Transcripts For FBC Varney 20240703 : comparemela.com

FBC Varney July 3, 2024

The red. The s p and the nasdaq are in positive territory, barely so but better to be red, dow jones is down 44. Take a look at the ten year treasury rates, they are up significantly, 7. 3 basis points that is up over 4. 5 right now. That is pressing on market concerns and oil which is also been pressing on market concerns, that was over 90 a barrel. Earlier this morning it is dropped a little bit below 90 a barrel at 89. 84. Bitcoin lets see what that was doing it was down significantly more that it is now. Is down 41 to 26158. Take a look at the new pool from abc in the Washington Post donald trump is ahead of President Biden in a hypothetical rematch but the post deems this their own pool outlier after other polls show the two neck and neck. Guy benson joins me. Its fascinating the Washington Post pay no attention to the man behind the curtain but at the same time it must be scaring the heck out of folks of the democrat party. A couple of things, not only did they label their own pool and outlier in the set of numbers that came out yesterday and for now they are right this is a much larger lead for donald trump and we seen another pulling, they did something very similar back in the spring when there was republicans saying that was suspicious we dont like this lets flag it. At some point you believe your pollsters numbers and the way theyre going about this, or you dont and you change or you find someone else. I think adding oscars every few month when you dont like and outcome is a strange look. I dont remember the similar caveats with the exact same poster turned out crazy good numbers for democrats, i can think of a few examples of recent years, theres that. To your second point. Go ahead. I was going to say we have the other polls that are much less outliers because we know for the trend and we know immigration which is totally out of control more than usual right now. Thats good to be a focus of the debate coming up this week on wednesday, particularly concerning desantis. Why doesnt desantis focus his attention on the economy when is the number one concern of most americans. When floridas economy for the most part has been roaring under his leadership there is a reason why he won by 20 points in that state something no one ever does. I think desantis is going to reestablish himself as the clear number two in the race behind donald trump, the clear alternative because if there could get behind the person consolidate he wants to make the case the argument that ought to be me and he still in the polling but is losing altitude. There are others trying to claim that. Nikki haley had a good debate last time, will she be a target this time around. Itll be fascinating to watch and very exciting to see stuart in action. David you mentioned nikki haley and Vivek Ramaswamy is up there to insert in staples look at the New Hampshire pool, desantis is behind both of them. If theres ever a time this will be the most could go moment for desantis and see analyses going to run. He is focused like a laser as they say on iowa. He has to win iowa to have a chance so he let the early states follow the calendar off the schedule a little bit. I think his focus on iowa. If you have a really good debate performance that has ramifications and permutations elsewhere. If you have a lousy debate with any of these folks that also has an impact. To your very first point all of them are betting against trump they should act like it there down 40 points, 30 points at best from donald trump. Pretend that is doing them no favors but theyre also looking ahead to the general election. In this pool which looks like an outlier in some respects but you see on the economy joe bidens approval is 30 in the Washington Post does that sound like that much of an outlier, not much to be but look at the economy his Approval Rating and sub 25 on immigration look at the boarded the event you people are seen what republicans are saying and i think the guys and gal need to capitalize on that and connect. David guy benson, great to see you. Thank you so much. Come back in, lauren how are voters feeling. Unhappy that is the best adjective i have. If you look at nbc polls they are flashing warning signs for both candidates, particularly joe biden, look at this 74 of voters say he is not mentally or physically fit for a second term, 47 say the same for tr trump. Other red flags for bidens Job Performance as youre talking about, the ratings are abysmally low and trump faces four trials allegedly wrongdoing. Voters might want other options. David unbelievable president ial race. Even the liberal media is admitted the democrats want someone other than biden as a candidate in 2024, what exactly are they saying about that. David the msnbc political analyst Steve Carnegie and he was on meet the press and what he said in my opinion pretty damning. Most obvious answer this is a simple question of job approval barely 40 approve of joe bidens performance. 56 that is the highest disApproval Rating for President Biden since he took office that is significant. An uphill battle to make sure voters dont stay home a few democrats. The problem for democrats, lack of enthusiasm about the election. We asked primary voters on the democratic side do you want options besides biden. 59 said yes they do, this is not a normal number for an incumbent. I watched this interview several times in the Host Kristen Welker kept saying wow. At the end six and ten want another choice for president and court neck he said we asked the same question from trump years ago when he was about to read again in 37 wanted a different option. 