Welcome to kudlow, im l arry kudlow. Biden classify the documents special counsel robert hur testifying on capitol hill, made it clear joe biden wilfully retained classified materials after end of his Vice President and is therefore guilty, we talk about that with steve forbes, and Jason Chaffetz and sean duffy if we can stand it. And taylor riggs and john carney on biden flag heating up and gordon chang telling us why tiktok must be divested from bite dance. And Newt Gingrich on Donald Trumps republicans becoming party of working class. And joe bidens Big Government socialist budget, and senator Tommy Tuberville talking about far left woke stuff. In joe bidens fantasy budget. But first to jackie hinrich live from white house on robert hur business. Reporter white house wanted special counsel hurs testimony to reaffirm his reports conclusion that conversely with President Trump, President Bidens handling of classify the documents did not warrant a changing decision, they released interview to prove that the descriptions of bidens memory of over wrought, they found himselfs arguing on capitol hill. Did you reach conclusion that this man was out right innocent . That conclusion is not reflected in my report, sir. You exonerated him. I did not. A willful reporter the White House Counsel Office tweeted. In america you are innocent until proven guilty, the case is closed, in other words the president was cleared, the live socalled fact checks, have been continuing, white house prev of previewed the transcript to counters hur description of bidens memory, they highlights favorable reporting all day, tweeting this biden does not come across as absence minded. And this special counsel defended his description of of bidens memories as relevant to question of willful intent, saying it spoke to president s state of mind, however white house has been going after hur, himself, pointing to some claims in the testimony today, were expecting to hear from the White House Counsels Office in on camera gaggle shortly. Larry all right jackie hinrich thank you, appreciate it. Before we carve up the biden hur hearing, i want to go on a separate topic, talk about tiktok. Either tiktok getting sold by bytedance. The Chinese Communist party linked owner of the app or tiktok will be banned. For use in america. Breaking up is hard on do, one way or another it will happen. Tiktok owner bytedance, the Chinese Communist party. Engages in spying, survey lint of personal information, Cyber Espionage and political interference. As excellent wall street journal editorial put it, xi jinping has eviscerated any distinction between the government and private companies and chinese law requires bytedance to comply with beijing a surveillance demands. All right. Tiktoks alga controlled by bytedance. They have control overall american data servers unless the card with china is severed, President Trump has decided to let Congress Make up its own mind on this issues, he always feared National Implications of security on tiktok. Trump is not weighing in gains a tiktok sale to other companies, he will let Congress Figure it out, how it will play out, remains to be seen. China does not want bytedance to celtic stock. Tiktok, ban coul tiktok will be tricky account, some states have already banned app from government phones, and some point t point will ruse against it, china is our greater adversary and enemy, they are untrustworthy, they use construction cranes to plant tiny camera to stay o spy on our military bases. Tiktok runs pro hamas videos, osama bin ladens speeches, tries hard to bend youthful find thes in the minds in the wrong direct, seems that Bytedance Tiktok story is there was example of Chinese Communist infiltrations as part of its on going war to dominate the United States bipartisan lawmakers are right, to vote in house is tomorrow. Either break up with the Chinese Communist party or break up with america. That is my riff. We will go back to the matter as at hand, testimony of special counsel robert hur, joining me now. The brain power jason chafeet, former utah kon congressman. And fox news contributor, sean duffy. Cohost of the bottom line. And former prosecutor, and steve forbes. Editor in chief, author the inflation. Thank you. Sean duffy you were a prosecutor, can you bust a sitting president . It is hard to do, politics with that, he has immunity. Larry legally. You have to wait. There is a flimflam argument by robert hur to say, joe biden is forgetful, therefore i cant win a conviction, prosecutors say one president was charged lets look at charging this one on bases of equality of the law, and ill let a youjury died, we too it all of the time, present the case robert hur, if a jury convicts him so be it, if they convict him that is what prosecutors do, the fact you have this evidence, joe biden knew he had classified documents, he cant call up archives and say i have the classified documents, he used them to write his book and he kept them, this is an egree egregious crime, if were prosecuting former president s trump and biden have to be treated similarly. Larry why didnt hur just say he is guilty, he basically said it. Why didnt he say he is guilty and i would have charged him but he is president. I wish he would have. It beg the question, are we ever going to prosecute someone, what would you have to do to prosecute someone. There is not