repeated four times to the same person. so it's hard to see that split. >> trace: david spunt live for us. we'll get back to you. thank you. well that is "the story" of tuesday, october 18. as always, the story goes on. be sure to join me for america's late news. we're talking about fox news at night, 12:00 eastern, 9:00 pacific. "your world" with neil cavuto starts right now. >> i disagree with president biden when he's talking about relaxing some of the regulations done on the border. i completely disagree with that. >> i've not spent a minute thinking about what politicians should run for what in 2024. >> i have stood up to members of my own party and to the president because the president wants to lift this program called title 42. i believe he wants to do it prematurely. >> neil: all right. the debate over debates. do they work? do they move the needle? some democratic candidates seem

to be distancing themselves from the president with three weeks to go to the mid-terms. it's all happening on the heels of early voting. are these debates then changing things the way we see them developing now? welcome. i'm neil cavuto. very glad to have you with us. my friends, we'll be giving you the latest impact on the debates themselves. let's get a read from how the white house is handling so many democratic candidates and maybe many at the white house itself on defense throughout this. peter doocy is there. hi, peter. >> neil, like you said, lots of changes. in these state level debates, we haven't seen a ton of democrats warmly embracing president biden. more so his policies, but not really the president himself. that could change. we've been noticing a difference in the way the white house is talking about priorities. a couple months bag, president biden told us his number 1 domestic priority was inflation. now we're told that is his number 1 economic priority as

his focus starts to shift a little bit with this new promise to put forward a new law, protecting abortion access if democrats can just add a few more seats this november. >> if we do that, here's the promise i make to you and the american people. the first bill that i will send to the congress will be to codify roe v. wade. >> those remarks were delivered here in washington d.c., not alongside vulnerable incumbents or democrats hoping to flip red seats an economists at bloomberg up their chances of a recession. something that white house officials say they don't see happening. >> he's been working on the economy every day for 19 months. now bloomberg economists are forecasting a 100% chance of a recession. so how is it that we can be barrelling towards a recession and the economy is as the president says strong as hell? >> so here's the thing about the

economy. job market is strong. the labor force is strong. and that is not what we see usually before a recession. >> exactly two weeks ago, we were told not to expect any more releases from the strategic petroleum reserve. now there's various reports that 10 to 15 million more barrels might be coming out to lower gas prices ahead of the mid-terms. karine jean-pierre did not offer details. she says the president will do that and talk about gas prices tomorrow. neil? >> neil: want to go to tom bevan, what he makes of this. the real clear politics co-founder and president. first on this issue of so many democratic candidates on defense not on the economy but you can extend that to the illegal migrants and the general inflation news to say nothing about how things are faring with the great russian threat, the

china threat, a lot of threats what do you make of this? >> well, the data is clear on this, neil. it has been a long time. the economy and the inflation is the number 1 issue on the minds of american voters. that includes republicans but also independents. the problem the democrats find themselves in is they have put all of their eggs in the abortion basket. they are running -- if you look across the country, the ads are running, the mailers going out are exclusively on abortion and protecting woman's right to choose. that has had the effect of firing up the democratic base. that's certainly something that the democrats need. they need a motivated base to turn out. but it is also put them in a position where they're not speaking to the number 1 issue for independent voters. it makes them think that democrats are out of touch on that issue. we saw raphael warnock address this yesterday. michael bennett on tv fielded a question on the inflation reduction act on sunday. he didn't have a good answer.

so democrats find themselves struggling on the economy, on inflation when it's clearly the number 1 issue on the minds of voters right now. >> neil: in these debates and the fact they're so close to the election itself, three weeks away and early voting in effect here, someone like a nancy pelosi urging democratic candidates to do whatever they have to win even if they're criticizing replacing the old guard. whatever it takes. what do you make of that? >> well, just -- the democrats are fighting an uphill battle. look at the fundamentals of this election, $4 gas, inflation, joe biden's job approval rating is in the high 30s, low 40s. history tells us that the out party -- the inparty suffers in their first election. tim ryan in his debate with j.d. vance running away from joe biden. mark kelly did it in his debate.

