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tv   Varney Company  FOX Business  March 23, 2023 11:00am-12:00pm EDT

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hi, i'm jason and i've lost 202 pounds on golo. so when i first started golo, i was expecting to lose around 40 pounds and then i just kept losing weight, and moving and moving and moving in a better direction. with golo and release, you're gonna lose the weight. >> i think there is a 75% chance that we have a recession within the next 12 the-18 months. in my mind, it's a question of when and not whether. >> if you look at the fed funds futures, the market is effectively saying it's a toss-up whether there is another rate hike or not by june. the market is telling us that we
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are at the end of the rate hike cycle. >> inflation could still be heading higher. the fed said a lot yesterday that is sill to be played out by the markets, so i think it's best on the patient than dive right in. >> i think we are going to slow down a little bit in hose the rate rise ares. it's a good time to put some more money to work in stocks. the april before a presidential election year is one of the strongest months in the whole presidential cycles. ♪ stuart: is this head-banging music or what? ♪ lauren: iggy pop. >> hey, girl. [laughter] stuart: 11:00 eastern time, it is thursday, march the 23rd. we're having a good time on the set today. why not? look at this, the dow is up 456 points, almost erasing
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yesterday's 500-point loss. and the dow -- i'm sorry, the nasdaq, i'm getting excited, the nasdaq is up 2.3. beat that, folks. it is a rally. how about the yield on the 10-year treasury? right about 3.5%, yeah, below 3.5%. show me the big banks after yesterday's rate hike by the federal reserve. they're all doing well. when they're up in percentage terms, that's pretty good. 2%, 2%, 1% for citi, goldman and jpmorgan chase. lauren: microsoft's up. stuart: thanks. love ya. all right, now this. the extremes are getting more extreme. the fringe gets further and further out. a sure sign of desperation. if the message doesn't get much traction, amp it up. go to the extreme. that's what we're seeing. the risk is that the extreme message will be ridiculed. the risk is being ignored or laughed at. i think that is happening. i think we've reached peak wokism for want of a better
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word. a couple of extreme examples, a college in michigan will hold separate graduation ceremonies for black students, asian students, latinx, native mesh and lgbtq ia+students. the town of louisville in colorado does not want any new gas stations because as a counselor tells us, quote, we have an obligation to take every accept the possible to address changes to our climate that are ravaging our planet, end quote. i know it's a little town, but this is where the extremists want to take us, and i don't think we want to go down that road with them. perhaps they were taking their cue from the u.n. climate panel which warned again that the world is running out of time if humanity wants to avoid a climate catastrophe. they're again saying doomsday is getting closer, and i think they're being ignored. here's a sign of retreat from the extremes.
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tier ran steinback has been placed on leave, she interrupted a talk by a federal judge and hen then led a walkout to. at a first, nothing happened. ah, but the backlash, fortunately, was so strong, the extremist is on leave. again, i sense we've reached peak wokism. i hope i'm right. third the hour of "varney" is just winding up. ♪ ♪ stuart: you know who's on the set now? perfect guy to poll up on that -- >> there it is. stuart: tense up, son. this is jimmy failla, the man who's been following all things woke since the word first appeared. do you see any signs the extremes are being ignored and laughed at? >> i can tell you this as a comedian, this is a win for everybody. the reason the woke mob did have
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power is at the beginning of the social media era, we didn't know how many there were. you get a news article, everyone's mad. and then you'd find out everyone was one guy with three cats. [laughter] but a lazy journalist was able to further that narrative, and it was able to look like, okay, that they had the numbers. but the truth is -- truth is it's always been the tyranny of the minority. dave chapelle kind of exposed it after his netflix special. the truth is if you just broke down the world, okay, we're always going to be on the side of the fun people, okay? if these people are anti-fun. the woke mob, okay, are the ones looking for offense. they're cultural arsonists. they're setting fires, okay, to get attention for setting fires and ultimately putting them out. you're never going to go to the party and wait for the guy who gets upset about everybody. nobody wants to hang out with him. so there's a big crack in the or or around -- armor, and speech is emboldened, and i'm thankful for it.