a single fact pattern in and way shape or form that a member of congress, house or senates that classified information you have to steal it to do it. He did this over the course of decades, it was not like accidently some staffer stuffed it in a job. Larry senator, and Vice President. Only one person that can take stuff out, that is the preside president. Senator that drives me nuts, they have to establish the standard. But, right now it is, if you are a democrat, you will get away with it but if you are a republican or donald trump we might prostitute. Larry steve forbes, why should hur, i you know he stood up on a lot of forces he had to strand up to the Justice Department to get it. Instead of coming up with this about how joe biden lost his mind. He is a nice guy but high lost his mind, he is not a nice guy did more, he was guilty, i bust him but he is president. Why didnt he just say that. Because he could not take that leap, democrats are in a quandrenew, saying this shows joe biden has not lost his mind, if he has not, that means that primis of hurs not bringing him to trial goes out the window, you cant have it both ways, you cant say he is in full charge of his faculties, if he is, charge him. Then a bunch of other concerns. Larry with all respect to you, i dont think it should be about whether he lost his marbles. He brought that in as an excuse. That say coverup thing. It is. We have sound. What the hur said. Hold on. My team and i conducted a thorough independent investigation. We identified evidence that the president wilfully contains classified materials when he was a private citizen. Larry it should have finished, and i would have busted him and charged him actually a felony . Yes. Yeah. Larry if not for fact he is president. Some of the documents have markings, they are more classified. That would have made it simple. The other thing, fact that joe biden gave his ghost writer when he knew was classified that ghost writer, deleted audiotapes, got rid ofs every, if the most writer was not charged it shows how much in bag robert hur is protect joe biden. He put some comment. Larry that word, your context is right. This means he dodged what he should have said originally, i would have charged him but he is president. Right. Larry he could have said, but you know, you had a. 2 papa58 batting average when you were a College Baseball player. And donald trump got up and mocked donald trump how joe biden got up and mocked donald trump, and me had the stuff scattered everywhere. Who knows true in the hearing, hur testified that joe biden was making chevy core i ha corvette noises, vroom . Stev steve forbes, what does the public think. Reaffirms two standards of justice, i think hur felt it was only way he could get this report out of the Justice Department, he knew garland would be around pressure the ag to suppress it. He figured only way to get out, say, joe, you committed it but you are gaga right now, you are excused. Otherwise it may not have sign the light of day until after the election. Larry can like at this, three instances of this, charges taken away. Documents you should not have take up, hillary, who bleached how much 30 thousand or Something Like that them out like my old tennis shirts. There is joe biden, and donald trump. Only one has gone has been charged. Donald trump, how is that possible . This is america. Well america being perverted by deep state that is arrogant and needs a real thrashing, comey made that decision on his own, they wanted trump to lose, they are shocked he got the nomination and more shocked he could win the election, comey put hillary in to losing column on election day, that is how trump won, he thought she was show hurry sure to win, he would reopen the investigation, she lost because of that, have arrogant state, they are all in collusion that is why you need a real cleansing of the charge me your pointing. I am pointing at you. There is no way it works out well for joe biden, to steves point, all americans look at this, if you are far left and right you might be in your bubble, most fair minded americans see a tw twotier justice system, they read hur report theyn t that joe biden they understand that joe biden has a failing mind, because of what they see on television, either way, hurs nonprosecution but layout of mental state of joe biden is a death blow to joe biden in Reelection Campaign in an election year. Larry Jason Chaffetz, can i ask you, i am pore bored with this, tiktok is now is time to throw them out. What do you make of this is bipartisan support 500 in Committee Goes to house floor tomorrow. There you said im not opposing it he does not like facebook, i get that he knows it is wrong. Even joe biden is in favor. Idea that white house will let it get to finish line is not happening. Larry you think they will stop it. Key election tool for them, they much rather go for the power and win white house than do about what is good for National Security, they are trying to ban it for government issue but use it as a bludgeoning tool to win an election. I think it you have to tut stop it in senate. It will just barely not make it. It is san election year. And that is the way this will go. Larry well talk about it later with gordon chang. But steve forbes you know about this stuff. Media and so on, w we have a National Security obligation to do something, there is 