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tv   Varney Company  FOX Business  November 2, 2021 9:00am-12:00pm EDT

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daughter. >> i believe derek zula, the famous male model said something along these lines. there is more life than being really ridiculously good-looking and that is probably the case for panda who isn't going to be a dog model anytime soon. beauty can exist on the inside. we all love our pets. maria: we say goodbye, thanks for being with us. "varney and company" begins right now. stuart: tepper faking a british accent is the worst i ever heard. good morning, everyone. let's recover from that one. on this election day the democrats are at each other's throats just days before congress goes on vacation, they cannot agree on spending.
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senator manchin says he will not vote for the spending bill until he finds out what is in it and what impact it would have. squad member cori bush says manchin is anti-black and anti-women. i call that a significant division. democrats of my reached agreement hundred pricing, medical dental benefits, family leave and taxes and a whole lot more. at the last minute speaker pelosi will try to stuff everything in in. another of those you have to pass it to see what is in it situations with my opinion this is no way to run a government. late polls show republican glenn youngerkin has the edge over terry mcauliffe in virginia and in deep blue new jersey the republican challenger is down single digits to democrat governor phil murphy. if they come very close it will have repercussions for the spending bill, the 2022 elections and even 2024. to the markets. relative calm. tomorrow afternoon the federal
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reserve hints at its interest rate policy, as big as it gets on wall street. the dow up 30. nasdaq down 23. the market on pause. here's a standout, tesla, elon musk says the deal with hertz for 100,000 vehicles has not been signed. down goes tesla, 3%. the cryptos stronger across the board. bitcoin at 63,000, ethereum at 4400. the crypto based "squid game" has collapsed. it was a scam. details later. at the climate summit, president biden pledges $9 billion to preserve forests, organizing a group of 25 giant companies that include apple which will spend heavily and lead the way on renewable energy and regulate methane leaks. look like jet lag got to him. he was spotted dozing through a big climate speech.
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"varney and company" is about to begin. stuart: that takes me back. it is election day in virginia and new jersey. different issues take center stage, taxes, education, the background of those races, bitter feuding in the democratic party and the president's plunging approval rating. connell mcshane in leesburg, virginia, is this race a bellwether for the midterms next year? >> republicans hope it will be if they can win it but what i can tell you the last few days
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we have seen a large in person enthusiasm gap for the candidates as the campaign is wrapped up. you never know if that translates into results on election day itself for glenn youngerkin who is trying to pull out the upset over terry mcauliffe. mcauliffe on the trail has not been drawing the big numbers and last might was no exception. this is his event, modest crowd, repeatedly told his supporters the his opponent was putting his final a campaigning with donald trump. that was not true. trump held a teller rally for youngerkin, not in person. youngkin was here in this area rallying supporters in a big way. i was at this rally, it was a chilly night and they were fired up when he arrived at, this election is bigger than one state. >> america is watching. why?
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because all across this country families are having the same discussions you all have. i get notes all day long, stand up for our kids too, because we can't vote this year, you in virginia do. we have problems in our school board and our schools, stand up for us, virginia. >> it is up to the voters now. many voted already. we are watching people filing in and out. republican hasn't won a statewide race and 2005 but if he pull this of it is a good deal, virginia has been a purple state for years but not in recent years, solid blue, president biden won by 10 points. stuart: if youngkin pulled it off it is an earthquake. connell mcshane, back to you later.
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matt schlapp, we want you to speculate, if youngkin wins what does it do to the spending vote? >> exactly right. republicans are unified in virginia, the coalition of america first conservatives, republicans and i think republicans are unified in the fight against socialism but what you have with the democratic party which embraced socialism is evident in this bill which you have been reporting on this whole time it is just a noxious 20 moderate republican, any moderate democrat, any democrat who believes we ought to have fiscal sanity, what you saw with joe manchin, he basically extended the wrong figure to his own leadership by saying i'm not going along and he is doing that because joe biden is politically dropping in the polls. stuart: let me run that soundbite.
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listen to what senator manchin is calling out the progressive wing of his party. >> i have never seen anything like this. the political games have to stop the sake of the country, the bipartisan infrastructure bill, holding this bill hostage is not going to work. and my support for the reconciliation bill. stuart: he is not voting for the massive spending bill. back to my original question. if youngkin wins, does that sink the massive spending plan? >> i believe it does because all of these democrats in purple areas have to distance themselves from the socialist agenda of the biden administration as what it will also mean is the republican party is very competitive. in a blue state, virginia,
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president biden won by 10 points. all the polls show president biden is very unpopular in virginia. what happened in virginia is not so much about the two candidates, moms and dads followed in these classrooms. the crt, pushing this gender politics, covering up rapes in loudoun county by prosecutors and school boards elected by george soros's money this is a revolution who will take over the country. it all came about because of the lockdowns of schools and parents say what is going on in my schools and didn't like what i saw or heard. stuart: you will be glued to the tv set like myself in 11 or 12 midnight. >> follow me on twitter. stuart: tesla down 3.5%, the drop came after elon musk said the deal with hertz has not been signed yet. david nicholas joins us, market watcher of this morning.
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i know you are a fan of musca. this decline, 3% down, is it a brief dip? >> i think it is but with elon musk he is too honest for wall street. when you think of meteoric rise this is a positive thing, it is only down 3%. a lot of the run up is due to this idea of 100,000 cars so this is noise. it is a great buying opportunity, this is a christmas gift for those who want to get in on it. stuart: talk to me about the electric vehiclemaker with backing from amazon and forward. are you going to be a buyer of it when the stock goes public? >> i'm cautious on ipos but this is one we are watching, amazon owns 20% of the company. when it goes public amazon will look to make $1 billion of
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profit. they will be tesla to market with the truck, the art one to you. and electric truck on the roads, it is a positive sign for the company. the $60 billion valuation smaller than a tesla. stuart: we hear you, appreciate it, see you again soon. the "squid game" crypto currency we have been talking about is part of a scam. do investors lose the money? >> they lost assurance. the coin's creators abandoned the project by actually achieving the coin cash. every dollar ever invested in
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squid coin, 40,000 investors over the bag before the crash. squid coin went from one penny to 2860, $2,860 and what it does is highlight the volatility of meme coins in particular with changes of putting your money here and regulatory gaps. stuart: it is a flat out scam. thank you very much. the market opens in 19 minutes. check futures please, some green for the dow, a 20 point loss. colin kaepernick stirring up controversy for comparing the nfl draft to slavery. >> before they put you on the field, examine, searching for any defect that might affect your performance, no boundary respect, no dignity. stuart: this is a netflix special, viewers are outraged, we have the story. the media was quick to vilify
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florida's governor, the rise in covid cases back then. >> desantis and florida would rather talk about anything other than the rising death toll stemming from mismanagement. >> governors in this country are putting politics ahead of public health. florida's republican governor ron desantis would be up the head of that list. stuart: so where is the media now? because florida has the lowest covid case rate of any state in the country. we will be back. ♪♪ we got this. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones
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when the administration is expected to impose vaccine mandates for private businesses any day now. this mandate applies to businesses with 100 or more employees. >> 2 thirds of the private workforce. you must be vaccinated or tested regularly. the question mark, can businesses for the unvaccinated to bear the cost of testing. what precedents would that set? that -- the occupational safety and health administration has a policy that employers pay for all required tests and equip and with one exception. if they change that, that would be huge and set a new precedent and every republican governor
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vowed to challenge the legality of this rule once it is released. stuart: implications of the are everywhere, tentacles spread out. from the wall street journal the headline reads media ignores florida covid recovery. gavin newsom, a similar turnaround but won't stop vilifying ron desantis. doctor marty mamacarry. do you see media bias encourage of the vaccine mandate and does it matter? >> there is tremendous bias if you look at the cdc, they put out a study of natural immunity that was jerryrigged and the conclusions that natural immunity is unreliable are not supported by the data. the media parroted this along like weapons of mass distraction in iraq, repeating whatever the government said in 16 other cities would get the state to state comparison, the number one driver in the death
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rate per population has been obesity followed by how early they were in the pandemic and after all of those groups, massachusetts, the same rates. stuart: i did not know the main cause of death was obesity. >> the highest death rate per capita in mississippi, the highest obesity rate. stuart: the mandate for city workers is causing havoc. should be relaxed? >> we would have avoided so many problems with the supply chain, polarizing people and politicizing covid if we were a little more flexible with the vaccine requirements. all it took is recognition of natural immunity and allowing more medical and personal exemptions. that is all it would have taken. would have invited all these and had the same level of public health safety. stuart: is there an offramp? can the authorities relax the mandates?
