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tv   Varney Company  FOX Business  March 16, 2023 10:00am-11:01am EDT

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stuart: that is new york city, 10:00 eastern, let's get to the money, 10 year treasury yield, down just real down 167 points. that the loss indicator. the european central bank, 50 basis points, the feeling is that emboldens jay powell to raise rates. the yield on the 10 year treasury continues to fall and we are at 3.2%. we were well above 4%. there is some green and red, not much of a decline for any of the men bank of america is acting on the upside. as for bitcoin you are looking at $24,890 just shy of 25 grand. that's the markets on thursday. now this. the video shows a clear provocation, russian jets jumping fuel on an american spider own, clearly a
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deliberate attack on our military. how do we respond? isn't that the dilemma we are in with the holder? how far should our response go? biden says we should do, quote, whatever is needed. florida governor ron desantis has waited right into this, he says it is not a war, it is a territorial dispute. giving long-range missiles is not an america's vital interests, he wants peace. that produced a thundering editorial in the wall street journal, desantis's first big mistake. to the journal governor is going against the raven doctrine of peace through strength. if you are two republican front runners, desantis and trump, walk away from ukraine, what does that tell the russians and the europeans? doesn't inspire confidence in american leadership. if biden does give zelenskyy what he wants and ukraine does beat back the russians, half
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the republican party looks like it has abandoned the gallant ally in a life and death struggle. the first republic and candidates debate is in august in the middle of the fighting season ukraine. they are going into this as a divided party. that gives the president an advantage. my opinion, biden should define winning. when he has defined it, give ukraine what it needs. that would be leadership. second hour of varney just getting started. been -- ben domenech, do you think desantis has made a big mistake? >> i think he made a mistake but i don't agree with the wall street journal editorial his critics who say he is someone who is throwing out the entire history of republican foreign policy.
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i think in order to get to that point of peace that a lot of us want to get to is going to require resources, but getting there is going to be something that needs to be carefully defined, according to the dispute at the center of this conflict. i think a lot of people overreact to early-stage declarations from presidential candidates, when they don't know a lot about her stance on the subject. in this case, because people don't know a lot about ron desantis's policy views may be putting him in a category he's not in. we need to hear more from him on this and other foreign policy issues, particularly china and others to have a clear idea. stuart: it is a split republican party at this stage. >> i would say yes but there's a lot more republicans who would basically say to your point, what is winning? what does it look like?
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they want a clear plan. they don't want the idea we are sending boundless resources to ukraine forever and ever, they want a clear line that leads us out of this conflict. stuart: i'm behind that one. you've got a new op-ed that we need a new word for woke. that's an interesting one. why do we need a new word? what should the new word be? >> there something that has gone on which we've seen a lot in the past, we had social justice warriors, all sorts of titles for things but the problem i have with woke which is so ubiquitous and used across the republican. call phrase it doesn't speak to the seriousness of the problem. it used to refer to people a decade ago who had silly ideas about race in america. now includes people who have
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existential conflict with the american idea it self, with the west and everything that has made us great. it doesn't capture the kind of transitions we are seeing advanced in schools targeting young people. because of that, it's kind of shorthand that we need to move beyond, something politicians are going to use for the foreseeable future. we need to understand when it comes to this type of thing, there's a difference between putting rainbow signs on their lawn, the people, refugees being welcome in their household, and people who want to indoctrinate children with falsehood about who they are and who they are allowed to be, to purify the planet, starting with you and your family. stuart: thanks very much, see you again soon. the school board in california filed a lawsuit against social media companies. lauren: the grounds would be they create snap, google,
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tiktok, obstructive environment for children, which parents, educators deal with mental health breakdowns. look at the algorithms, feeding constantly. videos and content, it creates bad habits for children and teenagers and if they want his contact removed they call the social media companies and they take forever to do something about it. they say we are putting parents first and into the conversation and all these protections. stuart: so they sue it. lauren: they are mad. ask any educator and they say mental health is an absolute full on crisis. stuart: a celebrity investor, kevin o'leary. i call him mr. wonderful. he says america doesn't need regional banks anymore.