150 something odd a popular app, i get that. Is this right thing to do go after them . Well they laid out the solution. Divest, tiktok can exist, people can use it, but not part of the ccp. Simple. Cut it off. Ccp wont let them. They oppose any divest am. Dive. At the end of the day they will lose whole thing, i dont think so, to jasons point, they will try to push it to after the election. But there is no way, in cranes putting cameras and cranes. Something glun believable. Larry we have a National Security presentation by fbi, a special meeting and the fbi came in and showed us the pictures of huawei, chinese phone company, ordinary run of the mill, rural wooden telephone poles with tiny cameras on them. Just happen to be very near military bases in the t dakota and northern california, we threw huawei out. They will send a sta spy balloon. They want to spy on our country, we had a bill that was on trade. This makes sense, they wont let facebook or twitter into china. Because it is a National Security risk to china. The same thing applies for us, apply the china rule, dont let them in, it is a symptomatic risk Security Risk for this country, you have 150 users, kids Lobby Congress to keep the app up and alive, you know how powerful the tool is to motivate the american kids. Larry they try to bend the kids minds it is garbage and crap and sexual ter vision. Per. I dont think that biden will be at top of the ticket rail. Despite the state of the union. Well close it on that. Guilty as charged, steve forbes and Jason Chaffetz, and sean duffy, terrific stuff. 10 years. You can catch sean with cohost Dagen Mcdowell on the bottom line. Coming on kudlow biden flaigdflation is heating up gain, you can catch kudlow at 4 00 on fox business. Im kudlow well be right back. Fisher Investments its easy to think that all Money Managers are pretty much the same, but at Fisher Investments were clearly different. other money manager different how . You sell High Commission investment products, right . Fisher Investments nope. Fisher avoids them. other money manager well, you must earn commissions on trades. Fisher Investments never at Fisher Investments. other money manager ok, then you probably sneak in some hidden and layered fees. Fisher Investments no. We structure our fees so we do better when clients do better. That might be why most of our clients come from other Money Managers. At Fisher Investments, were clearly different. If your Business Needs a new application then developers will have to write code. A lot of code. If an application needs to be modernized then youll need time, resources. And caffeine. If this sounds daunting then use watsonx code assistant ai designed to multiply developer productivity so you can generate code quickly. Lets create a more modern foundation for business, with watsonx code assistant. Ibm. Lets create. Get help reaching your goals with j. P. Morgan wealth plan, a digital money coach in the chase mobile® app. Use it to set and track your goals, big and small. And see how changes you make today. Could help put them within reach. From your first big move to retiring poolside and the other goals along the way. Wealth plan can help get you there. J. P. Morgan wealth management. Do you have a Life Insurance policy you no longer need . Now you can sell your policy even a term policy for an immediate cash payment. Call Coventry Direct to learn more. We thought we had planned carefully for our retirement. But we quickly realized we needed a way to supplement our income. Our friend sold their policy to help pay their medical bills, and that got me thinking. Maybe selling our policy could help with our retirement. Im skeptical, so i did some research and called Coventry Direct. They explained Life Insurance is a valuable asset that can be sold. We learned we could sell all of our policy, or keep part of it with no future payments. Who knew . We sold our policy. Now we can relax and enjoy our retirement as we had planned. If you have 100,000 or more of Life Insurance, you may qualify to sell your policy. Dont cancel or let your policy lapse without finding out what its worth. Visit coventrydirect. Com to find out if your policy qualifies. Or call the number on your screen. Coventry direct, redefining insurance. Larry bidenflation heats up again. Cpi 4 . Core services, without rent, core, core inflation that fed beginngend up, cant be good, taylor riggs, and john carney. John, let the games begin. This was bad. Not just because these numbers were bad and higher than expected but it is a confirmation that january was not anomaly, inflation is going back up. We have not really made any progress on inflation for 8 months. Now for last 4 months, it has been creeping back up. 4 months in a row of headline inflation monthtomonth, going up this is means that fed cannot cut, they say, they are looking for more confidence, i dont see how you can look at these numbers and say im more confident. Larry anyone from fedspeak about it. Were in a quiet period. But you know we heard from jamie dimon, he spoke in australia, he said that fed should not cut in first half of the year, maybe second half. If at all, but they should be data depend. Art laffer was on the program said interesting points an election year, the fed cutting in second half of the year they have to be careful, he almost made the point do it now or never. Larry