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[laughter] stuart: okay. another one, and this is for you. philadelphia could soon be handing out $1,000 a month to pregnant women. the department of health i thinks it will help reduce infant mortality rates. it's a cash payment, there are no strings attached. is there just another universal basic income scheme? >> it sure reads like it because there's no to stipulation that i says the money must be spent on the baby, you dig? so if you're giving people $1,000 a month but there's the no way to make sure it's invested in the kid, how does this not become a hustle, you know? we've seen this with a lot of foster parents who have the best intentions and do invest in the kid, but there are also people who keep adopting foster kids because they're getting a stipend but don't necessarily work on the well-being of the kid, you know? so i think their heart's in the right place, i just think they need to take this a step further, or it just looks like an effort to purchase votes on the back of an issue we do care about. stuart: vote buying. >> because we care about infant more toalty, we care about
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this -- stuart: of course we do. that's not the way to go about it. lauren: san francisco is giving $1,215 to black and pacific islander pregnant women who make as much as $100,000. stuart: what? >> i just changed my identity. [laughter] good day for me to come out as a trans-pacific woman. stuart: just because they're pacific islanders and black. lauren: yeah. they looked at infant mortality rates, and i think want to see what happens if they insure that population gets better health care, perhaps, by giving them that money, and the salary cap is $100,000. stuart: so it's an experiment. lauren: lasts about a year. >> they don't point to the specifics of why the mortality the rates are what they are, when they say we're just going to spend money and see how it goes, that only makes problems bigger. i can tell you that as a guy who has gotten many in trouble at the blackjack table, let's see how it goes.
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stuart: i'll i'll take your word for it. [laughter] all right. that's politics and culture. let's get back to the markets because that's a very nice rally, folks. look at it go. 458 up for the dow, that's 1.4%. 280 points up for the nasdaq, that is 2.4%. and the s&p's up 1.7%. that's mice recovery rally from -- nice recovery rally from yesterday. mike lee with us this morning. mike, we've got the rate increase from the fed, statement that inflation's supposed to go down. is a time to buy? >> um, you know, i wouldn't. i'd be with using days like this to talk cyclical assets off the table. so tech, consumer discretionary, financials. look, i think the fed is going to overshoot in termses of raising rates to attack inflation because they can afford to overshoot. if they undershoot, so if they stop the hiking or they cut too early and inflation comes back and hay need to attack this problem again, think of all the
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systemic issues that'll cause. so whereas if they overso shoot and we go into recession, they can cut rates very, very quickly. so, look, i am not positive right here. we have contract liquidity, slowing economy, earnings estimates are too high, earnings estimates are for negative growth, and stocks are trading at 17, 18 times earnings. i mean, i do not think this is a good situation ooh right now. stuart: surely we're not setting up for i any significant decline, are we? if. >> so, stuart, look, i think the only way inflation stops is with the recession, and i think the fed is going to keep bending and bending and bending until it breaks, and i think silicon valet bank was a lapse -- valley bank was a lapse on the part of the regulators and management, and i don't think, you know, it could turn into a systemic issue, but we're not there yet. until we're there, i think we get another 25 or 50 basis points from the fed. i don't think we get rate cuts
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anywhere near in the time frame that the market's pricing them in. so look, again, leading economic indicators down 11 months in a row. you always get a recession when something like that happens. stuart: are we back to the old chest nut in the fire, that is 3 and 6-month treasury bills in. >> yes, absolutely. you could be buying money markets paying 4.5%, you could be buying 1-year treasuries close to 5%. look, it's safe there, right? you're not going to lose that money. that's a good return over the next 12 months. stuart: meanwhile, i've missed out on some very nice rallies in cybersecurity stocks, in big tech stocks, nvidia. i missed out on all of that. i missed it. >> well, it depends, you know? look, it's very easy to sit back and hindsight's 20/20, but i don't want to say that's gambling, but it's not that far off. the fundamentals are telling you that this is ugly, it's going to stay ugly. and, yes, there are pockets of return here and there, but if
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you're looking for for risk after i i -- risk-adjusted returns, let's not roll the dice. stuart: i've done it a few times and lost. mike lee, thank you, sir. i want to talk about netflix. huge winner. they're laurenst the leading the s&p 500 with a 9% gain. there is no news, at least that the we can tell, but the streaming stocks are all up. apple gaining 2.25%. bloom berg is reporting they're going to spend a billion dollars this year on movies, big hollywood blockbusters is the goal, and have those movies be with in the theater or or for at least a month and then come to their streaming site. stuart: that's a lot of money. >> so maybe netflix is going on the spending a lot of money too on potential blockbusters. stuart: i've not seen gains like that in netflix for some kind. then we've got -- lauren: up by almost 8% because they're cutting jobs, 19,000 of them. that's 2.5% of their staff. why? i.t. spending is slowing down.
