tv Varney Company FOX Business December 13, 2022 10:00am-11:00am EST
you could access your equity to improve your lifestyle. a reverse mortgage loan eliminates your monthly mortgage payments and puts tax-free cash in your pocket. call the number on your screen. - why don't you call aag... and find out what a reverse mortgage can mean for you? - [announcer] call right now to receive your free no-obligation info kit. call the number on your screen. ♪ it's beginning to look a lot like christmas ♪ toys in every store ♪ stuart: it is beginning to feel a lot like christmas. johnny mathis, good talent. i keep saying that was a beautiful christmas tree outside of fox.
we've come to the show, having your picture taken outside and send it to us. good morning, 10:00, straight to the money. big tech leads this rally, dow 600, nasdaq 400, big tech making a big play here. solidly on the upside. the 10 year treasury yield, meta, alphabet, amazon, microsoft, roll with the punches. the 10 year, 343, the 2 years 414. that is called an inversion and it is supposed to be a recession indicator. price of oil moving up $75 a barrel, bitcoin was close to $18,000, despite all the turmoil in the crypto area. that is the markets. now this.
how convenient. sam bankman-fried arrested hours before he was do to testify before congress. did someone get nervous about what he would reveal. congressman lee zeldin says house republicans were going to grill him 6 ways to sunday. building wanted to question him under oath about his relationship with regulators and his political donations to leftist causes. the arrest, cancellation of the hearing keep things under wraps. just when you need to let the sunshine in transparency is shutdown. reuters obtained a copy of what bankman-fried would have said in his opening statement of the hearing had taken place, the first line said i have up. he blamed his lawyers and the ceo of the bankrupt ftx, the loss of $8 billion was not criminal. the sec thinks otherwise, they say he ought a house of cards using customer funds like his
own personal piggy bank, spank lavishly on real estate it made those donations with customer funds, not his money, yours. right now he's being held in custody pending an extradition process. he may be extradited to the united states. we will find out what happened but i would have loved to see him, literally see him under oath grilled by the financial services committee, that would have revealed the true nature of a 30-year-old guy who ran a gigantic ponzi scheme. second hour of varney just getting warmed up. before sam bankman-fried was arrested he offered this excuse as to why he would testify remotely. roll tape. >> i'm quite overbooked and was not planning to be testifying until very recently.
i feel like i respect as much as i could for something like this where the blood coming from. it is difficult for me to move right now and travel, because the paparazzi affect is quite large. stuart: we brought in a special guest to deal with this, jimmy failla. 's bankman-fried the most unpopular guy on the planet right now? >> yes, a quick investing tip, i spent my 20s invest getting black blackjack and fast women and the rest of the money i'd. . home run. stuart: i said you are a special guest. >> never trust your life savings to a guy who shows up to a meeting in shorts and a stained t-shirt. when you heard him parading around prearrest saying i am overbooked, those are the words of a guy who expected to get away with it because he wasn't
bernie madoff, he was bernie paid off. he paid off all the rest, donated to half of congress, he thought he was going to skate, donated to everybody, did a crypto symposium with bill clinton who got a ton of money, he wanted in singles but the money was spent. stuart: the timing of the arrest is suspicious. >> of the democrats had their way they would have rather gotten him under oath today and said to the best of my recognition i don't remember i don't remember, because the arrest sends a message to what their top priority is now which is the next criminal's money. they are done with him because they have to be but last thing they want future criminals to think is if you donate to us it might not work out so they are in a tight spot. stuart: what i found amazing is venture capitalists went to see him in the bahamas, interviewed him in his shorts and t-shirt,
they still handed over hundreds of millions of dollars. billions. billions of dollars. looks like that. >> i'm a new york city cabdriver. it is the equivalent of any business transaction that begins with you are not a cop, are you? they are telling you this might not be on the level. if he shows up in shorts and a stained t-shirt, i don't mean to chris eyes his physique because i look like a before model but he is not exactly the picture of the model investment house you hope to for euro your future into. amy: one stuart: next time we got a story on this you are coming on the show. we are learning a lot more about the commodity futures trading commission, their charges against bankman-fried. susan: cftc is suing sam bankman-fried for violating federal commodity laws and
claiming ftx exhibitors took hundreds of millions of dollars in loans from alameda and used that cash to buy real estate and make those donations to politicians in dc. the cftc alleging ftx ant money for the crypto exchange to personal trading arm. they filed charges of fraud, money laundering, the longest to building, spf last night in the bahamas awaiting extradition to the us and the cftc has official oversights of the crypto markets, whether it is commodity or security, it is a bit surprising. stuart: interesting they built a back door, a code written soft door to get the money out
quietly. susan: $8 billion of customer funds has gone missing. stuart: good stuff, thank you. inflation rumors of the day, 7.1% up in the last 12 months. that is a slowing of the rate of inflation compared to october, slowdown in the rate, inflation seems to be cooling, the market loves it. take it off right now. what about mainstreet? main street still has to deal with 7% inflation which is a high level. what do you say to that? >> like going on a diet and lose a few pounds. you are going in the right direction. that's the right trajectory but it is like taking a suitcase off the queen mary. we have a long way to go. we can't have a bunch of people a pat on the back.
