>> there's always hope. >> gillian: thanks. that does it for us "the story" on july 18. "the story" goes on. i'm gillian turner in washington. see you tomorrow at 3:00. "your world" starts right now. >> if congress won't cut the check? is president biden checking out? a plan for more spending on his own. i'm charles payne in for neil cavuto. this is "your world." three out of four americans are feeling the inflation measure. edward lawrence has more. >> the president has no public

events on his schedule. the president is trying to change the debate to climate change. jared bernstein alluded to the fact that there could be climate change executive orders coming. listen to this. >> the president will aggressively fight to attack climate change because he knows it's one of the reasons that he's here and it is absolutely core to transitioning from where we are to where we need to be. >> saying it could not come up with a plan, which is why the reason might take the step. when arriving back at the white house from his trip to the middle east, the president alluded to the fact that we might have to wait a few more weeks to see if inflation comes back down. he does not plan to change his policy at all. a new fox news poll shows 38% of voter as prove of the president's energy performance. 25% of people say that they approve of the president's performance on inflation.

3/4 disapprove the president's top energy adviser told me in israel the current policies are working. >> i think that the challenge always is when prices go up, people want to see action and they want to see the price come down as a result and want it done right away. the challenge on the energy markets, very few things happen right away. the decisive actions that we have taken are now showing everyone that they were the right moves at the right time. it took time to get there. >> we need to learn a lesson from europe. listen. >> reliant upon russia. i'm all for clean energy but not to the exclusion of our traditional energy sources. >> another republican saying images like this one make the u.s. look weak. buddying up to prince bin salman and the president saying according to republicans should not have gone to the middle east. he should have gone to middle

texas to get oil that we need. back to you. >> thanks, edward. i want to get to economist steve moore and kristen hahn on all of this. steve, let's talk about inflation. taking a toll on consumers. the white house feels ready to get more spending through on this green agenda no matter what the cost. >> that's right, charles. my sources on capitol hill are telling me that the green executive orders that joe biden are talking about are new epa regulations on our utilities, taking more prime oil and gas lands on federal lands off of limits and export control so that we can't export our own gas. charles, that would destroy our american oil and gas industry. why is this president saying on one hand he's doing everything he can to reduce gas prices and the other hand he's taking the steps one after another starting of course with the killing of the pipeline that are going to

make gasoline more expensive. if these executive orders happen, we're looking at $6 and $7 gasoline. >> does the white look at this differently? brian deese said a liberal world order that they want to get to a utopian world and the pain the americans have to endure right now would be worth it? >> you know, i don't think so. if you talk to -- there's been interviews that white house officials have done where they talk about energy diversification and building up our clean energy industry, which can create jobs. so i think what the president might do through executive order, certainly people in the white house understand that people are feeling the pain, gas prices have come down a little bit. it's not enough yet. but there's a number of things that we can do to make sure that we're not soly dependent on one source of energy.

>> the things that bothers me, steve, people say we want to get to a place that we can get in the car and runs on the sunshine, fantastic. if we can heat our homes, great. that world isn't here right now. you know, we're seeing it around the world, countries that have been very aggressive with the green agenda have cost their citizens more than we're paying. germany, i don't know how they'll heat their homes this winter. nobody will be able to afford it. i don't understand why we're going down a path that we can see, a path of ruin. i don't get that part. >> you're right about germany. germany did -- a lot of americans don't understand, germany tried the green any deal experiment 10 or 15 years ago and damn near bankrupted the country. that's a country that has german engineering and manufacturing. they had to abandon it because

the wind power and solar power are reliable and expensive. now we're making the same mistakes they did. look at these states. charles, look at california and the rolling brownouts and blackouts that they've had there because they closed down their nuclear plants, outlawing natural gaseous and now facing a real energy shortage. let's learn from those mistakes and have everything. let's use our oil, our gas, our coal, hydro power when appropriate, wind and solar and make ourselves energy independent again. that's where we were under trump. >> we'll be importing that stuff from other countries, mostly china. so pete buttigieg is taking heat. comments that he made on gas prices and electric vehicles. take a listen. >> we're for cutting the cost of electric vehicles. when you have an electric vehicle, you can save on gas but you have to afford it in the first place. we're starting to see on some models the costs come to where