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>> we can do them in some states are doing them but the problem is everybody defers to the cdc. when the cdc says do these things that put businesses and local governments in a very awkward position, we will see what the results in virginia do for covid policy. glenn youngerkin has reasonable positions that mirror that of most americans and perhaps a vote for him today will signal policymakers and politicians across the country, people want a more reasonable policy. stuart: i didn't realize there was a connection between republicans in virginia and covid. i didn't realize. you told me a lot today, thank you very much. in chicago a judge has halted the vaccine mandate. this applied to city workers like police officers. >> the first part is a win for chicago. police officers must report their vaccine status. if they don't they are not
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getting paid. 35 officers not getting paid. this is a big deal. the vaccine mandate deadline of december 31st cannot be put into effect until there's arbitration on the matter. that is a win for the union. 73% have reported their status and of those, 80% are vaccinated so this affects police officers, not other chicago city workers. stuart: it is a delay. neil: lay. stuart: amazon, what is this i see about amazon going mask free. >> if you're fully vaccinated you don't need to mask up unless the city requires you to wear a mask. the rollback starts today. stuart: pharmacists, rite aid, cvs and the rest are preparing to give kids age 5 to 11 the jab. waiting on final authorization from the cdc which could come today.
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check futures please, 19 minutes from the bell, dow up 30, nasdaq down 19. "the opening bell" is next. ♪♪ ♪♪
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stuart: market looks on pause waiting for the fed which announces tomorrow. did, you think of the fed starts tapering tomorrow, announces tapering in some way or another you think that is a problem for the market? >> not really because it means buying bonds at a slower pace and adding liquidity into the system. they are going to fill it up at a slower pace the way i am looking at it and aim to end tapering by the middle of next year and that is where the tightening could start and raise short-term interest rates. stuart: that is raising of
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interest rates. the fed chair makes its statements, just back to waiting for the end, the speculation, the tea leaf reading, it is a cottage industry all over again tomorrow afternoon. nothing is clean or cut. >> they will have to be specific. the market is expecting tapering and federal announcement instead of buying $8 billion a month, $40 billion in mortgage-backed securities, they were cut that back from $120 billion, that is what the market is waiting for and i expect it will be gradual tapering, baby steps and when you extrapolate the numbers it will tell you they will be done by the middle of next year. a lot will depend on what inflation does between now and
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then but if things go according to plan which they never do you will see them to start to taper tomorrow and end by the middle of next year. stuart: that means we are not likely to see a big selloff by the remainder of this year. are you and the consensus that says we go up for the rest of the year to come down at some point next year. >> i'm not that good at timing corrections. we are in a bull market through next year and certainly along the way we could have some 5% or 10% corrections but market is going higher and with the fed tapering without a taper tantrum. stuart: let's speculate, suppose this gigantic spending plan, not infrastructure span but supposing it doesn't happen. with the market like that? >> i think the market would like it if it implodes. the reality is we can't afford
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this type of deficit explosion but more importantly i don't know about the workers out there to build infrastructure, labor market is tight, people are quitting their jobs. hard to find people in construction so the economy isn't going to take that much spending without creating a real inflation problem. stuart: you and i are the same vintage. i don't think we've ever seen anything like this before. >> it is fascinating but also unnerving. >> it is fun if you are in the market. that is when you come down. we will see you again soon. thanks for being here. "the opening bell" will ring in 45 seconds and we will start trading. susan lee sat on the set and filling out its sentences.
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>> the last 3 months, seasonality, the strongest period of the stock market. stuart: i feel shocked, absolutely shocked. i do not see this massive rise coming. we were on the air all the time in the late summer, correction has got to come now. >> you were saying that was getting nervous how high the market went. stuart: is it just a dip, a selloff? what we have is a 12% rise, 9:30, up and running and trading, wall street is opened and right from the get-go we are on the upside again. 30 odd points, 2 thirds of the dow 30 in the green so they are appended out at 32 points, look at the level, 35,00930. you never know. the s&p 500 also ever so slightly higher, and the nasdaq, no, it is down, 0.06%.
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>> call it flat. stuart: big tech only one loser and that is amazon and now apple ticked down one sent. not much move for any of them. the big story, the big movement, tesla, a big drop, because elon musk says the contract with hertz has not been signed yet. >> you can tell me if you are surprised by this. lastly elon musk, no contract has been signed with hertz a tesla is only selling cars to her to the same margin as the consumers. there were questions of tesla, at a discount, 100,000, also the number is significant, to have only recently used record delivery levels of 800,000 expected this year so if you're
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giving away more than 20% of the cars you produce each year and the backlog of orders might be a problem for consumers and tesla. stuart: is down 4.7%. there is some profit-taking. lauren: the stock is close to $1,200 so you are astronomically this year and it is a win/win. hertz is coming out of bankruptcy and they don't have formal deals yet so why would you announce it. mark fields needed the publicity, the new ceo at hertz. a former ford guy. stuart: let's have a look at microsoft. why not? we have deutsche bank saying microsoft has room to run. that means it could go up what level? >> you like this other term in this analysis which is the gold standard which comes to technology shares, that is what
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they say microsoft is, $390, or another 20% upside and the reason it is the gold standard which i know you like, because microsoft has the widest and deepest mode of any company. do you believe that is true? the x boxer windows operating software. when cloud is number 2, yours is number 2, it has faster growth rates but don't know if there is anything competitive. stuart: don't know about that but i do know they are firing on all cylinders. >> stock price going up. stuart: where's the negative? >> the legacy business, everybody knows that and it is execution incidental. stuart: one more. the online education people are down 40%. what happened? >> students are not coming back, business is not doing as well as anticipated.
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a huge drop. students are not coming back as anticipated so they missed badly when it comes to sales, barely met profits in their outlook. stuart: leave it at that. you have some earnings reports that came out earlier this morning, pfizer was out of the in stock is up 3. >> look at the vaccine demand and booster shots. stuart: it never moves significantly, 35 to 45 and they have a great vaccine. >> other drugs in the pipeline, and it was pretty strong sales numbers and profit numbers and this is one of the most successful medications or drugs ever developed on the planet. stuart: moderna want to the moon and pfizer did not. under armour. >> goes back to apps leisure and the trend to more casual clothing because we are not going back to the office as quickly and that is why under
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armour really crushed it, doubling the profit estimates on street in a reasonable your guidance because expectations of daily where. stuart: i'm fascinated by jenner act - i'm done with the expression. it is down 8%. this is a major league generator company which i thought was doing fantastic business for the last 10 years, wire they down 8%? >> lower than expected sales a doing so fantastically -- stuart: maybe they can't deliver. >> talking the supply chain crunch? they did see profits, they had some way to make deliveries less by making more and also announced a deal, $570 million deal for a smart thermostat company. stuart: since we have been on the air on this show, i will go back 5 years, i remember $150 a share, 465.
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>> not the stock. >> for your home up north. >> in new jersey. enough already. i see apple down this morning. there cutting ipad production. >> it has been guided for and i spoke to the cook on the earnings and they said $6 billion hip last quarter. what they are doing, this is the nikkei news which was his or miss and apple is cutting back severely, the production of ipads to move necessary shipping components to iphone production and 50% of sales, a component of where people are buying. stuart: apple is just side of
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$150. that winners, who are the winners among about 30. >> cisco symptoms. >> microsoft, nike is in there. on the screen, we are up arista. >> under armour is up 20%. >> simon properties. stuart: more company for 50 year earnings, not a thing of the past. nasdaq winners headed by cisco. the chip company. >> for a large technology company like that the gets to present rallies was a mover. >> 9:37 and the dow after 7 minutes is up four points. the yield is 155.
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the price of gold under 1800, 1790 is the praise, bitcoin doing well, 63,500. oil $83 a barrel, natural gas well below $6, national average of regular gallon of gas holds at 340, up $0.21 in the last month. as we quote for you in california a gallon of regular averages $4.61. go for that. mayor deblasio's political career may not be over. despite his awful track record running new york city, and failed presidential bid. role tape. >> apologize if you haven't gotten to know donald trump but this new yorker volunteers to get rid of them for you. stuart: i did you to know we did not alter that audio. his own people messed up the audio. we will tell you which office he now has his sights set on. rhode island shutting down a doctor because he opposes
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vaccine mandates. why won't that state acknowledge natural immunity? biden's social spending plan could hike your taxes dramatically. hillary vaughan breaks down the numbers from capitol hill. you will be shocked when you see this. ♪♪
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stuart: you may see red on the screen but the nasdaq and s&p just hit all-time highs. under president biden's new tax plan america's wealthiest citizens would be a combined federal, state income tax rate of 57.4%. hillary vaughan on capitol hill, exceptionally high
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number, break it down. >> everyone's taxes if you're making 400,$000 under this plan will go up but everyone is going to be impacted by higher tax increases. they looked at the new framework for president biden's social spending plan and found when you add everything together the proposals and framework and existing taxes, state and local taxes the us would lead the world in the highest top income tax rate surging past denmark and japan to a combined 54% tax rate. all 50 states including dc would have top personal income tax rate exceeding 50% in eight states including dc would have higher tax rates that exceed 60%. the top ones, new york and
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california, 66% topping 64% but one tax hike in this plan in particular will in essence expand the tax base approved in these for pass-through income so normally we would apply those after deductions. under this framework you will no longer be able to do that and that will impact a lot. stuart: 57%. look who is here. larry kudlow, here we go. people who live in new york, new jersey will be paying the highest income tax rates in the world. are you a big friend of governor murphy in new jersey? you described him as a good guy? you don't have the joy of living in new jersey, do you? see a big power of yours? >> i pay taxes in new york and connecticut.