59 37 . David things have changed. Lets get back to the market and ryan payne is here. Question about the market, its nice that we turned around on the nasdaq and its very minor and whether a correction. In a major selloff. We had a lot of bad news, oil at 9 a barrel and stubborn inflation and the fed talking hawkish. Jay powell wont let up on keeping Interest Rates higher. A government shutdown, eastern new york. The market is only 5 . I was telling you this is a correction and when you start looking earnings its all about earnings stocks followed what earnings do. Analysts are starting to raise their estimates the first time in seven quarters. You got next year end the following year you look at doubledigit earnings growth. Based on what evaluations are today, the dow jones this would be a 40000 over the next one to four months. David it is very difficult to make predictions about tomorrow based on the previous years were previous months and what we dont know is how the marketplace in particular consumers will react to another uptake and inflation if that happens. We see the price of oil going up in core inflation gets energy out there and what the fed focuses on. Are you concerned about the consumer and their ability to buy things that they have to pay more for energy . If you look at the direction where things are going i would say no, number one inflation is coming down if its if you look at the numbers coming down. Its going up arising more slowly. A fairpoint. Rising more slowly but in portly wages are growing over inflation and they have the last couple months. If you look at the labor shortage i just dont see the wage growth going away. We dont have enough workers, as long as wage growth stays strong it will go into next year productivity is coming back in a big way. I dont know who believe in bidenomics but American Ingenuity is a. I. Autonomy all these things that were going to Start Technology wise that will be a huge boom to margins liberty bottom out last quarters two quarters ago and there can expand so profit should go up. If you start looking at the fact that we have more productivity in the labor force of wages going up and we see moderate inflation going into next year were going to have a relatively strong economy. David another thing that would up his Consumer Debt. A lot of people in the past hour have been talking about their concerns with regard to Consumer Debt particularly if the Interest Rates go up another notch that could be a real concern they may cut back a lot of the spending. They could but the u. S. Net worth is at 154 trillion that is 37 trillion before the pandemic. If you look at debt service relative to income it is relatively low. Even if you look at mortgages most peoples biggest debt most people are locked into low Mortgage Rates thats why theyre not moving right now. Overall it is a concern but overall they look historically its not crazy disproportion. David i would love to get you and jeff sica have a debate about this. Great to see you. Coming back in, lauren you look at some of the movers. The dow stock down 3 they have idled there forever chemical manufacturing at a plant in belgium they have pledged to stop making and using the chemicals by the end of 2025. The problem that can affect businesses that are supplied by them to fulfill their order so the stock is down. David work another stock down. Its down Three Corners of 1 . It recovered a little bit. The news is positive in trials of using futura and other drugs on patients with cancer. It showed superiority over traditional chemotherapy prolonging the lives of patients. I hope that works. Jovi aviation is the air taxi people the electric air taxi takeoff landing, the stock is up seven and half percent. They deliver the first to Edwards Air Force base ahead of schedule, the air force is now testing them. David thank you very much. Hilary clinton is at it again. She said Vladimir Putin is going to be intervening in our elections again. Mike huckabee is going to deal with clintons warning and the next hour. Tennessee senator Marsha Blackburn with the president hostage deal with iran. She says biden has only emboldened iran. We are on that. Ukraine first lady says she does not know if her husband is going to run for reelection in 2024. How would that affect its war with russia with zelenskyy wasnt there and taxpayer money going there. Kt mcfarland on that next. Blackrock silver is bringing new life to one of the Great American mining camps in the silver state of nevada. With a new resource estimate imminent, one of the highest grade silver projects in america is about to get bigger. Blackrock silver. Nice footwork. Man, youre lucky, watching live sports never used to be this easy. Now you can stream all your games like its nothing. Yes [ cheers ] yeah woho running up and down that field looks tough. Its a pitch. Get way more into what youre into when you stream on the xfinity 10g network. Hi, im jason and ive lost 202 pounds on golo. So the first time i ever seen a golo advertisement, i said, yeah, whatever. Theres no way this works like this. And threw it to the side. A couple weeks later, i seen it again after getting not so pleasant news from my physician. I was 424 pounds, and my doctor was recommending weight loss surgery. To avoid the surgery, i had to make a change. So i decided to go with golo and its changed my life. When i first started golo and taking release, my cravings, they went away. And i was so surprised. You feel that your body is working and functioning the way it should be and you feel energized. Golo has improved my life in so many ways. Im able to stand and actually make dinner. Im able to clean my house. Im able to do just simple tasks that a lot of people call simple, but when youre extremely heavy theyre not so simple. Golo is real and when you take release and follow the plan, it works. David checking the