i dont think i will do it. They cant in september that would be the most political cut ever. It will create backlash, they want to defend their independents, they will not cut in september, maybe they cut in november. Like the week after the day after the election. Larry interesting point, joe biden said he is expecting them to cut before. If they cut before, the other candidate, starts with a t will scream at j. Powell, he dud that anyway. It will be like oldtimes. You have to think joe bidens advisers must have been pulling their hair when he said, i bet they will cut, that puts fed in awkward position, if they cut it looks like they are obeying what joe biden told them to do. Larry stock market went up today. S p hit. Record the high. That is important, and other hand. Inflation is not creeping down. It is creeping up. Or maybe creeping. This is something that fed has to Pay Attention to, if you might your target of 2 , there is nothing in here that says you are meeting that target. If you have a core 3. 8 you are almost double that target of 2 . Fed looks at pc, this is cpi, were nowhere near 2 , notes i was reading harkens back to 1970s era. That is what the fed needs to be worried about, making sure with stock market at record high, they are loose, and easy, you are not seeing credit spreads widen and traditional signals that market surge pressure is under pressure. It is all risk on, the eatieasing of financial decision. Larry goal and bitcoin. Gold, since the etfs were put in place, it has gone from 40 thousand to 70 thousand. John, what do you make of bitcoin rally. I think a big part is easy money, the people say that fed is restrictive right now, if you look at things like pit coin, it bitcoin, it says they are not, a lot want to buy bitcoin as a hedge against inflation that did not work it is not a good hedge, it is telling you, that right now people are not saying e i better have a risk off trade. Did you know what costco said last quarter, they sell gold bars, they sold 100 Million Dollars of goa goal gold bars, they launched today they want to celtics vsell sill very coins silver coins. Larry is gold still a hedge against inflation. I think it is yes. Gold is tr traditionally something to diversify your portfolio. Wont some gold and now you dont have to go to your broker you can go to costco. Larry with these indexes, forbid coin, that is the bitcoin that is a booster rocket that puts them into the game in a way they were not in the game before. It does undermine part of the original use case for bitcoin, it was to free you from Financial System and be its own Financial System, but it is going up because it is getting integrated into the Financial System, being the etf means you could call your broker and say i would like to own a bitcoin etf, you have dont have to go through all hurdles you used to, you dont have to worry about losing your hard drive. I lost mine. Larry beyond the scope of this. Treasury and fed, would like to control digital currencies. Do you think it will happen. There is a lot of opposition to it. In senate, house and market. But fed in particular, talks about controlling it. You know creating their own. I dont want that, i dont want them to control everything, it is possible. Larry i think to your point. About trying to evade surveillance, they dont it, it is easy for government to say, we dont like what were doing, and shut you off, you talked about China Central bank and digital currently and control on their population. Larry called tiktok. It does promote survey lint. I think it is a good idea to have things that compete with official currency, roosevelt banned goldener shgoldowner shiship at one point, the fed should stay out of it. Larry competing currencies. J. Powell last week in his testimony said he is nowhere looking at essential Bank Digital Currency snow a. Larry all right, no federate cuts. John charlie and taylor riggs, with her cohosts the big hone show, weekdays, 1 p. M. The big money show. On kudlow, bytedance and tiktok, either need to break up with Chinese Communist party or break up with america, breaking up is hard to do, we talk about it with china expert gordon chang, then Newt Gingrich will come around, Donald Trumps party is becoming party of the working clarks. Jclass. Im kudlow, a small snack. Well be right back. Is bad debt holding you back . The only limit is the sky its our time you dont want to miss it just a little bit louder its our time you dont want to miss it its your moment in the spotlight all your ambitions. All in one app. Low fixed rates. Borrow up to 100k. No fees required. Sofi. Get your money right®. Ive got to go. Ok. Bye. Mom thanks mom. Yeah. You were made to dream about it for years. We were made to help you book it in minutes. Trika fishing rods are the rebirth of the fishing rod industry. We created a multidirectional, 100 carbon weave process that is ultra lightweight with one goal in mind, make the most sensitive fishing rod ever. We then combined that with our patentpending ekkochamber technology. This doubles the vibration to your hand, making trika rods twice as sensitive as the competition. To learn more, go to trika. Com. Larry all right, to tiktok business, bytedance and tiktok needs either to break up with Chinese Communist party or they will have break up with america. Joining us to talk about it gordon chang. Author