategy is cynical, to make americans enemies, to say your fellow americans if they vote for a republican are against democracy, against the american way and trying to make fellow americans an enemy for who they work for is disturbing and scary and dystopian. stuart: the unifier is the great divider, that's my opinion. >> i missed that. stuart: sarcasm is a low form of wit, very useful. florida governor ron desantis raised $175 million for his reelection campaign. now the governor is hitting the road in a bid to raise more before the midterms. we will deal with that next.
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>> if you like what i stand for then give me your vote on the eighth of november ♪ district 12 me the choice ♪ let me be your voice ♪ linda paulson ♪ linda paulson ♪ stuart: that was linda paulson. she is a grandmother running for state senate in utah, getting a lot of attention for that campaign video which has been seen millions of times on twitter. some people are plotting paulson for her creativity and others are marking her and demanding to know if it is a big joke. governor ron desantis shattering fundraising records. i'm hearing he pulled in $175
million. is that accurate? ashley: a little more than that. as of september 9th governor desantis raised 177.4 million for his reelection campaign, a record near tween 9 times the amount his democratic opponent charlie crist has recorded who has 20 million. with 49 days to go before the election desantis's campaign approach has been unconventional. he spent time away from florida, new mexico, ohio, wisconsin, pennsylvania, the freedom agenda hits the cord with the conservative base. and the crisis at the southern border. >> criminal aliens across the border and those commonly alien's then victimize american citizens, do you ever hear
anything about that by these folks, they want open borders, they want you to deal with the open borders, they want to be immune from the consequences of these policies. ashley: as desantis continues to comment on washington politics, on a potential run for president in 2024, the gop strategists say, the campaign rallies are putting it down. >> what desantis is doing is brilliant, building inroads in texas, and showing he's taking action in a way most others aren't. ashley: political strategists say the florida governors trying to win over donald trump's supporters without taking on donald trump at least
for now. ashley: stuart: well put. a lot of companies testing the four day work week. how is it working out so far? ashley: pretty popular. the four day work while working, pilot programs underway in other countries around the world and according to a survey by four day a week global, 70% of managers, 70 uk companies shifted to 4-day schedule so their transition was good or seamless. only 2% found it challenging, 88% say four day schedules were working well. nearly all participating companies in the uk, 86% say they will keep the 4-day schedule, after that. 49% said the productivity improved and 46% says it remains stable. can you say three day we can?
stuart: can you see a politician saying vote for me and i will give you a 4-day week? i heard a grocery store chain that i know very well, ditched its self checkout apps. ashley: customers can scan and apps, check registers, and limited interactions between shoppers and store workers, the technology made it easier for shoplifters to sneak by without paying, the east coast's supermarket chain says it has to stop using the self checkout apps until the system can be improved because they are experiencing losses. other retailers including kroger said they are dealing with a spike in theft. analysts say it is increasing because people are facing tighter budgets and inflation, companies in stores and big
cities dealing with a lot of crime hiring more security guards and locking up there theft prone products. stuart: a miserable sign of the times. there is a new index bum, a message for corporate america. focus on your own mission and not someone else's social agenda. vivek ramashwami helped launch this fund. he is next. ♪ you can go your own way ♪ go your own way ♪ you can go ♪ ♪ because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company.
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stuart: you want to hear about this. megan markel has requested a one on one meeting with king charles before she and prince harry head back to california. speculate, why would she want this meeting? ashley: speculation is she's trying to clear the air after all the events of the last 11 days, she wants to head back to california with harry and perhaps on better terms with the king. she wrote a letter which is the correct protocol. it is not known whether charles
will take the time to meet with her 1-on-1. it is reported by an entertainment reporter in the uk who has been a long time royal watcher, he is very well connected. gave training to william and harry on how to improve their media image when they were younger and i'm sure it is true but the point is megan markel and harry, but royal family is nervous whatever they say in private ends up in a book or on oprah winfrey. interesting to see if charles himself decides to go ahead with this but on the other hand it is a brave move by megan markel to clear the air. stuart: it could go either way. i will change the subject. my next guest just launched a new index fund, the strive 500
etf, it's goal is to use shareholder power to build up meritocracy in the us. vivek ramashwami is the man behind this fund. explain this to me. how do you use shareholder power to bring back the american dream, meritocracy? >> a lot of what happened in the last few years is shareholder like black rock, state street and vanguard foisted anti-american policies on american companies. one example was apple which a doctor racial equity audit after shareholders pressured the company to do so including black rock, my view is companies like apple shouldn't focus on racial equity audits, they should focus on hiring people based on merit without regard to race, sex or politics. to the point this new fund we launched today, the strive 500, to deliver that voice to
corporate america, corporate america's boardrooms, to focus exclusively on excellence over politics and when it comes to hiring go back to focusing exclusively on merit and i am proud to say that was the subject of my shareholder letter to apple's board of directors and there is a separate letter to disney's board that i hope is the beginning of a broader conversation in capital markets. stuart: the fund only invests in stocks which you believe or companies which you believe are in favor of meritocracy. >> not quite right. it is an index fund, it invests in 500 of the largest us comedies, not about stock selection but engagement, bringing a different shareholder voice and vote to the table and that in my view is a real way to drive cultural change because right now many
of the largest financial institutions are delivering the pro esg agenda. my view, focusing on products, that's what i call driving change from shareholder engagement, not divestment. stuart: with you all the way, interesting development. vivek ramashwami, out of time here but come on back and explain this to us. right on the vanguard of a movement which is very important, we will see you again soon. you know what is happening now, 11:59, the tuesday trivia question. i should know this as a citizen, newly minted, i should know it. how many people signed the declaration of independence? 26, 45, 56? what is the answer to that, don't look it up. can't figure it out without looking it up correct answer after this.
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- call the number on your screen. - look, why don't you call aag and find out what a reverse mortgage can mean for you? - [announcer] call aag, the country's number one reverse mortgage lender. - call the number on your screen. stuart: come on america, you should know this, how people signed the declaration of independence. ashley what do you got? >> i was going to go 26, two from the original 13 colonies. that doesn't sound very much. go the opposite. 56. stuart: really? i'm doing 32. the correct answer, you got it, ash. 56 people signed the declaration of independence. john hancock was the first and apparently the largest signature. that is why they say put your
john hancock on it i guess. >> oh. stuart: ashley, you knew it. i got it wrong. pathetic really. >> it was guess. stuart: thanks for the help. you were good on meghan markle sending a letter to king charles. you speculated on both sides of the fence. you're a diplomat. i guess i will see all of you tomorrow. i will see all of our viewers tomorrow. meanwhile, here's neil. neil: surprised you forgot that. you and i were covering. you were for the british press. how time flies. corner of wall and broad we got a selloff. you know the drill little more than 24 hours from now. we know higher interest rates. we don't know exactly higher. consensus is 3/4 is of a percent. by the way sweden raised a