7.1% still high. i want to give the market time to digest it. i wish it had been more measured. this is too much excitement but it is going in the right direction. we have 5.1% inflation before we get to the 2% mandate the fed is talking about. john williams, the fed president of new york says it will not be until 2,025 and we will be wrestling with a significant amount of inflation and i happen to agree with it. inflation is going to be sticky and take longer to go away, we will have bad names too. this is nowhere near the end of the road. stuart: i'm looking at the inversion between the 10 year treasury yield and the 2 year treasury yield and that is predicting recession. you fall in the category? we going to get a recession? >> i absolutely do. all of those numbers are lining
up. also things, when you've got amazon, they are firing 10,000 people going into the holiday season. i only ever remember amazon hiring people going into the holiday season, not firing 10,000 because they've got metrics to see around the corner with the economy might be doing it is telling them this doesn't look too good. 1300 jobs over the weekend from a car manufacturing plant going into mexico. we have this drip of bad news when it comes to jobs. i'm focused on jobs because if that number rolls over and some folks think the job number, we have 100 million people they are not counting, in the double digits, not 3.7 but double digits. i still say that job is the key and they don't have money in the consumer is propping this up with savings and credit cards. vanguard put something else up
a few days ago saying they are seeing record withdrawals for hardships. that's not good either. stuart: that is not good at all, see you soon. susan is back with some movers including pinterest. susan: that is big outperformance, you're getting 4% up today on the nasdaq 100 so it is worth $30 according to piper sandler. they believe profit margins will improve. there was talk that was up for sale, microsoft was in contention and -- stuart: you are right. biotech seeing some movement. susan: we have a lung cancer treatment receiving fda approval and moderna is developing its cancer treatment. it was found to reduce 44% in skin cancer, melanoma.
stuart: the most frequent form of cancer. gold minor. susan: the company ceo stepping down at the end of the year. the chairman thought that it was his response ability for the company's failed attempt to buy arrival gold minor but interesting gold and bitcoin are not moving in tandem. against bad government policy. stuart: well above $1800 and bitcoin is getting close to $18,000 a coin. i want to talk about goldman sachs, they've got more layoffs. susan: we've seen sales go up this year but in terms of actual profit, that has gone down. we are looking at the biggest job cuts at goldman sachs, several hundred roles will be eliminated mostly retail banking and consumer but if you listen to goldman sachs and how they claim is job cuts, this is part of the natural job cutting
cycle with natural attrition happening on wall street which means you cut the bottom 5% of the performers. i would say the smallest violin in the world with bankers complaining about their smaller bonuses and slowing growth in the recessionary environment. that is stuart varney. stuart: sec chair gary gansler left out details of a meeting with george soros. high profile people. we have a report on that for you. washington state will pay the health insurance for illegal migrants. we will tell you how much the plan is going to cost taxpayers. the latest twitter file dump shows the furious debate to band donald trump's account despite no policy violations. we will deal with that next. ♪ ♪
as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts.
saving you up to 60% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. it's official, america. xfinity mobile is the fastest mobile service. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. that means you could save hundreds a year over t-mobile, at&t and verizon. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services, now with over 5 million customers and counting. get in on the savings and switch today. first psoriasis, then psoriatic arthritis. even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious...
