Flow, they cant deal with the people that they already have here. The Biden Administration is reading the polls and looking at 2024 and for him to put up an embarrassment says theyre reading that theyre in trouble. I look at matt gaetz and it was all tactics, and he really brought down the house. We are shut down. We a arent doing anything becae matt gaetz is do ago victory lap and monetizing this. We think its all of a sudden the ninth inning with this 2024 president ial election, and the reality is many voters think were just getting warmed up. Reason why we are seeing chaos in the markets right now is because of the chaos in washington. Theres no leadership in the white house and sadly now theres chaos in congress. Thats a problem. Stuart the producers are being very generous in their allocation of tom petty music, i real limb like it, dont back down. This is after a big tussle with the recording contract and wouldnt back down and he won. My alma mater, gainesville, florida. Played every game before the fourth quarter. Er. Stuart know the name of his first band . Mud crutch. He ditch that had name. He did. System of articulation stuart weve got a big so she felt lets go with us. Its 11 00 eastern time. Thursday, october 5. Lets not get bogged down with tom petty. The market shows a selloff on the dow and the nasdaq. Down another 136 right there. Show me big tech, probably lower across the board, yep, thats what weve got. Apple, alphabet, microsoft, meta, amazon. Theyre all down. A look at 10year treasury. Earlier that yield is coming down and its still coming down, and thats not helped the nasdaq. 472 on the 10 year as we speak. Now this, a typo or misinformation and border czar swith acute and unlawful entries into the United States. Really . 20 miles of border wall will be built in stark county, texas. Thats a complete reversal of what joe biden said in august of 2020. Watch this. Trump campaigned on build that wall. Are you willing to tear that wall down . There will not be another foot of wall constructed in my administration. Number one. Number two, what ill focus on and the fact is that somebody in this group written a lot about the border, im going to make sure that we have Border Protection but its going to be based on making sure that we use hightech capacity to deal with it. And at the ports of entry. Thats where all the bad stuff is happening. Stuart okay, okay. Thats a complete reversal. Whats going on sneer well, its called seizing the political moment. Matt gaetz f fiasco and theyll build a border wall and democrats look bad so why dont we republicans look good . Solving nothing in the migrant crisis and thats irrelevant. This is the democrats making the best out of republicans republicans matt gaetz problem. Theres no polls on Voter Opinion in the drama in congress but right before it happened, polls showed biden in deep, deep trouble. Q poll in pennsylvania, voters just released voters trump leading biden by two points, 4745. Before that, it was the abc Washington Post poll which showed trump up by ten points. Building 20 miles of border wall is designed and timed to reverse bidens polling decline. So is the Just Announced 9 billion student loan give away. Who knows whats next. The democrat wills never allow the republican crisis to go to waste. Third hour of varney starts now. Stuart steve hilton joins us now. Steve, you heard my take. I say the democrats are seizing the moment. Do you think this hurts republicans in 2024 . The chaos in congress, it definitely does and they need to get on with it and clean things up and youre completely right. One of the oldest rules i remember for my time working on political campaigns is the best you can do is control the agenda, make sure that what everybody is talking about is an issue that is good for you and bad for the other side. All the time talking about chaos at border or whats going on with inflation and gas prices and thats bad for biden is good for republicans. If the news agenda is dominated by republican in fighting in congress, that is taking all that stuff off the agenda. Its bad for republicans and one more point i dont agree about the border wall announcement and i was in the same position and my wife showed me the news last night. Theyre building the wall. Can you believe . I said thats fake news. That cant be real. They wouldnt just announce that. Especially on the day that theyre trying to get Student Loans on the news and do you know what was interesting . They didnt actually announce it. Theyre actually embarrassed and ashamed about it. They slip it had out in this small announcement in the federal register or whatever it was. They didnt make a Big Press Conference at white house. They know how humiliating it is because exactly because of the clip that you just played and the real point here is that walls end up not being racist when the consequences of their disastrous border policies start to affect democrats in the citys that they run where you are in new york, stuart. Stuart thats very true. Jim jordan, steve scalise, theyve both announced bids to be the next speaker. Biden was asked if he had any advice for the next speaker. Steve, watch this. Roll it. Whats your advice for the next House Speaker . Stuart its come