markets the dow is down 65 but the nasdaq and s p are in the green. They have been basically flat. The s p is up. 02 nasdaq is up. 1 . It is basically a flat but market on the green side and the red side so the dow jones has not been below 50 yet. The ukraine first lady says she does not know if her husband is going to run for reelection in march of 2024. Watch this. When he ran for the first time i did not fully endorse it. If he runs again for the second time if he decides it is necessary. We have some experience. Its not as scary as it was the first time. If he feels that the Ukrainian Society will no longer wishing to be the president. He will probably not run but i will support him with whatever decision he takes. David kt mcfarland joining me now. Ukraine without zelenskyy. Wouldnt it be harder to make the sale for the billions that weve been spending to american taxpayers if he was not there . Absolutely. He is a world rock star and a lot of the support going to ukraine especially from europe and the United States is because its going to him personally as a Freedom Fighter or rock star, ukraine without zelenskyys ukraine without International Support behind it. I think she gave the right answer. If he announces im running for reelection he looks like a craft politician on the campaign trail as opposed to a Freedom Fighter. At the end of the day hes going to run for reelection. David where do you stand with regard to all the money with the tens of billions of dollars that even going to ukraine for the many months. Where does it end. I know some people say a victory but the spending at some point we have to be accountable for where the money is going. Americans demand it, dont they . Right now the American People are being offered a choice between two extremes. On one hand do everything we can to have ukraine win and no accountability, thats at the Biden Administration is saying. On the other hand, walk away, let russia win it does not matter. This owed to lousy options im for the middle one bankrupt russia thats not how reagan one we bankrupted the soviet union by driving down the global price of oil. Therefore russia would not have enough money to pay for the war. One of the reasons the russians announced recently that they would have a new defense buildup and by weapons from north korea and other places is because the price of oil has gone up that is a windfall profits, the midamerica says no more war on american fossil fuel, american will be Energy Document and we will set the global price of oil and we will set up below where russia needed to be, we win the war to me its crazy to have the two extremes when the obvious good easy one is staring in the face. David when you started the brilliant monologue of an answer i was shaking my head know we were doing precisely the opposite the antifossil fuel program is driving fossil fuel prices up even more that means russia makes it easier for putin to pay for the war in ukraine. He can fight this war forever. As long as he is the extra profit that he gets when oil is above 70 or 80 a barrel he has the money to pay for. Its not only bad for the american economy, were paying five or 6 a gallon of gas. Its bad for our economy is bad for the National Security and frankly its bad for the environment clean abundant American Natural Gas can take the place of fossil fuels. Its a nobrainer to bankrupt our enemies, fix our own economy and fix the environment as long as we would only do one thing allow the American Energy to produce again. Officials in the philippines are sounding off after china installed a floating barrier were taking a picture of it were a design in the South China Sea. It is preventing from fishing in the area. They vowed to remove the barriers that the filipinos did. What happens if they make a move against china in these barriers. Are probably not going to do it heres whats happened china wants to control the South China Sea and control the entire area, they built up military bases and rock piles in the middle of the oceans. The other countries contested territory waters, they say we have fishing rights not just china but china is pushing everybody out it is a salami tactic. If you have salami in you slice a little bit each time before you know it the salami is gone and that is what china is doing every couple of weeks they do a little bit more aggression and take a little bit more land in another move in the South China Sea. The end goal is to control because the most important maritime trade route and also to push the United States back to the Hawaiian Islands and get us out of the pacific and finally it puts china and a terrific position to take taiwan. David republican senator Marsha Blackburn is slamming bidens hostage deal with iranians. She says they are not going to use the money to better the lives of their people, she thinks they will be using it to push forward on uranium enrichment nuclear. Are there any u. S. Restrictions that could prevent the iranians from using some of the 6 billion for nukes, i hear you laughing already. On my gosh, theyre going to use that for whatever they want they announced the use it for whatever they want. The Biden Administration says its going to be medicine, food for children, medicine for pregnant women read the iranian government leader said will use it for whatever we want. Guess what they will use it for what senator blackburn says the good use and for the Nuclear Program and for terrorist activities against israel and against saudi arabia and the middle east. Anybody who thinks otherwise, they are pretty foolish. That may be the Biden Administration foreign policy. David what about a new nuclear deal they want to get back into the nuclear deal that trump stopped. Is

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