of great u. S. China tech war. Thank you. China is our adversary slash enemy they want to dominate everything and spy on us and surveil us and bend the kids minds, we have got to, were coming close now, we have got to follow through for a number of reasons. We have to follow through, china has weapon icweaponize tiktok. Just to give you an example radio free asia reports in 2020, Intelligent Unit of Peoples Liberation army based themselve in now closed houston consulate, using big data to identify parents who participate in violent protests then sent them videos via tiktok on how to riot. That is an act of war. We have known about it for some time, this is in public domain, we know about the videos that promote illegal drug use, promote self harm, promote the russian propaganda narratives, and hamas and chinese narratives, this is for two reasons, a critical National Security threat. Larry you expect china through tiktok and whatever other means, will try to influence or election in they will interfere . Absolutely, in 2020, we know that biden operatives used tiktok to actually disrupt a ast least one Trump Campaign event. We know in 2020 in general through tiktok, through textmessages. They tried to get Bernie Sanders out of the race for the democratic primary. And they also tried to help biden in general election, they were successful on both. They have been involved in our elections, we have seen them do other things in 2020, this is something they will be doing in 2022 director of National Intelligence said yet and this election cycle. Larry do you think that biden administration, jas Jason Chaffetz was skeptical, do you think that bidens will stay where they are now, that is supporting the pill to break it up. Bill to break it up. I think they will say it will stay there, they may work with senators to derail it or postpone it, i believe this is temporary, whatever happens this election cycle with next president there will be something done, American People demand it, there is too muchs every that china has used tiktok in malicious ways and other stuff that weve been learning bthese are things that the American People will demand that their government do something about. Larry gordon, wor one other point, if you have a break up, lets day bytedance sells tiktok. But will all of the tentacles be cut off, servers and things that i dont particularly understand. I remember when we loo look at this in Trump Administration there were issues Software Issues that even though bytedance might sell it to someone they would never give up the influence. They are talking about curing a alg alga r alg algorithm. It knows what your kid wants to see and doesnt to see. They might have 130 million active users, it is a lot of user because of that. If were going to do this we have to get control of that algtal. Can we. I think we can, it getting tricky, we can say well do it china will say no were not. But the point is, we can redwrai retaliate and make live deficient cull difficult for them. Gordon chang thank you very much. Now, we will switch gears, talk about voter alignment and president ial election. Maybe tiktok too, joining us now great Newt Gingrich, former House Speaker fox news contributor. Welcome back. I want to talk to you, about this tiktok story. You are a man of the future, and you heard what gordon chang said, you have seen the goings on in washington, it looks like time has come to break up. What do you think . I think it is essential that tiktok be brought under american control and that the chinese be forced to sell it on an American Company and chinese no not be allowed to have any ties to that kind of social media, a simple matter of National Security, gordon is right, he is one of the great experts of this issue how chinese wage war by a variety of societal means. I am hoping that the senate will take it up, i think that house will pass it by a huge majority, sens senator schumer should get out of wait. Larry thank you. We have a full screen, a poll, i think from financial times. The Republican Party has change changed. And changing to a working class party, how well to do people are moving away from democrat i am sorry away from republicans, old country club, they are going to democrats now. The elites. Low income people, believe it or not are moving back toward the Republican Party. And middle class people have pretty much left the democratic party. And have moved to Republican Party. I dont know that all this began under mr. Trump, what do you make . Well, i think that you have two Different Things happening. One you have a trim dou tremendous portfolios failure by performance failure by joe biden whether you talk about inflation or immigration or crime or fentanyl, you can go down the list, result is people just every day normal people, say this is not working, it is not complicated bidens biggest drop is with people under 30 who have realized they are not getting a good job, they cant afford to buy a car or to buy a house, and bidens policies will make them poorer. Performance is part, the other part is values, a lot of stuff democrat stand for is weird. State of union, i Don Joe Biden talked about an illegal immigrant killing a young girl in georgia, the left reacted fo ferociously, he backed off and said, i should not have used word illegal, the average blue col ca collar american has common sense, you