to this, steve the president is laughing at republicans and hes so vulnerable himself and he seizes that moment. What do you say. Exactly. Exactly right and were talking about earlier. This is an on goal and completely selfinflicted wound and republicans have to get take act together and everything there to be said about this has already been said and anything to add and the country needs a Strong Opposition Party in that chamber thats controlled by the republicans with that very small margin because weve got to have someone standing up against the disaster of policies on every single issue. This administration and the democrats in congress with the senate where they have control are destroying the foundations of prosperity and security in our country. You look whats going on in our cities, on the streets, with our economy. Everywhere you look, its a disaster. Weve got to have a strong united republican opposition. Stuart democrats are good at politics, republicans are not. Steve hilton, see you again soon. Back to the markets, down another 150 on the dow and 138 on the nasdaq. Thats a selloff, put it like that. Lou basenese joining us for market coverage this morning. Think the chaos, matt gaetz fee fiasco having any impact on the markets . Is that why its done . No, its focused on the fed and Interest Rates and the fiasco is continuing and no clarity between too many candidates running and lack of leadership. Thats not going to resolve any time soon. Stuart got it. Lou, i want to talk about Sam Bankmanfried and his trial. Why do you think so many relatively sophisticated investors, i thought they were sophisticated and gave him tons of money . This is what sill von valley keeps doing. Look at Elizabeth Holmes and theranos and look at how they do the deal and no Due Diligence is done. The marquee investor is in the deal and put your money too. Everyone falsely assumes someone else did the diligence and saw it in theranos and with Sam Bankmanfried who everyone thought could be the next jamie dimon and he was the next bernie madoff. We do the diligence first and share with investors and say heres all the work and why you should think about investing, but s Silicon Valley doesnt operate that way. I look at pitch decks every day of the week and every slide is the key investors and all star investors in the deal already and that convinces people im going to miss out. They must have done the work, why shouldnt i be involved in this. Stuart youre not buying it, are you . Big tech doesnt look like it got the memo either. Goldman sacks is saying were normally coming into earning season. Tech was in a momentum rally and this time theyre down about big seven stocks down about 7 and theres a positive potential for surprise on the earnings. Look, big tech has run up too far, too fast and nvidia up 200 and meta up 150 and all these stocks that have come up so far. Why are you going to chase after more of the rally and look for bargains in areas of the market beaten up and sold off. Thats small c caps and biotech and trading at 22 year historic discount to large caps and thats buy low and sell high. Not buy high and hope to sell higher. Stuart youre killing my retirement. Youre not retiring any time soon. Youve got plenty of time . Stuart you think . Lauren is looking at chlororocks. This is a fascinating situation. Chlclorox is way down, 8 loss. Lauren a hack attack disclosed in august and clorox will see a First Quarter loss because of that. And a sales drop as bad as 28 . So scattered spider is the name of the hack group reportedly also got into clorox and they were the ones that hacked cesars and mgm. They were able to do this at clorox and take them offline and disrupt operations and supply chains. Stuart some clorox products are not getting to the shelves . Lauren thats what were hearing. A nationwide shortage of some lori harmon ox products clorox products. Stuart floor and decor. Lauren its a retail store with any flooring and theyre down almost 4 and this is the consequence corona and moten dell low and raising profit target and stocks down 2 and the reason is the wine business is softening. Stuart tell me about it. We happen to be in the wine business and were not doing that well. Thanks very much indeed. Lauren, where are we now . Attendance at disneys theme parks are lagging and cutting ticket prices and trying to boost foot traffic. Tell you about that. Donald trump 2024 campaign brought in more than 45 million in the fourth quarter, outpacing Governor Desantis that brought in nearly 30 million. Well take you through the latest fundraising numbers. Remember when President Biden said this about building the wall along the southern border, play it again, sam. Roll it. Are you willing to tear that wall down . There will not be another foot of wall constructed in my administration. Stuart all right, now the administration is reversing course and say theres an immediate need to build the wall. Jeff paul in eagle pass, texas, with the latest coming up. This is Spring Semester at over 13,000 us school districts, which have become top targets for Ransomware Attacks. But theres never been a reported Ransomware Attack on a chromebook. Which is why thousands of schools like the fairfieldsuisun Unified School District switched to google tools for education. So they can focus on teaching and 22,000 students can focus on learning, knowing that their data is secure. some things are good to know. Like. Where to find the cheapest gas in town. And which supermarket gives you the most bang for your buck. Something else thats good to know . If you have medicare and medicaid, you may be able to get more Healthcare Benefits through a humana Medicare Advantage dualeligible special needs plan. Call now to see if theres a plan in your area and to see if you qualify. 