tv Varney Company FOX Business November 26, 2021 9:00am-12:00pm EST
stocks, the covid stocks. it may not last. i'm sure next week we'll see something different. dagen: james, real quick, your final thought. >> yeah, panicking is never if helpful whether it's investing or dealing with covid or anything else. this too shall pass. dagen: right. the government panicking with the reaction that does nothing except crush the economy and people's lives and livelihoods. thank you both, gentlemen, james and joel. "varney & co." is up, david asman -- david: hey there. good morning to you, i'm david asman in for stuart varney. futures taking a nose dive after news of a pennsylvania-spreading -- fast-spreading covid variant in south africa. britain has suspended flights to six african countries amid the news. world health organization has called a special meeting to discuss new variant. oil is dropping well below $80 on
on the news. and another safe haven, gold, rising above $1800 an ounce once again. in just a moment, former president donald trump will join me live. i'm going to be the asking him about new worries over the virus, the variant, and i'm also going to ask him about inflation, rising energy prices, 2024 and much, much more. and crime, clearly, out of control all over the nation. more looting at high-end stores many california. security guards pepper sprayed as brazen thieves smash and grab pricey items. we have the very latest on that. it's a big show, folks. we've got charlie hurt, congresswoman cath cammack and harmeet dhillon all here. plus, president trump just moments away. it's the friday, november 26th. "varney & co." is about to begin. ♪ ♪ ♪
david: and let's check those the futures -- ♪ out in the street -- david: all right. let's check futures reacting to reports of a new covid variant that has been discovered in south africa. let's take a look at how other sectors are reacting starting with the vaccine makers. as you can see, moderna getting a big jump. poiser though, of course, with that -- pfizer, of course, with that new therapeutic pill as well as the vaccines, that's up over 6%. biontech up over 8%, so a big jump on those. and, of course, the opposite side of those areas of the economy that could be hurt by all this news, cruise lines way down, airlines down as well. we have them down 6, 5, 7%. here are some of the winners, the stay the at home stocks,
zoom, netflix and peloton. of course, peloton had been down severely as a result of people going back to the gyms but, in fact, if there is a new variant, we may well have problems with people going to gyms again. as we wait for president trump, i want to bring in charlie hurt to talk about the donald trump and the elections and this new variant. you know, it's extraordinary, charlie, that president biden campaigned on what president trump had been doing with the pandemic and suggesting that it was if not all his fault, at least partially so. well, in fact, the numbers of dead as a result of covid are greater now in 2021 since biden has been president than they were when it first came out and when trump was president in 2020. >> well, you know, david, it really is astonishing to think that the, honestly, that anybody would even think -- you know, i get how nasty politics is, but
anybody would even think of trying to use something like a pandemic as a political cudgel, but that's exactly what joe biden did. and, of course, he did it, and we're now seeing that, you know, everything that he said was all for political purposes. he didn't have a plan. and if he did have a plan, it's not working because things are getting worse. but the other aspect of all this, of course, is the degree to which the media has managed to distort this issue and, you know, it's all the political media, the mainstream political media that has also distorted our politics for years now. you hardly ever hear anybody, where are the great front page new york times front page stories about how covid is still ravaging the world? where are all the tickers on cnn and msnbc showing the death count? you know, all of that was for political reasons. and i hope people remember that because it's not healthy for our democracy -- they've david no.
>> -- and the only way to get around it is for people to learn to ignore that stuff. david: charlie, stay with us. joining me now is the 45th president of united states, donald trump. mr. president, great to have you. happy thanksgiving, mr. president, and to your family. thank you very much for joining us. >> thank you very much, david. david: appreciate it. let's get to the news of this new variant. we can see on bottom right of our screen the dow futures are down over 800 points. your thought abouts about this new variant -- thoughts about this new variant and its effect on market. >> well, we had an election, and we did very well, got 12 million more votes than the first time. everybody said biden, who failed with the h1n1, you know what that is, right? david: yeah. >> everyone said, oh, biden's going to solve the problem, and a lot of people voted on it for that. we did a great job including coming up with the vaccines in 9 months instead of 12 years which a lot of people thought it would
take. and they all said, oh, he's going to be to great even though he failed sod badly on the first one. as you brilliantly reported, and you are a great, you are a great guy, by the way, david, and a great reporter, you really are. david: thank you. >> i love watching you, i have to say that. i'll give you a little plug, but it's true. david: thank you very much. >> as they said, he was really going to straighten it out, and that hasn't worked out. and as you report a lot and a lot of people are, actually, having to do it not that they want to, but they lost more people this year than they did last year despite the fact that we have all of the vaccines. he's been so ineffective in doing his job. david: let me bring you all back, you, mr. president, and our viewers as well to something biden said during the debates in 2020 the about the virus and your role in it and what he thought about it. let me roll tape and get your reaction. >> sure. >> 220,000 the americans dead.
you hear nothing else i say tonight the, do this: anyone who's responsible for not taking control, in fact, not saying i take no responsibility initially, anyone who's responsible for that many deaths should not remain as president of united states of america. david: mr. president, as you just mentioned, we have more deaths now than we did during your presidency because of what's happened recently. by biden's own standard, he should not remain as president. that's what he said. do you think he should resign? >> well, it's significantly more deaths. and that, as i said before, that's despite all of the vaccines and therapeutics, regeneron, there's so many therapeutics. so despite that. and because they don't trust him, people don't want to get the vaccine because, if you remember, i didn't have any problem. we were doing very well, over a million a day. and now the opposite, everybody were clamoring for it.
he did a pause. they called it a pause on johnson & johnson over six people that didn't die, by the way, but over six people they did a pause, and that that was a disaster because everybody saw that, you know, they used that. but, no, he made that statement during the debate. i thought it was a horrible statement to make, an unhumane statement to make -- inhumane. and i couldn't believe it. but i let it go. look, i wanted him to be successful on the whole thing, on covid or, as i call it, the china virus. i wanted him to be successful. he's been totally unsuccessful. it's a disaster, what's happened. and now it comes back yet again. and, you know, you look at these death numbers and, remember, they used to -- your friends over at cnn and msnbc, they used to have a death can watch every time somebody died, they put it down. you know, people would die of the flu, and they put it down to covid. david: yes.
>> we have very low flu numbers, you know why? they put it could be to covid numbers which is ridiculous. i think it's a terrible thing that he said, and i think he's done a terrible job on the coronavirus. david: well, and there's also been the issue of the vaccine mandates. clearly, the vaccine mandates have not been successful in bringing down these numbers. biden said, by the way, that he would never institute vaccine mandates when he was running for president. he went ahead and did it and is now defying the courts. what do you think of vaccine mandates? >> i don't like 'em, but i think we should -- look, i took it. i took the vaccine. i was proud to do it. somebody said, oh, sir, maybe, you know, it's a little controversial, don't mention -- no, just the opposite. i'm very proud. we did something in nine months, less than nine months that wasn't doable in five years. fauci said until take more than five years and who knows if it's going to work.
it really works well, and even the people that get it, they don't end up going to the hospital and don't die. david: right. >> sometimes the person will -- very rarely, people get it, they make a big deal out of it, but they don't die. they don't go to the hospital even. it's a great thing that we did and, you know, i'm never going to disown it. i think we saved tens of millions of people all over the world. that. david: the mandate it you don't approve of. >> no, i don't approve of it. i want people to go out and get it, but i don't want to force it into them. the other thing you're not given crept for, that they're not giving credit for, somebody has the problem and they get better, they're really very immune. but we don't hear credit for that. you know, in certain places like in new york and other places you can't go anywhere. you know, you should have a card -- if they're going to give cards out, which is crazy, but if they're going to give cards out, david, if you've had it and
get better, you're not going to have it. or, if the most part, if you get it, it's going to be, again, very mild by comparison. dave david well, in fact, they do can exactly that in places like europe where you if you can prove you have the natural antibodies, you don't have to get vaccinated. the number one issue concerning americans, president biden blames it all on the pandemic. he blames inflation and the supply chain problems on the pandemic. americans, however, have a different take. 67% of voters blame president biden's policies for the inflation that we are now suffering from. do americans have it right here, mr. president? >> the americans have it totally right. and, frankly, the pandemic, if you think about it, probably brings it down because you can't really get your economy running to the extent and, therefore, you're using less. so ill think the pandemic at a certain rate might bring inflation down as opposed to
elevating it. i saw him make that statement. it's just another incorrect statement. but when you look at what's taken place, when you look at all of these supply chains, we never even herald the word supply chains when i was president. that was not even something that i remember even listening to a hearing. what they've done is a lot of these mandates have caused the supply chain problem. in that way i guess you could say that, you know, what's happening is people are quitting their jobs all over the place. you look at police in new york, you look at the police all over where they refuse to get in democrat areas, by the way, i have to say that. that's where the crime is, and that's where the police departments are being decimated by the mandate. and many other businesses are being decimated by mandates. so, you know, it's a terribl foolish. i have to say, and you said this, david, i know this, very importantly what they've done to energy and energy prices is causing a tremendous amount of
inflation. david: right. >> western energy independent. -- we were energy independent. i was down to $1.78 for gasoline, and i left at about $1.86 a gallon, and i was actually worried about industry. i had to get it up a little bit because we had so much is. we were bigger than saudi arabia or russia. we were energy independent. and within a year, i would have been bigger than saudi arabia and russia combined. david: wow. >> and now going back to them and opec and begging for oil. david: well, the strange thing is, mr. president, at the same time we're asking the russians and opec to increase their oil supply to bring prices down a bit, we're shutting off pipelines in the united states. so, and they produce oil and gas in a much dirtier way than we do. so if you care about the environment, shouldn't we be encouraging u.s. production rather than saudi and russian
production in. >> well, you know, they lied about so much. he lied about mandates, they lied about pipelines. he was asked about the keystone pipeline, oh, i'll look at that. he closed it down almost the first day. they lied about that. and wait until you see what they're going to do with guns. they're going to be taking away the guns. this was not what people bargained for. they lied through the whole thing. this is not a representative government. and when you look at energy inagain, he never said -- independence, he never said he was going to cut off, he was going to look and this and that. but what he's done to energy is incredible. that's a big factor in inflation because your trucks, your airplanes, no matter what business you are, your transportation, your stoves and, you know, food -- and ofs, you know, the farmers are getting killed because of energy. david: yeah. >> although the trade deals i made are so good for the farmers including the usmca and,
frankly, the deal i made with china before covid. after covid, frankly, i didn't want to talk to china too much, to be honest with you. but the farmers have done better than they've ever done, and that's why in the poll that just came out, i'm leading in iowa and farm states in numbers that nobody's ever seen before. david: by the way, before we leave energy entirely, even some democrats are now blaming president biden for the rising prices. this is a congresswoman, spamberger, who said it's on biden. and there's also the point that we are now relying on coal more than we used to. 24% of all the electricity in the u.s. comes from coal. this year that opposed to 20% last year. is that because the president has been going after natural gas? >> it's because he's panicked. because what's happening with energy, nobody's ever seen it. in california it's $7.77 in
certain areas, and it tends to follow those numbers. remember in the debate also i said you're going to have $5, $6, $7 gasoline and even more than that. i just didn't know i was going to be right so soon, but i was very right and very honest in all of these debates and everything else. he just really misrepresented. he closed up keystone, he destroyed the energy business. what he's done to energy and energy prices -- and that is a big factor in the inflation. i mean, really, a really big factor. there are other things that they've done so wrong. when he went back to opec and he went back to russia, remember, they told him we're not doing anything. they didn't give him anything. they gave him nothing. and we didn't need them. we were energy independent for the first time, i think, ever. they say 79 years. i think ever. energy independent. david: well, mr. president -- >> and what's happened to our country or hey, david, what's happening to our country, that afghanistan pullout where we gave them $85 billion worth of
equipment, then they had a parade three days ago where they're showing off the equipment, that was the lowest point in the history of our country. and then you take a look at the border with millions of people coming into our country, it's a disgrace, what's happened. david: well, i want to talk about president biden's so-called solution to all of these problems which is his huge build back better -- >> yeah. david: -- plan. it's costing anywhere, he claims it'll be $1.7 trillion. penn university and wharton say it's more like $4 trillion or maybe even $5 trillion. he claims that this will actually bring down inflation. how does spending trillions more of deficit spending because the cbo said it's not going to be paid for as president said, how would that bring down inflation? >> well, so i graduated from wharton, and i guarantee you they're right, okay? very smart. they get it. it's the best. and, you know what? i guarantee you they're the
right. they're talking about the it's the actually $5 trillion. that will make inflation, bring inflation to a level that nobody's ever seen before. and much of this money is throwing it out the window. it's green new deal stuff, and the green new deal stuff which was conceived of by a person that never even took a course in the environment. it's a con job. the whole thing is a con job, and it's destroying our country. david: by the way, you mentioned immigration. apparently, the democrats, certain democrats -- at least 80 in the house -- want to put immigration into that, keep immigration in the build back better plan. there's also the super-sizing of the irs with 80,000, at least 80,000 new irs agents, give irs all kinds of permission to look into various aspects of accounts they've never had before. what do you think of all the extras beyond the inflationary aspect of it that are going into the bbb plan? >> well, they want to weaponize the irs even more so than it is now.