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is that bad enough? it is such a blessing. governor murphy is a nice guy, just completely wrong on taxes. the tax foundation report, 57.4%, the highest in the world, america first but not exactly the america first the donald trump or any of us had in mind and it would have a disastrous negative impact on the economy. other taxes, 50% minimum corporate tax and 50% more minimum corporate tax on foreign incomes, detrimental to profits and business expensing. all of these green new deal tax
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credits qualify because of this and that is self-defeating. stuart: if they are all through somehow or other, is anything going to pay significantly more in taxes? >> i think so. anytime you raise taxes on corporations including small businesses and large businesses your impacting the middle-class. cbo, and we did it during the trump campaign, 70% of business taxes are born by the blue collar middle-class auc that in lower real wages and lower family incomes, they pay the taxes. corporations are paper entities
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and people pay the taxes. this will have a negative impact. i want to go to what joe manchin said in his press conference, go on ahead and vote on the infrastructure bill and pause to deal with the consequences of the social spending and taxing bill, we haven't priced this out, with experts on both sides of the aisle, they haven't assessed the inflationary impact of all the new spending and negative economic impact this will lose jobs and lower wages and productivity, take a pause and go through regular order and assess this, the country is against these bills and with good reasons. stuart: if we're lucky, both of them might sink. what do you say to that?
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>> if we're lucky both of them might sink. the infrastructure bill has some good in it in my judgment, the core infrastructure, the green new deal stuff is not good and there's a lot of porkbarrel subsidies. it's not a perfect bill, the senate version is past, the house could amend the senate version. they've got to consider it. think of this. you've got headlines on methane gas regulation, jack of the price of gas and essentially what the g 20 did in rome and scotland, they to raise taxes and reduce energy, raise taxes and reduce energy. that is an austerity for the world economy and as stupid is
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anything i can imagine. stuart: i live in right there. see you again soon. stuart: terry mcauliffe crying foul over the number of white teachers in his state. watch this. >> 50% are students of color, and get 80% of teachers are white. we all know what we have to do in a school to make everybody feel comfortable in school, so let's diversify. stuart: racial rebalancing. is that the problem with virginia's public schools? will discuss. another day of travel chaos with american airlines customers, cancellations keep coming. jeff flock has the story after this. ♪♪ (naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that?
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stuart: more cancellations at american airlines, 94 so far, jeff flock at philadelphia international airport. everyone gets anxious when you get these cancellations. all of the country this travel
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anxiety. any idea when this problem will ease? >> back on the brink. >> okay. stuart: you know what happened? i am announcing jeff flock is about to do his report on american airlines cancellations. he doesn't hear me so i am prattling on with all kinds of questions about anxiety for travel, any sign it is going to ease and he walked away and walks in the distance. he didn't hear me. is he still there? we missed his slots. it is 9:55. we have to take a commercial break. we will get jeff in at some point in the next hour maybe. still to come here's what we have. florida senator rick scott has something to say about florida having the lowest number of covid cases but getting none of the credit for it and congressman byron donalds in florida will address the same subjects.
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brian to lead is appalled at the vaccination mandates in big cities which are ruining city workers and sandra smith as well talking about the big expensive spending deal. we have the governor's races in new jersey and virginia. it is election day, the 10:00 hour of varney is next. ♪♪ ♪♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. . .
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♪. stuart: good morning, everyone. exactly 10:00 eastern time. let me show you what is going on in the financial markets first of all. the markets are pretty much on pause because the federal reserve makes a big announcement tomorrow. what i'm seeing on the big tech market is microsoft, they just hit an all-time high. they're back up to 332 at the moment but a new high was established a few minutes ago. bitcoin is doing well today, 63,800. while we're on the subject of cryptos, let me tell you that
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that crypto which was created from "squid game," it has collapsed. it's a scam. got it? 10-year treasury yield right now is 1.55%. that is helping big tech. that is a look at the markets. all right, everyone, now this. this is no way to run a government. the democrats are trying to ram through two massive pieces of legislation and they want to do it all this week. they don't know the real cost. they don't even know what taxes and programs are in and what's out. this chaos to say the least unacceptable. it is tuesday, right? congress take as vacation next week. there is just a few days to pass bills that fundamentally reshape america, just a few days to do all of that. as of now the democrats are still divided over drug pricing, medicare, billionaire's tax, family leave, immigration, probably a lot more than we
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don't even know about. they won't even wait until the congressional budget office says how much it will cost. senator joe manchin is having none of it. he says quote, i will will not support a bill this consequential without having the impact. after he said, "squad" member cori bush said manchin is antiblack, antiwoman. it is civil war. speaker pelosi will do what she did with obama care. jam it at the last minute, pack in it and you will sigh what's in it after we pass it. today's elections in virginia and new jersey. if the republican candidate wins or comes real close, it will be much more difficult for speaker pelosi to ram through the leftist agenda. the division among democrats will get even uglier. this is no way to run a government. no way to run a political party. second hour of "varney" just
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getting started. ♪. let me clarify. it is reported that speaker pelosi will hold that vote on thursday. i think it is "politico" that reported it. the gentleman we had on briefly on the screen, bring him back. that is scott shellady. i repeat, this is no way to run a government, jamming everything in, these massive measures at the last minute. we shouldn't be doing this, scott. >> no. no way to run a country and you know, they feel as though they came in with a massive mandate, stuart, but slim majorities do not a mandate make, right? they don't have what fdr had back in the day. the problem is, only thing to to do date, stuart, think about it, undo anything trump did. everything else has been a problem. on top of it everything else has been a problem has also been
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self-inflicted. that is what i'm getting angry about. this energy crisis, self-inflicted. this inflation problem, self-inflicted. the safety problem in our cities, self-inflicted. everything is self-inflicted. then they say they will come around the corner ride the big horse to save you from their self-inflicted problems? i've had enough. no way to run a government. absolutely right. it is no way to run a country. stuart: are you plugging for glenn youngkin in virginia to win today? because that would make quite a difference to the democrats plans? >> stuart, at least he has got some sort of common sense. like i said to you before, i own the url, common sense-ocaturl. we don't have any. democrats say they know how to spend your money better than you do, hence these bills. they know how to educate your children better than you do,
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hence the critical race theory. they can protect you and social workers. you have to get in line, to toee party line. stuart: what will you be doing tonight. watching election result. >> i have a story to do sunday. it will be a lot what happened in virginia. i'm very, very interesting to see because i can't believe our own government calling these parents just want to look at their parents education terrorists. i can't believe that we're going to give people $450,000 for bum rushing our border. what will that do for the next three months, invite more people? i mean, every time you go to bed, stuart, you say to yourself it can't get any worse and every morning it does. that's the problem. all of this is self-inflicted america. we don't have to go for wait.
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we can stop. cooler heads can prevail. stuart: cooler heads will prevail. cool down there, scott, cool down. you're doing all right. see you soon. >> all right. stuart: let's get back to the markets. there are some movers. arista networks. what have you got, lauren. lauren: number one on s&p 500. they sell switches to the internet companies that speed up servers and data centers. stuart: we lost the lights. lauren: we're still on. they forecast growth of 30% for the orders and big customers like facebook. is this a first for you? it is. you know what we'll do? we'll keep going. lauren: let's go. stuart: just because we're in the shade, so to speak doesn't mean we can reach our viewers. we'll reach our viewers. we won't show you and i in the shade. we'll show you stock quotes on the screen. what else we got. lauren: first is one, lb group. up 67%. fintech and bitcoin mining.