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stuart: and the stock is up. and another one where they're cutting staff, and i think the stock is up, and and that would be marvel technology. finish. lauren: isn't this interesting? their reportedly cutting -- they're reportedly cutting 4% of their staff. take the two stories together, look at what's going on macro. you have inflation and high prices, you have the potential credit crunch. a hard landing might be in the future. not just recession, but maybe a worse recession than we think. stuart: cut staff, up you go. stock up, staff down. got it. thanks, lauren. one member of the squad totally against banning tiktok. jamaal bowman says the push to block the app is rousist and xenophobic -- racist and xenophobic. the house freedom caucus firing back after the white house called their budget plan a fife-alarm -- five-alarm fire for families. watch this. >> she obviously count know economics because is she works for a guy who ignited inflation in our economy. if she took an economics course,
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maybe she would realize that. stuart: moreen that coming up. 40,000 students -- 400,000 students will miss school for a third day as teachers and staff continue to strike in l.a. where's the governor? silentful we'll deal with it next. ♪ everybody says say something, say something, say something ♪ the new chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the new ink business premier card from chase for business. make more of what's yours.
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i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. hi, i'm katie, i've lost 110 pounds on golo in just over a year. i was a diet soda addict, and i needed to have a diet soda every morning as my eye-opener. with the release, the cravings are gone. golo worked for me when i thought nothing would work for me. the first few weeks were really astonishing how quickly and how easily it came off, how much better i felt, what a change it made so fast. i feel like anything is possible
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after accomplishing what i've done with golo. ♪ radio killed -- video killed the radio star ♪ stuart: that's got a nice rhythm to it, doesn't it? you could stand up and dance to this thing. video kills, what? lauren: the radio star. stuart: what is the name --
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lauren: i'm not sure. stuart: what is it, frank? lauren: it's the bugles just like i told you. stuart: in case you didn't know, you're looking at capitol hill right now, and it's 56 degrees right there, or right now. listen to this, one democrat congressman is calling efforts to the ban tiktok racist. lauren: yeah. stuart: okay. lauren, why does jamaal bowman think banning tiktok would be racist? lauren: he's very lonely. he's a lonely democrat defending tiktok right now because he thinks republicans don't like the chinese, therefore, republicans are racist, and this move to ban tiktok is racist. let him explain. >> republicans in particular have been sounding the alarm, creating a red scare around china. let's not be racist towards china and express our xenophobia when it comes to tiktok, because american companies have done
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tremendous harm to american people. [laughter] lauren: yeah. i don't even know what to say. i mean, usually the squad sicks together. nobody's coming to the his defense here. he says, you know, republicans in particular were warped by this washington group think, but with i think he's -- stuart: i think he's the one. lauren: -- the telling you that everything is racist. stuart: yeah, really. lauren: everything is racist. stuart: let's move on. you're right, everything is racist in this country at this moment. it's crazy. thank you, lauren. now this, the los angeles school strike continues in its third i day now. 400,000 children missing school again. california congresswoman michelle steel back with us this morning. some parents are supporting this strike. i'm read from "the new york times", it says los angeles school workers are on strike, and parents say they get it. how do you deal with the when the parents don't seem to care about the kids reading or writing, they care about getting more money? >> so what kind of parents are
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supportive of this the? because during the covid we shut down whole california stool system -- school system for two years. our kids are behind, and we really have to prioritize our kids first and parents. that's the reason actually last week during the education committee that we tried to pass that parental rights. it took 16 hours to just pass one, and it's coming actually because this is what, you know, we try to give all the rights to parents. parents have to know what they're teaching, how to use their budget and what kind of -- coming in. and you know what? it's a simple right now that we, republicans, are very strong. we are bringing this to the floor so we're going to vote for it. and we have to prioritize students, kids and our parents. stuart: yes, absolutely. but why is governor newsom silent are on this? >> well, that's california governor. [laughter] you know what? he loves that dictatorship
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during can covid. he shut down all the businesses. 40% of small businesses are not coming back. you know what? i've been telling everybody do exactly opposite of what our governor does, then you are successful. if. stuart: i don't see how he could possibly be the president of the united states with a performance like that, but i digress. i'm going to the move on. separately, we've reported on stanford law school where a federal judge was shouted down by woke students. the diversity dean led the protests. the news here is that she has been put on leave. congresswoman, i call this a victory. what say you? >> you know what? that's right things to do because we have freedom of speech in the united states, and freedom of speech rights has to be in the united states means that it has to be in the campus for all the students and all the professors. so you know what? that's right thing to do because, you know what?