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>> does america need regional banks anymore in an internet age? when all the banking is done online? this is tough love, we need to move to a model other countries have done, don't shoot the messenger. this is a fact we have to debate. stuart: gary, regional banks are in trouble, if they go away, they get more powerful. how do you feel about that. >> i suggest not only the big banks get more powerful but the government gets more powerful because they are in bed with each other and that's a huge problem. what we had happen in the last week is the problems in the banks caused by government are being protected with no capital
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that they have of a government $32 trillion in debt. i call it an incestuous cesspool and that's how we got to this point. stuart: if it comes to that you let it crash? >> we have a bailout. the government bailed out the bank deposits and bank losses going forward with their treasuries that they are forced to purchase long-term to get pennies on the dollar as far as yield, we are in a situation where darned if you do, darned if you don't. we are in this position of what do you do now, how do you tell depositors they lose any money. i would not have got to this point in the first place because i would let free markets work to distort every pricing yield and print $9 trillion causing inflation and
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getting us to that point, and it is a market cap of $5 billion out of business because of debt, $54 billion in debt to cover their you know what. it is screwy across the pond and where it stops i don't know. the fact that yellen doesn't want everything to be a-ok doesn't give much confidence. stuart: you are not inclined to buy much in terms of the stock market today. >> there are big money flows into the mega tech, not sure how long, selling everything to purchase the biggest liquid items out there but there's a select narrow group working pretty well and i'm watching them very closely.
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if they want to go higher, i'm going to be in them. i'm unsure if they have longevity. the rest of the market is in trouble. stuart: we've got it. thanks, see you again soon. tell me about the new republican bill to protect big banks against failure. lauren: it is a bill from republican senators from missouri and indiana, josh howey and mike braun, they call this bail out a bailout, they are using that word and don't want customers to pay for it. they have a bill prohibiting 3 things, first one, the bank cannot pass on a special assessment as a free. the second thing is to prohibit the fcic from levying a fee on the community banks and the third one is the fcic to claw back the bonuses paid to the executives of silicon valley. that's their proposal. stuart: back to the overall
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market, looking at the movers, snap moving to the tune of 4.7%. lauren: the uk has banned tiktok on government devices. in the us, reports of telling tiktok, the chinese owner needs to celebrate they are going to ban it for everyone, that tiktok restriction is good for social media companies like snap and meta-blooge stuart: a long time, they went down and down and down and now they struggled back to $30 a share. why? lauren: they were upgraded to neutral at susquehanna, they are above that now. susquehanna likes qualcomm, their push into ai and diversification and they say when you do that it's more difficult for competitors in taiwan, they say qualcomm is ahead. stuart: something called the honest company. lauren: jessica alba, $2 and
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change, digital sales fell sharply and some of their partners that purchase the company products, skincare for instance, cut back on their borders. stuart: she was on the show once. thanks. kamala harris, her husband criticized for linking frustrated parents at school board meetings to the holocaust. watch this. >> that one woman who was saved in the holocaust in germany settled in ukraine and is a refugee again, back in berlin. just going to school meeting, you see the hate that is out there. stuart: i thought democrats were big on uniting the country, doesn't look like it. and hoping to defuse growing tensions, we have the story. brand-new video shows the russian fighter jet jumping
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fuel over the us drone, how should we respond? i will ask anthony tata who is on the show next. this small thing, is the next big thing in dia this s woah.hing, it shows your glucose, and predicts where it's headed, just like that. it's not magic, it just feels that way. i wanna make you go wow, make you go wow, make you go wow. your record label is taking off.
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stuart: here are the big tech stocks, apple slightly lower, amazon up 1.4%. not a bad game. meta, $0.45. alphabet up, microsoft down. the pentagon released video showing the moment a russian fighter dumped fuel over the us drone. mike tobin is with us in ukraine. can the russians go get the down drone?