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they're supporting mastercard's processing of bitcoin transactions. they just reopened. they have been paused several times for volatility which you see when you have a 6% feign. stuart: estee lauder, the makeup company. lauren: disappointing forecast. what did they blame? the supply chain. they were down 2%. they turned around. also said covid restrictions impacted them in their china sales oaf the summer. stuart: the dow is up 27. estee lauder is up one dollar. got that. yes it is election day. new jersey voters are heading to the polls. lydia hu is at a polling station in east rutherford. lydia, what are you hearing on the ground right now? reporter: hey, stuart, voters here say the issues that are top of mind for them revolve around covid and economic recovery and it closely track what is we're seeing in national politics right now. that's why the pollsters consider the results of this new jersey governor's election to abel weather for what could come in the midterm elections
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and also a referendum on president joe biden's policies. over the summer democratic governor phil murphy was leading by a double-digit margin but gop challenger, jack ciattarelli closed in during the final weeks of campaigning by focusing on the economy and pledging to make new jersey more business-friendly. the state's unemployment rate is currently 7.1% in the latest reading, among the highest in the country. and here we are finding voters, both casting ballots for governor murphy and gop challenger ciattarelli. watch. >> he has been doing a good job. will continue to do a good job. get people back to work. more people working tax, can be paid. >> wants to the stablize at least keep taxes in new jersey where they are and draw more businesses. >> not only in new jersey but the whole country needs a change. reporter: now registered democrats outnumber republicans
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by a million people in this state. so even stu, if governor murphy is secures re-election, if gop challenger ciattarelli can edge in on that margin bringing that down to slim as possible, that can be considered a good thing for republicans heading into the midterms. stuart: certainly will. lydia, thank you very much indeed. by the way as you can see, let there be light. lauren: that was fun. stuart: it was. rachel campos duffy is with us. rachel, i believe you are a jersey resident. do you realize you will have to pay the highest income tax rates in the world if this massive spending plans goes through? what do you think to that? >> yeah, new jersey has the highest property tax as well. listen, a week ago, stuart, i would have said this race was definitely going to go for governor murphy but in the last week something very interesting has happened. several things. one, a under cover video by
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project veritas where it caught a top aide for governor murphy undercover in spanglish by the way, it was interesting, talking to somebody, he totally intends to bring a new york-style vaccine mandate. he just can't say this ahead of the election. but he will do it. another tape dropped recently from project veritas talking about how much money they intend to give to illegal aliens who are living in the state, millions of dollars. this has not penetrated the national media but it has penetrated locally in the state and so it will be interesting to see what happens because, remember new jersey is very close to new york city. everybody in new jersey is acutely aware of how these vaccine mandates not only hurt businesses in new york city but it is making the city unsafe. we're seeing yesterday thousands of police and firefighters who were laid off because of these mandates. so that's something to watch. jack ciattarelli has said that
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he will not have mask mandates for children in school. he says he will not do a vaccine mandate in general for the state. so, we will see if that tightened gap gets even tighter. i can tell you, if the republican wins, it will be like a earthquake politically speaking. stuart: yes, it is an earthquake if that happens. tell me, real fast, the book, you have a new book? >> yes. i have a new book. sean and i love christmas. we decided to write a book about christmas and traditions. at fox we're not afraid to say merry christmas. we don't want to cancel christmas. we love christmas. no wars on christmas here. we decided to write a book about our traditions, how much we love christmas, the birth of christ, what it means to our family. we decided to invite other fox friends of ours to tell their stories and their traditions. last night i hosted prime time fox news and fox business's maria bartiromo telling her story. there is a great book.
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no supply chain problems, stuart. it is made here in america. order it is a great gift. stuart: i would have put you on for the whole interview if you put me in the book? >> you're on. stuart: rachel, go back home to vote, please. watching you 7:00 weeknights at prime time. good stuff. get back to jeff flock in philadelphia. i wonder if he is hearing me. we're talking jeff, hope you can hear me, talking about cancellations for american airlines today. i'm saying this makes the traveling public very anxious not just in philadelphia but across the country. is there any sign that we'll get through this cancellation crisis of the airlines? >> it was supposed to be over yesterday. by the way i would never turn a deaf ear to varney. there you go sometimes i'm hard of hearing. they said it was going to be over yesterday but yesterday was another terrible day. today, by the way, i just checked, we're over 90 more cancellations for american today. yesterday it was almost 500
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cancellations. another 700 delays of american flights. that brings the total, starting last friday, over the halloween weekend to 2435. 2 1/2 thousand flights canceled by american. it's a staffing problem. they're in damage control this morning, stuart. they sent an email out to all american passengers, that sort of thing. they say they're bringing 1800 flight attendants back starting this week. they will hire 600 more in december. 4,000 pilots operations and maintenance guys by the fourth quarter. christmas, you know, people are freaking out, you're absolutely right. christmas could be in jeopardy in terms of getting where you want to go. stuart: jeff flock, thank you very much. we'll see you later. now this, this may be the political statement of the day. senator manchin slamming progressives for stalling on the infrastructure bill. roll tape. >> the political games have to stop. urge the house to vote and pass the bipartisan infrastructure
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bill. holding this bill has hostage is not going to work in getting my support for reconciliation bill. stuart: what do republicans do now? just sit back and let the democrats fight it out amongst themselves? we'll talk about it with sandra smith a little later in the show. talk about hypocrisy, world leaders flocked to the climate summit aboard their private jets. we'll cover that for you of course. the attorney general of west virginia is challenging the epa's authority. the supreme court agreed to hear his case. patrick morrissey next. ♪ ♪
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♪. stuart: well just look at that. is that not beautiful or what? that is carolina beach, north carolina. chilly, 67 degrees. don't see anybody swimming out there. great for a jog or a run right there. the markets still in kind of neutral i'd say i got green across the board but investors are waiting to see what the fed does and what they say tomorrow afternoon. how about under armour absolutely surging on strong earnings looking to the future. under armour says sales will rise 25%. that does it. under armour up 18%. the whole world seems to be looking for alternative energy sources. some experts say this thing
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called tidal energy. edward lawrence what is tidal energy and more reliable than solar and wind? reporter: in the shift to green technology, some maybe say windmills, solar doesn't work every part of the united states, not as reliable. this one company we found in scotland is turning to blue energy. they're using currents in order to create power. orbital marine power is using a prototype to power a town of 19,000 people in northern scotland. you see it there, turbines under the water creating that power. this tidal company using material and sources it uses in country. >> we are sourcing pretty much all of our materials for in the uk, if not european supply chain. that is different from a lot of sectors, you know, offshore wind and things. we're seeing them move their manufacturing to low-cost centers you know, in the far east, china and, and the middle
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east as well. reporter: so this technology can also be downsized to use for rivers and they're in talks with indonesia and canada to move into those countries. as the climate conference though here today president biden is announcing the most reliable and aggressive, the most aggressive regulations of the epa yet for new rules requiring oil and gas companies to cap methane leaks. now a crackdown on the industry has already seen spikes in prices in the u.s. still the president moving ahead with this. >> democracy is still the best way tore delivering results. that is my vision of the build back better world. reporter: and the president saying that the u.s. will help south africa close its coal plants earlier than expected. that from the climate conference, stu. stuart: edward, thanks very much. now let's bring in the attorney general of the state of west virginia, patrick morrissey
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joining us again. mr. attorney general, you're going to the supreme court to challenge the expanded the power of the epa. what exactly are you objecting to. >> absolutely. first of all, stuart, thank you for having me on. this case is obviously the super bowl in terms of what's in front of the court next year. it's a really big deal because it really goes to the heart of what president biden is trying to advance with this climate agenda. central to what president biden is trying to do is have an epa that has virtually unlimited authority to act over most aspects of american life, whether you're talking about power plants and buildings and many other areas which involve carbon emissions. they want to have the ability to decarbonize our country. we have argued, quite simply that the epa does not possess such authority. if biden wants to move forward with this. he has to work with congress to come up with a solution.
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he can't do it on hiss own. that he really can't burn the constitution in order to advance your goals. so we take it as very promising that the u.s. supreme court has heard, they're going to hear our case. we'll be arguing before them in february. while the decision in june. this will have a fundamental impact on the biden climate agenda and i'm very clear, anything you want to do in the space has to be done the right way, through the right legal and constitutional process. stuart: the president has just announced a measure which would limit methane leakage in american oil and gas wells. are you going after that as well? >> well historically we have. we were able to stop what president obama had tried to do in that area. now i think just came out today. i haven't had a chance to review the regulation yet but we do know whether you look at president obama, even president biden through his term in office they have been losing in court on a lot of their initiatives because it is a lot more bluster
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and it is not backed up by the law. i expect the same will be the case with respect to the methane rules. what they're trying to do to drive the cost of energy up through the roof. they're making it very hard on the american consumer. it seems to be a china first, america last policy. we're going to try to stop that whether the issue involves the expanded waters of the united states rule, the old clean power plant, the methane rule. it is important that this administration learn work through congress, act consistent with the constitutional rule of law, or you will lose in court. stuart: fair enough. mr. attorney general, thank you very much for being with us today. we wish you well. >> thank you so much. stuart: sports betting, huge and rapidly expanding. guess what, there is one more state added to the list of states which have sports betting. that's florida. we'll deal with it too. by the way, in just a two-month period florida's caseload for covid dropped to the lowest in
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the country. but you wouldn't know that from the media coverage. they're too focused on bashing governor desantis over vaccination rates. florida senator rick scott takes it all on next. ♪. as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage.
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i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones ♪ ♪ traveling has always been our passion, even with his parkinson's. but then he started seeing things that weren't there and believing things that weren't true. that worried us. during the course of their disease, around 50% of people with parkinson's may experience hallucinations or delusions. and these symptoms can get worse over time. nuplazid is the only approved medicine prescribed to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are
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known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the common side effects are swelling of the arms and legs and confusion. now this is something we want to see. don't wait. ask your healthcare provider about nuplazid. stuart: one hour worth of business. i see green but not much. the dow is up 26. nasdaq up 29. s&p up 11. now let's have a look at some of the movers. i want to start with dell. i remember dell. remember that? i will not call them old tech but it is pretty close. >> they're spinning out some newer tech, spun out vmware officially on its own. that is a cloud i.t. company. deutsche bank initiating coverage on vr mayor. 170 bucks. stuart: how does that work? they are spinning out vmware. susan: spun it out. vmware, by the way that is where
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the intel ceo used to work and head up before he moved over to intel as well. it's a great business with a lot of great leadership historically. stuart: dell is down 2.7%. not a big drop. tell me about zillow. susan: tell me what you think about this move as well. we're down 15% the last two sessions. zillow couldn't make it go of flipping business. they would buy homes. put up estimates how much the home is worth. that didn't work out for them. even i noticed on zillow, i noticed they were overpricing some of these homes they thought it was worth more than what people actually paid for it. they're shutting the program down. selling off 7,000 hopes for $2.8 billion. stuart: move your mic up a fraction. susan: trying to. game of ins. stuart: hair won't get into the mic. susan: stop. lucent. i wish we all had the problem.