even if the -- your car payment is higher, your gas payment will be lower and you come out ahead. >> kristin? >> so -- i don't know what the issue is here. >> that he's not telling the truth. >> we're able to afford that. but you can cut down on the amount of gas that people have to use, that is significant. also i think people don't acknowledge also what all of these energy companies across sectors are doing to reach certain climate goals themselves, a lot of democrats don't want to give companies like exxon mobil credit for stuff like that, but they're looking at the long-term, too and trying to figure out ways to diversify. >> you're going to be disinvited from the holiday parties talking like that. you're right. mobil and a lot o

companies have put work into this. we saw the stock market today. we're in for hurt. feels like an unnecessary era here. to sell it, you have to flip, you have to be dishonest, be evasive. if it was a straight sales issue, most americans would buy it. we know we're not there yet. let's talk about the economic damage, the collateral damage that we're seeing. $10 trillion lost in the stock market. apple will stop hiring. we're in a world of hurt now. more executive orders will make it worse, won't it? >> yeah, sure will. kristin is right. the united states more than any other country over the last five or six years thanks to our energy initiatives have actually reduced their greenhouse gas emissions and the number 1 reason for that is that we have transitioned to using clean burning natural gas. i don't understand by so many states are trying to outlaw natural gas when it's one of the cleanest fuels that we have.

this is a precarious economy right now. we have produce more energy wherever it can come from and we need to cut government spending. the good news, charles, that thank god for joe manchin stopping this mini version of the build back better bill. the last thing we want to do is spend another trillion in washington that we don't have. >> thanks. there's a fox holiday christmas people just in case. we have you covered. all right, folks. two major banks painting different pictures on the economy and inflation today. on one hand, bank of america saying the consumer is in great shape. goldman sacks in the other direction. heather, brian has been so up beat. he's the ceo of bank of america. i featured him on my show, his earnings report. he's talking about an american consumer that i don't know.

i don't know the american consumer sitting on $3 trillion in excess savings, the american consumer that is so robust. what are you seeing? >> brian monahan is saying that the consumer is very resilient. so despite a slowing economy, credit card spending was up 17%. so bank of america's revenue was up, goldman sachs making a lot of money. while goldman says inflation is persistent, as long as the consumer is strong, that could keep the u.s. out of recession. >> isn't that the rub though? we have the national association of home builders, unmitigated disaster. that was the first leg down in the market. it started robust. when you start to see hey, i've ran out of savings and now i'm using my credit card, there's limits to that. that is debt that has to be paid back ironically at higher rates.

>> well, that's the main problem with our federal debt and deficits as well. when interest rates head higher, it's difficult to service your debt and pay off the interest costs on that. so if you're an american out there with a big credit card balance, my best advice would be to pay that down, if you can, because the average credit card interest rate is 16 to 17%. it may even go higher than that. it's going to be very difficult to pay down. >> neil: we just found out that june, real wages were down 3.6% for the week people were down 4.4%. real wages have been down every month since march. when they signed in that last year, when they signed in the 1.9 trillion beginning that april, every single month real wages have been slammed. so in the real world, people are getting bigger paychecks. they go in the store and come

out with fewer bags. that's in the polls. >> that's the democratic argument. wages have gone up 5.1%. that's the point you're alluding to. you paycheck may look better than last year but when you go to the store to buy goods and services, you're at a net negative because of the cost. your food has gone up by 12 and your pay has gone up by 5. you don't have to have a ph.d. in economics to understand that you're actually at a loss in terms of a purchasing decline, purchasing hower has declined significantly because of rampant inflation. that this administration is causing with reckless spending. >> economics a greek word against the household budgets. i wish someone in washington would listen. thanks, heather. >> thanks, charles. >> did you see this, folks? >> it's a whole ostrich.

i cannot make up this. there's an entire ostrich. this is on the north side, by the way. >> that wild emu is racing to get to fox business ahead of a major event next week. tuesday, july 26, 2:00 p.m., i'll be hosting a town hall, inflation in america. the hangover edition. we'll take your questions live. so send your questions to fox.com. you cannot afford to miss it. we know inflation has the president's poll numbers plunging. so why are democrats seeing their cash haul surging? is that a sign that the mid terms will be closer than we think? president biden lashing out when asked about the fist bump in saudi arabia. and look who is heading to the middle east now. now that president biden is back, now that vladimir putin will be tomorrow has general