they want to weaponize the irs. they want to do things that nobody ever thought possible. things that you wouldn't have even -- bernie sanders cannot believe what's happened, let's put it that way. bernie sanders was a radical lefty, and he's saying this stuff, i wouldn't have even asked for the things that they're getting. and i don't think biden even knows that, you know, this is going on. they have a cabal around him. and they're using the d.a.s in the different place, their using d.a.s and attorney generals at state levels and city levels to go after republicans. it's the a disgrace, what's happening in this country. and the people, frankly, are going to stand for it anymore. this was a totally different, what heir doing is totally different. there was no mandate. we won the election. we didn't lose that election. you look at 12 million more votes, that election -- and you look at the stats in every different way, i don't want to get you many trouble because nobody's allowed to talk about it, but everybody knows it.
there was no mandate here. this is a different type of a mandate than first mandate. there was no mandate that they're allowed to croix our society -- destroy our society, destroy our country. david: well, it's a 50-50 split. it couldn't get closer than 50-50 in the senate. you also have questions, i mean, the senate is the one who has to agree to certain nominations the president has made, one of which is for the woman who would be put in control of, the nominee for comptroller of the currency which is the federal organization that sort of monitors all of the banks in the united states. she has come out with some really dramatic revisions what she wants to do. she wants to essentially end private banking as we know it, putting all of the capital of the united states in the hands of federal reserve. if you put all of the capital from capitalism into the government's hands, what happened to private enterprise in this country? -- what happens to private enterprise in this
country? >> well, it goes to hell. jamie dimon and all of the bankers that have guessed it so wrong, they're going to be put out of business with some of these philosophies. and let me tell you, mitch mcconnell, when he gave them a two month stay, he gave them two months to solve their problems, he let them -- all he did is let them go and find a solution, and he did a tremendous disservice. when mitch mcconnell gave that two month period of time, he let them get their act together. and by getting their act together -- and also the splitting of the two bills. this would have been very hard to pass if they kept it as one bill, but now they did the so-called infrastructure bill which is %, at most 9% infrastructure. it's not infrastructure. and we had 19 republicans voting for it. what a shame. but mitch mcconnell -- that guy should resign as the leader. he broke up the bills. and by breaking it up it was, it was bad. but then he gave them two months to get their act together. they were ready to fold. we had 'em.
and then mitch mcconnell gave 'em two months. guy doesn't have a clue. david: president, i've got to go back to the border because i would say inflation is the number one concern of most americans right now, the border's a huge concern particularly to the folks living in the south either on or near the border as well. i remember that famous "time" magazine where they made up this picture, it was photoshopped with you of a little immigrant child in front of it. then you see what is actually happening at the border and so many of the people coming into the country are unaccompanied children very often used by these coyotes with, what do you make of all this? and now, of course, the media's essentially missing in action in covering this story. >> right. the border, i think, is actually a bigger problem than inflation. i think i could solve inflation very quickly. they're allowing millions of people, they're emptying out
jails from 121 countries. they're all being sent -- and these are serious prisoners, serious criminals. these are criminals like you've never seen before. they go after the republicans, okay? but guys are coming in with murder rap sheets and drug dealers at the highest level, they're all being dumped into the united states. it's a disgrace. so i think it's a bigger problem. but you're right, the fake news does not cover it. you do, but the fake news opportunity can cover it, david. -- doesn't cover it. and the people are wise to the fake news. i don't even call it the fake news. it was my term, i came up -- i was very proud of it. now i call it the corrupt news because it's more corrupt than anything else. david: well, you probably have something to say about this idea of paying illegal immigrants $450,000 that some people are floating in the justice department. they denied it at first, but then they admitted there are negotiations with $100,000 agreements coming into play.
what do you make of all that? >> well, dade, i'm so glad -- i watched biden when he first heard about it. he never heard about it day before, right? he said, well, that's not happening, how dare you. it's almost like he got angry at reporter. the next day he said what a wonderful thing, what a wonderful thing. that tells you that he's not running the country. finish that tells you more than anything else, so when he first heard about it, he didn't even know about it. and when he first heard about it at a press conference, he actually got angry at stupidity of the question to say that illegal immigrants, each one -- you're talking about families that are going to get a lot more. but each one is going to get $450,000. i say what about our vets that are living on the streets? what about our people, our own citizens that have to live on the streets in san francisco and new york and all over the place? they get nothing. $450,000 if you come illegally into our country. so when he heard about it, he rightfully got angry at the
stupidity of question. the next day he was praising the idea. that means that he's told, he's being toll what to do. david: by the way, you mentioned crime. we had, your former new yorker, another new yorker was stabbed to death in the subway. and then you have this massacre, essentially, in wisconsin where this guy just drove into a crowd. that suspect used the same card -- car that he did to mow down and kill six people in the street. >> terrible. cave david just a couple of days before to try to kill his wife and was let out on $1,000 bail. i mean, it seems like there needs to be a wholesale revision of all of these nobel policies that that essentially let violent -- no-bail policies that essentially let violent criminals out because so many of them go back and do the same thing all over again. >> they're incompetent policies.
in manhattan they're spending all their time reading documents that i signed ten years ago, five years ago. i gave them 8 million pages. most of the office is working on trump, how do we get trump, and for four years, they can't -- i run an honest ship. for four years, that's all a heir doing. they don't worry about guys who kill people on the subways, they let them go. it gets worse as my poll numbers get better. now they're just going crazy. it gets worse. taye kate well, the incredible -- [inaudible conversations] david: we turned it around in the 1990s with mayor giuliani -- >> right. david: -- where we had over 2,000 murders a year, brought down to well under 500 a year. dramatic change with the broken windows policy, etc. we know how to fix it, why aren't we doing it? >> because we don't have a young rudy, and maybe the new mayor will do it. we'll have to see. david: yeah. >> rudy did an incredible job. rudy was the greatest mayor in
the history of new york. he did a great job. i was there during, before and after, and i'll tell you, he really turned it around. david: he did. >> bloomberg was a caretaker. rudy turned it around. i'll never forget a difference even in one year, it was so tough on the squeegees. these people are driving, their car is immaculate, clean, proud of their car, they drive it in new york through the lincoln or holland tunnel, and the guy comes over and dumps dirty water on, you know, that he used to squeegee 25 cars before, filthy water, and nobody could -- people were so swim dated. that was a big deal, by the way. david: well, and it turned around the business community in manhattan. nobody likes to do business in a place where people are afraid to walk the streets. so it really helped out the business community. >> greatest mayor in the history of new york. and it could be turned around.