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stuart: don't we all. tell me about lucent. 7% down. susan: rivian, doing ipo 25% backed by amazon. it will be worth 60 billion or so when it comes to valuation. isn't that incredible. i think there is competition. why i think lucid is down. i can't figure it out. cfra calling it a 50-dollar stock. stuart: snakeout of electric vehicles. susan: because tesla is wrong. stuart: diamond shamrock. i swear the script said diamond shamrock. susan: it is green. rallied today because they made more money. raising their dividend by 11%. what i found interesting that the ceo on the earnings call just said he plans for 10% inflation. 10% inflation. stuart: talking about oil?
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does oil, not overall inflation? susan: i don't know. he said the word 10% inflation. a lot of people said, oh my. stuart: you fixed your mic real well. i will fix my hair. take a look at this. this is an op-ed in "the wall street journal." media ignore florida covid recovery. senator rick scott is joining us from florida. mr. senator, they're crediting gavin newsom, governor of california for a similar turn around but they still vilify governor desantis. what's with that? you can't get, they just, it is pause you're republicans, that is what it is. >> absolutely. think about it. in our red states, what happened is, lower taxes, less regulation, not telling people you have to wear a mask all the time. let people make good decisions on their own it works. look at florida. we're open for business. people are out at the restaurants. we have more job creation, all these things, including lower covid cases. doing the right thing, reducing
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regulation works. stuart: we heard this morning speaker pelosi is scheduling a vote on thursday on the big, big, expensive package. you're shaking your head. i think this might become one of those, you got to pass it to see what's in it days. what do you think? >> well, first off, i mean the democrats are not thinking about what is going on out here. you talk to an average american here's what happened. their gas prices have skyrocketed. it costs so much money to fill up their car or truck. when they go to the grocery store food prices are way up. home prices are way up. people are selling their homes to move to lower cost place to live. and they want to spend more money. the democrats want to spend more money. what that is going to do is cause more inflation. they're out in left field. by the way, democrats want to do their job, take care of rich donors up in new york and out in california. they want to reduce their taxes but all the other rich they want to raise their taxes but not the
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rich in those states with this, state and local tax tee ducks, they want to reduce their taxes. fascinating even democrat running in florida, she wants florida taxpayers to have to pay more taxes so new york taxpayers pay less. i don't think that will be a winning issue in florida. stuart: talking about assault, repeal of assaulted, what you're talking about talking about s.a.l.t. here. stuart: have it just repeat for just two years, just two years to satisfy the moderate democrats. you would be very unhappy about that, wouldn't you? >> it is so unfair. why should florida taxpayers subsidize for new york or california government? that is all all that is. democrats say they want to tax the darn rich. not the rich that give them money in new york and california that write checks to those. don't want to hurt those. so democrats can get more money from them i guess. stuart: you realize i would love
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to have the repeal of s.a.l.t. because i benefit mightily because i live in new jersey. >> you also want to be fair. you know it is not fair for taxpayers in florida to pay part of your taxes. stuart: fair? i don't think so, senator. i don't think so. we leave it at that i have to do that. senator scott, always a pleasure. thank you very much for being with us, sir. >> bye-bye. stuart: time i moved i think. next case, the u.s. will begin allowing vaccinated tourists to enter by land starting monday. i guess that is from canada of course. i guess, are the canadians preparing to head south? lauren: florida, arizona, hot spots, literally for the sun, now that the bridge to the usa will be reopened starting on monday. we've seen a spike in demand for canadians looking to rent a vacation home in the u.s. they're driving their own cars here. why? rentals expensive. also hard to find. arizona is actually a top spot for younger canadian snowbirds.
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there is 500 canadian companies in arizona. so they can work and play at the same time. stuart: really? i didn't know that. lauren: by the way, i banned the word fair from not only my vocabulary from my children's as well. not allowed to say it's not fair. of course it's not fair. it's life. stuart: following on from senator scott right there. now we have a cdc panel that is meeting today to discuss pfizer's vaccine for children five to 11 years old. we'll tell you how soon children could be able to get the jab. a doctor in rhode island takes a stand against vaccine mandates and now that state, rhode island, will not let him see patients or practice medicine that doctor will join us next. ♪.
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stuart: still stuck in what i call neutral, up but not much. there is this. a cdc panel meets today to discuss vaccines for children five to 11 years old. they're expected to approve the pfizer jab. lauren: also lay out the plan for physically administering the shots for kids. 15 million doses. they have been shipped. they will be arriving in distribution centers the next few days with the plan to get them in childrens arms starting next week. this news obviously helped push pfizer to up its forecast for vaccine sales this year to $36 billion. stuart: a lot of parental anxiety about this. lauren: a lot of people are saying i'm not anti-vax. i don't want to be the first to raise my hand. stuart: i wonder a school district will say you got to do it. lauren: i don't think they can. with teenagers it's a little bit different, they want their freedom back.
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with kids five to 11 the parents are in the driver's seat there. stuart: got it, lauren. our next guest is a doctor hoe who opposes vaccine mandates. his state, rhode island will not let him practice medicine. he is with us now. they will not let you consider natural immunity. that is one of your problems here. >> that is correct. stuart: why won't the state allow consideration of natural immunity? >> well i have been practicing here for over 30 years. worked through the pandemic. i'm actually acquired covid. got pretty sick for a few days. recovered, quarantined and went back to work like many other health care providers around here. when the governor and the department of health issued a vaccine mandate for october 1st, i openly challenged that mandate. since then i have received a compliance order which prevents me from seeing patients. in addition to that, i have not had a hearing or due process to
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even state my case for naturally acquired immunity or any kind of medical exemption that i might have. it is very shameful. i'm sick and disheart inned about it. and also frustrated. like i said i've been practicing here for a long, long time. the health and safety of my patients or staff have never been compromised or jeopardized. like other health care workers we worked through the pandemic. i did quarantine. came back. lot of my taste for a few months but came back like many other health care providers. the state and the governor is refusing to accept naturally acquired immunity and my antibody -- stuart: what is your plan? i never heard such a draconian thing in all my life. stop you practicing medicine is draconian. what is your prann? what do you do now? >> this week i will file a
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temporary restraining order. injunctive relief. i'm sad that i have to do it. i will use the attorney also working on the mask mandate that is current going on, another pandemic mandate, and i will see injunctive relief. i want to practice again. stuart: in chicago, i think it's a federal judge delayed the mandate, delayed the mandate of the vaccine especially for police officers as i understand it. would you like to see nationwide a similar delay in enforcement ever the vaccine mandate? >> as we look at more of the science coming out, recognize acquired immunity, i would love to see that. again i want to practice. in a strange twist, a lot of the patients that i see are some of the state agencies, some of the patients are most vulnerable, dependent on society to take care of them. in the room i'm sitting in right now, i haven't seen a patient since october 1st.
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give you an example. one of those patients from rehabilitation institute came in recently, they literally had no arms and no legs and need ad tooth out which is something that i can do. i trained in a level-one trauma center at a hospital. i thank all my colleagues for giving me the training that has allowed me to do this rhode island for 34 years. i like to do that again. i feel like not practicing i abandoned my patient the, my staff, even my profession. so that is why i'm going to seek a temporary restraining order so that i can challenge the science and let the department of health and the governor recognize naturally acquired immunity to let me practice again. health of my patients has never been in question. stuart: we wish you well. we hope that you can come back to see us at some point in the future to see how you're going through this fight. dr. skoly you're all right. thanks for joining us. >> thank you very much.
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stuart: yes, sir. new york mayor's bill de blasio cannot run for re-election because of term limits. reportedly thinking about a run for governor. elise stefanik is here to comment next hour. an illinois judge delayed chicago's vaccine mandate after 21 police officers were put on no pay status for refusing to comply with the mandate. brian kilmeade deals with vaccine mandates after this. ♪. (naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first.
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(other money manager) so you do it because you have to? (naj) no, we do it because it's the right thing to do. we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility. (naj) one that we don't take lightly. it's why our fees are structured so we do better when our clients do better. fisher investments is clearly different. at t-mobile for business, unconventional thinking means we see things differently, so you can focus on what matters most. whether it's ensuring food arrives as fresh as when it departs... keeping crews connected as they help build communities... or providing patients the care they need, even at home. we are the leader in 5g and a partner who delivers exceptional customer support and facebook advertising, on us. network. support. value. no trade-offs. unconventional thinking, it's better for business.