raphael warnock, all of these democrats are trying to give the signal to voters that they're independent, they will stand up to their own party. the problem is as republicans are pointing out, they voted with biden a majority of the time, most of the time on a lot of these issues and have touted the legislation that they passed. the problem is that has not helped improve the economic circumstances of folks. inflation is raging and gas prices are up. that's what people are seeing. >> neil: you hit the nail on the head, tom. one of the things that has come up when we explored this on fox business, which if you don't get you should demand. one of the things that we've discussed here is this idea all the promises in the world and teasing the benefits of the inflation reduction act won't do any good for americans that are reminded every day that go to the store that prices are still stubbornly high. all of these fed hikes that have seen rakes quadruple over this past year and by the end of the

year with rates to come maybe quintupled and not anything budging. so the president and others clinging to the job situation says things are better, the foundation is good. i wonder if that is not actually angering more americans than helping. >> yeah, look, it's understandable the temptation to take the news and spin to it the best of your ability. the problem is that while you can tout low unemployment and the like, that is at odds with what folks are feeling in their every day lives. democrats find themselves woefully unprepared to address the issue. they should have been ready for it. it's been clear for months this is what voters want, most important to them. democrats are left stuttering and saying the benefits, you'll see them next year. the white house press secretary said that the other day. that's not going to cut it.

it's not good enough for the voters going to the polls already. >> neil: it was a different race, different time. but when george bush sr. ran against bill clinton and said we were coming out of the recession and that was hurting him in the polls and lost him the election, he was right. we were coming out of it but it was too little too late to help. >> a lot of times the cake is baked as they say in the second quarter of an election year. so when views harden among voters, particularly in the post labor day period. we've had a few weeks here. what they've seen is gas prices going up. that last inflation reading was as bad as it's been. so voters have made up their mints what they think about the economy and who is responsible for it. >> neil: thanks, tom. if it's a case of democrats potentially, still a ways to go, peaking too soon, did they put

too many emphasis on this roe v. wade reversal out of the supreme court? that was supposed to be the wind at democrats' back particularly with female voters. early indications are right now that it's not got the same gust as it had. among independent women swinging to republicans, that's not the issue galvanizing them but more of some of the meat and potato issues. let's go to the democratic strategist and the republican strategist. noel, we'll begin with this notion to try to look at a group of voters, like women, for example, and assuming that the abortion issue would galvanize them and bring out the passions, it's not so far panning out that way. three weeks from now could be different. your thoughts. noel, can you hear me? >> yeah, yeah, i can hear you. sorry.

you know, i think that they put their eggs in one bask. all you have to do, the argument is made by the grocery stores, the gas stations and by a whole litany of things tied to the economy. people's 401(k)s, people watching the market, housing crisis, with interest rates. so even though abortion is a big looming subject, the issue for the democrats when female voters go to the polls -- this is why a lot of people are undecided as well. that's one issue versus a whole litany of other issues that are day-to-day they're dealing with. they're dealing with inflation day to day. i think that that is going to outweigh and that's why you'll see as the senate races and house races get closer and closer, it's going to probably resonate with the female voter even more so than that one single issue that the democrats have put all of their -- all in

for that. >> neil: you know, joanna, we tend to focus on when the voters -- the ones we're honing in on here are independent voters and where they stand right now. if there is even the slightest of shifts to republicans, does that concern you that maybe the bang for the buck that they would come from the roe v. wade reversal is not coming? >> look, neil, i get tired of this idea that abortion is a women's issue. my understanding of having a child, of which i do, is that it takes two to tango and that there are multiple people -- >> neil: if you let me write that down. two to tango. got it. go ahead. >> two to tango. it just is -- it's cast as a woman's issue. >> neil: that's what many in your party were saying. they were hoping for that, right? >> i'm tired of both parties making it an issue.