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only countries like china controlled by ccp and vietnam, those communist countries i think don't have freedom of speech. so in the united states, we really have to open it up for all these free speech rights to students. stuart: do you favor banning tiktok outright in. >> yes, i do because we already had proof that they've been gathering all the data. and you know, many in china -- in china we are talking about, you know, chinese communist party that that they know. they're collecting all the data from individuals like us. you know what we buy, what we write and what we use this computer system, so we have to ban it. you know what? i was called racist too when democrats have nothing to say, they always call out everybody as racist. stuart: absolutely. >> how can i be a racist? stuart: i've got 30 seconds left. can you tell me what it's like to be a republican in california? >>st the very tough.
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you have to do hard work to combat. but you know what? i really enjoy this majority, you know, republicans that we are doing the right thing one step at a time. you know, by bill bill with congressman adrian smith we're trying to stop crush 80 billion given to irs hiring 7,000 -- 87,000 agents. you know what? we stopped it. that was first bill under majority party, and i'm really enjoying it, and we all have to combat. stuart: congratulations, congresswoman michelle steel. please, come back on to this show, please. you're welcome anytime you like. >> thank you so much. stuart: thank you very much. back to to the markets, please. well, look at this, the rally progresses very nicely. dow's up 415. the nasdaq is up 264. and the s&p is up 62 points. in percentage terms you're looking pretty good this morning. nice bounceback from yesterday's selling. a new bill in the senate would crack down on spy devices in home appliances like
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refrigerators and dishwashers. how can a fridge spy on me? lauren: well, if it has a camera or microphone or if you hook it up to your phone, those are all ways. it's a smart quite -- stuart: do fridges have cameras and microphones these days? lauren: the industry predicts 85 million appliances will be equippedded with these devices in the next three years. i just redid my can kitchen, as you know, and i didn't have a choice, i had to buy smart devices for some of the appliances that i needed. anyway, senator ted cruz says you've got to watch out. >> americans should know if their fridge is recording their family's words and movements. and they should know whether their virtual assistant is transmitting awed audio -- audio recordings of private family conversations. lauren so he's introduced a bill to have the ptc force the manufacturers to inform buyers, hey, you might be recorded because this is a smart appliance. i'm in my kitchen most of my
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day. that's where the family congregates. you look around, it's my coffee maker, my washing machine, my dishwasher. your whole kitchen is spying on you. at least you deserve the right to know because you wouldn't think that would be the case. stuart: i have one of those, it's a pet thing? lauren: oh, the nest. stuart: i never hooked it up. bought it brand new, i've never hooked it up because i don't want to be watched -- lauren: we don't have the choice now. stuart: do you have an alexa? lauren: i co. she's currently broken. stuart: good. she listens to you. [laughter] move on, stu, before you get in trouble. the first 3-d-printed rocket blasts off -- the blasted off in california overnight, but it never reached orbit. one of president biden's judicial nominees can't seem to answer basic legal questions. oh, watch this. >> do you know what a brady motion is? >> senator, in my time on the bench, i've not had occasion to
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address that, and so it's not coming to mind. stuart: the man was completely stumped, and biden wants him to be a federal judge. deroy murdock's got a lot to say about that, and he's next. ♪ ♪ you ok, man? the internet is telling me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take control of your investing education. cut through the noise with best-in-class education resources that match your preferred style of learning.