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>> president joe biden taking bumps over the fist bump with the saudi crown brings. he says he has no regrets. what is the white house saying

today? mike emanuel has the very latest. mike? >> charles, good afternoon, a short time ago, a key white house spokesman defended the president's greetings during the middle east trip. >> the president decides for himself when he's greeting foreign leaders in what way he's going to do that. i think the president believes and he's right that people are making way too much out of the actual greeting itself. what matters is what happened behind those doors. what matters is the points he raised about our concerns over jamal khaishoggi. >> president biden sounded pretty irritated when he was asked over the weekend about the fist bump seen around the world. >> do you regret the fist bump? >> why don't you guys talk about something that matters? >> the president has taken heat from the left about going to saudi arabia. >> no, i don't think so. you have the leader of the country who is involved in the murder of a "washington post"

journalist. i don't think that that type of government should be rewarded with a visit by the president of the united states. >> and conservatives say the president looked weak on the world stage. >> it was embarrassing to watch the president go over there hat in hand and ask for something that we can produce right here in america. >> many conservatives say the president would have been better off asking the american energy sector for help instead of the saudis. charles? >> thanks, mike. russian president vladimir putin is heading to the middle east. this on the heels of president biden's trip. why is this worrisome? retired four star general jack keane joins me now to discuss. general keane, the optics were just disappointing for lack of a better word with the president's trip to saudi arabia.

what is the american purpose for vladimir putin going to iran? >> well, this has to do with the relationship that russia has established with iran and also the relationship that both countries have with china. the reality that we're facing in the world today is that we have these three revisionist powers, china, russia and iran all who have -- believe in their minds that their number 1 strategic adversary is the united states. so they have that in common. they also want to change the international rules based order that has been existence since the end of world war ii, something that the united states has had a lot to do establishing. they believe it squeezes them out from influence. so this visit, which i think putin obviously had scheduled after president biden announced he was going to the middle east. one of the reasons why biden was going to the middle east, he

knows full well that the arabs and israelis believe that the biden administration since the inauguration and they reached out to iran was moving away from the middle east much as the way obama did for eight years. that as a result of that, russia and china were filling that vacuum. so given the fact that biden went there as one of the reasons to shore up this relationship and push back against russia and china. we find putin going to iran. now listen, they have a relationship that has been established for some time dealing with syria. iran propped up the as sad regime by providing the hezbollah and tens of thousands of proxies and their own generals leading the ground war. russian came in a few years ago that because as sad's air power was defunct.

russia provided decisive air power to prop up the regime. now they have in common iran is going to support russia by giving them a couple of hundred drone technology, which they're very good at, and enable them to accomplish what they're trying to achieve in ukraine. won't be decisive, but it's going to help them. >> to that point, why is the west -- why is particularly the biden administration still so insistent on, you know, the negotiations with iran. it was made more awkward with the news of the drone deal. >> yeah, and also the fact that russia's facilitating the negotiations is really quite extraordinary between the united states and the iranians. it's absolutely bizarre. listen, the biden administration i think fell in to a huge

strategic trap. they thought it would be in the best interest of the united states to back away from maximum sanctions on iran, to back away initially from the abraham accords, which they're now supporting. 18 months ago they were not to push back on the arabs in the region and reach out to the iranians and put the deal on the table pretty much the same as was in 2015, which blew up in all of our faces because they took the money and contributed to the aggressive malign behavior in the region. makes no sense that they would do the very same thing if they were flushed with cash again. so this is a huge error that they made and it's frustrated the israelis and the arabs to in end. >> i have a minute to go. over the weekend, i read that the supreme leader said that they have the ability to make a nuke now. in the financial world, the resurrection of the acronym bric

and other nations saying that they want to join that. is there an alternative choreographed groupings of nations that will go along? we see india buying a lot of russian oil. they're pushing back on america's strength, america's preeminence and that could pose a threat. >> absolutely. the reality is that china in particular has huge global influence as we speak. russia lesser so. so iran considerably less. china does. the united states has got to be quite aggressive here and working with our own allies. one of the things the biden administration has done in taking off and strengthening what trump started, that is working with our allies and partners, not only in the region but other places in the world. we have to do more of that. we cannot take for granted old