americans don't actually want the government in their bedroom. they showed that in kansas. however, when we're looking at mid-terms and we're looking at poverty across america, where people can't afford to eat, they're looking at the candidates closely and asking who is making the right decisions? i think absolutely these debates matter. if you look at a debate with tim ryan and j.d. vance, tim ryan was making the case for the american economy and why we need to make these investments, which shouldn't have been called the inflation reduction act. should have been called america's energy security. whatever we called it, it does counter balance the weight that china is putting in to -- >> neil: it's not helping right now, right? people are ticked off right now. >> absolutely. absolutely. absolutely. >> neil: promising that things will get better and this is the means by which it will, it's not panning out. >> yeah, the republicans don't have a solution.

they spent, spent during covid relief. bret baier was asking steve mnuchin about what is happening and why isn't there inflation happening. they said covid will be good for the economy. i don't -- >> neil: this is the debate right now with the president in control. the moment now. we can talk about republicans and a lot of their plans that might or might not plan out. it's hurting the party in power. looking what's going on in england. because you promised tax cuts but you don't find a way to pay for them, you can lose a lot at the polls and support for your own government. they might repeat those sins. having said that, do you think republicans should be much more specific? >> well, i think that you can look at our past record compared to what's going on with the democrats right now. because we were energy independent when we had republican leadership. we had better situation on our

taxes, we had a lot more benefits than we're seeing what's happening now. so i think you can -- we have an immediate history that we can look back on. so when you're a voter, when you look at that, you can say am i better off today than i was under republican leadership. >> neil: your party was no stranger to spending as well, right? even before covid you were running on massive debts. >> we were. that is a fact. you're right on that. but it looks like both parties are spending. the thing of it is, what you're looking at from a voter's point of view, what is better for me as a voter. all i'm concerned about is myself and which platform benefits me the best. as we're looking and things are shaping up, it looks like the economy is up front and center. that's going to be the republican platform. >> neil: it can cut both ways. noel, joanna thanks very much. meantime, one of the issues that joanna touched on is what

democrats might be cooking up right now to ease some of these inflation pains in real terms that is an idea that we supposedly see fleshed out tomorrow with the president might tap strategic petroleum reserve yet again. aishah, what are we hearing on that front? >> hey, neil. the only thing we're hearing right now on the record from the white house is that the president, yes, indeed is going to talk about gas prices tomorrow. his solutions to bringing those prices back down for consumers. just 21 days before election day. we're going to give you an idea of what options might be on the table coming up. it seems like things are falling apart lately. the economy. the market... everything. but upwork lets you strategically hire talent to weather all ups and downs your business might go through. look at all that talent. ♪ the innovative new hisense kitchen suite is only at lowe's. featuring ranges with built-in air fryers.

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>> neil: i'll prices have been deteriorating of late largely on fears of a global slowdown. the president wants to release more from the strategic petroleum reserve. aishah hasnie on what we might see as soon as tomorrow. aishah? >> we're going to see the president come out and talk about gas prices and his plan to reduce those prices. but today reporters tried to press the white house press secretary on what exactly that will look like. the white house playing coy on the details.

watch. >> we're going to make an announcement tomorrow. so i'll let the president speak for himself and announce -- make his announcement on what he said last week, he would have more to share on what he's doing to bring gas prices or what he will continue to do to bring gas prices down. >> okay. didn't learn a lot from that. bloomberg is reporting that the administration is inching closer to releasing more oil from the strategic oil reserves to the tune of about 10 to 15 million barrels. it's not a lot. critics say it's a drop in the bucket when you consider how many oil is being consumed every day. on top of that, the president could detail how he plans to refresh the petroleum stockpiles, this is very important. it is at its lowest point in nearly four decades. not good. finally a very big question, will the president announce a fuel export ban. domestic refineries are bracing

for that news. although the white house a again did not confirm that today. this all comes as the average price for unleaded is now sitting at $3.87 a gallon. that is down from two weeks ago, but still higher than it was last month.also, in the coming days, some democrats believe the president could take action against saudi arabia for opec's decision to cut oil as they blame the kingdom and practically everyone else on the worsening energy crisis. keep in mind though, all of these potential moves come as new provisions from the left's inflation reduction act increased taxes on natural gas and reinstate approvoutly lapsed tax on crude and imported petroleum products at 16 cents per barrel. not surprising that we'll hear from the president tomorrow, 21 days ahead of this big election. according to a fox news poll, about 53% of voters, neil, are