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♪ stuart: time now for this day in history, american built. on this day, march 23rd or, 1857, elijah o us the, of course, you know where we're going, he installed the first commercial elevator at a department store in new york city. it was powered by a steam engine in the basement. the elevator traveled at the speed of 40 feet per minute. this day in 1857 is when it all began, and now you know. please, watch "american built" mondays, 9 p.m. eastern only on fox business prime. how about this? a 3k the-printed rocket blasts off, first time we've ever seen that. watch this. [background sounds]
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stuart: it blasted off from cape canaveral last night built by a start-up company. launched successfully, but a problem with the engine prevented it from reaching orr orbit -- orbit. the rocket crashed into the atlantic ocean. check those markets, the dow is still up close to 400 points, the fast cac up 251. that's much better than 2%, and the s&p is up is 1.5%. that's a bounceback rally. the cryptos,sing please, show them to me. i should tell you that coinbase could be in trouble with the sec. big story the here. what you got, susan? susan: and a long ways away from those steam the engine case, right? -- days, right? those are many violations that that coinbase is being accused of, and the sec is indicating they are just one step away from enforcement action against america's largest crypto exchange. so they're saying that coinbase if broke sec rules by selling
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certain cryptocurrencies offering high interest rates for lending base crypto and storing it in their coinbase ballots. the ceo -- wallets. the ceo says the sec has changed their view on the company since the ipo and also on the industry after the ftx collapse. the se e c also, by the way, charging one of the richest crypto entrepreneurs around justin son and his company, tron, they're accusing them of violations and paying celebrities to endorse his tokens without the celebs actually disclosing that they were being paid. now, sec chair gensler says it's not orchestrated a promotional campaign in which he and his celebrity promoters hid the fact they were paid for the treats. -- tweets. they've clawed back $400,000 from encoursers in-- endorsers including lohan and paul.
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look at the example of lindsay lohan selling many her tweets for tron, she tweeted that she likes sun, she likes tron's tokens and good job. that's fairly evident, don't you think? she didn't disclose that she was being paid. kim car cash january also was paid $1.25 million, she had to give that back to the sec last year to settle charges that she also misled users in crypto. but despite all this, the stock still is -- 100% this year, bitcoin still at $28,000, you're up 70% so far in 2023, even outperforming gold which is only up, only, i say, up 11%. and this is a preferred trade from the banking crisis. stuart: it's a great story. trouble in crypto, but bitcoin goes straight up. susan: as i mentioned, thises the 3-year anniversary of the covid stock market bottoms, since end then guess how much bitcoin has rallied? 400 percent since march 23rd, 2020. so you've gotten 70% gains in
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the broader sock market. stuart: how many times have i said that? i missed that one. susan: buyer beware. stuart sue thank you very much, indeed. one of president biden's judicial nominees gets really 12u6r7ed on a basic legal question during his confirmation hearing. watch this. >> tell me how you analyze a brady motion. >> how i analyze a brady motion? >> yes. >> senator, in my four and a half years on the bench, i'm nod the occasion to address a brady motion in my career. >> do you know what a brady motion is? >> senator, in my i'm on the bench i've not had occasion to address that, and so it's not coming to mind at the moment what a brady motion is. stuart. stuart: joining me now, deroy murdock on this subject. biden wants the gentleman to be a federal judge, it's the second time a nominee has been stumped on a legal question. my question is, is biden putting
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forward identity politicians as his mom. -- nominees? >> i think in some case he is. this would be the atomic clean-up scientist who was transgender and stealing luggage and wearing women's clothes. this could just be somebody who's a good lawyer but doesn't know this, but it's a basic thing i would expect a federal judge to know that the brady motion is the opportunity or the requirement, i should say, of the prosecution to turn over to the defense in a criminal case all the exculpatory evidence. that's a basic civil right. every federal judge should know that. stuart: is putting forward a guy whose identity is black, but is he competent to do the job? this is a federal judgeship we're abe. >> yeah. well, again, he might be a good lawyer otherwise but not prepared for this position. st the not some arcane matter of law, especially now that we have january 6th convicts in jail who for the first time are seeing exculpatory evidence on tucker
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carlson's show. those should have been turned over to their attorneys before trial, and they were not. and the brady motion would have released this. any federal judge ought to know that. stuart: that's interesting, i didn't know that. white house press secretary karine jean-pierre called the freedom caucus budget plan a, quote, five-alarm fire for families. okay. listen to the response from congressman and republican byron donalds. roll it. >> yes. she obviously doesn't know economics, because she works for a guy that ignited inflation in our economy. we did not have 8% or 6% inflation in this country for 40 years. it took the joe biden two months, and here it is. inflation is created by with too much government money going into the economy. it puts too many dollars chasing a too few goods. the formula is the same. if she took an economics course, maybe she would realize that. stuart: i think the white house is wrong and byron donalds is right. and i'm sure you agree with me.