but it's getting to a point where it's just as bad or worse. we never had homeless like we do now. david: mr. president -- >> we used to have a police force that was so into it, they just weren't allowed to do their job. talf dade yeah. >> now a lot of our great police are leaving. david: mr. president, we only have two minutes. two more issues, quickly. one is cur ham indictment -- durham indictment recently where it was discovered that, in fact, the information for the russian dossier did not come from russia specifically, it came from a clinton the operative to a russian, the russian who was indicted. what do you make of all this? >> well, it was a hoax. and i got more hoaxes. we have these hoaxes going on with the d.a.s and the attorney generals who are running for office. you look at the attorney general, she got elected on i will get trump. westchester, she was an msnbc contributor, which she hated
trump. she wins in westchester. i can fly over a state that's democrat, and i'll end up under investigation. it's a disgrace, what's going on. look, the durham report is a great thing because it really is a strong -- and i don't think it's finished. i mean, look, i know and you know it has to go to the top. i don't think they'll do it because they never seem to have courage to do it, just like they don't have courage to call the election proper or show all the dishonesty in the election. i don't think they'll do it. but you know that they knew everything. that's not sopping with sussman and the other people that have been indicted. that should go all the way to top. and a lot of people are very proud of john durham even though it took much longer because that really set a foundation. it was a hoax. and, you know, think of what it did. two and a half years it took to realize. now "the washington post" is taking all their coverage -- and, by the way, "the new york times," washington post,
hopefully they'll give back their pulitzer prizes. they got pulitzer prizes for their coverage of russia, russia, russia, and now it was a fake. so they should -- guys like you should get the prize. [laughter] david: mr. president, we're seeing the opening on the markets again, the markets are are expected to end down about 800 points or at least begin down about 800 points. very quickly, you kind of teased the public yesterday suggesting that you may run. i'm just wondering do you think there will be an open primary for the republican nomination in 2024? >> i think if i run, i'll get it. look, i have a 94, 99 -- 95 -- even cpac had a 98% approval running. if i decide to run, i'll get it easily. so i think that's good. but, you know, people want it. we had this country going. we had no threats from china. they weren't threatening taiwan,
they weren't sending bombers over taiwan, putin wasn't lining up to take over ukraine. they all respected us. they had great respect or fear or whatever. now they take a look at afghanistan, that horrible, stupid withdrawal -- i was going to withdraw, but i was going to withdraw with kill anity and strength and pride -- dignity and strength and pride. aha withdrawal was sod bad. the whole world looks at us differently today than they did a year ago. a year ago they had great respect for this country. now they look at us like we're a bunch of wimps. david: mr. president, i have to end it here, and i know you've been very free with your time. i have to wish you a great holiday with you and your entire family. >> thank you, david. thank you very much. david: appreciate it. the 45th president of the united states, donald j. trump. as you can see, the opening bell has rung. the markets are are down about 850 points on the dow, about 65
points down on the s&p 500. that's much less percentage wise. and the nasdaq is down as well but much less than other two indices. that's because interest rates are down. let's bring in michael lee. michael, you are known as a super bull. i would assume that on a down day like today, you'd be buying up some stocks, nosome. >> yeah, absolutely. i think you've got to buy on any weakness. and people out there looking at these variants need to realize the history of a virus is like that of the highlander in that these viruses want to stay immortal, and to do so they become far less deadly and far more transmissable. until there's a lot more information out, i wouldn't really panic. but on days like this, especially on shortened trading days with low volume, you can find some real opportunities to get involved. [inaudible conversations] david: let me just ask you, even before we herald of this
virus -- variant or before it got a lot of publicity we were kind of seeing a ceiling on dow at least whereas when it popped up close to 36,000, it would come down again. didn't you see that as a ceiling for the bull market or no? >> no, not even remotely. i think you have a few factors hard going to push this market higher. i'd first like to say no bull market is perfect, no economic expansion is perfect, and there's certainly some issues out there in the economy, but wall street analysts are far too bear everybody on earnings growth for the s&p 500. it's been the story since we've come out of the pan pandemic. we came in close to 40%. i think that trend of analyst estimates being too low is going to continue for the foreseeable future. additionally, there's $4.5 trillion of cash on the sideline and close to a rl dollars in announced buybacks from the s&p 500 companies. so we have this wall of cash that's going to come in and meet any sort of massive selloff, and
i believe we're going to have a slow grind higher. do i think we're going to sprint 20% overnight? no. but i think over the next 12 months, we're most likely to see a double-digit return on the s&p 500. david: on a day like today, would you buy into those stay at home stocks like peloton, etc., netflix? >> you know, the one that i would be buying is already up today though, it's an amazon. i think i would be looking out 12-18 months and that if these stay at home stocks are rallying on days like today because of this irrational fear, for the same reason -- i'd rather buy beat-up stocks today because i think market moves like this tend to be a little bit irrational, so you want to pick up -- you want to stay away from the if things that are actually moving to the upside and buy things that are moving to the downside f that makes sense. david: it sure does. michael lee, thank you very much. have a great weekend.
let's take a look at the dow winners, if we can. goldman sachs, they're up about 2.5%. merck is up about 1.5%. mcdonald's, ibm. so even on a terribly down day, you do have a couple of winners on the dow. s&p had some winners as well, marathon petroleum right smack in the middle there. as we told you earlier, oil is down rather dramatically today because of the fears about the pandemic and new variant. nasdaq winners we have, again, nasdaq not doing as bad as the other two indices because interest rates are down, and as you know, when interest rates go up, nasdaq is usually hurt more. so there are some winners on the nasdaq as well. and the market is not as bad as it was on the opening. it's now down about 680 points. remember, this is a very short trading day, so what happens with some big market movement in the dow or the nasdaq or s&p, a
couple of players can make a big difference. so there is that kind of rational movement that michael was just talking about. the yield, as you can see, on the 10-year treasury is down to 1.53%. let's check gold because gold is getting a boost. it's back up over $1800. it had come could be dramatically after it was announced that mr. powell, jerome powell, would continue as head of fed if he gets the nod from the senate, and that meant a little tighter control over fed than what we would see if brainard took over. so gold is up. but bitcoin is down quite significantly, almost 4.5%. down about $2500 to $54,920 or for bitcoin. so bitcoin is taking a bump. and as we mentioned, oil way down, over 7%ed to. fears of pandemic, of this new
variant spreading. they don't want to get caught blindsided the way they did with delta. this new variant, we still don't know the details of it. we're going to be getting dr. siegel in later in this program to find out more about this variant. but the markets were blindsided by the impact of delta, they don't want the same to happen with this variant. well, c. anthony fauci says -- dr. anthony fauci says he doesn't know if the new south african variant will be resistant to current vaccines. as i mentioned, dr. marc siegel is going to respond. but first, charles hunter is back. we're going charles hurt is back, we're going to break could be my interview with former president donald trump. that's next. ♪♪
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david: checking the markets, the dow i, well, it's going back could be to the levels that it started out with which is not good, it's now down about 2.25%, close to 800 points down. s&p's down 1.5%, and nasdaq is down a flat 1%, down 169 points. so, again, it's varying between 700-800 points to the negative on dow. bad day. of course, the reason for all of this is because of that variant in south africa that a lot of people are worried could burn through the world just the same way the delta variant did. has improved in other, in some areas of this country but, again, it's working up now to the northeast. so we'll see what happens with this variant. meanwhile, just moments ago former president trump gave his reaction to president biden's handling of covid. take a listen. >> look, i wanted him to be successful on the whole thing. on covid, or as i call it, the
china virus. i wanted him to be successful. he's been totally the unsuccessful. it's a disaster, what's happened. and now it comes back yet again. david: charlie hurt is back with us. charlie, you know, again,st it's not a matter of anybody being to blame even though bodien blamed -- biden blamed, essentially, donald trump for the pandemic when he was running for president and, apparently, a lot of voters bought into that notion, clearly it's much worse now this year in terms of deaths from covid than it was during trump. but "the wall street journal" says we recount all this not to blame mr. biden for the covid deaths -- >> right. david: -- it's that the virus is impossible for any politician to control. it's just the fact that biden essentially used that assumption that trump was to blame to help get elected. >> it's such an important point, david. and you're exactly right. you know, there is only so much that politicians can do to
control a pandemic. but the point here is it doesn't reveal joe biden for being a bad doctor or a bad pandemic handler or anything like that, it reveals him to be a really bad, dishonest politician who was willing to use absolutely anything including a horrifying, deadly pandemic in order to advance his political career. and that's what's really disgusting here. david: well, you know, you look at a recent gallup poll, gallup does a running track every month of how american voters declare themselves in terms of which party. the independents now are 44% of all voters. that's up from it was of 41% before. republicans have 26, democrats 26. but it's independents that represent the vast majority, the vast plurality of voters in this country. and they have been deserting joe biden because of all of these broken promises and things that he has said before this that
turned out not to be true. >> yeah. i think a lot of these voters are waking up and realizing that the democrat party and joe biden have been abandoning them for a long time. if you told me that we were going to have a political party in this country that was anti-cop, anti-america first, pro-looting, pro-rioting, pro-getting rioters out of jail, out on bail, i would have toll you you're nuts -- told you you're nuts. there's no way that any party in america would support these things. but here we are. and i think those numbers reflect the fact that a lot of people who have been democrat voters but are sort of kind of on the bubble there are waking up and realizing that these people, they're not about the voters, they're all about just sort of coalescing power for themselves concern kay david and they're not -- david: and they're not about capitalism, charlie. >> and not about capitalism. david: we have a president who claims he's a capitalist, and
then he appoints someone to regulate the banks who wants to nationalize the banks. that's what communist countries do. >> and then they go after joe manchin and kyrsten sinema as if they're the real problem9 with the united states in the senate. but you have bernie sanders, who's an -- a devout socialist, that's the problem. it's not manchin and sinema. david: very quickly, charlie, i asked the president whether or not there would be an open primary going into 2024, he said if i decide to run, i'll get the nomination. what do you think? >> i think without a doubt. he was actually very modest in his answer with you. by the way, that whole interview just reminds us of what a sharp mind this guy has. could you imagine joe biden giving an interview for that long on that wide range of issues and being as sharp as president trump was? but he was kind of mod there in that -- modest there in that
answer. not only would donald trump be the nominee if he chooses to run, but whoever because get the nomination will get the nomination because donald trump picks that person. david: charlie, thank you so much for being here both before and after the interview. >> great to see you. david: appreciate your expertise. >> great interview. david: thank you very much. if you look at the bottom right of your screen, ladies and gentlemen, you see the market is continuing its down slide. i believe these are session lows, correct me if i'm wrong, producer, but 889 points to the downside on the dow. all indices are down. dow is take it on the chin harder than any of the other indices. nasdaq is performing better but not by much. today is black friday, and many americans are hunting for deals, but in california criminals are getting plenty of five finger discounts as we used to say. jonathan hunt is in l.a. with more on this. is anything being done to address this crime wave? >> reporter: well, there are extra police patrols planned around a lot of these shopping
malls, but several of the higher-end versions aren't depending on those, they'red aing their own layers -- adding their own layers of security. barriers, for instance, newly placed around the mall in santa monica, a jarring sight for anyone about to head out black friday, but store owners presumably considering it less shocking to shoppers than suddenly being faced with a mob ripping whatever they can from shelves and display cases. now, the surge these kind of organized group robberies began in the san francisco area last weekend with luxury stores like and nordstrom all being targeted. and the crime wave then spread here to southern california with nordstrom, again, the target as well as an apple store and several cvs pharmacies. as brick and mortar businesses try to bounce back post-pandemic, it's really the last thing they needed. >> this year it's gonna be incredibly bad for retail theft. we have more uniformed, marked
officers patrolling all of our retail centers including our big high-end retail centers, our mom and pop shops. >> reporter: many of the robberies are apparently being planned via messaging apps, and as stores prepare for what hay hope is a shopping surge, officials are trying to head off the robbery surge by making an example of those they arrest. >> the charges to be filed include everything from looting, grand theft, burglary, possession of stolen property, firearm possession, commercial burglary and more. two of the suspects had firearms in their possession when the police arrested them. >> reporter: but while some arrests have been made and charges brought, the simple fact is, david, hundreds have been involved in these robberies, and so far only a handful have been caught. david cave yeah. it's happening here in new york as well. jon that, thank you so much, i appreciate it. as you look to the hospital right of your screen, well, now
it's up on full screen, we are close to session lows. it was about 917 is, by my calculations, well, now it's 919. looks like this is the session low right now of all the markets. we've got a lot more on the markets, a huge day, down day for the markets today and on president trump's interview. all that's coming up. stay with us. ♪♪ ♪♪ it starts with a mother's determination to treat her baby's eczema. and grows into a family business that helps thousands more. it starts with an army vet's dream
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david: takeing a look at the markets. by our reckoning, the session low was about 920 to the downside. it's now down 886, so it's a little better but not much. mean while, black friday shopping is underway, but inflation has hit a 31-year high, and supply chain issues do still persist is, so will customers spend at brick and mortar stores like holiday seasons past? hillary vaughn is at a best buy in new jersey with the very latest. hillary, how's it looking there? >> reporter: david, we've seen a steady flow of shoppers. for a lot of people, black friday was canceled last year due to covid, so we've even talked to some shoppers that are coming out for the first time
because they miss that in-store shopping experience and wanted to partake in the tradition today. national retail federation says more people on black friday are shopping in store instead of doing the deals online. 108 million people shopping this season, about 64% of those are showing up in stores. that's up from 50% who showed up in person last year. but just because the pandemic is in the past for some does not mean shoppers aren't facing some challenges. we talk to shoppers who say things do look different like rising prices and some empty shelves while they've been out and about. >> i have noticed that that. i feel like the deals aren't as good as they used to be. >> i'd say it's actually a little bit harder to find some things. it's all out of sock. >> especially with amazon, you're seeing delays. >> reporter: does that make you want to go in person so you can actually get the items? >> yeah, for sure. >> reporter: we've also been
hearing that people have been shopping a lot earlier this season, david, so we're not getting the crush of people just on black friday because the national retail federation says a lot of people, because they had concerns about rising prices and about getting stuff in in time have been shopping since halloween, and a lot of people that we talked to today are actually price comparing because prices are higher, so they're going in store and then looking online. kate david yeah. i bought some of my christmas presents back in september. i think a lot of people did what i did. [laughter] happy thanksgiving to you. still ahead, mercedes schlapp, kenny polcari, florida congresswoman cath cammack and sean duffy. the second hour of "varney & co." is next. ♪ ♪ ok, let's talk about those changes to your financial plan. bill, mary? hey... it's our former broker carl.