not happy with the way this president has handled the energy policy front. neil? >> neil: the dow was racing ahead today 337 points largely on declining energy prices. oil drops because many are seeing the whole world in a growing recession right now. that will hit demand. from here, you don't need to tap any reserve. just hang on to your wallet and pray that things get better soon. they're not for oil. whether it translates to gas, everybody's guess. gary kaltbaum, it's a weird reaction. that's the way the markets works. its concerned about a slow down, but if it means that pressures on the inflation front ease, they'll buy that, huh? >> and lower rates coming down. that relieves the pressure also on maybe our central bank. yeah, we may be at one of those moments where bad news is good

news. we had some economic numbers in the last few days that were less than stellar. so something to watch closely. good to see oil prices droping. every dime at the bump is big stuff. what they're trying to do out of the white house, they're not going to do much. 10 to 15 million barrels is no biggie when we use 20 million barrels a day. it seems quite illogical. >> neil: you think about it, this strategic petroleum reserve is meant for emergencies. that's not what it was there for. if we -- as we experienced during the opec oil embargo, all of that oil was shut off from us. the idea is to stockpile our own oil and save it for an emergency, a rainy day. so between the 180 million barrels that the administration committed to take from the reserve back in the spring, now the 10 to 15 million extra

barrels, we're running out of room there. >> yeah, we've gone from over 600 million to 400 million barrels. they'll need to replenish it soon enough. but for me, the big story from day one has been an always will be economics 101. why they don't just say the emergency is this and we're going to produce the living heck out of oil. it's going to take time. but we are ready to go at it. i can promise you every trader, investor and speculator around the globe will sell the price of oil down as well as short it. we're dealing with markets here, not just the fundamental part of it, supply and demand. i can promise you, oil prices were in the 50s back in 2019 before covid. i would love to get there again. we're back down towards the low 80s. not good enough. i can promise you that. >> neil: all right, gary. thanks very much. another development we're

following, this whole case involving igor danchenko on charges that he lied to the fbi. a verdict in that case has just been reached. david spunt has more for us. david? >> hi, neil. igor danchenko, the russian national accused of being the subsource for christopher steele found not guilty. igor danchenko not guilty in a court. a jury of his peers, 12 jurors decided they would not put him behind bars or find him guilty on four counts of lying to the fbi. danchenko was in the courtroom at the time. we don't know exactly if he breathed a sigh of relief. we had to get the news out as soon as possible. this is part of john durham's investigation, the special counsel appointed by attorney general bill barr to look at the origins of the narrative that pinned donald trump to russia

back in 2016 or 2017. we covered efforts by the fbi and others to investigate trump. that was kind of the purpose of the entire mueller report. so john durham was tasked with looking at the origins of the russia narrative to see where it came from. he charged a hillary clinton campaign attorney named michael sussmann last year. he was on trial also for lying to the fbi. he was acquitted in may. this is john durham, the special counsel's second loss in a court of law. we've been told that john durham is still going to move forward with a narrative, something written, a report, a full report for the public to be able to see, weaving this entire narrative and really putting a bow on this more than three-year investigation. right now we can tell you igor danchenko found not guilty on all four counts. jurors began deliberating yesterday at 2:00 p.m., went for three hours, went all day today.

we were wondering what was going on today. about 40 minutes ago, they had a question about a conversation that took place with an fbi agent. then about 20 minutes later, they came back and said not guilty on all four counts. >> neil: a fifth count was dropped by the judge earlier. what toes this do to john durham's case going forward? >> yeah, we'll have to see what happens. what was dropped was a conversation that danchenko allegedly had with a man named chuck dolan, a democratic operative. the special counsel said that danchenko spoke to dolan and used some of that information in the steele dossier, the document that was trying to take down donald trump. however, danchenko's attorneys and the judge ultimately said dolan and danchenko communicated via e-mail, so they technically