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stuart: former nfl quarterback colin kaepernick is making headlines again. what did he say this time? lauren: in a new netflix documentary he compares the nfl draft to slavery. >> what they don't want you to understand, what is being established is a power dynamic. before they put you on the field teams poke, prod, and examine you. searching for any defect that
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might affect your performance. no boundary respected, no dignity left intact. lauren: before he became an advocate for social justice he made an average annual salary of $19 million a year. the average nfl player, $900,000 a year. 34 players, more than 20 million a years. stuart: i categorically the reject of comparison of slavery and the nfl draft. that is where i stand. 10:51 eastern. that means kilmeade is with us. brian, illinois judge sided with chicago's police union, granted a temporary restraining order which extends the vaccine mandate. are you on board with this, challenge all mandates everywhere? >> absolutely. i'm pro vaccine but antimandate. i will not tell stuart varney, we've been over this, tell you to get a vaccination. go to a doctor. i feel good about the research i did. in chicago, it is ultimate standoff. new york is a total mess.
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the judge ruled against all challenges. in chicago the judge ruled, basically stayed the order, you can't have this mandate in. but i want you to go talk to each other. don't expect me to give a verdict whether you can mandate city workers in chicago before the holidays. so it is back to work. what is interesting about chicago is they told the mayor, we're not even telling you our status. so they said really? no, we're not even telling you. in new york, cops got 84% vaccination rate, 77% for fdny. i think sanitation in between there somewhere. but these guys want 100% or nothing. why you have 10, 12,000 people staying home, calling in sick, 2600. that is why you have about 18 firehouses under duress. you have detectives walking the beat. why you have a volunteer firefighters getting invitations from fdny to come in and work. really? volunteer firefighters, volunteer for a reason. they usually have other jobs. they're not going to cross the line of other firefighters who are simply saying, do a test.
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don't make me get vaccination. what about antibody tests to see if i have natural immunity? stuart: come on, relax, rye lax. this is no time for mandates. >> why start a fight? stuart: why start a fight, exactly right. ask you about a new book, another book from kilmeade. the president and the freedom fighter on your screens right now. you have a minute at least to tell me about it. >> what are we talking about today? terry mcauliffe. what did he bring up today? we need more black teachers in virginia. what is condoleeza rice fighting on "the view" about? about race. go back to talk about two success stories in american history. frederick frederick douglass has statues all over in europe. from ireland and germany a successful lecturer in london. he talked about the need for equality. he talked about the need for freedom. he wanted to get rid of slavery. he was willing to fight to do
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it. what he went through along with lincoln, parallel, they eventually came together for a brief period of time, our nation benefited enormously. how they worked together in the en, but they criticized during the process. i thought that would be a story that america could embrace, give us perspective where we were. there was slavery throughout the world. all seven continents, not just in america. 350,000 slave owners, seven million slaves. we fought a war to rid ourselves of it. we're not a perfect country. it is time for us to chronicle success we have along the way as we get closer and closer. the most successful multicultural society in the history of man. stop tearing each other apart. stuart: brian, exactly right. stop tearing the country apart. stop making out that america is a bad place a wicked place. stop doing that. don't paint that picture. it is just the wrong way to go. i reject it utterly. in fact i don't think, i don't think american race relations if
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i can say this i don't think they're bad. i just don't think that, not from my perspective, that is not what i see. >> it is not how i feel when you talk to shelby steele, 19 '60s civil rights activist who endorsed this book. he said we fix ad lot of our problems. let's work to fix them all, together, not by vilifying people that lived 200 years ago or blaming them for sins of the past. stuart, you got here recently. my parents came, my family on both sides came at the turn of the 20th century. so from other countries. so not only don't i have relatives that were part of this, i wasn't even here as a part of it. i embrace american history. i can't take credit for benjamin franklin, or discredit as a slave owner as horrible that is. founding fathers were not perfect but a product of their times. lincoln said things that would make your skin crawl but he ran on abolitionist platform.
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first time he was telling the south come back in, keep the slaves. we'll work stuff out. we evolved as a people and a country. stuart: we evolve as a people and a country. food stuff. i got your book. i will read it soon. >> i will sign it. stuart: thank you, brian kilmeade. still ahead on this program today, sandra smith, florida congressman byron donalds, former mcdonald's usa president ed rensi and congresswoman elise stefanik. all eyes on the virginia governors race, it should have been a shoo-in for terry mcauliffe but he upset too many parents on his comments on education but an unknown republican has an edge. this amounts to a political earthquake. my take on that next. ♪.
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range >> he would have a disastrous negative impact on the economy. whenever you raise taxes on corporations including small business and large business you are impacting the middle-class. this will have a very negative impact. >> the only thing to date they can agree on is on do anything trump did.
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then they say they will ride their big horse and save you from a problem. i've had enough. >> what happened in virginia is not about the two candidates but moms and dads following. this is a revolution that will take over the country. >> new jersey if the republican wins it will be like an earthquake politically speaking. stuart: it is 11:0 one eastern time. we are beginning to move up. stock prices creeping higher. the dow industrials up 82 points, nasdaq is up 48. earlier this morning we have new intraday highs for the nasdaq and the s&p. moving onto big tech most are
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higher except amazon, microsoft hit a new intraday high. i will single out apple, reportedly shifting focus from ipads to iphones. they had problems with the chip supply, stock reached 150. tesla, hertz says tesla has started delivering vehicles to their fleet. musk had said earlier that tesla has not signed that contract definitively. tesla is down 2%, 1182 is the stock price and musk is worth $325 billion. now this. rarely has an election for governor had such significance, the center of attention is virginia. this race should have been a shoe in for terry mcauliffe but it is not. he may lose. he upset many suburban parents with his comments on education. last night he said the state needs more black teachers to racially rebound. he has struggled to be in the
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party headed by president biden whose approval rating has tanked was when biden did stuff for him mcauliffe's support dropped sharply. very telling. in a state which biden won by ten points, one year later, an unknown republican has the edge. that speaks volumes about the democrats an ability to understand what voters are concerned about, race and welfare are a turnoff. of glenn youngin windsor comes close the democrats's game plan for next year goes out the window and so does the biden/harris reelection of 2024. the other election is in new jersey, deep blue state. the current governor is democrat phil murphy. in may of this year he had a 26 point lead over his republican challenger. that lead is 7 points. if jack jack ciarrarelli gets
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that close in the tally there will be the same repercussions as in virginia. democrats started to fall apart with afghanistan, then came the border and crime and defund the police and shortages, and a befuddled president who actually nodded off at the climate conference. today's elections are literally a wake-up call for the democrats. third hour of "varney and company" just getting started. let's get to the markets real fast. we are up 80 points, the s&p is up 16, nasdaq up 50. it has been a gradual march to higher ground throughout the day. markets pausing because there is a fed announcement tomorrow about interest rate policy, a big deal on wall street. tomorrow you get the definitive
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word, then the market might move. sandra smith joins me, welcome to the show. we are covering the big race in virginia. fascinating interview with glenn youngkin. stuart: tell me what he said. a bit from the interview. >> this is about government going to work for virginians and getting taxes down and making sure we have great schools and safe communities and these issues impact people's lives every single day. >> if you're an accomplished business guy we asked him what lessons can be learned if he comes out of this victorious. when you look at how he played donald trump in this race because republicans have a lot to learn about how to move forward a post donald trump era and there was a great piece,
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glenn youngkin if he wins this race shows how you can not insult the former president but not have him at your side in your campaign so that is interesting. all along he has been able to narrow this race. a month ago terry mcauliffe was almost a shoe in. this is a race that is fascinating to watch how it plays out. what do you believe will be the defining issue in this race? he said education. there was the moment that parents should not have a say, paraphrasing, kids learning in the classroom should be left up to the teachers. glenn youngkin ran with a message. it's not just an issue in loudoun county, this is what parents are dealing with across the nation. after covid there's a learning
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gap, parents want their kids learning in the classroom. they want politics out of it. stuart: speaker pelosi is saying she wants to vote thursday this week on a gigantic spending plan. they have to throw everything into that and pass it without knowing what is in it. they are going to do that. what happens if youngkin wins in virginia? doesn't that send an enormous we strong message to the congress that we are not having this? >> momentum will be on the republican side. stuart: it could kill the spending bill was youngkin, it could kill -- >> to give information nancy pelosi said that and could get somewhere with all this today. joe manchin when he spoke at 2:00 eastern time during my program he said he needs a congressional floor on this. there needs to be a scorecard. we need to know how much this is going to cost although democrats say it will cost you nothing. the latest estimate i just saw
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from the budget committee is a 10 to 2 week timeline for a congressional budget office, joe manchin doesn't want to vote on this until he knows how much it will cost. why would anybody think this is happening today or this week? stuart: a sticking point - i really am big on that. state and local taxes, against your federal return, democrats are talking about repealing it for two years. that would allow rich democrat donors in new york and new jersey to get a huge tax break. >> we were talking about this this morning. how many more are there grabbing the headlines that aren't out there publicly throwing a wrench in this? it is a good question to ask. stuart: kristen sinema. joe modesta of montana.
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>> throw some other names out. that being said, education would be the defining issue but when you look at the polling almost equal with education it is the economy. they felt restricted during the pandemic, glenn youngkin promised he will be business related open the doors again, he will get business back to life in that state. an important message, and lower tax policy talk on the campaign trail and that is working. stuart: i am staying late. dying to see them. great stuff. we will be watching with you between 1:00 and 3:00, america reports. back to the markets, let's bring in mike murphy. i want to talk tesla.