relationships when we're dealing with this behemoth that china is seeking to dominate the world economically, dominate technologically, militarily and geo politically. they're about that every single day. we've got to get organized and work with our allies and partners to push back. >> general keane, a pleasure. thank you. before the voting, what house speaker nancy pelosi's husband has been acquiring that has some saying it looks much like insider trading. to hillary vaughn on the hill. >> hi, charles. speaker pelosi's husband stock buys are back in the spotlight after paul pelosi made a million dollar investment in a chip-making company as the senate is set to pass billions of dollars for the industry. we'll have the details and the controversy coming up.

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>> charles: migrants arriving in

texas are overcrowding d.c. homeless shelters. now texas governor greg abbott says welcome to the border crisis. more coming up.

>> charles: this story is raising a lot of eyebrows. house speaker nancy pelosi's husband buying up stock in a big computer chip maker, this as the industry is set to get billions in subsidies from lawmakers. hillary vaughn has more from capitol hill. >> hi, charles. senate majority leader chuck schumer announced today they will take a vote on this legislation that would give $52 billion in subsidies to these semi conductor chip industries, which would be a big win for u.s. chip makers but also potentially be a big win for nancy pelosi's husband, paul, who just made a million dollar investment in to a chip making company. if this bill passes and the

president signs it, it could make mr. pelosi a lot of money. paul pelosi disclose add million dollar stock purchase of a major chip maker in june. they make chip systems for cars robots and other technology. the timing of the stock purchase is getting backlash. now house lawmakers are renewing calls to ban members of congress and spare spouses from trading stocks while in office due to conflicts of interest. speaker pelosi's spokesperson said the speaker does not own my stocks as you can see from the disclosures with which the speaker fully cooperates. the speaker has no prior knowledge or subsequent involvement in any transactions. some lawmakers say whether speaker pelosi knew about the purchase is not the point. she still stands to profit. >> nancy pelosi is the ultimate insider. not only is her husband buying stock options on a much higher

level than the average member of congress, the average member of congress may by $5,000 or $6,000 of stock. he's buying stock options that expire. so to be able to trade stock options profitably, you have to know which direction that stock is going to move and you can make a huge profit, this is wrong. >> not just watch dogs in washington that have caught on to paul pelosi's well-timed stock buys, his stock trades are ticket famous. people are tracking him. it's not a bad bet. paul pelosi's portfolio has outperformed the s&p 500. so they're paying off. >> charles: uncanny to the battle for the mid terps and a race against red and blue. we'll be following the green.

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our smart sleepers get 28 minutes more restful sleep per night. save 40% on the sleep number 360 special edition smart bed queen now only $1,499. >> charles: despite the satisfaction with the white house, raphael warnock taking $17.2 million in the second quarter. that is a big lead over herschel walker. and time ryan's 9.1 million haul is well ahead of republican opponent j.d. vance. so why is this happening despite president biden's poll numbers that are plunging? joining me to discuss, democratic strategist crystal knight. anez, how do you explain it? >> well, i'm not sure that there's a strong correlation

between fund rating numbers and victories. democrats did outraise republicans i believe in senate races in 2016. so increasingly when there's such a huge disconnect between essentially one section of the elite and in public and private across different sectors and the rest of the country, i wouldn't expect the fund-raising numbers to necessarily indicate something about where the electorate is. the best example is jeb bush who spent $130 million running for president and couldn't crack 3%. >> charles: another issue, crystal, i did some work on the abrams numbers versus kemp. he's significantly outraised her amongst georgia residents. in california, new york and illinois, they have a war chest for her. doesn't make a difference because they can't vote for her. >> voters in the state matter

the most. where you get the money from helps you pour into your campaign and when. people are paying attention to issues right now. although the president's approval ratings are down, doesn't mean that voters are tapped to what is happening in their respective states and what is happening on the national scale. that's one of the reasons where these large numbers of money is coming in. >> charles: there's no doubt. and as you can almost say hey, maybe it's a brilliant move on democrats' part. they don't have to worry about losing much in california. so take that money across country. also is sort of in the shadow of the j-6 committees and these worries about the crumbling of the republicans, can democracy stand. people in different states can manipulate other states voters. i know it's legal but in this environment, i'm shocked they're