and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. stuart: got to check the market because it opened with a gain of 800 points, moderated a bit, up 400 points, the nasdaq which had been a 500 points is up 330 but still have a rally on your hands. look at boeing, open on a positive note. they've got an order for 200 planes from united airlines, biggest commercial jetliner order ever. 187. the dow stocks too. the latest batch of twitter file show staffers believe trump's tweets around
january 6th did not violate policies despite what the company said at the time. anything on twitter files? susan: it is a closer look at the decision to ban trump after january 6th, driven by a small group of staffers that include the former twitter head of legal, characterize trump's tweets as a, quote, coated incitement to further violence. what these messages are showing, what was released by barry wise was the majority of twitter employees didn't actually think the former president violated any twitter policy with his fleet leading up to january 6th or in the days following. one in particular twitter staffers saying they would have had a hard time saying this is an incitement. elon musk is trying to wrap around the trump bannon the decision made by hundreds of
activist employees and is teasing more future twitter files to drop, when asked if he will release more information on doctors and scientists on what has turned out to be factual information, musk saying it is coming big time, the white house pushing back hitting out at musk again. listen to what his press secretary had to say. >> these personal attacks we have been seeing are dangerous on doctor fauci and other public health professionals, they are disgusting and divorced from reality. susan: the mainstream media has ignored a lot of twitter files, why not give it to everybody so everyone has access to the information as well as individual journalists. stuart: police vehicle spotted in the bahamas going to the court room where sam bankman tried may be making his
appearance. carl zabo at a company that encourages free-speech goes after workers, it seems like there was an internal debate within twitter and the activists won. is that an accurate portrayal? >> what you are seeing from these files, the woke rogue employee's used control of twitter and began content moderating. it is ironic it comes from barry wise who was kicked out of the new york times editorial board by rogue employees there but the good news is elon musk has taken over, making this information public and taking new steps people are not talking about like the community node feature which would enable users to be the ones to a vote up or down,
taking power away from rogue work employees and giving it back to the people, the twitter users, those are solutions made possible by the 3 market and the solutions as you pointed out k jp at the white house tried to stop. stuart: i know you are pushing back against woke, has its time come and gone? is it in retreat? >> i certainly hope so. it is not just twitter, the new york times, the washington post, all across the board, you are seeing the employees are calling the shots as to what is best for the business. hopefully elon musk is the cheerleader and spearhead reminding these ceos they run the companies, not their employees and everyone needs to work for the best interest of the shareholders, not some woke ideology.
stuart: as you know obviously sam bankman-fried was arrested in the bahamas and is expected to be extradited to the united states. in his opening statement which he would have delivered today's hearing he blamed his lawyers for the fiasco. you are a lawyer. what do you say to that? >> you can blame the lawyers but it is not the lawyers who go to prison. is the ceos, the bernie madoffs. that's what sam bankman-fridays. you are not painting yourself as an innocent party when you abscond to the bahamas with billions of dollars which is what he has done. what we are seeing is the gears of justice turning, they will grind down sam bankman-fried regardless of his millions in campaign contributions to the democratic party. hopefully justice prevails and he blamed the lawyers but at
the end of the day, sam bankman-fridays in handcuffs. stuart: you are confident we will find out what happened and where the money went you are confident we will get to the bottom of it eventually. >> you saw how quickly this indictment was announced, very fast when it comes to security exchange approaches and likely his ex-girlfriend, the person who ran the slush fund alameda is dropping the dime on sam bankman-fried. stuart: net choice, good stuff, thanks for being with us, see you again soon. the chairman of the sec, gary gensler, updated his public calendar to leave out mentions of high profile meetings. who did he leave out? lauren: some high-profile people, hillary clinton and george soros, the largest democratic donor, fox news digital noticed and got hold of his public calendar and how it
differentiated with his private calendar which did have a meeting listed with clinton in august 20, 2021. the public calendar did have soros on it but didn't have what the meeting's agenda was about, the spokesman says the updated calendars change from time to time but if you look at fox news digital they look at the archive copies of gansler public calendar and show he met with speaker nancy pelosi in september 2021 so if you are so transparent you are an apparatus of the government, federal agency, shouldn't you be transparent with people looking at who you are talking to and why? stuart: and why did you not report this meeting? susan: the infamous meeting with ftx. there was a debate whether this was planned, orchestrated, did spf pay to get the meeting will influence to get the meeting with gary gensler?