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♪ [laughter] david: party rock. all right. we're good for that. that's the anthem for party rock. good morning, everyone, it is 10:00 eastern time. we feel good after thanksgiving, but the market doesn't right now. let's get straight to it. we are off session lows but just barely. it went down to about 920 down on the dow. it's now about 895 down on the dow. all of the indices are down. nasdaq taking the least hit
today, but that's still down over 1%. so all the markets, no matter what you get whether you're talking about the pandemic stocks or the tech stocks, they're basically all down. let's check out bitcoin, if we can, please, because bitcoin took it on the chin as well. it's down over $4,000 right now, could be to $54,651. and because of the concern over this new variant, this new covid variant, the suggestion is or the threat is that production will be down and, of course, that that means oil is down. and now oil, of course, had been going up to near record highs. it's now down about 7.75%. it was down over 8% earlier in the trading day. it's now down to $72.30 a barrel. treasury yields, as you would expect, are down. they trade inverse, the yield trades the inverse of cost of
bonds, and so the yield is down. as the bonds themselves go up in price because people are switching, at least temporarily, from stocks to treasuries. well, mercedes schlapp joining me now to talk about this interview with president trump and other things as well. her a said, thanks so much for being here -- mercedes. happy thanksgiving. >> happy thanksgiving. david: couldn't help thinking about this when i was interviewing president. good management. of course, he comes from a business background. president biden doesn't. that's very obvious in some of the decisions made. one of the real hallmarks of a good manager is somebody that creates a great teem team. and -- a great team. i think of the team and, of course, one of those members of the team is now a part of our team here. i'm talking about larry kudlow, but we also had pompeo, secretary of state, vice president pence, i mean, really the top of line. you compare that, and i don't mean to pick on people, but they've had some really rough
times over past several months. i think of kamala harris who rates even lower than president biden does right now. her job, if she really has it in terms of monitoring events at border, she's pretty much a no-show at that. you have secretary granholm of energy. energy is so important right now particularly since we've slipped, lost our rating as energy independent partly because of what the biden administration has done, she couldn't even mention what our consumption was, our daily oil consumption, about 18 million barrels a day. buttigieg, you know, we've got this big supply chain problem, something like we haven't seen since world war ii, he's taken two months off on paer thety leave. it's -- paternity leave. it's great that you can do that, but these are not good times, and a lot of people question this whole management team president biden has. that's a long introduction but
go for it. [laughter] >> well, david, you bring up a great point here in terms of the management team. but it starts with the top. and what we're seeing right now is president biden as a weak president. someone who you feel very much that he is not in charge of policies, he's not in charge of the decisions being made in the white house. and then that trickles could be to his staff. so there's always -- many political circles, we always ask ourselves who really is running the white house? there's always comments of susan rice or the chief of staff, rob klain. and it really gets to a point that we don't know how they're making these decisions. what we do know is there is a huge influence from the progressives and how they put constant pressure on this administration to really shift to the left in all these different policies. and what you're seeing right now is the consequences of inflation that is really hitting the working americans, working
concern hitting the middle class where they're feeling the impact of higher gas prices, feeling the impacts of higher food prices. and there's concern of supply chain crisis which we know, david, has created, you know, a huge bottleneck situation right now where you've got to ask yourself are the products going to make it in time for christmas. that's a big question. and so it's all this pressure that's being put on americans, and what was happening with it is joe biden's poll numbers going down because of just bad decision making across the board in less than a year. a. david: yeah. and i think nothing has hit him harder than inflation because in terms of pocketbook issues, that's really key. now, the liberal media has been trying to downplay the effects of inflation and the supply chain crisis. let me play a little tape of that and get your response. >> they want you to believe the economy is terrible, but in
reality, unemployment is lower. prices are higher, but americans are are also spending a record amount of money. >> the dirty little secret here, willie, while nobody likes to pay more, on average we have the money to do so. household savings hit a record high over the pandemic. david: well, the dirty little secret, mercedes, is that they've got it dead wrong. it's 67% of americans blame biden's policies for the inflation, and they put inflation as their number one economic concern. >> right. look, i think when you have certain, you know, media personalities, liberal media personalities who are making millions of dollars a year, of course they're not going to be impacted by inflation as we have. they're actually sending what i would say is almost like a moral message which is, americans, you're spending too much. you're so wasteful. please stop spending and wasting, and this inflation thing is going to be good for you in the long run. and you're going, wait a second, here.
[laughter] as americans, we work really hard to provide for our families and to be able to give our children better lives, and know heat should come -- no elite should come and tell average americans how they should live their lives, and that's what's so distrust thing about what these media types have said is. with that being said, i think that this issue of inflation and the economy is going to impact the midterm elections dramatically. i mean, i think that's why you're seeing many of our political stipe types saying that we could win 30 to 40, i've seen even 70 seats that we could -- david: 70? 7-0? >> yeah. that's what -- i run all these different numbers, and they're basically saying that we can definitely win the majority in the house because of the wave that's coming concern. david: well, very quickly, mercedes, sorry to jump in because we don't have much time, if that's the case, will democrats somehow be able to -- because we know they're going to
try to jam this bbb plan which could cost up to $5 trillion and cause a lot more inflation -- in before the defeat of 20 to 22? -- 2022? >> oh, absolutely. their goal is to pass this plan if, the spending bill. it's their priority. they feel that that's what they can run on in order to try to win back some of these independent voters. the problem is, is that you're talking about more and more spending which, of course, impacts our overall numbers. it's going to keep putting pressure on our economy. and so -- and it's not going to be enough. you're seeing biden's numbers continue to plummet and also kamala harris' numbers, they're in trouble. so i really feel for the democrats. you seeing these polls happen right now, and they're saying it's short-term inflation, david. this is going to lead into next year, and i think at the end of the day the american people are going to be very nostalgic and saying, goodness, i wish we had
president trump in the white house and his team as well as insuring that we have republicans in charge of this economy. david: great to see you, mercedes schlapp. happy thanksgiving to you and your family. >> great to see you. a they've kate let's get back to the markets and bring in kenny poll carry. you say this is not time to panic. i think panic causes bad decisions to be made. but do you think this is just a one-day thing we see here? >> well, it might be more than a one-day thing. look, partly is the markets, we've all been talking about how the market's overstretch ised and it needs to pull back a little bit, it's gone nothing but straight up. so market was, on the one hand, looking for a reason to back off. so it may not be a one-day stretch. i think today's action, look, european markets are down 3.5%. expect to see losses of 1250 points by the end of the day or 170 points on s&p if it were to hold true. it's also a half a day here. there's a lot of people not in their offices. action being driven by algorithms. so i wouldn't necessarily, you
know, light my hair on fire because today's, you know, the end of world. it's not at all. i think you have to take it for what it is, take the headline for what it is. very unclear still, you know, the transmissibility of this virus or whether or not it's going to be more deadly. there's a lot of speculation, but there's no definitive answer, so the last thing you want to do is, you know, run for the door and go, oh, my god, start throwing everything out the window. take it all in stride. look, even if the market backs off 3.5% today and another 2% next week, that's ill only 5%. that's still well within what would be considered a very normal trading range. considering we're in the middle of this turbulent time, talk of interest rate increases ahead of what the market expects, it's all going to cause some turbulence, so strap in -- david: correct me if i'm wrong, but the market was caught sideways by the delta variant. >> yes.
david: particularly because the vaccines were just coming out, and is we hadn't seen -- we'd seen a lot of variants fall relatively flat. but dell that came in like gangbusters, and it continued around the world. they don't want to be caught flatfooted again as they were with delta a, that's why they're taking so much off the top tonight. have i got it right? >> you may be right and, listen, that may be a legitimate reaction. but i also think exactly the reason you shouldn't panic, right? first of all, i'm in the camp right now that it's not going to be any worse, that the variants -- the drugmakers are going to be able to tweak these mrna vaccines to handle whatever's coming at us. i'm in that positive, optimistic camp. i'm not in this doom's day it's all over camp. yes, but i would agree you're right. look, we weren't talking about this on monday or tuesday, we weren't talking about this last week. this came out of the blue on a day when all of us were away from our desks and suddenly we
get hit with this in the face this morning. what the heck is going on? david: by the way, the market is down once again to its session lows, be we'll see what happens. don't panic, as kenny wisely said. this is not time for that. it's a half trading day, so a few movers can make a big difference in a market like this. kenny, have a great weekend, appreciate it. now this, protesters are setting up shop outside amazon buildings on the biggest shopping day of the year. an international coalition of unions called make amazon pay is staging a day of action and demanding concessions. they want amazon to raise pay, extend sick leave and pay more taxes just to name a few of their demands. well, as the nation sees the surge in crime, retailers are ramping up their own security. along rodeo drive in beverly hills, a pair of private security companies are patrolling the street after a pair of smash and grab robberies
at and saks fifth avenue stores. and in san francisco officials are rerouteing traffic patterns so thieves can't easily park, commit robberies and speed off. show me the dow, if you can, please. 2 in the green, all the others are in the red, and you see session lows on dow right now all because of fears of this new to covid variant in south africa, worry that it might be spreading worldwide. a new poll, meanwhile, showing president biden's approval rating at just 42%, so what does this mean for next year's midterm elections? sean duffy with his take on that coming up in our next hour. also five democrat senators say they will not support president biden's controversial banking pick, saule omarova. this will most likely kill her nomination, so why is the white house still backing her 100%? we've got the story right after this. ♪ got me calling out for help.