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>> they are certainly trying to get the down drone. it is 4000 feet, 5000 feet of water. anything of value on that drone has likely been destroyed at this point. at what we've seen so far supports what the pentagon has been saying since tuesday. it is not consistent with what the russians are saying. one of the two russian jets flying up behind the drone, the m q 9 reaper drone. it is shot with the camera looking to the rear of the aircraft. the plume behind the fighter jet that you see, the pentagon says that is the fuel jump. a drone pilot tells fox news the fuel would not have been effective in disrupting the operation of that drone. you see a second flyby from nsu 27. this time to feed goes to digitized and color bars, that
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is when the drone was struck. there are stills made from the video and released by european command showing the emq 9 propeller intact, a second showing the propeller damaged. the strike was not deliberate because the plane and pilot are at great risk. the pentagon says the aggressive flying was deliberate. >> this hazardous episode is part of a pattern of aggressive, risky, buy russian pilots and international airspace. >> reporter: you talk about the drone where it was ditched in the black sea. russian ships wasted no time getting there according to sources speaking with fox news, the ships are at the site of the wreck in the black see at this point. the us does not have any warships in the black sea, the us is at a disadvantage but recovering that wreckage is
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difficult at 5000 feet of water, anything of value he believes is already destroyed. stuart: thanks. general anthony tata joined me now, brigadier general, welcome to the show. i read your stuff and we should be really getting to peace talks between biden, the russians, and the ukrainians. you want peace talks, you want them now. >> anytime there is a conflict, remember the balkan war? stuart: that is called the freezing of video in midsentence which we will try to get the brigadier general back to breakdown -- i'm going to move on because we are trying to get back to the general shortly.
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we have a standoff between china and the united states. what is the white house doing to defuse these tensions. lauren: they are praying president biden's relationship with xi jinping over decades works, putting their eggs in the personal diplomacy basket. any leader needs a relationship, needs personal diplomacy with xi because he is the head of china for life. quinnipiac put out a poll. they find 6 in 10 americans see china as the biggest threat to this country behind russia, behind north korea and iran. there's concern that china invades taiwan. the list goes on. what does biden do about it? stuart: personal relationships won't make it. we have back general anthony tata. i was asking, you think we need peace talks now. why now?
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>> anytime you have a conflict, you want a path out of their, you want to bring harmony and stability and particularly central error. remember the bosnia serbia attack, kos of oh, wesley clark, under president clinton, they came together, brought everybody together, locked them in a room in dayton, ohio, developed the peace accord. it wasn't perfect but it is workable. today we have small economy, maintaining peace in the balkans. it' s a similar kind of operation where heavy artillery, brutal combat, the same thing is happening here and when you look at this through the elements of national power, diplomacy, information, military, economic, military has carried the brunt of this. we deployed combat teams to
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poland and romania and the baltics. diplomacy has been todd:. where secretary blinken on this? i'm not sure. there's been no conversation. there has been no outreach to the russians to find a solution. stuart: would you let the russians win? when? would you let the ukrainians -- that's entirely possible. >> i don't think it is a 0-sum game. i think any time you have this kind of combat, the balkans are a good example. everybody was a little bit upset at the solution but at the end of the day we have peace in the balkans, you've got to have that conversation. when the russians took crimea under president obama, you are not allowed to say you want to have the conversation.
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i don't think letting the russians when, compelling the ukrainians to win, restoring all the ukrainian border, where does it stop? stuart: winning has to be declined, when we do that you should figure out what to do. brigadier general tata, thanks for being on the show. stuart varney talks football. aaron rodgers making the play to play in the big apple. watch this. >> since friday i made clear my intention was to play for the new york jets. stuart: something seems to be holding him back from joining the new york jets. dave portnoy will join us. now is the time to purchase big
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bank stocks. roll tape. >> you should be greedy when others are fearful and fearful when others are greedy, now people are fearful, time to be greedy. stuart: we will follow up on that next. ♪ ♪ (vo) the fully electric audi e-tron family is here. with models that fit any lifestyle. and innovative ways to make your e-tron your own. through elegant design and progressive technology. all the exhilaration, none of the compromise. the audi e-tron family. progress that moves you.