stuart: one day we will get to the bottom of it. the latest inflation data shows and easing in the pace of price increases. former labor secretary elaine chao, we will ask if inflation has peaked next. ♪ ♪ as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent
financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪ i know there's conflicting information about dupuytren's contracture. i thought i couldn't get treatment yet?
well, people may think that their contracture has to be severe to be treated, but it doesn't. if you can't lay your hand flat on the table, talk to a hand specialist. but what if i don't want surgery? well, then you should find a hand specialist certified to offer nonsurgical treatments. what's the next step? visit findahandspecialist.com today to get started. researchers believe the first person to live to 150 has already been born. it could be you!
wow. really? of course, you'll have to eat your greens, watch your stress, wear sunscreen... but to live to 150, we're developing solutions that help doctors listen to your heartbeat while they're miles away, or ai that knows what your body will do before you do. cool. introducing elevance health. where health can go. it's nice to unwind after a long week of telling people how liberty mutual customizes your car insurance so you only pay for what you need!
(limu squawks) he's a natural. only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ stuart: i want to check the markets. losing a little bit of steam, the dow is up almost 300 points. the nasdaq is up 260. solid gains but not as soft as they were half an hour ago. we want to start with four. lauren: susan: did you check the f one hundred 50 in front of fox square. motor trend car of the year on fox and friends, the second time an electric truck has won by unanimous vote. you would have gone out sticking it for a ride. you have an f 150, best-selling car in america for 60 years.
the f 150 lightning is the best-selling truck in america. the ramping to deliver one hundred 50,000 of these lightnings puryear by the end of the next year, chip shortages -- stuart: don't think that will meet demand. they are that good. susan: it is 40, 50, 60,000. stuart: republicans in the senate sounding off when senator schumer's huge spending bill, what are the republican saying? susan: i wanted to talk about nike but the democrats spending bomb, what they are looking to spend as they look for sequestration to delay the budget. stuart: what are republican saying? susan: they don't want any fat
or pork to keep the government running. we have a week's time so there's time to get that but they are not going for anything in the lame-duck session in that budget. stuart: okay, talk about that. i want to bring in elaine chao. madam secretary, welcome to the show, good to see you. i want to talk about inflation in a moment but first donald trump attacked you on the grounds of your ethnicity. i wonder if you will take a moment to respond. >> i don't mean to respond his comments. stuart: we were appalled at what he said and it is up to you what you say in response. inflation up 7. one% in the past 12 months, 7. 7%. do you think inflation has peaked? >> i hope so. i don't think so.
the pressure is against so many aspects as we continue. the administration continuing to churn out, unprecedented amounts of new regulations, putting hamper on job creation and further growth of the economy. as your listeners just heard congress under the majority of democrats are thinking about increased spending, so much money from the government into this economy. that helped to worsen the inflationary pressures and they have not learned from that but are continuing to think about spending. the workforce is a difficult place for workers to be. workers are suffering from high inflationary pressures, even as
there are over 10 million vacant jobs in this economy and workers wages are higher, the impact of inflation is at its eroding purchasing power. as workers wages are increasing, they are not earning as much because of inflation. this trend has got to be put in a difficult position. they are experiment with 75 that basis points, such an outcry on the too high basis points they have enacted the last four times but too much too frequent. the markets reacting adversely. the fed is trying to deal with that and understand their overreaction can plunge the economy into recession.
stuart: as former transportation secretary what do you make of president biden's green agenda? what do you make of that? >> we had an infrastructure bill, we wish our infrastructure bill had been the one that passed, democrats were basically holding out and didn't work with our administration to pass a much-needed infrastructure bill. what we are seeing, there are not as much transportation dollars going for transportation infrastructure. there are all sorts of other goals, the infrastructure bill, are being maximized to fulfill the transportation needs of the country. stuart: these hard breaks, they will cut me off in a moment. thank you for being with us.