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>> and i think stuart varney's right about that. [laughter] yeah. i was amazed when biden came out with the $6.9 trillion, almost $7 trillion the, and that signals to the markets and everyone else, he has no interest in reducing inflation. he's going to spend money, raise taxes, regulate, he's going to keep his boot on the energy industry, and any effort to reduce inflation will be left to the fed and increase of interest rates is the only way we're going to get inflation down, by crushing the jobs and destroying people, croixing american dreams across the country, and that's horrible. you would think if i were joe biden i'd say, all right, let's freeze the budget wheres it is, keep it flat for one year. no, up, up and and away. stuart: the democrats are -- >> joe biden says we spend a lot of money coming in, we have inflation, we're not going to cut anything, we're going to freeze. if he were a leader, he would do that, but he's not and we're here. stuart: you're right. deroy murdock, see you again soon is. show me walmart, please. it's the up a fraction, about
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1%. reuters reports that they are laying off hundreds of workers in a restructuring effort. they're eliminating some evening and weekend shifts at e-commerce fulfillment facilities. workers will continue on the paid for 90 days. lots of job cuts being announced this morning. still ahead, new video shows a human smuggler leading troopers on a high-speed if chase before the ditching his car in a park in texas. five illegals this in custody. the driver still on the run. griff jenkins has the latest from the border as we do every day, right after this. ♪ i can feel it coming in the air tonight. ♪, oh lord ♪
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busts during the the first week of their new operation blue lotus campaign. can you tell me exactly what hay the found many in. lauren: massive. one week, 900 pounds of fentanyl. stuart: pounds? lauren: 700 pounds of meth, 100 pounds of cocaine. almost double double the average. it uses dogs and advanced technology. they arrested 18 people after 18 seizures. again, in one week. that's how much is coming through. people are smoking fentanyl everywhere in the u.s. like on buses and is trains. they have to get special crews in to to the clean it because sometimes the fentanyl, the residue, is on the floor. you've got kids around. this is a major issue. stuart: 900 pounds of the stuff in the one week? lauren: uh-huh. stuart: that's an enormous quantity. lauren: it's easy to make, and a small amount is very potent. stuart: lauren, migrant flights are now headed to texas. okay. sort this one. where are they coming from? lauren: the northern border. stuart: what?
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lauren: migrants cross the southern border, make it all the way up towards the northern border, and that's when they're being apprehended. so customs and border patrol just sent about a hundred of them on two different flights back to els pal sew and another concern el paso and another city many if texas. so they're keep -- sending them back down to texas to the original border that they crossed illegally. stuart: and el paso's been devastated to start with. lauren: now canada's mad because true coe has said there's been 2900 in the last 5 months illegals trying to cross into canada. we don't want to deal with this either, so this is what he's supposedly talking to president biden about when they meet today and tomorrow. stuart: all right. that's really something. look at this, new video that shows a human smuggler leading troopers on a really high-speed if chase along an interstate in texas. come on in, griff jenkins, in mission, texas. the driver is still on the run, i take it? >> reporter: yeah, that's right. and, stuart, let me tell you
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something,st thursday, and that means the border was busy this morning because smugglers want to get paid for the weekend. i've been out since 3:30 a.m. this morning. let he show you some video right now with texas dps troopers. we were chasing a group that was apprehended of eight mexican nationals. they were hiding in the brush, running from troopers. some jumped in the water. we were able to pull them out, and there was a remarkable discovery in this group of migrants that we apprehended. this is sergeant lupe about what we found. take a listen here. >> we had a group cross -- [audio difficulty] one of the subjects was part of that initial group two days ago. they just keep on coming. >> reporter: and the smuggling cases on the rise, take a look at this texas k the ps dashboard camera video of an arrest. now in this one there was a 16-year-old driver arrested, 5
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migrants were taken into custody. they were being smuggled. and among the smugglers, a child as well. it just speaks to the absolute ruthlessness of these smugglers. finally, i just want to show you one more video, and that is over in the del rio sector in eagle pass, stuart. this is our team up early over there showing migrants crossing the river in a large group of 40 or more migrants. among them were seven chinese nationals. the i chinese continue to come. put all that together, you have a composite picture on any given day. in this case, it's thursday, and it is anything but under operational control. stuart, we'll send it back to you. stuart: griff jenkins right in the middle of it, thanks very much. by the way, you only see this stuff on fox. you watch any other network, i don't care who they are, you don't see this stuff. you don't see the chaos that biden's open border has created. well done, griff jenkins.