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Home of the xfinity 10g network. Stuart nows of migrants continue to cross into the unit illegal lie and dhs secretary mayorkas said theres an acute and immediate need to build barriers at the boarder and comes right out and says it all of a sudden. Jeff paul is live with us from eagle pass, texas. How soon could we see construction of this border wall . Reporter that part, stuart, is unclear and out here on the boarder and see one of the big groups cross into the u. S. Like we did yesterday of about 300 people, its pretty overwhelming but then you realize that this is just a small snapshot of thousands that do that on a daily basis, and thats in part the reason why the Biden Administration is now going to waive 26 federal laws in order to restart border wall construction it had previously stopped and that was back in january of 2021, the Biden Administration at the time called the massive border wall not a serious policy solution. But now 20 miles will be constructed along the rio grand valley in south texas. The Trump Administration built around 450 miles of barriers along the southern border between 2017 and 2021. Environmental groups are opposed to the new construction saying itll impact ecosystems and wildlife in that very area and when you talk with folks that call the rio grandholm and dealing with the flow of the migrants for years, they have long been frustrated that politicians on both sides havent done more. Thats keeping our country safe first and foremost and fixing thens with the crisis at the southern border. Plain and simple. This is new video emerging this morning from the mexican side of the border just across from el paso, texas. It appears this is a crowd of migrants and their reaction to just arriving on that side of the u. S. Mexico border and weve reached out to cvp and surrounding the legalities, stuarts of the river buoys you might remember and greg abbott installed here in eagle pass, texas. Stuart. Stuart the legality of them fascinating, isnt it . See you again soon. Former Border Patrol chief rodney scott joining us now. Rodney, why do you think the administration suddenly finds a need to build a border wall now . Why do you think that is . Well, first and foremost, i honestly hope they build border wall but i dont think itll happen. The reason that theyre taking this action is something as simple as calling the impoundment control act and that act requires the executive branch to spend money appropriated by congress consist with that appropriations and 2019 to build bolderrer wall system and the barrier and rose wall above and this administration came in and i was in this administration for seven months and in the room having conversations and they wanted, they stopped all border wall construction and they acknowledged back then that they didnt have the Legal Authority to do that because of the impoundment act and theyve had a strategy all along to do very small steps, absolute least they could and then literally try to let the money drain away because theres a lot of contracting behind the scenes and things money was being spent on. That money was going to lapse on september 30th of this last year. Nay were hoping congress would rescind that money, congress did not. This really in my opinion and many of my sources inside cvp say its a step to avoid a slylation of the impoundment act and ill be surprised if any construction takes place. Stuart thats fascinating, rodney. An inside look at what on earth is going on. The answer is not much. Secretary of state, antony blinken, Alejandro Mayorkas are all in mexico. Are they telling the Mexican Government theyre going to build a wall . No, i dont. I honestly doubt theyre telling them if you dont help us with Border Security and enforce your own laws, were going to hold you accountable. Thats what the last administration did and mexico stepped up. The minute this administration came in they told mexico were a great partner and well be friends and they really stopped Holding Mexico accountable using some of the leverage that we had. I doubt well see anything new out of this. This last week, Mexican Government started contracted buses to ship illegal aliens entering mexico through mexico and getting them to the southwest border quicker and no outrage from this administration. Im not real hopeful anything comes out of this. Stuart come back and give us interesting information. One more for you, 50,000 migrants from venezuela crossed the border in september alone. Thats a record high. Is this a direct result of the administration giving venezuelans work permits . It really is. So we talk about push and pull factors but any time we sen