doing it to this extent. >> again, i think money only matters to the extent that the voters like the message putting in front of them. and so i think to some extent these two things are coming apart. we should continue to expect them to come apart on cultural issues and nearly every issue with the majority or center of the electorate. we should see big discrepancies with who is popular among people that can donate to campaigns, whether it's instate or out of state. >> crystal, these issues that you referenced, you think anything can supersede the inflation question? i'm talking not just fox news polls but everything. the national federation of independent business, the michigan sentiment number, the

gallup poll. polls and surveys that have been around for years. they all point to a american consumer. many have never been through this before. a lot of households have never seen this before. >> yeah, the economy is really important when people go to the polls. i think not just in the mid-term elections but every single election. when you see issues like voting rights, when you see issues like the overturning of roe v. wade, miranda rights, gun control, those are things that voters are thinking about on top of the economy. it's not just the inflation being high, although gas prices have fallen the last couple weeks, people are looking at the landscape. the issue landscape on the hole, the continues yum. really trying to determine who has the best interest of the economy, of the american public in mind. if that's the democrats, which i believe it is, that is why we're likely to see folks continuing to fund these democratic

elections and also hopefully, you know, democratic voters will turn out in high numbers in november. >> charles: i remember when too much money was a big rally cry from the democrats. thanks, ladies. i appreciate it. ahead of the crucial hearing tomorrow what are twitter and elon musk urging a judge to do today? susan li is here on that. and meet the border sheriff once the border crossings reach the point of no return. ain relief. and now get relief without a pill with tylenol dissolve packs. relief without the water.

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>> charles: elon musk lawyers are asking a delaware court to block twitter's request for a fast trial. this promises to be a donnybrook. this could be one. >> we're all headed to delaware chancery court. when is the question? the judge in this nonjury case, and we know that twitter wants and expedited trial. they want it to start in mid september. they say the deal expires october 24th. elon musk and team musk and their filing on friday night, they said in any litigation, this contract extendses to when

it's over. so they have debt financing until april of next year. team musk wants a longer trial. they want more time and a $44 billion takeover. so they say the trial should start in mid february instead. look, if you look at the stock price, it was up 2% today. still trading at $38. if you think the judge will make musk in this specific performance, go ahead and buy twitter, the stock would be trading closer to 54.20. that's not where it is right now. >> charles: she did this once. >> it was a $550 million dollars. it's not a $44 billion takeover. >> charles: apparently this delaware court prides itself on its expertise, corporations that do business in delaware. so they pride themselves on being able to handle this stuff. the nuances are so amazing. it would be hard for me to imagine not to do this the right

way. >> if you prolong the case, that benefits team musk. it's a longer discovery process. then you can really go through the files and when and how exactly did twitter come up with the bots number. nobody on the street believes it's under 5%. that's not my experience, not your experience. but i think twitter stock right now is trading that even if musk is ruled against, it's damages. you can't force a guy to buy a company that he doesn't want. people that i've talked to that have seen the term sheets, this is going according to plan. they say musk still wants the property. >> charles: sure. he doesn't want to pay $44 billion. we have news coming in from the white house saying that they anticipate major oil producers to increase their production following the president's trip. so again, it sounds somewhat

nuanced. the oil producers and the opec plus alliance. so may not necessarily have to be saudi arabia per se. we know they're tight anyway with respect to how much they can turn the spigots on. would this be more than just a potential public relations victory? you think enough oil will be -- can come out of opec to make up the differences around the world particularly as china comes back online? >> we heard this before, opec plus that doesn't have a great history of adhering on increasing production. you have oil prices sub 100. how much will come on the market? you'll see what oil prices are trading at. >> charles: we'll see. susan li, thanks so much. i have to tell you, i can't wait. >> can't wait. >> charles: i still bet the deal happens. to the battle over bussing migrants as d.c. deals with the strain of the border surge.