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johnson, which is about flat. biontech up about 20%, 23% increase in moderna, pfizer's up almost 7%. it's because of worry about the vaccine that those are gaining and the market is so down right now. now this, former president donald trump just told me what he thinks about vaccine mandates. roll tape. >> i don't like 'em, but i think you should -- look, i took it. i took the vaccine. i was prouded to do it. somebody said, oh, sir, maybe, you know, it's a little controversial, don't mention -- no, just opposite. i'm very proud.
we did something in 9 months, less than 9 months, that wasn't doable in 5 years. that. david: congresswoman kat cammack, republican from florida, joining me now. congresswoman, your state of florida is doing very well, and you do not have a vaccine mandate in place. and the president was very clear even though he supports the vaccine, of course, it was his administration that really sped up development of the vaccine, but he still is against a vaccine mandate. and, of course, the counts have ruled against it -- courts have ruled against it in many places, but the administration is going ahead with their mandate. what do you think of it? >> well, good to be with you, david, and hope you had a wonderful thanksgiving. david: thank you. >> i agree with president trump, and i think that what governor desantis has done here in the state of florida just last week signing four incredibly important pieces of legislation, banning these mandates, protecting workers, protecting kids from these arbitrary max mandates in schools -- mask
mandates, i think anyone who has even a bit of common sense is of mind that we need to be anti-mandates, not anti-vaccine. and in the state of florida, you look at the model that we have here, we didn't do arbitrary lockdowns, we didn't put businesses out. we actually took the steps to make treatment like regeneron and monoclonal treatments available in communities all across the state. if you wanted a vaccine, it was readily available through health department, through publix, cvs, walgreens, etc. but if you didn't want to get the vaccine because that is truly a decision for you, your family and doctor, not a politician to make for you, that was something we made sure in florida was not case. so so i think it's a common sense position to take. you can be for a vaccine, but you don't have to be mandate. for me i'm firmly 1,000% anti-mandate, and we're going to be fighting from the federal
level to push back on this overreach from the biden administration. david: well, you did have a spike during the delta the, because of the delta variant. i'm just wondering if you're concerned about this new variant and if you're going to take any preemptive strategy in order to try to combat it. >> well, you know, just like the rest of the world, you know, when the delta variant was spreading around the globe, everybody took a hit. but you look at florida compared to california or new york, the data speaks volumes, much more than the political sound bites that governors want to spout is off. -- spot off. we have one of the lowest if not the lowest covid rate in our country. we know that our decisions are rooted and based in facts and science, not political science, and i think that's important because if you take a common sense approach of what we know and how to handle this virus, we're going to be okay. the important thing is people need to not panic. panic is what causes --
david: yeah, i agree 100%. >> look at the markets today. david: yeah. no, i couldn't agree with you more on the panic issue. i just want to switch gears very quickly. five democrats have now bucked party lines and have come out against president biden's banking pick, saule omarova. of course, he wants to, essentially -- she wants to, essentially, nationalize all the private banks. here's what she said, there will be no more private bank accounts, and all of the deposit accounts will be held directly at the fed. how could we have capitalism if the government holds all the capital? >> you know, the thing about administration that baffles me, i truly do not know where their heads are at. they are so far removed from reality, it's concerning. when you have someone, and i think about senator kennedy's remarks when he addressed her, is it professor or comrade? her philosophies are rooted in marxism. she is not fit to be our banking
nominee. but, again, it's just like the typical biden administration that we've seen over the last 11 months. they are willing to put everything on the line, consequences be damned, because they believe that they are somehow virtuous in pursuing this ultra-progressive, leftist ideology. but we see that their policies are hurting america. we know that this banking nominee will only exacerbate these problems. it's pretty simple. i know i have a minor in economics, not a major and certainly not a master's or a ph.d., but when government spends more, people like you and me and everyone around the country, we have less in our pockets. david: yeah. >> it's that simple. it's economics 101. david: i think you're right. >> every nominee wants to push for 180 degrees from where we should be heading in terms of helping people get back on their feet, restoring our economy back to where it was in the trump era. david: well, as milton friedman
used to say, it's just common sense. that's the basic science of economics. congresswoman, thank you very much for being here, appreciate it. take a look at these headlines. the liberal media has been routinely downplaying inflation by either turning it into a positive or blaming it on shoppers. but the media wouldn't be protecting donald trump if he was in the white house. his daughter-in-law, lara trump, is going to be joining me in the 11:00 hour to talk about that. today is the biggest retail day of the year, black friday. millions of americans are going to be heading to the stores to get started on holiday shopping. of course, a lot of them already started that. but some retailers are pulling the plug on discounts. we've got the report on that coming next. ♪ -- paying with love tonight. ♪ it's not about money, money, money, we don't need your money, money, money -- ♪ we just wanna make the world dance, forget about the price tag ♪♪
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david: a check on the markets, and they're all over the place, folks. bottom line is they've been down from the beginning over 800, at one point it was in the 600 range, and at one point it really just tickled the bottom of a $1,000 -- 1,000-point drops. by the way, if it did, it'd be the first time since june 11,
2020 the, that it goes down 1,000 points. it is, of course, black friday, but consumers may have a hard time finding doorbuster discounts. kelly o'grady is in commerce, california. are some black friday discounts being kiss continued? [laughter] >> reporter: i like that punker david. yeah. listen, shoppers have been here since 8 p.m. last night, but a lot of them aren't finding the discounts they're expecting. all of that product is in the harbor, and retailers don't necessarily have to offer big sales when you've got shoppers clamoring for those goods. i want to give you a taste of what you might see in stores. you've got a sign that says buy one, get one 50% off. that's way too good to pass off, right? but it works out to 25% off your entire order, and when you dig through all this chaos, you see that some of the big name brands, they aren't offering those traditional sales because that product is just stuck in the harbor. >> i just don't want to be
broke. >> i'm happy to be out and just spending my money. [laughter] >> not as many deals, i didn't think they'd be as maul as some of them are -- small as some of them are. >> they didn't have my sizes. >> reporter: now, there's also been a lot of focus on higher sales this holiday season with an 8.5-10.5% increase in sales versus 2020 projected. but a lot of that is actually due to inflation, right? consumers are spending more because things are actually costing more. now, if you've got to get your stuff by holidays, make sure you get it now, but if you can wait, there might be kiss counts in your future -- discounts in your future. dave they'd kelly, thank you very much. gerald storch joining me now. despite new variant that's hitting the market so badly today, will retailers hit, do you think, the sort of pre-pandemic levels even with all these supply chain issues
we've been talking about? >> absolutely. in fact, retail sales are way beyond pre-pandemic levels. the sales started accelerating over the summer, and they've never looked back. in october sales were 23% above the same october, same month in 2019, pre-pandemic. talf david wow. >> and what i've heard from my sources are that november continues to accelerate, so even more than 23% up over that two-year basis. so we take a look at it, there's no doubt that we're going to have huge holiday sales -- david: but do you think -- i'm sorry for interrupting you, but do you think that this new variant might put a pause on that buying spree? >> i don't think so. i think we're just too close to christmas for that. whether, you know, there's no way of knowing what's going to happen with these variants as we've seen in the past, but people are not going to hunker down and shelter in place anymore. everyone realizes this is a pandemic and it's going to be around, we have to learn to live with it. beyond that i really have a lot
of confidence in our pharmaceutical companies to work on if they need to, you know, new therapies, new vaccines for this variant if it's something different. david: very quickly, this deserves a longer answer, but what do i do if i'm a retailer in this market right now with all the supply chain issues but that strong demand out there? >> first of all, a lot of retailers are in really good shape on inventory. what you do is you make sure that you study your pricing and don't take the discounts you don't have to take. raise your prices to get ahead of inflation, that's what i'm advising my client base. that's why i know this inflation is here for a long time to come. try to diversify your sourcing for the long term, and you take the good care of your employees. and you see that, giving them bonuses, education, higher wages, whatever it takes, because one lost employee, it takes forever to try to hire back. that's what you focus on, the basics of the business and doing it right. dared dared thank you very much, gerry, good to see you.
now let's bring in andrew left for some advice on the markets. andrew, you clearly see the kind of movement when it's a half-day trading and a few big movers can move the entire market, right? >> friday after thanksgiving is always a volatile day. there's always funky things happening. obviously, the new variant throws, you know, throws a wrench in the whole system. but by no means is today a barometer of how the next six weeks will be. david: what do you think is going to happen? we just heard the new variant, whatever happens -- i mean, god knows, let's hope it's not as bad as delta or even worse, but he doesn't think it's going to have an effect on retail sales. >> monday will be interesting to see, how this progresses over the weekend. as for retail sales, the u.s. consumer is strong. where hay choose to spend changes, as you see, we had fewer coming out of coal and gas
which weren't so great -- i lost you. david: i can still hear you, but go ahead and continue to talk. we can hear you, we can't see you right now. >> okay. we're lost then, i'm sorry. david: apparently he can't -- andrew, thank you very much. thanks very much. well, a new covid variant discovered in south africa appears to be spreading rapidly there. this as dr. fauci says he does not know if this new variant will be resistant to current vaccines, so how concerned should we all be? c. marc siegel has answers to all of these covid questions, he's next. ♪ ♪
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number, now it's come down quite a bit from that, but it is still a big day to the downside. the dow taking it worst 2.33% down, nasdaq down about 15 and the s&p -- 15, and the s&p down about 1.66. the federal government is sending two medical teams to michigan to support hospitals that are seeing a surge in cases. jonathan serrie, what's the latest there? >> well, the federal response here in this country is because of the delta variant, but internationally there is now concern about a new variant first detected in africa. they're still studying it, but there is some concern because of the high number of mutations in this african variant that a it may be more contagious and perhaps more resistant to existing vaccines. take a listen. >> we will never know if it
originated from africa, neighboring country or someone who arrived by plane. >> this will be all over over the next few weeks. >> reporter: broun has imposed a temporary ban -- britain has imposed a temporary ban from six african countries and they're requiring visitors to quarantine in hotels. each time coronavirus spreads from person to person, it has the potential to mutate, and that is message the center for epidemic response is trying to get across to wealthy countries and individuals. he tweeted: i would like to plea to all billionaires in this world to support africa and south africa financially to control and extinguish variants. by protecting its poor and oppressed population, we will protect the world. here in the u.s. the federal government is sending two military medical teams to michigan to to support hospitals overwhelmed by a fourth surge in covid cases, these being driven by highly contagious delta variant and colder weather driving more people indoors.