did not speak. so the judge threw out that one charge on a technicality. what happened today, neil, was four different counts dealing with danchenko talking to an fbi agent named kevin helson and repeating a story about speaking to who he believed was a russian that may have been giving some dirt on donald trump. durham said that never happened. he said that danchenko lied to this fbi agent four times. danchenko's attorneys said you can't prove it. it didn't happen. while it may not be in phone records, there's what's app, signal, other encrypted services that people use to communicate. ultimately it appears the jury believed what the defense team had to say. the defense team did not even put on a defense. they didn't call danchenko. so when durham and the government was done friday,

danchenko's team said we're done, too. >> neil: you have to wonder if this is durham's swan song. there was great expectation here. it's just fizzled. >> you know, we don't know if john durham will charge anyone else. legal experts have say it's unlikely because you look at the statute of limitations. we're talking about stuff that happened in 2016, 2017. we're at six years now from 2016. in many cases, the statute of limitations has expired. so there's not a clear path to see if he's going to charge somebody else. but if not and we have known this all along that john durham is someone that is very careful, that is very calculated, that pay as tension to detail and someone that takes his time. i think from a 3 1/2 year investigation, we know that

this, what happened today, may not be his final act. it may be his final act in a courtroom, however we do expect some sort of narrative to come out, a final durham report just like we saw the mueller report. by the way, even though john durham is a special counsel, he still falls under the department of justice. merrick garland, the a.g., last been hands off allowing durham to do his thing. he doesn't want to get in the way. he said i renewed durham's budget, i let him do his thing. while we don't 100% know if merrick garland will give the sign off on john durham to release his report. i suspect that he will give that sign-off to allow that durham report to be released. just getting some information from jay gibson. he said igor danchenko hugged his wife who was in tears and again, not guilty on all four counts. >> neil: i'm wondering in the

case of merrick garland but not intruding in the case, he's letting not that durham is inpleading -- imploding but the whole caught my be imploding. >> it's hard to tell. there was a lot that john durham wanted to bring in to the trial that the judge would not let him bring in for evidence reasons and other reasons. so i think john durham, if you'd ask him -- i wish we could ask him and do an interview with us. he probably won't do an interview. i wish we could ask and see if he didn't get a fair shake from the beginning and do things differently. i would love to sit down and have an opportunity with him. we have the microphones here. i suspect we'll hear from danchenko's team. we'll try to reach out to durham and his team. we'll probably get a statement. which is normal. the government doesn't speak if they lose a case.

it's not abnormal. >> neil: no doubt. we might be returning to you. to put john durham in some perspective, he handled the final argument to the jury. he was very active in in case. he argued all along that the investigation was a logical follow-up of the special counsel, robert mueller's conclusion that there was no prosecutable evidence. that was important. the term "prosecutable evidence". john yu with us right now. a very good read on this case and all legal matters. john, your thoughts. >> neil, good to be with you. sorry i can be on camera. this is a big setback for the special counsel because this is now two losses in a row. i think we'll have to wait to see the real story of what happened with the steele dossier, the collusion between our law enforcement intelligence agencies and the clinton campaign.

it has to come out in a written report like david was saying. it was never clear how much of this was criminal and how much of this was dirty political tricks, how much of it was bias on the part of our bureaucracy and the national security area. i think that's what we'll have to look for now. what does durham say. there's a lot of things that he brought to light in these trials but they didn't contribute to guilty verdicts and people spending time in jail. >> neil: that came back to igor danchenko himself. that the jury didn't feel that he lied. how significant is that and the way that this show the case going forward? >> the real story is not danchenko. not michael sussmann. the real story even though there's acquittals, the two cases brought to light, how gullible the fbi was. how much that they cooperated with the clinton campaign.