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stuart: the dow is down 224 points. what the europeans are doing and what we are going to be doing. lauren is back with some movers. lauren: similar to the dollar store. every cost $5 or less. muted outlook for the first quarter because customers pulling back on discretionary spending. there's nothing you really need. people are starting to pull back. stuart: next one is on holding. lauren: the sneakers everyone is wearing that says on on the side, they have an internal survey and they said brand
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loyalty, customer loyalty on par with nike and lululemon. stuart: remember blue apron during the pandemic? they are up $0.77. lauren: their loss in the past quarter was narrower than expected but they still lost money. 70 cost reductions like salary cuts, they are working. they plan to save $50 million annually because of this cost-cutting plan, the stock is up 2% but still $0.77 a share. we one marco rubio wants the treasury department to prioritize national security. lauren: ensuring that foreign adversaries, countries that do not like us don't require any acid of silicon valley bank or silicon bank. it seems obvious but you never know. regulators to purchase all the assets of both these banks are due tomorrow, they want to resolve the situation as fast as possible.
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senator rubio is asking for data. who are the depositors in these banks became from china or hong kong? find out who they are and they expect to be reimbursed for $250,000. stuart: in my opinion yes, might be an unpopular opinion. ken fisher was on the program yesterday and said now is the time to purchase big bank stocks. >> just about the best shape of my 50 plus year career in markets. when you get the bank failures you don't know where stocks will be 45 days later, in two years they are higher. as warren buffett said you should be greedy when others are fearful and fearful when others are greedy, people are fearful. stuart: very interesting, dr barton is with us, are you on board with buying big banks nauert expectation of a nice
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again a couple years down the road? >> i really am and i think several of them are really well-positioned to. i wrote you in my notes that i like jpmorgan because of what they've done leading up to now. they have shown so much strength, made money hand over fist to the tune of $46 billion. strong reserves, too big to fail category. it's pretty safe for american investors to put money in too big to fail when they have a 12%, 13% holdback. stuart: show me the regional banks. looks to me like they are down again, enormous volatility, first republic 30%, still a lot
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of jitters in the second and third tier banking industry. that has got to be a worry. >> certainly, you can't ignore that at all. you don't want to dump your money into a big bank right now but you might want to start taking some little nibbles, now is a good time in jpmorgan or bank of america because of their underlying strength, the balance sheet, debt to asset ratios. some if they have a further pullback but i'm not ready to bottom fish the second or third tier regionals yet. stuart: dr barton, see you soon. many americans are on edge after two banks collapsed in two days. you have talked to a lot of people. i they still worried about that money?
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>> reporter: some have their concerns. there's plenty to have anxiety about. the economy at large, soaring inflation, now this, every day consumers, they could worry about the health of the financial system. that is what we asked folks on the street. i they worried about the banks? >> there is protection in place. >> the more i am hearing -- >> at least for me a cause for concern. i'm paying attention, not freaking out. >> told that i should be? i don't know that i am. >> it worries me that banks failed. hopefully we learned lessons from the past that can help us today. lauren: maybe that's an encouraging sign. if a lot of people said they didn't trust their money sitting in a bank that would be real trouble.
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officials were quick to step in the saying depositors would be made whole. we can debate if that's the right approach but the message is reaching the public at large and providing confidence. stuart: good stuff. next case, governor desantis says sending ukraine, sending aid it to ukraine is not in america's vital interests. officials in ukraine want to the governor to come visit. we have the story. homeland security secretary mayorkas says the border is under control, the border patrol chiefs as it is not. >> will you testify under oath, do we have operational control? >> yes we do. >> does dhs have operational control of the border? >> no, sir. >> that is a stark contrast. bret baer is going to take it on next.