come across the border, illegally, you are an an illegal. New york times of all places did a poll, they showed that the tremendous Movement Among latinos and asianamericans and africanamerican, flu collar workers and middle class workers are shifting toward the republican, elites, if you are a phd from harvard you are likely to be a democrat, but a janitor cleaning out the classroom, you are likely to be a republican now. Larry interesting, under trump, work i like to call them working stiffs, it is middle income and lower. Those groups got a pay increase under trump. But after inflation they have gotten a pay cut. Under biden. Ill leave it to you the last word, i think that mr. Trump talks about it a lot that will be major . Sure, it is a matter of common sense and reality, people know when they walk into a Grocery Store it is a lot more expensive and they have a lot less money than they did under donald trump, i think that is a huge part of this election, joe biden cant give enough high. Ed up speec hyped up speeches. Larry thank you Newt Gingrich. Tommy tuberville on the other side of the break, what about far lift woke spending left woke spending bills in joe bidens budget, you wont believe what is in this, tuberville is next, im kudlow, well be right back. Okay yall we got ten orders coming in. Big orders starting a business is never easy, but starting it eight months pregnant. Thats a different story. I couldnt slow down. We were starting a business from the ground up. People were showing up left and right. And so did our Business Needs the chase ink card made it easy. When you go for Something Big like this, your kids see that. And they believe they can do the same. Earn unlimited 1. 5 cash back on every purchase with the chase ink business unlimited card. Make more of whats yours. sung limu emu and doug. Hello, ghostbusters. Its doug. Of doug and limu. We help people customize and save hundreds on Car Insurance with liberty mutual. Anyway, we got a bit of a situation here. Uhhuh. Uhhuh. Mmhmm. Sure, i can hold. Only pay for what you need. sung liberty. Liberty. Liberty. Liberty. Ghostbusters frozen empire. In theaters march 22. Larry part of kra crazy basketbabudget story is the woke money, we talk about that with alabama senator Tommy Tuberville. We will put on full screen. 90 million Free Community college, 11 billion interior Department Cultural preservation. And 8 billion climate core, 3 billion global gender equity. 1. 5 environmental justice. Then another one sense, 9 1 2 billion dollars worldwide, a reparations program, loss and damage, because were the United States to blame for everything, including climate change, that is hurt the foreign country. I would argue that whole budget is insane. But, you know this is the more insane than the rest of the budget. Well, it is no change. You keep racking up the money, 34 trillion in debt, and rising and inflation going up. 1. 6 trillion for Social Security discretionary spending, money you have ba been paying, it is gone, the politics have spent it. Were having to tax and take money and have a bigger budget for that this climate hoax, all money into this, the money, i think 482 million supposed to go to ukraine, you know it is just one thing after another that american taxpayers are paying more, borrowing 80 thousand a second, they are in a disa disaster spiral, this budget and inflation is a for joe biden. There is no way powell can drop Interest Rates now. Larry it does box the fed in and biden has said he is expecting them to drop rates, i think you are right. Relying on taxes. 5 trillion dollar tax hike, on successful learners and corporations and businesses, they are not getting that money, that is not real deficit reduction that is class warfare. It will never happen. It reminds me of state of union, President Biden said i have cut deficit a trillion dollars, i dont know where he is getting that from, he is putting burden on taxpayers and Small Businesses, the Small Business and farmers have built this country, not the illegals we need to stand up for them, quit putting blame and burden on them, and give the taxpayer a relief, they need relief, they dont need more money spent in climate hoax money overseas, when it should not have to, this is a disaster. Larry let the folks keep their own money. You know. That is a good point. Senator Tommy Tuberville, we appreciate you sir, talk soon, ill be right back with my last word. Business. Its not a ninetofive proposition. Its all day and into the night. Its all the things that keep this world turning. Its the gotos that keep us going. The places we cheer. Trust. Hang out. And check in. They all choose the advanced Network Solutions and round the clock partnership from comcast business. Powering more businesses than anyone. Powering possibilities. Things will go wrong for your customers. But your business can make it right, with watsonx assistant. Ai that can help resolve problems by understanding your customer requests with 90 percent accuracy. Lets create Customer Service in service of customers, with watsonx assistant. Ibm. Lets create. Trika fishing rods are the rebirth of the fishing rod industry. Our carbon fiber reel seat, grips and ekkochamber technology, makes our rods twice as sensitive as highend competitors. For more details, go to trika. Com. Larry thats it for kudlow. Thanks forthan watching, folks