that's the real story. even though durham lost these two cases, he was able to bring out a lot of that. in a way, think about these two cases. the jury could have decided that danchenko and sussmann before him are not guilty because they didn't lie to the fbi because the fbi already knew that they were lying. that is a quite possible -- it wasn't important. the fbi knew that they were spinning -- they already knew the steele dossier was unreliable. they offered steele a million dollars to prove it. he couldn't. so maybe the jury said these guys are not guilty. they said the fbi department make a difference. they knew it was hog wash. that's why the real story has to come in what will be called just like the mueller report, it will be called the durham report on what really happened in 2016 between the clinton campaign and the intelligence agencies. >> neil: to understand your points, the dossier itself has

been rejected, has been discreditand dismissed. that's the reason which the attack line went, that donald trump and his surrogates were working with the russians to guarantee his election. the whole promise was proven wrong and it was misrepresented and exaggeration and launched countless investigations all the why to the mueller probe if you think about it and the very foundation was built on lies. >> i counts agree more, neil. you have it exactly right. the dossier and this whole hoax that the trump campaign was colluding with the russians, think of all of the damage that that did to our country, not to mention the first two years of the trump administration. all of those investigations. i think what people need to keep clear in their minds, there's a difference between political dirty tricks, a different between abuse of power and violating the criminal laws. that's what durham was never able to get. that anybody had committed a crime that he can prove in court

to a jury beyond a reasonable doubt. that doesn't mean that people didn't abuse their power. that doesn't mean that people did the wrong thing. that's the story here that we have seen in these cases. how much the fbi and the cia and intelligence agencies wanted to believe that donald trump was in bed with the russians. how much they used the vast powers at their disposal which we gave them to investigate terrorism and espionage and they turned it in on themselves. >> neil: that's brilliantly put in the end. a story that proved too good to be true and apparently too good to be remotely accurate. more after this. my name is joshua florence, and one thing i learned being a firefighter is plan ahead. you don't know what you're getting into, but at the end of the day, you know you have a team behind you that can help you. not having to worry about the future makes it possible to make the present

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rates right now for a 30-year fixed closing in on 7%. what a great time to launch a real estate show. but if anyone can pull this off, step back, de-panic this situation, katrina, hosting a new show on fox business debuting tomorrow. "mansion global", 8:00 to 9:00 p.m. she will put it in perspective for you. what was the housing meltdown last time is not happening this time. thanks for being here. >> nice to see you. >> neil: we have rates going up to 7% or close to it. people are nervous, you know. a lot of people feel they missed the boom both on the buyer and the seller's side. what do you tell them? >> and i think as a real estate professional and a real estate contributor, i would advise sellers and buyers to stay put right now, which is normally not what you would hear.

>> neil: the buyer can't stay put if raises are getting high. they're getting priced out. >> maybe they're renting, in their current place. i wouldn't go out and buy something right now. i think rates are growing to continue to increase. i think builders have actually slowed down on housing starteds. that's going to affect the situation. >> neil: that could be a long wait. >> it could be. i to believe that now is not the right time to jump in to the market, a real estate professional would normally not tell you. what incentive do you have to leave your current home to jump into another home and pay the high interest rates? doesn't make much sense. there's not a lot of existing homes on the market even though in the spring and the summer we saw more homes come in. builders, the stats came out today, they slowed down. >> neil: you draw a distinction between what's going on now and what went with the housing market. you and write talking during those days when people were buying and selling properties

sight inseen, right? sometimes if you had a pulse a mortgage, those days are gone. so are we as frothy as we were then? >> those days are gone. i don't think they were healthy quite frankly. that existed for the past three years. and texas alone, values -- over the past decade, texas housing prices rose 99%. that's not sustainable. so i think that it's very healthy that the market has slowed down. with that said, do i think that the fed's attempt to fight inflation with an increase in interest rates, do you i think it's going to work? we'll wait and see. i don't think it's working to be honest with you. it's only hurting the american people. affordability is suffering as a result. ultimately homeownership is suffering. >> neil: where is it -- we know the hot markets are florida. we know and texas. it was one of them. what is happening now? >> the west is suffering. if you look at the country as a whole, you're beginning to see

the slowdown the most on the west side. >> neil: interesting. >> as opposed to the east. it's difficult to give a blanket statement but the west will suffer more than the east side of the country. certain markets will do well. as a whole, we'll see a slow down. the economy is in bad shape. >> neil: let's talk about the interest rate phenomenon. it's one thing to see, oh, i think i can manage to pay this higher rate. it's quite another to get approved at that rate. >> absolutely. the good thing about the lending standards, you don't have the ninja loans where you had no job, no asset and they gave you a loan. people have a lot of equity in their homes, which is a strong point. >> neil: buyers can get an adjustable mortgage. nothing of the nightmarish quality that we saw a decade al. you can get some that stay fixed for ten years. so there's some wiggle rooms. >> that's a great point, neil.