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yeah. and to share that with us that we need to get the word out that we have to take care of these great heroes and their families. you know, as i started to be more and more successful, i was like, how can i help? but when i heard of the tunnel of the towers, and i met brandon in idaho and his family, i was like, wow. there's actually a charity where we know where the money's. going to go. we have 95.1% of every dollar goes to our programs. and i think brandon's a great spokesman for t2t and and his wife, shannon, has two daughters. i mean, oh, my god. they're just special families. so pretty much, if you put your life on the line, if something goes bad, they're there. that's awesome. yeah. they're incredible people, man. you saw all the stuff we put in these homes, right? i was i was blown away. and they deserve it. they earned it. this is not of course, we give them a mortgage free home, but look what they gave up. they gave up their bodies so, cole, why should americans give donate help? tunnel to towers foundation.
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i mean, is there any better organization to help the people that has fought for this country and the freedoms that we have? it's that simple. it is that let's take care of each other. and you're going to join us on that mission. thank you. hey, i'm cole hauser. i want you to join me in supporting our nation's heroes and their families. it's only $11 a month. go to t2t dot org.
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stuart: human smuggling is rampant on the southern border. can you show me migrants being smuggled? >> we will in a moment but we are learning about horrible tragedy. a texas grandma and her young granddaughter were killed after a human smuggling being chased by police crashed into them in texas. this is 71-year-old maria, both of arizona, texas. dps confirming both of them are tragically deceased after they were crashed into by a smuggler who went through a red light. two illegal immigrants died as a result. a smuggler, us citizen from
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louisiana was still hospitalized. 's actions have killed four people including two innocent americans. tony gun dollars up rage tweeting a grandmother and granddaughter, a high-speed migrant chase. i'm heartbroken and also enraged which enough is enough. illegal immigration is killing americans. we need to stop with the rhetoric and deliver solutions. smuggling is rampant at the southern border. look at these images out of douglas, arizona, with fake license plates, finding 13 illegal immigrants dressed in camouflage crammed into that vehicle including two little children who are crammed into the cab area of that vehicle, incredible dangerous. lastly, another fentanyl bust. in arizona, cbp officers seizing 249,000 fentanyl pills
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hidden in the wall of a pickup truck's bed. that port of entry has seized 20 million fentanyl pills since october 1st. back here live, the border patrol report since october 1st his agents encountered more than 900,000 migrants at the border. we will send it back to you. stuart: never stops. us border patrol chief brad ortiz testified the us does not have operational control of the entire border. that's the opposite from what we heard from secretary mayorkas. there is a deep split within border patrol. what are we going to do about it? >> there really is. that was a stark answer the border patrol chief at that hearing along the border, democrats did not appear at that hearing and that in and of itself was an interesting
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moment to see those empty chairs. this is a huge deal and it is one that is politically dangerous for the administration as more and more of the evidence from the border is just in front of people's faces. it is not just those border states but states around the country feeling not only as i hit the hit from the surge of illegal immigration but also the surge of fentanyl pills killing people. stuart: wall street journal has a headline calling desantis stance on ukraine his first big mistake. ron desantis's first big mistake. he certainly split the party. do you think he made a mistake saying ukraine is not in our vital interests? >> he is basically saying, it's a long statement if you read the whole thing and there is more nuance than just those two words, territorial dispute but raised some eyebrows on capitol
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hill. i talked to some senators who said they were leaning toward supporting desantis but they thought that answer prevented them from doing so because they are in the mold of ronald reagan, in their words, to fight this aggression by russia and ukraine. the party itself is 40% republicans say there is concern about too much money and lack of transparency where the money is going and ukraine. the flipside is the argument that ukrainians are fighting, it's not us troops on the ground, they are pushing back russia. it is going to be a huge issue for the primary and 24. stuart: we cover this all day every day virtually. i feel there is an ominous feeling in america, china is confronting this, ukraine, the war, the bank problem, inflation. do you feel there is an ominous feel to america right now? >> there is an angst, one big
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thing to another big thing. the china question looms large. our economy is, some people are worried about it. stuart: that is another issue in 2,024. angst, we don't feel great. we are watching you tonight and that's a promise on special report only on fox. thanks. desantis says we should not send planes and long-range weaponry to ukraine, it is not in our interests, he says. how are ukrainians responding? lauren: the minister of foreign affairs has come to ukraine, come visit. we are sure that as a former military officer deployed to a combat zone, governor desantis knows the difference between a dispute and a war. we invite them to visit to get a deeper understanding of russia's full-scale invasion and the threat it poses to us interests.