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it came down after musk said the deal with hertz has not been signed yet. are you a musk fan? never asked you. >> we discussed it a bit. i'm a huge elon musk fan in that i respect everything he has done. he's been a visionary since the paypal days. i don't own the stock. i miss the 33% move in the last couple weeks but he is a wealth creator, visionary is one of a kind, more power to him. i own a tesla but don't own stock. stuart: you like it? >> i love it. stuart: is it the best car you have ever driven? >> it is different than anything. the model x is a small car but fits 7 people. the way you can interact with the car through your phone is a glimpse of the future, what it will be like. stuart: have you guys made a pick in the electric vehicle
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market. >> we haven't in straight ed but a lot of companies in the battery type space and delivery vehicles are electric that will bring things like groceries and packages theodore but we stayed away from the electric vehicles and electric is the winner in the space and the risk to tesla is from the existing auto manufacturers, ford and gm but looks like musk has gotten such a leader will be interesting to see if anyone can catch them. stuart: the rally continues. thanks for being here today. one of football's biggest stars is turning part of his salary into bitcoin. also giving away $1 million of crypto to his fans. the media praised governor gavin newsom for controlling
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covid in california but stayed silent when governor desantis did the same in florida. we will pay the highest taxes in the world if president biden gets his way. not just a tax on the rich. we are breaking down the numbers right after this. ♪♪ and became a new tradition. this is financial security. and lincoln financial solutions will help you get there as you plan, protect and retire. ♪ ♪ there are beautiful ideas that remain in the dark.
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and save money while you're at it with special offers just for movers at stuart: the president's spending plan could send income tax rates soaring to some of the highest in the world.
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hillary vaughan on capitol hill, are these tax hikes just for the superrich? >> they are going to impact people from the very top to the mid range but also the impact of tax hikes on the rich, on big business is ultimately going to trickle down to workers. that is what the tax foundation analysis finds, when you raise taxes it hurts american competitiveness. the tax hikes all tallied together including state and local taxes would mean the us would have the highest top personal income tax in the entire world making it 57.4%. that would push the us ahead of denmark and japan and that means it is the least competitive place to do business and to make money. all 50 states including dc would have top tax rates on personal income exceed 50%. eight states would have top tax
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retired than 60%. the highest of those, new york and california, 66, 64% but even in states that don't have income taxes like florida and nevada would see a top rate of 51.4%. the bottom line in this analysis is they say when you tax millionaires and billionaires, unless those rich people are reclusive, hold up in their homes, not spending their money or investing in businesses, then that is the only weight is not going to impact other people but people are millionaires and billionaires for a reason. they have companies, they make things, they employ people. at the end of the day, there is a disincentive for them to be here, they are going to go somewhere else, and those jobs go with them. stuart: thanks very much. congressman byron donalds from the state of florida joins us now, good to have byron back. i know you are against the democrats spending plan.
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what are you going to do to stop them? >> we will be holding a press conference, we have 25 members of the republican conference who will explain details of what the plan does to the country, which is catastrophic, the massive social spent a, massive climate change spending which nobody cares about, even president biden doesn't seem to care about it, he can't stay awake during the climate change speech, destructive of our economy, it will hurt small businesses, it will hurt large businesses and that always trickles down to fixed income seniors and working families in our country. it is a disaster, we oppose and are not going to go quietly while they don't have something to cut. we will explain why this is wrong for the country. stuart: nancy pelosi wants of a big spending plan thursday of this week. we don't know how much it will
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cost or how much - you have to pass it to see what is in it moment just like obamacare. can you stop it. >> elections do have consequences, they think they have the votes. she runs the chamber but if she has vote on this bill specifically she would've called the votes already. the reason she can't is they are bringing the conference together. we are not going to help them on our side of the aisle because these ideas are terrible for our economy but if they don't have it now, if they had the votes today i would be on the floor voting no against this monstrosity right now she is throwing out goalposts, moved this boat five times, she said she wanted to call a vote and had to move it. we are trying to keep the pressure off because forget the politics, forget republicans and democrats, small business
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owners whether they live in a blue county or red country understand one thing, this will make it harder for them to do business and harder for them to get employees which is hard enough as it is. this bill must die and must die immediately. stuart: florida never gets a good break. i am going to show you the journal's headline on the show. media ignore florida covid recovery. journalists credit gavin newsom for similar turnarounds that won't stop vilifying ron to santos. california, wonderful, florida does the same thing, reduces the covid count and they are all over you. because you are republicans. >> you said it better than i could. everybody knows your show is awesome but the truth of the matter is most of these media outlets absolutely suck. they don't tell the truth. they are holding up the dems
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anytime they can. ron desantis has been the greatest governor in our country when it comes to covid 19, we want the two peaks come our economy has been strong, throughout, we have been able to bring more people into our state from new york, from massachusetts, they haven't brother politics with them, they brought themselves and it is great for our state because that is we are the free state of florida, we have shown an ability to manage the pandemic while allowing people to thrive, prosper and live. if you can lead like that in america you care about it but the new york times, the washington post and big media could care less because they are in the tank for the democrats and everybody knows it. stuart: anytime you want to appear on the show you if you're on the show, you are in. see you soon. now this. online betting continues to expand. ashley is back. welcome back. this expansion in sports betting expanding to florida next. ashley: yes it is.
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the seminole tribe has launched online sports betting in florida after a compact was reached with governor ron desantis. it allows players to download an apps, make deposits and place wages on pro football hockey, soccer, plenty of other sports. all the online bets will run through computer servers on - $2.5 billion to the state over the first 5 years of the 30 year agreement but the deal is being challenged in federal court by competing casinos in florida who claim the plan violates federal laws and devastating impact on their business? stuart: everybody wants into the sports betting business in florida. we have a football star who wants to take part of his
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salary in bitcoin. ashley: we are talking the guy on tv, aaron rogers, star quarterback of the green bay packers says he will get a portion of his wages paid in bitcoin but frustratingly we don't know how much. rogers earns $33.5 million per season. if he put 25% of it into bitcoin he would get 130 bitcoin apps at the current price. the move part of his promotion with cash apps, the mobile payment company backed by jack dorsey's square. rogers announcing he will give away $1 million of bitcoin. winners will be chosen at random and will win $100 in bitcoin. that is like 160 third of the bitcoin or something like that but it is something. stuart: you didn't expect math on the show this morning. ashley: it was terrible. quick check of the markets still up pretty much across the board, modest gains all around.
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a minnesota bar was shutdown for refusing to comply with covid orders. now the bar's owner says she's lost everything except her house. they seized a lot of her property. she is on the show next. next time you head to the mcdonald's drive-through a robot could take your order. is this the end of fast food counter hands. we will cover it next. ♪♪ i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time,
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♪ ♪ ♪ ♪
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♪ ♪ ♪ ♪ stuart: enough a lot of sky, 43 degrees and absolutely beautiful. >> he is a sunshine fan. susan, you are with us and have movers. is a vespa stock of the day? >> have you looked at this?
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up 114%, one -- 200%, this has become a meme stock with its meme moments, biggest jump since 1984 ipo. can you believe this, tripling in one session, halted volatility 11 times so far and the retail readit crowd, will follow hurts in buying more electric cars. they are piling in. short interest, charlie brady have a great statistic looking at short interest in avis increased by 40% since july. this is the game stop trade. when people are focused short. stuart: i will keep it as the meme stock of the day. >> the stock of the day, single-handedly driving down transports up 7% with this near
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200% rally. stuart: sort out the hertz and tesla story. >> that's why the budget is rallying. when you look at hurts, they are accepting tesla cars, part of the 100,000 they are adding, elon musk tweeting the modifying deal and hurts is not getting a discount on those tesla cars. analysts were wondering about margins if they are giving away these cars at a discount when we have other back orders to fill. stuart: talk to me about google. for stock of that size it is doing well, nearly 2%. >> nvidia is the chip king. they will supply chips for the new meta-verse we will all be living in. stuart: in my experience as opposed to looking at them on the phone.
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>> why wouldn't you want to live in a world where you are richer, better looking, happier, and don't have to leave your house. >> because it is fake. >> not think it is good but that is the trend for the future and i to show you if we bring up the crypto stocks because ethereum hit a record high this morning, robin hood, interesting that robin hood was reiterated as by this morning, ethereum crossed 44, higher, doesn't it say there is so much money out there, look at the stimulus and money printing, if you print $2 trillion more, what does that mean? stuart: we haven't got it on the screen but eth either. >> a great skilled truck. stuart: a stock like buying into a stock. >> non-etf, giving access to sliver, the 200,000 bitcoins and ethereum.