>> we are said to be here. stuart: back with more movers. you want to get this news out earlier, it is up 1%. susan: it is being lifted to a price target of one hundred 20, calling it a by because of the brand value and you know how discerning customers are in the inflationary environment, they will only by brand they like. stuart: caesar's doing nicely, up 6%. susan: this is one of the leaders we've seen on the s&p 500 today and it is a because horseshoe lake charles is open for visitors as in southwest louisiana and an up and up play on what has taken place around the world especially in china with its 0 covid policies. stuart: many national parks close on holidays but yellowstone stays open for christmas. we have a preview of fox
nation's new special yellowstone christmas. we do know people who take christmas decorating to a new level. watch this. >> how are we going to get the star up. >> i've got it. stuart: that was funny. psychologist says the time you choose to point halls says a lot about your personality. we will follow up on that. we will be back. ♪ ♪ you make it feel like christmas ♪ ♪
thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪ there's no going back. they're looking for you. who? who's looking? there is no time. they will kill you....but my daughter. mama.
at walmart, save on thousands of gifts for everyone on your list. the savings are here all month long. plus get delivery on your gifts in as fast as one hour, right up to christmas eve. shop walmart online or in-store today. u.s. gold corp is advancing its environmentally friendly gold and copper mining project and creating
american jobs in mining friendly wyoming. with a proven management team and board including former secretary of interior ryan zinke, a tight share structure, and a solid cash balance, u.s. gold's portfolio of world-class assets are creating american growth and homegrown strategic metals as the us moves towards an electrified future. u.s. gold corp.
more realistic in nature. those who wait until the week before christmas may have problems with procrastination and tardiness. that is right up your speed. susan: tardiness is definitely me. i show up 30 minutes before the plane takes off and if my luggage is put on your plane and they don't let me on it they are waiting an hour to take my luggage off. stuart: you are the one who arrive 30 seconds before your due to go on television demanding a chart. get into the spirit this holiday season with fox nation's new christmas special cawley yellowstone christmas. >> reporter: yellowstone asked peak season goes from august to september. christmas is when the park's calming and tranquil beauty comes alive. many of the national parks close on america's national holidays but during christmas yellowstone is still open showcasing the magic of the season.
stuart: abby hornicek is in charge of this. what will be see? >> reporter: a lot of beauty and something people don't get to witness. we are used to talking about yellowstone national park in the context of summer, spring, fall, but you get to see it in wintertime, the holiday season. i said in a soundbite it is open during christmas. not every national park is open on christmas. you can go snowshoeing, ice skating. we are seeing images now. the bison you pointed out, the largest mammal in north america and when you see that with snow covering its coat it is stunning but i learned something from the last segment you did. i would have invited you to go to yellowstone with me but you like to show up for two hours in advance so -- stuart: i show up at airport at least 3 hours.
>> reporter: you have a hard time living in the moment. stuart: living in the moment. i am outnumbered here. we will be watching on fox nation, thanks for being here. many families are tightening their budgets this year which means less money going to charity. madison madison alworth, how big a hit will they take? >> reporter: some are seeing 10% less donations this year compared to last year and that makes a big difference because all the money that goes into a kettle is distributed to the local community. i want to bring in national commander commissioner, tell me about the donation, there's an increase, you're having trouble getting more donations through the door. >> we are not surprised. everyone is living under extraordinary circumstances
this year. as many as 2 thirds of americans living paycheck to paycheck so many people who would normally give to the salvation army are coming to us for assistance. >> reporter: the increased need from 30% to 50% on average, some locations 400% increase, why are people coming to the salvation army? >> they are forced to make choices between paying their utility bill or their rent, christmas toys for the children and providing food for the table. these are choices people shouldn't have to make and the salvation army wants to help them meet those needs and to have and have a very merry christmas. >> reporter: a unique opportunity, the battle behind us, every american recognizes that kettle. putting in the extra change when shopping, what difference does it make to families? >> every gift matters. small amount of money can have a transformative interest on an individual's like a child's future because they will never forget the time one of their
neighbors in their local community made a difference in their own life. >> reporter: thank you so much. >> very merry christmas. >> reporter: small donations make a big difference. those kettles which change in people's pockets, last year $100 million raised, a small amount can make a big difference. stuart: $100 million, thanks very much. see you again soon. back to the market. moderation, we were up 600, 700, 800 points, we are up 279. nasdaq up 250 as we speak. reuters is reporting sam bankman-fried has arrived at the magistrate's course. we he is there and he is being charged today.