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you will see it is not a territorial dispute but a full-scale invasion. there is a need for an accounting of how much money is spent, $100 billion by the us being matched by western europe through nato. stuart: do you expect desantis to go? lauren: if he does he has to have his head officially in the ring for the presidency of the united states. he should go. stuart: just in to us. france's presidency manual macron bypassed parliament and 62-64, expect the riots which is now in progress. president biden signed an executive order to strengthen background checks for guns. the attorney general is not keen on that. the attorney general could be here later in the show. the epa wants to limit the
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stuart: the administration is trying to penalize the makers of 27 drugs. >> it is more than the rate of inflation, starts next month. the administration says the drugmaker, to the medicare trust fund. 27 drugs are affected, for rheumatoid -- humira is impacted, cancer drugs, between $2, to $390. stuart: thanks very much. the environment protection agency wants to limit the number of what they call forever chemicals in drinking water, they will reduce it to the lowest level that could be detected.
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doctor marty makary joins us. what are these forever chemicals? and how dangerous are they? >> these are chemicals that will never be metabolized or excreted by your body. there are 200 and the average american your blood's system and many people believe there are concerns here. one of those forever molecules called pf a s used to be in tough client cookware and wrap material in fast food and dental floss. that has been extensively studied and found to be associated with cancer and neurological defects, even pregnancy complications so the epa will try to limit this. it has never been limited in the past, limit it to four parts per trillion. studies show there is some downsize even at one part per trillion. stuart: i can see this is going to be very expensive. brunswick county in north carolina, they spend $46
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million to filter chemicals out and cost is $3 million a year. would that be a good return on that kind of investment? >> many people are frustrated from a public policy standpoint. the companies enjoyed the profits of putting this in and they are playing for the cleanup or filtration and water treatment plants. many people are upset with the new epa regulation because it is an unfunded mandate. there will be costs with filtering out this compound. stuart: i'm trying to come to grips with this. anything you can name as downside risks to my health but removing it all, penalizing the makers, and that chemical in their products, doesn't seem to be right to me.
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>> public health advocates look at the fact that this is the most studied chemical out of all synthetic compounds that live in your blood system your entire life, babies are born with this chemical in their blood system and in those studies, large public health studies, it was found to be associated with bad health outcomes. let's focus on this one compound, may be inappropriately and not the other compounds that are synthetic and circulated in the environment. stuart: would like to get some bang for the buck. doctor makary, thanks for being with us, see you soon. wait for it. reusable water bottles contain more bacteria on a toilet seat. lauren: you will want to do this story? stuart: you are going to do it. lauren: they are 40,000 times more bacteria than the toilet seat. people behind this, the water
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filter group swabbed the bottles and found two specific bacteria all over the place, one that makes you resistant to antibiotics and another that could cause castro issues. there's as much bacteria on the top of the sink, the water faucet. you could say i will clean my water bottle more, but has come out of the tap too, not as much but there is still bacteria there when they swabbed it. when you have a baby, even a toddler, when they use a cup or bottle to clean every portion, you sanitize, i do. you to do that with your reusable water bottle once a week. that is stuff i don't want to know. i am drinking more water and not using more plastic when i have my yeti of water. might as well drink from the toilet. stuart: unfortunate visual image. before i go further, on the bottom right-hand corner of the screen, dow industrials now up
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one hundred points. still ahead. the attorney general of montana, dave portnoy, charles payne, jimmy phelan, kamala harris in the political trouble, diehard democrats walking away from her. this is not good for the country. of president biden stepped down while in office, vice president harris becomes president paris and given her performance so far that would be a problem for all of us. that is "my take" next. what if there was a community of like minded people ready to support you when you need it most?
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is there anyone else you want to explore here, together? where do you want to go? senegal 38%, portugal 29. did you know that? i had no idea. the more you learn the more you want to know, and then it just fuels that fire. we now live in a place our ancestors have been for many, many years and we had no clue. nigerian.
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