i did a seven-year arm years ago. i basically refinanced when the arm came up. that's another option. it's healthy and feasible and it's definitely available in this market. the lending standards are there. >> neil: it helps to have a nice market behind it. it's not been nice. >> it's not been. you and i discussed the stock market. >> neil: a big part of it. >> look forward to the show. "mansion global" tomorrow. this woman breathes real estate. she was on top of it when nobody was. she was warning about the sign as decade ago. the fact of the matter is, she's a good read at this and will kind of put it in perspective on fbn. if you don't get fbn, you ought to demand it. people were a lot louder saying that. you get my point. it's an important network to watch and katrina is a important person to follow. as is this next fellow.

charlie gasparino. the best business reporter on the planet. i've said that once or twice. >> keep saying it. >> neil: i will. the check should be in the mail. charlie, i was thinking of you with the netflix numbers out. they were better -- >> a lot better than expected. >> neil: they have a two-tiered service to win people back for people like you that don't want to pay as much. but you get advertising. it's a flip. what do you make of it all? >> listen, people are still trying to figure out how to make streaming work. this is a good number. people are getting it's down. this is a business that is in transition. every major media company is looking to catch netflix. netflix had a drought there where people questioned the business model. looks like they figured it out. you don't want to say definitely. i'll say if you go into a recession, all bets are off. the ad model was interesting.

it seems like that is a good play if you think you're going into a recession. >> it's cheaper. you do have to watch the ads. that's what they're doing. so maybe that's the recessionary play on netflix. the bottom line is we're going to a recession. i'll say something that your last guest said, the fed is not doing something good for america. americans are being priced out of the housing market. if you saw what prices are like in places like charleston, north and south carolina, austin, texas, only millionaires can afford these things. so we have bubbles in stocks, we have a bubble in housing. >> neil: is the this bubble in netflix, that's what some termed it through the height of people in their homes and streaming stuff and all. could this be the first sign that the beating of these issues that were sort of metaphors for the whole, you know, stay in your home thing are back or could be coming back or through the worst? >> yes.

i hate to make one earnings report to be the standard bearer. >> neil: understand. if i can replay the tape, it's not -- >> netflix is home-free. it's obviously not. this is a good number. it does show that they can survive and maybe thrive in a nonlockdown environment. i think it also shows that, you know, some movies are good in the theater. most people want to stay home. theater experience is just not so great. you can get your own popcorn and sit in front of your tv. that's what they offer. >> neil: you're anti-social. i like the theater experience. >> that's true. >> neil: you're unusual. >> i hate the fact when i'm in the theater, people are talking. you know, you see them look on their phones. usually me. i hate it when other people to it. that's my problem. going to the theater. >> neil: one of many. >> there's some movies that you cannot watch on your tv set.

it's unwatchable. i watched top gun on my tv set. it was horrible. i heard in the movies it was fast moving, big, wonderful. >> you try watching the history channel on the -- i did guess. >> look at the time. we have to go. >> neil: as charlie pointed out, one stock is not a reversal of a trend. a lot of people worried about the stocks in after markets trading. it doesn't help one play-to the other, from an amazon or a microsoft announcing lay-offs. doesn't get us outs of the woods. provides some light for some. more after this. have innovatios like the maytag pet pro laundry pair. so you and your favorite sweater can forget about all about those hairy situations. shop maytag and more exclusive out of the blue innovations at lowe's.com. the hiring process used to be the death of me.