44 military physicians, nurses and respiratory therapists will arrive next week to treat patients for 30 days. hospital officials say they welcome the extra help but more is needed. >> we had probably somewhere between 2-300 just at dearborn alone. that would make us feel a lot better and probably for the entire health system, you know, a thousand nurses would be fantastic. >> reporter: and international health officials are concerned about holiday travel season. many people have already traveled for thanksgiving the, many more for hanukkah, christmas and new year's, and they are concerned that that will drive up the spread of coronavirus even more. and with the spread is always potential for even more variants. david, back to you. david kay jonathan serrie, thank you very much. let's bring in dr. marc siegel to talk about this. could this variant actually end up being worse than delta? >> we don't know yet, david, but
there's some concerning features that jonathan was just talking about. b11529, the world health organization's going to meet today on. my prediction is they'll give it a greek letter, so we'll be calling it a letter by tonight or tomorrow. 32 the mutations to the spike protein, that's the protein that allows the virus to attach to your cells. and the more mutations there are, the more that it can evade, potentially, the vaccine. although i predict that the vaccine will have some coverage on this variant too, but it might not be as much. we saw that with the dell that variant already. -- delta variant already. the key how transmissable is this going to be, and the early signs are a little bit worrisome. in south africa reports are that around johannesburg some scientists are saying 90% of the new cases are actually this variant. delta's been going down, and now this is starting to go up. overall cases in south africa, 2,000 or so. still pretty low, but if this
starts to predominate, we're going to worry it's very, very contagious. david: do we know anything about how therapeutics are effective in treating this if people get -- is it more virulent in terms of affecting people in sickness? >> it's too early to tell that. we don't have ed of that because the only reported cases in south africa are about a hundred. and generally the way it's gone with these variants is that they've not been more virulent, meaning getting you sicker, but the question is, david, this is the i key question, how easy does it spread. because the delta is so contagious that this literally has to outcompete delta. david right. >> it either outcompetes it or has a competitive advantage. we haven't seen that yet. do the antibodies work, do these merging antivirals work and do the vaccines cover this. because, by the way, south africa has only a 24% vaccination rate which is really low, and there's been a lot of
outcries to get more vaccine over there. david: terrific information, doctor, as always. marc siegel, great to see you. thank you for being here. appreciate it. have a great weekend. >> thank you. david: well, president trump told me the border is a bigger problem than inflation. christian whiton takes that that on coming next. ♪♪ (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. (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. ♪♪ it starts with a mother's determination to treat her baby's eczema. and grows into a family business that helps thousands more.
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david: checking the markets again, it'n about 900 points right now. it was very close to 1,000-point loss which would have been the first time since the summer of 2020 that it's gone down that much. nasdaq down about 1.75 now, it's taking a bigger hit. s&p 500 is almost down 2 percentage points, down 89.6. now to this, the administration could start turning back asylum seekers at the border as soon as next week. casey stegall's in dallas. the white house says it's working to restart donald trump's remain in mexico program, but did they say when, casey? >> reporter: well, david, no. in fact, this has all not been made public just yet. first of all, let's back up and give you a little bit of the back store to refresh everyone's mind. remember, this is a policy that president biden initially
suspended hours after he took the oath of office, and then his secretary of homeland security officially ended the program over the summer. that was the until a judge challenged it, and it was reinstated. but with this year's surge of migrants crossing the southern border illegally into the united states in record numbers and still not showing any major signs of letting up or slowing according to the data, space to house and process these asylum-seeking claims has been extremely tight. then you fold in a global health pandemic. those are reportedly some of the reasons for the white house's change of stance, if you will. details of it all expected to be made public sometime next week. but the plan, reportedly again to reinstate former president donald trump's controversial policy which requires migrants to wait outside the united states while their asylum claims are pursued. the only difference is that now under president biden's deal the migrant would receive a covid
vaccine before being released from u.s. custody. as far as logistics on how all of that happens, it's still unclear, but there have been reports it would be a slow rollout with brownsville, texas, el paso and then san diego, california, as the first three cities where the policy would be reimplemented. so stay tuned. david: just amazing. after hundreds of thousands of immigrants have come in with no covid testing let alone vaccines, they're finally talking about -- [laughter] >> reporter: getting the jab. david: casey, thank you very much. i spoke to former president trump last hour. he says the border is actually a bigger problem for democrats and the president than inflation. roll tape. >> well, the border is actually, i think, a bigger problem than inflation because, you know, i think i could solve inflation very quickly. but the border's a different problem. they're allowing millions of people -- they're empty thing
out jails from 121 countries, and these are serious prisoners, serious criminals. david: christian whiton joining me now. christian, do you agree that the border is actually a bigger problem than inflation? >> i don't. i think that's wrong, and i think trump -- who i like a lot, i served in his administration -- but he's stuck in 2016. that's the big issue. the big issue dragging down biden's poll numbers, talking about the border here, but inflation is much farther reaching and much for pal rabble to average americans. -- palpable. there are a lot of americans who care a lot about the border, don't like the fact that this administration seems intent on bringing 10 million illegals into this country during his four years in office, but inflation hits you right in your face every day. every time you full -- fill up at the gas purchtion every time you go to the market with food inflation in some categories up 10%, a big deal. david: it is a big deal, and the president did not discount it as noting being a big deal, but he
said it would be easier to fix the problem of inflation than to fix the problem at the border because so many undesirable folks have been let in. that's his point. a lot of people from larry kudlow on who have been investigating this say there ways to fix problem of inflation, and this administration's going in exactly the opposite direction. >> right. there are easy ways, to appoint a fed chairman who actually isn't going to increase concern. david: for example, right? >> -- faster than it has ever been increasing. exactly. how how does donald trump cothat? he was terrible about personnel, about putting people in who would implement his agenda. jerome powell at federal reserve raised interest rates throughout 2019, dragged growth below 3% and had to be browbeaten into changing policies after considerable effort. the idea that trump fixes inflation instantly, i don't
necessarily buy that. david: by the way, i would disagree with the employment, but we have larry kudlow, mike e pompeo, there were a lot of really good picks in that management -- >> 3 out of 4,000, yes. david: you look at this administration, and you take issue with kamala harris, who's supposedly in charge of the border. we've seen her there once -- [laughter] maybe i missed a quick overflight that she had, but the bottom line is she's been missing in action in terms of dealing with that crisis. doesn't, isn't she the number one problem for the democrats going forward here in the administration? >> she's a tremendous lodestone for the administration. biden's popularity is in the low 40s. harris is in the 20s. she's tied with dick cheney at his absolute low point which is when iraq was at its worst in 2007, and cheney wasn't trying to win a popularity contest. there was nod idea that cheney
would be president or succeed w. as president. kmala is supposed to be one who was talked about assuming presidency after the midterm election are, after january 20th of '23 is so she could serve two subsequent terms and before that have almost two years in office to acclimate the public to her as president. that is gone. really they need to work at exiting harris, putting in a moderate like klobuchar, the senator from michigan -- excuse me, minnesota, or one of the few democrat governors like in colorado or john bel edwards in louisiana who come across as moderates. i don't think the democrats are going to do that. but really if there's one problem in this administration that surmounts all ohs, it is kamala harris. david: i don't, by the way, remember historically when that has been done before, pulling out an unpopular vice president because you're afraid of what happens in the next election, but we'll have to wait and see. christian whiton, good to see you. thank you very much for being here.
>> good to see you too. david: still ahead, sean duffy, ken buck and harmeet dhillon. president biden, by the way, insisting that america is back. listen to. >> what's your message to the american folks on thanksgiving day? >> my message is after who years, you're back, america is back. there's nothing we're unable to overcome, al. david: well, a majority of americans say the economy is in poor shape, so what is president biden talking about? lara trump will take that on in our third hour
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-- i don't want to force the a lot of the mandates cause the supply chain problem and that way i guess you could say what is happening is people are quitting their jobs all of the place. the police departments are being decimated by the mandates and many businesses being decimated by mandates. i got the numbers solo for gasoline i was down to one
dollar and 78 centerleft at one dollar and 86 and a gallon. we were biggie -- bigger than saudi arabia. mitch mcconnell should resign as the leader, he broke up the bills and by breaking it up a he gave them two month to get their act together so the border is a bigger problem than inflation. i watched biden when he heard about it, and he said how dare you, was like got angry at the reporter and the next day he said what a wonderful thing, that tells you that he's not running the country but it's getting to the point this is homeless like we do now and we used to have a police force that was so into it they just weren't allowed to do their job. a lot of our great police are leaving. if i decide to run, most people said if they run they won't run against me.