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thank you, sir. all right, back to the markets. s it is a rally. i'd like to see the dow 30. oh, look at it, 27 of the dow socks are up, 3 -- stocks are up, 3 are down. it is a rally, and the dow's at 32,400. next, a recovered drug addict turned activist sounding the alarm about san francisco. he says the city is the epicenter of the drug crisis, and he blames cartels. the activist is next. ♪ ♪ help me, rhonda, help, help me, ronica ♪ the new chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours!
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the first two months of this year. 131. joining me now is tom wolf. now, he is a recovering drug the the addict who used to be homeless in san francisco. tom, great to see you. i know you blame the cartels for this drug crisis. can you tell me who are the actual drug dealers in san francisco? are they illegals? >> so, yes. the majority of the people on the street selling drugs right now are undocumented immigrants. hay mostly are from honduras. there's some kind of pipeline that the cartels have with honduras where they bring young men and women up here to the self-discussion on our streetsing -- sell drugs on our streets. stuart: i've not been to san francisco recently. i lived there many years ago, and it was a beautiful place to live. is fentanyl just everywhere in san francisco? if or just a very small part of the town? >> it's all throughout a couple of different neighborhoods, the tenderloin neighborhood south of market neighborhood and now the mission district.
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so, yes,es the everywhere. and you can go to a lot of different street corners in those communities, and you can purchase fentanyl on the street right now for as little as $5. and it's brazen, it's out in the open, and it's happening in broad daylight right now. stuart: given your druthers, tom, if you could coanything, what would you do to stop this? >> well, there needs -- i believe that that we need federal intervention at this point in san francisco because our police department is down the over 500 officers right now. the board of supervisors here just approved a $27 million supplemental to pay overtime for the existing officers to try to go out there and, you know, arrest and get these drug keelers off the street, and they have been in the last five or six weeks, they've arrested over 100 drug dealers on the streets. but our laws have changed in california with proposition 47 which decriminalized or reduced penalties for a rot of these things. a lot of them end up going through the system and come coming right back out to the street to sell drugs, and it's
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really changed the game out here. stuart: what would you say going to the source, using the american military to go after the cartels in mexico maybe or using our financial system to go after the cartels and their money? bankrupt them? what would you say to that? >> i'd say, you know, whichever works. the financial way is probably the best way because, you know, just as we want other countries to respect our sovereign i the, i'm sure mexico wants us to respect theirs. so i think the financial way is to -- the way to go to let them know, that hey, the united states is no longer a friendly place for you to deliver tons and tons and tons of fentanyl that are killing 100,000 americans every single year. stuart: do you still live in san francisco? the. >> yeah, i live in the bay area, and i'm, i've reconciled with my wife and kids, and i'm back home with them and, you know, i'll have five years of sobriety in a few months. stuart: tell me how you got off drugs. i mean, how kid to you do it? >> well, i was held accountable, which is something that doesn't
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happen very much anymore. i eventually got arrested several times, and i ended up spending a few months in jail where i soberedded up, and then i i went to a residential drug treatment program for six months, and i found recovery. stuart: that worked. >> it did work. stuart: that's wonderful. we're or very glad to hear it. sorry about the ongoing problem in san francisco. what a beautiful city. tom wolf, everyone. thanks for joining us. hope you can come back soon. >> thank you, stuart. stuart: here we go. 11:5 a 5 almost. the trivia question this thursday, good one. the roman fumal d represents which number, 50, 100 -- 500, 1,000? what is it? the answer after this. . .
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♪. stuart: i think we can have some fun with this one. we asked. yes we can. the roman numeral d represents which number, 50, 100, 500, 1000. i should tell everybody hauer ren and i were talking during the commercial break. 50 has to be l. 100 is c 10 turian. 1000 has to be m millenial. our answer collectively arrived at 500. d stands for 500. >> what does it stand for in latin? don't ask complicated questions. d stands for 500. >> 500. stuart: we got that.
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quick check of the markets, folks. we have a rally boeing. isn't that wonderful? the dow up 400. nasdaq up a whopping 250. don't forget to send in the "friday feedback." >> tomorrow. today feels like a friday. stuart: varney we take it all. >> even the bad stuff. stuart: don't ask personal questions. we take criticism. not so much hate. >> i love getting personal questions about you. i can't answer that. i have the answer. but i'm going to lie. >> i'm's up for "varney & company." time's up. you got that? "coast to coast" starts no


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