susan: we have satellite satellite trucks and camera crews outside the courthouse in the bahamas. we are looking for shot. stuart: looking for the shot, see what this guy looks like. still had senator elect john fetterman, known for constantly wearing that black hoodie when campaigning but they put him on the list of this year's most stylish people. a new zoning law in california to create more affordable housing for residents. real estate guy mitch rochelle will tell us if this will address the housing gap. that is next. ♪ the dribbler, and the day-dreamer... the dribbler's getting hands-on practice with her chase first banking debit card... the drummer's making savings simple with a tap...
...round of applause. and this dreamer, well, she's still learning how to budget, so mom keeps her alerts on full volume. hey! what? it's true! and that's all thanks to chase first banking. freedom for kids. control for parents. one bank with tools for both, all with no monthly service fee. chase. make more of what's yours.
the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. first psoriasis, then psoriatic arthritis.
even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. stuart: moderating rally. 7.1% inflation at the consumer level over the past 12 months considered a good number by wall street and the market rallied. we come back a bit since then, dow up 200, nasdaq up 232. a new zoning law in california could knock down a single-family home and replace
it with a multifamily unit. this is a way to address the housing gap. mitch rochelle joins us. have i got this right? in california, you can take down, take out a single-family home and replace it with up to twee 8 - up to 8 rental units, is that accurate? >> that is accurate and you would think of all places that would be progrowth would be california but it is smart, the way with housing affordability is availability, we talked about supply and demand, tear down, build up 8 rental units on the same site, great way to solve the problem. stuart: it is the law of california. has it started? take downs and new units built? >> i mention it because i'm working with a client.
the law has been on the books for a while, challenged multiple times and has been held up in court because it on the books for the right reason. people have to live someplace and this is a great way, 1200 square-foot ranch house, 6 or 8 departments that are large in the same city. a great way to find places for people to live. stuart: i am sure you've seen this. interest rates are falling because favorable inflation reading, mortgage rates will come down some more. >> i expect mortgage rates to come down with interest rates, a lot of what was keeping them down was the asset purchase program pumping liquidity into the mortgage market and unwinding their balance sheet, you are not going to see as much movement that you normally would but you will see mortgage
rates, certainly a good thing for anyone who wants to buy a house. stuart: thanks for joining us, see you again soon. lawrence livermore lab in california successively produced a nuclear fusion reaction. susan knows about this. could eventually supply power? susan: one day. it is the first step of many. it could take decades but this is the first time ever for net energy gain. a small cup of this fusion fuel could possibly power your house for centuries. not just one century but centuries and comes with no carbon emissions, no radioactive waste, but only if true. we are waiting to hear from the energy secretary later today. nuclear fusion is different from nuclear fission which is the mushroom cloud and what powers nuclear power plants. fusion is when you combine two
atoms into one and the energy you get from that instead of splitting atoms. stuart: that i understand. susan: i took biochemistry. that was my minor in university. i'm such a nerd, these -- this is the holy grail and energy. they are looking for net energy grains for decades in these experiment. stuart: coming up for you, sean duffy, border guy brandon judd, vivek ramashwami and leo terrell, huge group of migrants, 1000 strong, walked across the border saturday night. last weekend alone, that is the start of a new surge, title 42 ends, the floodgates are opening wider. that is "my take" next. ♪ ♪
♪ i got into debt in college and, no matter how much i paid, it followed me everywhere. between the high interest, the fees... i felt trapped. debt, debt, debt. so i broke up with my credit card debt and consolidated it into a low-rate personal loan from sofi. i finally feel like a grown-up. break up with bad credit card debt. get a personal loan with no fees, low fixed rates, and borrow up to $100k. go to sofi.com to view your rate. sofi. get your money right. ♪ what if there was a community of like minded people ready to support you when you need it most? christian health care ministries is an organization with over 40 years of trusted care who understands the importance of family. a group that sees you for who you are, regardless of your health history, offering values based affordable health care cost solutions. learn more today at yourchm.org