>> that was donald trump in our first hour of coverage of what is going on today, busy busy tuesday. who would have thought the day after thanksgiving would be so busy. we have this market, hesitate to call it a crash. it may be a 1-day thing, a half-day of market trading and very often a few traders can make a difference moving the markets but this is from south africa, this period of covid spooking the markets tremendously all over the world today, the dow jones was down close to 1000 points.
that happened it would be the first time since summer of 20241000 point drop in the dow. oil is close to dropping below $70 a barrel, that is down almost 12%. look at this. it is down below $70, trading at $68.81 a barrel right now and yields are down tremendously because a lot of people switching from stocks to treasuries. there is an inverse relationship between the rise in the value of the treasuries and their yield and that's why you see it there and goals, a lot of people are retreating to gold as an inflation hedge and fear hedge, it is now trading at just about $1,800 flat for an ounce of gold. earlier i spoke with donald trump, he blasted president biden for the energy crisis. >> what they've done to energy and energy prices causing a tremendous amount of inflation. we were energy independence, i got the numbers solo for gasoline i was down to one dollar and 78 and i left at one dollar and $0.86 a gallon. the energy is a big factor in the inflation because your trucks, your airplanes, no
matter what business, transportation. >> sean duffy joining me for more on that interview and let's start with energy. we should mention when he left it was in the pandemic about even pre-pandemic in december, december of 2019, we had oil at just over $2 a gallon so even if you take the pre-pandemic price you see this tremendous difference between what is happening and when you have energy independence you have control over the world price, we don't have that anymore. >> i love waking up on black friday to donald trump. that made my day but politics
can be hard sometimes but when the other party is so stupid it makes politics easy and this is what donald trump is pointed out. energy prices, gas prices affect every single american when they tell their car or heat their home but inflation we've seen throughout the country, oil and gas touch everything that move product across the country so prices rise. aside from the fact that we are printing money like drunken sailors so when you shutdown the keystone pipeline and shutdown line 5, huge pipeline in michigan that moves crude across the country you are an idiot a reducing the ability of oil and gas to drill on federal lands all those things affect our ability as americans to produce energy and make this reliance on saudi arabia, if you care about the environment and america produce energy here because we do it better, cleaner at it and american jobs, we keep the cash in our own country. dave: because there have been so many attacks in terms of regulatory increases in natural
gas and cutting drilling in federal lands etc. you have overreliance on whole, 24% of all our energy needs come from coal as opposed to 20% a year ago. we are making the air dirtier with these green policies. >> one of the problems is the greener we get the more reliant we become on china. you talked about the cobalt mind china has just taken over, cobalt is used for batteries, making solar panels, we take an energy system that is based on american supply, coal and gas and oil and move it to china where we rely on them for batteries and solar panels. it is kind of idiotic and if you are a liberal you should think through this to say if i to win elections i to make a slow transition and i should make sure we make these products for green energy in america, not china. dave: you have democrats moving
away from president biden's policy, not just senator manchin, congresswoman stan berger saying president biden owns the issue of the price at the pump and other democrats say as we get closer to 2022 a lot of people in congress and senators are beginning to worry and pull away from biden. convey succeed or is the whole team going down in the next election? >> when you talk to your constituents at walmart or church and they nonstop talk about the price of gas at the pump it becomes a real issue. no doubt they are trying to was a walk away from the biden policy but they know they can't stop the train for running so you look at the polling, i was in congress for 10 years. it is hard to rewrite this ship. i think republicans in the
house can pick up 40 to 60 seats. it could be like 2010, the tea party wave, looks good for republicans to pick up the senate. the problem is they can't get anything done because president biden is in the white house. all they can do is stop these horrible bills from passing their passing that are destroying the dollar. dave: i'm getting a rap but is it possible they could get the builder back better plan in before the 2022 elections? >> they can but what do they do in the senate? debating be the same as the house bill. this is bad for the country. dave: good to see you. have a great weekend. back to the markets and bring in jonathan honecker. in 2018 stocks were unlikely to from thanksgiving until christmas. is that what's going on? are we in for a holiday downturn such as we are seeing today? >> it was a bloodbath. thanksgiving to christmas in 2018, the dow, nasdaq, s&p, big
mega caps led the markets, 10, 15, 20% in a short time. holiday shortened day, light day and one is dot and doe, doe is don't overeat and dot is don't overtrade even on a day like today but when you see not just stocks but bitcoin, gold and a lot of other assets, this to me says risk off and for most traders hands off as well. dave: some people go into stocks like apple but you are still short on apple. >> it is not even the stock market but it is the bond market talking about inflation over and over. this place to seat is the rising cost of money it self. the beginning of 2020 the short-term interest rate, was 2 tenths of one%, now it is one.2%. there's a lot more incentive especially as markets are week
to put your money in the bank because for the first time in years you are earning interest rate. that attraction from a higher rates will pull money out of these non-interest-bearing but risky assets like stocks, like bitcoin and apple. >> always a pleasure to see you, thank you, have a great weekend. president biden says america is back in his thanks giving message that is it? we just had the most expensive thanksgiving in history. we will ask lara trump what she thinks about that ending california leaves making off 20,$000 of merchandise from an apple store in santa rosa. we will talk to a california resident. harmeet dhillon about the rise in crime and was we might be able to do about it coming up. markets are down big time today but we are all over it, stay with us, the third hour of varney just getting started. ♪♪
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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 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.
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>> they went to weaponized the irs, do things nobody ever thought possible, things you wouldn't have even, bernie sanders cannot believe what is happening. bernie sanders was a radical left, he is saying this stuff i wouldn't have even asked for the things they are getting. >> congressman ken buck, i am laughing but it is true. think of the pick. i his not to go back to it but i'm going to. this woman who's going to be heading up the if she is approved by the senate would head up all the banks a country is for nationalizing the banks. that is a socialist policy from the get-go. did you ever think you would see that in the united states? >> i did not and donald trump is right, this spending bill is outrageous.
i voted against it. every republican in the house voted against this bill. we hope and pray senator manchin and senator kristen sinema stand strong. inflation as a result of this bill and picking winners and losers throughout the economy is not the way our economy should work and the way americans want our economy to work. dave: other stuff in here decides spending, they want to fill it full of immigration stuff, supersize the irs through this bill. it has a lot of stuff that the parliamentarians said shouldn't be there and they are bucking forgive the pun but going against the parliamentarian.
>> going against the senate parliamentarian and have to change it in the senate which means the house is going to have to vote all over again but there are things in the reconciliation bill that don't belong in reconciliation. the anyway speaker pelosi can get the vote in the house was to keep those things in the reconciliation bill and that will cause problems in the senate. dave: i to switch gears a bit to talk about china and the olympic games which a lot of people are calling for a boycott, you are in favor of a boycott of the olympic games. you look at the pandemic and it keeps going on and on. i can't think of anything worse than what they have done, but to release the virus that has caused the pandemic that has killed millions of people around the world. >> the problems with china date back decades and certainly within the last 10 years we've seen horrible activity in china, human rights abuses, things we should not stand for and things that should not be done by a major trading partner of the united states. the mistake was when the olympic committee chose china
as the host for these games and i think we should do what we can to make sure china starts acting like a trading partner in the international economy and they've got to stop the slave labor, discrimination against the leaguers and other religious minorities in china. it is disgraceful the world is holding china up as a symbol of what other countries should look like. dave: they have to take some responsibility for the pandemic. they have to allow independent investigations into the wuhan lab and we are still right in the thick of the pandemic. every time we think it is over it keeps pulling us back with the latest south african variant as you can see, the dow
has not had a 1000 point loss since summer of 2020 so it is affecting everything. money is the least of it. the worst are the millions of deaths but they are not letting independent investigators into wuhan. >> not only are they not allowing independent investigations into wuhan they are creating a narrative and trying to blame the united states military for this activity and it is wrong and they are trying to win world opinion in doing so. they've got to accept responsibility. i think the world knows where this came from and we know it came out of a lab, not just some wet market in wuhan. before we go further with the olympics we should make sure they take responsibility. dave: another thing i talked to the president about, he was bullish on vaccines, his administration created this extraordinary effort to develop the vaccines, biden had a free ride as far as that goes even that he denigrated it when
running for president but the question of vaccine mandates is something the president was insistent upon that they are not helping the country to become vaccinated and it should be something individuals have freedom to make their own choice about. what do you think on that? >> i agree with donald trump on that and when the government tells people they have to do something there's immediately apparent toy of that exists with a large part of the population. this isn't republicans or conservatives. this is across the board. i talk to liberal friends who refused to take the vaccine and people in this country want the freedom to decide and that is what the government is missing about these vaccine mandates, it is wrong and counterproductive for the government to engage in that kind of requirement. dave: it is counter to what we stand for. this government was created 250 years ago with the idea of taking government out of our lives. the whole point of the
constitution is to restrict government. this administration like a lot of democrat states around the country and cities are doing everything they can to put government into our lives much more heavily than i think most americans want. >> and we do have a pandemic and the public health issue here but to solve the public health issue by creating the kind of paranoia and pushback that state, local and federal government have created is wrong. it is counterproductive. it is counter to our values as you pointed out and i think the best way to get this done is more education is make sure people understand the benefits of the vaccine if there are some. we don't do what will happen with the south african variant. it is scary and we need to make sure people have information. having social media sensor the information that allows people to see both sides of the story and make intelligent choices wrong.
dave: thank you for being here. as i mentioned, you can see the dow is down over 1000 points. that is not happen since june 11th, 2020, so that is a milestone we hoped we weren't going to reach today but we have. looks like the dow is looking close to a 3% loss right now. you see the other indexes down more than 2%. now this, the eu is proposing an emergency brake on all air travel from south africa. this is in response to the new covid variant. let's go back to the markets, the stay-at-home stocks are up surging this morning as new covid variant fears mount. zoom is up over 7% and netflix surging as well, it is up close to one%. pellets and, they were taking a hit when folks were getting back into the gym, now with
worries about a new variant causing more gym closings pillows and is up close to 4%. now this, next time you eat out make sure to check your receipts. some restaurants are adding a supply chain surcharge. coming up we will talk to one restaurant owner who is doing exactly that but don't worry, president biden says america is back. we will talk to laura trump to get the pulse of america next. ♪♪
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as i observe investors balance risk and reward, because everyone, everyone, everyone deserves better. i see one element securing portfolios, time after time. gold. your strategic advantage. >> stocks dropping further. the dow hasn't fallen the thousand points and june 11th, 2020. that it finished 18,061 points. we have dr barton on the phone. is this the beginning of something long-term? >> i don't see the long-term nature giving indications of that right now. since the period of strong
investing investors, retail and institutional say we want to be in those things that are high risk high reward from crypto currency to crude oil and silver, meme stocks. they've all taken off. i think we are seeing a little overreaction by the market to the covid variant news and that will play out in quick fashion. dave: you think will burn out quickly, when do you think it will burn out? we were talking to jonathan koenig about the period in 2018 where from thanksgiving through to christmas time we were in downward swing, will it be that long-term? >> i do not see that kind of front. we were looking at a different time in terms of what was going on in china with the stock market and the problems that were happening financially. i think here absent a massive
fast spread of this new covid variant i believe that the overwhelming strong financials especially on the retail side heading into the holidays will be a counterbalancing force. dave: good news from dr barton, have a great weekend. the liberal media has been downplaying inflation and some have been trying to turn it into a positive. in yahoo finance maybe christmas shortages are a gift. the author goes on to say save money, time and aggravation by exploiting the pandemic shortages to splash your shopping burden. laura trump joined me now. happy thanksgiving, do you get that? i certainly don't? >> it is rather dumb. at a certain point this becomes pretty insulting for the american people as if we should
look at any of this as happening in our country as a positive of course we don't. it was all preventable. the miss we were in was caused directly by the policies of the biden administration, the policies of the democrat party. it was also avoidable that the mainstream media thinks we are gullible enough that if they feed us anything we are going to say that must be the case, this must be positive, the problem they are having is the american people feel it every day when they go to the gas pump, trying to hear their homes, when they had to fight -- buy food for thanks giving antidepressants for their friends, family and children, this christmas season things are far more expensive now than they were a year ago and everybody feels it. i don't think the tactic of telling us it is sunshine, lollipops and rainbows will ultimately work and it furthers the distrust that is at a historic high.