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crossing the rio grande into the united states we can show you a live look we have been monitoring our small group, just cross the river. now being detained by the u.s. border patrol and here and texas governor greg abbott continues to send my grades up from the border to the nation's capital, a message to the biden administration that the border crisis is its problem and also governor abbott says to relieve some of the border towns that are seen with migrants, now shelters in d.c. are overwhelmed with the migrants, and bowser is calling in the federal government to help with migrants in her city in texas governor abbott should not be busting illegal immigrants to the nation's capital. rather only where the migrants wish to go. >> that they are being tricked in by the bus trips with their final destinations are places all over the united states of america. >> governor added bits office in

part with the nation's capital now experiencing a fraction of the disaster created by president biden reckless open border policy is that our state faces everything the day, maybe he will finally do his job and secure the border. and with the busy week here at the border we saw hundreds of migrants cross into the u.s. and also dated two over nine to write a lungs with troopers. last night our found multiple bus and looked at illegal immigrants hiding in cars, and told that the american citizens will be charged with human smuggling. and we saw firsthand ranchers and property owners here in texas dealing with a lot of fear and stress. they tell us migrants cut their fences, rob their homes and run through their property at night. we spoke to one woman last night who had 14 migrants arrested on a property. here's what she said about a single migrants who was to pertain front of her. >> he looks like a nice young man.

what am i supposed to suspect? if i judge him? no, but he is here illegally. even if he is under false invitation. >> in the federal government just released its numbers from june, 1,736,000 migrants encounters at the southern border so far this fiscal year, that eclipses all of last fiscal year and there are still three months left in this fiscal year. back to you, charles. >> charles: in eagle pass, texas, think very much, my next guest is on the front lines of this in mark dan olds, joining me now. and what do border communities need from this federal government as they faced the onslaught. >> well, thanks for having, charles, this goes back to what we have been talking about since president biden took office we need to support the security. an immigration reform, now we have absence in washington, d.c., by this president and i say that we have

two challenges on the border. the criminal cartels and this administration. they refuse with no will to secure the border spit in fact it is an illusion. how many people get through the southwest border into the united states? it is frustrating as a community with a negative impact, charles. >> charles: i know you sent along some images i'm not sure that we have some yet, and would like to share with the audience, because i think being away from this and talking about it in new york city, i don't know that we fully appreciate what it must feel like to have your backyard open to another country where people are coming from dozens of other countries and no matter what the intent is, you can't feel safe at all. >> and that's the problem, charles, you look at the numbers and the operation that we do on

the share office and a collective effort, but to just under the last three months, $900,000 of local impact to my y county for border related criminal goals, these are not the migrants, these are people that made serious crimes coming here to smuggle 67% pursued, just a crime that we are seen as a result of arizona southern arizona, we are leading the nation in fenton all seizures last year was just over 12100 fence and all seizures, the closest to -- and we can go back where we saw 80 some seizures of the 280 some seizures, now we are up to 2100. we have five main plus doses of fentanyl in arizona, the closest was california with 1 million seizures this last fiscal year. what we are dressing on the southern border is public safety.

>> charles: governor abbott's response i thought was very nice, used a fraction, not a fraction, not even at proverbial job and bucket, but it's interesting when you have people in this country saying that we should have open borders and coyotes traffic and people day and night nonstop into this country which is going through its own economic crisis, but if you have a chance to speak with the mayor, what would you tell him. >> what is the solution? ignoring it and saying don't bring it here, but to other parts of the country? that is not an answer or a solution, that is like receiving it from the administration, we have to get local community stakeholders to recognize and identify and i would ask in the mayor to spend some time with us and you see the reality of what is going on in the border. >> charles: in the meantime the record is shattered, talking about 2 million and is it just a hopeless situation at this point? it sounds like he will be pushed to the brink financially and

otherwise. >> well, it is hopeless and the fact that we don't have the president or this administration or congress engaging and we talk about the humanitarian side, it is a situation. >> charles: we appreciate your time and there are people paying attention. by the way, tomorrow neil will be back. you can catch me on fox, "the five" starts now. ♪ ♪ >> hello, everybody, i am jesse watters with judge dineen puro, jessica tarlov, dana perino and greg gutfeld. 5:00 in new york city, and this is "the five." president biden returning from his trip overseas, empty-handed and in a world of trouble. he secured no major oil deal after fist pumping with the saudis and is facing brutal new poll numbers and the first lady is making pathetic