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election. >> bill clinton at the end of 1994, beginning of 1995 talking about the midterm elections and the signal it sent. midterm elections are important signaling devices. they tell a country, particularly first term of a president how the country feels it is going. of sometimes presidents do that. note everybody liked bill

clinton, but he did heed that, he said the era of big government was over. he sort of had the budget deficit reduction plan with congress, sat down with newt gingrich at least for awhile and did a deal, changed course and was able to win re-election. >> he head tea leaves. >> as seems increasingly likely joe biden and the democrats get a shellacking next month, you look at the polls, looks increasingly like that in the house and even the senate as well. they may lose key senate seats. what is the message as you say whatever it is two, three days afterwards, or go to another georgia runoff, maybe january. what will we make of it, most importantly, what will the party received the shellacking make of it. i think you're right. i think joe biden is more like barack obama when he received a shellacking in 2010, shrugged his shoulder, more or less went on with his agenda

and i think that helped to shore up pressures that led to the election of president trump. >> did help him get reelected. >> narrowly. perhaps not the best candidate at the time, the economy was in better shape. >> the point where a lot of presidents look at a midterm, look at the history of that, say well, my odds are pretty good, whoever has odds of getting reelected. didn't work with president trump and george bush senior, but we don't have to change. no matter the results, could be a tight house, tight to even senate. >> i have to say, though, i wrote this in the column that you kindly reference today, i think if the democrats get a hammering next month, i think the pressure on joe biden to step down, say he is not running again in 2024 will be almost irresistible. they'll look for new leadership, fresh start.

>> isn't the party dealing with leaders, whether forcibly to win in a general, because whether it is lyndon johnson, decides not to run in the face of that, tough to pull it off. >> it is. you're right, lyndon johnson is the only example of an incumbent that voluntarily stood down, decided not to run for re-election. but biden's age is going to be a problem. the other problem the democrats have, who do they then nominate, they have got a real challenge in that field. kamala harris -- >> it will be open season and primaries. >> and the other interesting thing, do the democrats get the message if they lose next month to turn away from some of the mo are aggressive, progressive policies they pursued, whether it is on some of the green stuff, environmental stuff, whether it is on crime, whether it is on immigration, are they going to get the message of the woke revolution that democrats seem to be

enthusiastic about, are they going to get the message, is the party going to go back to more of a mainstream centrist party. again, you look at the candidates, gavin knew some isn't going to do that, kamala harris, elizabeth warren may be out there, bernie sanders may be there again. >> but i talked to piers morgan earlier today on this notion of it is not just democrats who might want to take queues to what's going on in the world but conservatives, and this concern what's happening in britain. this is from piers morgan. >> maybe a warning for conservatives who are already, you know, chomping at the bit to take over the house, maybe the senate, that they're going to cut taxes, do a lot of things, but reminder you better have that all ironed out and how you're going to pay for it before you go to do so. >> the most startling, dist disturbing, ultimately unsuccessful thing she said when she announced, only in power several weeks, said she hadn't

done the ground work when it fell in her face. it was like how can you not do the ground work as a new prime minister in a financial crisis. >> i think the message we were trying to get at is republicans are under pressure, whatever they propose, should everything be paid for, could the markets revolt on you. i know britain is a special case, what's going on, grant you, but what do you think of that, what reminder it sends in. >> i think there will be some of that. you have a message from voters and the markets, from the bond market. i think purely aside from electoral politics and what happens in the next month, i think we have changed, entered a new era in the last few months as inflation has taken off, it is clearly embedded in the system as markets have come to digest that and realize that we need to fundamentally change the way we think. we're not able to have zero interest rates as we did more or less the last ten years, not going to be able to have a government to print money and not

worry because there are people to buy its debt. those things created this inflation, they're changing climate for any government, any government in the world, u.s. is in stronger position than the british government because it is a bigger country. every government around the world has to deal with a new environment in which free money, cheap money, is not available. >> thank you very, very much. following all of that. hi, i am greg gutfield with judge jeanine, jesse watters. dana perino. "the five." democrats are panicked that they peaked too early with three weeks to go before the midterms, but hey, like jesse in high school, it happens to the best of us. the party of woke schools and gender studies