dave: this is a cbs poll, 67% of americans put the blame of inflation on president biden and his policies. the american people are not buying his notion that is because of the pandemic. sometimes he blames donald trump for it but americans are not buying for it. the independent voters which represent 44% of american voters dropping like flies from biden. >> it is a bad sign for the democrat party as we are less then a year away from a very critical midterm election. independents sway elections ultimately and the american people are smart. they know what changed, what was the common denominator.
it was president biden took office 10 months ago and that is when we have seen so much happen in our country that has been so bad for the american people. inflation up. is number one thing a first did when he got into office, canceling the keystone pipeline, now we are tapping into the strategic petroleum reserve, something that is supposed to be for natural disasters, wartime, not because you made a political decision that has hurt americans and is hurting our entire country, that is not what it is for. they see what changed and they know it is president biden and the democrats. >> is your father said too, the extraordinary thing is this president sees that we need more oil. he's begging the saudis and russians and other people to produce more oil when he is closing the us pipelines. it doesn't make sense particularly because they produce oil and gas in a much dirtier fashion than we do so if you care about the ecology of the world you should be producing it here. >> none of it makes sense, they
close the pipeline down but yet you have to have truckers take the oil across the country instead of through a pipeline which is much cleaner. to your point the way they produce the oil and fuel overseas is much dirtier than here and think about from a worldwide perspective what that does to america, we were energy independent, did not need to rely on all your from overseas, some of our adversaries, people we probably don't want to involve ourselves with if we can help it now we are relying on that and puts the united states in a bad place as we've seen time and again with president biden. if you care about climate we should have kept the keystone pipeline open. we could still open it up. why doesn't president biden do that? dave: something else is hurting americans, more of a local issue but something, the crime
issue. we had a murder in a new york subway, philadelphia has 500 murders for the year. that the record. the waukesha massacre. with they all share in common are these laws each of the states and cities have, releasing violent criminals, prosecutors who don't prosecute violent criminals, somebody has got to get tough. thankfully we have a new mayor in new york city coming into power in january but it can't happen soon enough. >> what do all of these cities have in common, these are all democrat run cities and it is there policies that are continuing to hurt people. there's been such a massive influx of people moving to florida, to texas, away from these cities that are not safe. i think new yorkers spoke up resoundingly as you are talking about.
eric adams, the mayor elect of new york city is a former police officer and they are saying we don't want crime, you cannot live in a place that is crime-ridden where people don't feel safe. they believe in that is what they've continued to do. they have to get tough. we have to protect people and without safety and security nothing else ultimately matters so people all across america are speaking up saying we need to refund the defendant police department, want crime to go down, we went safety and security and we will see what happens in major cities but if they don't turn it around people will continue to leave. dave: thank you for being here. have a wonderful thanksgiving day weekend. appreciate it. we will check the markets once again. it is improving a little bit but that's not saying much, still down 1000 points, haven't seen it in summer of 2020. all the indices are done well over 2%, even the nasdaq which was doing a little better because interest rates are
down, california has seen a string of looting and robberies, car burglaries are up but actor seth rogen says, quote, it is simply part of normal life in a big city. really? a diner in indiana is fighting the supply chain crisis but adding a 3% surcharge to customer bills. we are talking to the owner of jasper pub and grub about how diners are reacting. today is black friday, traditionally a brick and mortar retail day but this year is expected to be a blockbuster one for online shopping so how are fulfillment centers holding up. will you get your orders on time with all supply chain problems. we are heading to one fulfillment center in illinois coming up next. ♪♪
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♪ ♪ 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 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.
dave: checking the markets, off of the 1000 point dropped. it is down 984 points. a bad day for all the indexes so the s&p is down 100, the nasdaq is down 307 points. almost a 2% loss on the nasdaq and a quick check of macy's, the ceo there says black friday store traffic exceeded expectations in the first couple of hours, nevertheless the stock is down 7 and a third percentage points. when bush says apple is likely to sell over 10 million iphones this plaque friday weekend. best of luck to them. black friday shoppers hitting stores this morning but many getting ahead of cybermonday and shopping online. grady trimble at the shipment center in cicero, illinois with details. >> there are supply challenges here but also huge demand, this
is traditional brick and mortar holiday but people are expected to spend a record amounts online this black friday. adobe predicts americans could spend up to $9.6 billion today, that would be the second busiest day of the year for online shopping second only to cybermonday. they connect direct to consumer companies, they are a third-party logistics company so tell me what the trends are this black friday. >> volume is overforecast for we are seeing and some of the trends we are seeing, beauty and cosmetics doing really well as of this morning and so our health and fitness products. the brand line doing well. >> adobe says out of stock messages on internet e-commerce sites are up 160% compared to the pandemic. that's an indication of the
supply problem. power companies like yourself overcoming these challenges. >> we are trying to help merchants by putting more closer to the manufacturers so the time is faster and what we are seeing customers, customers or merchants moving their manufacturing to the us are close to the us. >> prices are expected to be up 9% this year but consumers willing to pay more, spending in record numbers. dave: some restaurants are trying to offset the supply chain crisis with a surcharge added to customers bills was the owner of jasper pub and growing indiana joining us now for details. you are adding a surcharge of 3%. the diners pushed back on that? >> we seen a little bit of
pushback but in general people are seeing the cost increase at the grocery store, 10%, 20% increase in cost and we are trying to juggle the cost over 7 or 8000 meals a month so we have a temporary surcharge, we are working with our suppliers to implement a new menu and new items but that's difficult to do right now with the supply chain being so short but in the short term we have 3% surcharge on our tickets. dave: so many issues to deal with. you are still recovering from the long period of slowdown during the pandemic and the lockdowns but you have inflation, supply chain, labor. which of those three issues is hitting you the hardest? >> the supply chain. you are not sure what you are getting in every week, 20%, 30% of the items you ordered don't show up. dave: what about hard items like stoves, dishwashers, i can't imagine you having anything but trouble trying to get those items right now.
>> i quoted a new deep fryer that is doing next august. working with that would dave: how do you deal with that? do you have an old one you are using in the meantime? >> you buy an alternative, more expensive or cheaper model. dave: inflation, how is that affecting you? how much more our prices than a year ago? >> significantly. every item we purchase is up 5%, to 200%. difficult to manage. dave: if you don't mind my asking what is your profit margin? a lot of restaurants have a 5% profit margin. >> i call this a game of pennies. most restaurants run 5% to 10%. we are chasing the volume. dave: best of luck to you. you guys are real troopers everything you have been through. i'm sure you're going to survive.
despite the bad news you still got the sense of optimism. good for you and hope you survive well. >> thanks for having me on. dave: we are talking california crime with harmeet dhillon. actor seth rogen says all this crime is a normal part of living in a big city. you bet we are going to take that one on coming next. ♪♪
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dave: apple and nordstrom, the apple store in santa rosa had 20,$000 worth of merchandise stolen it in la they say nordstrom was looted by five people, 7 or 8 expensive purses, real expensive worth 25,$000. the robbers also assaulted and pepper sprayed a security guard at the mall before fleeing the scene in a car but actor seth rogen says this isn't a big deal. he said, quote, this is just part of living in a big city.
harmeet dhillon joining me now with her take on that and other things. what do you think of seth rogen's comments? >> so out of touch to say that a typical attitude of a multimillionaire from hollywood who has security guards everywhere he goes and doesn't have to worry about his car getting ripped off because there is a driver and so forth. i moved to san francisco 21 years ago from new york city. i was tired of the crime over there and san francisco used to be a very beautiful city to walk around. for 18 years i walked to work but it has become too dangerous, too much random crime, even the most expensive areas of the city and my staff is constantly promise ties to buy break ins happening downstairs in the expensive luxury retail stores. there is no safe place unless you are someone like nancy pelosi or diane feinstein, they live in the mansions in a few blocks of pacific heights with
security. dave: private security, 100,$000 a year. maybe he is too young to realize that you can turn things around. we did that in new york. we had deblasio make it horrible but we turned around in 1990s with rudy giuliani, with the broken windows theory, you stop the small crimes and crimes dry up. it is very simple but that is how you do it. nobody is willing to take that step. i went to switch to another subject. i had donald trump on earlier and he says he doesn't think the durham report which just got an indictment is finished. >> the durham report is a great thing because it really, i don't think it is finished. i know and you know it has to go, i don't think they will do it because they never have the courage to do it. dave: what do you think? >> donald trump is projecting an optimistic attitude towards this. i may be more cynical but those
friends of mine who are closer to the situation say they believe more indictments will drop. in the biden administration, people involved in this steel dossier, involved in concocting these lies that want to the fisa court and involved in shielding hillary clinton from liability. i'm a little cynical because those people are now being selected to serve in this current administration and attorney general merrick garland is very comfortable weaponized in the doj. even though it is supposed to be an independent investigation what we've seen over the last few years has been very little where's the beef there so i hope donald trump is right because if he isn't right and these people are allowed to get away with lying to courts framing a president, effectively the grossest
interference with an election in american history, americans are going to lose confidence in the ballot box, confidence in our government, democrat or republican and that's not a good thing for the united states and not a good thing for national security either. dave: 10 seconds. with this highly politicized department of justice will they be pulling the plug on the durham investigation? >> we will see more lower-level if anything. dave: harmeet dhillon, thank you very much, have a great holiday weekend. it is time for friday's trivia question. what was the first giant balloon in the macy's thanksgiving day parade? mickey mouse, snoopy, betty boop, i have an idea but we have the answer when we come back. our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right? (judith) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest.
dave: we just asked you, what was the first giant elude in the macy's thanksgiving day parade and there is the answer. felix the cat. the balloon native debut in 1927. it was carried on stilts. the reason, the balloon contained air, not helium. check the markets, the dow is just over 1000, looks to be really tickling the market it hasn't tickled since summer of 2020.
including families, that is what i am most thankful for this thanksgiving good. can't look at that without laughing. that is my grandson and godson, a wonderful addition to this planet earth. people cannot possibly be depressed. edward lawrence was in for neil. >> i appreciate it. neil cavuto is off today. and and what you need to