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stuart: so when ethereum goes up it goes up, a record high this morning. the dow was up 113 points. in and out burger chain, closing more dining rooms in california. they don't want to enforce the vaccine mandate to indoor dining. a restaurant guy has run big chains. is in and out doing the right thing? >> under the circumstances, closing down dining rooms to comply with the law makes sense but the whole thing is ridiculous because when you look at the number of people in california that have had covid and survived, look at the number of people who have been vaccinated and the children who are not eligible for these vaccinations you have 85%, to put this kind of burden on restaurants and small
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businesses it is all small businesses. a very fine company, a situation where you have a shortage of people, have to station somebody at the door, compare the drivers license and then checks are vaccinated. the young people are trained to do that kind of thing. you have to train them how to do it and get combat if, customers don't want to supply the information and it creates tension that doesn't need to exist. florida has a greatly reduced covid infection rate. in california, has been severely locked down, to bring covid under control, nowhere
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near as effective as what desantis has done in florida. it flies in the face of logic, common sense and intelligence particularly when you have a high immunity rate. i don't know what happens to hurt immunity, what happened to wearing masks, washing your hands, keep your hands off your face, social distance, in and out burger complied with all of that, they are not the source of infection. stuart: i to to add one more thing to this. they tackle runs 25 applebee's in the metro area. when they imposed the mandate of the vaccination car before you get in the restaurant his business went down 20%. people don't want to do it. >> i flew in from mexico recently. they are easy to copy. stuart: ibm and mcdonald's partnering to use artificial intelligence for customers drive-through orders. is this the start of the end of fast food counter hands? >> i don't think so.
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there's always going to be a need for personal touch in the hospitality but it will make things more efficient particularly in a labor shortage. i know of a number of companies, to do this very same thing, mcdonald's was intelligent selling off development of that product. it is a rapid trial and error, we speak of a different accent and the computer takes a while to understand that. facial recognition or voice management in any way, shape or form. it was a smart move, they should stay in business. stuart: thanks for seeing us. amazon just made a change to covid restrictions at their warehouses. we have the story, quite a change.
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9000 workers put on unpaid leave is new york city begins enforcing the vaccine mandates. rules be turned back? i will ask new york congresswoman elise stefanik. ♪♪ ♪ ♪ ♪ ♪ it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions
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♪♪ a mister spaceman ♪♪ won't you please take me a long ♪♪ and i won't do anything wrong ♪♪ stuart: you are opening a port and ever, florida on the space coast. news from amazon, they will launch their own internet satellite. does this mean amazon could be my internet provider through their own satellites? ashley: yes indeed. in the fourth quarter of next
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year amazon filed a request to launch the first two prototype satellites, project skype are is the plan to build a network of 3000 satellites in orbit which will provide high-speed internet anywhere in the world, the plan got the green light from the fcc last year. amazon plans to invest $10 billion in q upper with early service when they have 570 satellites in orbit, not why that number. amazon partnering with verizon to collaborate with the project will go into to do with space x's darling network which is further along in the battle to provide broadband satellite, the internet is going into space. stuart: i don't need the cable company. fully vaccinated warehouse workers will no longer be required to wear face masks unless federal, state or local laws say otherwise.
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there are 9000 city workers on unpaid leave as new york starts enforcing its vaccine mandate. congresswoman elise stefanik joined me now. can these mandates, do you have the authority is someone in congress to turn these mandates around, relax them or stop them? >> republicans in congress oppose even constitutional mandates, democrats have a majority in the house and need to feel pressure they don't support these vaccine mandates. these should be challenged in court as well but when republicans win back the majority next november we will oppose these mandates because we see the impact in new york state whether it is fire department officials are first responders. stuart: it is too late. you can't change -- it is too late, you can't wait until november, we've got to wait until november of next year to make a political change the
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damage is being done right now. anything you can do to mitigate the damage? >> we will support challenges in the courts, we filed legislation opposing any unconstitutional vaccine mandates and frankly new york city residents need to stand up and speak out about the negative impact on public safety, response times for fire department and public health. there are two hospitals in my district that have closed their maternity wards because of the unconstitutional vaccine mandate so we introduced vaccination. every republican as opposed to vaccine mandates and we need to make sure democrat elected officials feel this pressure because this is an authoritarian policy. stuart: you represent new york state, the new york post reports mayor bill deblasio, mayor of new york city plans to run for governor of new york state. would you like to comment? >> mayor deblasio's field leadership speaks for itself
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whether it is the skyrocketing crime rates, his attack on police, efforts to defund the nypd or the authoritarian leadership when it comes to these mandates. he's bad for new york and new york city. he is the worst mayor in america. stuart: the first human is a real election in new york state, any chance the republican candidate like glenn youngkin could do the same in new york against a democrat candidate? what is the trend in voting in new york state now? >> i believe we have the greatest opportunity to win back the governor's mentioned, great republican candidates was i to highlight lee's old and who won the endorsement from republican parties across the state. new yorkers are waking up, not
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just republican registered new yorkers the democrats and independents, have seen the failed leadership whether it is the taxes, regulation or policies like the vaccine mandate as there is a democratic primary, when they are running running to the far left and embracing socialism you have mayor deblasio and kathy hogle. every day new yorkers need to stand up and what we see the shoes matter. the american people are fed up with these policies and i feel good about virginia tonight. turn out to vote for glenn youngkin. stuart: you are not happy about the rising cost of thanksgiving dinner. i hear this. are you doing anything about it? >> yes. we are opposing the massive trillion dollar spending package. this country is facing and inflation crisis because they failed tax and spend policies, the most expensive thanksgiving dinner in our nation's history, joe biden yesterday tax, we will make sure american knows about failed democrat policies and failed leadership from president biden. they are paying more, turkey
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tax because of inflation. we one congresswoman elise stefanik, we packed a lot in, thanks for joining us today. i will give you a sense of the market by showing you the dow 30, and even split with fewer winners than loses. a solid rally coming on. the dow is above 36,000. do you remember this bar owner in minnesota? she was sued for defying shutdown orders. >> we were left with no choice, no way we could lose 6 months. stuart: months later that lady says the state is on a witch hunt and have taken almost everything she has. she is on the show again next. ♪♪
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stuart: i tell you this is something. a new study shows indoor vaccine mandates are crushing businesses and new york city's restaurant. give me the numbers.
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ashley: they are crushing 67% of new york city restaurants lost customers because of the vaccine mandate according to data from open table that says table reservations in new york remain 43% below 2019 levels. restaurants battling defined -- declining staffing levels and adding costs for labor, equipment and commodities and winter weather soon going to make outdoor dining a challenge. on top of that close to 40% of restaurant operators say their staff is spread too thin to easily enforce the vaccine mandate and the industry facing in exodus, workers were quitting due to harassment from diners who are upset because of the mandates because they don't want to be forced to be vaccinated. this is a true true emergency for restaurants. stuart: down 67%. now this. lisa monet joined us in january, she was sued by minneapolis for staying open despite covid restrictions.
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now although the state has reopened she said they are trying to seize her personal property. lisa monet joined me again. i need an update. i believe your bar is still closed and you tried to sell it. what happened when you tried to sell it. >> that the permit of health refused to issue a food service license even though we weren't in violation of anything except executive mandate to close our restaurant. originally they suspended our license for 60 days and refused to issue 2021. i was found in contempt of court, served two temporary injunction. the state came in and blocked our sales in any money we got from the sale of our restaurants in anticipation of the winning the lawsuit against the restaurant.
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stuart: on what grounds are they seizing your personal property. they've got your house but have taken everything else. >> they send modification to our lawyers to name me personally in the lawsuit, and take on personal property and in anticipation of the winning the lawsuit against me. stuart: why are they bringing down the hammer on you. have you done something really bad though we don't know about? are they trying to ruin you? >> they already ruined me, now they are trying to ruin me on a personal level, lost two restaurants fighting the mandate for two weeks. it is because so strongly against them. most of the other restaurants still in litigation, have two lawsuit against me, one from the attorney general and one from the minnesota permit of health. almost every other restaurants, received 10 of us the fatwas they all settled for suspension of licensing. stuart: have you got a good
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lawyer? >> we fired our lawyer we had and hired a new lawyer, and he is fighting both lawsuit and anticipate it is going to the supreme court because the state level won't fight in favor of us. stuart: we are glad you are back on the program, very sad you are in such dire straits and wish you the best. give us an update on anything that happens to you and your restaurant business. >> thank you for having me. stuart: the trivia question, who was the world's first billionaire? back after this.
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i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones stuart: here's the question. who was the world's first billionaire? guarranty it was an american. the answer is yes, john d. rockefeller, the founder of standard oil. he made his first billion by september of 1916. first billionaire. i think we found the stock of the day. we found a new meme stock. who would have thought avis, the rental car, who would have thought they would become a meme stock. that is exactly what they have become. up 81%.
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$139. earlier it was up over 200%. why? because the reddit crowd is all over it and buying it, pumping it up. it is a meme stoke. tesla way down, 3% lower. elon musk says they haven't actually signed the contract with hertz foredelivery of 300 vehicles. time is up for me. neil, it is yours. neil: thank you very much, stuart. we're following all the anomalies. big, big campaigns going on throughout the country today. certainly focusing what is happening in virginia and in new york and of course new york city. mayoral race. don't forget about new jersey. we're focusing as well on very big guests, we'll weigh in on what is at stake today, including former secretary of state henry kissinger, why what the president is doing halfway around the world committing all countries to spend a lot of money. he has his doubts whether


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